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[–] 84 points 1 year ago (2 children)

But he needs 1 trillion dollars for his robot army so he can retain control of his robot army so nobody else can have control of his robot army so he alone can rule the entire world with his robot army.

Dude is a literal supervillain.

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  • [–] 72 points 1 year ago (22 children)

    Tesla has sold 7 million and something cars in total according to google. If each of those was 100k, that would still be less than a trillion in total. How could one guy get paid more than the whole company ever made?

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  • [–] 27 points 1 year ago (3 children)

    This is supposed to be paid out over time based on future performance milestones. Also based on projected increased value of shares as a result.

    Still insanely, insanely high though.

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  • [–] 22 points 1 year ago (8 children)

    In the market these days, it's not what you're making now but the future potential of what you might make in the future. And Musk is an expert in dreaming big and make other people believe it.

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  • [–] 13 points 1 year ago (5 children)

    Ya most of his shit is stupid though. The cyber truck, terra forming mars with nukes, the hyperlopp, etc. The Tesla dream was there before him. I just don't get it....

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  • [–] 18 points 1 year ago (2 children)

    Because it's nonsense. We're a decade past the promised rollout of full self driving, the hyperloop is a failure, the cybertruck is a flop, China makes EVs significantly better and cheaper than Tesla. The batteries they're selling are looking more and more likely to get leapfrogged by solid state batteries too. Half the world refuses to touch anything his companies produce.

    Tesla stock should be in the shitter, but results don't matter anymore.

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  • [+] -4 points 1 year ago (2 children)
  • [–] 6 points 1 year ago (1 child)

    He hasn't achieved those dreams at all with Tesla, or any other company that he actually runs. Over a million unsold cybertrucks. No actual autopilot that works. The cybertruck is 17 times more flammable than a Ford Pinto.

    Elon Musk is an average intelligence fascist scam artist that happened to have a golden spoon in his mouth from day one.

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  • [+] 12 points 1 year ago (9 children)
  • [–] 13 points 1 year ago (8 children)

    But that's all bubble. Tesla isn't selling even enough cars to justify its current valuation, and sales are slowing down. The current valuation of Tesla is based entirely on hype, and has been for years. For ever, really, but in the early years it could be justified because it was the fastest growing car company ever, and EVs were new and hot. Now everybody is building EVs, and more than Tesla.

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  • [+] -2 points 1 year ago (8 children)
  • [–] 2 points 1 year ago (7 children)

    Why would this be my first time reading about the stock market? Do you think this is the first bubble?

    Yes, hype and bubbles are common on the stock market, that's not all it is, and that doesn't make them okay. The dot-com bubble led to a crash. Other bubbles led to crashes. This one will too. How long that will take? That depends on the number of greater fools, or on how long they can keep inflating this with financial trickery.

    Teslas are still the gold standard of EVs. They’re not the cheapest, but they’re what everyone wants.

    That was years ago. Tesla sales are dropping in many places, while other the other EV sales are growing. Tesla has peaked, there's no sign of anything that will reverse it. And their sales have never justified their stock value.

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  • [+] 0 points 11 months ago (7 children)
  • [–] 2 points 11 months ago (6 children)

    There's more to a car than speed, and Teslas aren't Lamborghinis. They were exciting when they were new, but they've always had quality issues. Toyota produces more reliable cars. And more cars. There's no perspective from which Tesla's valuation makes sense.

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  • [+] 0 points 11 months ago (6 children)
  • [–] 3 points 11 months ago (3 children)

    That's just a "the stockmarket can't possibly be wrong" argument, but the stockmarket has often been wrong.

    Tesla is overvalued. That's blatantly obvious if you look at the data. There's no justification for Tesla's insane market cap other than hype or corruption.

    Did you not understand the Corolla/Lamborghini example?

    I do, but I wonder if you do. Toyota is far, far more valuable than Lamborghini. Toyota is the largest car manufacturer in the world, and with a market cap of $269B, the second most valuable after Tesla.

    Lamborghini is not independent, but owned by Volkswagen, as part of their Audi group, and all of those brands put together have a market cap of $58B.

    Your argument is not a justification for Tesla's high market value; quite the opposite.

