jschwefel
Tesla fan/TSLA, Model Y and Cybertruck owner.
In Drew’s own words…”I made the difficult decision to move on from Tesla after 18 years yesterday.”#1 I thought about posting these layoff rumors this weekend, but hoped someone else would as I am paid off by Bloomberg and Reuters.
Not surprisingly, no one posted anything. People are totally fine with posting bullish rumors, but everyone afraid to post not so nice rumors. That is a danger of making this place an echochamber.
#2 Anyone with a lick of common sense could tell you Baglino and Patel were fired. There are no coincidences in these events.
#3 Layoffs in a stagnant company are fine, but for Tesla this means something different as the company is valued on big future expected growth. The layoffs are a signal that demand are margins aren't coming back anytime soon. This gives more uncertainty as to what automotive margins will stabilize to, and less certainty to big investors for how much to value the company.
#4 Drew being fired may indicate 4680 progress is still stalled.
On the bright side, obviously layoffs can help reduce costs and assuming production isn't cut too much, would mean higher earnings.
This sure doesn’t sound like he was fired.