floydv
Elio Addict
Now that the Zuckerbergs have formed a for-profit multibillionaire-dollar company to fund their favored social causes, including global climate change, I wonder if Elio will submit a proposal for funding.
-
Welcome to Elio Owners! Join today, registration is easy!
You can register using your Google, Facebook, or Twitter account, just click here.
Zuckerberg, Llc Funding
- Thread starter floydv
- Start date
Jeff Porter
Elio Addict
- Joined
- May 20, 2014
- Messages
- 2,086
- Reaction score
- 5,343
Hi Floyd, not sure I understand completely. Can you elaborate some?
Andrew V
New Member
I think he's asking if Elio will ask for funds from Zuckerberg for investment in the business. Due to the gas mileage helping to fight global warming and being more economical for those who can't normally afford new vehicles.
floydv
Elio Addict
Exactly. Such an investment would serve both climate change and social justice interests.
Jeff Porter
Elio Addict
- Joined
- May 20, 2014
- Messages
- 2,086
- Reaction score
- 5,343
Ah, got it. Thanks!
Based on history, probably not. There are reports of big-money investors offering money to Paul Elio in the past year or two, but they want control (or more control than Paul has now). So far, Elio has passed. Could Paul start to waver and say yes eventually? Sure.
Based on history, probably not. There are reports of big-money investors offering money to Paul Elio in the past year or two, but they want control (or more control than Paul has now). So far, Elio has passed. Could Paul start to waver and say yes eventually? Sure.
Elio Amazed
Elio Addict
- Joined
- Jun 30, 2014
- Messages
- 3,507
- Reaction score
- 4,630
floydv
Elio Addict
Thanks for pointing out the prior thread; I didn't see that. It's a good thought, but I think PE has to take the step of actually applying for funding, rather than waiting for the Zuckerberg's to show up at his door with a suitcase full of cash.
Typ. those investors have been VC's
, interested in ROI. 'Control' is to see they have a chance of getting a return, etc. Zuc's foundation is
non-profit. The issue is does the
Elio meet their criteria & if so take
a number, the line is long....
Sethodine
Elio Addict
Not exactly "non-profit". From what I understand, they are forming a hybrid organization of sorts. Some money will go to purely philanthropic efforts, while other monies will go towards worthwhile For-Profit ventures. Or in other words, one wing makes the money, the other spends it. I'm sure if they put money into Elio, it would be to make a profit. That said, Zuckerbergian money doesn't necessary have to trade for control of the Elio company--mere profit might be enough for them.
floydv
Elio Addict
And even though they formed a for-profit limited liability corporation to do this doesn't mean generating profits is necessarily a motive for them. After all, they are trying to donate away 99% of their wealth (if we are to believe their story), so it would make little sense to put money only in money-making ventures. My understanding is that a big part of why they formed a for-profit is to avoid the advocacy restrictions that tax laws and other laws place on non-profit foundations. This way, they can dump monies into causes they believe in and be able to lobby, move boards in directions they want them to move toward, etc., without having the constraints a non-profit might have.
In Elio's case, perhaps the high mileage and low price by themselves would be enough to grant funding to Elio without a lot of strings. One condition they may place, to further social justice causes, could be to give monies to Elio that must be used to subsidize Elio purchases by people with low income (to be determined through tax returns or pay stubs). I think that's a condition that Elio should be able to live with since it doesn't affect the design or manufacturing of the vehicle itself.