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thoralf ,
@thoralf@discuss.tchncs.de avatar

The stupid shareholders are financing Musk’s Twitter-disaster.

Iheartcheese ,
@Iheartcheese@lemmy.world avatar

Dumb fucks do dumb fuck thing.

SturgiesYrFase ,
@SturgiesYrFase@lemmy.ml avatar

Wait…when did it go from 46 to 56?

And also…do the “shareholders” think this will improve the value of the company? Isn’t it more than half of their revenue? Wouldn’t this actually be a really bad thing for Tesla’s value? Isn’t Tesla one of the few EV producers with quickly dropping sales figures? Are the shareholders actually just Mlon Eusk? Enquiring minds want to know!

doodledup ,

Yes.

SturgiesYrFase ,
@SturgiesYrFase@lemmy.ml avatar

That’s the kinda attitude that takes you places, yer gonna go far kid!

lurker8008 ,

Those idiots decided to throw away their money to a grifter, who are we to judge? Let them drive the company to the ground, plenty of EV producers actually making good cars.

Whirling_Cloudburst ,

They turned on the fully automated self driving feature and now they cannot turn it off.

SturgiesYrFase ,
@SturgiesYrFase@lemmy.ml avatar

I’d be fine with all them diamond handing their way to bankruptcy, if it didn’t help enrich that dickhead musk.

Serinus ,

plenty of EV producers actually making good cars.

Are there? I’m waiting. Maybe the Ionic 6.

Blooper ,

Bolt owner here. Love my car very much.

Serinus ,

It’s discontinued, lol. They now only make one sedan and it’s ICE.

Blooper ,

I mean they’re making the Bolt EUV instead, but it’s basically the same car. It’s 2 inches taller and 6 inches longer than the Bolt EV.

Though I take your point. Discontinuing it was a mistake.

NuXCOM_90Percent ,

I mean, this is actually probably the “right” decision from a shareholder perspective.

Delaware is still going to stop that bribe any time soon. But this way the stock won’t tank when musk guts the company out of spite and they can sell off their shares over the next few weeks/months.

Horrible for the company but… that company was already fucked.

SturgiesYrFase ,
@SturgiesYrFase@lemmy.ml avatar

I’m not super well versed with economics, could you eli5 how it’s a good decision for the shareholders? Not being snarky, I’d actually like to know.

NuXCOM_90Percent ,

…

Delaware is still going to stop that bribe any time soon. But this way the stock won’t tank when musk guts the company out of spite and they can sell off their shares over the next few weeks/months.

Horrible for the company but… that company was already fucked.

SturgiesYrFase ,
@SturgiesYrFase@lemmy.ml avatar

Shhhhh…I haven’t been up for 18hrs, and I certainly haven’t been drinking. Just…just shhhhhhh.

Serinus ,

One of the votes is moving from Delaware to Texas. So enjoy that Texas judge.

YurkshireLad ,

What a farce.

cor ,

he has so much money that he needs more money….

YurkshireLad ,

That’s how the rich operate.

NuXCOM_90Percent ,

Actually speculation is that twitter and general poor decision making may be overextending him.

He still has more “worth” than any of us can ever dream of. But he doesn’t have the liquidity to do anything with it. And considering the strong indications that it is the Saudis and possibly the Russians who bankrolled a lot of the twitter shit…

A good way to think about it is this: Your friend from college who actually managed to buy a house a couple years back? They have more “money” than most people you know. But, unless they are willing to sell that house, they can’t do anything with it. So they are still living based on their paychecks and savings in the bank.

slurpinderpin ,

What a complete joke that company is

Illegalmexicant ,

I’m glad to hear he won’t “lose interest” in working now. I can’t wait to see his next big plan after the industry dominating cyber truck.

AbidanYre ,

Spoiler alert: it mostly involves shit-posting on Twitter and sexually harassing his employees.

YurkshireLad ,

I’ll do that for them for the princely sum of $10 million. Bargain!

