Comment on Elon Musk demands another huge payday from Tesla

Landmammals@lemmy.world ⁨1⁩ ⁨year⁩ ago

• SnotFlickerman@lemmy.blahaj.zone ⁨1⁩ ⁨year⁩ ago

  You’re giving the likes of Kimball Musk and James Murdoch way too much fucking credit here.

  His board is filled with fucking sycophants. They won’t go against him, especially his fucking brother.

  It’s hardly a board that is looking to control you when you’ve filled it with Yes Men.

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  • Corkyskog@sh.itjust.works ⁨11⁩ ⁨months⁩ ago

    Why haven’t shareholders elected new board members? Or does his sycophants have the majority in combined total?

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    • Hypx@kbin.social ⁨11⁩ ⁨months⁩ ago

      There's good reason to believe that Tesla is an Enron-esque style fraud. No one in charge has shown any business acumen, and no one can explain how it is actually profitable. But that requires only stooges and yes-men on the board. There cannot be any accountability.

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      • No1@lemmy.world ⁨11⁩ ⁨months⁩ ago

        Every time I leave my house, I see dozens of Teslas driving around. If they’re not profitable, then they’re horrifically bad at making money. They’re ubiquitous. Pretty impressive market penetration for a business run by people who don’t know what they’re doing.

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      • partial_accumen@lemmy.world ⁨11⁩ ⁨months⁩ ago

        and no one can explain how it is actually profitable.

        Hang on a sec, its publicly trade company. Its pretty easy to see how its profitable especially compared to other legacy automakers.

        Tesla vs Ford numbers:

        On the other hand, “let’s look at Tesla and the Model 3. Tesla is aiming for 25% gross margin on the Model 3 and mid-teens profit margin (let’s say 14%). The average price of the Model 3 is projected at around $42,000… [so] the average gross margin on a Model 3 would be $10,500 and profit margin would be $5,880. Compared to Ford’s average vehicle profit margin of $1,100, the Model 3 would be 5x as profitable.” source

        Disclaimer: the source is from March of 2023 and Tesla has cut prices (which means less profit) since then, but they had a lot of room to do so with so much profit per car.

        So one could say that Tesla has been able to charge a premium for a cheaper car, or they’ve been able to reduce manufacturing cost for a moderately priced car. Both result in high margin returns for the company.

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      • fosforus@sopuli.xyz ⁨11⁩ ⁨months⁩ ago

        Their Q4 2023 results will be called in on 24th this month, so we’ll see soon. They were still making profit in Q3, even if dwindling.

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  • be_excellent_to_each_other@kbin.social ⁨1⁩ ⁨year⁩ ago

    I didn't realize that. That's disheartening.

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  • KingThrillgore@lemmy.ml ⁨11⁩ ⁨months⁩ ago

    Are you certain? I’m certain James is the one who broke the story about the drug use since its also his family that runs the WSJ

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  • Landmammals@lemmy.world ⁨11⁩ ⁨months⁩ ago

    You are forgetting about Rule Number 1

    Don’t Fuck With The Money.

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• SinningStromgald@lemmy.world ⁨1⁩ ⁨year⁩ ago

  The only interest they should have is in getting rid of him.

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  • be_excellent_to_each_other@kbin.social ⁨1⁩ ⁨year⁩ ago

    It's hard for me to imagine 2024 not being the year they do.

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• cowpowered@lemm.ee ⁨1⁩ ⁨year⁩ ago

  Tesla’s lofty stock price is to some extent based on hype, and Musk being credited (far too much imo) for the company’s success. If he did leave the stock price would come down to something more sensible, which at least short-term would make shareholders unhappy. But yeah leaving him in charge after what he did to Twitter must also be causing sleepless nights.

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