Tesla Stays Public after Investors Tell Musk: “Please Don’t Do This”

Megalith

Megalith

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Although he seemed intent on taking Tesla private just two weeks ago, Elon Musk has announced that Tesla will remain a public company. While “the majority of shareholders” would have stuck around, many weren’t happy with the idea, as their stakes would have been affected by the change. Musk had toyed with the idea to “avoid the short-term pressures of reporting quarterly results.”

Taking the company private would have freed Tesla from having to make quarterly financial reports to the stock market and abide by strict governance rules. Musk said he had worked with the investment firms Goldman Sachs, Morgan Stanley and Silver Lake to consider all options, and that he had also talked to investors.
 
Just putting it out there, Elon Musk is an asshole and the work culture at Tesla is a reflection of that.

With that said, what a stupid FUCK.

  • He never had funding in the first place; not by any stretch of the imagination or the definition. He pulled a Trump and hoped his "base" and "popularity" would make things appear out of thin air. Trump has supporters who vote. Elon Musk just has internet points...
  • SEC regulations state that a private company can only have 2000 investors, TESLA has thousands of them already. Elon Musk has absolutely no fucking clue how he was doing this. There are no winners in his ramblings of letting current shareholders in on private shares or get this past SEC.
  • Saudi investors who had recently invested in TESLA also invested heavily in a TESLA competitor, again what the fuck was Elon Musk talking about that Saudi's wanted to buyout TESLA. An investor buys into you as much as they believe in you and apparently they believe in TESLA's competitor.
Elon Musk should of been ripped away from TESLA a long time ago. TESLA is fucked again:
  1. Investors who had to pay inflated prices because of his tweets are pissed.
  2. Elon Musk thinks he can manipulate the media through tweets (as usual) but, he manipulated TESLA stocks instead. Now SEC is involved again.

This is getting a bit long but the gist here is that at some point Elon Musk said "fuck you I know I'm doing, look at my tweeter" and told his advisors, consultants, professionals to go fuck themselves. Which is not so bad because now they know what a fuck he is.
 
Musk needs to be kicked to the curb, if not imprisoned.
 
I think Musk is a reflection of a lot that is wrong in Silicon Valley. You have a group of bright people, who have adopted a culture where putting in long hours is glorified, even if it means their brains are literally shutting down. There is a lot of research linking the rise in early Alzheimer's and dementia to people who refuse to sleep. I know several extremely bright developers who keep doing bizarre things, then denying they did them, and both are people who boast about their 80 hour work weeks. The guy needs to stay clear of pot as it prevents your brain from going into deep sleep and he needs to hand off more work to his staff, so he can sleep. I don't think he's a bad guy, I think he is just someone that never learned how to be a manager or trust people around him. If you look at his past with Zip2 and X.com, you can understand why he never learned to trust others, but he would benefit greatly if he was mentored by another CEO. Sadly, he is also is a reflection of the other issue in the Silicon Vally, which is the attitude "I'm a success, therefore my methods must be right".
 
martinmsj said:
  • SEC regulations state that a private company can only have 2000 investors, TESLA has thousands of them already. Elon Musk has absolutely no fucking clue how he was doing this. There are no winners in his ramblings of letting current shareholders in on private shares or get this past SEC.
Click to expand...

From my understanding, he was going to try and utilize a loophole. Owners of Tesla shares would be converted to a Tesla Mutual Fund, Tesla would be taken private (as it'd then be under the 2000 investor requirement) and with this mutual fund having a significant stake in it.

He was essentially planning to pool all of the public investors into one group (acting as one investor with regards to Tesla). But it's been a bit since I read the proposed details.

At the end of the day, I believe his goal all along was stock manipulation. He has to keep the stock price above a number for the upcoming bond maturation date or they get hit hard. What better way to pump it than lay a rumor that the shares would be taken private at $420.
 
Spidey329 said:
From my understanding, he was going to try and utilize a loophole. Owners of Tesla shares would be converted to a Tesla Mutual Fund, Tesla would be taken private (as it'd then be under the 2000 investor requirement) and with this mutual fund having a significant stake in it.

He was essentially planning to pool all of the public investors into one group (acting as one investor with regards to Tesla). But it's been a bit since I read the proposed details.

At the end of the day, I believe his goal all along was stock manipulation. He has to keep the stock price above a number for the upcoming bond maturation date or they get hit hard. What better way to pump it than lay a rumor that the shares would be taken private at $420.
Click to expand...


Yup! That is stock manipulation charge number 2. As if Tesla didn’t have enough problems as it is.
 
