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Tesla had “Faraday” as a backup name before buying “Tesla Motors” trademark for $75k
In a few informative tweets on Saturday evening, Tesla co-founder and CEO Elon Musk revealed some trivia about the company’s naming history: “Faraday” was the alternative name proposed for the electric vehicle manufacturer before “Tesla Motors” was purchased for $75,000. A man named Brad Siewert had filed for the mark in 1994 and maintained its registration until the sale to Musk’s company was made in 2004.
While Musk has expressed admiration for the body of work produced by the famed Serbian-American inventor who would usher in an era of AC induction motors, Nikola Tesla, Musk’s use of the name “Tesla” for an electric car company wasn’t immediately feasible. Due to trademark roadblocks in the US, Europe, and China, registering the simpler “Tesla” name was precluded thanks to ownership by others in those countries. Interestingly enough, however, Tesla Motors, Inc. changed its name to simply Tesla, Inc. in February of 2017.
Tesla history trivia: we didn’t actually come up with the Tesla Motors name. Bought trademark off Brad Siewert for $75k in late 2004. He’d originally filed for it in 1994. Our alternative name was Faraday, which was used by a competitor several years later. https://t.co/zPnrrVash1
— Elon Musk (@elonmusk) December 9, 2018
The trivia revelation was in response to a short clip from a recent 60 Minutes interview with the business magnate. An extended clip provided on CBS News also revealed that prior owner Siewert didn’t want to sell the trademark to the vehicle manufacturer, so Musk sent “the nicest guy in our company” to sit on the doorstep until he agreed to make the sale. Obviously, the charming fellow was convincing enough to be successful in his endeavor, although the price tag drove a tough bargain at the time.
It’s tough to imagine this name any differently now.

In the shorter video clip posted with Musk’s original tweet about the trademark purchase, he lightheartedly debated about the correct pronunciation of the electric vehicle company’s name with host Lesley Stahl. He seemed to prefer his “z” sound for Tesla’s “s”, and she preferred the softer “s” version. Other clips provided from the same interview were released previously, one notably airing Musk’s consideration of a GM factory purchase in response to that company’s recent announcement of closures.
Also revealed in subsequent tweets was Musk’s lack of enthusiasm for the TeslaMotors.com website domain, citing an arduous $11 million dollar process lasting over ten years to acquire Tesla.com. A quick search for “Tesla” in the US trademark database alone reveals hundreds of goods and services paying tribute to the scientific genius of Nikola Tesla. With the mark tied into so many products and services, the wonder isn’t why someone would hold onto the domain name, but rather why the specific domain was such an issue given the car company’s market presence. Perhaps, it was simply the principle of the matter.
Buying https://t.co/46TXqRrsdr took over a decade, $11M & amazing amount of effort. Didn’t like https://t.co/BsRfMrY9Gm even when we were only making 🚘.
— Elon Musk (@elonmusk) December 9, 2018
Tesla was founded in 2003 with the purpose of shifting the public’s perception of electric cars and kick-starting a revolution in clean energy vehicles. The Roadster, Tesla’s first vehicle unveiled in 2008, struggled with production demands and reliability, but it found enough popularity to move electric cars out of the “golf cart” status they’d been relegated to and provide the fledgling startup with the tools needed to take the next steps.
Today, the company boasts three other successful models with electric semi-trucks on the way and a 2nd generation Roadster scheduled to begin production in 2020. The original Roadster was famous aboard SpaceX’s Falcon Heavy demo launch with a spacesuit-outfitted “driver” named Starman in the front seat. That vehicle is currently floating over 200 million miles away from Earth.
Brad Siewert now owns the trademark for “Drone Delivery Butler” which was registered in 2017. Perhaps he’s on to something that will be worth another $75,000 once the concept catches on in about ten years, the approximate time Tesla Motors spent under his stewardship. Then again, the name of one of the most famous butlers in pop culture exists in the Iron Man story, a franchise that Musk has already claimed as the “real life” Tony Stark. Jarvis Neural Networks, anyone?
Elon Musk
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.
The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.
Introducing Liner Truck 3 — our latest fully electric tunnel vehicle.
– Tesla Model 3 battery and drive units
– Transports 22,000+ lb of concrete segments to the boring machine
– 28 miles of range
– 12 mph max operating speed
– Remotely piloted from Global OCC in Texas, with… pic.twitter.com/XB7FgSXnpy— The Boring Company (@boringcompany) August 7, 2026
The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.
The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.
The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.
It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.
Elon Musk
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
