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1 trillion dollars divided by 8 billion humans could pay each and everyone if us 125 dollars, which would go a long way in poor regions.
Or, framed differently: Tesla stole 125 dollars from every human alive to give it to Elon Musk.
I hope an economist can come in here and correct me if so got anything wrong.
I sort of understand money as a manner of storage. It a battery for potential influence of other humans. Like a note with I.O.U depicting that someone’s future behavior is to provide some good or service to you, that note is a battery for influencing someone’s behavior (the behavior of providing that good or service). Money is just slightly more abstract than an I.O.U because money isn’t tethered to a specific provider, recipient, good or service. Yet, the logic remains.
We’ve as a society accepted this use of money, being a battery to influence us, by manner of participating in the game it invokes for us. We work to earn money, and we use that money to buy that which we need or want. Goods and services are provided by others in aim of receiving the money we worked for. On the macro scale, we refer to these exchanges as the economy. Both: goods and services reading themselves for the potential to receive money, as well as the exchange itself when transactions are made. Each are conduits for money to flow, and the idea works for us humans.
But the manner in which we’ve structured and regulated this process has yielded a system which is vulnerable. Our manner has created a class divide where the successful may use their success to hoard and prevent others from obtaining the same success. We’ve fallen into yet another type of society where hierarchy exists, alike slave-master. Now, less obviously, we are in a society where the rich control the poor. The rich influence legislation to control the incentives of the poor, by legal coercion (e.g., non-competes, hiding free tax filing options, zoning laws inflating housing costs). All the while influencing legislation to provide corporate loopholes and tax cuts.
This cycle is one which can become self-perpetuating. As the rich become richer, they have more power to make themselves yet richer. The class divide widens. The poorer are stripped evermore of their voice in the matter. Yet, let’s remember where this economy thing began — it was a tool for our exchange. Our tool, now exploited for their gain.
So when you say they stole $125 from everyone, I agree with you. We are on the exact same page there.
The different framing is a weird take, that’s not how this works. He’s an asshole and this is insane, but that’s just not how this works.
It is though. The technology to build anything in today’s world, including Teslas, is built on the foundation of all prior human labor and innovation. Nobody ever builds anything “from scratch,” and therefore nobody can claim sole ownership over any invention. Capitalists just use force to steal the product of all of that for themselves.
In the grand scheme of things, thats how it works.
Headline is a bit misleading. He has 10 years to meet a list of requirements to get the pay package.
I actually don’t think he can do it.
He has to sell 1mil humanoid robots, get 12mil robo taxies in the street, and get Tesla’s market cap to $8trillion.
I don’t think he can do the last one. They are at 1 trillion now. NVIDIA has the highest market cap at like 4 trillion.
He doesn’t need to do it, he’ll just lie about it as he always lies about literally everything.
Without his lying he would be a nobody as he has no discernable skill beyond lying his ass off and selling people fantasies
1 million Tesla robots? I’ve seen student projects that are more impressive than that shit theyve presented and half of it was faked because they couldn’t event et anything basic done. Compare those Tesla robots to Boston dynamics and you’d die from laughter
12 million robo taxis? Tesla still doesn’t have full self driving that can get a Tesla off a parking lot yet he claims they can cruise cross country through the US without help. Uh huh…
And who forgot how we set foot on Mars in 2018? What a wonderful time that was.
What if he gets the government to buy it all, in a roundabout way to provide services to the populace via the government. The rejig the taxis to mean robo trains and buses that are free for everyone. The robots can staff hospitals, doing menial tasks (cleaning, changing diapers), leaving the more important work for actual humans.
Maybe he was a socialist all along!
He missed every milestone at SpaceX. Stock investors are fucking delusional about autonomous taxis, Waymo has been there for years and it’s not a trillion dollar business.
Humanoid robots is pure wank, unless Tesla pivots to sex dolls.
Of course he can’t. He knows that. This was 100% optics, so he can go down in history as the worlds first trillionaire. It doesn’t matter that it won’t happen, it did on paper, and that’s all these types care about. He can now brag and boast on his newfound success, and insanely, it will work (at least for a while).
Thank fucking god you explained this. I was thinking wtf is wrong with this world and now I understand this is an unreasonable performance comp plan - makes so much more sense and with the damage he’s done to that brand, people like me wouldn’t buy a thing from them. I wouldn’t piss on him if he was on fire.
