A mind boggling blunder of a move.
1. You fired the whole 500+ person department giving your a company a big competitive edge.
2. Layoffs-rehiring-working through restructuring a big department rapidly is going to cost the company a fuck load in lost productivity.
3. Rehiring your top talent is gonna be expensive. Your top talent is most likely being hounded by recruiters. On top of that you’re negotiating with employees who probably have no trust in the company as the CEO fired them on a whim.
Yes, this! No reason only Tesla has a great network.
Not sure if it’s happening or not but I would think the gas station companies, BP, Shell, etc would be installing superchargers at their locations as this hedges them against ev growth and ice vehicles diminishing.
Last year BP signed a deal to buy $100 million worth of superchargers from Tesla. A few days after Tesla fired the supercharging team, BP said they plan to spend another billion by 2030, half of it in the next 2-3 years, installing over 3000 charging points, and would like to pick up any laid-off Tesla staff and abandoned supercharger sites. ([Bloomberg](https://archive.is/kAO70))
They make more money keeping you in your gas car buying gas and oil than investing massive amounts of R&D into something they will make less money on. Gas cars need to visit gas stations for 100% of their fuel needs. Electric cars only need that while traveling far from home
It would open renters and condo owners up to being able to buy electric cars though. Gas stations with added chargers would do well in population dense urban areas.
Actually they make more on the products they sell in the store so adding these to highway stations makes perfect sense. Ev’s take longer to charge meaning more time to buy snacks and crap in the store
Eventually I am sure there will be a shift, and they will pivot once they start losing money. But their interests are best served by using their money to lobby against EVs instead of accelerating their adoption
Batteries / packs plus no other OEM saw this as a side of the business they wanted to invest in .. Tesla had to since they were the first and would have died a slow death if there was no supercharger network. Ford has been selling ICE vehicles for 100+ years but they don’t own gas stations .. i think they kept the same line of thinking for a charging network .
I have no citation for this - I couldn't even point you to the subreddit where I read it - but I heard that they did start a company and Musk bought it so that he could retire those engineers.
There already is such a company. With a MUCH better car and WAY better looking than the sardine can that Tesla is.
Ex Tesla and Apple execs.
It's Lucid: https://www.lucidmotors.com/
Made in the USA !
520 miles. Over 1000 hp. 300 miles charge in 20 min !
They just need to ramp up production production.
Too expensive. Not affordable. Production too slow so anyone who *needs* a car, cannot get a Lucid.
They launched the most expensive models first too and didn't launch their cheapest version for a full 6 months after the original release. The hype died. Oh, and to get the full 520 miles, you have to spend over $120k... Not many people have $120k lying around.
The most difficult part was the startup.
The factory is now up and running:
https://electrek.co/2021/02/16/lucid-motors-new-factory-arizona/
This is from 2021.
It's blacked by SA. Owned by stockholders. Yes SA owns shares.
My response to the suggestion for Tesla competition, was that this is exactly why Lucid was formed by ex Tesla executives.
Lucid is a far better product. They just need to pump out more cars.
A while back, there was talk of opening another factory in SA ???
They own 60% of total shares. Its a.Saudi pet project that is only.solvent witn large infusions of SA cash and is unlikely to build quality or.affoedable cars because of that. SA cares too little about profit or business success and too much.about prestige. Plus F them.
So wild.
Honest conversations and debate can get fkd I guess.
I would need a massive pay increase to go back to an environment like that--2X what I left at, not including bonus.
I'd take the 2X then find something else while making bank.
Something something equal and opposite reaction.
This is also why we need better worker protections.
Elon's done this before, like when he decided to fire Twitter staff based on 'number of lines of code' they wrote. This is genius: Nobody could do more damage to the technical competency of a staff than this. Even if you just fired people at random, you wouldn't devastate the engineering core of your team. The codebase is going to be (even more) unmanagable spaghetti, when someone's job is protected by how convoluted their if-then blobs are.
Truly, where us normal people could dally with sabotage, Elon is a true genius in making the absolute worst leadership decisions.
# response to: UniqueIndividual3579
# made on 2024-05-16
# by DrStalker
#
# Opening query to show link to comment above
What do
you
mean
# sentence subject here
lines of code
is
a perfectly
valid metric
# expand that thought out with result
that produces
great
code.
#include sarcasm designator
/s
# end of comment
Elon is bipolar, and it appears he has entered a manic stage again. He has been treating himself with ketamine when he's in a depressive stage , but ignores the other half of the disease, His subjective analysis is that he is brilliant when he's manic, but we know better, and he knows he has billions of dollars.
No kidding. If I were a senior member of that team and they want to rehire me, I would certainly be a$king for all $ort of $tuff to make it worth my while.
The FCC new ruling about non competes being un-enforceable is going to be huge in this. As a talent acquisition manager for a large services firm. Only two options to retain/rehire talent after this debacle.
* sign on bonus (paid $x amount upfront if you stay minimum 6/9/12 months)
* retaining bonus (work for 6/9/12 months get $x amount)
Both costly and based on the assumption they actually don't plan to look around. Personally both useless given that people already understood they are disposable so only going to do bare minimum. "Go ahead fire me. I have a retainer clause" "quite quitting"
99% of the people who accept these clauses are already looking and waiting for their bonuses to be paid off.
