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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 figh
by 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.
- techostritch 2y agoThe agreement was voided, nothing is “due”
- Zigurd 2y agoNot only was the agreement voided, it was voided for reasons that call into question the composition of the board and their duty to shareholders. The way this defective agreement was created was sloppy AF. The board didn't even go through the motions of compliance when it was drafted and approved. Ii suspect they got used to getting away with things because they prevailed in the Solar City suit.