I sold all my Tesla shares (TSLA), here's why
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Re: I sold all my Tesla shares (TSLA), here's why
#2"Forgot to say one thing at Tesla annual shareholders meeting: just as my money was the first in, it will be the last out."
- Impulsive Child, CEO and Visionary, Elon Musk (2013)
Re: I sold all my Tesla shares (TSLA), here's why
#3From the author's point of view, one of the key issues is that Musk unilaterally terminated all employees' stock options, but spent tens of millions of dollars of shareholder money to argue that he (and he alone) should be given tens of billions worth of stock options despite his unilateral value destruction and multiple breaches of his fiduciary duties to the other shareholders.
Re: I sold all my Tesla shares (TSLA), here's why
#4From the author's point of view, one of the key issues is that Musk unilaterally terminated all employees' stock options, but spent tens of millions of dollars of shareholder money to argue that he (and he alone) should be given tens of billions worth of stock options despite his unilateral value destruction and multiple breaches of his fiduciary duties to the other shareholders.
Think about it from a talent acquisition standpoint as well - without Tesla's stock compensation, it's pay isn't that much more impressive than other companies (both EV and non-EV).
There are a lot of R&D labs now in the Bay Area touching various different parts of new mobility, and for the truly talented individuals, stock compensation is a major differentiator.
In addition, a lot of Tesla alums did leave for EV competitors or future competitors in the US, Europe, and Asia.
Re: I sold all my Tesla shares (TSLA), here's why
#5Memelord Mc. Musk's downfall.
Re: I sold all my Tesla shares (TSLA), here's why
#6Tangent: Is this blogger (Lambert) stilled contractually owed a next-gen Tesla Roadster, as his affiliate reward for his lifetime number of Tesla purchase referrals? Or has that fallen apart in some way? He was a pro-Tesla superfan turned Tesla-skeptic blogger-journalist—I imagine he's near the top of that Tesla CEO's blacklist now, and I'm really curious how the extreme personal animosity intersects with (what I understand to have been) contractual obligations on Tesla's part.
I haven't followed this story in years.
Re: I sold all my Tesla shares (TSLA), here's why
#7Imo, it's going to get bad for Tesla in the next 5-7 years - Tesla doesn't own the underlying battery IP by leveraging Panasonic who also sells to domestic and international competitors, will lose charging as a differentiating factor now that the charging team was canned and Cheveron and Shell Ventures are entering the fray, and doesn't have a pipeline of heavy trucks just when Daimler entered the fray.
Self driving (Deepscale) might be their only differentiating factor, but even then that market would get commoditized within a decade just like EVs, and both GM (Cruise) and Alphabet (Waymo) could be first-to-market in the US.
In addition, a lot of Tesla alums have left for EV competitors or future competitors in the US, Europe, and Asia due to compensation shenanigans as mentioned in the article.
Re: I sold all my Tesla shares (TSLA), here's why
#8Tangent: Is this blogger (Lambert) stilled contractually owed a next-gen Tesla Roadster, as his affiliate reward for his lifetime number of Tesla purchase referrals? Or has that fallen apart in some way? He was a pro-Tesla superfan turned Tesla-skeptic blogger-journalist—I imagine he's near the top of that Tesla CEO's blacklist now, and I'm really curious how the extreme personal animosity intersects with (what I und…
I doubt it. Elon seems to be operating from Trump's "what the fuck are they gonna do about it?" playbook. To be fair, this playbook works really well if you have enough money to just pay lawyers to run interference for you 24 hours a day.
Re: I sold all my Tesla shares (TSLA), here's why
#9Tangent: Is this blogger (Lambert) stilled contractually owed a next-gen Tesla Roadster, as his affiliate reward for his lifetime number of Tesla purchase referrals? Or has that fallen apart in some way? He was a pro-Tesla superfan turned Tesla-skeptic blogger-journalist—I imagine he's near the top of that Tesla CEO's blacklist now, and I'm really curious how the extreme personal animosity intersects with (what I und…
I doubt it. Elon seems to be operating from Trump's "what the fuck are they gonna do about it?" playbook. To be fair, this playbook works really well if you have enough money to just pay lawyers to run interference for you 24 hours a day.
I'm aware of that reputation—that's precisely why I'm curious!
Re: I sold all my Tesla shares (TSLA), here's why
#10I too divested. One concern I think about constantly these days is that the Tesla we supposedly own is vulnerable to the whims of the CEO. I worry that software updates pushed to my car to satisfy a man (who has absolute control) might not be responsibly thought out and could pose real risks to me and my family. While this might be an overblown concern, it is a real one. He believes he is responsible to no one but himself.