In the market these days, it’s not what you’re making now but the future potential of what you might make in the future. And Musk is an expert in dreaming big and make other people believe it.
Comment on Norway’s mega wealth fund to reject Elon Musk’s $1 trillion Tesla pay package
nao@sh.itjust.works 1 week ago
Tesla has sold 7 million and something cars in total according to google. If each of those was 100k, that would still be less than a trillion in total. How could one guy get paid more than the whole company ever made?
WanderingThoughts@europe.pub 1 week ago
CptOblivius@lemmy.world 1 week ago
Ya most of his shit is stupid though. The cyber truck, terra forming mars with nukes, the hyperlopp, etc. The Tesla dream was there before him. I just don’t get it…
fishy@lemmy.today 1 week ago
Because it’s nonsense. We’re a decade past the promised rollout of full self driving, the hyperloop is a failure, the cybertruck is a flop, China makes EVs significantly better and cheaper than Tesla. The batteries they’re selling are looking more and more likely to get leapfrogged by solid state batteries too. Half the world refuses to touch anything his companies produce.
Tesla stock should be in the shitter, but results don’t matter anymore.
Tollana1234567@lemmy.today 1 week ago
the hyperloop was an actual scam to stop claifornias fast rail system from being developed, long enough for elaine chao to block its funding.
vin@lemmynsfw.com 1 week ago
Hyperloop was Musk’s tactic to distract from and destroy sensible public transportation. Tesla didn’t work on it or plan for it.
FreedomAdvocate@lemmy.net.au 1 week ago
And Musk is an expert in dreaming big and make other people believe it.
And has a near flawless record in achieving those dreams, making the people who believed in it filthy rich.
This pay packet is, like his last one, a “bet big on me and I’ll make you all insanely rich, or I get nothing” bet. It makes no sense why anyone would say no to it.
AngryCommieKender@lemmy.world 1 week ago
He hasn’t achieved those dreams at all with Tesla, or any other company that he actually runs. Over a million unsold cybertrucks. No actual autopilot that works. The cybertruck is 17 times more flammable than a Ford Pinto.
Elon Musk is an average intelligence fascist scam artist that happened to have a golden spoon in his mouth from day one.
FreedomAdvocate@lemmy.net.au 5 days ago
Oh can we just lie about things to suit our argument now?
FreedomAdvocate@lemmy.net.au 1 week ago
How could one guy get paid more than the whole company ever made?
Because that $1trillion pay packet is contingent on the value of Tesla going to like $5tril, which would make it the biggest company in the history of the world. It would make every shareholder insanely rich.
mcv@lemmy.zip 1 week ago
But that’s all bubble. Tesla isn’t selling even enough cars to justify its current valuation, and sales are slowing down. The current valuation of Tesla is based entirely on hype, and has been for years. For ever, really, but in the early years it could be justified because it was the fastest growing car company ever, and EVs were new and hot. Now everybody is building EVs, and more than Tesla.
FreedomAdvocate@lemmy.net.au 5 days ago
Is this your first time reading about the stock market? It’s all about “hype” and “bubbles”.
Teslas are still the gold standard of EVs. They’re not the cheapest, but they’re what everyone wants.
mcv@lemmy.zip 5 days ago
Why would this be my first time reading about the stock market? Do you think this is the first bubble?
Yes, hype and bubbles are common on the stock market, that’s not all it is, and that doesn’t make them okay. The dot-com bubble led to a crash. Other bubbles led to crashes. This one will too. How long that will take? That depends on the number of greater fools, or on how long they can keep inflating this with financial trickery.
Teslas are still the gold standard of EVs. They’re not the cheapest, but they’re what everyone wants.
That was years ago. Tesla sales are dropping in many places, while other the other EV sales are growing. Tesla has peaked, there’s no sign of anything that will reverse it. And their sales have never justified their stock value.
ripcord@lemmy.world 1 week ago
This is supposed to be paid out over time based on future performance milestones. Also based on projected increased value of shares as a result.
Still insanely, insanely high though.
peetabix@sh.itjust.works 1 week ago
Based on his performance or Telsa workers performance?
FreedomAdvocate@lemmy.net.au 1 week ago
But undeniably worth it if you’re a tesla shareholder.
It’s like your financial adviser saying “I’ll make you a billionaire in 5 years, and if I do your bill will be $1mil. If I don’t, don’t pay me anything, and you’ve lost nothing” - why would anyone have an issue with that?
bookmeat@lemmynsfw.com 1 week ago
Because it’s an incentive to make money, not an incentive to be a good corporation making good products and services.