Posted on 01/19/2024 3:40:57 PM PST by Navy Patriot
Tesla Inc. CEO Elon Musk has said he wants a 25 percent share in Tesla, and that otherwise he would prefer to build products outside of the company, regarding it as an AI and robotics firm rather than an auto company.
As CEO of Tesla and SpaceX and owner of Twitter/X, Mr. Musk currently holds a 13 percent share in Tesla, or approximately 411 million of the company’s 3.19 billion shares, according to its 2023 third quarter financial report.
Mr. Musk said in a post on his social media platform: “I am uncomfortable growing Tesla to be a leader in AI & robotics without having ~25 percent voting control. Enough to be influential, but not so much that I can’t be overturned.”
(Excerpt) Read more at ntd.com ...
Something tells me that with some unfavorable stories coming out about Teslas, he might be trying to weasel his way out.
RE: forcing Americans....
It was proven after denials that the major auto companies of the time made sure that the popular interurban network would be replaced by individual car buying. They bought interest in the lines and ruined the schedules so people would be stranded or wouldn’t be able to go to some place and get back after shopping or a show. Or have no convenient route to the places they wanted or needed to go including work.
Sees writing on the wall and is going to cash out, almost feel sorry for all the Tesla owners who will be on their own, at least the ones who could afford to repair the turkeys
Dump Tesla, Elon. It’s a loser.
It’ll collapse or the government will force us to buy EVs.
To be honest with you, I dunno what will happen.
easy
democrats win this year. EVs will be forced.
Trump wins this year. It’ll collapse with out government to prop it up
People have figured out that EVs suck, so he’ll bail.
I think he has been wanting to leave Tesla since he realized that the AUTO SUCKS...THEY DON’T REALLY, but they sure have created many, many more problems than benefits.
He’s smart, but a little SLOW in this case.
There sure is a lot of ignorance about Musk on this forum.
Musk is rich on paper because he gets paid in stock. He takes no salary. When he bought Twitter he had stock options that would result in a massive capital gains tax bill (over $15 billion) on money that was not liquid. (He does not keep billions lying around in bank accounts.) So, he needed to make strategic purchases and exercise options to keep him from flushing massive money down the toilet.
Before he looked at Twitter he looked at other possible buys like taking over SXSW (but they sold to Penske Media and rejected his offer). This was a stupid move and Penske is running it into the ground already. Also, it was a political move. SXSW has the transexual media influencer that destroyed Budweiser’s brand coming out to be a featured guest speaker on company branding. Musk would have made SXSW 10x bigger and better. Too bad.
Just to be clear, in 2021/22 Musk paid the largest ($12 Billion, after wise money strategies reduced his burden) personal tax bill in the history of the world, but he had to sell a massive amount of stock to pay that bill because he is cash-poor (relatively speaking).
On his current demand, he is addressing his concern about the direction and safety of AI which he considers (along with many others, including myself) to be an existential threat greater than nuclear weapons.
He already saw his 100+ Million dollar investment in Open AI hijacked by Microsoft as the non-profit was suddenly converted to a for-profit company.
Musk is a world-leader in AI. He contributed to OpenAI and is developing AI inside of Tesla (along with machine learning and robotics), and at Twitter/X.
Musk is simply stating what is both common sense and deep humility. He is not asking for complete control of AI. He is saying he IS going to be a leader in the AI space and demands to maintain a sufficient amount of control over its direction. If the Tesla board gives him what he’s asking for, Tesla’s shareholders will greatly benefit from his AI and robotics expertise.
They should give him what he’s asking and let him lead Tesla to become the world’s most valuable company.
Mimics what Cathie Wood said last week - Tesla is an A/I company. All of their cars collect pooled data in Musks A/I push. She said Tesla is the biggest A/I company in the world
All electic ev, AI, and starlink integration does not promote more freedom. The push of ev by Musk enables .gov to push their green agenda. Naturally, that could be a chicken and egg cycle. But, the dangers of AI will not be controlled or better tempered from someone like Musk. The more something is integrated, the more .gov will be able to control, regulate and destroy.
I believe that is an important point of information.
“The push of ev by Musk enables .gov to push their green agenda.”
Musk believes in the scarcity of resources such as hydrocarbons. His view on EVs is that the transition to them will happen eventually out of necessity, but he also believes that the world needs hydrocarbons between now and then and they should not be demonized.
I disagree with Musk on scarcity. I think the idea of peak oil has proven false. There may be other reasons to go electric, but market forces are generally better at determining outcomes.
“All electic ev, AI, and starlink integration does not promote more freedom.”
These technologies will exist whether or not Musk does them. I think he is a better steward of them and the money than most others.
If you want to stop these technologies (or at least slow them down to a sane pace) you have to cut off the artificially accelerated growth caused by the legal creation of artificial property (i.e. intellectual property).
“The more something is integrated, the more .gov will be able to control, regulate and destroy.”
Politicians, especially the left-leaning ones, seem to be hardwired with sub-reptilian instincts.
The primitive, reptilian brain, when encountering something new asks itself 3 questions: Should I eat it? Should I fight it? Or should I mate with it?
The politician, with his even more primitive brain, when encountering something new asks himself 2 questions: How can I regulate it? And how can I tax it?
That's what we assumed in 1999.
Due to fracking, there's so much more oil than we realize.
Our technology is improving so it will be easier to extract all the oil we need.
“Due to fracking, there’s so much more oil than we realize.”
There is also pretty good evidence of hydrocarbons on other planets. I don’t think it is “fossil fuel”. More than likely, not only do we have more of this natural energy source than we need, but the earth seems to be making more of it.
That's what I thought after we discovered fracking. But the Left will never let us know about that theory. It goes against their "bible".
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