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this post was submitted on 03 Dec 2024
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Yeah this is an example of corporate corruption, where enough voting shares are in the hand of a minority of investors and the leadership team is under their control.
It is in no way a good idea for Tesla to give away $54bn. The only person this pay package is good for is Elon Musk.
Elon is trying to extract money from the company because he knows it's in decline. Profit is down since 2021, sales are down, and most of the crazy high value of the company is around expected future tech that is basically broken. Tesla's self drive tech is broken because Elon Musk himself interfered to keep the costs down, and they are stuck with a lemon.
Meanwhile their competitors are making more and cheaper electric cars, and also are further along in self driving tech. The idea of a fleet of autonomous cars that Tesla sold itself on is sound but it isn't going to be delivered by Tesla.
Tesla stock is a speculative bubble and it's only a matter of time before it pops as people realise it's not going to deliver the dream it claims. It's conpetitors will. Tesla could have succeeded but the guy who didn't even found the company fucked them by interfering.
Elon Musk is nothing more than a loud mouth investor. He's had a lot of luck in what he's invested in but he himself is a moron.
Yes, and most of all he’s got to be able to cover the Xitter loan before it all goes tits up.