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I've been laid off from Corporate jobs I've had when I lived in SoCal, but since coming to Northern Cal in 2001, I've survived every round of layoffs so far. I started off working for the current founders medical device incubator, worked my way up to Director of IT, and now work for one of his startups that went public in 2021. Survived three rounds of layoff here . I did though once have to go two months without a paycheck, back in 2010. I've seen so many layoff's, it's not even funny. One our startup companies literally went from 60 or 70 people to Zero overnight. There was a time when only 6 of us were left, which gave me many sleepless nights...
"don't like it, find something else to do" is something that's only ever said by people who don't have to work under those conditions and who are making value judgments and finding the job under discussion to be beneath them.
"don't like it, find something else to do" is something that's only ever said by people who don't have to work under those conditions and who are making value judgments and finding the job under discussion to be beneath them.
not at all. the job is irrelevant. i have had several jobs where i realized it wasn't for me, and i moved on. and one company in particular i left because i felt management abused people despite claiming "respect and dignity for all" (not). millions of people leave jobs where they think they're mistreated or just for better opportunities. i would think working at tesla in any capacity would be quite a nice line on a resume. next you'll be giving the sob story about how people at tesla can't leave those jobs. yeah that's it, they're trapped.
What Tesla needs is a PR department to not only control news, but to put out a positive spin on the EV's they offer, and spread the word to help them sell better. And they need one NOW. The recent SC team fiasco proves this. Assume Tesla did the right thing, the news that came out was a PR disaster for the company and it's shareholders. Even those most supportive of Tesla found themselves in a bind. A good PR department would have gotten ahead of the bad news and at least got it under control. If Toyota can convince people that PHEV's are EV's and are the "best of both worlds" (leaving out the Performance and driving dynamic differences), then for sure a PR department would overall benefit Tesla.
On another note, Tesla just increased the APR to 1.99 percent for 72 months
This means Tesla must be selling a hell of a lot of Y's
Article on Fortune discussing the upcoming shareholder meeting and a notice filed by key institutional investors opposing the key measures. The article discusses the issues in a fairly balanced way albeit it glosses over two key aspects, the board misleading stockholders about their own assessment around the difficulty in achieving the targets and not actively negotiating the pay package with Musk (something that have, reportedly, not done this time around either). In other words, Musk dictated the package and the board complied.
Investors clash over Elon Musk’s $46 billion pay package: ‘The board has yet to ensure that Tesla has a full-time CEO’
Tesla investors are lobbying to shoot down the largest moonshot compensation plan in history.
A group including the New York City pension funds filed a notice on Monday urging others to vote against Tesla CEO Elon Musk’s $46 billion stock-option package at the company’s shareholder meeting on June 13. New York City Comptroller Brad Lander, who serves as investment advisor to the city’s funds with $260 billion in assets, is marshaling the charge.
According to the letter he signed, the Tesla board is “overly beholden” to Musk and hasn’t bothered to step in when Musk ignores Tesla to focus on his roles at the Boring Company, Neuralink, SpaceX, X, and other companies. The investors complained about Musk splitting his time between the companies by focusing on one company per day. “The board has yet to ensure that Tesla has a full-time CEO,” investors said.
Meanwhile, he’s siphoning key talent away from Tesla. “More recently, Musk has begun poaching top engineers from Tesla’s AI and autonomy team for his new company, xAI, including Ethan Knight, who was computer vision chief at Tesla,” the investor letter said.
The notice has the makings of a showdown next month between some of Tesla’s pension fund investors, who believe they’re overpaying for a part-time CEO, and the EV maker’s base of individual retail investors who see Musk as a visionary leader who must remain at Tesla at all costs. At stake is a shareholder vote to ratify Musk’s pay plan, now valued at about $46 billion, after it was rescinded by a judge in January. Tesla proposed the pay plan a second time in the spring, and has thrown its support behind the proposal.
for voting and Tesla’s own adshttps://www.votetesla.com/. Since April 29, Tesla has notified investors 11 separate times that Musk has tweeted about the meeting or that it has updated its website devoted to the vote, titled “Protecting Your Investment and Tesla’s Future.”
According to the dissident investors, which include Amalgamated Bank, AkademikerPension, and SOC Investment Group, Musk represents a key risk to stock values because he has pledged a portion of his 20% stake in Tesla as collateral for loans. “If Musk were ever forced to sell his pledged stock, it could lead to a massive drop in stock price to the detriment of shareholders,” the investor letter said.
Plus, the hands-off nature of the board means Musk treats Tesla “as a coffer” for himself and his other businesses, the investors argue. Musk has admitted to using Tesla engineers to work on issues at X, formerly Twitter, and defended himself by saying that “no Tesla board member had stopped him from using Tesla staff for his other businesses,” according to the letter. Those “distractions” have played a material role in Tesla’s underperformance relative to the S&P 500, General Motors, and Ford, investors said.
