LaffyApr 30, 2024

#WompWomp

#Tesla to lay off everyone working on Superchargers, new vehicles + getting rid of public policy team, despite robotaxi ambitions.

"Customers not turned off by #Musk's antics instead are losing interest w product lineup of 2 EVs that are ancient in car years (the Models S and X) & 2 EVs that are merely old (the Models 3 and Y)..Any other automaker would have 2nd-gen Model 3 ready to go either this yr or next, but at Tesla, the product pipeline is empty"
https://arstechnica.com/cars/2024/04/tesla-to-lay-off-everyone-working-on-superchargers-new-vehicles/

Tesla to lay off everyone working on Superchargers, new vehicles

Tesla is also getting rid of its public policy team, despite robotaxi ambitions.

Ars Technica
Show thread𝐿𝒢𝓃𝒢 "not yet begun to fight"

@GottaLaff anyone with investments in Tesla as a company needs to ask themselves why Elon Musk decided to make huge cuts in the only portion of the business that was profitable, rather than spinning off the Supercharger technology into its own company, or selling it.

Because there are two possible answers, and neither one of them is good news.

Apr 30, 2024 at 6:22pmWeb
Show threadBishop WhitewindApr 30, 2024
@Lana @GottaLaff This is probably one of the weirdest things I've seen in years which is never good.
Show thread𝐿𝒢𝓃𝒢 "not yet begun to fight"Apr 30, 2024

@GottaLaff and in case the above wasn't clear enough, the two possible reasons are:

1. The technology isn't, actually, that profitable, a fact which he could be attempting to hide from investors

2. He's gutting the company in preparation for a pump-and-dump where he makes millions and investors are left holding the bag

Show thread𝐿𝒢𝓃𝒢 "not yet begun to fight"Apr 30, 2024
@GottaLaff and don't forget secret hidden option #3 where the real answer is yes, both.
Show threadBruce ElrickApr 30, 2024

@Lana @GottaLaff

A class action from shareholders would be entertaining in the same way as Trump's multiple trials are entertaining.

Show threadDan CiruliApr 30, 2024
@Lana @GottaLaff You forgot "short-sighted and hastily-decided cuts to demonstrate so-called 'fiscal responsibility' to investors so they don't sell."
Show threadJim. From Kansas.Apr 30, 2024

@danciruli @Lana @GottaLaff

NFL

Also "Have to keep the stock price up because it's collateral for the loans that pay for his lifestyle" and, really, Wall Street loves layoffs.

Show threadWiley MillerApr 30, 2024

@Lana

In other words, SOP for Trump.

@GottaLaff

Show threadStrider Uwe πŸ‡ΊπŸ‡¦πŸ‡¨πŸ‡¦πŸ‡²πŸ‡½Apr 30, 2024
@GottaLaff @Lana Honestly, I don’t know that he’s that smart β€” or at least capable of β€œlong” term planning. To my mind, the simplest explanation is that on the one hand, he’s a supreme risk addict, totally bored with running a normal company, and on the other hand, he’s a total narcissistic man-baby who can’t handle being told β€œno” ever in any way. It’s a bad combination.
Show threadFish Id Wardrobe ⁂May 1, 2024
@Lana @GottaLaff 3. He's a spoiled child and big batteries bore him now.
Show threadCassandraVertMay 1, 2024
@Lana @GottaLaff
3. Idiots gonna idiot
4. He's trying to sabotage the electric car market. (Sort of a variation on 2 but with a larger blast radius)
Show threadAndThisIsMrsPeacock πŸ³β€πŸŒˆMay 1, 2024
@Lana @GottaLaff "It's super important to pay the CEO 65 billion dollars RIGHT THE FUCK NOW" is not, uh, what a company with a healthy board or governance structure ever says.