(copied the lead on yesterday’s comment)
This agreement spans a decade BTW, not next year’s paycheck, $90,000,000/yr. Obscene? Yes, but here’s the rub…
The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion…
You’ve got to be fucking kidding me. Is that an actual expectation or is it, “Fuck him, won’t have to pay.”?
“Tell you what Elon, push the company to the most valuable of all time and by a monstrous margin, we’ll pay ya. 10 years buddy! You’re on the clock!”
Even NVIDIA, the most wildly overvalued company in history is “only” at 5-trillion, and that’s a bubble. I know it. You know it. They know it.
The compensation package also includes a set of production goals, including one million Robotaxis in commercial operation and the delivery of one million humanoid robots over the next 10 years, according to the securities filing.
One million Robotaxies?! A cursory Google search shows Waymo with a paltry 2,000 in operation. Another quick search shows 393,400 taxi and shuttle drivers in the entire United States. I know, there’s a whole 'nother world out there, but Europe is not going for Elon’s death traps. Other countries? Dunno. Also note, that’s one million in operation, not parked at your local mall like excess Cybertrucks.
One million humanoid robots?! And who is going to be buying these and for what purpose? Sure, some rich people will get a few on a lark, just a toy, but no way these things become cheap and useful enough for mass deployment in a decade. Again, sold and delivered, not merely manufactured.
In my opinion, the AI bubble is going to pop and we’ll be in worse shape than the Great Depression, at best this will be the worst economy any of us have ever lived. (Look up the “Buffett Index”.) Who is going to be paying taxi fares and buying robots?! With what money?
That’s just three of the goals he must meet, who knows what else is in there. Bet there are clauses concerning TSLA stock price, another bubble. Knowing his track record on delivery, think any of this pans out? It’s almost like the board is making fun of him. “You go genius boy! We know you can do it!”
So yeah, if he manages to hit these terms in a decade, he deserves $1T, no shit. Anybody want to give me a cool trillion if I can manage to eat a whole skyscraper in the next decade?
Obviously it’s not unpopular or it wouldn’t have been approved. They have a Feduciary Duty™ to make the most fiscally responsible choices.
Kinda hilarious the board said, “You pull this insane stunt off, multiple insane stunts, we’ll give you insane money.” So I guess this was a fiscally responsible choice?