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They are probably leaving because Elon works them like he works his engineers. They want nice cushy executive jobs and Elon does not give those to them. Finance
by devoply 8y ago
They are probably leaving because Elon works them like he works his engineers. They want nice cushy executive jobs and Elon does not give those to them. Finance people are a dime a dozen. It's not as if any actual irreplaceable knowledge is being lost here.
- smnrchrds 8y agoIt always amazes me how some people dismiss and underestimate every profession except their own, but fail to see the irony and hypocrisy in that.
- p2detar 8y agoBut isn't that right though? Tesla build cars, not fintech products. What irreplaceable knowledge are they losing in this particular case?
- DevX101 8y agoLeading finance for a capital intensive company like Tesla is not a 'dime a dozen' job.
- jonknee 8y agoTesla builds cars by relying on very complex financing. Financing is critical to Tesla existing for the long term.
- tomjakubowski 8y agoAny knowledge which wasn't transferred into a document of some kind will either be lost or have to be re-learned by experience. High turnover in any sector is terrible for business. This is true even for relatively "unskilled" labor: informal, often unwritten practices between workers are essential to any kind of collaborative work. See the "slightly different sense" here: https://en.wikipedia.org/wiki/Work-to-rule https://en.wikipedia.org/wiki/Work-to-rule
- tedunangst 8y agoTesla is asking suppliers to return money already paid to them. Turnover in the finance department probably impedes those negotiations.
- loftyal 8y agoNot in this case. The only reason Tesla is known is solely because of engineering and design.
- planteen 8y agoFinance workers are used to working insane hours, especially on Wall St., so I'm not sure I buy that. My theory - finance people are more familiar with the law and less willing to skirt it. They know the consequence can lead to them personally going to jail or getting their CPA revoked.
- goobynight 8y agoIt's only insane hours for 4-10 years right? From what I can tell, I-bankers put in their time and either rise to a cushier role within the bank or they get into something else.
- Mvandenbergh 8y agoIt depends on the role. If you rise into a position where you are managing customer relationships or otherwise have a P&L that is directly attributable to you, your hours become - not necessarily shorter - but not the primary thing you are judged on. An M&A banker who spends two days a week on the golf course and only rolls into the office once a week on a Thursday afternoon to tell his colleagues about the new mandate he secured for the firm isn't going to get shit from anyone. On the other hand - above a certain level, no sales = good night, sweet prince. Juniors are judged by long hours and making sure their commas are perfect (in documents rarely read by clients) because there is nothing else to judge them on.
- watwut 8y agoYou are aware that not allowing boss to take advantage of you when you have choice is a good thing? Like, Musk abuses his engineers who meekly accept that sort of thing. The theory that finance people standind up to it is something bad is absurd.