Category Archives: Elon Musk

Welcome to life in Musklandia.

As Elon Musks sphere of influence in Austin and across Texas seems to expand by the day, the eccentric Texas-based billionaire is taking the region and the state along on the wild and often weird roller coaster ride that is his life.

Its been a little more than a month since Musk announced Oct. 7 that Tesla is moving its headquarters to Austin, but even before that, Musk was already spending an increasing amount of time in Austin. He has been moving more of his companies into the region since at least 2020, most notably with Teslas $1.1 billion manufacturing facility currently being built in southeastern Travis County.

As Austin becomes ground zero for all things Musk, that leaves the rest of us figuring out how to navigate the new landscape good, bad and odd.

Musk is a modern-day Albert Einstein in the eyes of many, and the richest person in the world by a wide margin. Hes going to bring a lot more limelight and focus on Austin, said Dan Ives, an analyst with Wedbush Securities.

Musk and Austin are likely to become inextricably linked in the coming years, Ives said.

When the average person in the world thinks Austin, Texas, theyre not going to the music festival or Dell or for the great city it is. Tesla and Elon Musk are going to become synonymous with Austin, Ives said.

Roger Kay, an analyst with Endpoint Technologies, said Musks status and personality are sure to have an impact on Central Texas.

Hes the richest guy in the world, which is interesting. So what hell do immediately is upstage (Dell Technologies founder and CEO) Michael Dell, at least on that, Kay said. Michael has been the kind of king of Austin, I would say, all up until this point.

While the $1.1 billion Tesla manufacturing facility and Teslas planned headquarters move to Austin have drawn the most attention, Musks ventures have been quietly expanding in Central Texas for some time now. They include Musks tunneling and infrastructure company, the Boring Co., which has facilities in Pflugerville and Bastrop; a potential SpaceX expansion somewhere in Austin; a potential Neuralink office; and the headquarters of his private foundation, the Musk Foundation.

Also, a Tesla subsidiary, Tesla Energy, was recently licensed to operate as an energy provider in Texas, according to documents filed with the Texas Public Utility Commission. The company is already building the first Tesla solar neighborhood in Austin, called SunHouse at Easton Park, with solar- and alternative-powered energy.

Meanwhile, SpaceX Musks aerospace and rocket company has multiple facilities around Texas, including a launch site near Boca Chica in far South Texas.

Whats not clear is whether Musk has a residence in Austin. Although various media outlets have listed Austin as his home, he has never publicly confirmed that. Musk announced last year that he had moved to Texas but said his main residence is a small home near Boca Chica on the SpaceX campus.

Whether Musk actually lives in Austin or not, his influence in and impact on Central Texas cant be denied.

Kay said the influx of Tesla and other Musk-related companies will lead to higher salaries in the local tech industry, as well as add to the regions already booming housing market and send real estate prices even higher.

For some people there will be good opportunities. Other people, Kay said, are going to be irritated.

One of the places where Musk has drawn the most attention and perhaps created the most irritation has been on social media. Musk is active on Twitter, where he has more than 63 million followers.

With his immense wealth and such a huge audience, the influence of what Musk posts on social media shouldnt be downplayed, Ives said.

He is one of, if not the most powerful voice in the world in terms of social media and a following, Ives said. If Musk talks, everyones listening. When youre on the right side of that, its great. When youre on the wrong side of that, its a lot of downsides.

Few days go by without Musk making some sort of headline on social media, whether it be for company news, cryptic personal statements, political commentary or just posting a meme.

One example was earlier this month when, after polling his Twitter followers on whether he should sell 10% of his Tesla stock, Musk sold about 900,000 shares, netting over $1.1 billion. His trust also sold more than 3.5 million shares worth $3.88 billion. The stock options that were sold would expire next year and still leave Musk with about 170 million Tesla shares.

More sales later in the week, from both Musk and his trust, have brought the total stock sold to 6.4 million shares, worth a total of $6.9 billion. The sales so far amount to less than 4% of the shares he holds.

Ives said that while a sale of some stock has been expected to pay upcoming taxes, holding a Twitter poll to sell the stock is another soap opera that can only happen to one company and one CEO in the world, Musk.

