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Elon Musk smokes pot as Tesla shares plunge
[Image: DmegPoCXsAEhMww.jpg]


Quote:The turmoil at Tesla reached a fever pitch Friday, as news emerged that two senior executives will leave Elon Musk’s electric-car maker a matter of hours after he smoked marijuana during an hours-long interview with a comedian.

Chief Accounting Officer Dave Morton gave notice Tuesday that he was resigning less than a month into the job, according to a filing. Tesla’s stock plunged, then extended declines 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.


Morton, a former CFO for computer-drive maker Seagate Technology Plc, joined Tesla one day before Musk tweeted that he was considering buying out some investors at US$420 a share and taking the company private. The CEO abandoned that effort 17 days later, and in the process drew a subpoena from the Securities and Exchange Commission and a series of lawsuits alleging market manipulation.

I thought it sure looked like Elon was manipulating the market with his continued BS. He claims he isn't a regular smoker .. I'd say he doesn't need it
It's sad to watch. The man is brilliant and he is making a real positive difference in the world. That's a lot more than most of those guys with big money can say. I'm finding it hard to watch Elon Musk's downfall. I find it quite tragic. I hope he is able to get the help he needs and turn things around.

He could have easily bought himself an island and lived very comfortably for the rest of his life, a long time ago. I truly think that what he is currently doing is rooted in making the world a better place. I wish the man nothing but success and happiness.
You are grasping at straws. ARSt is not the gold standard for tech journalism.

So what if Elon smokes cannabis - in private? It's no big deal. The greatest minds have used it with no more bad effect than drinking alcohol. And cannabis has use as medicine - unlike alcohol.

That Musk did it in public on a podcast shows his recent bad judgement calls - he is doing stupid things that affects public perception and his company negatively.
(09-08-2018, 02:20 PM)gstanford Wrote: The real question is why do people take social media so seriously?  It wasn't meant to be taken seriously when social media was getting started.

I agree, so what if he does or doesn't smoke?

He has still achieved more in business than most other business people could even fantasize about.

People resent him for that.  Tear down the tall poppy.  Plus he has taken on the oil and traditional automotive industry and made them look like the dinosaurs that they are.  He has plenty of enemies ready to tear him down at every turn.

I take social media seriously.  And I sense trends and get ideas from it for my reviews.  However, I don't take the trolls' opinions as anything but trash (the negative asses - about 1/3rd of society - who contribute nothing useful but their brain-damaged, skewed, and angry negative opinions).

It doesn't matter if Musk uses cannabis IMO - or not.  But he has used Bad Judgement recently with his comments calling a rescue diver a pedophile, and his obvious manipulation of stock with his public comments to take Tesla private.  This affects his company and the people who work for him.  Tesla is dependent on Musk's leadership.  I would think that if Musk became incapacitated, Tesla would be in for some hard times - in contrast, Nvidia would continue and grow if Jensen was somehow unable to continue as CEO.

Can you imagine Jensen smoking weed in a public interview?  I can't - or any other sane CEO who is not involved with the cannabis industry. Elon Musk has handed his enemies ammunition to damage his reputation and by association, his companies. And now he may be investigated by the US government as he is forbidden to use cannabis as a supplier for the SpaceX program. Bad judgement.
(09-08-2018, 02:50 PM)gstanford Wrote: The pedo comment was a bit stupid, the taking Tesla private was him shorting the shorters, something they richly deserved.

anyway, I'd need to see the pedo comment again to really judge it properly.  If he wrote it as Tesla CEO and therefore as representative of what Tesla thinks, then that is bad.  If it was just him and his private opinion then it has nothing to do with Tesla and can't impact it.

Companies do exist as legal entities in their own right and it is stupid to attribute owners comments to them unless the owner is specifically commenting on behalf of the company.

Elon Must *is* the CEO of Tesla - a publicly trade company that is not private - and he its primary spokesperson - he is in a position of responsibility much greater than most businessmen. By association, his company is judged by his leadership including his personal comments which are hard to separate from "official" statements.

Elon Musk has handed his many enemies free ammunition to damage his reputation and by association, his companies. And now he may be investigated by the US government as he is forbidden to use cannabis as a supplier for the SpaceX program. All of this is a sign of recent bad judgement. It is worrying for investors.
(09-08-2018, 03:03 PM)gstanford Wrote: If you aren't explicitly speaking as CEO your comments should not be interpreted that way.

This modern day bullshit of being a company spokesman/ambassador even in your time off needs to be struck down and removed from the lawbooks world wide (it applies to more than just ceo's).

That said, his social media habits are a little unfortunate and he should probably refrain until he can control himself better there.

Quote:All of this is a sign of recent bad judgement. It is worrying for investors.
I disagree.  The botched automation attempt and the need to build the tent so workers could do what the robots couldn't is what should worry investors, not twitter tantrums.  And I'm sure that will be sorted with time too.

"Should not be" is not the reality of the situation of what "is"

The fact of the matter is that Musk's recent actions have damaged his company - Tesla lost solidly in the stock market - and spooked investors; and got the US government to investigate - which is never good since Musk has enemies. That is evidence of his recent bad judgement and there is no way around it.

If you disagree, buy Tesla stock - it would be a bargain now if you believe there is no damage and it will be "sorted with time".
(09-08-2018, 03:14 PM)gstanford Wrote: Outside of my superannuation plan I have no investments in any companies stocks whatsoever and never have had any and have no intention of having any in the future.

Neither do I but whether we invest or not is beside the point that Elon's social media habits have damaged his reputation and Tesla's stock by association - and inviting the US Government to investigate when he has real enemies are not signs of good judgement.
(09-08-2018, 03:23 PM)gstanford Wrote: The Government investigation will come to nothing.  SpaceX is run day to day by Gwynn Shotwell, not Musk.

The government would be fools to not use falcon over this and keep paying Old Space their extortion money instead and Musk has more than enough business to keep falcon/heavy well and truly overworked until BFR gets here without needing to bow to the government anymore.

Musk's reputation is his own to damage.

he isn't damaging Tesla if he isn't explicitly speaking for them at the time.  They will survive this and prosper, the road just got a little longer is all.

I am agreed with what you said that I emphasized

Elon has recently damaged his own reputation and has made the road for his companies longer and more difficult .. that IS bad judgement in my book
(09-08-2018, 03:33 PM)gstanford Wrote: Only Tesla.  

"Only" a 50 billion dollar company was damaged by Elon's bad judgement?
(09-08-2018, 03:53 PM)gstanford Wrote: Its not $50 billion until it is sitting in a bank account ready to be drawn upon.  Its just a valuation.  Valuations fluctuate.

Musk is pretty much an angel if you compare him to famous CEO's of the past.  Thomas Edison and Henry Ford spring instantly to mind amongst many others.

Tesla is worth a lot of money ... and it's stock fell by over 7% yesterday because of Musk's bad judgement. Try to minimize it all you want

Thomas Edison was an a$$hole as a ruthless businessman and a jerk in his personal life. Henry Ford was possibly worse. But they didn't have to deal with social media and getting drunk in public would only be reported by the yellow press of their days - which could be bought off easily.

In contrast with other famous CEOs of the past, Musk's reputation up-till-yesterday was decent. He just armed his enemies for no reason .. other than his using bad judgement.

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