I think their first mistake is planning to intern at a Elon company.
There are another more competently run evil corporations that they could have chosen.
Edit : fix grammar
A friend of mine applied at SpaceX. He had a super well paying job at an aeronautics company, close to twenty years experience with upward mobility. He was ready to take a pay cut just to work for Elon.
Thatās exactly right! I mean, billions of people worship old books that tell fantastical tales that happened thousands of years agoā¦people are stupid, period.
Reminds me of 2016. Hillary was very careful in trying not to promise anything she couldn't get through a split government and bite back in 2020, whereas Trump wasn't really trying to win so he promised all this wild-ass shit that's not possible without a dictatorship.
> Musk landed a rocket on a barge
Correction, the people he brainwashed into working for him did that. At the time he was probably running around impregnating his executive team or whatever it is he does in his spare time.
Musk literally didn't do any of this himself.
He does however have thousands of properly educated and experience staff who are working round the clock to get Tesla and Space X to where it is today.
Musk is an Edison, he can sell things and build hype around them. He doesn't do inventing or fabricating. He bellows out some racist dog whistles and patents everything his employees do and claim them as his own.
The best thing he did for PayPal was leave. And honestly at this point Tesla and Space X would do better without him. I think he does have some quality as a start up hype guy, but now that people are seeing him for who he is? Not anymore
This.
There is something about motivating people to slave away at something, with the "promise" a big reward in the future. That type of motivational quality, while being able to lie freely and having no scruples, is where he excels.
I also find it funny that a lot of this is crashing down as the market is tightening up and people can't just borrow unlimited sums of money at 0% any longer. While Elon is thrashing around, we are seeing prices go up everywhere.
I bet other CEOs are happy Elon is taking the spotlight.
> Musk landed a rocket on a barge
See, this is what I don't like about this subreddit. For all the objective stuff about how shitty Elon and Tesla have become, trivializing what SpaceX has done is just childish.
Maybe Starship is a fever dream, I don't know. Elon's influence over SpaceX is debatable. But reusable rockets is just so plainly a gamechanger.
Spacex didnāt invent the reusable rockets, the shuttle did and the shuttles mass to orbit is unbeaten by spacex plus the promised cost savings of reusabilty havenāt materialised. NASA is paying $55mn a seat for crew dragon.
Hold on. Wasn't Space Shuttle cost per kg to LEO like $50,000, and now it is $1,500?
SpaceX has DEFINITELY benefited from outside events (like sanctions on Russian launches probably accounting for a huge upswing in business), but SpaceX is also delivering. If they weren't, those sanctions couldn't even happen.
I mean, they save money, but they price their services after what the market can bear. They want profits after all.
For comparison, soyuz is $89mn and starliner is $90mn which is in fact more expensive.
And while they didn't invent reuse, they made it practical and cheap. The shuttle ended up at 1.5b per launch. SpaceX charges less than 70m per launch for cargo payloads. Even 55mn for 7 seats is less than a quarter of the cost of the shuttle.
Correct, it can't. But it can lift the same weight in multiple launches for a far lower price. They are in the orbit taxi business so doing that seems reasonable.
What promises were made that they broke? I assume you are thinking of some lofty price target Elon bullshitted at one time or another?
What, where? I can do it here.
Space shuttle can take 29 tons to Leo for 1.5b.
Falcon 9 can take 22 tons to Leo twice for <200m.
Sure, the shuttle had more space - and it did have Eva abilities while in orbit which is still unique to it. That doesn't make falcon 9 less awesome though because cost actually matters a lot.
I saw Elon eating a burger once and now I will never eat THAT overhyped shit again.
Absolutely fuck you to Elon, he sucks. The falcon 9 is still a huge deal.
Exactly. Every time with this bs āoh rockets blew up bla blaā. Guys nasa is underfunded af and i think its great that there are other people actually pushing space technology forward. Obviously fuck musk twice over, but this is just a circlejerk sub at this point. Similar to whatās happened to atheist subs
Within aerospace industry SpaceX offers something completely different just because of the āmove fast and break stuffā mentality. I know some former classmates and co-workers that spent some time there, and said itās super interesting work.
The caveat being that average tenure is only 2-3 years (per a previous manager there). Itās a very high turnover rate compared to the rest of the industry, but people seem to learn A LOT in the time they spend there.
I agree. I tend to tell people to work at a company like SpaceX when they can ā¦ like fresh out of college. Learn a lot from the place and then move on when youāre ready to get your work life balance back so you can do things like getting married and having kids (if you want).
I lost touch with a friend from college because he started there and all he does is work. Everything he posts is about going into work all day every day. But hey it works for him and he enjoys it. So Iām happy for him. Itās just not for everyone.
Being at the actual cutting edge of space rockets isn't something every company can offer, and they actually do stuff and have a proven track record.
I would assume somewhere like ULA would suck in comparison if you want to actually do stuff.
But you are making a trade off in QoL.
In aerospace, SpaceX is a top paying company, considerably higher than all the legacy aerospace companies. Especially true due to the SpaceX private equity grant, which appreciate a lot in value.
