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[–] 119 points 1 year ago (3 children)

The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion, a figure that exceeds the current combined market values of Meta, Microsoft and Google-parent Alphabet, the filing says.

OK, so not going to happen. This is just bullshit to suck oxygen away from the dumpster fire that is Tesla sales figures.

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  • [–] 63 points 1 year ago

    As I understand it, the fine print allows the board to wave a lot of the requirements and award a large part of the pay package anyway. And since the board is entirely under Musk's control, that's pretty much guaranteed to happen.

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

    Headline is a bit misleading. He has 10 years to meet a list of requirements to get the pay package.

    I actually don’t think he can do it.

    He has to sell 1mil humanoid robots, get 12mil robo taxies in the street, and get Tesla’s market cap to $8trillion.

    I don’t think he can do the last one. They are at 1 trillion now. NVIDIA has the highest market cap at like 4 trillion.

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

    He won't be able to do the other things either.

    The most difficult part of designing humanoid robots is the AI. Boston Dynamics has been working on it since 1993. You can't just slap an LLM on it and hope it works. They will also need rigorous safety testing before a new product like this is even allowed to be sold. Not going to happen in 10 years. 20-30 years at least.

    Tesla also is incredibly far behind with their self driving cars. Even if they finally get permission to sell robot taxis, the market will already be saturated by other manufacturers. They will be lucky to sell that many.

    It will just all go on his list of unaccomplished lies:

    https://elonmusk.today/

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

    They will also need rigorous safety testing before a new product like this is even allowed to be sold.

    Sweet summer child ...

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  • [–] 2 points 1 year ago (1 child)

    The United States might let them on the roads, but the rest of market won’t.

    12 million vehicles basically guarantees they have to sell overseas, and for Tesla that pretty much means Europe and Australia, which both have more strict vehicle safety standards than the US.

    It’s not gonna happen.

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  • [–] 4 points 1 year ago

    They will also need rigorous safety testing before a new product like this is even allowed to be sold.

    Welcome to the world according to Musk. These things will be out in the wild, mangling people and spontaneously combusting before a safety inspector can get within a mile of Tesla.

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  • [–] 1 point 1 year ago (2 children)

    It's not even AI that's the problem wrt to making humanoid robots, it's the lack of dexterity of automatons to do even the most basic tasks that most human can do. Even if AI improves, robots that can move like humans is still the hurdle.

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  • [–] 1 point 1 year ago

    Definitely, the small and powerful motors it requires don't exist yet. Every robot until then will move more slowly and fluently than a human

    But they don't need them to in order to sell them. They do need the AI to be smart enough not to kill the humans it works with.

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  • [–] 10 points 1 year ago

    Of course he can’t. He knows that. This was 100% optics, so he can go down in history as the worlds first trillionaire. It doesn’t matter that it won’t happen, it did on paper, and that’s all these types care about. He can now brag and boast on his newfound success, and insanely, it will work (at least for a while).

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  • [–] 5 points 1 year ago

    What if he gets the government to buy it all, in a roundabout way to provide services to the populace via the government. The rejig the taxis to mean robo trains and buses that are free for everyone. The robots can staff hospitals, doing menial tasks (cleaning, changing diapers), leaving the more important work for actual humans.

    Maybe he was a socialist all along!

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  • [–] 5 points 1 year ago

    He doesn't need to do it, he'll just lie about it as he always lies about literally everything.

    Without his lying he would be a nobody as he has no discernable skill beyond lying his ass off and selling people fantasies

    1 million Tesla robots? I've seen student projects that are more impressive than that shit theyve presented and half of it was faked because they couldn't event et anything basic done. Compare those Tesla robots to Boston dynamics and you'd die from laughter

    12 million robo taxis? Tesla still doesn't have full self driving that can get a Tesla off a parking lot yet he claims they can cruise cross country through the US without help. Uh huh...

    And who forgot how we set foot on Mars in 2018? What a wonderful time that was.

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  • [–] 4 points 1 year ago

    Thank fucking god you explained this. I was thinking wtf is wrong with this world and now I understand this is an unreasonable performance comp plan - makes so much more sense and with the damage he’s done to that brand, people like me wouldn’t buy a thing from them. I wouldn’t piss on him if he was on fire.

