Elon Musk Trying to Destroy Tesla

Monday, 10 Sep, 2018

The reasons include an infamous tweet in which the businessman said he was taking Tesla private and had funding lined up - a statement he later backtracked amid an uproar - and disparaging remarks about a Briton who helped save boys trapped in a cave in Thailand.

Oh, and they also smoked a blunt together and threw back some whiskey!

"I think I had one once", Mr. Musk said.

With Musk's questionable behavior persisting, an analysis from Consumer Edge states that Tesla "needs to entertain a major change in the C-Suite" in order to regain stability, MarketWatch reports.

Even before Musk's surprise August 7 tweet that he had funding "secured" for a go-private deal, Tesla had been under scrutiny from investors, analysts and short-sellers as it works to hit production targets and slow its cash burn.

The online incident follows turmoil at Tesla Inc. this week as the news that two senior executives have made a decision to leave the electric-car making company.

We got to see just that, a spike and a drop in just a few days, all from the possibly illegal Elon Musk Tweet that was posted exactly a month ago today. "I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting".

But a large portion of that gravitational potential energy could be recaptured and harvested on the descent, Musk said. He took leave from the company in 2015 but rejoined to work on the Semi truck revealed in November of past year. Over the past year, the company burned through roughly $2.4 billion of cash, with interest expense totaling $577 million, according to the research firm CreditSights.

The Tesla's chief accounting officer, Dave Morton, resigned Tuesday after only a month on the job. Marijuana is legal in California, where the interview took place.

Musk has found himself at the center of a lot of buzz in recent months, including some questions about whether he's been using drugs - legal or illicit - and he may have provided the answer himself during a Thursday night podcast by comedian Joe Rogan. In an email to Buzzfeed earlier this week, Musk repeated his totally unsubstantiated accusations of pedophilia against British cave diver Vernon Unsworth (Unsworth's lawyer calls Musk's comments "vile and false" and vowed to sue Musk for libel).

After Tesla's stock plunged, it declined further after Gabrielle Toledano, the head of human resources who's been on a leave of absence, told Bloomberg News that she won't rejoin the company. But in an unexpected turn this week, Musk revived the dispute, this time referring to Unsworth as a "child rapist", and urging him to sue.

The turnover among top executives should concern investors who wanted more stability at Tesla, said John Wilson, head of research and corporate governance at Cornerstone Capital Group.