They can’t. The only thing propping up the ludicrous stock price is the myth of “Elon Musk, Super genius” and the legions of Musk fanboys. If they kick Musk out they lose both and the stock will tank. So they’ve got to keep him in place, even as he runs the company into the ground.
It’s not. He even has defenders on Lemmy. Say that he has no experience as an engineer when it comes to cars and rockets and they come crawling out of the woodwork with quotes from people who worship him saying he’s totally an engineering genius.
Stock value can take a very long time to adjust. Once consumers and institutions buy a stock, they can’t sell it easily. It’s either a loss to sell it if they bought at a peak so they wait it out or if it’s up and they want out, selling needs to be spread out to limit capital gains tax. If it’s an institution with a large holding, it will cause the stock to drop before they’re out.
Mostly agree, but. As far as I understand it, for TSLA the majority of the bull run is due to relatively small investors riding the hype. Big stakes are indeed rare to change hands, and mostly outside the marketplaces. Should the small guys really change their mind on the stocks, they (or at least the first wave) will easily dump it, and that will move the market by a lot. We can probably see it in YTD results, but still there is no dumping, in my opinion. Just a correction, so far.
Personally would not buy now, though )
I have a handful of tankie capitalism and “democracy” loving, American “traditional” leaning and religious Republican coworkers who absolutely still believe that he’s a genius. They feel that way about other billionaires too.
Edit: TIL that “tankie” doesn’t mean “capitalism and ‘democracy’ loving, American ‘traditional’ leaning and religious Republicans.” I guess the shorthand for that is just “stereotypical conservative.”
Edit - real question. I have doubts his neo nazi/ libertarian followers are buying EVs because they seem to actively want to harm the environment as much as possible.
I’m genuinely curious what the tankie demographic is like. I could see them as off the grid solar/battery doomsday prepper types.
Yes. If you can’t separate a man from a product then it’s weird. If you obsess over his wealth it’s weird. Liking a car says nothing about Elon. I believe in the environment and it’s the best electric car on the market.
Hating a billionaire for causing the world to be a worse place is not “obsessing over wealth”. That’s quite literally just bootlicker rhetoric to shield the billionaire class. Fuck all billionaires, but especially Musk.
There are so many better options out there that don’t encourage the board to keep a racist, sexist, rightwing nut job in charge. It’s not 2018 anymore, I encourage you to take a look at other options.
The last uber I was in was a Tesla (a Model Y) and it felt like the door was going to come off when I closed it. Not to mention the lack of buttons and the fact that you have to turn your body 45° and look down to see your current speed. Is that really the “best electric car on the market”? I really don’t think you’d be saying that if you were actually willing to explore the market and leave the walled garden.
Yeah, I doubt that, seeing the rest of your comments here and seeing your post history. Maybe in 2018?
Anyway, sure, keep supporting a racist, sexist, rightwing man child. Even if they were “the best electric cars” on the market (they really aren’t), I would avoid them just because of Musk. I wouldn’t be able to publicly display the fact that I gave my money to a blood emerald mine owner’s racist, sexist nepo baby.
I hope your ignorance never wanes so that you can continue to live in your fantasy land. 🙏
It still has nothing to do with his shitty cars and I still didn’t know you owned one.
But it does reveal what kind of person you are that you casually dismiss Musk’s overt bigotry as if it is a “don’t invite him to dinner” sort of thing.
It has nothing to do with the cars but haters have to talk about Elon. Tesla employs over 100,000 people. I am not going to disparage them over Elon being a tool.
I can separate the product from the man. It appears you can’t.
I’ve been very pleased with my car. I plan to buy the truck based on my m3 experience. While you want not like them, the people that own them do.
enjoy your truck that you’re barred from reselling under threat of being banned from buying any tesla product ever again. stipulations like that are how I KNOW it’s a great product! this koolaid is so fucking good omg
Hey, numb nuts, what ban was I evading? Nothing stopped me from posting in your little clubhouse of a shit show. You lose an argument and you ban the other person? How republican of you.
Good job winning this new argument you just started, the fact that you were the only participant shouldn’t inhibit your celebrations even a little bit. Congratulations!
I’m not arguing. I’m explaining why it’s an odd choice to show YouTube to an adult. I’d rather hear your opinion then some moron on YouTube while putting money in evil inc pockets
Dog you’re going off on this fucken tangent that no one is engaging you in. There was a point to this discussion, and then you decided that you wanted to have a hissy fit about youtube. Maybe you did so because you felt you could no longer defend your original position. Maybe your attention span is just that short.
Either way, you refused to play in the same space as everyone else, and I’m not gonna fucken follow you home so you can yell at me about how much you don’t like youtube.
I’m not throwing a hissy fit. I explained to you why I don’t use YouTube. Now you’re once again trying to insult me for god knows what reason because I asked for you to articulate your point rather than using you tube.
I don’t have to defend my position. I have the money. I like it. I’ll buy one if I want. Not sure why you feel the need to attack me and my position.
