2017 Investor Roundtable:General Discussion

[geneclean55]

Referring back to the Ashlee Vance biography of Elon Musk, Elon is said to have stated that, “The longer you wait to fire someone the longer it has been since you should have fired them”.

Swift and merciless termination of employees does not surprise me. It’s part of the risk in working for Musk.

Right, do people think Musk reached his current position by being all warm and fuzzy?
He is driven and has high expectations.

 

[kenliles]

If you go to twitter, it definitely involved engineers and also production line workers.
But, hey, would you fire people (even if they are under performing) before or just after getting over the hump of production hell...? So good news, right!?

Yep. If and when Underperforming is stoking the hell fire
Much more than this Tesla example but Jobs fired most of iCloud team when they didn’t perform, set them back months, in the end it brought the goods.
Never maintain underperformance at the price of quality.

 

[ValueAnalyst]

Tesla fires hundreds from headquarters, factory

400 to 700 people were let go in a company of 35,000 as part of annual reviews? This is normal.

 

[geneclean55]

400 to 700 people were let go in a company of 35,000 as part of annual reviews? This is normal.

It seems ok to me also, even if the timing is interesting.
Lets see how the media spin it.

 

[ValueAnalyst]

It seems ok to me also, even if the timing is interesting.
Lets see how the media spin it.

It's an annual review, and I wouldn't expect Tesla to move its annual review because of Model 3. Note that GM laid off several thousands of employees this year.

 

[myusername]

remember the $**6's post?

9/05: high $356 low $346
9/06: pin $346
9/07: rise with bottom at $347
9/08: drop with hold at $345 close $343
9/11: AH close $365
9/12: drop with recovery to $366 close $363
9/13: open $359 close $366
9/14: dramatic morning rise to $376
9/15: close $376
9/18: close $386
9/19: close $376
9/20: swing with late day peak at $376 close $374
9/21: open $376 close $366
9/22: open $366 dramatic drop to $356 close $352
9/25: drop $350 spike $356 close $346
9/26: swings around $346 close $344
9/27: late spike $346 close $341
9/28: morning drop $336 close $337
9/29: $338 - $344 anomaly
10/2: morning swing drop $336 pin $337 AH spike $348 AH close $336
10/3: open $336 dramatic rise to close $348 AH close $350
10/4: dramatic rise $356
10/5: close $356
10/6: open $356 swing $360 close $356
10/9: open drop to $346 close $342 AH close $346
10/10: open $346 dramatic rise all day $356
10/11: close $356
10/12: close $356
10/13: close $356

 

[geneclean55]

It's an annual review... did you expect Tesla to move its annual review because of Model 3?

Does anyone here realize GM laid off several thousands of employees this year?

I have no idea how Tesla conducts its annual review. I do know that a number of employees were let go with immediate effect, one of whom reached out to mercury news journalist via twitter a couple days ago resulting in this article.

 

[Reciprocity]

remember the $**6's post?

9/05: high $356 low $346
9/06: pin $346
9/07: rise with bottom at $347
9/08: drop with hold at $345 close $343
9/11: AH close $365
9/12: drop with recovery to $366 close $363
9/13: open $359 close $366
9/14: dramatic morning rise to $376
9/15: close $376
9/18: close $386
9/19: close $376
9/20: swing with late day peak at $376 close $374
9/21: open $376 close $366
9/22: open $366 dramatic drop to $356 close $352
9/25: drop $350 spike $356 close $346
9/26: swings around $346 close $344
9/27: late spike $346 close $341
9/28: morning drop $336 close $337
9/29: $338 - $344 anomaly
10/2: morning swing drop $336 pin $337 AH spike $348 AH close $336
10/3: open $336 dramatic rise to close $348 AH close $350
10/4: dramatic rise $356
10/5: close $356
10/6: open $356 swing $360 close $356
10/9: open drop to $346 close $342 AH close $346
10/10: open $346 dramatic rise all day $356
10/11: close $356
10/12: close $356
10/13: close $356

Speaking of 6s, you forgot where it went from $176 to $356 in roughly a year.

