Laid off entire supercharging team because this logic Tesla bros are silent since first layoff.
Why are layoffs happening in tech across the board though? i understood pandemic created inflated stocks at some point but why are they still continuing??
interest rates and copying/social proof taking effect. that's my theory.
Mostly copying.
I like Elon Musk personally, but never in a million years would I want to work for him. The real problem is that all the copy catting parrots and morons in the industry are going to see this and now think they should do the same thing as usual. ugh.
Is Elon excellent, necessary and trustworthy?
Layoffs are part of life, but how you do it matters a lot. Elon sets up a great example of how NOT to do it. Instead of showing (even faked) sympath and compassion, he shows his narcissism, demeans, and insults who he fires.
ketamine has fried this dude’s brain
Good old Andy Grove’s quote fits: Success breeds complacency Complacency breeds failure Only the paranoid survive Tesla had the largest DC, fastest & most reliable DC charging network. They opened it up to other manufacturers now. So they have to worry about not only capacity issues with their own cars charging, but third party manufacturer cars taking up space at the chargers. They’ll be making money, but unless they start scaling, the quality of service and ability to access a supercharger when you need one will be compromised. This also means that it’s a signal to other charging networks that they can catch up with Tesla and take market share. And those 500 or so engineers? They’ll probably be hired quickly to help design new 400/800V DC chargers and infrastructure for them. Tesla dropped the ball on this, they were literally making cars and owned the gas stations for them too. Making money on both sales and daily use of the vehicles. It’s as if Ford and Standard oil would’ve merged in the 1920’s/1930’s.
No they are not engineers
Even if they’re not, they probably were involved in property/rental deals, location planning and supplier contracting. Given Tesla’s worldwide network of chargers, it’s still strong experience to help other charging networks to expand and find good locations.
Now is a good time to buy TSLA puts. Still a long way down from the bottom I imagine
Tesla is competing with Chinese companies, like BYD, selling EV’s for $9,700. Cost structure in US is uncompetitive compared to China and they are backed by the CCP.
The board should start with Elon. He maybe spends 20% of his time as CEO and wants $55 billion comp package. The equity tradeoff isn’t there. What the fuck incentivizes him to work harder than he should be today? He’s already adequately staked in the company. His incentive is to increase shareholder value for the 20% of the company he already owns. Not to replenish the 40 billion he incinerated as collateral to buy twitter and burn it to ground. There is absolutely zero corporate governance on the board at Tesla right now. That’s scary.
I legitimately can't remember another example of a C suite so brazenly trying to continue to vacuum up equity of a company when they already own significant shares.
Tesla’s stock was around $18-$20 when Elon got the pay package in 2018. Over the next 6 years the stock is now 10x at 180, and at certain points in between was nearly $400 (20x). Is that not enough “value” for you? Take smaller numbers, let’s say in 2018 you were promised 200k salary for the next 5 years plus 10 million bonus if you hit certain targets by 2023. You hit the targets somehow and pull it off, now they reneg and take away the 10 million. What do you do?
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Can’t believe there’s still nut huggers who will defend him. They think he’s immune from criticism. Guess what nut huggers, he tried to rollout a product and it was a huge failure in sales and costs. He doesn’t deserve the bonus because his performance was poor.
a lot of empty statements here, what are you trying to say? he is doing what he thinks it's good for the business. should someone like you or OP run tesla instead? replace elon with you, would TSLA shoot up because of your extensive experience in reading reddit about building successful businesses?
spotted the nut hugger