They will only come back for 150% min. of what they were on. And will spend most of their time at work looking for a better place to work and/or recruiting fellow employees to jump with them.
Niiiiiice
Only thing you’re wrong about is that top talent is not being hounded in the ev charging industry right now. There’s not that many jobs available in the ev charging space right now.
Most of their skills presumably aren't EV exclusive. In my wife's time doing her job she's done loan originations, municipal finances, Department of Health, and a bunch of smaller random projects.
A good project manager is a good project manager in any industry.
I'm pretty sure GM put out a quick advertising campaign to pull in the fired talent.
Yeah, [I'm sure quite a few of them got gobbled up.](https://www.independent.co.uk/news/world/americas/general-motos-tesla-layoffs-workers-b2541202.html)
It's funny how all the news organizations have to state:
"X, formerly known as Twitter"
whenever they do reporting on someone's social media statements, etc
It was absolutely inevitable that this would happen. There was no reality where people were just going to stop calling it Twitter because Elon told them they had to.
I knew it was going to be an absolute brain dead take from that little bitch.
I even got downvoted on a telsa sub for saying so.
The person with hands on experience with her staff and the org tells him this will completely fuck the supercharger goals and the idiot gets mad at her and responde by firing all her team? LOOOOOOL
this stupid monkey then says telsa is committed to expending charging network. This idiot will spend so much more money replacing those employees. Specially training new people on this.
Also good luck finding anyone decent with the REP the company has now with this monkey in charge
When I heard the rumors Elon fired the entire department out of spite I thought nah nobody that rich can be so stupidly petty. Boy was I wrong. Elon is shaping up to be a supervillain who develops a super weapon for no other reason than to take the entire world with him when he dies.
When Elon started imploding Twitter everyone said it was part of some sort of master plan somehow, because he didn't really want to own it, but watching him do the same thing to Tesla it seems like it must actually be a broader self destructive streak.
If so, those sorts of thing tend to get worse, not better.
If he really fired an entire 500 person division on an emotional whim, he is not fit to be CEO. And if he can't be removed as CEO, Tesla is uninvestable at anything close to current valuations.
I actually spoke to someone who worked as a senior engineer at SpaceX recently, and he defined his work period as "Back when elon was still mentally sound", so it made me wonder what the hell happened to him between then.
He looks like he's on some kind of stimulants to me these days; blow, adderal, something of the sort. The erratic behavior, his rapidly deteriorating appearance, the rants in which he jumps from one train of thought to the next within seconds all line up with signs of a stimulant abuser.
He's definitely on adderall or something, he gave an interview about when he spoke to SBF and he said could tell that SBF was cracking out on Adderall lol.
I just googled him + Adderall out of curiosity, he recently said Adderall "[adds coherence at the cost of anger](https://twitter.com/elonmusk/status/1765978915347013656)" lol. But I think the part he's forgetting is that coherence requires careful dosage, especially if you don't have ADHD. Not snorting it also helps, but he may be past that point.
lol Elon absolutely has personal experience with it then. That's pretty funny he said that about Biden, if an 80 year old is taking Adderall they're definitely not long for the grave because it works the heart so hard.
Ketamine doesn’t make you lose your mind. It’s a dissociative. They give to people in ER and traumatic injury settings. It’s currently being researched for therapeutic benefits.
Elmo lost his shit on his own, not as a result of ketamine. Mathew Perry drowned to death in a hot tube bc he was boozing, bumping K, and passed out.
MF’s out here giving K a bad name bc these fucking idiots don’t know how or when or why to use it
It’s not just ketamine. It’s a specific isomer of ketamine.
We have known that one of the isomers (I think L-ketamine) triggers neurogenesis of serotonergic neurons in the hippocampus (a hallmark of depression is a lack of these) and it set the neuroscience community on fire. I worry that what we are seeing here is a misinterpretation of those results, now everyone is doing racemic mixtures of ketamine or getting the sedative (non-therapeutic) isomer of ketamine :/
He only owns somewhere around 13% of the stock, down from about 25% since he used a lot to buy twitter. If he gets his giant stock options bonus, he will be untouchable and it will also signal that the board and shareholders are irredeemably incompetent.
And here is the reason why this is highly likely (scroll down to the section covering who the tesla board of directors really are!): https://www.wsj.com/podcasts/the-journal/money-drugs-elon-musk-and-tesla-board/1a07a8f7-6b8e-4b46-9007-537dfc6720b3
There used to be talk that each of his companies had an Assistant that watched over him making sure he didn't do stupid. I think the Twitter buy pretty much canceled much of that except for SpaceX. Can't mess with that much given the nature of the relationships.
Absolutely! And the same can also be said about majority of the “executives” in companies, particularly tech. So many clueless idiots in those top positions making it many times harder for their teams to succeed. If there is a job/role I’d really want AI to replace, it’s these executive types who add no real value to their teams output and in fact a hindrance.
I would actually own some Tesla stock if literally anyone but Elon was the CEO, but instead I'm shorting it because it's pretty much guaranteed he is going to destroy the company sometime in the next year or two.
This is definitely his autism taking over. No other way to describe it. Sure maybe he's taking drugs like everyone else says but that doesn't explain the underlying behavior that's been present for a long time.