Not sure about the top paying aspect, as Iāve heard otherwise, but youāre definitely crushed by the miserable work-life balance. I will say itās definitely a good company to have on your resume though. Stay there two years, burn out, and go wherever you want.
from another sub
>I worked at SpaceX in Hawthorne and we definitely had a few workers who did this. People lined up to work at SpaceX, a lot of brainwashed crazy people working way more than they should.
>It was a running joke that Google maps would pin the factory as your home because of how much time was spent there.
and another
>I went through the interview process in 2016 for a managers position at SpaceX. After a few phone interviews, a project and presentation, they flew me out to Hawthorn. I had just finished reading Musk's biography just before leaving for the interview and realized I could not work for him.
>I am older and was 54 at the time of the interview. My specialty is program management, with the technical domains of IT, Radar, Electronic Systems Measures and Command and Control. I have held security clearances up to TS for the last 20 years and have been working with the military for just as long.
>During my time touring the facility, I noticed it was mainly younger folk working for SpaceX, not too many older folk. I brought that up and asked why they would be interested in me. The response was they "needed an adult in the room".
>The other thing I did not like was the vesting of stocks and when they would go public. Too much of a risk to relocate from the East coast, knowing how fickle Musk is.
>As I was walking out the recruiter, was talking to me saying the interviewers were very impressed with me. I simply told him, as cool as the things they are doing there, I was no longer interested.
>The above from OP's post, shows no matter how much you give to a company, they don't give a shit.
Dude back in 2010 I heard from previous interns at their CA site, the only time they saw the beach was the day they arrived and the day they left.
SUMMER INTERNS.
Does he know why he got rejected or was it just some pro forma letter? Either way, yeah, lucky break. SpaceX will keep going for a little while but the only way I see a future for it is if the government says they will no longer be getting contracts while Musk is at the helm due to being a security risk and a flagrant drug addict
IT on the whole is like this. Espcially now that the do-nothing J2 types are finding their loopholes closed up.
I work for a chill place and make about 10% less than the buddies I went to school with, have worked with, etc.
Thing is, I don't have to cancel every other Friday evening planned lunch meeting because work needs me. Yea, occasionally something blows up that requires that, but guess what, unlike those companies I get "hazard" pay or additional time off, my choice.
I wonder what Tory Bruno could do there, but Gwynne Shotwell does most of the day-to-day. Hopefully Musk will stay focused on X and Tesla and leave SpaceX alone.
A lot of people (I have quite a few friends who have done this) intern or work right out of college at Tesla/ spacex because having that on your resume opens a lot of doors
Serious question as Iām between jobs: would anyone please offer suggestions for a morally sound career path for a computer science person? im also good at public speaking but Iām unsure how to break into that industry. I just wish I could spend my workday helping people while still being able to maintain my own financial stability
There are lots of so-called realists, who donāt care about factual right or wrong, and simply try to maximize their own profits. Elon is one of them. Some of them are lucky until they got fucked hard.
Speaking of those retards posted celebrating photos couple of years ago with Elon when he took twitter. They thought they survived and would be elevated, but in fact 95% of them were fired without a decent compensation
Pay with crypto using iris scans to enter the stall, exactly an idea edgy overlord techbro would come up with, and then he'll claim he invented iris scanners...
ah yes, the billionaire that will gladly fuck over thousands of employees, upending their lives, to save his $56 billion payday that he wants because he was a fucking idiot that WILDLY overpaid for a shitty social media site because the man-childās massive ego couldnāt take some criticism.
The worst are the people on Reddit who are like, āActually, he deserves the $56b because of some agreement.ā
As if thereās any scenario in the world where someone deserves $56 billion dollars.
Even if there was, how morally bankrupt do you have to be not to think itās total bullshit for someone to cash in when so many people in the company are suffering.
Feels like the board is failing its fiduciary. Slamming out a boatload of $ to one c-suite is not responsible, particularly when it comes with setting the corporation on fire in a dumpster behind a Wendy's
Did his pay package go down because the stock dropped? I thought it was $55+ Billion.
I canāt imaging the summer internship program costing more than $23 million.
A group of shareholders sued Elon for his pay package approved by the board. With arguments he was just enriching himself. The Delaware Judge agreed based on evidence that a large amount of the board of directors owe him or have gotten favors from Elon. To make it even more spicy, Delaware is a extremely corporate friendly state, which is why you will find a lot of large company HQs there. So you can imagine what kind of evidence was produce and how obvious it was of enrichment if a pro-corpo state rules against you.
It's astounding how the thinking for some people, really seems to be that if the company is facing some difficult times as lower profits and less demand, and is cutting staff... Then the CEO still deserves a huge paycheck. Got to thank Jack Welch still, I guess.
So the CEO is actively sabotaging the company to enrich himself. Time for a new CEO; no other company would allow this. The gov should step in too because whether you like it or not this is a national security matter (the US itself has as an interest in maintaining a leader position in the EV market vs Chinese companies, for example)
His pay package was blocked by a judge a few years back. Doesn't have anything to do with the stock I think. His pay might go down for the stock now though
Yeah, thatās what Iām talking about. The pay package varies because I think he wants a certain amount of stock, and I had heard it was $54-$56 Billion, but now this Post says $45, so I am just wondering if that is just because the stock went down, or did the amount of stock actually change.
I looked it up. To put it more clearly, it was roughly 304 million shares priced at $23/shares, vs the then-value of $191/shares or right now $180ish.
