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Tesla offers mammoth $1T pay package to Musk, sets lofty targets
- xnx 1y agoJust need to make some memecoin that can only be farmed on the cybertruck processor.
- chillingeffect 1y agoHow are they not noticing cheaper, better cars, pending lawsuits, toyota's invention of aluminum batteries making lithium obsolete, end of early mover advantage, and history of underdelivering?
- nomel 1y agoI think you misunderstand. There's no reason to think they're not aware. It's more: "If you do this very difficult, nearly impossible thing (given the current situation), we'll give you a ridiculous amount of money for the miracle, because you'll make us rich in the process".
- blargey 1y agoSince it's apparently all denominated in stock, and vesting is conditional on multiplying the stock price 7.5x over the next decade*, every misgiving over the current valuation should make this package all the more worth it to shareholders (who the board is supposed to represent). *or at least the sort of operational milestones that make for the kind of pithy headlines that prop up the stock price
- WaltPurvis 1y agoI believe Tesla bulls are banking on robots, robo-taxis, and other products. Surely nobody believes Tesla's consumer car business is poised to grow. (Given the history of under-delivering, etc., I wouldn't bet on Tesla dominating robotics or any other field, but as I understand it, this incentive package has no particular downside for shareholders.)
- 0cf8612b2e1e 1y agoI have not kept up- what does their industrial battery segment look like? That seemed like a market with huge growth potential, but maybe batteries are too commoditized now. Plus, supporting the renewable woke agenda.
- chillingeffect 1y agoWhat kind of robots? Factory robots? Androids? China has abt 3 android companies for every american one. It's also an unproven market. Android forms are not great at asserting force in any direction yet. Complex vision remains a problem, but will hopefully advance. Im not pessimistic, but the risk is enormous.
- nomel 1y agoAndroid forms are purposefully...human forms.
- throwmeaway222 1y agoIt is likely worth it - the Tesla robot will be the most advanced consumer grade product ever made. Shocked but not shocked that Apple didn't beat them to it (not shocked because Cook was just using Jobs playbook that only lasted for so long)
- SwellJoe 1y agoThis has to be a bit. You can't possibly believe Musk's fantasies after a couple decades of hilarious (and occasionally dangerous) lies.
- xNeil 1y ago>You can't possibly believe Musk's fantasies after a couple decades of hilarious (and occasionally dangerous) lies. Eh, betting against Musk generally seems to be a losing proposition. Starlink alone would have given me faith in his abilities, what Tesla's done with Models 3 and Y and SpaceX with Falcon 9 gives me all the more reason to believe him. Yes, despite the absurd timelines, which I'm generally okay with. (Not OP)
- freerobby 1y agoPeople never learn. The haters always think this time will be different.
- general1465 1y agoLike 10 years of promises of Full Self Driving which does not drive itself.
- Esophagus4 1y agoI happen to agree with you but for different reasons. I will never bet on Musk, but I’m also not dumb enough to bet against him, given TSLA’s stock growth. The board has set a wild target for him before, and he hit it. It’s too easy to say “he’ll never achieve that!” from the comfort of an armchair internet comment. Ok, if you really believe that, step up to the line and place your bets. Because if you don’t believe it enough to put money on it, you probably don’t believe it that much.
- mullingitover 1y ago> The proposed plan would grant Musk up to 12% of Tesla's stock, worth about $1.03 trillion if the company hits its target market value of $8.6 trillion. The plan requires boosting Tesla's valuation nearly eightfold, or about $7.5 trillion, over the next decade. Obviously no chance in hell that Tesla hits that market cap legitimately just based on the performance of the past four years. However, if the administration succeeds in killing the Fed’s independence and sending inflation to the moon, he might get that payday early! It will in be Zimbabwe dollars, but he will get that trillionaire title (along with many others).
- cluckindan 1y agoWell, now that the US has a War Department, and its Secretary of War Hegseth is publicly stating they are not going to defend but attack, one would assume US troops are going to be doing some pilfering in South America. Again.
- treetalker 1y agoBesides attacking litter and underbrush in the capital?
- testbjjl 1y agoI think he said something along the lines of bringing back the “warrior ethos,” and the US has been losing since Vietnam. I have no idea what he’s talking about, but can’t imagine anyone having voted for this and related policies when they talked about bringing down the price of eggs.
- runsWphotons 1y agoI think whatever the surveys said, the egg prices/inflation actually had little to do with Trump victory and the left shouldn't be misled by this. People vote now for emotional reasons, reasons of identity, and these rational reasons are mostly cover--something you tell a pollster but not the real truth. Take note of anyone you know who gave this reason and see what they say about 6 months of manufacturing decline, slowing job growth, or about the inevitable inflation from tariffs...I bet most defend it in some way. The right is now split into a faction that rejects foreign interventions and wants to withdraw, if not total isolationist then something in that direction, and another faction. At the elite level this other faction is ascendant. The lesson they have drawn from US military failures from Vietnam to GWOT is different from the former faction. In their view the problem is that we were not aggressive enough, we were too constrained by overly legalistic and conservative rules of engagement and various ideological goals which polluted the prosecution of the wars and prevented us from "winning". They DO want a more cruel, more aggressive force posture. They admire and defend Israel in large part because they see it as a model of a force which really believes in "winning". A substantial portion of the voter base is attracted to this, enthused by the prospect of aggressive campaigns in Latin America with relaxed rules of engagement, and sees the renaming to Department of War as a "based" declaration of this doctrine. The country is moving more in this direction and the more isolationist (kind of "Buchananite") wing is getting purged again, but with some concessions made to them. I am not sure the left has any answer to this right now because it has discredited itself with so many, especially losing a lot of younger men (those under 21 heavily favor Republicans), and generally the country may simply be moving in this direction. I think be clear eyed what you are facing.