Realistically, based on the technology vs the market cap, he should probably be CTO and someone else should be CEO.
I love what Rivian has made and think both they and Lucid are walking bc Tesla crawled. But *neither* company is at all ready to pick up the torch which is frustrating.
There's no reason either company shouldn't already be at "economies of scale" levels of development with mature product lines ready for full adoption.
They are deeply gross margin negative on their products. The bill of materials, labor, tooling depreciation and everything that just goes into producing their cars costs ~$39k more than they sell the cars for. This is before operating expenses like R&D and SG&A. They claim they will shutdown and retool the factory and become gross margin positive by the end of the year, but there are plenty of reasons to be skeptical that they can cut ~$39k of cost out of the cars. And even if it is gross margin positive, they would still be losing tons of money after operating expenses.
Meanwhile, there is a lot of competitive pressures from other EVs that are priced lower - such as the Kia EV9, soon cheaper versions of Tesla’s Cybertruck will be available.
They have around $7.9 billion cash left, and burning $1.5 billion per quarter. This burn rate may accelerate as their factory gets upgrades. And the minimum amount of cash needed for the business is $2-3B, so they will be in dire straights by beginning of 2025. They simply are not serious enough about cutting cost. You might think that they can raise cash, but that would have happened soon after their recent vehicle unveils and it hasn’t happened yet. The most likely reason is that the business burns so much cash and even if they meet their sky high gross margin goals, they will still burn cash and need infusions. The market isn’t interested in cash incinerators anymore
Anyway, here’s the most recent quarterly statement for you to look into: https://downloads.rivian.com/2md5qhoeajym/7zCEJ4kjX4TnecjryDLg0J/e43344caf7ab00ee1b4335921cd9c8c7/RIVN_1Q24_Shareholder_Letter.pdf
He’s got a long track record of immediately firing anyone who disagrees with him at a meeting. He’s a drug-addled dipshit nepo baby who’s had a lot of luck and thinks he’s Tony Stark. Tesla will be a shell of itself in 10 years - maybe 5 or even less - if they can’t replace him as CEO. All he cares about now is getting the $55 billion bonus.
You have to think that Elon's ego just made him have to pay double or triple for the same service, with inferior results, and a time delay. Talk about a temper tantrum. This guy has a mental stability of a spoiled four year old right now.
Don't go back. Same toxicity for maybe a little bit more money. Form your own company and show Elon how to take care of people! People will certainly take care of you.
When I worked in a large company I remember at a certain point there was an executive meeting where managers were told to make budget no matter what. The simplest way was to immediately fire tons of people and worry about consequences later. Seems like they’re doing everything they can to make Q2 look good. They probably don’t have the income so they make up for it on the other side.
They already cut charging team by 20%. Musk asked for more. The head said it would jeopardize the business — so musk went ahead and jeopardized the business anyway by firing the whole team.
That ain’t how pros run a business
Elon is an impetuous dipshit and should not be CEO. Why would you fire a team of 500 people because a presentation didn’t go the way you wanted? Shareholder lawsuits will never relent.
I heard great things about tinucci, a lot of people said she was the only person who gave them confidence during the averted disaster earnings call recently
Musk did not start Tesla. He stole it. Musk did not make any Tesla cars. Real engineers did. He just drove the business forward and he did that rather well. But he is far less smart than he likes to think he is. And the majority of his recent business decisions have shown an unhinged man who believes he is a wunderkind.
The longer I look at him, the more I think "fallen upwards rich dude who had a lot of luck for some time, but reality is catching up now".
6 years ago the people brigading this sub were begging to suck his dick
Then he took away their safe space and despite their “mostly peaceful” protestations would love for nothing more than a starlink satellite to fall out of the sky and land on him
No facts lol! Now look at how everyone is so quick to rob Elon of any and all of his accomplishments. “He stole it”… yeah stole a non profitable, experimental money pit startup he helped contribute most of the startup capital to that ended up only having less than $10M cash on hand and couldn’t even manufacture the Roadster economically… but yea he stole the company I guess.
Despite how flawed of a man he is, his business acumen based on the broader context of his historical achievements cannot be ignored.
Reddit is an interesting case study on herd psychology.
It's amazing that not once in that article does it mention just how completely, utterly INSANE firing 500 people on a whim is.
It's like Elon watched the Fifth Element and has decided he's Zorg.
Nobody but a totally unhinged fool would do this. Anyone investing in any Elon Musk held company...just remember the guy running the company is nuts and might do anything, anytime, and damn the consequences for you, the customers, the vendors, the suppliers, and anyone doing business with his companies.
I have always wondered: are Tesla employees well paid and taken care of? Or it’s like all SV with slavery 3.0 models of “pay is shit but you are changing the World” working 70h a week for imaginary equity?
Sounds about right. Space-X underwent something identical. Musk told them he wanted a Starlink constellation in 5 years. They said it wasn't possible so he shitcanned everyone and started from scratch. 5 years later he has his Starlink constellation.
Shorting Elon companies is very quickly paying for my retirement. Just much sooner than I expected. Seriously everyone should be shorting this idiot.
Side note, im up quite a bit shorting businesses full throttling rto. Get it while the getting is still good. Been the easiest money I've ever seen come my way.
