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They are in a tough spot re:Elon. While long term, distancing Tesla from Elon and focusing on developing better EVs that out compete BYD, Xiaomi and other Chine
by darth_avocado 1y ago
They are in a tough spot re:Elon. While long term, distancing Tesla from Elon and focusing on developing better EVs that out compete BYD, Xiaomi and other Chinese competitors would be the healthy move, they also realize that the company’s unreal valuation is completely tied to Elon and his made up storylines that never get delivered (FSD, Semi, Roadster 2, 4680 battery etc.). Dumping Elon would wipe out hundreds of Billions in shareholder value and the lawsuits would be brutal.
- rickydroll 1y agoWhat do they say in most commercials about investing? Oh yes, "Investing in securities carries the risk of loss." They could sideline him, perhaps put him in an oubliette for a while, then make some serious improvements to the current product line and start cultivating a culture of working without Musk.
- darth_avocado 1y agoI agree with the sentiment, however the board has fiduciary responsibilities towards the shareholders. If they make decisions that materially affect the company, in this case by destroying the valuation, then the shareholders can sue. It will be extremely difficult for the board to justify that having Elon and letting him do whatever he wants is more damaging for the stock than kicking him out.
- tayo42 1y ago> his made up storylines that never get delivered I don't get who is still out there believes him enough to put their own money into this company. But the stock keeps going up. I just don't get it?