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Tesla should seek to oust Elon from the company. He’s ruining it. Cybertruck, falling sales, and important people heading for the exits.
Tesla should seek to oust Elon from the company.
They can’t. The only thing propping up the ludicrous stock price is the myth of “Elon Musk, Super genius” and the legions of Musk fanboys. If they kick Musk out they lose both and the stock will tank. So they’ve got to keep him in place, even as he runs the company into the ground.
The myth is gone.
It’s not. He even has defenders on Lemmy. Say that he has no experience as an engineer when it comes to cars and rockets and they come crawling out of the woodwork with quotes from people who worship him saying he’s totally an engineering genius.
“But he had the brilliant idea to use robots in automotive manufacturing!” /s
I have a handful of
tankiecapitalism and “democracy” loving, American “traditional” leaning and religious Republican coworkers who absolutely still believe that he’s a genius. They feel that way about other billionaires too.Edit: TIL that “tankie” doesn’t mean “capitalism and ‘democracy’ loving, American ‘traditional’ leaning and religious Republicans.” I guess the shorthand for that is just “stereotypical conservative.”
A Tankie is a Communist who likes Stalin’s method of achieving communism.
That there’s a bootlicker.
Are your tankie friends buying tesla vehicles?
Edit - real question. I have doubts his neo nazi/ libertarian followers are buying EVs because they seem to actively want to harm the environment as much as possible.
I’m genuinely curious what the tankie demographic is like. I could see them as off the grid solar/battery doomsday prepper types.
That’s lovely, but conservatives aren’t the market for solar panels and electric cars.
Judging by the stock value - not at all. Enough ppl are THAT optimistic.
Stock value can take a very long time to adjust. Once consumers and institutions buy a stock, they can’t sell it easily. It’s either a loss to sell it if they bought at a peak so they wait it out or if it’s up and they want out, selling needs to be spread out to limit capital gains tax. If it’s an institution with a large holding, it will cause the stock to drop before they’re out.
Mostly agree, but. As far as I understand it, for TSLA the majority of the bull run is due to relatively small investors riding the hype. Big stakes are indeed rare to change hands, and mostly outside the marketplaces. Should the small guys really change their mind on the stocks, they (or at least the first wave) will easily dump it, and that will move the market by a lot. We can probably see it in YTD results, but still there is no dumping, in my opinion. Just a correction, so far.
Personally would not buy now, though )
Yeah but his fart sucking fan boys still thing he’s a genius.
They also won’t because they are hand selected by Musk. 2 out of 3 board members share his last name.
The other is the alleged director of the board after Musk was forced to vacate the position. All indications are that she is his puppet.
What’s that you say? The stock will tank?
That’s what they said about apple too and they have done pretty well without Jobs, although their quality and vision have suffered.
Far different scenario since Apple didn’t have much choice and Jobs left them with a product pipeline that wasn’t garbage
You didn’t look back far enough.
2nd times the charm in Apples case.
Ousting him would be hard. He owns a significant amount of stock. I like the cybetruck
That said they need to talk him into a less visible role. Hire a real cto and put him in charge of secret projects
The board is all his buddies. That will prevent any real change.
I like the cybetruck
How’d that meeting go? Alright, we’re going to take everything that made the DMC Delorean absolutely useless but add batteries!
At the original price I would have bought one. At the current price, most likely will pass.
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Oh so that’s why he laid off all those people.
Yuuuup
$56 billion could pay 56 thousand workers $100k per year for ten years straight.
Instead they laid of thousands of workers not making anywhere near that sum.
Yet this one man deserves all that “value” he personally surely generated.
Ah, I see you have studied and understand the complexities of corporate finance. Well done, let’s give our CEO a 2,000% raise to celebrate!
-Corporate board somewhere, probably
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How many employees could still have their jobs if that pay package was reserved for salaries instead of bonuses to this guy who spends all day, every day, fucking around with a completely different company he’s running into the ground.
All of them. They could have hired 20x as many as they laid off, and gave them all raises.
Absolutely nuts. That’s about what Tesla’s fair market value should be in total.
Who the fuck is Tesla in this context?
I’d have to assume it’s their board?
If you haven’t seen it, it’s full of sycophants and family members. https://ir.tesla.com/corporate
This news is frustrating:
- I am put off by the judge ruling against it because “it’s unfair to shareholders”. It’s unfair to a lot of people, especially in the wake of layoffs. If the law does not protect the basic necessities for working Americans, then the law needs changing.
- How many of Elon’s workers could get paid a living wage for that $56bn? If he passed it up could he stop trying to oppose unions and make some life-changing concessions for his employees?
- Even putting that aside, how is that money going to change Elon’s life? As in the daily experience of what he eats, vacation opportunities, housing, etc? Because money is kind of like water - it’s incredibly important if you don’t have enough, but once you have more than you could use the only reason to keep hoarding it is restricting others’ access for pride, greed, or leverage (i.e. purchasing influence).
I’m not even as far left of center as I probably sound. I believe that different economic classes should exist or people aren’t motivated - you need to pay surgeons well in order to get enough surgeons. However, “the floor” should be raised to ensure housing/food/utilities security at the cost of “the ceiling” being lowered (or existing at all). Oxfam says a wealth tax of 5% on multi-millionaires/billionaires would solve world hunger in 10 years, lift 2 billion out of poverty, and much more. As of 2023 the bottom half of the USA, as in about 170ish million citizens, only have access to 3% of America’s wealth while the top 10% control just over 66% of wealth. Deals like this, coupled with the mass layoffs across multiple industries, is only making that obscene inequality worse.
How many of Elon’s workers could get paid a living wage for that $56bn?
There are 140,000 employees, so each one could get $400,000. That is WAY more than a liveable wage. He could give every single person in his company $200,000 and STILL have $28B leftover for his bonus. I can’t imagine what it would be like to have a billion, and I’m a pretty imaginative person who makes a lot of money. If someone said to me, “I can give you $56B, or I can give you $28B and 140,000 other people $200,000. You choose.” I would gladly give all of those 140,000 people handjobs by me personally along with that $200k. It might take awhile to give all those handjobs, but I’d commit to it for $28B.
It would take 972 days of 12 hours per day giving 5 minute long handjobs. Roughly 3 years of indentured servitude to get $28B. Worth it.
He should be paying the company $56 billion in damages for the dumb cybertruck he pushed through.
Well ok now let’s tax the fuck out of that.
A bonus that high needs to be taxed at 99%. That would leave $56M, which is more than 99.9% of the world will make in their entire lifetime.
However, the deal was rejected by a US judge in January who described it as “an unfathomable sum”.
I always thought that maybe if Musk was gone someday, it would be ok to like Tesla’s again… Fuck Tesla Forever.
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