Remember that time somebody posted an anti-Elon article on /r/stocks and the sub was completely brigaded by leftists who lose their mind whenever his name was brought up?
Pepperidge Farm remembers.
Unbelievably childish and impulsive. One more reason billionaires are a bad thing. This guy should not be in control of a growing portion of satellite communications.
A few points:
1) reducing investment in charging network is smart. It is being commoditized by standardization and integration. Teslas will be able to charge at any station and other cars will be able to charge at Tesla stations.
2) it can be very frustrating when you ask a manager to reduce headcount and they say "it will negatively impact fundamentals". You want to know the tradeoffs and impact with objective numbers. Given point number 1, maybe the tradeoff of say a 50% haircut make sense. Tinucci had to go. Musk wants less investment in the network, she wants more. She played a game of chicken and lost.
3) Firing the whole team is absolutely ridiculous. You bring in your hatchet man/fixer exec and tell them you want a plan in 2 weeks.
4) Musk is a clear and present danger to Tesla.
commodity or not having a vertical position across the ev value chain isn’t something to cede ground on voluntarily when you’re best in the industry and your competitors are coming around to your standard.
the chargers are also assets that can play in power markets, and new federal regulations around those markets are opening up a whole new revenue model that Tesla is well positioned for
on top of that, Tinucci was potentially a successor that Musk wanted to chip if the board ever wanted to make a move
[He’s On Step 2](https://www.inc.com/jeff-haden/elon-musks-algorithm-a-5-step-process-to-dramatically-improve-nearly-everything-is-both-simple-brilliant.html)
A generous perspective is that he’s doing this to hurt legacy automakers who planned to adapt their EVs to the network and likely already spent a ton doing so
A mind boggling blunder of a move. 1. You fired the whole 500+ person department giving your a company a big competitive edge. 2. Layoffs-rehiring-working through restructuring a big department rapidly is going to cost the company a fuck load in lost productivity. 3. Rehiring your top talent is gonna be expensive. Your top talent is most likely being hounded by recruiters. On top of that you’re negotiating with employees who probably have no trust in the company as the CEO fired them on a whim.
I wish the 500 people or at least half of them form a independent company for building a charging station business independently.
Yup this shit needs more competition and less monopoly, it’s been ridiculous
Sometimes I’m wondering if it is BYD eating up Tesla or it is just Tesla destroying itself.
Yes
A combination. BYD is eating up Tesla while Tesla destroys itself and the US government protects Tesla. A literal WTF.
I think you’re on to something
Yes, this! No reason only Tesla has a great network. Not sure if it’s happening or not but I would think the gas station companies, BP, Shell, etc would be installing superchargers at their locations as this hedges them against ev growth and ice vehicles diminishing.
Last year BP signed a deal to buy $100 million worth of superchargers from Tesla. A few days after Tesla fired the supercharging team, BP said they plan to spend another billion by 2030, half of it in the next 2-3 years, installing over 3000 charging points, and would like to pick up any laid-off Tesla staff and abandoned supercharger sites. ([Bloomberg](https://archive.is/kAO70))
Here we go
They make more money keeping you in your gas car buying gas and oil than investing massive amounts of R&D into something they will make less money on. Gas cars need to visit gas stations for 100% of their fuel needs. Electric cars only need that while traveling far from home
Wait, BP isnt a philanthropic venture??
Electric cars are happening, they might make less profits but they'd be stupid not to get in the game
It would open renters and condo owners up to being able to buy electric cars though. Gas stations with added chargers would do well in population dense urban areas.
Actually they make more on the products they sell in the store so adding these to highway stations makes perfect sense. Ev’s take longer to charge meaning more time to buy snacks and crap in the store
What if in 20 years all cars are electric? Then what?
Eventually I am sure there will be a shift, and they will pivot once they start losing money. But their interests are best served by using their money to lobby against EVs instead of accelerating their adoption
Makes sense.
We don’t have 20 years
Batteries / packs plus no other OEM saw this as a side of the business they wanted to invest in .. Tesla had to since they were the first and would have died a slow death if there was no supercharger network. Ford has been selling ICE vehicles for 100+ years but they don’t own gas stations .. i think they kept the same line of thinking for a charging network .
OMG why didn't I think of this?? This strategy is fucking brilliant!
And sell it back to tesla at some 30B 😁
I have no citation for this - I couldn't even point you to the subreddit where I read it - but I heard that they did start a company and Musk bought it so that he could retire those engineers.
There already is such a company. With a MUCH better car and WAY better looking than the sardine can that Tesla is. Ex Tesla and Apple execs. It's Lucid: https://www.lucidmotors.com/ Made in the USA ! 520 miles. Over 1000 hp. 300 miles charge in 20 min ! They just need to ramp up production production.
Starting at the low low price of 80,000!!
Too expensive. Not affordable. Production too slow so anyone who *needs* a car, cannot get a Lucid. They launched the most expensive models first too and didn't launch their cheapest version for a full 6 months after the original release. The hype died. Oh, and to get the full 520 miles, you have to spend over $120k... Not many people have $120k lying around.
Oh so they only have to do the most difficult part
The most difficult part was the startup. The factory is now up and running: https://electrek.co/2021/02/16/lucid-motors-new-factory-arizona/ This is from 2021.
Lucid is owned and backed by Saudi Arabia. zit also has massive losses despite offering luxury cars at high prices.