 

[Reciprocity]

I have no idea how Tesla conducts its annual review. I do know that a number of employees were let go with immediate effect, one of whom reached out to mercury news journalist via twitter a couple days ago resulting in this article.

I have had some experience in manufacturing and my experience is that people tend to work as hard as the guy or gal next to them and so on through an entire manufacturing process, the laziness spreads quickly but only if it's tolerated. If people are held to account, it doesn't spread.

 

[geneclean55]

400 to 700 people were let go in a company of 35,000 as part of annual reviews? This is normal.

Also, just to clarify, an estimated 400-700 let go from Fremont that employs 10,000.

 

[myusername]

remember the $**6's post?

9/05: high $356 low $346
9/06: pin $346
9/07: rise with bottom at $347
9/08: drop with hold at $345 close $343
9/11: AH close $365
9/12: drop with recovery to $366 close $363
9/13: open $359 close $366
9/14: dramatic morning rise to $376
9/15: close $376
9/18: close $386
9/19: close $376
9/20: swing with late day peak at $376 close $374
9/21: open $376 close $366
9/22: open $366 dramatic drop to $356 close $352
9/25: drop $350 spike $356 close $346
9/26: swings around $346 close $344
9/27: late spike $346 close $341
9/28: morning drop $336 close $337
9/29: $338 - $344 anomaly
10/2: morning swing drop $336 pin $337 AH spike $348 AH close $336
10/3: open $336 dramatic rise to close $348 AH close $350
10/4: dramatic rise $356
10/5: close $356
10/6: open $356 swing $360 close $356
10/9: open drop to $346 close $342 AH close $346
10/10: open $346 dramatic rise all day $356
10/11: close $356
10/12: close $356
10/13: close $356

funny stuff... when this closes at $356 or $346 or $376 on Monday... will you think the "Free Market" decided that whatever it was that day was good or bad?

 

[Krugerrand]

remember the $**6's post?

9/05: high $356 low $346
9/06: pin $346
9/07: rise with bottom at $347
9/08: drop with hold at $345 close $343
9/11: AH close $365
9/12: drop with recovery to $366 close $363
9/13: open $359 close $366
9/14: dramatic morning rise to $376
9/15: close $376
9/18: close $386
9/19: close $376
9/20: swing with late day peak at $376 close $374
9/21: open $376 close $366
9/22: open $366 dramatic drop to $356 close $352
9/25: drop $350 spike $356 close $346
9/26: swings around $346 close $344
9/27: late spike $346 close $341
9/28: morning drop $336 close $337
9/29: $338 - $344 anomaly
10/2: morning swing drop $336 pin $337 AH spike $348 AH close $336
10/3: open $336 dramatic rise to close $348 AH close $350
10/4: dramatic rise $356
10/5: close $356
10/6: open $356 swing $360 close $356
10/9: open drop to $346 close $342 AH close $346
10/10: open $346 dramatic rise all day $356
10/11: close $356
10/12: close $356
10/13: close $356

Next stop $270! Or do you want to change that to $266?

 

[ValueAnalyst]

funny stuff... when this closes at $356 or $346 or $376 on Monday... will you think the "Free Market" decided that whatever it was that day was good or bad?

Flight 666 to HEL took off one last time this Friday the 13th

Joke aside, go to hell Nah - still kidding.

 

[EnzoXYZ]

funny stuff... when this closes at $356 or $346 or $376 on Monday... will you think the "Free Market" decided that whatever it was that day was good or bad?

It's like we think alike as I was about to post all the 3s in 2017!!!! Then giving my kids a bath is more important. Maybe after I'll have a magical chart with channel from $1-400 that TSLA is magically falling within forever!

 

[Oil4AsphaultOnly]

I have no idea how Tesla conducts its annual review. I do know that a number of employees were let go with immediate effect, one of whom reached out to mercury news journalist via twitter a couple days ago resulting in this article.

