Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by RyanZAG on Monday June 04, 2018 @04:43PM
(#17232220)
Firing Musk is never going to happen. It would collapse the share price, and investors know that. They can complain, but they can't fire him and not lose a fortune all around.
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by ConceitedCode on Monday June 04, 2018 @06:00PM
(#17233000)
That's what they said about Steve Jobs the first time around.
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by chc on Monday June 04, 2018 @07:25PM
(#17233564)
Apple did start spiraling after they fired Jobs. By the mid-'90s, Michael Dell famously said Apple should just shut down and give the shareholders their money back. What finally turned Apple around was Jobs coming back, and they wouldn't have even made it that far if Microsoft hadn't felt the need to put them on life support in order to stave off monopoly charges. So I'm not sure that's an example of it not being a crazy decision.
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by pooya13 on Monday June 04, 2018 @07:33PM
(#17233625)
Did Steve Jobs own a big portion of the Apple's stock? Elon and his relatives / close friends own a big chunk. (25-30% if I am not mistaken
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by astrange on Monday June 04, 2018 @08:15PM
(#17233888)
No, Apple stock became very diluted thanks to its near death experiences. Steve became a billionaire through Disney/Pixar as much as Apple, and Apple has mostly produced shareholder wealth for Vanguard 401k owners since then.
https://www.bloomberg.com/news/articles/2018-04-11/apple-is-...
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by fgonzag on Tuesday June 05, 2018 @03:35PM
(#17241253)
When apple nearly went bankrupt? So much so that jobs was able to reverse aquire it with what was basically a startup?
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by mikeash on Monday June 04, 2018 @06:54PM
(#17233356)
Is it really?
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by ConceitedCode on Monday June 04, 2018 @07:04PM
(#17233433)
Depends who you ask. To be fair, it is not an apples to apples comparison (pun intended). Tesla is in a very different position than Apple in the early 90's.
With that in mind, the dialogue about Jobs / Musk feels oddly familiar with institutional investors having major issues and everyone else probably being too optimistic.
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by mikeash on Monday June 04, 2018 @07:53PM
(#17233748)
The early 90s? Jobs got fired from Apple in 1985, and he was never CEO during that first time there.
Re:Tesla Faces Accelerating Rate of Model 3 Refunds
by ConceitedCode on Monday June 04, 2018 @09:40PM
(#17234303)
You are correct. It all kind of blurs together at this point :) Thanks for pointing that out.
Obviously people have strong feelings about Tesla one way or the other, as it's obviously a pillar for the high-risk-high-reward ethos that gets people excited, but the future of Tesla is incredibly uncertain at the moment. Elon Musk is likely to be fired from his own company, they have to pay over a billion dollars in loans next year, their cash flow is a mess, and there is no telling when they will actually be GAAP profitable. I don't own TSLA stock nor do I have any short/put positions - but TSLA is almost as volatile as some cryptocurrencies.