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Let's see what tricks and excuses the judge has now.
i haven't followed all the details of the kangaroo court in delaware, but did the judge say he/she would actually take the shareholder vote into consideration? i thought the 9 share holder who sued already 'won'?
It's going to get litigated again. It already is, if I remember right. The grounds this time will be similar but different. Board independence again, process again, and this time likely shareholder coercion based on the implicit/explicit threats if there were to be a negative outcome.
The prior judgment wasn't a kangaroo court judgment at all, but you already know that. Delaware chancery courts and judges are generally on top of their game, and while they are generally inclined to be pro business, Tornetta was decided correctly and following sound reasoning.
Interesting to see where all this goes and it will be interesting to see what happens with TSLA. I've never sold TSLA, only ever bought, but it's no longer my largest individual holding. Number three now. Luckily for me, I doubled down on Nvidia starting last year, and my AAPL has also overtaken it.
So now that the dust is starting to clear, the shareholders have made their views clear, I'll weigh in. First of all, I'm no Elon shrill. I don't follow everything he says, I'm not part of any cult, I disagree many times how he handles himself in public. I've had a ton of arguments with Lex on this (both public and private), I don't always agree with him either, but I respect his views and I listen to what he has to say. So when it came time to voting on Elon's compensation package, I really took a hard look before I voted. I didn't want to share my vote publicly, but now I will: I voted for it. It wasn't an easy decision, I was reluctant, but I believe Elon 100 percent earned it.There are many reasons, but I'll just address a few, some are personal to me.
I looked at Tesla at the end of 2012, and the close as of Dec 2012 was $2.26. In 2020, the shares had risen to about $53. I had recently gotten my bonus, and a co-worker convinced me to pick up shares from Tesla, at the time the Model 3 was on it's way to becoming the number one sold car in California. I picked up about 400 shares, which at the time were worth about $20k. Today they are worth somewhere along the lines of $71k. Sure, I could have put them in Nvidia and done better ($6 in 2012), but you know what they say about hindsight . He built that company from $9B to today $560B market cap in 12 years, which is impressive to me, and bigger than GM, Ford, and Toyota combined.
Next, as an EV and Tesla owner, I can't say enough how thankful I am to Tesla for making it possible and proving that battery powered vehicles are not only viable, but in 80 percent of cases can fully replace gasoline powered cars. This also gave the incentive to other automakers to start building EV's, which I am now seeing the road being filled with. From 2020, you saw only Model S, X, 3 and Y's, but now I'm seeing lots of Ford Mach-E, Lightnings, VW ID.4, Hyundai Ioniq 5's, Polestars, Rivians etc.
Now let me speak as a Tesla owner. The Model Y is probably the best vehicle I've ever owned when it comes to practicality, efficiency, and driving dynamics. From ordering it, to travelling and charging it, it's just the most amazing car I've ever owned. And when it comes to the software implementation, no company even comes close. Every single update makes the car better, as I'm typing this right now, my Model Y is installing another update. Even FSD, which never really interested me much is amazing. I thought they were crazy taking away the sensors and using cameras only to interpret images, but damn, they made it work. I used it for a full month, and only 1 intervention. I still wouldn't pay $8k for it, but I would definitely pay $199 to use it on one of my long trips.
In conclusion, I don't think Tesla would be what it is today without Elon running it. He's uncompromising in his vision and he pushed the envelope beyond what anyone else would. And like the CEO of my company (who's no Elon follower) said to me: "Tesla is just another automobile company without Elon".
Others may disagree with me, which is fine, this just my opinion
But a majority of institutional investors voted against it, thats very telling. We'll see what happens.
Institutional investors don't give a crap about companies, only their bottom lines. My company I work for won't even take money from them because they can care less if we get product to market, it's just about their 10x. They control the stock market, bring it down when they want to buy and vice versa when they want to sell. I have zero love or respect for them
Two of the largest institutional investors votes for the BODs recommendations. Not that is matters every share has the same weight one group or one person is not more important or more valid.
Shareholders have spoken, twice now with overwhelming support.
Two of the largest institutional investors votes for the BODs recommendations. Not that is matters every share has the same weight one group or one person is not more important or more valid.
Shareholders have spoken, twice now with overwhelming support.
Except they have hundreds of thousands of shares. And the ability to manipulate the market with their 80 percent control of market cap of US equities
Institutional investors don't give a crap about companies, only their bottom lines. My company I work for won't even take money from them because they can care less if we get product to market, it's just about their 10x. They control the stock market, bring it down when they want to buy and vice versa when they want to sell. I have zero love or respect for them
I don't agree with that. At the end of the day when you invest in a company you care about the company. You can't care about your bottom line and not about the company.
I care about the company, in that I want their bottom line to improve my bottom line. Thats what investing is all about.
06-13-24, 06:48 PM
. He built that company from $9B to today $560B market cap in 12 years, which is impressive to me, and bigger than GM, Ford, and Toyota combined.