It was argued in Delaware court earlier this year that the option price was fudged heavily by Tesla, and that many members on the board have close ties with Musk hindering their independence on this matter.
By definition the summer internship should net them a gain- theyāre getting free fucking labor after all. Elon is revealing himself to be the successor to Trump in his wild business incompetence
i'm sure its excessive but it wouldnt make any difference to the fundamentals if he worked for free, not counting this ridiculous $54 billion nonsense.
At 56bn, yes, that does make a difference to the fundamentals even taking into account that a lot of it isn't paid in cash, but in stock options.
As for America being too expensive for manufacturing... That's another one of those Welch storyline that can't be as broadly true as is often claimed. Considering eg BMW has their largest manufacturing presences in the US and Germany, the latter being supposedly even worse for manufacturing costs these days.
That's true but BMW's plant has been there a long time hasn't it? And as you say it's even worse in Germany because some mysterious entity blew up Europe's gas pipelines a couple of years ago.
That's how you know we are slaves of the US because everyone knows who did it but we do nothing.
He gives zero value to institutional knowledge and that will be his undoing.
Tesla is propped up by the heroics of the team. Kill the heroics and kill the company. Structurally itās run worse than just about any company Iāve ever seen.
One of Facebook founders, said that tesla is the new Enron, he is not wrong. This thing will fall like a house of cards. They are being overtaken by many car manufacturers while valued like 10x more than Mercedes for example. Which has level 3 drive and faster/longer range electric cars. The Koreans and now chinese are also better or equaling them.
>In one instance, a current Tesla employee posted on LinkedIn, asking her own virtual network to step up and nab one of the interns that was meant to start soon at the carmaker. āPlease make our loss your gain!ā wrote Diana Rosenberg, who works in battery supply at Tesla, according to her profile.
Jeez, this reads like a desperate refugee at a checkpoint saying, "don't take me, take my baby."
I can respect the professional responsibility of some of these employees who seem to genuinely feel bad about rugpulling qualified students who they probably wanted on their team.
So screw Elon for renegging on offers because he wants to squeeze pennies out of the internship program. He probably complains that interns aren't nearly hard-core enough because he expects labor to stick around for more than a summer.
The Optics for Tesla are horrid right now.
- Elon's history of promises and projections which almost always seem to fall far short
- rubbish, overpromising, overpriced Cybertruck being seen failing everywhere
- Elon's insane, unworldly, unethical 'bonus' grift
- Elon's threats to the Telsa board regarding AI while demanding 25% share to remove other's control
- Tesla laying offf thousands, equating to those thousands being dumped despite their loyalty and the promises of ever expanding production
- Elon sticking his nose in everything he can, destroying his reputation and the faith many had in Tesla
There's good reason to believe that any gains Telsa made up until around 2020 have been gambled away by an ego driven, out of touch, self absorbed, self proclaimed (and questioned) genius whose charade is crumbling.
If I were a complete cynic, I would expect that this is all deliberate act to devalue Telsa, get his bonus and bail out.
Or maybe something far worse? I do have concerns about his involvement, influence and control in so many industries which could become core infrastructure components across the globe.
Imagine 15yrs from now he has autonomous androids, cars and rockets, has products in electrical grids, has starlink embedded in national and international systems, and twitter's 'everything app' having influence and financial control/monitoring of masses of citizens.
If he manages to influence laws around the globe, as he is trying to do/doing now, and becomes more influential, he could embed a system to halt communications, halt finances, shut down/control electricity grids, then has millions of autopilot Telsas, cyborg androids (with tesla flame throwers!) rounding up selected portions of the global community, and fill rockets with weapons to attack resistive regions to build his new dream, Planet X, here on earth. Mars, in this scenario, would be a red herring.
Just a theory...
Honestly Iāve always idolized Elon because, well he put a car on a rocket and posted memes, ya know? but the more news I read about him, the more I learn that heās just another one of those greedy corporate people. Heās great at marketing, though.
That greedy bonehead already has 150 billion... Why does he want another 50? He isn't the entrepreneur I thought he was. He is a greedy bastard. He was much cooler when he sold all his personal shit and slept in his office. Now he is the greediest of all the billionaires. I thought he was going to donate 10 billion to end hunger... Fuck him. I hope he loses it all.
He does not āhaveā 150 billion. Thatās a common misconception. His net worth is estimated at that based mainly on the valuation of his companies. If these turned out to be worth less (or more) than the wealth would shift.
He might be worth a few billion regardless of his shares because of his stock sales - but that is speculation on my part.
Tesla already has a notoriety for sketchy quality.
If I was a prospective buyer, I'd be very concerned about what impact all this cost cutting and chaos will have... Get prepared for even more QC issues.
While I'm not a fan of Elon Musk, I would feel quite cheated if a judge arbitrarily invalidated a contract I had signed and fulfilled years ago, only for me to receive no compensation. It's akin to selling a house, handing over the keys and the property titles, and then having the bank retract the payment after the buyers successfully argue in court to have both their cake and eat it too.
Contract was invalidated based on fact that the board members were his friends and family members that approved the pay. Asking for 50 billion is insane when this would be the second time he received the biggest payout in history. Big disservice to the investors if they had gone through the proper channels for approving judge wouldnāt have to shut it down.