On the one hand, as a shareholder, I applaud this "right-sizing". But having been on the chopping block through a number of start-up layoffs, I'm dismayed by this course of action. Especially after reading "Tony"'s comment: Tesla fires hundreds from headquarters, factory

If it was to trim the model S/X work-force in anticipation of alien dreadnaught, then couldn't those employees have been re-trained for other aspects of Tesla? I just feel for those who were fired - justified or not.

 

[TradingInvest]

On the one hand, as a shareholder, I applaud this "right-sizing". But having been on the chopping block through a number of start-up layoffs, I'm dismayed by this course of action. Especially after reading "Tony"'s comment: Tesla fires hundreds from headquarters, factory

If it was to trim the model S/X work-force in anticipation of alien dreadnaught, then couldn't those employees have been re-trained for other aspects of Tesla? I just feel for those who were fired - justified or not.

This is not about right-sizing. It's firing less than 2% of the work force. Most of the dismissals were administrative and sales positions and those positions will be filled by hiring new people. No matter how great a company is, there are always those non-performing people that don't deserve to be on the payroll. Most companies do this, unless it's in a total monopoly situation.

Alien dreadnought is still years out, right now Tesla needs more workers.

 

[geneclean55]

This is not about right-sizing. It's firing less than 2% of the work force. Most of the dismissals were administrative and sales positions and those positions will be filled by hiring new people. No matter how great a company is, there are always those non-performing people that don't deserve to be on the payroll. Most companies do this, unless it's in a total monopoly situation.

Alien dreadnought is still years out, right now Tesla needs more workers.

I agree with your sentiment, but we need to get the numbers right.
It is 400-700 at Fremont (4-7% of employees at Fremont). Additional firings at other Tesla locations occurred if you believe posts on Reddit, Twitter today. So we don't know the total number/percentage.

 

[Oil4AsphaultOnly]

This is not about right-sizing. It's firing less than 2% of the work force. Most of the dismissals were administrative and sales positions and those positions will be filled by hiring new people. No matter how great a company is, there are always those non-performing people that don't deserve to be on the payroll. Most companies do this, unless it's in a total monopoly situation.

Alien dreadnought is still years out, right now Tesla needs more workers.

60 people in one section of the factory isn't "for performance reasons", that's just cover to shut-down an entire department. And in a company as goal-oriented as Tesla, I'm willing to bet that their 2% lowest performing sloths are harder working than 75% of the "workers" at other companies - that's to mean that they're probably still highly performant.

 

[sundaymorning]

VIN #516

Vin 516 at Palo Alto Tesla. • r/teslamotors

 

[mmd]

Some of the comments here are hilarious. "it is good to cut S and X staff". Someday the company will fire everyone, and it will still be good because 'Elon can waive his magic wand to send cars OTA to the customers. A car that never requires any service and runs for a million miles. Who needs workers? It's all an AI simulation.'.

People, are we forgetting that we are talking about an exponential growth company here, the one that will take over all sectors, not just autos? If in doubt, ask Adam. The CEO's favorite buzzword is 'exponential'. It should be hiring lots of people, not firing lots of people.
If these are performance based firing, the hiring process and management must be terrible to have to fire so many from the factory at once right before the ramp to 500k cars in 2018 What is a worse performance than producing 260 pre-production M3s instead of 1630 production M3 in Q3?
What's worse than not delivering EAP in a year instead of 6 months?

So, it took Tesla 4 years to figure out Juan was an underperformer? Got it!
Is it the workers that slowed down M3 production, if the vendors are reporting no to slow demand for parts from Tesla and GF still hasn't ramped up enought to have an output worthy of a tweet? Check.

Tesla said the performance-based departures were not considered layoffs and not subject to state notifications.

What a brilliant excuse to hide the number of layoffs.

The clean energy company — maker of luxury electric vehicles, battery storage and solar roofs — has failed to post an annual profit even as its stock has soared on promises of revolutionary products. About 450,000 customers have placed $1,000 deposits for the Model 3.

I'm having serious doubt about the 450,000 number. The company is not showing any sign of gearing up to that level of production.