Here are a few more highlights and lowlights from Musk on social media in the past month:

While most of that social media activity hasnt focused directly on Austin or Texas, there are signs Musk is starting to take more of an interest in whats going on in the Lone Star State.

When Musk announced he was moving Teslas headquarters to Austin, he didnt mention previous clashes hed had with California officials. But industry analysts say that while Austin is more affordable than Silicon Valley and still has the tech and engineering talent Musk needs for his companies, it seems clear he decided he preferred Texas more business-friendly environment over Californias more regulation-heavy approach.

I think Musk selected Texas in particular because of its kind of frontier style. Hes always thought that Californias heavy regulatory environment was not particularly conducive to his style, Kay said. Hes made it really clear that he doesnt think public authorities have any business telling him what to do.

All of which means officials in Texas and in Austin could eventually find themselves getting the same pushback California did from Musk if regulatory conditions rub him the wrong way.

Musk tends to do what he wants and is clever and aggressive in how he goes about disputes, Kay said. At the same time, he will bring a lot of jobs and tax revenue to the region, which gives him cards to play.

Hell say, Well, listen, you want me to just pick up stakes and go to Mississippi? Kay said. Theres probably going to be some ruffled feathers there when he says, Its my way or the highway and now I own your highway. You cant say anything about it. You do well, then Ill bring all my resources to bear upon you.

It remains to be seen how Musk might aim to influence state or local policymaking.

In September, Gov. Greg Abbott said that Musk supported Texas social policies. In response, Musk tweeted: In general, I believe government should rarely impose its will upon the people, and, when doing so, should aspire to maximize their cumulative happiness. That said, I would prefer to stay out of politics.

However, Musk has weighed in on some Austin political issues already.

Austin should be its city, not a San Francisco copycat, Musk said in a Halloween tweet replying to a tweet about Proposition A, which didnt pass earlier this month. The proposition would have required the city of Austin to hire hundreds more police officers.

Whatever positions Musk takes, they are sure to have influence in Austin, across the state and globally, Ives said in large part because of Musks immense wealth and the power that affords him.

Musk recently became the first person in the Bloomberg Billionaires Index to have an estimated net worth of more than $300 billion, making him not only the wealthiest person in the country but also the richest person in history. Musks current estimated net worth is somewhere between $280 billion and $300 billion.

Having Musk and Tesla in the city comes with exponentially more positives than negatives for Austin, Ives said. But Austin has to embrace Tesla and Elon, and not just treat him like any other business person. There are 300 billion reasons hes not.

Kara Carlson,

Austin American-Statesman (TNS)

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Austin adjusts to life with Tesla and its eccentric billionaire boss Elon Musk - The Dallas Morning News

A Russia-based luxury accessory company is selling eight-inch-tall busts of Tesla CEO Elon Musk, which it says are made from the melted-down parts of a Tesla electric car.

The sculptures, though, bear little resemblance to the world's richest man.

The brand, Caviar, usually makes luxury smartphones. In a press release, the company said it made 27 Musk busts as part of a limited-edition set. Each one is worth $2,700, said Caviar, though its website lists the bust at $3,220.

"These new items embody the soul of Elon Musk and, therefore, they will bring their owners the success and creativity of this outstanding individual," wrote company founder Sergey Kitov in the release.

The bust material comes from the metal of a blue Tesla Model 3 (which has a starting price in Russia of around $58,000), Head of Marketing Dmitrey Stoliarov told Insider.

Stoliarov said the sculpture's likeness of Musk was crafted by a 3D artist hired by Caviar. "We didn't download it from the internet," he said.

When asked about the discrepancies between the bust design and Musk's appearance, Stoliarov said: "Our artist did not pursue the goal of creating photographic accuracy. He created an image of the inventor in which all his achievements and inventions are reflected."

As to how many busts have been sold so far, Stoliarov said sales had just started.

The company is also selling iPhone 13 Pro and iPhone 13 Max designs made from Tesla parts, starting at $5,600 a piece, it said. The designs feature a portrait of Musk on the top right corner, with an engraving made from the copper of a Tesla battery.

Only 99 such phones will be available worldwide, Caviar said.

The phone designs and statues are part of its Visionaries collection, which also include (more recognizable) busts of Alibaba founder Jack Ma and the late Apple magnate Steve Jobs, selling at $1,990 and $1,680 respectively. These busts are made of nickel-plated brass.