- dabinat 1y agoWhat makes Tesla better-equipped to deliver on autonomy than other companies? The argument with FSD was that Tesla had cars on the road gathering real-world data and that their solution was cheaper and more scalable (not that either of these actually helped them in the end). What is the argument for robotics?
- deleted 1y ago[deleted]
- addaon 1y ago> What makes Tesla better-equipped to deliver on autonomy than other companies? A willingness to ship at a much lower level of technical readiness and safety, and a reasonable chance of achieving enough regulatory capture to be allowed to do so.
- mrandish 1y agoHopefully this will provide sufficient incentive for Elon to focus more on business and less on social media, politics and culture war distractions.
- mcculley 1y agoWould Musk become a full-time CEO in exchange for this compensation package?
- malfist 1y agoOf course not. He'd lose his diablo 4 ladder rank
- epolanski 1y agoDidn't he lie about how good he was at diablo as well?
- plorkyeran 1y agoHe very obviously paid people to play the game for him, but he is sufficiently CEO-brained that he may actually believing that paying someone to do something means that you did it.
- testbjjl 1y agoDoesn’t he have to grow market cap 8x in 10 years? I can’t imagine how stiff the competition will be over the next decade.
- throwawaylaptop 1y agoIf he gets that robot in every home or office... It won't be THAT hard.
- standardUser 1y agoThey only promise 1 million robots, so no problem! The crazy thing is they're still betting on robocars (10 million subscriptions) despite still not having sold a single fully autonomous ride.
- lemming 1y agoI hear it's happening next year.
- chmod775 1y agoInvestors who bought an expensive hype stock have now realized it's a giant bubble that will burst the moment they start selling their considerable shares. Their only option is to desperately ride on, hoping to stay ahead of the tide until they find some higher ground. Who knows: dangling a giant carrot in front of their mule might help?
- ares623 1y agoYeah this feels like a way to entice current investors into not pulling out. "Look, you'll miss out on trillions if you pull out now! Please, we're so close!"
- toofy 1y agoyep, this is it exactly. “please don’t notice the bubble please don’t notice the bubble please don’t notice the bubble”
- TheAlchemist 1y agoIt's very worrying. Besides the sheer absurdity of it, as it is, it's a mix of valuation milestones and operational ones. But the thing is, that the first operational ones are 'easy' - Tesla is already on track to deliver 20 million vehicles within next 10 years. 10 million FSD subscription, 1 million robots, 1 million robotaxi ? This can all be very easily achieved if you bend the definition a bit. Hey, according to Tesla, they are already running a Robotaxi that is accessible to the public. Nevermind that there is a driver now in the driver's seat and the only thing that is public is an app, that puts you on the waiting list. Given that, the only real issue is the valuation targets - and that folks, that's an open invitation for stock manipulation for the master manipulator himself.
- ChrisArchitect 1y ago[dupe] Earlier: https://news.ycombinator.com/item?id=45137484 https://news.ycombinator.com/item?id=45137484
- archagon 1y agoMeanwhile, Musk can't stop babbling about white nationalism ("remigration") on Twitter: https://bsky.app/profile/harikunzru.bsky.social/post/3lxrqzmfoi22x https://bsky.app/profile/harikunzru.bsky.social/post/3lxrqzm... I have to conclude that members of the board are in full support of this behavior.
- mlindner 1y ago[flagged]
- oxryly1 1y agoSo it’s First Nations nationalism? Odd cause for Elon to support. His heritage isn’t anywhere close to that (a white person in the US is bad enough but a white person from South Africa too?).
- tim333 1y agoThe Musk comment was referring to Epping in the UK and this sort of stuff https://www.bbc.co.uk/news/articles/cde3w04jwjzo https://www.bbc.co.uk/news/articles/cde3w04jwjzo
- mlindner 1y agoElon current status is a legal immigrant. As are many other people who are not white. Remigration has nothing to do with your skin color.
- sidcool 1y agoThe negativity of this ambitious goal in this discussion is worrying. He did achieve all the goals set in the then 2018 lofty goals. He may just do it again. And despite being late, Tesla seems to be delivering slowly on all their promises. It's slow, and often deceptive, but not criminally so.
- jsbisviewtiful 1y agoTesla sales have been plummeting in Europe and the US, recently the US drop was in the double digits. On top of that, the former buyer market for Teslas have started calling them swastikars and slapping “Bought before Elon went crazy” bumper stickers on their Tesla. Resell value for Teslas have tanked. Everyone I talk to is well aware of the drop in Tesla quality and the hidden crash test data. Tesla also just lost a ton of income from the loss of gov subsidies that Must himself helped destroy. The negativity is based in the reality of his “work”. He’s an overpaid hype man that lies about everything and steals the work of others only to crash and burn it - lately through culture war hate mongering and a sad desperation to be liked.