Canoo spent double its annual revenue on the CEO’s private jet in 2023 | TechCrunch
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Tucked inside Canoo's 2023 earnings report is a nugget regarding the use of CEO Tony Aquila's private jet — just one of many expenses that illustrates the

Tucked inside Canoo’s 2023 earnings report is a nugget regarding the use of CEO Tony Aquila’s private jet — just one of many expenses that illustrates the

  • olosta@lemmy.worldEnglish
    15·
    8 months ago

    The CEO leased the jet from himself with company funds? How is that even legal? How can the investors expect to get anything from this company when the CEO is so blatantly sucking the company dry?

  • Ilovethebomb@lemm.eeEnglish
    13·
    8 months ago

    They’re a startup that doesn’t yet have a vehicle in full scale production, so any expense will look big in relation to their revenue.

    Having said that, a mil and a half for jet rental is pretty bad.

    • jqubed@lemmy.worldEnglish
      81·
      8 months ago

      If it’s “only” a million and a half that’s probably not a tremendous amount for a vehicle manufacturer, but it also seems like with no real production yet it might’ve been better to mostly fly commercial and save the charters for when the commercial schedules were really bad.

  • qevlarr@lemmy.worldEnglish
    13·
    8 months ago

    And when they can’t find the next investor, they’ll go bankrupt. Oops! Now everybody loses their jobs because management wanted to play at the high rollers table with borrowed money