Elon Musk: This has been the most painful year of my career

Elon Musk opens up about the personal toll Tesla is taking on him
Elon Musk says 'the worst is over' for Tesla
Author

21 August, 2018

Shares of Tesla had their worst day in two years Friday after a New York Times feature outlined some serious struggles for CEO Elon Musk.

"This past year has been the most hard and painful of my career", Musk told the Times, which cited people briefed on the matter as saying Tesla is working to recruit an executive to take some of the heat off of Musk.

Investors must have gotten unnerved.

Musk's tweet caused a financial firestorm with Tesla shares immediately skyrocketing by nearly 11 per cent, although in the coming days they lost a good part of what they had gained and tanked further after Musk's interview with the NYT.

Musk wrote on Twitter last week of his plans to take the company private for a price of $420 per share, writing that he had "funding secured".

Tesla shares fell this week on reports by Fox Business and the New York Times that the US Securities and Exchange Commission has subpoenaed Musk to talk about the tweet.

He also denied "being on weed" at the time of the tweet and said he saw it as an attempt at transparency, but admitted in the interview on Thursday that no one had seen or reviewed it before he posted it. Observers puzzled over the price he cited. The implications for the company's funding, however, show that exiting the stock market will likely come with costs for Tesla. The tweet reportedly has spurred an investigation by securities regulators. "Weed is not helpful for productivity", he told the Times.

It's clear from the interview that Musk is overworked, and Whiston said the best course may be to bring in another executive to help with day-to-day operations.

Omarosa says Trumps offered her US$15000 a month for her "silence"
The Trump team didn't care what she did, but wanted her to stay quiet, she said. You can hear the exchange between Manigault Newman and Madison below.

Anderson becomes first England bowler to hit 900-point mark
And yet, who knows what Rashid was really thinking as he made his way back to the England dressing room. "The Indian team can't complain that they were not given enough time to prepare".

WF coach charged with assault in connection to death
Jamill Jones , 35, was arrested Thursday in connection with the death of Sandor Szabo , of Boca Raton, Florida. A former UCF basketball coach is accused of punching and killing a tourist in New York City over the weekend.

According to the note, Tesla's gross margin comes in at 18 percent for a high-end Model 3, while the BMW 330i records 21 percent.

But Tesla isn't quite normal, with the identity and success of the company tied directly to Musk's intelligence and personality.

Tesla's board has moved to clarify Musk's comments by saying it hasn't received a formal outline of a plan to go private from Musk and hasn't reached a conclusion about whether going private would be achievable for the vehicle maker. But in the interview, he demonstrated an extraordinary level of self-reflection and vulnerability, acknowledging that his myriad responsibilities are taking a steep personal toll.

"The worst is over from a Tesla operational standpoint", he said.

Efforts are also under way to recruit an executive to take some pressure off Mr Musk, the newspaper reported.

If Tesla directors are anxious about Musk - and they should be - here is advice for them: Do your jobs. He said his reference to having secured funding referred to a potential investment by Saudi Arabia's government investment fund.

Musk also took a swipe at short-sellers who bet against Tesla's stock value and whom he says are "desperately pushing a narrative that will possibly result in Tesla's destruction". "Is there someone who can do the job better?"

"There were times when I didn't leave he factory for three or four days - days when I didn't go outside", he said.


More news


  • Dershowitz: 'Less Bad' For McGahn to Testify Than for Trump To

    Dershowitz: 'Less Bad' For McGahn to Testify Than for Trump To

    The person also said Trump is not anxious because he does not feel he did anything wrong. McGahn would have had to resign if he thought the President did anything illegal.
    Former Indian PM Atal Bihari Vajpayee passes away

    Former Indian PM Atal Bihari Vajpayee passes away

    Chief ministers, including Yogi Adityanath, Nitish Kumar, Shivraj Singh Chauhan and Vijay Rupani also attended the funeral. Earlier, thousands of mourners joined Modi, Shah, and other BJP leaders in the funeral procession.
    Why Meghan Markle has to return her birthday presents

    Why Meghan Markle has to return her birthday presents

    From just over a year of Prince Harry and Meghan Markle's romance, we've gleaned two things: One, they couples dress like nobody's business; and two, they're cute as fuck.
  • Senior Chinese delegates to visit United States  for trade war talks

    Senior Chinese delegates to visit United States for trade war talks

    Worries about damage to the global economy from the dispute have hurt prices, which hit their lowest since June 2017 overnight. The last official round of talks was in early June when the USA commerce secretary, Wilbur Ross , met Liu He in Beijing .
    Liverpool vs. West Ham live stream

    Liverpool vs. West Ham live stream

    Jack Wilshere will be given a personal training plan at West Ham in order to keep him fit and pave the way for an England return. The Reds kick-started their Premier League campaign with a thumping 4-0 win over West Ham United at Anfield on Sunday.
    Venezuela's Maduro Survives Attack by Exploding Drones

    Venezuela's Maduro Survives Attack by Exploding Drones

    While Maduro was speaking about Venezuela's economy, the audio suddenly went. "He is working as usual", Rodriguez said. A little-known group called the "National Movement of Soldiers in T-shirts" claimed responsibility for the attack.
  • Western & Southern Open 2018 | Federer cruises, Kvitova downs Serena

    Western & Southern Open 2018 | Federer cruises, Kvitova downs Serena

    She looked strong in the set with Petra Kvitova , rallying in the second to even it out before running out of gas in the third. On the men's side, Sam Querrey ground out a 6-4, 6-7 (5), 7-6 (5) win over fellow American and ninth-seeded John Isner.
    Trump campaign sues Omarosa hours after he calls her ‘that dog’

    Trump campaign sues Omarosa hours after he calls her ‘that dog’

    In several interviews, she has accused Trump of being a racist and a misogynist and said that he was mentally unfit. Trump on Monday denied the existence of any tape from " The Apprentice " in which he used the racial epithet.
    West Nile virus found in mosquitoes trapped in Mitchell, health unit says

    West Nile virus found in mosquitoes trapped in Mitchell, health unit says

    By the end of mosquito season in October, 26 Dallas County residents had reported infections, leading to two deaths. Lyttle added people are most at risk of contracting West Nile virus during the months of July and August.
  • Iran's Ayatollah wants 'no negotiations with the US'

    Iran's Ayatollah wants 'no negotiations with the US'

    Ayatollah Khamenei asked in reference to the US withdrawal from the 2015 nuclear deal and restoration of sanctions against Iran. Iran often announces military achievements that can not be independently verified.
    Nasa launches first ever solar probe to 'touch the sun'

    Nasa launches first ever solar probe to 'touch the sun'

    Speaking after the launch, the 91-year-old told NASA TV: "It's a whole new phase and it's going to be fascinating throughout. No human-made vehicle has ever come so close - leading the American space agency to claim the probe will "touch" the sun.
    US  sends home Korean War remains handed over by North Korea

    US sends home Korean War remains handed over by North Korea

    The Pentagon said it's "absolutely" considering sending USA personnel to North Korea to search for more missing Americans. The remains were turned over after President Donald Trump's Singapore summit with North Korean dictator Kim Jong Un .