Sarmyth ,

If you are looking to subcontract some of that workload, I only need 1 mil to talk shit online

Chef ,

I give dirty looks for $25k. Subcontract your subcontract.

ShaggySnacks ,

For $10k, I will make vague sexual innuendos.

Karyoplasma ,

Idk, 56 billion buckaroos would instantly make me “lose interest” in working. Permanently.

chakan2 ,
@chakan2@lemmy.world avatar

It should eliminate your need to work, but Musk feeds on the attention and less so the money. There’s not a thrill left he can’t afford.

Running around and acting important is all he has left.

ilovededyoupiggy ,
@ilovededyoupiggy@sh.itjust.works avatar

Hell, I’d permanently lose interest in working for a measly $55 billion.

Wrench ,

Don’t undervalue yourself

xantoxis ,

Approximately 4-6 million to live on the interest for the rest of my life. That’s all it would take and I’m out forever.

andrew_bidlaw ,

Asking for another paycheck since they are so soft?

joekar1990 ,

I could totally see Tesla reincorporation in Texas and then the board putting another pay package up for a vote out of spite.

Delusional ,

He’ll start a recycling company to recycle the shitty cyber trucks when they break down or when people get rid of them because they’re shit.

scarabic ,

I think if you read between the line, Tesla people aren’t just worried that he will stop working as hard for them, but also worried that he will flip and become an active detractor of theirs. Look at what he’s done with OpenAI. You can say he owns too many shares of Tesla but he could do quite a bit of damage to their stock price merely by selling them.

Semi_Hemi_Demigod ,
@Semi_Hemi_Demigod@lemmy.world avatar

I should ask my boss for $56 billion so I don’t lose interest in working

Ragdoll_X ,
@Ragdoll_X@lemmy.world avatar

No but you see he is a visionary! A real life Tony Stark!! He’ll do great things with that money like… Making Twitter X likes private for some reason…? I’m sure that cost a lot of money somehow /s

givesomefucks ,

To be clear this isn’t official results, this is what musk is projecting.

But the only think the big holders care about is their return rates. And they know Tesla is waaaaaaay overvalued. It’s all based on hype.

So would Tesla be a better company free of musk?

Undoubtedly.

But they don’t care about that. Musk hype drove the stock price up, no real company would be so overvalued. Without continued hype, the price goes down, which might cause a run on the stock and might end the company.

musk is Tesla. And it’s why the company will be nothing but hype. Doesn’t matter if the company loses money as long as stock price keeps going up.

Making quality vehicles isnt their business model, it’s keeping the stock price up.

Clent ,

Yeah at this point it’s a question of when the hype ends and it all comes tumbling down. There’s nothing but investor sentiment holding the price where it’s at.

Year over year revenue is down 50%, consistently for several quarters. Three missed quarterly estimates in a row.

The smart money is moving to catch the Nvidia bubble.

GreatAlbatross ,
@GreatAlbatross@feddit.uk avatar

Exactly that.
With the current ceo, it’s been hyped beyond value.
One day, the value will return to the actual value.
If the ceo is changed, it will happen pretty rapidly, then the company can grow from there.
If the ceo is not changed, the hype will continue until either a breaking point, or the ceo changing.
So the shareholders have voted for the thing that preserves the status quo a little longer. Road-runner as it is.
And the ceo seems to have managed to extract a large chunk of the current hype money, in exchange for not changing the status quo.

IsThisAnAI ,

Yeah that 500b company printing money and disrupting the entire transportation industry. What 👏 a 👏 joke 👏 lol.

slurpinderpin ,

They just gave a compensation package to their CEO that’s worth more than all the profit they’ve ever made. It’s absolutely a joke

WildPalmTree ,

If true, I wish I could give you more than my sad one up-vote.

slurpinderpin ,

Yeah they have like $30B all time profit, about half of which was last year though

Cosmicomical ,

Apparently it’s now 444B, lol

scarabic ,

It has been cringe in the extreme to watch them debate whether they are giving their babyman chieftain enough billions to appease him.

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