Capitalism has new rules. And they’re seriously messed up.
By Simon Black - May 04, 2018
It was just a month and a half ago that Tesla approved an eye-popping long-term pay package, worth as much as $50 BILLION to founder and CEO Elon Musk.
And on Wednesday afternoon, Tesla held its first corporate earnings call since then.
You’d think that Elon would have been gracious and professional, anxious to demonstrate that the shareholders’ trust in him has been well-placed.
Instead the call was filled with contempt and disrespect, with Elon outright refusing to answer questions that he deemed ‘boring’.
Bear in mind, Tesla’s financial results were gruesome; the company burned through yet another $1.1 billion in cash last quarter. That’s 70% worse than in the same period last year.
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