Elon Musk bought Twitter.

[Insane_Homer]

Drug use can’t impair your judgement if you were never capable of good judgement to begin with.
The problem with Elon Musk isn’t the drugs, it’s that he’s an idiot with zero self awareness.

[Guy Smiley]

More on the cars side of the business...

https://www.reuters.com/business/autos- ... 024-01-25/

Tesla (TSLA.O) tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition.
Musk said on Wednesday that growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries.
But he said ramping up production of the new model would be challenging because it would involve cutting-edge technologies.
Tesla's stock suffered its sharpest intraday percentage loss in more than a year, with $80 billion in market value wiped out on Thursday. That pushed its market capitalization loss for the month to about $210 billion.
"The Tesla headlines have essentially gone from bad to worse," said TD Cowen analysts, noting that the fourth-quarter revenue and profit were also below expectations.
Shares of other EV makers also fell, with Rivian Automotive Inc (RIVN.O), Lucid Group (LCID.O) and Fisker (FSR.N) down between 4.7% and 8.8%.
The EV industry has been grappling with a slowdown in demand for more than a year and the price cuts by Tesla will likely worsen the pressure on the startups and automakers such as Ford (F.N)

"The problem for Tesla is any significant attempt to boost sales from here on will probably need to be achieved at the cost of further falls in operating margin, due to having to compete with BYD in China, as well as increased competition elsewhere," said Michael Hewson, chief market analyst at CMC Markets.

https://www.reuters.com/business/autos- ... 024-01-25/

Tesla (TSLA.O) CEO Elon Musk said on Wednesday that Chinese automakers will "demolish" global rivals without trade barriers, underscoring the heat the U.S. electric vehicle market leader faces from the likes of BYD, who are racing to expand worldwide.
Musk's comments come after Warren Buffett-backed BYD (002594.SZ)- with its cheaper models and a more varied lineup -overtook Tesla as the world's top-selling EV company last quarter, despite the U.S. automaker's deep price cuts through 2023.
Chinese car companies were the "most competitive" and "will have significant success outside of China, depending on what kind of tariffs or trade barriers are established," Musk said on a post-earnings call with analysts on Wednesday.
"If there are no trade barriers established, they will pretty much demolish most other car companies in the world," he said. "They're extremely good."
Asked about Musk's comments, the Chinese foreign ministry said at a regular briefing on Thursday that it was unaware of the reports but advocated "maintaining a fair, just and open business environment".
Musk has reason to be concerned.
He sparked a price war last year to woo consumers hit with high borrowing costs, in turn squeezing Tesla's margins and worrying investors. On Wednesday, Musk warned Tesla was reaching "the natural limit of cost down" with its existing lineup.

[fishfoodie]

Oh dear, how sad ......

Elon Musk cannot keep Tesla pay package worth more than $55 billion, judge rules

DOVER, Del. (AP) — Elon Musk is not entitled to landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday.

The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company. They were accused of breaching their duties to the maker of electric vehicles and solar panels, resulting in a waste of corporate assets and unjust enrichment for Musk.

The shareholder’s lawyers argued that the compensation package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him. They also said it was approved by shareholders who were given misleading and incomplete disclosures in a proxy statement.

https://apnews.com/article/elon-musk-te ... nt=rundown

One would hope that the rest of Tesla shareholders now evict the useless turds from the Board, & install people who understand they are there to look after the interests of ALL SHAREHOLDERS, & not just the vile incel narcissist they've made CEO !

[Sandstorm]

to look after the interests of ALL SHAREHOLDERS

Nah, fuck the shareholders too.

[fishfoodie]

to look after the interests of ALL SHAREHOLDERS

Nah, fuck the shareholders too.

You don't have a pension then ?

[Sandstorm]

to look after the interests of ALL SHAREHOLDERS

Nah, fuck the shareholders too.

You don't have a pension then ?

Of course I do. It's invested in UK Water Companies and Steam railways.

[Hal Jordan]

Nah, fuck the shareholders too.

You don't have a pension then ?

Of course I do. It's invested in UK Water Companies and Steam railways.

As well as Transatlantic Zeppelin, Amalgamated Spats, U.S. Hay, Confederated Slave Holdings and that up-and-coming Baltimore Opera Hat Company.

[Insane_Homer]

saDTurd.jpg (116.07 KiB) Viewed 654 times

[fishfoodie]

Keep in mind that this is the dribbling moron, who until fairly recently, was purportedly running the "Tech" company, that was valued more than all the other car companies combined, speaking to the employees of his Space company ...... you know, the people who have the expertise to tell if they're being bullshitted !



The fact that this fraudster is in control of companies that represent a sizeable percentage of stock indexes, is terrifying !!!!

All this commentator is doing is using mathematics a 10 year old is capable of, & using Space Karens own official statements to show he's a lying fuck, & that every statement he makes is a criminal act, because there are shareholders, & he knows he's lying, & those are criminals acts !!!

[Kiwias]

Keep in mind that this is the dribbling moron, who until fairly recently, was purportedly running the "Tech" company, that was valued more than all the other car companies combined, speaking to the employees of his Space company ...... you know, the people who have the expertise to tell if they're being bullshitted !



The fact that this fraudster is in control of companies that represent a sizeable percentage of stock indexes, is terrifying !!!!

All this commentator is doing is using mathematics a 10 year old is capable of, & using Space Karens own official statements to show he's a lying fuck, & that every statement he makes is a criminal act, because there are shareholders, & he knows he's lying, & those are criminals acts !!!

I lasted 15 minutes but could not take any more of Musk.

[inactionman]

Tesla cutting 10% of jobs worldwide

https://www.bbc.co.uk/news/technology-68818113

God forbid Elon taking a haircut.

[fishfoodie]

Tesla cutting 10% of jobs worldwide

https://www.bbc.co.uk/news/technology-68818113

God forbid Elon taking a haircut.

at the minimum !

As usual workers in the US are first in the firing line, because they've no rights at all.

The bottom line is sales have plummeted, & Tesla is just building cars to stuff in inventory, with ~10% of the years projected sales already built & sitting in a car park somewhere. The projections were optimistic anyway, with price cuts last year, to make year end sales targets, taking sales away from H1 2024 anyway.

They spent the last few years focused on the fuck awful non-truck, truck, to the expense of everything else, including the low-cost model which was probably what they needed to stem the bleeding to the Chinese manufacturers. Now he's cutting production in the one plant that can build the CT, so there goes that idiotic idea !

Now Space Karen has lost the insane >$50 billion compensation package his cronies on the board signed off on, & the stock price is plummeting, & that's where all his wealth is.

If the shareholders rebel, they might just throw out the board, & then life will get very interesting indeed.

[fishfoodie]

Another genius move by Space Karen.

https://arstechnica.com/cars/2024/04/te ... w-vehicles

This comment sums it up.

I really am struggling to decide which is the stupidest move. Firing your entire product team when you have no new products and desperately need some, firing your supercharger team even as you hope to reap NEVI funding and turn it into a profit center from other OEMs, or firing your policy team, which would have to do all the NEVi funding stuff, as well as somehow making your robotaxis legal.

It's just ludicrous.

[Hal Jordan]

Not Gotten Over The Divorce Man is thinking of changing the Block function so that all it does is stop blocked users from interacting with the blockers posts rather than stopping them seeing them altogether.

Stalkers rejoice!