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  • [–] 3 points 1 year ago*

    It depends on how these things are defined. Say, for example, a 1-foot humanoid roomba minus any utility. When it comes to the market cap, causing hyperinflation of America's dollar can allow it to become true by the word, if inflation isn't part of the agreement.

    The robo-taxi is probably the toughest part. Maybe a means for the military to 'taxi' explosives into civilians at Stephan Miller's command?

    I know. This all sounds stupid. Unfortunately, I have precedent. Gestures at the year 2025.

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  • [–] 2 points 1 year ago

    No way he lasts 10 years.

    Tesla will be bankrupt in 2 years. They may flog it to keep it moving for a while longer, but it is already too late. It's brand reputation sucks, nobody is buying them but losers, most people that own one would dump it if anyone would pay a reasonable amount for it, the quality control is notoriously terrible, and as they age, their repair and maintenance issues are going to become very expensive. They won't recover from any of that. If it wasn't for the government buying so much unused inventory, they'd be in even worse shape than they are.

    Besides, he is one of the most reviled men on the planet. In 10 years, the world is going to be very different. Either it will be ruled by ruthless scum like Musk and Trump, or the other 8 billion people on the planet will do something about the >50 people in the world who are fucking it up for everybody else.

    I'm really hoping that a decade from now, Musk, and his psychopathic super villain buddies, won't be an issue, one way or another.

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  • [–] [S] 56 points 1 year ago (24 children)
  • [–] 46 points 1 year ago* (last edited 1 year ago) (19 children)

    So over ten years Musk is getting about 3% of the entire US GDP for 2024!
    ONE MAN receives just above 3% of GDP! AFAIK that's about the combined value of the productivity of 5 million people for a whole year!
    I don't get how it's even possible for Tesla to pay him that much? And it's absolutely insane that stockholders think he should be paid that much?!

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

    They basically print money by issuing stock, then compensating with that stock.

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  • [–] 24 points 1 year ago* (last edited 1 year ago)

    To add to that, billionaires avoid taxes by borrowing against their astronomical securities and stock assets. This is one of the reasons interest rates are of such concern to the rich.

    They can then use dividends and other liquid income to perpetually pay for the interest. If shit hits the fan, or they want to pay off the loan, then they would have to pay taxes on the income from the sale of assets.

    But if you have a trillion fucking dollars in stock, paying tax on several billion dollars isn’t comparably bad, especially when you can purchase influence by manipulating society with your own social media company and inducing corruption by getting Trump elected.

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  • [–] 11 points 1 year ago* (10 children)

    It may be their plan, but I think that stock is already on shaky ground. Tesla car sales are declining and they are probably running on deficits now, and energy projects are not going anywhere fast.
    The moronic Optimus robot Tesla plans to make is already surpassed by Xpeng, with way more convincing presentation of their humanoid robot Iron, and where Xpeng uses in-house chips something Tesla doesn't have. And robotaxi is an obvious flop that is also going nowhere. Everything Tesla is falling more and more behind.

    How that stock hasn't already collapsed IDK.

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

    Oh sure, the stock price is shaky because Musk is a Nazi and people recognize it, as well as their products not at all living up to the hype, and Musk doing things like only using cameras for any self driving.

    The Musk compensation package itself won’t effect the stock price, though, unless you count it as “throw it on the pile of injustice”.

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

    The Musk compensation package itself won’t effect the stock price

    Maybe not as long as it's just a piece of paper, but as soon as this compensation begin to actually have to get paid, you can bet it will have an impact.
    I sincerely hope the Norwegian fun pulls out, and even if they try to do it slow to not impact the stock value to much to get as much out as possible, there is no way you can put 5% of the stock back to the market without it having an impact.

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  • [–] 1 point 1 year ago (2 children)

    It’s not in the market, though. It’s in Musk’s account, and that’s where it’ll stay (for the most part). Especially options.

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  • [–] 3 points 1 year ago (1 child)

    Doesn't matter, when the stock is registered it's diluted, and will impact the numbers in earnings per share, and the total stock value of the company.
    You can't just issue stock, to increase the value of the company, the stock price will always go down when you issue a significant amount of stock.