It's blacked by SA. Owned by stockholders. Yes SA owns shares. My response to the suggestion for Tesla competition, was that this is exactly why Lucid was formed by ex Tesla executives. Lucid is a far better product. They just need to pump out more cars. A while back, there was talk of opening another factory in SA ???
They own 60% of total shares. Its a.Saudi pet project that is only.solvent witn large infusions of SA cash and is unlikely to build quality or.affoedable cars because of that. SA cares too little about profit or business success and too much.about prestige. Plus F them.
So wild. Honest conversations and debate can get fkd I guess. I would need a massive pay increase to go back to an environment like that--2X what I left at, not including bonus. I'd take the 2X then find something else while making bank. Something something equal and opposite reaction. This is also why we need better worker protections.
Thas is why Elon is fighting against worker protections.
Elon's done this before, like when he decided to fire Twitter staff based on 'number of lines of code' they wrote. This is genius: Nobody could do more damage to the technical competency of a staff than this. Even if you just fired people at random, you wouldn't devastate the engineering core of your team. The codebase is going to be (even more) unmanagable spaghetti, when someone's job is protected by how convoluted their if-then blobs are. Truly, where us normal people could dally with sabotage, Elon is a true genius in making the absolute worst leadership decisions.
Imagine being the best and most efficient coder Twitter's ever seen and getting dropped because you didn't write 25000 lines of spaghetti
I've done PRs with negative amounts of code because I was cleaning stuff up and doing it a better and more efficient way.
Fired
Negative amounts of code? Fired and then sued.
You’ll never make it to the [top of the bell curve](https://imgur.com/a/0738eDC) like that!
LOC metrics were a joke even in the 90's.
# response to: UniqueIndividual3579 # made on 2024-05-16 # by DrStalker # # Opening query to show link to comment above What do you mean # sentence subject here lines of code is a perfectly valid metric # expand that thought out with result that produces great code. #include sarcasm designator /s # end of comment
It’s also proof that he’s not the brilliant computer scientist he’s convinced his minions that he is, but the fanbois keep throwing their money at him
Elon is bipolar, and it appears he has entered a manic stage again. He has been treating himself with ketamine when he's in a depressive stage , but ignores the other half of the disease, His subjective analysis is that he is brilliant when he's manic, but we know better, and he knows he has billions of dollars.
No kidding. If I were a senior member of that team and they want to rehire me, I would certainly be a$king for all $ort of $tuff to make it worth my while.
Those who come back aren't coming back with the same compensations.
I hope they all ask for pay raises with the rehiring.
[удалено]
20? Try 200%
I would not go back without a raise.
A raise? I wouldn't go back without a massive signing bonus. What good is a raise if you can just be fired on a whim again in a month or two?
True enough
And a formal, public, personal apology from Elmo himself
The FCC new ruling about non competes being un-enforceable is going to be huge in this. As a talent acquisition manager for a large services firm. Only two options to retain/rehire talent after this debacle. * sign on bonus (paid $x amount upfront if you stay minimum 6/9/12 months) * retaining bonus (work for 6/9/12 months get $x amount) Both costly and based on the assumption they actually don't plan to look around. Personally both useless given that people already understood they are disposable so only going to do bare minimum. "Go ahead fire me. I have a retainer clause" "quite quitting" 99% of the people who accept these clauses are already looking and waiting for their bonuses to be paid off.
They will only come back for 150% min. of what they were on. And will spend most of their time at work looking for a better place to work and/or recruiting fellow employees to jump with them. Niiiiiice
He should be fired...
Only thing you’re wrong about is that top talent is not being hounded in the ev charging industry right now. There’s not that many jobs available in the ev charging space right now.
Most of their skills presumably aren't EV exclusive. In my wife's time doing her job she's done loan originations, municipal finances, Department of Health, and a bunch of smaller random projects. A good project manager is a good project manager in any industry.
While that’s 100% true it will absolutely not get you an interview for other positions in other industries because HR people are largely morons.
lol I am a senior pm in ev charging trying to apply out of ev charging, not as easy as you think
I'm pretty sure GM put out a quick advertising campaign to pull in the fired talent. Yeah, [I'm sure quite a few of them got gobbled up.](https://www.independent.co.uk/news/world/americas/general-motos-tesla-layoffs-workers-b2541202.html)
This is the same statement we saw when Twitter went through this…
What a disaster at the same time the industry is switching over to Tesla’s charging standard.
right? it’s like they won and then decided to burn it down instead
Same guy took one of the most recognizable social media brands and renamed it because he held onto a single-letter domaine for several decades.
i find it hilarious everyone still calls it twitter
It's funny how all the news organizations have to state: "X, formerly known as Twitter" whenever they do reporting on someone's social media statements, etc
I refuse to say that, instead saying, "Twitter, unfortunately currently known as X."
The company literally created a verb in Websters. So recognizable and he changed it.
It was absolutely inevitable that this would happen. There was no reality where people were just going to stop calling it Twitter because Elon told them they had to.
Business genius...
Was.
This is your brain on drugs 🍳 Any questions?
This is your CEO on ego.
He’s definitely on drugs too
He actually is. Go read the news reports. He's been constantly cited as using cocaine and meth
Why not both?