This stock and company is so propped up on bullshit, it will happen. Even if the board and investors have to buy his bullshit so he can meet these goals. They need it to happen so the stock price keeps going up.
No way he lasts 10 years.
Tesla will be bankrupt in 2 years. They may flog it to keep it moving for a while longer, but it is already too late. It’s brand reputation sucks, nobody is buying them but losers, most people that own one would dump it if anyone would pay a reasonable amount for it, the quality control is notoriously terrible, and as they age, their repair and maintenance issues are going to become very expensive. They won’t recover from any of that. If it wasn’t for the government buying so much unused inventory, they’d be in even worse shape than they are.
Besides, he is one of the most reviled men on the planet. In 10 years, the world is going to be very different. Either it will be ruled by ruthless scum like Musk and Trump, or the other 8 billion people on the planet will do something about the >50 people in the world who are fucking it up for everybody else.
I’m really hoping that a decade from now, Musk, and his psychopathic super villain buddies, won’t be an issue, one way or another.
He won’t be able to do the other things either.
The most difficult part of designing humanoid robots is the AI. Boston Dynamics has been working on it since 1993. You can’t just slap an LLM on it and hope it works. They will also need rigorous safety testing before a new product like this is even allowed to be sold. Not going to happen in 10 years. 20-30 years at least.
Tesla also is incredibly far behind with their self driving cars. Even if they finally get permission to sell robot taxis, the market will already be saturated by other manufacturers. They will be lucky to sell that many.
It will just all go on his list of unaccomplished lies:
They will also need rigorous safety testing before a new product like this is even allowed to be sold.
Sweet summer child …
The United States might let them on the roads, but the rest of market won’t.
12 million vehicles basically guarantees they have to sell overseas, and for Tesla that pretty much means Europe and Australia, which both have more strict vehicle safety standards than the US.
It’s not gonna happen.
This thread is full of summer children
Musk does not need rigorous safety testing for his shit cars, why would he need them for murderous robots?
They will also need rigorous safety testing before a new product like this is even allowed to be sold.
Welcome to the world according to Musk. These things will be out in the wild, mangling people and spontaneously combusting before a safety inspector can get within a mile of Tesla.
It’s not even AI that’s the problem wrt to making humanoid robots, it’s the lack of dexterity of automatons to do even the most basic tasks that most human can do. Even if AI improves, robots that can move like humans is still the hurdle.
http://www.bbc.com/news/articles/cgm2jed7xvyo
No. Not really.
Definitely, the small and powerful motors it requires don’t exist yet. Every robot until then will move more slowly and fluently than a human
But they don’t need them to in order to sell them. They do need the AI to be smart enough not to kill the humans it works with.
I like how they insist on giving him more money when the reason Tesla sales plummeted is Musk spewing Nazi BS everywhere.
I wish spacex would hurry up and send elon on a one way trip to Mars.
I can also run a successful business into the ground, and I would do it for a lot less money.
Edit
I saw a meme earlier and adapted it from billions to trillions. It is a literally unimaginable number.
How Much Is A Trillion?
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1 million seconds = about 12 days
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1 billion seconds = about 32 years
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1 trillion seconds = about 31,710 years. This long ago was the beginning of the last ice age, and before the invention of rope.
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1 million minutes ago was approximately 2 years ago
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1 billion minutes ago was the year 114 AD,
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1 trillion minutes was 1.9 million years ago, the time of the earliest known homo erectus fossils, distant ancestors of modern humans.
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1 million hours ago it was the dawn of the 20th century (1901)
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1 billion hours ago was 114k years ago, the time when neanderthals first began using seashells as personal decorations. The Sahara desert is a marshland.
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1 trillion hours ago was 114.2 million years ago, the Cretaceous period, time of dinosaurs like the Stegosaurus and Triceratops, and the time when bees first evolved. Humans would not evolve for hundreds of millions more years.
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1 million days ago it was about 700BC, Rome was a small village and writing had only just begun to spread.
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1 billion days ago was 2.7 million years BC. If all the time since then were compressed to one year, all of recorded history would be just a couple of hours.
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1 trillion days ago was 2.7 billion years BC, and the only life on earth were single-cell organisms. Pangaea did not exist yet.
The entire universe is only 13.8 billion years old, so 1 trillion weeks ago is older than reality itself. That’s how much money Musk was just paid for destroying Tesla.
