https://arstechnica.com/tech-policy/2024/06/tesla-chair-says-elon-musk-needs-46-billion-pay-plan-to-stay-motivated/
Musk could devote less time to Tesla if pay isn't re-approved, shareholders hear.
Just pointing out that Twitter is now worth less than the debt he took on to buy it, and yet he seems plenty motivated there.
He put up Tesla stock to finance Xitter, so I'm guessing these effing ridiculous demands for salary and bonus are his attempt to backtrack out of that debt. He must be hurting behind the scenes. OhNoAnyway.jpg ...
Even if he calls a factory-wide meeting, he's not going to get as many people laughing at his "humor" and telling him what a genius he is compared to Twitter.
And that's all he really cares about.
So yeah, he's very motivated to seek out attention from sycophants.
A motivated Elon produced the Cubertruck and replaced the Autonomous Driving ladar sensors with low resolution cameras. A motivated Elon turned Twitter into Xitter. I'm just saying that maybe you want to avoid a motivated Elon.
A motivated-Elon is why sales of Teslas are declining while other EV sales are up by double digits.
I stopped considering a Tesla because of him. His leaving would have to help sales a bit.
Honestly I wish he would 'leave' SpaceX too.
I caught his livestream for the latest Starship launch, and he literally introduced the event with a 10-minute speech on "saving your life" by buying crypto, and how they would match your crypto if you used his link or something. WTF was all that, and WTF did that have to do with SpaceX. --So that was a scam/fake video, but my top comment is still how I feel!
You are the victim of YouTube scam channels pretending to be SpaceX...
SpaceX no longer streams on YouTube anymore, so anything you see will be fake.
It's also disappointing YouTube is so bad at catching these. During IFT4 that was literally the most watched stream, had more viewers than Everyday Astronaut for example.
EDIT: holy shit - I tried googling it since i thought I was taking crazy pills, and it says that was an AI-video that dubbed over elon?!
I consider myself pretty keen on scam stuff (well... I didn't buy any crypto so I guess I'm still good here) but man when I saw it I just shook my head an ignored it. I didn't realize it was fake.
wow.
also, to be fair, he has been a proponent of crypto in the past.
Pump&Dump?
Musk bought into some shitcoin that crashed before he made profit, so even if he gives half away, the slight boost on price will let him dump the rest for less losses... Maybe?
The problem is that Tesla is essentially just a pump and dump masquerading as a car company. Their market cap is simply absurd and based on nothing other than Musk's personality cult. If Musk leaves the company gor whatever reason, the stock will crash and the company will go bankrupt. They have an obscene amount of debt that is backed by Tesla stock, so once thier stock falls below a certain price, all thos loans will demand their loneu back
I'm willing to bet the payday is so he can get his money without selling the stock. If the stock is artificially inflated the balloon will pop eventually. He's at least smart enough to know that.
Same. I bought stock in it when it IPO'd because he made a good road map that his engineers could get to and they made great use of government funding. He largely just seemed like an awkward nerd. The Thai cave rescue was the instance where I thought there was something seriously wrong with the dude. He decided to have a sub built even though nobody asked him to and the thing did not fit. Then he called one of the rescuers a pedophile. And not just as an odd insult; he doubled down on the claim. Since then it just seems he has been continually seeking attention.
As for the company, their poor quality control was understandable 10 years ago but it's still pretty fucking bad and I honestly think he is a big part of that. I recall watching a documentary a long time ago where the producer was talking to Musk about some of the challenges of making the Roadster. They were in a warehouse that had a couple dozen that had been inspected. Musk looked at the notes on one and it had a pretty major issue that would likely pop up but he was going to ship it anyway. The producer looked at it and noticed that they were looking at the car that would be going to him. Musk very awkwardly backpedaled. It sends that willingness to overlook major flaws has not left.
I was interested in Tesla when it was first getting big. But lost interest fast due to him. I would say you couldn't pay me to own one, but if there's 46 billion just burning a hole in someone pocket, well fuck, for a billion dollars I'll be interested and for 2 billion I'll own it.
Are you telling me that Elon Musk might be, perhaps, quiet quitting? The horror.
Seriously, fuck that guy.
For a billion dollars I have a guaranteed plan to reduce operating expenses by 45 billion. Board of telsa feel free to hit up my DMs
I'll do it for half of that, and I'm pretty sure I have the same plan as the more expensive guy.
He's gotta share and the manager is buying it out of pocket so they're gonna cut some little Caesars slices in half.
It's funny, the world was excited for basically a teched out Toyota Tundra with shitloads of battery. The designers were ready to build that, and they could have kept literally everything else the same (steer by wire, steel skin, glass, bed cover, etc) and everyone would have been happy.
Even looking weird people were excited for it.
But then they deleted half the range and doubled the price and ::pikachu face:: everyone hates it.