"We want our customers to look at the desktop bust of Elon Musk or Steve Jobs and their customized iPhone and be inspired by their example every day and build their own future," Stoliarov said.

More:

Company melts $58,000 Teslas into busts of Elon Musk that look nothing like him - Business Insider

Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk recently responded to a tweet that called attention to the dangers and pitfalls of leveraged Dogecoin (CRYPTO: DOGE) trading.

Musk was reacting to a post by Twitter user Mishaboar.

Mishaboar tweeted that some holders of the meme cryptocurrency started asking for help after their margin accounts got liquidated.

He mentioned that educating people about risky leveraged trading was important, and compared taking on theadditional risk to adding gasoline to the fire.

"Experienced traders and those with vast amounts of liquidity can try their chance at gambling with this. But believe me, many are not as "experienced" as they think they are," Mishaboartweeted. "You are against organizations and institutional investors that have a lot more information than you do."

Mishaboar wrote, "These tools are already dangerous in traditional markets. However, in the crypto market, which is vastly unregulated, the risks and unfairness are multiplied x100."

"Again: it is playing Russian roulette against the guy who made the gun and knows exactly which chamber holds the bullet," he added.

Musk reacted to the tweet and said, "Good thread."

Last week Musk backed another perspective on Dogecoin, saying it should break its dependence on centralized exchanges like Robinhood Markets Inc. (NASDAQ:HOOD) and Binance.

Binance and Robinhood are some of the cryptocurrency exchanges that support Dogecoin. These exchanges allow users to buy and sell coins using fiat or other cryptocurrencies.

Related Link:Whales Are Buying Dogecoin, The Meme Crypto Ranks Among The Most Actively Used Smart Contracts

Read more:

Elon Musk Supports View That Dogecoin Hodlers Need To Be Wary Of Leveraged Trading - Benzinga - Benzinga

Starlight's allies... or enemies?

They're mysterious, they're loaded, and they already kinda rule the world... so Jeff Bezos, Bill Gates and Elon Musk pretty much tick all the movie villain boxes.

But in the world of "The Boys", where the line between good guys and bad guys is a little blurred on which side of the divide would the trio fall?

Erin Moriarty, who plays Starlight on the Amazon Prime hit series, had no hesitation giving her opinion... on two of them anyway, as Jeff Bezos is technically her boss:

"Oh that's an interesting question and I feel like the Amazon snipers will shoot me down if I answer that," she dodged with superhero-like reflexes.

The other two, she insisted while leaving Zinque Cafe in LA recently, are definite good guys.

"Honestly I like Bill Gates and what he does with vaccines," she said, "and I think even though Elon Musk is heavily criticized I have a feeling he's going to make a better impact on the world than most of us, in terms of the environment, so I'm not for the vilification of Elon Musk.... I like an electric car!"

The 27-year-old shrugged off criticism Bezos and Musk faced for dallying in a personal space race while the planet we have suffers, or Gates calling for climate change from the top of his super yacht (which are all pretty supervillain-sounding pursuits, to be fair).

Mario Bros. Producer Chris Meledandri Defends Casting Non-Italian Chris Pratt (Exclusive) View Story

"Yeah I know, I know," she sighed. "I do feel like though ultimately with what [Gates] does with the vaccine world, and Elon Musk like I said with the whole environment..."

"I think Starlight would try and just work in conjunction with Elon Musk and all the things that he does with the environment."

While "The Boys" features plenty of female butt-kickers both good and bad such as Queen Maeve, Stormfront, Kimiko, and of course, Starlight herself, Moriarty agrees the "damsel in distress" is a tired TV trope that still needs putting to bed.

"I think we've seen enough strong men in strong roles, period," she declared. "I think we need more women in strong roles for about a century to overcompensate for the men taking up that arena, to be honest."

And will the upcoming season 3 of "The Boys" feature even more diverse roles?

"Yes but that's all I can say," she replied. "Otherwise again, I'll lose my job."

William Shatner Fires Back at George Takei After Space Flight Slam View Story

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Would Jeff Bezos, Elon Musk And Bill Gates Be Villains Or Heroes On 'The Boys'? Erin Moriarty Weighs In - TooFab

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US President Biden, Vice President Kamala Harris, and members of the current administration who are seemingly refusing even to mention the word Tesla may soon find their online presence saturated with the EV makers name. This was after Tesla CEO Elon Musk poked fun at the Biden administrations tendency to completely ignore Teslas existence or accomplishments during public appearances and on social media.