The Tesla board begs to differ, however. The website Tesla set up to support its pay-ratification vote features voting instructions and other information about the shareholder meeting, including a video with independent board chair Robyn Denholm. In it, Denholm said Musk’s comp plan was set up a decade ago with targets so “far-fetched, so extraordinarily ambitious that skeptics called them laughingly impossible.”
“If he failed, Elon was entitled to receive no salary, no cash bonuses, and no equity,” said Denholm. “But if Elon was able to make it happen, you and all other stockholders would reap the benefits. The award worked.” In half the time, Musk grew revenues from $11.8 billion to $96.8 billion, and turned profitability from $2.2 billion in the red to a $15 billion profit, Denholm said.
Indeed, one of the key reasons the vote to ratify Musk’s moonshot pay plan succeeded in 2018 was because the stakes were markedly different from other CEOs. The Tesla board was prepared to pay Musk $0 if he didn’t hit the targets, rather than applying what is known as so-called “board discretion,” where corporate directors still pay CEOs who have failed to hit financial markers.
Oftentimes, boards tell investors they don’t want to hold CEOs or executives responsible for economic headwinds or other factors out of their control that contributed to them missing stated financial targets or goals. Although, boards must balance the need for discretion with the need to keep executives and CEOs in their roles. Only in an extreme case would a CEO take home no pay for a long-term award—in addition to no salary, cash bonus or time-based stock—because the risk of losing the executive and destabilizing the company would be too high.
What makes Musk’s pay plan complicated is that investors likely see troubles ahead for Tesla, while the board appears to be focused on paying Musk for the targets he achieved in the past. Further, the magnitude of his pay and the fact that Tesla’s performance has struggled this year has added to the complexity. The company announced it would lay off 10% of its staff and even slashed its summer internship program, all while the company is devoting resources to reinstating Musk’s moonshot. Musk himself famously ignores the norms most publicly traded company CEOs abide by and appears to act—and tweet—impulsively and without conferring with the independent directors on the board, which does little to reassure investors.
In addition to ratifying his pay plan, Tesla is seeking investor approval to move from being incorporated in Delaware to Texas, a change that seems motivated by the Delaware judge’s ruling on Musk’s pay. According to the voting website: “The Delaware Court has shown that it will ignore the will of our stockholders. We believe in stockholder rights. We believe Texas Courts will respect those rights.”
In addition to rallying other investors to vote down Musk’s pay, the dissident group is asking shareholders to withhold support from Musk’s brother, Kimbal Musk, and former 21st Century Fox CEO James Murdoch. Kimbal has served on the board for 20 years, and Murdoch is Musk’s friend. Neither is truly independent, the investors said.
What Tesla needs is a PR department to not only control news, but to put out a positive spin on the EV's they offer, and spread the word to help them sell better. And they need one NOW. The recent SC team fiasco proves this. Assume Tesla did the right thing, the news that came out was a PR disaster for the company and it's shareholders. Even those most supportive of Tesla found themselves in a bind. A good PR department would have gotten ahead of the bad news and at least got it under control. If Toyota can convince people that PHEV's are EV's and are the "best of both worlds" (leaving out the Performance and driving dynamic differences), then for sure a PR department would overall benefit Tesla.
On another note, Tesla just increased the APR to 1.99 percent for 72 months
This means Tesla must be selling a hell of a lot of Y's
Didn’t they have 0.99% just last week? Why does the Tesla constantly change their prices? This can be frustrating.
Nvidia CEO Jensen Huang Touts Auto Industry's AI Data Center Demand, Says Tesla 'Far Ahead'
Nvidia (NVDA) Chief Executive Jensen Huang talked up Tesla (TSLA) autonomous driving efforts on Wednesday, claiming the EV giant is "far ahead" on self-driving vehicles and that all cars will eventually have autonomous abilities. TSLA shares angled lower Thursday."Tesla is far ahead in self-driving cars but every single car someday will have to have autonomous capability," Huang told Yahoo Finance Wednesday night. "It's safer, more convenient, it's more fun to drive."
Tesla along with Chief Executive Elon Musk are major customers of Nvidia.
Huang added that it is better for artificial intelligence (AI) models to learn from video directly, as opposed to photographs. However, he said that this technology requires enormous training facilities because the data rate of video is so high.
"The best way to teach these AIs how the physical world behaves is video," Huang said. This will require high levels of computing demand "in the years to come," according to Huang, referring to automakers and demand for AI data centers.
Nvidia on its earnings call Wednesday mentioned myriad automotive customers working on AI self-driving, including several China EV players.
Nvidia reported that revenue from automotive was $329 million, up 17% sequentially and up 11% year-on-year. The company added that this increase was primarily due to its "self-driving platforms."
Chief Financial Officer Colette Kress said on the earnings call Wednesday that Nvidia "supported" Xiaomi to launch its first electric vehicle, the SU7 sedan, which is posing a serious threat to the Tesla Model 3 in China.
