- cross-posted to:
- news@lemmy.world
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Musk is a liability at this point. Why are they afraid of losing that liability and avoiding him most likely dumping many of those shares?
Because Tesla isn’t a car company, and they know it. Tesla’s entire profit is based on selling carbon credits to other car makers, and those other car makers aren’t buying anymore and Tesla’s sales are dropping hard.
The only thing keeping Tesla afloat is investors, and Musk has an amazing talent in lying to people to get them to hand over money. That money can then be turned into pay and bonuses for the board.
So yeah, the more money Musk can bring in, the more they get paid. The more Musk can inflate the share price, the more their options are worth.
It’s important to remember the board isn’t rewarded for building a solid company, they’re rewarded for a high share price, and failing that, they still get paid.
Musk doesn’t have a talent in fuckin’ anything. He just normally lied to people at the beginning and hasn’t stopped making the same claims, or dumber ones. The only people who fall for it are complete morons and that just shows even more than ever how far from important decisions the 1% should be.
He’s extremely wealthy and has an army of fanboys, presumably they want to avoid his immediate retaliation and attempts to tear down the brand.
This is to say nothing of the main issue, which is that he stacked the board with allies who will benefit from his payout indirectly.
That fucking lady is unhinged. Where tf else would he go? He’s only there bc of how much he put in during the early years. His ideas are fucking terrible and his management style is a deterrent.
Sounds like a board full of sycophants and bootlickers.
I think Tesla would benefit by Elon leaving at this point.
What value did he deliver the company? It’s back to 2020 value!
@Nerrad Well, his pay package passed. Now Tsla shareholders are suing him for starting a rival AI conpany anyway.