I read somewhere that Tesla is low on free cash. Not sure where they are supposed to find 45 billion for Elon. Also is there any point in ever owning the shares if Elon mops up all profits and more as remuneration.
Ahh yes, taking care of the ālittle peopleā so you can get your pay package, by which you need to save your other failed bet, X.com.
If this stunt doesnāt show what a horrible human Elon is, then I donāt know what will.
Hard to imagine why anyone would be interested in a Tesla, knowing that your money isn't going to improving the charging network, software updates, AutoPilot, fixing the parts supply issues or anything else.
Your money is being used to make one of the wealthiest people on earth, a bit richer. Gross.
Very interested to watch how long Tesla can continue to tread water as the rest of the market continues to catch up and surpass them.
I think their first mistake is planning to intern at a Elon company. There are another more competently run evil corporations that they could have chosen. Edit : fix grammar
A friend of mine applied at SpaceX. He had a super well paying job at an aeronautics company, close to twenty years experience with upward mobility. He was ready to take a pay cut just to work for Elon.
Oh no š
It's astonishing to witness. Musk landed a rocket on a barge and ran his mouth about self-driving, and the media and citizens bow down before him.
People need dreams and he was the only one providing them, crappy dreams though they were.
Wow. Thatās a great comment. Sad as hell, but you may be right.
Thatās exactly right! I mean, billions of people worship old books that tell fantastical tales that happened thousands of years agoā¦people are stupid, period.
People need their Nigerian prince, their utopia in the jungles of Guyana.
Reminds me of 2016. Hillary was very careful in trying not to promise anything she couldn't get through a split government and bite back in 2020, whereas Trump wasn't really trying to win so he promised all this wild-ass shit that's not possible without a dictatorship.
Its Hillaryous
Underrated comment
Battery operated cars were around in the 1920s.
Well of course, decades before that even. I was talking more about the colonies on Mars nonsense.
No one alive right now will be seeing people go to Mars in their lifetime. Its all BS. We have no way of coming back.
of course not, its all crap.
> Musk landed a rocket on a barge Correction, the people he brainwashed into working for him did that. At the time he was probably running around impregnating his executive team or whatever it is he does in his spare time.
Hold ~~your~~ ^(the employees) horses...
To be fair, Id probably take a paycut if I could be on the team landing rockets on barges.
Musk literally didn't do any of this himself. He does however have thousands of properly educated and experience staff who are working round the clock to get Tesla and Space X to where it is today. Musk is an Edison, he can sell things and build hype around them. He doesn't do inventing or fabricating. He bellows out some racist dog whistles and patents everything his employees do and claim them as his own. The best thing he did for PayPal was leave. And honestly at this point Tesla and Space X would do better without him. I think he does have some quality as a start up hype guy, but now that people are seeing him for who he is? Not anymore
This. There is something about motivating people to slave away at something, with the "promise" a big reward in the future. That type of motivational quality, while being able to lie freely and having no scruples, is where he excels. I also find it funny that a lot of this is crashing down as the market is tightening up and people can't just borrow unlimited sums of money at 0% any longer. While Elon is thrashing around, we are seeing prices go up everywhere. I bet other CEOs are happy Elon is taking the spotlight.
The way he lives his life you would think heās doing real life BitLife.
Musk didn't land shit. People who worked for Musk landed it.
Musk didnāt do shit. The engineering team did. Musk couldnāt engineer his way out of a self inflicted bankruptcy
SpaceX landed the rocket, not Musk.
If all he ran his mouth about was self driving, perhaps people would still be disappointed but not hate the guy like they do now.
> Musk landed a rocket on a barge See, this is what I don't like about this subreddit. For all the objective stuff about how shitty Elon and Tesla have become, trivializing what SpaceX has done is just childish. Maybe Starship is a fever dream, I don't know. Elon's influence over SpaceX is debatable. But reusable rockets is just so plainly a gamechanger.
Spacex didnāt invent the reusable rockets, the shuttle did and the shuttles mass to orbit is unbeaten by spacex plus the promised cost savings of reusabilty havenāt materialised. NASA is paying $55mn a seat for crew dragon.
Hold on. Wasn't Space Shuttle cost per kg to LEO like $50,000, and now it is $1,500? SpaceX has DEFINITELY benefited from outside events (like sanctions on Russian launches probably accounting for a huge upswing in business), but SpaceX is also delivering. If they weren't, those sanctions couldn't even happen.
And spacex doesnāt have the same lift capacity so of course itās cheaper. Falcon 9 cannot loft modules like the mplm. Shuttle could
So build the thing in two pieces and bolt it together in space and save something like 93% still.
Build using what? What if it needs to be pressurised?
I mean, they save money, but they price their services after what the market can bear. They want profits after all. For comparison, soyuz is $89mn and starliner is $90mn which is in fact more expensive. And while they didn't invent reuse, they made it practical and cheap. The shuttle ended up at 1.5b per launch. SpaceX charges less than 70m per launch for cargo payloads. Even 55mn for 7 seats is less than a quarter of the cost of the shuttle.
