The problem is that Elons con man routine is the only reason Tesla is so overvalued. I’m sure they are afraid that if they let him go the stock price would readjust to a reasonable market price.
No matter what you think of him, he is brilliant at conning a tech enthusiast’s money out of their wallets.
Oh, it’s not the only reason, and the other may actually be worse. They sold $1.8 billion of carbon credits to other auto manufacturers last year. Which is pretty much free money to them. And hastens climate change, but, you know, free money.
That just comes with the territory of being wealthy, which he lucked into thanks to Peter Thiel taking a liking to him (probably because he wanted to fuck him). People confused the companies he invested in which happened to be successful despite him, and would probably more successful if he weren’t involved- see SpaceX when Shotwell took over day-to-day operations.
Lots of people, otherwise smart people, smell someone with money and say, “I want to go to there” because they think wealth can be transmitted through close contact.
I call it the Biggest Asshole in the Room strategy. Capitalists can be extremely successful by simply being the biggest asshole in the room. Smarter, more talented, better comnected people will cater to the biggest asshole in the room simply because it makes life easier to appease them. See also: Trump, Jobs, Bezos, Gates, anybody on Shark Tank, Ortega, Murdoch, Koch Bros, etc., all masters of the strategy. It’s a personality type that aligns perfectly with the free market where inertia and friction generate profit from the work of creation, innovation, and productivity.
The problem is that Elons con man routine is the only reason Tesla is so overvalued. I’m sure they are afraid that if they let him go the stock price would readjust to a reasonable market price.
No matter what you think of him, he is brilliant at conning a tech enthusiast’s money out of their wallets.
Oh, it’s not the only reason, and the other may actually be worse. They sold $1.8 billion of carbon credits to other auto manufacturers last year. Which is pretty much free money to them. And hastens climate change, but, you know, free money.
That just comes with the territory of being wealthy, which he lucked into thanks to Peter Thiel taking a liking to him (probably because he wanted to fuck him). People confused the companies he invested in which happened to be successful despite him, and would probably more successful if he weren’t involved- see SpaceX when Shotwell took over day-to-day operations.
Lots of people, otherwise smart people, smell someone with money and say, “I want to go to there” because they think wealth can be transmitted through close contact.
I call it the Biggest Asshole in the Room strategy. Capitalists can be extremely successful by simply being the biggest asshole in the room. Smarter, more talented, better comnected people will cater to the biggest asshole in the room simply because it makes life easier to appease them. See also: Trump, Jobs, Bezos, Gates, anybody on Shark Tank, Ortega, Murdoch, Koch Bros, etc., all masters of the strategy. It’s a personality type that aligns perfectly with the free market where inertia and friction generate profit from the work of creation, innovation, and productivity.