Those bees won’t shut up about it either
Just physically having 1 billion dollars would take up the majority of a room, stacked up as a solid mass of $100 bills. It’s physically impossible to have 100 billion dollars in the same place, let alone 1 trillion.
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This dude is straight Bernie Madoff on a global scale.
The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion, a figure that exceeds the current combined market values of Meta, Microsoft and Google-parent Alphabet, the filing says.
OK, so not going to happen. This is just bullshit to suck oxygen away from the dumpster fire that is Tesla sales figures.
As I understand it, the fine print allows the board to wave a lot of the requirements and award a large part of the pay package anyway. And since the board is entirely under Musk’s control, that’s pretty much guaranteed to happen.
Maybe not the whole trillion, but some of the lower tranches aren’t going to be too hard to meet and are still with a shitload.
dumpster fire
So a typical day for a cybertruck
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Tesla is still one of the smallest car companies by actual amount of produced goods and their values
But the stock is a religious cult. Frankly, cults are a way to make good steady money, ask the Mormons.
Ask L. Ron “I’d like to start a religion. That’s where the money is.” Hubbard
They do bring in the bucks and that’s how it all works right now.
This will come in handy when he’s arrested and we use his wealth to cure poverty, homelessness, and hunger around the globe.
What’s worth more to our species survival?
One ketamine addicted pants wetting Botox infused South African Nazi with a fragile ego…
Or…
The entire world going to sleep with a roof over their head, a full stomach, and a chance at a better life.
Take as long as you need.
His wealth only exists because his companies are way over valued. If he’s being arrested, those companies have likely already failed and his wealth with them.
If you see a trillionaire there is only one moral thing to do, and its not even close
putin is likely the only true trillionaire out there that is not entirely in investments.
Don’t discount the Saudis. They don’t have wealth, they have a wealth faucet.
Ask the French, they have a good example from 1792.
Agreed. This is economic cancer and must be removed. Arrest him … seize the wealth.
I don’t normally encourage some acts.
We have a chance to set a great precedent here.
note that the tesla car company and shareholders could’ve just ended poverty and homelessness themselves but didn’t.
also he’s the biggest shareholder so that’s neat.deleted by creator
Most overpaid “worker” ever.
It’s interesting to note that given the evidence of Elon, that being a CEO is a part time job. It has to be. It’s impossible for Elon to work 40 hours a week at 6 companies.
And I’ve always been told by the people that excuse outrageously out-of-step executive pay with this bullshit narrative about how they are the best and the brightest (just like top athletes, don’t you know!), and they work long hours, probably more than anyone else at the company and other such hilarious fictions. They are basically the Michael Jordans of capitalism, yadda yadda.
This guy cannot be working even 40 hours at all six of his companies. That’s simply impossible, even if he never slept.
He claims to work 100 hours per week, but that’s still less than 20 hours per company.
100%. Even if true, it’s 16.7 hours if he divides it up evenly between 6 companies. Which is about two eight-hour days.
Also, does anyone really think that working 14.3 hours, 7 days a week, is sustainable? I don’t believe he’s working 100 hours a week.
Anyway, the more that a certain type of person lionizes Elon as the pinnacle of American-style capitalism, the more they are actually doing quite a lot to tear down their bullshit narratives they’ve worked so hard for decades to build about executive pay.
Most of us probably knew quite well it was nonsense, probably even saw examples in our lives of people in the C-suite who were quite full of themselves and how “hard” they “work”, while taking quite a bit of the credit and almost all of the profits. Oh, and if they fail, these self-styled heroes don’t go down with the ship like mere hoi polloi heroes. Oh no, these heroes of capitalism will parachute out and land on gigantic piles of cash as a result of failing. But we were told these people are like top athletes and put in so much hours of intense visionary work, at a pace few other humans could ever do, and so they deserve all this cushy treatment.
With Elon, the math is just self-evident. Being an executive, in one of the most successful cases, is most definitely a part-time job.
For what? Running his company into the ground?
Pfft… I’d do it for, like, half that.
The con artist/market manipulator is betting on a WW3 economy while stirring the pot to create that market.
Elon’s got quite tricep workout figured out.
Better train his neck muscles if he wants to stand a chance.
So over ten years Musk is getting about 3% of the entire US GDP for 2024!