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  • [+] 2 points 1 year ago (3 children)
  • [–] 2 points 1 year ago (2 children)

    There's a fair amount of EVs on the market in the US that aren't Tesla's or Chinese. It's a market segment growing every year.

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

    Oooo, that's gonna tank the value of the stock.

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

    No, because Musk isn’t going to sell the stock (or exercise the options). He’s going to take out loans using the stock as collateral, and then pay those loans off with future loans.

    Only plebs actually spend their own money.

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  • [–] 1 point 1 year ago

    No,

    The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion, a figure that exceeds the current combined market values of Meta, Microsoft and Google-parent Alphabet, the filing says.

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  • [–] 2 points 1 year ago* (last edited 1 year ago)

    Ummm dude that's not how that works.

    No money gets created.

    All existing share holders get diluted. The shareholders are paying Musk if this happens. When he gets a paid a tranche, the stock price will dip because of the dilution.

    Edit: like if Musk magically met all the tranches on the last day, and Tesla was worth 8.5 trillion. It's not going to suddenly be worth 9.5 trillion the next day. The price will go down.

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

    This will come in handy when he's arrested and we use his wealth to cure poverty, homelessness, and hunger around the globe.

    What's worth more to our species survival?

    One ketamine addicted pants wetting Botox infused South African Nazi with a fragile ego...

    Or....

    The entire world going to sleep with a roof over their head, a full stomach, and a chance at a better life.

    Take as long as you need.

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

    If you see a trillionaire there is only one moral thing to do, and its not even close

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  • [–] 37 points 1 year ago* (last edited 1 year ago) (4 children)

    I can also run a successful business into the ground, and I would do it for a lot less money.

    Edit

    I saw a meme earlier and adapted it from billions to trillions. It is a literally unimaginable number.

    How Much Is A Trillion?

    • 1 million seconds = about 12 days

    • 1 billion seconds = about 32 years

    • 1 trillion seconds = about 31,710 years. This long ago was the beginning of the last ice age, and before the invention of rope.

    • 1 million minutes ago was approximately 2 years ago

    • 1 billion minutes ago was the year 114 AD,

    • 1 trillion minutes was 1.9 million years ago, the time of the earliest known homo erectus fossils, distant ancestors of modern humans.

    • 1 million hours ago it was the dawn of the 20th century (1901)

    • 1 billion hours ago was 114k years ago, the time when neanderthals first began using seashells as personal decorations. The Sahara desert is a marshland.

    • 1 trillion hours ago was 114.2 million years ago, the Cretaceous period, time of dinosaurs like the Stegosaurus and Triceratops, and the time when bees first evolved. Humans would not evolve for millions more years.

    • 1 million days ago it was about 700BC, Rome was a small village and writing had only just begun to spread.

    • 1 billion days ago was 2.7 million years BC. If all the time since then were compressed to one year, all of recorded history would be just a couple of hours.

    • 1 trillion days ago was 2.7 billion years BC, and the only life on earth were single-cell organisms. Pangaea did not exist yet.

    The entire universe is only 13.8 billion years old, so 1 trillion weeks ago is older than reality itself. That’s how much money Musk was just paid for destroying Tesla.

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  • [–] 2 points 1 year ago (1 child)

    1 trillion hours ago was 114.2 million years ago, the Cretaceous period, time of dinosaurs like the Stegosaurus and Triceratops, and the time when bees first evolved. Humans would not evolve for hundreds of millions more years.

    You fucked this up.

    By your own logic humans wouldn't evolve for at minimum another 85.8 million years from today, which is obviously weekend because humans wrote both my statement and yours so we already exist

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  • [–] 35 points 1 year ago
    [–] 32 points 1 year ago

    Abject unmitigated balls to the wall madness. There's absolutely no way that hapless moron can generate in excess of one trillion dollars of value for those shareholders over the next decade, and even if he could no single individual should ever have that amount of wealth.

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

    Most overpaid "worker" ever.