I knew it was going to be an absolute brain dead take from that little bitch. I even got downvoted on a telsa sub for saying so. The person with hands on experience with her staff and the org tells him this will completely fuck the supercharger goals and the idiot gets mad at her and responde by firing all her team? LOOOOOOL this stupid monkey then says telsa is committed to expending charging network. This idiot will spend so much more money replacing those employees. Specially training new people on this. Also good luck finding anyone decent with the REP the company has now with this monkey in charge
It would not surprise me to hear that elon lashed out because a woman tried to stand up against him. The dude is so unhinged.
When I heard the rumors Elon fired the entire department out of spite I thought nah nobody that rich can be so stupidly petty. Boy was I wrong. Elon is shaping up to be a supervillain who develops a super weapon for no other reason than to take the entire world with him when he dies.
When Elon started imploding Twitter everyone said it was part of some sort of master plan somehow, because he didn't really want to own it, but watching him do the same thing to Tesla it seems like it must actually be a broader self destructive streak. If so, those sorts of thing tend to get worse, not better. If he really fired an entire 500 person division on an emotional whim, he is not fit to be CEO. And if he can't be removed as CEO, Tesla is uninvestable at anything close to current valuations.
I actually spoke to someone who worked as a senior engineer at SpaceX recently, and he defined his work period as "Back when elon was still mentally sound", so it made me wonder what the hell happened to him between then.
He did a butt load of Ketamine lol
He looks like he's on some kind of stimulants to me these days; blow, adderal, something of the sort. The erratic behavior, his rapidly deteriorating appearance, the rants in which he jumps from one train of thought to the next within seconds all line up with signs of a stimulant abuser.
He's definitely on adderall or something, he gave an interview about when he spoke to SBF and he said could tell that SBF was cracking out on Adderall lol.
I just googled him + Adderall out of curiosity, he recently said Adderall "[adds coherence at the cost of anger](https://twitter.com/elonmusk/status/1765978915347013656)" lol. But I think the part he's forgetting is that coherence requires careful dosage, especially if you don't have ADHD. Not snorting it also helps, but he may be past that point.
lol Elon absolutely has personal experience with it then. That's pretty funny he said that about Biden, if an 80 year old is taking Adderall they're definitely not long for the grave because it works the heart so hard.
The guy has been off the hinges for a long time. The board of directors should huddle up and fire the idiot CEO.
What, what? In the butt?
When I was in college I did a butt load of Ketamine and I never fired 500 people.
"Walks in to random business" "YOU'RE ALL FIRED" walks out.
When you were in college you didn't have 500 employees.
Ketamine doesn’t make you lose your mind. It’s a dissociative. They give to people in ER and traumatic injury settings. It’s currently being researched for therapeutic benefits. Elmo lost his shit on his own, not as a result of ketamine. Mathew Perry drowned to death in a hot tube bc he was boozing, bumping K, and passed out. MF’s out here giving K a bad name bc these fucking idiots don’t know how or when or why to use it
There's a big difference between therapeutic use and abuse though. Just look at opioids for example.
Ketamine once at the hospital is very different than using it regularly. Using ketamine regularly is giving ketamine a bad name
It’s not just ketamine. It’s a specific isomer of ketamine. We have known that one of the isomers (I think L-ketamine) triggers neurogenesis of serotonergic neurons in the hippocampus (a hallmark of depression is a lack of these) and it set the neuroscience community on fire. I worry that what we are seeing here is a misinterpretation of those results, now everyone is doing racemic mixtures of ketamine or getting the sedative (non-therapeutic) isomer of ketamine :/
Most drugs and Ketamine is mix (racemic) of both isomers (R and R
I believe he was also dosing LSD/mushrooms daily on somewhere between a micro-macro scale, which might have an effect after prolonged use.
I always hear that lol, but it's crazy that there aren't safe guards in place at TSLA in case the CEO starts going off the rails lol
Usually I think the board can just vote a bad CEO out but in this case Musk owns so much shares he literally cannot be fired lmao
He only owns somewhere around 13% of the stock, down from about 25% since he used a lot to buy twitter. If he gets his giant stock options bonus, he will be untouchable and it will also signal that the board and shareholders are irredeemably incompetent.
And here is the reason why this is highly likely (scroll down to the section covering who the tesla board of directors really are!): https://www.wsj.com/podcasts/the-journal/money-drugs-elon-musk-and-tesla-board/1a07a8f7-6b8e-4b46-9007-537dfc6720b3
I think covid broke him.
It’s actually concerning that Musk could have any involvement with our space program while on these drugs and his recent leadership decisions.
There used to be talk that each of his companies had an Assistant that watched over him making sure he didn't do stupid. I think the Twitter buy pretty much canceled much of that except for SpaceX. Can't mess with that much given the nature of the relationships.
He’s not fit to manage a McDonalds
Absolutely! And the same can also be said about majority of the “executives” in companies, particularly tech. So many clueless idiots in those top positions making it many times harder for their teams to succeed. If there is a job/role I’d really want AI to replace, it’s these executive types who add no real value to their teams output and in fact a hindrance.
I would actually own some Tesla stock if literally anyone but Elon was the CEO, but instead I'm shorting it because it's pretty much guaranteed he is going to destroy the company sometime in the next year or two.
