530
Tesla CEO Elon Musk could leave if $56 billion pay package not approved, shareholders warned
(www.theverge.com)
this post was submitted on 07 Jun 2024
530 points (97.5% liked)
News
23634 readers
2598 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Save 56 billions and tell Musk to fuck off? What's the catch?
The catch is that Tesla has a bunch of problems that might cause the company to be in serious trouble soon, and if musk leaves before the company starts tanking then we'll have to hear endless bullshit from people about how musk was so great that he single handedly was what kept the company going.
It's a sacrifice I'm willing to make it that means musk is given a "fuck off" instead of 56 billions.
His other ventures will show he's not the Tony Stark level genius some thought years ago, so it's a temporary problem anyway.
If the company really tanks even after saving 56 billion dollars that they could spend on literally anything else to improve their products, maybe they shouldn’t be a company anymore.
They really never should have been worth more than the rest of the auto industry, that’s for sure.
He’s more like a Phony Stark level “genius”.
Eh, the company is already in severe trouble.
Whilst Elon was playing dumbass with that cyber truck monstrosity that can only be sold in a select few countries because it's so fucking dangerous, Tesla lost the entire headstart it had. It has a very limited set of older models for sale that only really are interesting for people with money. Meanwhile China is here now with loads of cheap EV cars. Then there are fraud investigations that will turn bad as musk has for years been promising lies. See Theranos for an example on how that would work.
I could go on for a long time, but suffice to say, Tesla will be bankrupt within 3 years and so will musk.
That's my exact point. Tesla's house of cards is about to fall and if elon leaves before it happens then idiots will say it crashed because he left, rather than the truth which is that he's the one who put it in that position of an inevitable fall. Though in 3 years i don't think it'll go bankrupt, it'll just be much worse off
Right! Where's the downside?
Without musky boy the Tesla hype would die and hype is the biggest money maker at Tesla. Yep, you're right, pretty much no downsides.
Musk being at the helm is 50% of the reason a lot of people won't even consider buying a Tesla. Boneheaded engineering decisions he dumped on the engineers are the other 50%. Replacing the hype with decent cars would be a win for everybody not named Musk.
Being back lidar.
You get permabanned from that one right wing hellhole social media network, whatever they call it nowadays
Edit: was it 3? No, maybe Y? S? I swear it had something to do with a Tesla model
Oh no, I'll lose all my followers on cybertruck!
I loved your joke and was excited to share it with my wife… who didn’t get it lol
Did you wake her up from laughing so hard? :^)
Is this a reference to something? I swear I saw a comment on Lemmy recently about a dude saying he laughed so hard he woke his wife up
Yes 😅
What’s it a reference to?
That comment about the dude saying he laughed so hard he woke his wife up 😅
I have been so fucking disappointed since I learned their naming scheme for car models. It's so intensely sophomoric.
“Their”? No, it’s literally just Elon forcing his childish sense of humor on the world.
I am the tiniest bit less annoyed since the Y was announced. For a while I thought he literally just thought the word “sex” was funny or something.
He just went from S3X to S3XY. It's the same joke but... well, the same. Models H and O likely to be announced as part of his pay package.
Yeah but people call cars “sexy.” It’s less weird than just spelling out the word “sex” like you’re a 10 year old boy laughing at the word “sex”.
tbh S3XHOY fucks
Honestly. the naming scheme is not a problem for me. What is a problem is that they took away the option to have Tesla cars make fart noises to warn pedestrians that the otherwise quite quiet cars are coming.
When I was using that failed platform Reddit, I got permabanned from a Elon Musk sub because the mods read some anti-Musk comments I made IN OTHER SUBS. Talk about a clusterfuck. Hey hey ho ho, Phony Starck has got to go!!!!
nearly all my bans when I was on reddit were from posts on other subs on reddit. Libertarian banned me for a post in antiwork I think, lol.
The reason he's able to make this ask and not immediately be laughed out of the room is that Tesla's value is massively inflated based largely on the personality cult surrounding Musk himself. If Tesla starts being valued as a car company rather than a speculative tech company with a "genius" leader at the help (quotes doing a lot of work there) , the stock price will be a fraction of what it is now.
That's what shareholders stand to lose, and it's why Musk has any leverage to make this ridiculous ask in the first place.