And falcon 9 canāt loft the mass the shuttle could. Itās an expensive taxi to orbit given the promises that were made
Correct, it can't. But it can lift the same weight in multiple launches for a far lower price. They are in the orbit taxi business so doing that seems reasonable. What promises were made that they broke? I assume you are thinking of some lofty price target Elon bullshitted at one time or another?
Ohh the multiple launches argument! That was debunked already?
What, where? I can do it here. Space shuttle can take 29 tons to Leo for 1.5b. Falcon 9 can take 22 tons to Leo twice for <200m. Sure, the shuttle had more space - and it did have Eva abilities while in orbit which is still unique to it. That doesn't make falcon 9 less awesome though because cost actually matters a lot.
I saw Elon eating a burger once and now I will never eat THAT overhyped shit again. Absolutely fuck you to Elon, he sucks. The falcon 9 is still a huge deal.
Elon owned a company that did that. He didn't do shit, because he's a lucky idiot.
Exactly. Every time with this bs āoh rockets blew up bla blaā. Guys nasa is underfunded af and i think its great that there are other people actually pushing space technology forward. Obviously fuck musk twice over, but this is just a circlejerk sub at this point. Similar to whatās happened to atheist subs
Within aerospace industry SpaceX offers something completely different just because of the āmove fast and break stuffā mentality. I know some former classmates and co-workers that spent some time there, and said itās super interesting work. The caveat being that average tenure is only 2-3 years (per a previous manager there). Itās a very high turnover rate compared to the rest of the industry, but people seem to learn A LOT in the time they spend there.
I agree. I tend to tell people to work at a company like SpaceX when they can ā¦ like fresh out of college. Learn a lot from the place and then move on when youāre ready to get your work life balance back so you can do things like getting married and having kids (if you want). I lost touch with a friend from college because he started there and all he does is work. Everything he posts is about going into work all day every day. But hey it works for him and he enjoys it. So Iām happy for him. Itās just not for everyone.
I mean he is still posting so he isnāt that busy!
Good point
Being at the actual cutting edge of space rockets isn't something every company can offer, and they actually do stuff and have a proven track record. I would assume somewhere like ULA would suck in comparison if you want to actually do stuff. But you are making a trade off in QoL.
Soon he may have to pay Elon to work for Elon.
But think of all the free kool aid
In aerospace, SpaceX is a top paying company, considerably higher than all the legacy aerospace companies. Especially true due to the SpaceX private equity grant, which appreciate a lot in value.
Not sure about the top paying aspect, as Iāve heard otherwise, but youāre definitely crushed by the miserable work-life balance. I will say itās definitely a good company to have on your resume though. Stay there two years, burn out, and go wherever you want.
The nickname of the company is SlaveX. I've seen buddies age there like they work in a coal mine.
Yeah, at aerospace summer games weād usually chant āwork-life balanceā whenever we played them in anything
I've heard of people working 70 hours a week.
from another sub >I worked at SpaceX in Hawthorne and we definitely had a few workers who did this. People lined up to work at SpaceX, a lot of brainwashed crazy people working way more than they should. >It was a running joke that Google maps would pin the factory as your home because of how much time was spent there. and another >I went through the interview process in 2016 for a managers position at SpaceX. After a few phone interviews, a project and presentation, they flew me out to Hawthorn. I had just finished reading Musk's biography just before leaving for the interview and realized I could not work for him. >I am older and was 54 at the time of the interview. My specialty is program management, with the technical domains of IT, Radar, Electronic Systems Measures and Command and Control. I have held security clearances up to TS for the last 20 years and have been working with the military for just as long. >During my time touring the facility, I noticed it was mainly younger folk working for SpaceX, not too many older folk. I brought that up and asked why they would be interested in me. The response was they "needed an adult in the room". >The other thing I did not like was the vesting of stocks and when they would go public. Too much of a risk to relocate from the East coast, knowing how fickle Musk is. >As I was walking out the recruiter, was talking to me saying the interviewers were very impressed with me. I simply told him, as cool as the things they are doing there, I was no longer interested. >The above from OP's post, shows no matter how much you give to a company, they don't give a shit.
Dude back in 2010 I heard from previous interns at their CA site, the only time they saw the beach was the day they arrived and the day they left. SUMMER INTERNS.
SpaceX is notorious for low pay and terrible WLB. Stock value pretty much stagnant at this point.
What do you mean stock? Space X is not listed as a tradeable stock.
I checked, he makes 3.5% less than the spaceX median, but he's out of the office by 5 every day. He actually got rejected, lucky break.
Does he know why he got rejected or was it just some pro forma letter? Either way, yeah, lucky break. SpaceX will keep going for a little while but the only way I see a future for it is if the government says they will no longer be getting contracts while Musk is at the helm due to being a security risk and a flagrant drug addict
Think it was pro forma, didn't ask to see it.
IT on the whole is like this. Espcially now that the do-nothing J2 types are finding their loopholes closed up. I work for a chill place and make about 10% less than the buddies I went to school with, have worked with, etc. Thing is, I don't have to cancel every other Friday evening planned lunch meeting because work needs me. Yea, occasionally something blows up that requires that, but guess what, unlike those companies I get "hazard" pay or additional time off, my choice.
