"Yet I believe this pay package helped drive his descent from visionary business leader to bizarre carnival barker."
Elon's South African origin, the use of "Descent" in the title and the strange, inhuman way they've pictured him in the photo above the article gives this article a out-of-place evolutionary vibe.
I believe in honouring deals, even if it’s unsavoury ex post facto. Until recently, that meant approving the pay package.
But Musk unilaterally amended the deal when he “threatened on X…to develop AI elsewhere if he doesn’t get a 25% stake in Tesla” [1]. Then he developed AI elsewhere [2]. If you promise to give me a dollar, you dither, I say I’ll burn your house down if you don’t, and then I burn your house down, I don’t believe you owe me the dollar anymore. If Musk is serious about this pay package, he should offer to return xAI’s funding and merge it into Tesla in exchange for the vote.
The entire process is a numpty test. Unfortunately, a decade of zero interest rates a many numpty makes.
I hadn't thought about it quite in this way before, but a lot of this rings true here. My belief on whether or not to give Musk his pay package is certainly biased, as my opinion of the man himself has steadily declined over the years.
Matt Levine of "Money Stuff" often talks about Musk's attention as being a sort of commodity. While Musk's various companies are very different, they share enough commonalities that if Musk wants to do a certain thing, he can usually select between two or more of his companies to do it. So directing Musk's attention to certain of his companies can have a big effect on what projects those companies get to tackle, and what funding they get to do it.
The AI thing is a good example, and Musk threatening to take his attention away from Tesla to do AI elsewhere (if he doesn't get his pay package), and then going ahead and raising funding to do that AI stuff over at xAI... yeah, I think that's a great argument to vote no on the pay package.
"Tesla shareholders must reject the chief executive’s unorthodox compensation package to help turn him back into the visionary we need to fight climate change."
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[ 2.1 ms ] story [ 30.9 ms ] threadElon's South African origin, the use of "Descent" in the title and the strange, inhuman way they've pictured him in the photo above the article gives this article a out-of-place evolutionary vibe.
But Musk unilaterally amended the deal when he “threatened on X…to develop AI elsewhere if he doesn’t get a 25% stake in Tesla” [1]. Then he developed AI elsewhere [2]. If you promise to give me a dollar, you dither, I say I’ll burn your house down if you don’t, and then I burn your house down, I don’t believe you owe me the dollar anymore. If Musk is serious about this pay package, he should offer to return xAI’s funding and merge it into Tesla in exchange for the vote.
The entire process is a numpty test. Unfortunately, a decade of zero interest rates a many numpty makes.
[1] https://apnews.com/article/tesla-elon-musk-pay-package-share...
[2] https://x.ai/blog/series-b
Matt Levine of "Money Stuff" often talks about Musk's attention as being a sort of commodity. While Musk's various companies are very different, they share enough commonalities that if Musk wants to do a certain thing, he can usually select between two or more of his companies to do it. So directing Musk's attention to certain of his companies can have a big effect on what projects those companies get to tackle, and what funding they get to do it.
The AI thing is a good example, and Musk threatening to take his attention away from Tesla to do AI elsewhere (if he doesn't get his pay package), and then going ahead and raising funding to do that AI stuff over at xAI... yeah, I think that's a great argument to vote no on the pay package.
"Restore Elon Musk (and Tesla) to Greatness"
to
"To Understand Elon Musk's Descent, Look at His $46B Pay Package"
The page's html header title tag is...
"Opinion | Tesla’s Pay Package Ruined Elon Musk. Shareholders Should Reject It."
And the header content tag says...
"Tesla shareholders must reject the chief executive’s unorthodox compensation package to help turn him back into the visionary we need to fight climate change."