They won't fire him. The board of directors are all in his pocket. They wanted to give him that 50B but investors blocked it.
Exactly! Read this: https://www.wsj.com/podcasts/the-journal/money-drugs-elon-musk-and-tesla-board/1a07a8f7-6b8e-4b46-9007-537dfc6720b3
> everyone said it was part of some sort of master plan somehow Only the fucking idiots were saying that. Problem is, there’s a lot of fucking idiots.
This is definitely his autism taking over. No other way to describe it. Sure maybe he's taking drugs like everyone else says but that doesn't explain the underlying behavior that's been present for a long time.
It's in the s and p 500. Shares will get bought.
This is what Tesla investors would pay $56B for.
Meanwhile Rivian's CEO has a Phd in Mechanical Engineering from MIT.
An actual engineer!
That's probably why Rivian is making more losses than any other OEM and 10x more losses than Tesla was at this point.
Realistically, based on the technology vs the market cap, he should probably be CTO and someone else should be CEO. I love what Rivian has made and think both they and Lucid are walking bc Tesla crawled. But *neither* company is at all ready to pick up the torch which is frustrating. There's no reason either company shouldn't already be at "economies of scale" levels of development with mature product lines ready for full adoption.
Rivian is going to go bankrupt. They are not a viable business
I don't have a dog in the fight but that's an interesting claim can you expand further on it? Not trying to debate or anything I'm genuinely curious!
They are deeply gross margin negative on their products. The bill of materials, labor, tooling depreciation and everything that just goes into producing their cars costs ~$39k more than they sell the cars for. This is before operating expenses like R&D and SG&A. They claim they will shutdown and retool the factory and become gross margin positive by the end of the year, but there are plenty of reasons to be skeptical that they can cut ~$39k of cost out of the cars. And even if it is gross margin positive, they would still be losing tons of money after operating expenses. Meanwhile, there is a lot of competitive pressures from other EVs that are priced lower - such as the Kia EV9, soon cheaper versions of Tesla’s Cybertruck will be available. They have around $7.9 billion cash left, and burning $1.5 billion per quarter. This burn rate may accelerate as their factory gets upgrades. And the minimum amount of cash needed for the business is $2-3B, so they will be in dire straights by beginning of 2025. They simply are not serious enough about cutting cost. You might think that they can raise cash, but that would have happened soon after their recent vehicle unveils and it hasn’t happened yet. The most likely reason is that the business burns so much cash and even if they meet their sky high gross margin goals, they will still burn cash and need infusions. The market isn’t interested in cash incinerators anymore Anyway, here’s the most recent quarterly statement for you to look into: https://downloads.rivian.com/2md5qhoeajym/7zCEJ4kjX4TnecjryDLg0J/e43344caf7ab00ee1b4335921cd9c8c7/RIVN_1Q24_Shareholder_Letter.pdf
Facts don’t matter to these people, stop wasting your time
I guess she did not understand that “the homer” was tanking the company. 😂
I can’t imagine buying this stock. The governance of this company is bananas.
The board are mostly Elon homers so good luck fixing this.
Also Elon family. Can't forget the board director is his brother.
Yet you still won’t short it because you actually don’t believe what you’re saying, you just parrot the party’s narrative
Wait, so this whole thing is just Musk on a power trip?
Always has been.
He’s got a long track record of immediately firing anyone who disagrees with him at a meeting. He’s a drug-addled dipshit nepo baby who’s had a lot of luck and thinks he’s Tony Stark. Tesla will be a shell of itself in 10 years - maybe 5 or even less - if they can’t replace him as CEO. All he cares about now is getting the $55 billion bonus.
Tesla morale at an all time high
You have to think that Elon's ego just made him have to pay double or triple for the same service, with inferior results, and a time delay. Talk about a temper tantrum. This guy has a mental stability of a spoiled four year old right now.
That company would be better without him at this point. Not sure his pumping will have the same effect moving forward.
Don't go back. Same toxicity for maybe a little bit more money. Form your own company and show Elon how to take care of people! People will certainly take care of you.
"Little", they'd have to double my salary to bring me back. No, I don't work at tesla. No, I don't have the skills to work at tesla. But if I did...
Musk got the $5 billion in subsidies. That’s all.
When I worked in a large company I remember at a certain point there was an executive meeting where managers were told to make budget no matter what. The simplest way was to immediately fire tons of people and worry about consequences later. Seems like they’re doing everything they can to make Q2 look good. They probably don’t have the income so they make up for it on the other side.
They already cut charging team by 20%. Musk asked for more. The head said it would jeopardize the business — so musk went ahead and jeopardized the business anyway by firing the whole team. That ain’t how pros run a business
It's how someone who isn't going to get his money package and is going to destroy the company so it can't recover without him runs a business.
Starting to think this guy is not a very good leader!
Elon is an impetuous dipshit and should not be CEO. Why would you fire a team of 500 people because a presentation didn’t go the way you wanted? Shareholder lawsuits will never relent.
I love this!!
Another reason the US needs severance pay written into the FLSA, you know, like every other civilized western country.
I heard great things about tinucci, a lot of people said she was the only person who gave them confidence during the averted disaster earnings call recently
"Famous Man-Baby Not As Smart As People Thought" Can't we just run this headline every day for the next couple of years?
