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this post was submitted on 09 Aug 2024
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72% of stakeholder vote favored giving him a stupid huge bonus, even stupid by rich billionaire standards. This was after TSLA took a hit and their sales were down and their unit prices were way down.
Tesla's all in on Musk. Probably easier to accept as someone who never did like their particular cars and if anything is a bit annoyed that the traditional car companies felt compelled to copy the stupid parts of Tesla when making their EVs. I can see if someone liked Tesla how they could hope to evict Musk... Just not going to happen.
The problem is that Tesla is a meme stock. It's stupidly overpriced for a car company with such little production.
They could get rid of musk and try to turn it into a normal company with solid fundamentals but this would remove its meme status and crash the share price anyway.
There's no way to fix Tesla without burning it's stock price to the ground, so anyone involved is just going to try to ride the crazy train as long as possible.
Come on Elon, make the Cybertruck 2 and really fuck everything up.
Exactly. What I don't understand is how everyone knows this, but somehow the stock is still high. Somehow Elon is singlehandedly keeping the stock up while doing literally nothing to help the company, make it make sense.
No, it’s an AI company now bro. Trust me.
After that vote I will enjoy seeing the shareholders should get exactly what they voted for.
That just means their stakeholders deserve the financial ruin that's coming to them.
That's mostly institutional investors. I suspect it was actually a reward for ruining Twitter.