[stackskipton]

SEC rules means CEO cannot lie or deliberately hide the cost of something.

50%+ Margin statements have basically been "We are making 50% on delivering it." This does not include ANY of the costs of getting to this point, training, scraping, datacenters, people and so forth.

They are basically saying "Oh yea, the cost of GAS in the car is only X so charging Y per mile is great margin" while ignoring maintenance, cost of acquiring the car and so forth.

[postflopclarity]

but comparing your margin of charging to drive a mile to the price of gas makes a lot of sense? that is the only variable cost in the equation. training / scraping / people are all pretty much fixed costs.

[stackskipton]

Maybe, maybe not. None of us know since these companies are not public, we are not getting clear accounting.

[paradoxyl]

That's a tad naive. CEOs can and have and often lied about everything:

Sam Bankman-Fried, Elizabeth Holmes, Kenneth Lay - and hundreds if not thousands more.

The SEC is a regulatory agency, not able to bring criminal charges. The above-named for the most part had to be prosecuted by the Department of Justice or sometimes state attorneys.