In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader in artificial intelligence and robotics without a compensation plan that would give him ownership of around 25% of the company’s stock. That would be about double the roughly 13% stake he currently owns.
Just casually asking for a roughly 80 Billion dollar pay raise. But at this point would Tesla be better off without him?
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Tesla should move on from Musk
The world should.
As someone who still drives a Tesla vehicle I bought years ago, well before Musk totally went off the rails, can he please just leave?
You could always trade it in.
I hate to be that guy, but no one is forcing you to keep owning it and keep dumping money in Musk’s pockets every time you need it serviced.
You want him to go away but you keep handing him money. Curious.
In the 5 years I’ve owned my Model 3 it’s never needed any service. Only new tires. They are not even remotely as bad of a car as clickbait sites make them out to be. Yeah yeah Teslas aren’t perfect, but no car is. Be realistic.
It being associated with Musk and his crazy rants is annoying though. Almost annoying enough to trade it in, but I don’t particularly want to spend a bunch of money and getting rid of an almost like-new working car.
I’m being realistic. You’re embarrassed by it and association with Musk.
Musk is genuinely a bad person who is pushing bogus race science and other horrible unequivocal bullshit.
It’s great that it hasn’t needed service, but my point stands: once it needs service, you will be handing money to Elon Musk.
If you want him to go away that badly, there are things you could do. Like trading in your vehicle for another EV. There’s other brands, who are not run by a racist, misogynist, ableist, megalomaniacs.
You can complain on the internet all you want, but if you’re unwilling to find a way to not give him money, you’re just one more person with Elon’s foot stuck up your ass.
So send them the money to get a new car or stfu
The recall of 2012-2023 models of the Model 3 tells me otherwise.
It’s actually an OTA update.
Which, and try to follow me here, would count as being serviced.
Interest rates and depreciation make that a losing bargain, better to get the utility out of it now that the trade in is low and interest rates are high
If I made a demand like this I’d be fired
Yeah but you’re not the CEO of the company.
If I made a threat like this as CEO when I also work two other jobs with a now clearly defined conflict of interest, I would ABSOLUTELY be fired by the board!
If the board wasn’t made up of asskissers.
He brings ZERO value to tesla after all his FSD lies and others were exposed.
Sure people still fall for tesla crap, but he himself is useless now.
If they could get someone boring like Tim
AppleCook, that just runs the company very well and profitably… Tesla would be sitting pretty good with their dominant place in the Electric market. The only reason most people dont pick tesla for an EV is literally Elon.Unfortunately, idiot Elon gets his grubby fingers ALL OVER every last piece of tech in the Tesla. It’s ALL shoddily engineered because of him. Like simple, time tested engineering concepts like redundancy? Elon would fire you. He eliminated redundancy in their FSD, choosing to rely solely on computer vision and machine learning. He literally had a good design for the sensor modules and got rid of it. Tim Cook doesn’t sabotage Apple’s engineering team like that.
As opposed to dunking on him, I am going to outline why he can’t do anything but cry about it:
- Once you IPO in Delaware like Tesla did, you can’t issue a second class stock
- At least not without liquidating your assets and re-incorporating, which means all shareholders have to agree and this certainly means shareholders will hold a smaller bag, this will go to court (probably in Delaware, a state Elon has little chance of winning given how Twitter/X turned out), and the process will be impeded. This is not an overnight process.
This is compounded by the fact that Tesla’s stock value pretty much comes from Elon’s manipulation and grandstanding, so anything that reveals this will cause the boat to rock, so anything he does will impact the stock price, which impacts his wealth.
Nobody will loan him money to buy more stock. If he could, he wouldn’t be crying about it. Or, more than likely, he could get it, but it means coming from MBS or similarly questionable sources and he’s on such good footing with them over how Twitter/X is going. This will increase the scrutiny he’s getting from the DOJ or the people at CIA who may drop a sword on his head.
He has at least two loyalists on his board: Kimbal Musk and JB Straubel. James Murdoch can no longer be considered one since its his other publication, the Wall Street Journal, that went to press about his drug issues.
Long and short, Elon has been reduced to begging. We could be watching the end of his tenure at Tesla, but this fucker is full of surprises.
I mean he “can do nothing but cry about it” in the same way anyone can do nothing about a request for a raise. He can say he will quit if they don’t give it to him.
I certainly have no interest in buying one as long as he’s still involved
What brand do you suggest in the alternative?
Volvo’s EVs seem pretty nice
Just found out Volvo is owned by a Chinese investment group, not sure how I feel about supporting that either.
