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Elon Doesn't Care About Tesla Anymore': Musk's Biggest Fans Are Turning on Him

12 points by elsewhen 2y ago

reify 2y ago
Not is seems on HN where we are constantly bombarded with this meaningless banal junk about Lone Skum.
aurareturn 2y ago
Put yourself in the shoes of Elon. The challenge of EVs are mostly behind us. It was hard to get the first EV off the ground and make them mainstream. He enjoyed the challenge. But in 2024, Chinese EVs dominate. Making another Tesla model is not interesting to him and it won't really move the needle for Tesla nor would it stave off Chinese competition. So he's off to the next shiny thing which is AI and space.
- techostritch 2y ago
  But putting myself in Elon’s shoes he’s been talking non stop about how great Optimus and robotaxis are going to be, and that Tesla’s valuation is about to moon, why not just start a new pay package with new price targets if Tesla is on the presipice of printing money?
- rurp 2y ago
  He has every right to step down as CEO, but instead he has stayed on and used Tesla as his plaything and piggy bank. Don't forget that shortly before the Delaware court decision he was demanding an additional giant block of equity be handed to him for nothing, because reasons. He's clearly done being fully engaged with Tesla, the only question is how many dozens of billions he can extract for himself on the way out.
- TheAlchemist 2y ago
  The challenge of EVs may be behind, but the challenge of Tesla earnings living up to Tesla's valuation is very much in front of us. Mind you, Musk already sold and cashed out of Tesla more than the cumulative profits of the company since inception. Tesla started burning cash again last quarter (and rather quickly !) and all signs point to a much more severe cash burn for the next quarters. So if by challenge, we say - hyping robotoaxis, Optimus, EVs dominance (anybody remember how Tesla was projecting last year, a 50% growth up to 2030 ??), then yeah, it's job done. But now is the hard part - delivering on those promises.
ryzvonusef 2y ago
Wasn't there some adage about war time and peace time CEOs? Anyhoo, Tesla's wartime is over, no more "bankwupt" memes, no more production hell, all the models in the "SEXY CARS" line up have been launched. So fire Elon, let him become Tesla Chairman again, hire a new CEO, and start the new phase. ---- However, that said, all these people/organizations quoted in the article (Gerber, Koguan, CalPERS etc) benefited greatly form Elon's wartime activities. He stayed in the factory overnight to fix production problems and whatever else was required, they didn't. His magic was relevant in causing the share price to moon. You benefited from him, now pay the Elon Tax. Pay his share package, no matter how high, and THEN let him go. I have no sympathy for shareholders who benefited massively from efforts but now suddenly pretending to be all moral. Atleast short sellers were honest in their hatred, shareholders suddenly finding Jesus when the share dilution became real are filthy hypocrites. Elon was always like this, you just couldn't hear it over the KACHING! the share price rise made. _____ It would be hilarious though, if they refused to pay, Elon is double-dared to quit and he actually does, causing share price to crater and the tech staff quits like how it was after Altman and Open AI. I would love to get my popcorn ready for that.
- techostritch 2y ago
  Seems odd to me to promote the idea that in a highly competitive capitalist environment, investors should dilute their own shares to be… Nice? Musk would fight this tooth and nail if it was someone else’s pay package.
  - ryzvonusef 2y ago
    > to be… Nice? to pay what's due. Capitalism, you got something, pay up. CEOs are paid stock instead of cash because of, among other reasons, goal congruence. Elon was given different conditional tranches, worth about~ $2.5bn in 2018, specifically if he turned into $56bn, or he got nothing. He did that, he got rich and by proxy, so did these shareholders. Gerber and Co went to all the news channels to promote him, he wasn't weird then. They can pay the piper now.
    - 2y ago

12 points by elsewhen 2y ago

Not is seems on HN where we are constantly bombarded with this meaningless banal junk about Lone Skum.

Put yourself in the shoes of Elon. The challenge of EVs are mostly behind us. It was hard to get the first EV off the ground and make them mainstream. He enjoyed the challenge. But in 2024, Chinese EVs dominate. Making another Tesla model is not interesting to him and it won't really move the needle for Tesla nor would it stave off Chinese competition. So he's off to the next shiny thing which is AI and space.

techostritch 2y ago
But putting myself in Elon’s shoes he’s been talking non stop about how great Optimus and robotaxis are going to be, and that Tesla’s valuation is about to moon, why not just start a new pay package with new price targets if Tesla is on the presipice of printing money?
rurp 2y ago
He has every right to step down as CEO, but instead he has stayed on and used Tesla as his plaything and piggy bank. Don't forget that shortly before the Delaware court decision he was demanding an additional giant block of equity be handed to him for nothing, because reasons. He's clearly done being fully engaged with Tesla, the only question is how many dozens of billions he can extract for himself on the way out.
TheAlchemist 2y ago
The challenge of EVs may be behind, but the challenge of Tesla earnings living up to Tesla's valuation is very much in front of us. Mind you, Musk already sold and cashed out of Tesla more than the cumulative profits of the company since inception. Tesla started burning cash again last quarter (and rather quickly !) and all signs point to a much more severe cash burn for the next quarters. So if by challenge, we say - hyping robotoaxis, Optimus, EVs dominance (anybody remember how Tesla was projecting last year, a 50% growth up to 2030 ??), then yeah, it's job done. But now is the hard part - delivering on those promises.

ryzvonusef 2y ago

Wasn't there some adage about war time and peace time CEOs? Anyhoo, Tesla's wartime is over, no more "bankwupt" memes, no more production hell, all the models in the "SEXY CARS" line up have been launched. So fire Elon, let him become Tesla Chairman again, hire a new CEO, and start the new phase. ---- However, that said, all these people/organizations quoted in the article (Gerber, Koguan, CalPERS etc) benefited greatly form Elon's wartime activities. He stayed in the factory overnight to fix production problems and whatever else was required, they didn't. His magic was relevant in causing the share price to moon. You benefited from him, now pay the Elon Tax. Pay his share package, no matter how high, and THEN let him go. I have no sympathy for shareholders who benefited massively from efforts but now suddenly pretending to be all moral. Atleast short sellers were honest in their hatred, shareholders suddenly finding Jesus when the share dilution became real are filthy hypocrites. Elon was always like this, you just couldn't hear it over the KACHING! the share price rise made. _____ It would be hilarious though, if they refused to pay, Elon is double-dared to quit and he actually does, causing share price to crater and the tech staff quits like how it was after Altman and Open AI. I would love to get my popcorn ready for that.

techostritch 2y ago
Seems odd to me to promote the idea that in a highly competitive capitalist environment, investors should dilute their own shares to be… Nice? Musk would fight this tooth and nail if it was someone else’s pay package.
- ryzvonusef 2y ago
  > to be… Nice? to pay what's due. Capitalism, you got something, pay up. CEOs are paid stock instead of cash because of, among other reasons, goal congruence. Elon was given different conditional tranches, worth about~ $2.5bn in 2018, specifically if he turned into $56bn, or he got nothing. He did that, he got rich and by proxy, so did these shareholders. Gerber and Co went to all the news channels to promote him, he wasn't weird then. They can pay the piper now.
  - 2y ago