Tesla lays off almost all of its Supercharger and new vehicle development employees, causing concern for other automakers (Bloomberg)
- Thread starter RBH
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So what is the general feel on the compensation/relocation shareholder vote? Is it expected to pass or is it still an unknown?
I've heard it mentioned that if it passes it would likely be challenged again, but in which court would that then be, Delaware or Texas?
I've heard it mentioned that if it passes it would likely be challenged again, but in which court would that then be, Delaware or Texas?
I don't get it. CEO running the company into the ground and still so many shareholders feel "he deserved that compensation" and are willing to take money out of their own pocket to give it to him?
They don't care about the value of the company, they care about the value of the stock. And Musk has largely successful at keeping the number stupidly high.
I think most of these investors don't see things this way. A lot of investors know that the value of the stock is grossly inflated but credit Elon with being responsible for that. They're willing to give him billions because without his false promises the value of the company will return to realistic levels. It's basically a hostage situation but the hostages are just as bad as the kidnapper. There may be some big investors who got in early enough that ripping off the band-aid won't hurt their bottom lines but a lot of retail investors will get wiped out if Elon throws a tempter tantrum and quits if/when he loses the vote.
Yeah, but Elon's a hostage too. Esp considering how levered he is. No other billionaire has ever borrowed against so much on such volatile assets that they'd ever be at risk of getting margin called.
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Elon Musk urges investing legend Warren Buffett to buy a stake in Tesla: ‘It’s an obvious move’
Tesla investors have long prayed that the Berkshire Hathaway icon would bless their totemic CEO with an investment in his EV company rather than back rival BYD.
Shouting for a life preserver after jumping off the boat.Elon Musk urges investing legend Warren Buffett to buy a stake in Tesla: ‘It’s an obvious move’
Tesla investors have long prayed that the Berkshire Hathaway icon would bless their totemic CEO with an investment in his EV company rather than back rival BYD.fortune.com
A high amount of Tesla shareholders are no better than degenerate gamblers. Tesla is their money maker horse they just can't give up on. There's always a chance for another big win. One more big stock price bump and they're cashing out, they promise.
SpaceX employees rn
SpaceX employees rn
I propose Muskholm Syndrome as an official name for this phenomenon.
A high amount of Tesla shareholders are no better than degenerate gamblers. Tesla is their money maker horse they just can't give up on. There's always a chance for another big win. One more big stock price bump and they're cashing out, they promise.
SpaceX employees rn
A high amount of Tesla shareholders are no better than degenerate gamblers. Tesla is their money maker horse they just can't give up on. There's always a chance for another big win. One more big stock price bump and they're cashing out, they promise.
SpaceX employees rn
The sunken cost fallacy has incredible gravity.
It does prove how greedy and desperate people are for money. They will let Elon and the board rip them off as long as they are promised that they will get some.
Tesla cuts all but 3 of its 3,400 listed jobs in North America
Tesla cuts all but 3 of its 3,400 listed jobs in North America
The EV maker cut over 3,400 job postings in North America — but it's still listing some open roles on LinkedIn.
www.businessinsider.com
GM wants to scoop up interns impacted by Tesla's cuts
GM wants to scoop up interns impacted by Tesla's cuts, recruiter says
GM is ready to capitalize on Tesla's jobcuts. One recruiter asked students impacted by Tesla's decision to rescind internships to get in touch.
www.businessinsider.com
but they'll be re-branded as Terafactories to hide the truth, amidst a lot of "fake news!!" shouting
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Tesla executive says he's resigned as recent layoffs hurt morale and throw the company 'out of balance'
Tesla executive says he's resigned as recent layoffs hurt morale and throw the company 'out of balance'
Tesla's former head of product launches, Rich Otto, said layoffs are "rocking the company and its morale."
www.businessinsider.com
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Thieves hit four Tesla Supercharger stations in Houston area this week
Since his report, more charging stations across Houston have been ransacked, leaving electric vehicle owners without a spark.
