I find it hilarious how upset the C-Suite twittershpere was about "over employment," but Musk simultaneously having 4-5 CEO jobs is totally fine and should not be questioned.
You think having 2 jobs known publicly is the same as working 2 full time jobs in secret and signing legal paperwork at both that they are your only job while working 20 or leS hours at each?
No, it is not the same, but it is quite analogous. The commonality is that obviously you cannot give your job your all, when you have more than one job. It's not like I am defending over employment.
One point of clarification is that you mentioned "2," while Musk is currently the CEO of the following 5 companies: X Corp, Space X, Tesla, Neuralink, and The Boring Company.
> while Musk is currently the CEO of the following 5 companies: X Corp, Space X, Tesla, Neuralink, and The Boring Company.
Twitter X Corp and Xai are different companies,right?
I assume he's the CEO.
It’s not the same, but a person who is the CEO of at least 5 different companies has a lot more leeway to completely mess up those companies than the average grunt worker quietly doing the overemployment thing at two different companies.
Elon is now alleged to have engaged in insider trading (selling off a bunch of his shares), only to turn around two years later and extort the shareholders by stopping non-auto initiatives at Tesla unless they grant him more shares (among other demands in the voting)
TFA,
“But emails written by Nvidia senior staff and widely shared inside the company suggest that Musk presented an exaggerated picture of Tesla’s procurement to shareholders.”
That’s a mighty accusation with substantial legal ramifications.
Tesla has already concentrated it's shareholders into an extract that consists entirely of people who crave fantastical promises and don't care much for the reality on the ground.
Any shareholder (even with only a single share) can kick off a suit based on breach of fiduciary duty, such as what happened with the single investor who took issue with Elon's pay package in Delaware's Chancery court. The accountability model is proven.
This is not the same because Tesla is a public company. It is more like saying a chocolatier owns the main shop with someone else, and then diverts the chocolate to a second shop that only they own.
You are actively hurting your partner by doing this. Elon has a duty as an officer of Tesla to help it perform well. Diverting or delaying company resources for the benefit of his own, private company is not good.
He sees the $45B slipping away, and he will take out his frustrations on Tesla. "Let that sink in." In a way, this makes life easier for his successor who might otherwise be blamed for the stock returning to a normal valuation for a competent EV maker.
It seems like a very straightforward, reasonable prediction on this story is that he's preferencing the companies he thinks he has a future with away from a company he might soon leave and if that's the case, I'm long on popcorn.
By now it has to be clear he is a genius at playing 4D hungry hungry hippos. If there is some investor money or government subsidy to be had he will say and do anything to get it. If it's not there he loses interest
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[ 4.3 ms ] story [ 80.6 ms ] threadHe's a part-time CEO at best. Employees call him a pigeon CEO because "he comes in, shits all over us, and then leaves": https://electrek.co/2024/04/22/elon-musk-pigeon-ceo-former-t...
Lying to shareholders and diverting shipments of equipment to benefit his other companies does Tesla no good at all.
No, it is not the same, but it is quite analogous. The commonality is that obviously you cannot give your job your all, when you have more than one job. It's not like I am defending over employment.
One point of clarification is that you mentioned "2," while Musk is currently the CEO of the following 5 companies: X Corp, Space X, Tesla, Neuralink, and The Boring Company.
so that's 6 companies
Now do the Count voice from Sesame Street as you count them up.
That’s a mighty accusation with substantial legal ramifications.
https://nypost.com/2024/02/01/business/the-heavy-metal-drumm...
https://old.reddit.com/r/teslamotors/comments/1d7xd7v/elon_m...
https://old.reddit.com/r/teslainvestorsclub/comments/1d7xc3n...
Chocolate manufacturer:
Who do you think you are? Lone Skum!
You are actively hurting your partner by doing this. Elon has a duty as an officer of Tesla to help it perform well. Diverting or delaying company resources for the benefit of his own, private company is not good.
I'm looking forward to how "AGI is 2 months away" for the next decade.
Not impossible — everyone else is also guessing — unlikely.
He’ll keep planning AGI for a long time too.. perhaps forever..
https://x.com/elonmusk/status/1798007748728365503
Apparently he's just asked to swap the two shipments: the earlier one scheduled for Tesla to go to xAI and the later one for xAI to go to Tesla.
Storm in a teacup
If we weren't in a Two Minutes Hate against Elon Musk, this news would rightfully be a non-story.
https://en.wikipedia.org/wiki/Two_Minutes_Hate
Here's more background on the accusation, and the facts we know:
https://x.com/WholeMarsBlog/status/1797984335322374395
There's a clear conflict of interest. He's treating Tesla like it's his private business instead of the publicly traded company it is.
It's time for Musk to step down as CEO of Tesla.