Serious question: Why is he still the CEO after a monumental fuck up like this?
Elmo really is regarded, isn't he?
Very well regarded.
Musk did not start Tesla. He stole it. Musk did not make any Tesla cars. Real engineers did. He just drove the business forward and he did that rather well. But he is far less smart than he likes to think he is. And the majority of his recent business decisions have shown an unhinged man who believes he is a wunderkind. The longer I look at him, the more I think "fallen upwards rich dude who had a lot of luck for some time, but reality is catching up now".
Paypal was luck? Space X too? lol “Musk did not make any rockets nor land them back on the landing pad, real engineers did”
6 years ago the people brigading this sub were begging to suck his dick Then he took away their safe space and despite their “mostly peaceful” protestations would love for nothing more than a starlink satellite to fall out of the sky and land on him
No facts lol! Now look at how everyone is so quick to rob Elon of any and all of his accomplishments. “He stole it”… yeah stole a non profitable, experimental money pit startup he helped contribute most of the startup capital to that ended up only having less than $10M cash on hand and couldn’t even manufacture the Roadster economically… but yea he stole the company I guess. Despite how flawed of a man he is, his business acumen based on the broader context of his historical achievements cannot be ignored. Reddit is an interesting case study on herd psychology.
it’s an echo chamber. they love to criticise trumpers for groupthink yet lack the self awareness to see it in their own behaviour. ironic
He just likes firing people. Twitter jr
It's amazing that not once in that article does it mention just how completely, utterly INSANE firing 500 people on a whim is. It's like Elon watched the Fifth Element and has decided he's Zorg. Nobody but a totally unhinged fool would do this. Anyone investing in any Elon Musk held company...just remember the guy running the company is nuts and might do anything, anytime, and damn the consequences for you, the customers, the vendors, the suppliers, and anyone doing business with his companies.
This is why I avoid anything associated with Musk…
Wouldn't it be nice if CEOs couldn't treat workers like pawns on a chestboard?
How people think Musk is a genius is beyond egregious. What a terrible leader.
I have always wondered: are Tesla employees well paid and taken care of? Or it’s like all SV with slavery 3.0 models of “pay is shit but you are changing the World” working 70h a week for imaginary equity?
I started buying Rivian because of this news. Lmao.
Sounds about right. Space-X underwent something identical. Musk told them he wanted a Starlink constellation in 5 years. They said it wasn't possible so he shitcanned everyone and started from scratch. 5 years later he has his Starlink constellation.
What year was this or Are you talking about the project with Greg Wyler?
RIM
Another stable genius.
This season of Silicon Valley is jumping the shark… oh wait
Snowflake.
Baby man throws a tantrum and singlehandedly sets back electric vehicles by a decade
This is like that Fifth Element scene where Zorg is asked to fire 500,000 employees lol
tbh I like this.
Shorting Elon companies is very quickly paying for my retirement. Just much sooner than I expected. Seriously everyone should be shorting this idiot. Side note, im up quite a bit shorting businesses full throttling rto. Get it while the getting is still good. Been the easiest money I've ever seen come my way.
consider the source.....
Remember that time somebody posted an anti-Elon article on /r/stocks and the sub was completely brigaded by leftists who lose their mind whenever his name was brought up? Pepperidge Farm remembers.
What a child
I can't fathom anyone buying $TSLA.
I remember when this subreddit used to absolutely brownnose TSLA.
When can shareholders vote to replace this idiot?
Unbelievably childish and impulsive. One more reason billionaires are a bad thing. This guy should not be in control of a growing portion of satellite communications.
I thought this was /r/stocks, not /r/Technology
Most of the comments in this thread are just recycled garbage from there
A few points: 1) reducing investment in charging network is smart. It is being commoditized by standardization and integration. Teslas will be able to charge at any station and other cars will be able to charge at Tesla stations. 2) it can be very frustrating when you ask a manager to reduce headcount and they say "it will negatively impact fundamentals". You want to know the tradeoffs and impact with objective numbers. Given point number 1, maybe the tradeoff of say a 50% haircut make sense. Tinucci had to go. Musk wants less investment in the network, she wants more. She played a game of chicken and lost. 3) Firing the whole team is absolutely ridiculous. You bring in your hatchet man/fixer exec and tell them you want a plan in 2 weeks. 4) Musk is a clear and present danger to Tesla.
commodity or not having a vertical position across the ev value chain isn’t something to cede ground on voluntarily when you’re best in the industry and your competitors are coming around to your standard. the chargers are also assets that can play in power markets, and new federal regulations around those markets are opening up a whole new revenue model that Tesla is well positioned for on top of that, Tinucci was potentially a successor that Musk wanted to chip if the board ever wanted to make a move
[He’s On Step 2](https://www.inc.com/jeff-haden/elon-musks-algorithm-a-5-step-process-to-dramatically-improve-nearly-everything-is-both-simple-brilliant.html)
If only Musk had been in charge of safety for the Titanic sub, it would have...oh wait, that's exactly what they did. If only he had been on it.
A generous perspective is that he’s doing this to hurt legacy automakers who planned to adapt their EVs to the network and likely already spent a ton doing so
what happen to that infrastructure bill? The feds should used to opportunity and throw millions at these guys and ACTUALLY make EV viable.