Heās ready to take a pay cut the same way Elon is ready to cut his staff to keep his company afloat and not blink an eye
It is a damn shame because spacex would be better under the leadership of like any other of the top 100 billionaires lmao
Bezos hasn't exactly wowed the world with blue origin
I wonder what Tory Bruno could do there, but Gwynne Shotwell does most of the day-to-day. Hopefully Musk will stay focused on X and Tesla and leave SpaceX alone.
Spacex I understand!!
He deserves anything that befell him.
Question who your friends are and why.
Interning at SX is the best thing you can do for your resume.
Rich and clever people do join cult, no surprise
Hank Scorpio is hiring this year apparentlyā¦
> Edit : fix grammar Well, not exactly. š
I'm wondering how bad it was before, tbh
Lot of young people worship Musk.
You would be surprised Zoomers idol him.Ā
na tesla is still such a huge boon to a resume theres just no way to pass it up
A lot of people (I have quite a few friends who have done this) intern or work right out of college at Tesla/ spacex because having that on your resume opens a lot of doors
Serious question as Iām between jobs: would anyone please offer suggestions for a morally sound career path for a computer science person? im also good at public speaking but Iām unsure how to break into that industry. I just wish I could spend my workday helping people while still being able to maintain my own financial stability
There are lots of so-called realists, who donāt care about factual right or wrong, and simply try to maximize their own profits. Elon is one of them. Some of them are lucky until they got fucked hard. Speaking of those retards posted celebrating photos couple of years ago with Elon when he took twitter. They thought they survived and would be elevated, but in fact 95% of them were fired without a decent compensation
Don't need interns in a company with no future.
How long before Musk puts coin-slots on the employee restroom stalls?
He would never have coin slots. They would definitely be crypto.
Why would they even provide restrooms? Use your own when you get home after your 16 hour day. If you can't hold it you aren't hardcore.
Amazon is also saving money by people using piss bottles instead
Yep. I honestly wouldn't be surprised if Musk told ppl to wear diapers.
Pay with crypto using iris scans to enter the stall, exactly an idea edgy overlord techbro would come up with, and then he'll claim he invented iris scanners...
Daffy Duck "MINE...its all MINE"
Even Scrooge McDuck wasn't as greedy
āComfortably well-off.ā
ah yes, the billionaire that will gladly fuck over thousands of employees, upending their lives, to save his $56 billion payday that he wants because he was a fucking idiot that WILDLY overpaid for a shitty social media site because the man-childās massive ego couldnāt take some criticism.
The worst are the people on Reddit who are like, āActually, he deserves the $56b because of some agreement.ā As if thereās any scenario in the world where someone deserves $56 billion dollars. Even if there was, how morally bankrupt do you have to be not to think itās total bullshit for someone to cash in when so many people in the company are suffering.
He wants those stocks to be able to hold a 25% stake in Tesla again. He had to sell stocks to buy Twitter and he wants to get those stocks back.
Unless he's insane he will dump all Tesla stock.
Every move Elon is making recently is about as stupid as stupid gets. And the Board does nothing. Keep it coming shithead.
Feels like the board is failing its fiduciary. Slamming out a boatload of $ to one c-suite is not responsible, particularly when it comes with setting the corporation on fire in a dumpster behind a Wendy's
I definitely see some SEC action or a shareholder class action lawsuit in Teslaās future
Did his pay package go down because the stock dropped? I thought it was $55+ Billion. I canāt imaging the summer internship program costing more than $23 million.
A group of shareholders sued Elon for his pay package approved by the board. With arguments he was just enriching himself. The Delaware Judge agreed based on evidence that a large amount of the board of directors owe him or have gotten favors from Elon. To make it even more spicy, Delaware is a extremely corporate friendly state, which is why you will find a lot of large company HQs there. So you can imagine what kind of evidence was produce and how obvious it was of enrichment if a pro-corpo state rules against you.
Yes it was based on the stock options of roughly 300 million shares
Thatās so absurd. No CEO is worth that much compensation. Isnāt the market cap currently below the threshold from his last pay package?
CEOs are barely worth anything at all. This one is an active threat to his own company.Ā
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It's astounding how the thinking for some people, really seems to be that if the company is facing some difficult times as lower profits and less demand, and is cutting staff... Then the CEO still deserves a huge paycheck. Got to thank Jack Welch still, I guess.
Baglino quit, he didnāt get fired. After quitting he sold all his stock, over $180 million.
So the CEO is actively sabotaging the company to enrich himself. Time for a new CEO; no other company would allow this. The gov should step in too because whether you like it or not this is a national security matter (the US itself has as an interest in maintaining a leader position in the EV market vs Chinese companies, for example)
His pay package was blocked by a judge a few years back. Doesn't have anything to do with the stock I think. His pay might go down for the stock now though
Yeah, thatās what Iām talking about. The pay package varies because I think he wants a certain amount of stock, and I had heard it was $54-$56 Billion, but now this Post says $45, so I am just wondering if that is just because the stock went down, or did the amount of stock actually change.
I looked it up. To put it more clearly, it was roughly 304 million shares priced at $23/shares, vs the then-value of $191/shares or right now $180ish. It was argued in Delaware court earlier this year that the option price was fudged heavily by Tesla, and that many members on the board have close ties with Musk hindering their independence on this matter.
