I’ve been expecting this, and it isn’t the only thing coming.
Before the recent earnings call, which was far worse than we even expected, we hadn’t heard much from him over the previous few weeks. He knew that terrible call was coming, and had been laying low, probably hoping things would improve some before making what he knew would be a disastrous earnings call. It was the equivalent of watching your diet 3 days before a doctor’s appointment, hoping your weight gain and cholesterol increase won’t be as bad as you know it is.
Also, it was a safe bet that his board of directors was livid, and that he had been ordered by his board to get back to work, or be removed as CEO of Tesla, and now it looks like they are moving toward with firing him. So why that decision?
The probable reason is that now that the earnings call confirmed what everyone suspected, there is almost certainly a shareholder class-action suit brewing over his reckless and irresponsible behavior over the last several months, which has directly caused severe, and probably irreparable damage to the company’s brand image AND it’s sales around the world, as well as tanking the stock price, an unforgiveable sin in the investing world. Now that the bubble has popped, it will never inflate again. As future earnings reports are released, and sales continue to slide, the stock will continue to decline, and the cycle will continue until bankruptcy. And it is all traceable to Skum’s self-indulgent, egotistical behavior.
The only question is will Skum be the only defendant, or will the lawsuit also name the individual members of the board, for not reigning him in, or firing him. They don’t want to be sued alongside him, so they are forcing him to get back to work saving Tesla, or even getting rid of him altogether, thus letting them off the hook for legal liability.
Its doubtful Skum, or anyone else, will be able to save Tesla at this point, its almost certainly too late. It is also probably too late to avoid a shareholder lawsuit. Investors have lost millions of dollars, not due to the vagaries of the market, but due to Skum’s outrageous behavior, like throwing up celebratory Nazi salutes on national TV, which, as CEO, he should have realized would damage his company and its investors significantly.
And arguing that he didn’t recognize the danger in advance is no excuse at all for a CEO, who should have been able to predict the response to his self-indulgent ego bender.
Shareholders have lost many millions, and they won’t just let that go with an “Oh well.” He’s likely going to get sued, and the board is just making sure they don’t go down with him.
Yeah, except he and his brother own majority shares in Tesla and pretty much hand-picked the board. I bet this is nothing but performative; they get a new ‘face’ for the company while he still runs Tesla from the background, Wizard of Oz style.
He was ousted as CEO once, and he’s put in preventative measures in every company since.
If they’re replacing him, it’s with his blessing specifically to try and prevent losses. And you can bet your ass that he’ll be a “special employee/consultant” that has the power to veto the new CEO.
Oh, he runs it. Just not well. He sucks at real CEO work like he sucks at everything else in his life.
Why do I feel like they are just pumping the stock up? What is to stop them from changing their mind and selling the moment they say “Just kidding!” . Rinse and repeat. Might as well since market manipulation is not illegal anymore if you are in the three comma club.
me me! pick me!
That’s OK. The most important thing is to be incredibly rich. Can you work that?
Elon Musk would still own an enormous portion of Tesla, so if you want Elon to be punished you should never forgive Tesla for enabling Musk
As of February 28, 2025, Elon Musk owns approximately 12.8% of Tesla.
12.8% is not an enormous portion. It’s shocking how easily people spread misinformation.
He owns over 410 million shares and is the largest single shareholder. That is an enormous amount
It’s under 13% so while he’s the largest single owner, he still doesn’t own an enormous amount. He could easily be bought out.
Meh. The only possible reason to keep accumulating after a billion is for respect and power. I’m pretty sure Elon has fucked up both to the point where most of his money gets him nothing. I’m pretty sure he is headed to a “death of despair” type ending before long.
I feel so bad for him
Don’t despair Muskquito, people make new friends all the time, even entirely unlikable video game cheaters. There is a nonzero chance you might not die entirely alone. Don’t let the haters following logical trajectories get you down!
The American consumer is a fucking idiot, this has a high chance of success as people forget about Elon and go back to buying them.
I understand completely why you’d want Elon to fail, but why would you want Tesla to fali?
Because they’re not magically taking away his stock shares. If Tesla succeeds so does Musk, no matter what position he holds. Nothing changes when oligarchs who will happily take food out of children’s mouths to enrich themselves and send US citizen children with Cancer away never suffer any consequences.
And that’s BEFORE we talk about the fact that Tesla cars suck ass now compared to similar segments from competitors. They’re a net negative in the industry and in their influence on humanity. EVs are going to continue to take up more market share worldwide without them.
Endless government subsidies inflating the stock astronomically above any other normal car company, as paid for with American tax dollars.
As a company, horrible QC and manufacturing standards compared to even the worst of their peers, and the insistance on self-driving tech that doesn’t even need to exist for their vehicles to function.
Tesla is a shitcoin turned into a company.
I mean, in fairness, do we have any qualms with the rest of the company? Elon was directly responsible for pretty much all of the cyber truck decisions. But the regular Tesla’s, aside from Elon prohibiting lidar and making false claims about self driving, are pretty decent. Without him, lidar might get implemented, the cyber truck will probably be scrapped, and real engineers will have their voices heard again.
Isn’t that kind of what we want from a company? To realize their errors and remove the cancerous parts?
They’re overvalued in the triple multiples compared to other American car companies because they’re a meme stock and halfway ran on government subsidies we paid for rather than putting it into education or social causes.
A step in the right direction isn’t good enough when there’s miles to tread.
A step in the right direction isn’t good enough when there’s miles to tread.
So all or nothing? Then you’ll get nothing.
Tesla was garbage before Elon came out as a Nazi. The quality control is non existent and has been.
Yes, and that’s another reason the company is failing, and I won’t buy a car from them. But, that’s not the point here, the point is Musk’s stupid antics are having major consequences for him. The only value he’s had for the company for years is as a mascot. The company succeeded so far as it has in spite of Musk, not because of him. Same for SpaceX.
I think you’re probably giving a potential new CEO too much credit. You really think that Elon will just relinquish control over his company and let the CEO do whatever? Not a chance.
He will still have a shitload of shares. I don’t need to get into the nitty-gritty detail of whether I hate the company or its products; his stock in it is what allowed him to buy the election for Trump, so fuck Tesla.
But did Tesla facilitate that or was Tesla worn like a puppet by an investor(Elon). There’s a distinct difference and what I’m asking. Do we blame every company that gets gutted by Venture Capitalists? Do they have no path to redemption?