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

    It's interesting to note that given the evidence of Elon, that being a CEO is a part time job. It has to be. It's impossible for Elon to work 40 hours a week at 6 companies.

    And I've always been told by the people that excuse outrageously out-of-step executive pay with this bullshit narrative about how they are the best and the brightest (just like top athletes, don't you know!), and they work long hours, probably more than anyone else at the company and other such hilarious fictions. They are basically the Michael Jordans of capitalism, yadda yadda.

    This guy cannot be working even 40 hours at all six of his companies. That's simply impossible, even if he never slept.

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  • [–] 5 points 1 year ago (1 child)

    He claims to work 100 hours per week, but that's still less than 20 hours per company.

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  • [–] 3 points 1 year ago

    100%. Even if true, it's 16.7 hours if he divides it up evenly between 6 companies. Which is about two eight-hour days.

    Also, does anyone really think that working 14.3 hours, 7 days a week, is sustainable? I don't believe he's working 100 hours a week.

    Anyway, the more that a certain type of person lionizes Elon as the pinnacle of American-style capitalism, the more they are actually doing quite a lot to tear down their bullshit narratives they've worked so hard for decades to build about executive pay.

    Most of us probably knew quite well it was nonsense, probably even saw examples in our lives of people in the C-suite who were quite full of themselves and how "hard" they "work", while taking quite a bit of the credit and almost all of the profits. Oh, and if they fail, these self-styled heroes don't go down with the ship like mere hoi polloi heroes. Oh no, these heroes of capitalism will parachute out and land on gigantic piles of cash as a result of failing. But we were told these people are like top athletes and put in so much hours of intense visionary work, at a pace few other humans could ever do, and so they deserve all this cushy treatment.

    With Elon, the math is just self-evident. Being an executive, in one of the most successful cases, is most definitely a part-time job.

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

    Tesla is still one of the smallest car companies by actual amount of produced goods and their values

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  • [–] 17 points 1 year ago

    Elon and Trump combined are creating inflation.

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

    I like how they insist on giving him more money when the reason Tesla sales plummeted is Musk spewing Nazi BS everywhere.

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  • [–] 16 points 1 year ago

    This dude is straight Bernie Madoff on a global scale.

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  • [–] 15 points 1 year ago

    I'm so tired of evil people being rewarded.

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  • [+] 14 points 1 year ago* (last edited 1 year ago) (1 child)
  • Fucking morons.

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

    Shorts on Tesla

    Absolutely insane position to be in for a company that has a triple digit PE ratio

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  • [–] 13 points 1 year ago

    The con artist/market manipulator is betting on a WW3 economy while stirring the pot to create that market.

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  • [–] 12 points 1 year ago

    Aww the poor thing, he needs more money for drugs.

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  • [–] 10 points 1 year ago

    For what? Running his company into the ground?

    Pfft... I'd do it for, like, half that.

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  • [–] 9 points 1 year ago (1 child)
  • [–] 8 points 1 year ago (3 children)

    @grok how much ketamine can someone buy for $1,000,000,000,000 ?

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  • [–] 7 points 1 year ago

    Be able to finance a K-hole all the way down to hell with money like that.

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  • [–] 7 points 1 year ago (1 child)

    Does he get to control the resulting robot army or not though?

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  • [–] 7 points 1 year ago

    Evil never dies or goes broke.

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  • [–] 7 points 1 year ago* (1 child)

    If you have a retirement account with "normal" recommended investments (I.e. broad-market mutual funds, target date or otherwise), you're (indirectly) a Tesla shareholder and the fund manager likely voted your shares for this on your behalf.

    You've been disenfranchised and the people controlling your money are breaching their fiduciary duty to you. You should be fucking pissed off!

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  • [–] 1 point 1 year ago

    The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion, a figure that exceeds the current combined market values of Meta, Microsoft and Google-parent Alphabet, the filing says.

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  • And he will leverage the us governments help to meet all criteria to get that pay package. He just has to donate heavily to whoever will replace trump.

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  • [–] 5 points 1 year ago

    Think we should try convincing him to solve world hunger again? Surely he has enough now. /s

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  • [–] 7 points 1 year ago

    Can't wait until this clowns pyramid scheme collapses.

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