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Delaware judge strikes down Elon Musk's Tesla pay package for 2nd time
(www.businessinsider.com)
this post was submitted on 02 Dec 2024
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That would be more than the entire market cap of Ford. Or VW, Honda, BMW, Hyundai, Stellantis, etc.
Truly preposterous.
How much profit would Tesla have to make on each car they ever sold to finance his package?
They actually do generate enough revenue in a year. Ignoring business expenses ofc. That would be the 15b figure below. Elon is quite literally asking for an amount that would be comparable to liquidating all of tesla, selling off every scrap.
Well it's stock options, not cash, so not as many as you may think.
People look at the number and nothing else.
Go back to when this pay package was crafted. The basic deal was, here's a King's ransom to do the impossible. Nobody ever thought that the performance targets required to trigger this payout were possible. Tesla achieved that. Elon and achieved that. And the stock continued to go up. Keep in mind, most of the money here is in stock not cash. So the 56 billion dollar number is only because the stock has continued to rise.
I say pay the man.
I'm glad your generation isn't getting laid, I'd hate for there to be more dumbasses that need to justify why a billionaire needs more billions.
I say hang the man.
on a ceiling fan for fun until there's a red streak across the wall in every direction, then make it a memorial to American workers.
His kind eats entire generations of wealth. He's an enemy to you and everything prosperity stands for. If Trump wants to start ejecting immigrants, he can start with that one.
I'm not 'justifying why a billionaire needs more billions'.
I'm saying that your personal opinion of Musk doesn't fucking matter. Neither does mine. What matters is facts. You may think he's an asshole, but if you can't objectively recognize that he's achieved a lot, if his current political misadventures must necessarily invalidate his past accomplishments and make him unworthy of any praise in your mind, then you're a small minded fool blinded by your own hatred.
Perhaps. But if it wasn't for Tesla, electric cars would still be '10 years away'. Do you deny that?
Yes, because Electric-car and self-driving aren't a combo deal.
Every Tesla runs on the same battery they did before there were Teslas, hundreds of 18650s, and golf carts had regen braking.
If it seems like a lot of our progress is just smoke and mirrors, it mostly is.
18650's existed. But nobody was putting them in cars. All the prototype cars automakers were showing off used large format pouch cells. These had various issues with heat and longevity and safety and thermal expansion. Using 18650's in a car was a Tesla invention.
Teslas today no longer use 18650s, they use 2170s and 4680s, both cell formats brought into mainstream by Tesla.
The bigger issue is nobody was building electric cars!! All the pieces of tech existed but nobody was bothering to put them together. A big part of Tesla's mission (which they accomplished) was basically to embarrass mainstream automakers into building EVs. That's worked.
That's what I credit Tesla/Elon with doing- actually building a damn EV and selling it.
He is a Nepo baby manchild who bought his way into everything. He has a team of handlers who keep him from doing and saying shit so he won't fuck things up worse than he already has.
He spends his free time playing video games, twatting, and doing drugs. He ignores his twelve kids and pretends to be CEO of two companies while having involvement with five others.
He fucks his staff and threatens to sexually assault women for fun. Your opinion of him is so far from the truth one could only conclude you literally have no fucking clue or are surgically attached to his ass in order to swallow all his shit.
Actually I suspect I know more about him than you do.
I didn't know of him in the PayPal days. I did know of Tesla though. I was reading their blog as their then-CEO Martin Eberhard was trying to make the original Roadster into a reality. Eberhard was focused on a design that involved a two-speed gearbox, you could select gear 1 for more power or gear 2 for more range/higher speed, and switch between the two at any time (including while driving). The problem is, making a gearbox and synchromesh that will reliably shift under load at 16,000 RPM is tough. Making it last the life of the car, and be cheap enough to put in a car, is double-tough.
So I watched that blog as they tried for about two years, going through different transmission vendors and designs.
That was when I first heard of Elon. He was one of the initial founders of Tesla, one of the largest investors. And after a year or two he stepped in and started throwing his weight around. He pushed Eberhard out and stepped in as CEO. And his first choice was to dump the transmission entirely, focus on engineering a larger / more powerful / more efficient electric motor that could deliver good acceleration through a single-speed reduction gear.
That got the Roadster out the door.
Point is- while he may have stepped into the big chair like a bull in a china shop, he was right. He quickly identified the objectively correct engineering decisions and started Tesla on the right path.
Look at SpaceX. Elon basically built SpaceX from the ground up. Him and Tom Mueller (designer of the Merlin rocket engine) were the first two employees.
I'm not claiming he's a saint. I personally know people who have worked directly for him. Everyone inside and outside his companies agrees he's kind of an asshole sometimes and he rides his people absurdly hard with no concept of work life balance. And lately he's gone a bit off the rails with his politics.
But I am claiming, and I think objective history shows, that he is effective. Being an asshole doesn't invalidate that.
You're moving the conversation off-topic, ceo-salary is out of control and this "paypackage" is ridiculous.
Wow, you have constructed quite the fantasy world for Muskrat. One where his is an innovator, hard but consistent, a mentor, a teacher, an imperfect vessel who is more good than bad.
Pardon me while I throw up. He is not actually CEO of two companies. That is not even possible. He is not also involved with five other companies, he doesn't have the time. He doesn't take care of his twelve kids and is on record already disowning his child like the piece of shit he is.
He does not know more about manufacturing than anyone else. He knows what he pays people to tell him. He is a charlatan and a conman by trade. He lies and says he will deliver on driverless taxis (one of his many lies) to drive up his stock. That is fucking fraud my friend.
He is instead a drug addict narcissist loser who pretends he knows shit but just borrows and buys all the advice he needs. A classic Nepo baby whose degenerative behavior runs in his family.
Twelve kids with three partners and probably a lot more he has paid to abort or threatened to silence. One thing we do know is he spends a lot of time trying to and fucking his employees.
If he was a saint he would the the saint of misinformation. He bought a company with other people's money and let them turn it into a propaganda outlet used to manipulate countries and subvert democracy.
Everyone says he is a raging asshole. His previous partners say they can't recognize him anymore.
You know what though? I am going to trust Sir Special Ed a Lot on this and start sucking Elon's butthole.
perhaps, but irrelevant.