Last week, the online electric vehicle community was aghast after US President Joe Biden visited General Motors Factory Zero in Detroit, Michigan. While speaking to the audience, Biden patted GM CEO Mary Barras back, stating that the executive was leading the auto sectors transition to electric vehicles. You electrified the entire automotive industry. Im serious. You led, and it matters, Biden said. The US President doubled down on this sentiment with a series of posts on Twitter, stating that the future of the US is electric.

Bidens sentiments were later echoed by VP Kamala Harris, who also noted that the United States would be building electric vehicles, including the batteries and parts that go in them, instead of relying on other countries. Just like the President, she also noted that the future will be made in America. This resulted in numerous netizens poking fun at the Vice President, stating that the future is already being made in America by Tesla for over a decade. Other Twitter users further joked that Harris might have simply never seen a Tesla, despite serving as Californias attorney general from 2011 to 2017.

Considering that Elon Musks suggestions for a carbon tax were rejected by the Biden administration for being too politically difficult, the fact that Tesla was not invited to the White Houses EV summit earlier this year, the Presidents rewriting of modern auto history by giving GM credit for the current EV transition, and the fact that the both Biden and his VP seems adamant not to even mention the word Tesla online, Elon Musk opted to poke fun at the White Houses ongoing snub. In a recent post on Twitter, Musk joked that the White Houses leadership might actually be NPCs (non-player characters), so the word Tesla may simply be outside their dialogue tree.

In a follow-up comment, Musk playfully urged his followers to see if everyone could get the US President and Vice President to say the word Tesla. This suggestion inspired numerous responses on Twitter and other social media platforms, with some EV supporters noting that it would be interesting to have numerous Teslas conduct a drive to Washington. Other suggestions were more humorous, with some noting that Musk should personally invite Biden to Giga Texas opening ceremony, and if the President ignores the invitation, the Tesla CEO should simply have a life-sized cardboard cut-out of the politician attend the event instead.

Overall, Musk seems to be taking the administrations evident Tesla snub in stride, which is a pretty good sign on its own. At this point, after all, Tesla appears to have already reached a point where it is already a stable business that could stand on its own two feet, even without the help of regulatory credits. And with more factories opening in the near future in the form of Gigafactory Texas and Giga Berlin, Teslas presence would likely be acknowledged worldwide, even if its existence is flat out denied by the US President and the current administration.

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Elon Musk shares hilarious theory about why US leaders are refusing to admit that Tesla exists - Teslarati

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Elon Musk

Mark Ralston | AFP | Getty Images

Elon Musk may be a strong proponent of all things tech. But he's far from positive on its implications for the jobs market.

In fact, the Tesla CEO says one of tech's great developments artificial intelligence could spell the end of many jobs altogether.

"AI will make jobs kind of pointless," Musk said Thursday, speaking alongside Alibaba's founder Jack Ma at the World Artificial Intelligence Conference in Shanghai.

Least vulnerable to that job disruption will be individuals who can program AI software, Musk noted, recommending young people go on to study engineering.

But, even then, he said, "eventually the AI will just write its own software."

Musk's comments come amid increasing debate over the impact of technology on the global workforce. The World Economic Forum has predicted that 75 million jobs will be displaced by 2022.

It was not all doom and gloom, however. Musk said that businesses focusing on human interaction would continue to thrive, even in a fast-evolving jobs landscape.

"People enjoy, fundamentally, interacting with other people," he said.

"If you're working on something that involves people or engineering, it's probably a good approach," he said.

That, or "art," he added.

The rest is here:

Elon Musk: 'A.I. will make jobs kind of pointless' so ...

In just over 10 years since becomingTesla's CEO, Elon Musk has managed to take his company from relative unknown to one of the most valuable automakers in the world.

To accomplish that--to succeed against large, entrenched competitors in a legacy market--Musk has repeatedly said that Tesla needs to work harder and think differently.

In abrilliant email sent last year,Musk offered an insightful look into one way Tesla does this: throughmeetings.

And chances are, these meetings look a lot different than the ones held at your company.