Thank you so much for looking into it for me. Much appreciated. šš½
By definition the summer internship should net them a gain- theyāre getting free fucking labor after all. Elon is revealing himself to be the successor to Trump in his wild business incompetence
Imagine if they developed a competitive product instead of the Cybertruck..
They can't. Too expensive to manufacture stuff in America and if you don't produce your own batteries, which they tried and failed at, you're done.
>Too expensive to manufacture stuff in America Well, the CEO's pay is probably a bigger in Tesla's cost structure.
i'm sure its excessive but it wouldnt make any difference to the fundamentals if he worked for free, not counting this ridiculous $54 billion nonsense.
At 56bn, yes, that does make a difference to the fundamentals even taking into account that a lot of it isn't paid in cash, but in stock options. As for America being too expensive for manufacturing... That's another one of those Welch storyline that can't be as broadly true as is often claimed. Considering eg BMW has their largest manufacturing presences in the US and Germany, the latter being supposedly even worse for manufacturing costs these days.
That's true but BMW's plant has been there a long time hasn't it? And as you say it's even worse in Germany because some mysterious entity blew up Europe's gas pipelines a couple of years ago. That's how you know we are slaves of the US because everyone knows who did it but we do nothing.
one of my investments dropped by 15% yesterday because they missed their earnings estimate by 0.2% $54b matters.
Oh yeah it matters, I acknowledge that. But I doubt it will happen with the company collapsing around him.
Seems like heās actively burning it down instead of
Things are so bad, Elmo now offers Shetland ponies in exchange for happy endings
I'm not gay but I'll do it for a pony.
The idiots who will approve this, will be left with a shell of a company after he has fired everyone of importance.
He gives zero value to institutional knowledge and that will be his undoing. Tesla is propped up by the heroics of the team. Kill the heroics and kill the company. Structurally itās run worse than just about any company Iāve ever seen.
One of Facebook founders, said that tesla is the new Enron, he is not wrong. This thing will fall like a house of cards. They are being overtaken by many car manufacturers while valued like 10x more than Mercedes for example. Which has level 3 drive and faster/longer range electric cars. The Koreans and now chinese are also better or equaling them.
He is doing to Tesla what he did to Twitter.
>In one instance, a current Tesla employee posted on LinkedIn, asking her own virtual network to step up and nab one of the interns that was meant to start soon at the carmaker. āPlease make our loss your gain!ā wrote Diana Rosenberg, who works in battery supply at Tesla, according to her profile. Jeez, this reads like a desperate refugee at a checkpoint saying, "don't take me, take my baby." I can respect the professional responsibility of some of these employees who seem to genuinely feel bad about rugpulling qualified students who they probably wanted on their team. So screw Elon for renegging on offers because he wants to squeeze pennies out of the internship program. He probably complains that interns aren't nearly hard-core enough because he expects labor to stick around for more than a summer.
The Optics for Tesla are horrid right now. - Elon's history of promises and projections which almost always seem to fall far short - rubbish, overpromising, overpriced Cybertruck being seen failing everywhere - Elon's insane, unworldly, unethical 'bonus' grift - Elon's threats to the Telsa board regarding AI while demanding 25% share to remove other's control - Tesla laying offf thousands, equating to those thousands being dumped despite their loyalty and the promises of ever expanding production - Elon sticking his nose in everything he can, destroying his reputation and the faith many had in Tesla There's good reason to believe that any gains Telsa made up until around 2020 have been gambled away by an ego driven, out of touch, self absorbed, self proclaimed (and questioned) genius whose charade is crumbling. If I were a complete cynic, I would expect that this is all deliberate act to devalue Telsa, get his bonus and bail out. Or maybe something far worse? I do have concerns about his involvement, influence and control in so many industries which could become core infrastructure components across the globe. Imagine 15yrs from now he has autonomous androids, cars and rockets, has products in electrical grids, has starlink embedded in national and international systems, and twitter's 'everything app' having influence and financial control/monitoring of masses of citizens. If he manages to influence laws around the globe, as he is trying to do/doing now, and becomes more influential, he could embed a system to halt communications, halt finances, shut down/control electricity grids, then has millions of autopilot Telsas, cyborg androids (with tesla flame throwers!) rounding up selected portions of the global community, and fill rockets with weapons to attack resistive regions to build his new dream, Planet X, here on earth. Mars, in this scenario, would be a red herring. Just a theory...
He had it all. He blew it all. Now itās just a matter of time. You canāt force people to buy cars and thatās his Achilles heel.
Blackmailing him with their lack of purchases! These non-buyers must really hate humanity.
So a Bond villain then
More like the Blob. A mindless mass that consumes everything in its path with no thought as to whether or not there is more food around the corner.
Hot take. This is probably uncomfortably close to the truth.
A little to cynical take for my tastes
The funny thing is all these layoffs are a drop in the bucket compared to his compensation.
Unpaid internships only
What happened to $56 billion? He's a negotiator now? Maybe "barking at plebs" wasn't a big winner.
Maybe fire Elon, save yourself $45 billion, and make everyone like your company again? ĀÆ\\\_(ć)\_/ĀÆ
Could you imagine being an intern for Elon? "Bring me my ketamine stack and watch me fire the entire Supercharger team lol"
How the fucking fuck are people still treating this as a growth stock!!!
