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News on Medial
Musk needs new Teslas to pay for his autonomous dreams
Livemint
·
1y ago
Medial
Tesla's surprise first-quarter results provided a promising outlook for investors. The company announced an updated future vehicle lineup, aiming to launch new models earlier than expected. However, these new models will combine elements of both the current production platform and the next-generation one, resulting in lower cost savings. Tesla's focus on speed of delivery and capital efficiency garnered positive responses from institutional investors. The company's cash burn rate and declining electric vehicle demand influenced this strategic shift. Sales growth is expected to resume in 2022 with the introduction of affordable Tesla models.
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Viewers mock Elon Musk for being 'triggered' over a scene featuring hacked Teslas in Netflix's 'Leave the World Behind' movie
Business Insider
·
1y ago
Medial
Elon Musk is being mocked for his response to a scene featuring hacked Teslas in the movie "Leave the World Behind." The billionaire's comment about Teslas being able to charge from solar panels even in a world with no gasoline missed the point of the scene, which was meant to highlight the negative consequences of technology. Viewers have criticized Musk for failing to understand the segment and accused him of being triggered by the scene. The movie serves as a cautionary tale about society's reliance on technology.
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Back and forth over Elon Musk’s pay cheque: How Tesla splurged to retain its CEO - The Economic Times
Economic Times
·
27d ago
Medial
Tesla has awarded Elon Musk a significant stock package valued at $29 billion, requiring him to remain CEO for two years. This package aims to retain Musk amid legal challenges to his previous $50 billion pay deal, which a Delaware court dismissed as unfair. Despite the controversy, Tesla continues to back Musk with new shares and increased voting rights, reflecting his pivotal role as they transition more towards AI and robotics sectors.
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Elon Musk is lobbying lawmakers on driverless vehicle rules | TechCrunch
TechCrunch
·
3m ago
Medial
Elon Musk is actively lobbying lawmakers on autonomous vehicle legislation, according to a Bloomberg report. Despite stepping back from previous government advisory roles, Musk is engaging members of Congress regarding the Autonomous Vehicle Acceleration Act introduced on May 15. His lobbying efforts align with Tesla's strategic focus on AI and driverless technology. Tesla plans to initiate a geofenced robotaxi service in Austin, Texas, as it navigates the current lack of federal regulations for fully autonomous vehicles.
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US judge allows dismissed Twitter execs, including ex-CEO Parag Agrawal, to sue Elon Musk for severance
Livemint
·
10m ago
Medial
California district court judge has allowed former Twitter executives, including ex-CEO Parag Agrawal, to pursue lawsuits against Elon Musk for severance pay. The executives claim that Musk terminated their roles with Twitter during his acquisition in order to cheat them of their severance benefits. Musk and his company X are facing multiple legal claims over severance pay disputes after acquiring Twitter and subsequently firing numerous staff members.
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Musk shifts Neuralink incorporation from Delaware to Nevada as he rails against $55 billion pay ruling
Business Insider
·
1y ago
Medial
Elon Musk has shifted the incorporation location of his brain-chip implant company Neuralink from Delaware to Nevada. The move comes after legal setbacks for Musk in Delaware, including a judge striking down his $55 billion pay package. Musk recommended incorporating in Nevada or Texas for shareholders to have more decision-making power. This is not the first time Musk has relocated his companies, previously moving X and expressing his intent to reincorporate Tesla. Delaware is known as the US's incorporation capital, but Musk has criticized it and advocated for Texas as a better option.
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Tesla CEO Elon Musk promises driverless ride-hailing services in 2025 amid regulatory hurdles | Mint
Livemint
·
10m ago
Medial
Tesla CEO Elon Musk has announced that the company plans to launch driverless ride-hailing services in California and Texas next year. Musk stated that Tesla is confident in having driverless Teslas providing paid rides by 2022. This announcement expands on his previous pledge to introduce "unsupervised" self-driving vehicles by 2025. However, Tesla may face challenges in acquiring the necessary permits and addressing regulatory concerns, especially in California. Despite this, Tesla's forecasted increase in vehicle sales for the next year has restored some investor confidence. Shares of ride-hailing apps dipped in response to the robotaxi fleet news.
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Tesla Cybercab announced: Elon Musk’s robotaxi is finally here
The Verge
·
10m ago
Medial
- Introduction of Cybercab: Elon Musk unveiled the Tesla Cybercab, a purpose-built autonomous vehicle without a steering wheel or pedals, designed for self-driving and lacking traditional charging ports, as it charges inductively. - Safety and Cost Claims: Musk stated that autonomous cars could be 10-20 times safer than human drivers and cost as low as $0.20 per mile, significantly cheaper than city buses. - Production Timeline: Tesla aims to launch fully autonomous driving in Texas and California next year, with Cybercab production expected by 2026, potentially delayed until 2027. - Regulatory Challenges: The Cybercab needs regulatory approval before production, and Musk's claims face scrutiny from experts who question Tesla's approach to autonomy amidst safety concerns from previous incidents. - Shift in Focus: Musk is steering Tesla towards robotics and AI, positioning the company beyond just electric vehicles, despite facing competition from established autonomous vehicle developers like Waymo and Cruise.
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Elon Musk may leave Tesla if $56 bn pay not approved, Denholm warns shareholders
Livemint
·
1y ago
Medial
Tesla's Chairperson, Robyn Denholm, has stated that CEO Elon Musk may leave the company if shareholders vote against his $56 billion pay package during the upcoming shareholders meeting. Denholm emphasized that motivating someone like Musk requires a different approach, and if shareholders reject the pay package, Musk may take his talents elsewhere. The approval process for Musk's compensation package was recently voided by a Delaware judge for being "deeply flawed". Denholm argued that the package is not about the money but about retaining Musk's focus and commitment to Tesla.
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How hard should Tesla fight for Elon Musk’s attention?
Livemint
·
1y ago
Medial
Tesla's board is seeking shareholders' approval to re-approve the record pay package given to CEO Elon Musk six years ago, which was rescinded by a judge. Chair Robyn Denholm argues that the pay package motivates Musk to drive continued growth. However, some investors are becoming weary of Musk's multiple commitments and his engagement with contentious social and political issues. The vote not only concerns the pay package but also reflects shareholders' confidence in Tesla's future with Musk at the helm. Rejection of the pay package would signal a lack of support for a less-focused CEO.
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Elon Musk to raise salaries of Tesla engineers to ward off poaching by OpenAI
Livemint
·
1y ago
Medial
Elon Musk has acknowledged that Tesla is facing difficulties in retaining artificial intelligence (AI) specialists, as some have left the company to join his own AI venture, xAI. In response, Tesla is increasing compensation for its AI engineering team. Musk has blamed the "craziest talent war" for the exodus and expressed concern about conflicts and governance within his empire. Musk formed xAI last year after falling out with the co-founders of OpenAI, the creator of ChatGPT. Tesla has been actively focused on AI and autonomous driving, and Musk hopes the move will eliminate potential conflicts.
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