6mo ago

Tesla Reports Profit Drop On Price Cuts, Lower Vehicle Sales

www.ibtimes.co.uk Tesla Reports Profit Drop On Price Cuts, Lower Vehicle Sales

Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on autonomous driving and other technology.

Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on autonomous driving and other technology.

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I can’t believe they haven’t booted musk yet
- Booted? They just voted him a 55 billion dollar bonus.
  This is exactly what his investors want apparently.
  
  It's so hilarious IMO, by the rate they made money this past quarter, it will take Tesla 10 years, just to earn that $55 billion bonus back.
  
  Did that pass?
  
  It did pass and is tied to performance of the company. He doesn’t actually get a 55B bonus. His bonus is in the form of stock, its award is tiered based on revenue-tied performance, and he can’t sell the stock until 5 years after it’s awarded, as to prevent a pump-and-dump incentive structure.
  
  Yup.

12 comments