Kress added that its updated AI car computer software, Nvidia Drive Thor, is slated for production in vehicles in 2025. Customers include BYD (BYDDF), XPeng (XPEV) and others.
"We expect automotive to be our largest enterprise vertical within data center this year," Kress said Wednesday.
Meanwhile, Tesla broke ground on $200 million Megapack site in Shanghai for its energy storage business. It's set to be mass production in early 2025. It will face off against a number of rivals including BYD and CATL, a major Tesla supplier for EV and storage batteries.
Tesla Stock Performance And Tesla Vote
TSLA shares dropped 2% to 176.42 during market trade on Thursday. Tesla stock fell 3.5% to 180.11 on Wednesday after surging 6.6% on Tuesday. The stock is up 1.5% on the week but TSLA remains down around 30% on the year.
Meanwhile, Tesla shareholders are voting in the run-up to the June 13 annual meeting as everyone awaits the result to see if Musk's 2018 $56 billion compensation package will be reapproved or not.
Nvidia CEO Jensen Huang Touts Auto Industry's AI Data Center Demand, Says Tesla 'Far Ahead'
Nvidia (NVDA) Chief Executive Jensen Huang talked up Tesla (TSLA) autonomous driving efforts on Wednesday, claiming the EV giant is "far ahead" on self-driving vehicles and that all cars will eventually have autonomous abilities. TSLA shares angled lower Thursday."Tesla is far ahead in self-driving cars but every single car someday will have to have autonomous capability," Huang told Yahoo Finance Wednesday night. "It's safer, more convenient, it's more fun to drive."
Tesla along with Chief Executive Elon Musk are major customers of Nvidia.
Huang added that it is better for artificial intelligence (AI) models to learn from video directly, as opposed to photographs. However, he said that this technology requires enormous training facilities because the data rate of video is so high.
"The best way to teach these AIs how the physical world behaves is video," Huang said. This will require high levels of computing demand "in the years to come," according to Huang, referring to automakers and demand for AI data centers.
Nvidia on its earnings call Wednesday mentioned myriad automotive customers working on AI self-driving, including several China EV players.
Nvidia reported that revenue from automotive was $329 million, up 17% sequentially and up 11% year-on-year. The company added that this increase was primarily due to its "self-driving platforms."
Chief Financial Officer Colette Kress said on the earnings call Wednesday that Nvidia "supported" Xiaomi to launch its first electric vehicle, the SU7 sedan, which is posing a serious threat to the Tesla Model 3 in China.
Kress added that its updated AI car computer software, Nvidia Drive Thor, is slated for production in vehicles in 2025. Customers include BYD (BYDDF), XPeng (XPEV) and others.
"We expect automotive to be our largest enterprise vertical within data center this year," Kress said Wednesday.
Meanwhile, Tesla broke ground on $200 million Megapack site in Shanghai for its energy storage business. It's set to be mass production in early 2025. It will face off against a number of rivals including BYD and CATL, a major Tesla supplier for EV and storage batteries.
Tesla Stock Performance And Tesla Vote
TSLA shares dropped 2% to 176.42 during market trade on Thursday. Tesla stock fell 3.5% to 180.11 on Wednesday after surging 6.6% on Tuesday. The stock is up 1.5% on the week but TSLA remains down around 30% on the year.
Meanwhile, Tesla shareholders are voting in the run-up to the June 13 annual meeting as everyone awaits the result to see if Musk's 2018 $56 billion compensation package will be reapproved or not.
Tesla has big exposure on that IMO. Customers who paid for FSD have a legitimate complaint, and if it ever went to discovery you can bet your bottom dollar that there is significant evidence that Tesla knew that what was promised, whether by Musk or whomever, could not at that time have been delivered within the then foreseeable future. The line between puffery and fraud is blurred, but this is likely beyond it. As best as I can tell Tesla doesn't recognize revenue on FSD subs upfront, it's deferred and drip fed in (as is common with with subscription revenue or with payment made for future delivery). So that increases risk as some of that deferred revenue will be factored in to the valuation and into investor sentiment.
Do you still believe all Teslas already sold will be FSD capable? If not, do you think a big lawsuit will await Tesla?
As far as I know, all Tesla's currently sold are FSD capable. Cyber Truck doesn't have FSD enabled yet, but will have capabilities enabled when ready.
Talking to someone who follows Tesla much more closely than me, he says FSD and Robotics are more important to Elon than even raw vehicle sales. If that's true, every single Tesla sold will have the capabilities
Now are you asking will it fully work one day? I don't have the answer to that question. Probably if it doesn't fully work, then you will see lawsuits
EDIT:
I re-read your question, and I am assuming you mean Tesla's going back to 2014? I don't know, but if not and they bought FSD, then I can see lawsuits in the horizon
05-21-24, 10:19 AM
. I did though once have to go two months without a paycheck, back in 2010. I've seen so many layoff's, it's not even funny. One our startup companies literally went from 60 or 70 people to Zero overnight. There was a time when only 6 of us were left, which gave me many sleepless nights...