Shame he decided against going private, but I guess he's making the right call if the investors recommended against it - despite being committed to go along with the move to private if need be.

It's understandable why he would wanna do this, lots of Americans hate American startups of this sort, because they often attack established brands and aging industries. It becomes an emotional disability for some people, putting cushy old jobs ahead of the country's future.

Going private may have shielded the company and its tens of thousands of local workforce affected by the constant smear campaigns, but if it's going to be too distracting then they're better off concentrating on expansion.

The good news is Elon got the nod from his biggest investors that he's free to get back to long-term planning again, and they'll support that direction even if he stays public. So that should allay his concerns a bit about getting pressured into sacrificing future growth for sake of short term investment firms chasing silly quarterly results like the beady eyed moles that they are.
 
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Elon should concentrate on getting our asses to Mars, that is the truly important thing that only a team under his management can pull off.

Electric cars are nice, but Mars needs some global warming in order to become habitable, so gas guzzlers should be the preferred mode of transportation over there anyway.
 
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Elon Musk, his problem was trying to do to much to fast. I kinda feel for the guy the pressure is now affecting him physically and mentally. I wish I had 1/4 of the smarts he has and I wouldn't even want to walk in his shoes, no WAY. Failure is part of life, when you are actually doing something, I hope he narrows his focus, he is a winner and he will win but first he must lose to regain focus and prospective.
 
mullet said:
Elon Musk, his problem was trying to do to much to fast. I kinda feel for the guy the pressure is now affecting him physically and mentally. I wish I had 1/4 of the smarts he has and I wouldn't even want to walk in his shoes, no WAY. Failure is part of life, when you are actually doing something, I hope he narrows his focus, he is a winner and he will win but first he must lose to regain focus and prospective.
Click to expand...
Yeah feels like its time for a lets buy a billionaire a vacation Go fund me ( to be donated to charity)
 
LightsOut41 said:
I'm sure his out-of-control drug binges aren't helping.
Click to expand...
I seriously doubt this.. he is the picture of overworked and undersleep, and even though he looks under pressure, still too healthy for drug binges ( i think anyway).. honestly surprised he hasn't broke down more, he's a strong guy for sure. I think he gained some weight, very typical of chronic undersleep. He needs a vacation, get healthier, thats all... And maybe a message like the couch last time might help.
 
martinmsj said:
Just putting it out there, Elon Musk is an asshole and the work culture at Tesla is a reflection of that.

With that said, what a stupid FUCK.

  • He never had funding in the first place; not by any stretch of the imagination or the definition. He pulled a Trump and hoped his "base" and "popularity" would make things appear out of thin air. Trump has supporters who vote. Elon Musk just has internet points...
  • SEC regulations state that a private company can only have 2000 investors, TESLA has thousands of them already. Elon Musk has absolutely no fucking clue how he was doing this. There are no winners in his ramblings of letting current shareholders in on private shares or get this past SEC.
  • Saudi investors who had recently invested in TESLA also invested heavily in a TESLA competitor, again what the fuck was Elon Musk talking about that Saudi's wanted to buyout TESLA. An investor buys into you as much as they believe in you and apparently they believe in TESLA's competitor.
Elon Musk should of been ripped away from TESLA a long time ago. TESLA is fucked again:
  1. Investors who had to pay inflated prices because of his tweets are pissed.
  2. Elon Musk thinks he can manipulate the media through tweets (as usual) but, he manipulated TESLA stocks instead. Now SEC is involved again.

This is getting a bit long but the gist here is that at some point Elon Musk said "fuck you I know I'm doing, look at my tweeter" and told his advisors, consultants, professionals to go fuck themselves. Which is not so bad because now they know what a fuck he is.
Click to expand...

Where is your billion dollar companies and oh... your tunneling company and your space program?

Oh right.. another case of judge a billionaire as stupid.
 
wyqtor said:
Elon should concentrate on getting our asses to Mars, that is the truly important thing that only a team under his management can pull off.

Electric cars are nice, but Mars needs some global warming in order to become habitable, so gas guzzlers should be the preferred mode of transportation over there anyway.
Click to expand...


Man made global warming is about as real as the Earth is flat. It would take eternity to generate enough greenhouse gas on top of the massive amount that Mars has to put a dent in the atmosphere.

What we need to do is find the damn alien that lives in the chest of that dude. Get him to emerge and talk to him, get in an epic gun fight, put our fingers in the machine, fall outside on the ground while our eyes pop out of our head and the we can breathe as the artifact machine generates an atmosphere. That should do it.
 
Perhaps Tesla is in financial trouble due to elimination of federal subsidies for electric cars under the new administration.
 
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