ONE MAN receives just above 3% of GDP! AFAIK that’s about the combined value of the productivity of 5 million people for a whole year!
I don’t get how it’s even possible for Tesla to pay him that much? And it’s absolutely insane that stockholders think he should be paid that much?!They basically print money by issuing stock, then compensating with that stock.
To add to that, billionaires avoid taxes by borrowing against their astronomical securities and stock assets. This is one of the reasons interest rates are of such concern to the rich.
They can then use dividends and other liquid income to perpetually pay for the interest. If shit hits the fan, or they want to pay off the loan, then they would have to pay taxes on the income from the sale of assets.
But if you have a trillion fucking dollars in stock, paying tax on several billion dollars isn’t comparably bad, especially when you can purchase influence by manipulating society with your own social media company and inducing corruption by getting Trump elected.
Ummm dude that’s not how that works.
No money gets created.
All existing share holders get diluted. The shareholders are paying Musk if this happens. When he gets a paid a tranche, the stock price will dip because of the dilution.
Edit: like if Musk magically met all the tranches on the last day, and Tesla was worth 8.5 trillion. It’s not going to suddenly be worth 9.5 trillion the next day. The price will go down.
It may be their plan, but I think that stock is already on shaky ground. Tesla car sales are declining and they are probably running on deficits now, and energy projects are not going anywhere fast.
The moronic Optimus robot Tesla plans to make is already surpassed by Xpeng, with way more convincing presentation of their humanoid robot Iron, and where Xpeng uses in-house chips something Tesla doesn’t have. And robotaxi is an obvious flop that is also going nowhere. Everything Tesla is falling more and more behind.How that stock hasn’t already collapsed IDK.
Oh sure, the stock price is shaky because Musk is a Nazi and people recognize it, as well as their products not at all living up to the hype, and Musk doing things like only using cameras for any self driving.
The Musk compensation package itself won’t effect the stock price, though, unless you count it as “throw it on the pile of injustice”.
The Musk compensation package itself won’t effect the stock price
Maybe not as long as it’s just a piece of paper, but as soon as this compensation begin to actually have to get paid, you can bet it will have an impact.
I sincerely hope the Norwegian fun pulls out, and even if they try to do it slow to not impact the stock value to much to get as much out as possible, there is no way you can put 5% of the stock back to the market without it having an impact.seems like thats why hes doing it, because norway has the 1trillion fund lying around.
It’s not in the market, though. It’s in Musk’s account, and that’s where it’ll stay (for the most part). Especially options.
Doesn’t matter, when the stock is registered it’s diluted, and will impact the numbers in earnings per share, and the total stock value of the company.
You can’t just issue stock, to increase the value of the company, the stock price will always go down when you issue a significant amount of stock.
American protectionism by banning Chinese EVs is how their stock stays up.
There’s a fair amount of EVs on the market in the US that aren’t Tesla’s or Chinese. It’s a market segment growing every year.
that doesnt include overprice ones from the eu, like bmw/mercedes
Kia, Nissan, and Hyundai all make EVs you can buy in the US. So do Rivian, Ford, and Chevy. There’s probably more that I’m forgetting.
Oooo, that’s gonna tank the value of the stock.
No, because Musk isn’t going to sell the stock (or exercise the options). He’s going to take out loans using the stock as collateral, and then pay those loans off with future loans.
Only plebs actually spend their own money.
It will still be a big dilution of the stock. Which will put very hard pressure on the stock price.
There is no way to dilute that much without it having a significant impact.It only dilutes the price if the stock gets sold.
What does get diluted is the dollar.
No,
The full compensation would only be delivered if Musk vaults the company from its present value of $1.1 trillion to $8.5 trillion, a figure that exceeds the current combined market values of Meta, Microsoft and Google-parent Alphabet, the filing says.
The difference between 1 million and 1 billion is about 1 billion. The difference between 1 billion and 1 trillion is about 1 trillion.
That’s about the best way I’ve seen the proportions exemplified.
The BBC had a segment on tonight claiming that a stack of $100 bills reaching 1/3 the distance to the moon is worth $1 trillion.
Sure but 15 percent or more doesn’t exist in reality.
Abject unmitigated balls to the wall madness. There’s absolutely no way that hapless moron can generate in excess of one trillion dollars of value for those shareholders over the next decade, and even if he could no single individual should ever have that amount of wealth.
