Tesla's Board is attempting to award Musk compensation that is obscenely unfair, using a proxy statement prepared with a flawed process and containing egregiously inadequate disclosures.
Pay that man his money….. There are plenty of CEOs in the S&P who take home far more than the company they run. Besides, the entire claim that his compensation is exorbitant rests upon the grossly underestimated size of the AI market going forward. If he gets a meaningful slice of that market, his pay package today will look like peanuts. It’s like pro athletes, every new contract that gets signed looks obscene - today - but 5 years from now, they look like a bargain.
Tesla needs to reach an agreement with Elon, because without Elon, Tesla will go bankrupt in a couple of years. But what Tesla shareholders need to ask in return is a semi-exclusivity, a share of every new startup that Elon starts, or at least a call option.
This is so disingenuous in a number of places it’s laughable.
He uses the price today vs price in 2018 to say it’s unfair, but fails to mention that for better or worse the price today wouldn’t be a reality without Musk at the center of the company. Just look at all the “financial experts” who were laughing at the package when announced for how absurd the ambition was. Would love to see someone else take Tesla from $23 and 7.8x it.
He uses the projected financials to make a case, but if he was at all unbiased he’d have the self-awareness to realize that the package in 2018 looked absurd in part because no one projected Tesla’s P&L to be what it is today. And if he had any sort of intellectual honesty he’d realize that projections don’t mean shit when incorporating AI because not one person can say definitively what the next five years in tech will look like.
And mentioning declining top line without putting into context that it’s from ATH’s is just the cherry on top of a poorly structured argument that comes off as a big ole tantrum.
Pay that man his money….. There are plenty of CEOs in the S&P who take home far more than the company they run. Besides, the entire claim that his compensation is exorbitant rests upon the grossly underestimated size of the AI market going forward. If he gets a meaningful slice of that market, his pay package today will look like peanuts. It’s like pro athletes, every new contract that gets signed looks obscene - today - but 5 years from now, they look like a bargain.
https://bagholder.substack.com/p/chasing-asymmetry-with-tesla
Elon Musk is entertaining, so I say give him the 25%
Musk worked for minimum wage for 6 years. Everyone KNEW what his reward would be if he delivered, even if few besides Elon believed he would.
Well, he delivered. So SHUT UP and let the risk-taker get his just rewards.
It's America, you should admire success, not be envious of it!
Tesla needs to reach an agreement with Elon, because without Elon, Tesla will go bankrupt in a couple of years. But what Tesla shareholders need to ask in return is a semi-exclusivity, a share of every new startup that Elon starts, or at least a call option.
This is so disingenuous in a number of places it’s laughable.
He uses the price today vs price in 2018 to say it’s unfair, but fails to mention that for better or worse the price today wouldn’t be a reality without Musk at the center of the company. Just look at all the “financial experts” who were laughing at the package when announced for how absurd the ambition was. Would love to see someone else take Tesla from $23 and 7.8x it.
He uses the projected financials to make a case, but if he was at all unbiased he’d have the self-awareness to realize that the package in 2018 looked absurd in part because no one projected Tesla’s P&L to be what it is today. And if he had any sort of intellectual honesty he’d realize that projections don’t mean shit when incorporating AI because not one person can say definitively what the next five years in tech will look like.
And mentioning declining top line without putting into context that it’s from ATH’s is just the cherry on top of a poorly structured argument that comes off as a big ole tantrum.