3 ms·

Wasn't the argument that a lot of internal folks didn't think the targets were absurd? That's what I read in the court document.

• blackeyeblitzar 2y ago
  That’s the claim, but the court document’s tone and language shows this was an ideological decision for the judge rather than a factual determination. Regardless, shareholders just voted again on that same exact package retroactively and re approved it. This was a clear indication that the market still feels, even in hindsight, that the past targets were deserving of the equity granted. What internal folks thought or the judge’s guess about shareholders being “tricked” doesn’t matter since it is something shareholders (owners of the company) have judged on their own with all the information they have now about past performance. Also, neither Elon nor his brother voted on the measure. So to me all this serves as evidence that enough people think the targets were absurd enough to at least justify the equity.
  • tock 2y ago
    The cult of Elon is a large reason for Tesla's ridiculous valuation so it makes sense to give him credit. I just find it hilarious that Tesla's total profit over all these years is still lower than this pay package.
    • slimebot80 2y ago
      Exactly, and now the shine is gone, along with a timely 56 billion.
• ivewonyoung 2y ago
  If internal folks really thought the share price would increase by 983%(the pay package target), they would have bought shares with all the money they have, plus sell/pawn everything they have and borrow as much as they could. That didn't happen.
  • tock 2y ago
    Yes courts make decisions based off hypothetical human behaviour and not documented evidence.
    • ivewonyoung 2y ago
      Even the courts get greedy while making decisions. https://en.m.wikipedia.org/wiki/Kids_for_cash_scandal https://en.m.wikipedia.org/wiki/Kids_for_cash_scandal