Huffington Intervenes, Tells Musk to Change His Way of Working
Tesla’s (NASDAQ:TSLA) CEO Elon Musk, responding to Uber Technologies Inc. board member Arianna Huffington urging him to change the way he works, ruled out taking a different approach.
Mr, Musk responded, “Ford and Tesla are the only 2 American car companies to avoid bankruptcy. I just got home from the factory. You think this is an option. It is not.”
Mr. Musk seems to be signaling that he knows that his EV company is headed for bankruptcy, and he is working late hours to save it.
An open letter from Ms. Huffington to Mr. Musk accused him of “demonstrating a wildly outdated, anti-scientific and horribly inefficient way of using human energy,” adding in a Tweet that the Tesla founder should change the way he works. It follows an interview with the NY-T’s last week, in which Mr. Musk tearfully said that he sacrificed family milestones in the race to meet Tesla production targets.
Tesla shares dove 9% on Friday after the interview with the NY-t’s in which he described the past 12 months as “the most difficult and painful year of my career.”
References to Ambien, an Rx sleeping medicine, use and Tweeting while driving are prompting calls for Tesla’s board to step up its oversight of the company’s CEO and largest shareholder.
Mr. Musk sparked the ‘420’ controversy by Tweeting on 7 August that he had “funding secured” to take Tesla private. He later said that meeting with Saudi Arabia’s PIF (sovereign wealth fund) had given him “confidence to announce the news”. The company later received a subpoena from the US Securities and Exchange Commission (SEC) over the Tweet.
Ms. Huffington’s intervention comes at a time when she has been campaigning in support of the benefits of sleep. Her description accompanying the open letter describes her as a “flat shoe advocate and sleep evangelist.”
HeffX-LTN’s Technical Outlook for Tesla’s Share Price is Neutral to Bearish.
Have a terrific week
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