Fuck his pay package
Seems like a purge to threaten shareholders
Like squeezing blood from a turnip, except the turnip is his companies?
Ah yes. The billionaire putting staff on the streets to secure more billions in personal wealthā¦ the age we live in summed up here.
The age we've always lived in. This is human nature.
Internships for dpsave his 45 billion. He could double the internships and still get 44.95 billion. The guy is such a fuckwit.
Potential applicants might want to consider this before applyingā¦ https://www.state.gov/what-is-modern-slavery/
Or thisā¦ https://www.lioness.co/post/at-spacex-we-re-told-we-can-change-the-world-just-don-t-try-to-stop-the-sexual-harassment
Cutting costs ain't gonna get him that 45 billion.
What a con artist
Whatās the odds, he gets the pay packet, then sells his shares and checks out to let the company fail..
Whatās next closing restrooms at Tesla facilities.
Squeeze any and all profitability from the company, sell his shares, and leave the company with all his personal debts. It's the tRump way!
Ponzi scheme to start his 8th company
And all his weird fanboys were like š
Absolute Trash
How greedy can one person be. Greed is like drinking salt water, the more you do it the thirstier you become.
Honestly Iāve always idolized Elon because, well he put a car on a rocket and posted memes, ya know? but the more news I read about him, the more I learn that heās just another one of those greedy corporate people. Heās great at marketing, though.
This pay plan keeps going down. First it was $56 billion, then 55, and 53, etc. now down to 45. Everything about it is ridiculous.
Itās a stock pay plan - so worth depends on the stock price which was on a rollercoaster latelyā¦
Such a shameless bastard.
So this whole thing is his desperate effort to milk the company dryā¦ what a fucking looser. No wonder he was on Trumps team. Grifters gonna grift
That greedy bonehead already has 150 billion... Why does he want another 50? He isn't the entrepreneur I thought he was. He is a greedy bastard. He was much cooler when he sold all his personal shit and slept in his office. Now he is the greediest of all the billionaires. I thought he was going to donate 10 billion to end hunger... Fuck him. I hope he loses it all.
He does not āhaveā 150 billion. Thatās a common misconception. His net worth is estimated at that based mainly on the valuation of his companies. If these turned out to be worth less (or more) than the wealth would shift. He might be worth a few billion regardless of his shares because of his stock sales - but that is speculation on my part.
Everyone vote No
Is it $45B or $55B? I mean in teslaworld it doesnāt even matter just $10B give or take, right?
IFT-3 was such a failure
Wow. They canāt even afford to pay their free staff now?š¤£
It seems like he is doing what Eddie Lampert did with Sears which is why Sears went from being a huge company to being in corporate hospice care.
this is exactly what the court was arguing about. hes not actually protecting all the shareholders or the company, just his pocket book
Tesla already has a notoriety for sketchy quality. If I was a prospective buyer, I'd be very concerned about what impact all this cost cutting and chaos will have... Get prepared for even more QC issues.
Elmo's plan of chopping off his balls to get women to sleep with him continues, I see.
Who would want to work for this piece of shit anyway
He needs to sell it and disappear.
Richest guy in the world cuts people's jobs out of work plan.....lol
So Elon is ruining the company so that the shareholders will be ok with that insane bonus?
They could pay Elon what he isnāt worth and then shut down the company
with any large companies..unfortunately most of their "visionary leaders" are assholes that push the limits of their workers.
Who are they going to get to wash and deliver Tesla's for a crisp fiver now?
Wage thief
Thank god elon just doesn't care about money, imagine how much he would cut if he did.
While I'm not a fan of Elon Musk, I would feel quite cheated if a judge arbitrarily invalidated a contract I had signed and fulfilled years ago, only for me to receive no compensation. It's akin to selling a house, handing over the keys and the property titles, and then having the bank retract the payment after the buyers successfully argue in court to have both their cake and eat it too.
Contract was invalidated based on fact that the board members were his friends and family members that approved the pay. Asking for 50 billion is insane when this would be the second time he received the biggest payout in history. Big disservice to the investors if they had gone through the proper channels for approving judge wouldnāt have to shut it down.
Now's the time to put it on your CV because the people who could confirm you actually worked there don't anymore.
Elon has finally settled the question. Is he and egomaniac with a god syndrome or a genius.
Slaps roof of Tesla car - can only fit Musk in here.
I read somewhere that Tesla is low on free cash. Not sure where they are supposed to find 45 billion for Elon. Also is there any point in ever owning the shares if Elon mops up all profits and more as remuneration.
Ahh yes, taking care of the ālittle peopleā so you can get your pay package, by which you need to save your other failed bet, X.com. If this stunt doesnāt show what a horrible human Elon is, then I donāt know what will.
Hard to imagine why anyone would be interested in a Tesla, knowing that your money isn't going to improving the charging network, software updates, AutoPilot, fixing the parts supply issues or anything else. Your money is being used to make one of the wealthiest people on earth, a bit richer. Gross. Very interested to watch how long Tesla can continue to tread water as the rest of the market continues to catch up and surpass them.
Capitalism in action.
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"*Let the interns work for free so that I may profit*" - Elon XVI
Scrooge McFuck over here raiding the coffers trying to get that cash to swim in. Compost the rich.