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  • [+] -1 points 11 months ago (3 children)
  • [–] 1 point 11 months ago (2 children)

    By that argument nothing is ever overvalued because apparently that's what the stockmarket says it's worth. But crashes still happen.

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  • [+] -1 points 11 months ago (2 children)
  • [–] 1 point 11 months ago (1 child)

    That doesn't mean that value is reasonable, though. The stockmarket has a rich history of hysteria and irrationality.

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  • [–] 2 points 11 months ago (1 child)

    this is an extremely surface level understanding, the stock markets value tesla highly because of a history of government subsidies and protections as well as musks perceived closeness to the white house because of how much he paid into the presidency. This has been shown directly through stock analysis around certain events such as the results of the recent american presidency election which led to the stock of tesla drastically increasing overnight. and surging ever since, with notable drops during times when he feuded with trump more openly, losing a 150 bn dollar valuation over just a couple of days at the time of june 5th. And they only started to marginally improve after musk apologized.

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  • [+] 0 points 11 months ago (1 child)
  • [–] 1 point 11 months ago

    you compared a tesla to a Lamborghini... and were complaining that chinese evs selling well doesn't mean theyre better than teslas when objectively many of these cars have a bunch of reasons that they are reviewed better than teslas. You using the stock market to act like teslas are some gold standard has some pretty big importance as to why it matters to bring up Elon Musk and government subsidies, because tesla wouldn't have that valuation at all without those realities.

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    [–] 104 points 1 year ago (5 children)

    Piss baby Musk should take his final breath under a bridge with nothing to his name. That would be fair.

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  • [–] 26 points 1 year ago* (2 children)

    What would be fair would be if he as he is sitting on the ground a Cybertruck in summon mode careened off the road pinning him against the building not killing him instantly but slowly while the radio in the car is playing a comedy show where he and his companies are the punchlines. The last thing he hears is his legacy being laughed at as a joke

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  • [–] 25 points 1 year ago

    threats from Musk to step down if the deal is rejected

    A threat is a good start, but is it a promise?

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  • [–] 43 points 1 year ago (2 children)

    Could the megawealth fund float me a couble billion dollars? Here are my qualifications and reasoning:

    I'm not Elon Musk.

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  • [–] 15 points 1 year ago (1 child)

    HOW IS HE WORTH A TRILLION DOLLARS

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  • [–] 50 points 1 year ago* (4 children)

    From what I have read, he's still likely to be able to line up enough votes to get his $1 trillion pay package (and the associated voting rights), despite a lot of major institutional investors being in opposition. But we'll see when the vote goes though.

    I think that Tesla can probably get a more-effective CEO for less money, personally. Even if he leaves as CEO, he still owns 15% of Tesla and is fabulously wealthy as a result. I don't feel like he's getting a bad deal.

    I do think that there are some arguments that the SEC should pass some regulation to help ensure board-CEO independence; part of the issue is that the board, which is supposed to oversee Musk, has been considered to be acting on his behalf by quite a few people. I don't think that it will happen under the present administration, though.

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    [–] 6 points 1 year ago

    I thought these guys had already sold their Tesla stake

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  • [–] 6 points 1 year ago

    Goddamn. It would be like rehabbing Quisling if they gave that fucking weasel what he wants.

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  • [–] 14 points 1 year ago (3 children)

    This is moot. Musk has never met a milestone once, and if he doesn't meet milestones, he gets jack shit.

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  • [–] 18 points 1 year ago (2 children)

    The reason his last pay package of 50 billion was awarded to him is because he met the milestones for that. It was a similar deal to this one where they set top end milestones that everyone felt were ridiculous and they’d never hit them. Mostly stock targets IIRC.

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  • [–] 2 points 1 year ago (1 child)

    Those were lowball milestones. He actually has to generate real money this time.

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  • [–] 8 points 1 year ago

    Quit rewriting history, those were absolutely not lowball milestones.

    If Mr. Musk were somehow to increase the value of Tesla to $650 billion — a figure many experts would contend is laughably impossible and would make Tesla one of the five largest companies in the United States, based on current valuations — his stock award could be worth as much as $55 billion

    That is a quote from this contemporary article: https://www.cnbc.com/2018/01/23/teslas-pay-deal-to-keep-elon-musk-all-or-nothing.html

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  • [+] -9 points 1 year ago (1 child)