www.click2houston.com
Elon Musk really wants you to think Tesla still has a Supercharger plan
View: https://twitter.com/elonmusk/status/1788834859110002716?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1788834859110002716%7Ctwgr%5Eeb0539d7656c3fba1521860ac3fc60a81bb93c01%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.businessinsider.com%2Felon-musk-tesla-superchargers-strategy-investment-electric-vehicles-firing-team-2024-5
Elon Musk really wants you to think Tesla still has a Supercharger plan
The Tesla CEO reiterated his commitment to Tesla's charging network despite recently axing almost the entire Supercharger workforce.
www.businessinsider.com
Elon Musk really wants you to think Tesla still has a Supercharger plan
View: https://twitter.com/elonmusk/status/1788834859110002716?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1788834859110002716%7Ctwgr%5Eeb0539d7656c3fba1521860ac3fc60a81bb93c01%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.businessinsider.com%2Felon-musk-tesla-superchargers-strategy-investment-electric-vehicles-firing-team-2024-5
Elon Musk really wants you to think Tesla still has a Supercharger plan
The Tesla CEO reiterated his commitment to Tesla's charging network despite recently axing almost the entire Supercharger workforce.
Anything to pump the stock
imagine a future where car GPUs get stolen like they were catalytic converters.
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Thing is actual stakeholder are kinda stuck with him. If he goes (or doesn't get his package), so does his "visionary" shtick where he constantly sells the moon, which means no more meme stock, which means less money for stakeholders.
It's a tulip farmer trying to pivot to snake oil salesman type of situation.
Shouldn't the SEC or whatever be investigating this as lying to investors if he's just straight up lying in that tweet? How is this being allowed?
I honestly don't know how he hasn't been raked by the SEC for basically taking the company hostage. He's out there holding a gun to people's heads saying: "if you don't approve this deal I'm gonna kill the company and your investment along with it."
It's freaking mental is what it is
I'm pretty sure there was a ruling that the Tesla board has to greenlight every post about Tesla.
So that post should be greenlit by the board of Tesla.
I believe whoever greenlit that is also responsible for the statement by that ruling.
yea i guess.
i bought a bunch of tesla stock during the early pandemic stages, where stocks were going up and down like crazy.
Sold them in 2022 after the racism stuff came out. No regrets.
He is kinda stuck with Tesla too. He's bluffing about leaving it or even spending less time. (Though honestly, does his contract to be CEO not mandate some minimum amount of time spent doing the job? People who actually contribute to the company would get fired immediately if they had as many side gigs as he does.)
His wealth is mainly in Tesla and SpaceX, and the latter is a private company so harder for him to sell off stock or even borrow against it. He could tank the Tesla stock, but he'd be threatening his own wealth too. And unlike every other founder-billionaire, he's borrowed against so much stock he likely could be threatened by a margin call if the price really drops. Every other ultra-rich guy doing the buy-borrow-die strategy (1) isn't mostly invested in a meme stock and (2) isn't remotely as levered.
Protesters attempt to storm Tesla's factory in Germany
Oh yeah he's completely stuck with Tesla (unless he wants to take SpaceX public, which with how things are going at Tesla and his voting share vanishing isn't likely). But from his appearances, he actually likes being the hypeman, so I think he doesn't mind too much (as long as he can keep the stock high)
I believe he set up SpaceX with dual-class shares, so he would retain control even after selling off majority ownership.
A Tesla supplier says it's still in limbo 2 weeks after Elon Musk fired the entire Supercharger team
A Tesla supplier says it's still in limbo 2 weeks after Elon Musk fired the entire Supercharger team
Elon Musk abruptly fired the team running Tesla's electric vehicle charging business at the end of April.
www.businessinsider.com
Tesla Rehires Some Supercharger Workers Weeks After Musk's Cuts
There is no chance in hell I'd come back under those circumstances but I guess I'm happy for this just because it was unfair and other EV manufacturers need a robust charging network in North America in order for us to get off combustion engine vehicles.
I'd imagine it's mainly higher ups who'd be in a contractual hiring freeze. I'd imagine the actual skilled people are happily being poached
No doubt in my mind that they have a hell of a paycheck or get an even much better paycheck to return.
I mean, a paycheck is a paycheck, but I wouldn't sign any NDA or anything that would prevent me from working for a competitor if they tried to being me back.