this post was submitted on 13 Jun 2024
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A Boring Dystopia
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What the fuck they going pay him with? The company never even made that much money. Guess Telsa is closing it doors.
According to Google ai (the same "intelligence" that is suggesting to add glue to pizza) Tesla has 15 billion in profits yearly, so it's "just" three years of profits.
But this number seems off because dividing that number by the number of cars sold in one year it means that they have a 9k pure profit on each car sold. Seems too much?
And if they're drowning in money why they summarily fired all that people? Just because the CEO is a psychopath and finds it fun?
That's about right. Their profit margin per vehicle in 2023 was nearly $10k USD.
They laid off all those people to maximize profits while they're experiencing a downturn due to reduced demand and increased competition. Workers never share in good fortune, only misfortune.
Tesla's shareholders are insane to give Tesla's greatest liability a huge payout while their company is experiencing a downturn. I can't wait to watch Tesla crash and burn.
And now they have a negative profit margin on the Y and 3 with all the 0% financing they're doing. Great time to dilute the stock for sure
I think they’re going to give him newly-issued stock, not cash. However, the newly issued stock will not be backed by new capital (i.e. nobody would have given the company money in exchange for the stock), so what will happen is that existing shares will have their values diluted, i.e. they will be worth less.
In other words, shareholders will pay for Elon’s compensation by devaluing their investments, and not by drawing money out of Tesla’s coffers.
$56B is roughly 10% of Tesla’s market cap of $581B, so shares should be devalued by about that same rate.
There's a joke about panel gaps to be made here.