Summary via ChatGPT
A Delaware judge invalidated Elon Musk’s $56 billion Tesla pay package for a second time, citing undue influence and unfair terms set by Musk. Despite shareholder approval earlier this year, the court ruled the process failed to address governance concerns and transparency. The judge emphasized the board’s failure to prove the compensation plan’s fairness, suggesting alternative, reasonable payment options were possible. Tesla may appeal the decision or propose a new compensation plan.
Actually I suspect I know more about him than you do.
I didn’t know of him in the PayPal days. I did know of Tesla though. I was reading their blog as their then-CEO Martin Eberhard was trying to make the original Roadster into a reality. Eberhard was focused on a design that involved a two-speed gearbox, you could select gear 1 for more power or gear 2 for more range/higher speed, and switch between the two at any time (including while driving). The problem is, making a gearbox and synchromesh that will reliably shift under load at 16,000 RPM is tough. Making it last the life of the car, and be cheap enough to put in a car, is double-tough.
So I watched that blog as they tried for about two years, going through different transmission vendors and designs.
That was when I first heard of Elon. He was one of the initial founders of Tesla, one of the largest investors. And after a year or two he stepped in and started throwing his weight around. He pushed Eberhard out and stepped in as CEO. And his first choice was to dump the transmission entirely, focus on engineering a larger / more powerful / more efficient electric motor that could deliver good acceleration through a single-speed reduction gear.
That got the Roadster out the door.
Point is- while he may have stepped into the big chair like a bull in a china shop, he was right. He quickly identified the objectively correct engineering decisions and started Tesla on the right path.
Look at SpaceX. Elon basically built SpaceX from the ground up. Him and Tom Mueller (designer of the Merlin rocket engine) were the first two employees.
I’m not claiming he’s a saint. I personally know people who have worked directly for him. Everyone inside and outside his companies agrees he’s kind of an asshole sometimes and he rides his people absurdly hard with no concept of work life balance. And lately he’s gone a bit off the rails with his politics.
But I am claiming, and I think objective history shows, that he is effective. Being an asshole doesn’t invalidate that.
Wow, you have constructed quite the fantasy world for Muskrat. One where his is an innovator, hard but consistent, a mentor, a teacher, an imperfect vessel who is more good than bad.
Pardon me while I throw up. He is not actually CEO of two companies. That is not even possible. He is not also involved with five other companies, he doesn’t have the time. He doesn’t take care of his twelve kids and is on record already disowning his child like the piece of shit he is.
He does not know more about manufacturing than anyone else. He knows what he pays people to tell him. He is a charlatan and a conman by trade. He lies and says he will deliver on driverless taxis (one of his many lies) to drive up his stock. That is fucking fraud my friend.
He is instead a drug addict narcissist loser who pretends he knows shit but just borrows and buys all the advice he needs. A classic Nepo baby whose degenerative behavior runs in his family.
Twelve kids with three partners and probably a lot more he has paid to abort or threatened to silence. One thing we do know is he spends a lot of time trying to and fucking his employees.
If he was a saint he would the the saint of misinformation. He bought a company with other people’s money and let them turn it into a propaganda outlet used to manipulate countries and subvert democracy.
Everyone says he is a raging asshole. His previous partners say they can’t recognize him anymore.
You know what though? I am going to trust Sir Special Ed a Lot on this and start sucking Elon’s butthole.
One thing no one can deny is he is one of the world’s best modern con artists. Between what he has done to make a killing in crypto pseudo-legally and him dodging SEC violations like Neo from the Matrix is super impressive.
The best con artist would not have a third of the world realizing he is full of shit.
You are right about him getting away with fraud. It is apparent that it is nothing unusual though as every rich white man seems to get a free pass to break the law.
Actually the better con artist can have a ton of people know who he is and pull the same con over and over again, and he is doing that in spades. It’s like he doesn’t even need to hide it he is so good.
It is more a indictment of modern society as we have a lot of wealthy conartist including our new POTUS doing the same thing. You only have to look at examples like the pillow guy to see just about anyone can make it big with the right connections.
So is he really good or is the environment just bad and allows these charlatans to operate with impunity. I definitely lean towards the later.
You’re moving the conversation off-topic, ceo-salary is out of control and this “paypackage” is ridiculous.