Is it even possible to ethically buy a car in this day and age?
what’s the difference between a Chinese investment group and a US investment group? They are both terrible. There’s no ethical mega corp, I’m afraid.
While your statement is accurate and I won’t necessarily argue it, I think it’s a bit simplistic in a nuanced world.
Well considering telsa isn’t even the #1 ev any more? I guess anything else.
In the world, but not in most western nations.
Edit: why the downvotes? If I wanted to buy a car from the number one brand in my nation, I couldn’t right now. BYD isn’t selling cars in the US. Moreover, their presence in Europe is still small.
They downvote you because that’s a very western-centric vision.
Additionally, a car manufacturer in one of your western nations, Volkswagen, is also one of the top EV manufacturers.
And nearly every other manufacturer like Hyundai, BMW, Mercedes and Ford are now making EVs too. So it’s not like there’s a shortage of non-Tesla EVs in the western.
All I’m saying that #1 is relative with car brands.
In Europe and the Americas, the Model Y is still king. By you’re right, VW group is catching up.
Right now BYD is killing it because they’re affordable and a brand that centered in the world’s largest auto market. Outside of China, BYDs numbers are very very different.
What makes the Y “king”?
I think Tesla would do better if he walked away. The whole fake Iron Man shtick was hardly believable a decade ago
Just fire the cunt ! Into space !
Maybe he shouldn’t have spent all that money on
avocado toastbuying a failing social media platformAfter seeing what he has done with Twitter, I’m not sure Tesla is interested in that deal.
You’re giving the likes of Kimball Musk and James Murdoch way too much fucking credit here.
His board is filled with fucking sycophants. They won’t go against him, especially his fucking brother.
It’s hardly a board that is looking to control you when you’ve filled it with Yes Men.
Why haven’t shareholders elected new board members? Or does his sycophants have the majority in combined total?
There’s good reason to believe that Tesla is an Enron-esque style fraud. No one in charge has shown any business acumen, and no one can explain how it is actually profitable. But that requires only stooges and yes-men on the board. There cannot be any accountability.
Every time I leave my house, I see dozens of Teslas driving around. If they’re not profitable, then they’re horrifically bad at making money. They’re ubiquitous. Pretty impressive market penetration for a business run by people who don’t know what they’re doing.
Their single biggest revenue stream is selling carbon credits. They’re basically a regulatory arbitrage business with a side hustle in cars.
Just like Amazon who is a cloud computing company with a side hustle in e-tail or Google which is an ad company with a side hustle in tech.
In general most people don’t really understand this about big companies.
Yeah but in their cases the “hustle” got them the funds to move into their current space. Musk just had so much money that Tesla outlasted all the red it was in. Same thing going on with Twitter.
We all know it’ll never fully go under, he has too much money for it too. It’ll last long enough to sooner or later come back up.
This is the best summary I could come up with:
In a series of posts on X Monday night, Musk said that he would not want to grow Tesla to become a leader in artificial intelligence and robotics without a compensation plan that would give him ownership of around 25% of the company’s stock.
Notably, Musk held a stake of more than 20% in Tesla before he sold a large number of shares to buy X, the social media company he purchased over a year ago for $44 billion.
In January 2022, he said on a call with Wall Street analysts that he believes the company’s goal of building a humanoid robot is the most important technology it’s developing.
Nevertheless, Tesla believes in a robot-led future, and investors have sent the stock surging over the past year in the hopes that Musk & Co. can deliver innovations that propel the company to new heights.
The deal was so large that Musk and Tesla faced a shareholder lawsuit over the package last year, and they continue to await a Delaware Chancery Court ruling on whether the pay was excessive.
Musk and the Tesla board of directors were accused of breaching their fiduciary duties for waste and unjust enrichment.
The original article contains 743 words, the summary contains 197 words. Saved 73%. I’m a bot and I’m open source!
Here have the standard HR answer: sorry we don’t have the budget due to outside factors, also we’re doing layoffs in your department.
If I was a shareholder or board member and heard “I don’t want to grow the company in ways you want with out a raise” I’d hear it as “he’s no longer doing the job we hired him for. Publicly going against our wishes.” Which is a short cut to getting fired in any other job on the planet.
I’m sure Tesla’s investors have a constant fear the stock market will figure out Tesla is a car company and start to value it as such (instead of valuing it more like Google or Apple). He’s basically saying, “If you don’t want to loose 2/3rds of what you have locked up in the company when the market corrects, you’ll give me 12% to continue the pivot.”
Sadly, I’m guessing it’ll work.
meh. let him do it. let tesla fail, just like twitter. id like to laugh as he scares the rest of the market away.
his next model z will prolly have a lighting bolt through the middle of the Z
