Economy

Elon Musk's Tesla tumbles as two execs announce exit

Elon Musk's Tesla tumbles as two execs announce exit

Musk admitted on "The Joe Rogan Experience" that running a company like Tesla is intense and tricky, saying, "It's very hard to keep a vehicle company alive".

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

"Is that a joint or is that a cigar?" asked Musk, as Rogan explained it was a mix of marijuana and tobacco.

Musk said Tesla is about to build and deliver more than twice as many cars as it did last quarter, without being specific about whether the company would accomplish this feat in the third or fourth quarter.

"Assuming that the South African-born businessman would not accept, the podcast host asked: "'You probably can't do this because of stockholders, right?"

Musk said he is less anxious about AI than he had been, mostly due to "taking a more fatalistic attitude".

Musk caused jitters for shareholders last month when he announced, out of the blue, that he was planning to make the company private, before backtracking and saying it would remain public.

The blog posted to the company's website from CEO Elon Musk Friday announced that the company has appointed Jerome Guillen President of Automotive.

At this point, you have either made your peace with it and want to let Tesla's genius just be himself; or you've been wondering how on earth (that giant, lightly crusted ball of lava) the stock price has defied the onslaught of missed targets, tantrums, the tent, Pedo-Gate, and the take-private-yeah?-nah fiasco.

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Morton, who is walking away from a $350,000 base salary and a $10 million new-hire stock grant that would vest over four years, said he believed "strongly" in Tesla and that he had no disagreements with the company's leadership or its financial reporting.

The auto company has struggled to scale up production of its Model 3 sedan, which has been hit by a number of delays, intensifying the pressure on Musk.

Along with his electric auto company, Musk heads up space exploration firm Space X, tunnel construction firm The Boring Company, and Neuralink, which works on augmenting human brains with artificial intelligence.

Meanwhile, its chief people officer Gaby Toledano had decided not to return to the firm after a period of absence, according to newswire Bloomberg.

Shares came under pressure at the opening following the Musk online interview and news that chief accounting officer Dave Morton was leaving only a month on the job, citing the company's frenetic pace.

Earlier this week, Musk doubled down on an incendiary allegation against a British cave explorer who helped save 12 boys trapped in a flooded cavern in Thailand this summer.

The blunt usage began near the end of the interview when Rogan produced it and Musk responded by asking, "I mean, it's legal, right?"

Tesla representatives were not immediately available for comment Friday morning.

During the interview, the pair discussed Musk's ability to dream up ideas and inventions, with the billionaire comparing the way his brain works to a "mutation", saying when he was a child he thought he was "insane".


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