Posted on 04/22/2025 3:17:33 PM PDT by Miami Rebel
Tesla CEO Elon Musk began his company’s earnings call on Tuesday by saying that his time spent running President Donald Trump’s Department of Government Efficiency will drop significantly starting in May.
Musk, who has watched Tesla’s stock tumble more than 40% this year, said he’ll continue to support the president with DOGE “to make sure that the waste and fraud that we stop does not come roaring back.”
After spending almost $300 million in the 2024 campaign to help return Trump to the White House, Musk created DOGE and joined the administration with a mission to drastically reduce the size and capability of the federal government.
He said he’ll continue to spend a “day or two per week” on government issues “for as long as the president would like me to do so.”
Musk’s commentary came after his company reported disappointing first-quarter results, including a 20% year-over-year slump in automotive revenue. In addition to challenges the company already faced, such as competition out of China and an aging fleet of electric vehicles, Tesla has recently been hit with protests in the U.S. and Europe and brand damage due to Musk’s ties to Trump and his support of Germany’s far-right AfD party.
“The protests that you’ll see out there, they’re very organized,” Musk said on Tuesday’s call. He claimed, without evidence, that some people are likely protesting “because they’re receiving fraudulent money” or are “recipients of wasteful largesse.”
On its website, which was last updated on Sunday, DOGE says its cuts have led to an estimated $160 billion in savings. However, Musk’s estimates of savings have been challenged, and DOGE has deleted some of the largest purported savings.
As of February, staffers from DOGE had pushed top-ranking officials at the Department of Education out of their offices, rearranged the furniture and set up white noise machines to muffle their voices, according to employees at the agency. U.S. senators expressed concern that DOGE had possibly gained access to federal student loan data on tens of millions of borrowers.
Also in February, the Trump administration said that USAID would shut down as an independent agency and be moved under the State Department.
Job cuts have come from across the government, at agencies including the Internal Revenue Service, National Park Service, Consumer Financial Protection Bureau, and the departments of Agriculture, Education, Energy, Health and Human Services, Homeland Security, and Veterans Affairs, according to the Associated Press.
When you go up like this on bad numbers it means you have put in the bottom for your stock.
No problem Elon. Leave some of your lieutenants in charge.
We knew you were going to be doing this for only so long
Elon is probably as frustrated as we are at all the district judges blocking everything he has worked for over the past 2 months.
What exactly do you mean? Your post makes no sense.
A Lefty at work was saying how excited they were that Tesla had a bad first quarter saying people didn’t want doge and didn’t like cuts. 🙄
Elon has done more for America than any elected official (other than Trump) has after 20’s!
I don’t know how he ever found the time to spend on DOGE in the first place. I know he promised stock holders there would be a limit of about 120 days or so. For this, the left will try to ruin him forever. Musk did say that he knew the Deep State would kill him if he didn’t root out the corruption in DC (i.e., which funds the Deep State).
His post makes sense to anyone who follows the markets.
If the release of bad news causes the share price to go up, that means that selling has been exhausted and that buyers had been waiting for all the decks to be swept clean. You’ll see that sometimes when a company takes a write-down on a questionable asset or when it cuts a dividend that the market thought was unsustainable.
In this case, the market was discounting that poor quarterly performance and with its release the focus shifted to the possibility of a rebound. On top of which, Tesla holders were aggrieved that its CEO was showing only peripheral attention to its problems.
I follow the markets and it was still jibberish.
I’ve available.
Just teach me the software and I’ll jump right in.
I’m sure he’s as frustrated as I am. He has identified countless criminals who have robbed the country of trillions and nothing has or will happen to them. The only problem the hordes of felons have encountered is having to pause their criminality as they wait for their judicial protectors to deconstruct everything Musk has done.
Abolish the irs quit paying taxes then live with own kind and enjoy the local and state government that you voted in snd thought you wanted, or let steal in. Fund the fed function national defense only, reps and congress no pay no staff no office just a vote and a pat on the back if due, DC get jobs real jobs.
We have been lucky to have him as long as we have. I’ve never heard of anyone doing such an amazing job — and across multiple departments!
Elon has done more for America than any elected official (other than Trump) has after 20’s!
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Hear, hear!!
MUSK DID NOT “CREATE” DOGE.
OBAMA had a ‘department’ to do this kind of work & NEVER had it do anything.
TRUMP/MUSK RENAMED IT “DOGE” & LIT A FIRE UNDER IT.
but leave the same guys in DOGE because they are doing amazing work
absolutely
Seems clear enough to me. Company puts up terrible earnings numbers and the stock goes up. Means something. Means the stock has bottomed out because it was immune to bad news. What is the confusion?
Jibberish? Is that a technical term.
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