Well, let’s see if I can get you to reverse your downvote, or simply amass more such.
Yes, I most certainly am serious. I cannot abide someone who is a weasel with his words. Who dissembles. Who tergiversates (look those up if you have to).
I parsed out what is irresponsible in that statement; I can do it again:
We are starting to get to the point where, once known bugs are fixed, it will take over a year of driving to get even one intervention
So: what does the statement say of where we are?
- We’re not AT the point.
- We’re not even getting to the point.
What point? The point that,
- IF bugs are fixed, we’ll have a good product.
This is some 7 1/2 years after proclaiming reaching by year’s end (end 2017) US coast-to-coast self-driving without interventions.
In retrospect, that was a mistake. A rather large one, yet one that I and many - most, I am sure - accepted and forgave.
But a man who does not learn from his mistakes, but repeats and repeats and repeats what is effectively the same mistake is someone whose word means nothing. Who cannot be trusted.
A man who did not get my vote for an enormous incentive - by far the largest in nominal terms in the history of the world, and very likely in real terms as well - and who will not get my vote again this month.
Someone who does not belong at the helm of this critical company.
I long ago proclaimed myself as a long-term investor; I have tried to make this thread focused on same, rather than one for traders or for those who make use of derivative products.
I will today clarify that. I do not consider TSLA a “long term” holding, rather, I have set it up in our investment trust to be a
multi-generational one. Just as one side of my family, those who over two centuries ago created the glass industry in Pittsburgh, “always” had PPG in the family, and another side held Std. Oil and its progeny as multigenerational investments.
As such, that Elon Musk presently is the company’s CEO is of fleeting consequence. There WILL be a time when he no longer is CEO, nor retired, nor even alive. He WILL be followed by others.
This misstatement - this series of misstatements - is serious but it is not the gravest he has made concerning Tesla. For me, that was his announcement that he needed to be ==
given== enough shares for him to own 25% of the outstanding.
Not that he would have clearance to
purchase them to achieve the same goal, but that, in the purest distillation, to be gifted them.
To have made this statement after he not only earlier - 2015? - proclaimed “I will be the last one out”; after on Jan 4 2017 at the Gigafactory told a group of Wall St. professionals, including me, “You have nothing to worry about my selling any shares, at least not until I need to fund Mars colonization“; and then after selling shares - chasing the market downward as he funded his TWTR purchase - boggles any investor’s imagination.
Having voted “No” for his 2018 incentive package - for reasons I have laid out in an earlier, recent, post - makes it that much easier to overcome my distaste for the Delaware court’s ruling and its overreach of (other) investors -
other shareholders!, and once again vote No.
Summarizing:
Mr Musk will not head this company for the entire time I - with my descendants - expect to be owning the handsome position I have built in what I consider to be the ascendant corporation of our time. He no longer has my vote of confidence and I would be happy to see his replacement at the helm, sooner rather than later.