Sure, musk was the reason it looks weird, but I'd be willing to bet he's 100% the reason for those other things too, because they likely had to cut weight and size to make it's weird look physical possible.
(I'd still buy it if it had 500+ range)
Or maybe the range sucks because some dipshit insisted it use heavy fucking stainless steel instead of lightweight aluminum or because some dipshit wanted it being "bulletproof" as a selling point.
Sounds like some dipshit shouldn't be making important decisions.
They could replace the skin with foam board, but all that weight savings would just let them reduce the battery to save more on the manufacturing costs.
FYI, it only weighs about 400lbs more than the F150 Lightning, so the skin probably doesn't add much weight over a traditional truck skin. The four wheel steering tech and glass roof probably add more.
they could have kept
literallyeverything else the same
The literal sense of what you're saying is implied since it's not a figure of speech or hyperbole.
I finally saw one of those in person yesterday. It looked like a Hummer fucked a DeLorean.
It reminded me of when Hummers were all the rage as a way to say, "look how much money I can piss away!"
Ok, so that's 3000 Cybertrucks sold, how much Profit do they need to make on each car for a 46 billion payout...?
Award for Person You Could Easily Sell a Bridge To goes to chairperson Robyn Denholm.
He seems motivated enough with Twitter and he makes negative money there. Considering the poster for he has created at Tesla, maybe they should not be motivating him.
I do love that the pay package was blocked by a metal head who owned like five shares.
If so, lets get to the "replace her with Matt Berry" part of the story. What We Do In The Shadows is almost done, he might have the time.
The only problem is that with your merger $200,000 job you'd have to work for 5,000 years at that wage without spending a single penny before you'd reach even one billion dollars. To be e billionaire now would make your start date 3000 BC which would be around the time the Sumeruan writing system was first used.
Now, it gets worse. If you want to make Elons 46 billion dollar package you'd have to start working your full time $200,000 job 230,000 years ago. This would be the prehistoric stone age so finding a $200,000 a year job would be difficult. Even more difficult would be staying alive while working full time for 230,000 years while you earn the amount Elon wants handed to him.
I think the reason people think having a billion dollars is OK is because they can't do math and don't understand the ludicrously in that amount of money.
If I were Grand Poobah, I'd throw the rich a bone and say any wealth over $10 million is taxed at 99%.
No one needs $10 million, but let them have their precious Lamborghinis.
One of the first paragraphs states that by 2017 only 5 countries have wealth tax. Because it's fucking dumb and doesn't work.
That's like the average salary in IT, why bother? I wouldn't even think about becoming a CEO of a company like Tesla without a package worth hundreds of millions.
Hard disagree. I personally hate high level managerial roles and avoid them like a plague. Too much stress, too much responsibility and you essentially have to work 24/7. I'd rather turn off my work phone at 17:00 and go about my own life than earn more money.
I am guessing you could hire several hundred CEOs collectively for that price. And they would not be splitting their time between five companies. Robyn clearly had their nose so far up Musk's ass that it is difficult to figure out where one ends and the other begins.
musk already purchased her...
Tesla Board Chairperson Robyn Denholm urged shareholders to re-approve CEO Elon Musk's $46 billion pay package this week, saying the vote is "not about the money" while suggesting that Musk could leave Tesla or devote less time to the company if he isn't properly compensated. "This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018," Denholm wrote in a June 5 letter to shareholders. Musk's pay plan was nullified by a Delaware Court of Chancery ruling in January 2024 after a lawsuit filed by a shareholder. The ruling said that Denholm had a "lackadaisical approach to her oversight obligations" and "derived the vast majority of her wealth from her compensation as a Tesla director." It also said most board members "were beholden to Musk or had compromising conflicts," and that the proxy information given to shareholders before the 2018 vote was "materially deficient."
Too many folks here thinking they can appeal to the board with logic and reason...
Tesla Board Chairperson Robyn Denholm urged shareholders to re-approve CEO Elon Musk's $46 billion pay package this week, saying the vote is "not about the money" while suggesting that Musk could leave Tesla or devote less time to the company if he isn't properly compensated. "This is obviously not about the money. We all know Elon is one of the wealthiest people on the planet, and he would remain so even if Tesla were to renege on the commitment we made in 2018," Denholm wrote in a June 5 letter to shareholders. Musk's pay plan was nullified by a Delaware Court of Chancery ruling in January 2024 after a lawsuit filed by a shareholder. The ruling said that Denholm had a "lackadaisical approach to her oversight obligations" and "derived the vast majority of her wealth from her compensation as a Tesla director." It also said most board members "were beholden to Musk or had compromising conflicts," and that the proxy information given to shareholders before the 2018 vote was "materially deficient."
Rubber stamp, just looking for the right cover to allow them to do the wrong things.