I attacked the rapid shifting of topics as you lost steam, and the continued insistence that this course of action had any purpose other than to save face.
But please, go off, king! You’re killin it out here, only giving money only to preferencial billionaires.
I have no need to save face. I’m happy with my purchase. I can afford it. I have no qualms owning a Tesla product. I find it odd so many people need to tell me I’m unhappy with my purchase. I’m extremely happy. Best car I’ve ever purchased. I I get you want an echo chamber where everyone says boo to the same beat but I have good faith discussions about topics. I’m not a fan of Elon but I’m a fan of the product. If you don’t like Tesla, don’t buy one.
Never told you how to feel babe, I think it’s stupid so I called it stupid. You’re not obligated to agree with me, and I wouldn’t demand that you do.
You’re being real defensive and dodgey when you could just say “fuck off” and move on! My opinion of what you do with your money doesn’t matter, I’m just some snarky fuck on the internet.
I don’t know how many more times I have to say that it has nothing to do with his shitty cars, but you do seem to be ignoring it, so I’ll say it again, this time in big letters:
It has nothing to do with his shitty cars.
Elon being a tool.
You must come from immense privilege to see someone as rich and powerful as Elon spew overt bigotry and merely call him ‘a tool’ as if he couldn’t utilize his bigotry and wield actual power with it.
I’ve been very pleased with my car. I plan to buy the truck based on my m3 experience.
I really don’t care.
However, out of curiosity: Do you agree with Elon that Jews are not white? Do you agree with Elon that Jews oppress white people?
How many employees could still have their jobs if that pay package was reserved for salaries instead of bonuses to this guy who spends all day, every day, fucking around with a completely different company he’s running into the ground.
I am put off by the judge ruling against it because “it’s unfair to shareholders”. It’s unfair to a lot of people, especially in the wake of layoffs. If the law does not protect the basic necessities for working Americans, then the law needs changing.
How many of Elon’s workers could get paid a living wage for that $56bn? If he passed it up could he stop trying to oppose unions and make some life-changing concessions for his employees?
Even putting that aside, how is that money going to change Elon’s life? As in the daily experience of what he eats, vacation opportunities, housing, etc? Because money is kind of like water - it’s incredibly important if you don’t have enough, but once you have more than you could use the only reason to keep hoarding it is restricting others’ access for pride, greed, or leverage (i.e. purchasing influence).
I’m not even as far left of center as I probably sound. I believe that different economic classes should exist or people aren’t motivated - you need to pay surgeons well in order to get enough surgeons. However, “the floor” should be raised to ensure housing/food/utilities security at the cost of “the ceiling” being lowered (or existing at all). Oxfam says a wealth tax of 5% on multi-millionaires/billionaires would solve world hunger in 10 years, lift 2 billion out of poverty, and much more. As of 2023 the bottom half of the USA, as in about 170ish million citizens, only have access to 3% of America’s wealth while the top 10% control just over 66% of wealth. Deals like this, coupled with the mass layoffs across multiple industries, is only making that obscene inequality worse.
I don’t know how many employees Tesla has, but that literally could turn 56,000 employees into millionaires. Well, not literally, because taxes, but you get the idea.
Raise the floor too high and suddenly nobody needs to sign up to be a murderer for hire to go to college. Suddenly people who actually know how the sector functions can create their own firms. Suddenly the idea of an industry being to big to fail and getting a bailout every decade isn't as necessary. Suddenly your carefully protected tax shields aren't quite so effective.
Edit: Holy crap, I need to confess I misread your post and replied as if you were making a completely different point. That is my mistake, full stop, and after re-reading your reply I can only assume I likely confused you and others.
Any extreme is bad, that’s true. But there’s a lot of room in between current affairs and the situation you’re describing I should have read that more carefully. Many of the happiest, healthiest nations on Earth (prime example being Nordic nations) have a model featuring government intervention in the economy and strong social nets while still being capitalist.
How many of Elon’s workers could get paid a living wage for that $56bn?
There are 140,000 employees, so each one could get $400,000. That is WAY more than a liveable wage. He could give every single person in his company $200,000 and STILL have $28B leftover for his bonus. I can’t imagine what it would be like to have a billion, and I’m a pretty imaginative person who makes a lot of money. If someone said to me, “I can give you $56B, or I can give you $28B and 140,000 other people $200,000. You choose.” I would gladly give all of those 140,000 people handjobs by me personally along with that $200k. It might take awhile to give all those handjobs, but I’d commit to it for $28B.
It would take 972 days of 12 hours per day giving 5 minute long handjobs. Roughly 3 years of indentured servitude to get $28B. Worth it.
Assuming a salary of $200,000/year, this $56B bonus could pay the salaries of 280,000 employees.
The actual layoff was around 14,000 employees. Assuming the same $200k salary, he could have asked for a bonus of $53B instead of $56B and paid for them.
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