Fisker's Demise To Cost Venture Capitalists Over $1 Billion

PrivCo, a private corporate intelligence firm, has published a 20+ page dossier on Fisker’s seemingly strong ability to fundraise for itself, while failing to do a good job of actually creating cars. With Fisker teetering on the verge of bankruptcy, the results are staggering; with just under 2000 units sold, Fisker burned through an estimated $1.3 billion in venture capital, taxpayer-funded loans and private investor funds.



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Agent009 - 4/18/2013 12:43:07 PM

+1 Boost

So we hand out lots of free money....try turn off the spigot for no reason

Battery companies die, automakers that depended on the batteries die as well, and those that took the gamble and invested with the Feds blessing lose a billion in the process.

Of course no one accepts responsibility.

ParadoX - 4/18/2013 2:28:07 PM

+3 Boost

That is venture capitalism for you. Sometimes you win, sometimes you lose (Fisker). Tesla is doing well.

trmckin - 4/18/2013 12:52:18 PM

+1 Boost

Well... investments have risks. Up in smoke just like their cars.

http://updates.jalopnik.com/post/34669789863/more-than-a-dozen-fisker-karma-hybrids-caught-fire-and

freeagent - 4/18/2013 3:27:29 PM

-1 Boost

anyone who invested in Fisker is an idiot. this was very predictable. Tesla will fail in due course as well once the direct and indirect taxpayer funding dries up.

Auto_expert - 4/18/2013 10:49:04 PM

+1 Boost

I'm cool with that. What I'm not cool with is the cost to the taxpayers. How many hundreds of millions of dollars did they receive in the form of gov't loans, thanks to Obama and his clown crew?

Leave it to the venture capitalists and NOT the government (who works for us to secure our rights and liberties, not for investing in risky companies with garbage business plans that the free market will not support).