Подтвердите e-mail

Для публикаций, комментариев, реакций и сообщений подтвердите адрес.

←

Публикация

Предыдущая публикация
Dave Levitan

Like I know I’m an idiot but genuinely, don’t boards exist in part to correct for executive malfeasance. Like, say, repeatedly spouting Nazi shit in public.

241 тыс.58
Graham Cummins

Only in the sense that they exist to defend the interests of shareholders. Usually the CEO spouting crazy evil shit would be bad for shareholders, but 80% of the share value of a Musk company comes from people's belief in Musk, shutting him down would cost more than letting him spout.

Обсуждение

8 прямых ответов · 30 сообщений

Dr Stephen Poop

If he got squeezed out he not only torpedoes the stock by not being there but he probably sells the billions that he has which makes it extra worthless. Catch 22 for the board, even if they weren’t all in his pocket

Dustin Du Cane

99.99999%

Eli Friedmann

Indeed. Musk, despite or maybe partially because he is a fascist, has created a cult of personality. His companies are wildly overvalued, based in the idea that he is a unique visionary genius. If you destroy him, the valuations associated with him will plummet in chaos. Emperor no clothes syndrome.

Eric Ries

this is a major (and recent) change in the conception of the board! Elon puts the lie to so many governance ideas, by forcing the governance class to admit that they have no principles anymore other than shareholder value

Booster

I think people underrate how long Musk has been coasting on his unearned reputation as a genius amongst the moron community over ten years ago. He’s long past his prime and those companies might easily do better dropping in a new fake boy genius to serve as figurehead.

Ответ для Booster
Graham Cummins

I think that's probably true, but apparently the Tesla board doesn't think so. Also, I think that's a mid-to-long term play at best for them. In the short term, I think the Tesla board going against Musk would be a stock bloodbath.

Ответ для Graham Cummins
Sydney

other reason they won't is its well-documented he bribes them, private jets, island vacations and supercars/just mountains of cash, he bribes everyone involved so they keep him in power regardless of the harm to the company. (its the reason they gave a $55B payout a few years ago, for the kickbacks)

Ответ для Sydney
Love Wins Always

I don't think it's bribes; it's fairly obvious it's threats. Nobody dares remove him. They're afraid for their safety. Musk openly values violence and Rwanda-level hatred above money at this point—way, way above money, to a point where he's not even good at seeming interested in money anymore.

Ответ для Love Wins Always
Love Wins Always

@davelevitan.bsky.social, I'd be curious to see what you think of this thread—and the Kos article linked (which I wrote). It seems self-evident to me that Musk has simply jumped from being too big to fail to being (as I describe here) too dangerous to fail; even when he's losing money like a sieve.

Love Wins Always

In 2019, I wrote at DailyKos about the Kavanaugh hearings signaling a culture shift, where far-right thought leaders were beginning to acquire—seemingly through sheer menace alone—something like the "too big to fail" status that had previously only been the province of large corporations. >

Ответ для Love Wins Always
Love Wins Always

(I wasn't categorizing Musk this way in 2019, but the Kavanaugh hearings for me marked the culture shift that started this trend.)

Ответ для Sydney
Shelley

I wonder if the share holders know that? Is this money taken from the company coffers reducing the profit of the company?

Ответ для Sydney
riparian2

Yes, yes, yes; this is the answer. Their oversight resides in their own pockets.

Ответ для Graham Cummins
SHell4747

Tesla is still ridiculously overvalued for a car company. It's like an order of magnitude er something <-- slight hyperbole The board would be craycray to shitcan him since his personal memeworthiness is the only thing keeping the value high

Ответ для SHell4747
Graham Cummins

Agree. IDK what it is now, but I worked out a year ago that if they were valued similarly to Toyota, scaled by their sales revenue, they'd be at $30/share. So Tesla stock is either Elon stock, or (mostly equivalently) "future AI/Robot/<waves hands>" stock.

Ответ для Graham Cummins
Duncan Buchanan

Just delaying the inevitable - they will be using the time to take money out before the crash comes and destroys the company value.

Ответ для Booster
Fiona Taylor

If he ever was an actual boy genius (debatable), he cooked his brain on drugs and Twitter.

Ответ для Fiona Taylor
Booster

No, never.

Ответ для Booster
Graham Cummins

I think that's right, but at one point he had a set of valuable skills. They didn't include technical genius, but they included managing risk, and telling inspiring stories to investors. He's cooked those skills, now.

Ответ для Booster
jfmjr89

It's getting there. It's not there yet though. He still props up the share price thanks to the stupidity of his supporters.

Ответ для Booster
deon-botl

But he's the best boy in the world

Ответ для Booster
Erica (she/her) 🇵🇸🏳️‍⚧️⚧️

I think what he is genuinely genius at is ruthlessly exploiting public markets to his benefit by creating a series of basically worthless business that the owners get paid out from by consolidating them into larger and larger parent companies. Which is why SpaceX now owns Twitter.

Eldritch Millennial

Tesla shareholders, really big ones, might be stupid. Or grifters.

Jonathan Magnolia Gilligan

What's interesting here is the disconnect between earnings and share price. There is a solid case that Musk's shenanigans have seriously hurt earnings at the same time that they have supported astronomical share prices.

Ответ для Jonathan Magnolia Gilligan
Graham Cummins

100% This isn't only Musk companies. A lot of what's wrong with our economic system recently comes from companies being motivated by share price, and share price being entirely disconnected from real value (like earnings). Musk's companies are the most extreme examples.

Ответ для Graham Cummins
Kate Jackson

One of the most telling things I heard recently: public companies (!!) are now being valued as if they were still VC-backed startups. And then it starts to make sense that there’s a push to quash quarterly mandatory reporting.

Ответ для Kate Jackson
Graham Cummins

TBF, quarterly reporting isn't great, because it can discourage companies from making long-term investments, or convince them to deviate from a good strategy in the face of a trend. Still, there are some bad reasons to want to get rid of it too, as you mention.

Ответ для Graham Cummins
Kate Jackson

I wish were were still in the neoliberal phase of “short term gain, long term pain.” Nowadays, I’d just take someone, anyone, telling a tech broligarch “no” then we can start working on making shareholder elections into real elections involving human beings w/ interests beyond quarterly prices