Here are Elon Musk's three rules for better meetings:

2. If you're not adding value to a meeting, leave.

Let's break down why Musk's advice is so extraordinary.

No large meetings

In the aforementioned email, Musk wrote the following:

"Please get rid of all large meetings, unless you're certain they are providing value to the whole audience, in which case keep them very short."

In one interview,Musk said that a typical meeting at Tesla should involve no more than four to six people.

Managerial experts agree with this line of thinking.

"People don't often think about who really needs to be at the meeting," Neal Hartman, who is a professor at the MIT Sloan School of Management,recently told CNN."Lots of people get invited and if the topic isn't relevant to them, they feel like they have nothing to contribute and they are sitting there thinking of all the other things they could be doing."

Takeaway: Before you send out your next invite list, ask yourself: Who on this list will add (or receive) the most value? Is there anyone who doesn't need to be there?

Questions like these can help you trim your meeting size down to must-have attendees--allowing everyone else to focus on more productive work.

2. If you're not adding value to a meeting, leave.

But what if you're invited to a meeting, and you realize you shouldn't be there?

"Walk out of a meeting or drop off a call as soon as it is obvious you aren't adding value."

Most companies would probably find this rule shocking, but it's actually brilliant.

The key, of course, is to build this rule into the meeting culture. When team leads and team members alike recognize this rule as beneficial, and set the right example in using it tactfully, it can help build authenticity and transparency in an organization.

When asked if it's rude to leave a meeting at Tesla where you aren't adding value, Musk said, "No, it's expected."

"It is not rude to leave. It is rude to make someone stay and waste their time."

Takeaway: If your meetings regularly include attendees who are glued to their phones because they're bored out of their minds, consider whether you can start applying this rule to your team.

3. No frequent meetings.

"Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter," writes Musk. "Meeting frequency should drop rapidly once the urgent matter is resolved."

Anyone who's worked for a large organization will recognize the value in this third rule. Often meetings are put on the schedule to deal with a high-priority issue. But just as often, once that issue is dealt with, the meeting stays recurring.

Even if this happens only once or twice before the moderator catches it and adjusts, time has been wasted and other higher-priority issues pushed to the side.

Takeaway: Ask yourself, how urgent is the need behind this meeting? Can I reduce the frequency of this meeting, and communicate updates via email or group chat?

If so, you'll save everyone time and increase the value of the meetings you do have.

In short, if you're responsible for meetings in your company, remember Elon Musk's three rules:

2. If you're not adding value to a meeting, leave.

Putting these rules into practice will increase overall productivity--and make your meetings count.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

Continued here:

Elon Musk Knows How to Run a Meeting. Here's How He Does ...

SpaceX founder and Tesla CEO Elon Musk visits the construction site of Tesla's gigafactory in Gruenheide, near Berlin, Germany, May 17, 2021.

Michele Tantussi | Reuters

Tesla CEO Elon Musk sold about $1.05 billion in stock on Tuesday evening, according to financial filings postedthis week. The sales were scheduled in September to exercise options that were set to expire in 2022.

Musk has sold a total of $9.85 billion in Tesla stock this month, including the $6.9 billion he sold the week of Nov. 10 and another $1.9 billion he sold on Nov. 15 and Nov. 16. Some of the shares were sold in part to satisfy tax obligations related to an exercise of stock options.

Musk and his trust still hold more than 169 million shares in the company.

Tesla shares fell 15.4% the week ended Nov. 12, marking the worst week for Tesla stock in 20 months after Musk began selling shares. Shares of Tesla were up about 1% on Wednesday afternoon.

Musk ran an informal Twitter poll on Nov. 6 asking his more than 60 million Twitter followers whether or not he should sell 10% of his Tesla stock. The poll ultimately ended with users telling Musk to sell.

But, Musk had already indicated earlier this year he was likely to sell "a huge block" of his options in the fourth quarter. During anappearance at the Code Conferencein September, he said when his stock options expire at Tesla, his marginal tax rate would be over 50%.

CNBC's Lora Kolodny contributed to this report.

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Correction: Updated to reflect shares of Tesla fell 15.4% for the week ended Nov. 12, not the week ended Nov. 19.

Excerpt from:

Elon Musk sold another $1 billion in Tesla shares on Tuesday - CNBC