My guess is that most people who read the whole Times article will reach the same conclusion I have that Musk clearly has not: this man seriously needs to learn how to delegate, and now.
"That's a clear factual statement", said John C. Coffee Jr., a professor at Columbia Law School who specialises in corporate law and securities fraud. "Weed is not helpful for productivity", he told the Times. "There's a reason for the word 'stoned.' You just sit there like a stone on weed", he said.
Tesla shares closed at $305.50, their lowest level since August 1, as analysts and business professors questioned whether the company's board should grant Musk a leave or even replace him with a more seasoned CEO. On Monday, in a blog post, Musk admitted that was not true, as he was still waiting on a finalized deal with his investors, a Saudi Arabian foreign investment fund.
Tesla shares are down 1% this year, including Friday. But there are doubts about whether he will be able to pull the deal off.
Anyone can see that Elon Musk has been having a rough year. It also caused Musk a lot of trouble.
Nvidia rolls out new chip technology for filmmakers
Now, courtesy of a number of easter eggs tucked into an official teaser video, we have a much better idea of what that might be. However, we wonder if the next-gen gaming GPUs from Nvidia will be based on the Nvidia Turing architecture or not.
But Erik Gordon, a University of MI business and law professor, said Tesla's board has a fiduciary duty to shareholders to take action. The latest snapshot of Bloomberg's Model 3 Tracker shows Tesla consistently cranking out more than 5,000 cars a week, a threshold that Musk has long said will make the mass-market sedan profitable. "This has really come at the expense of seeing my kids".
Money-losing Tesla has been burning through cash as it has aggressively ramped up Model 3 production, a process Musk has called "production hell".
But even if Tesla's board wanted to remove Musk as CEO, it would be unsafe to do it abruptly given how much faith investors have in Musk, said David Whiston, equity strategist at Morningstar.
You can get the idea of the plight of Elon Musk from his statement- "The worst is over from a Tesla operational standpoint". He may have been referring to short-sellers, investors betting against Tesla whom he has openly wrangled with in the past.
But Musk didn't mention any legally binding agreements that were in place at the time he sent the "funding secured" tweet, and he also said he was in discussions with other investors, which suggested some sources of funding may not have been settled before the tweet was sent.
For now, it looks like Musk is staying in his job, despite speculation earlier this year that he'd be ousted (and, apparently, his own desire to leave): "If you have anyone who can do a better job, please let me know".
"They can have the job".