Libbers are too stubborn, just like wingies on the other far end of the spectrum. Doubt many will sell their T's or hold off continuing to upgrade every couple of years because of Musk's nutty behavior.
Hahahaha Delaware judge rejects request to restore Musk's $56 billion Tesla pay Tom Hals and Jonathan Stempel Mon, December 2, 2024 at 4:56 PM EST 3 min read In This Article: TSLA +3.46% By Tom Hals and Jonathan Stempel WILMINGTON, Delaware (Reuters) -A Delaware judge ruled on Monday that Tesla CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk's future at the world's most valuable carmaker. Musk did not immediately respond to an emailed request for comment. Tesla has said in court filings that the judge should recognize a subsequent June vote by its shareholders in favor of the pay package for Musk, the company's driving force who is responsible for many of its advances, and reinstate his compensation. McCormick said Tesla’s board was not entitled to hit “reset” to restore Musk’s pay package. “Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” she said in her 101-page opinion. She also said Tesla made multiple material misstatements in its proxy statement regarding the vote, and could not claim the vote was a “cure-all” to justify restoring Musk’s pay. “Taken together,” the problems with Tesla’s arguments “pack a powerful punch,” she wrote. Tesla shares fell 1.4% in after hours trade, after the ruling. McCormick also ordered Tesla to pay the attorneys who brought the case $345 million, well short of the $6 billion they initially requested. She said the fee could be paid in cash or Tesla stock. “We are pleased with Chancellor McCormick’s ruling, which declined Tesla’s invitation to inject continued uncertainty into Court proceedings," said a statement from Bernstein Litowitz Berger & Grossmann, one of the three law firms for the plaintiff. The law firm also said it looked forward to defending the court's opinion if Musk and Tesla appealed. Musk and Tesla can appeal to the Delaware Supreme Court as soon as McCormick enters a final order, which could come as soon as this week. The appeal could take a year to play out. After the January ruling, Tesla shareholders flooded the court with thousands of letters arguing that rescinding Musk's pay increased the possibility he would leave Tesla or develop some products like artificial intelligence at ventures other than Tesla. Attorneys for shareholder Richard Tornetta, who sued in 2018 to challenge Musk's compensation package, had argued that Delaware law does not permit a company to use a ratification vote to essentially overturn the ruling from a trial. McCormick in January found that Musk improperly controlled the 2018 board process to negotiate the pay package. The board had said that Musk deserved the package because he hit all the ambitious targets on market value, revenue and profitability. But the judge criticized Tesla's board as "beholden" to Musk, saying the compensation plan was proposed by a board whose members had conflicts of interest due to close personal and financial ties to him. After the January ruling, Musk criticized the judge on his social media platform X and encouraged other companies to follow the lead of Tesla and reincorporate in Texas from Delaware, although it is unclear if any companies did so. The judge in her January ruling called the pay package the "biggest compensation plan ever - an unfathomable sum." It was 33 times larger than the next biggest executive compensation package, which was Musk's 2012 pay plan. As of Monday, the pay package was worth $101.4 billion, according to Equilar, a compensation consulting firm. Musk's 2018 pay package gave him stock grants worth around 1% of Tesla's equity each time the company achieved one of 12 tranches of escalating operational and financial goals. Musk did not receive any guaranteed salary. Tornetta argued that shareholders were not told how easily the goals would be achieved when they voted on the package. https://finance.yahoo.com/news/delaware-judge-rejects-request-restore-215608088.html
Tesla stock target raised at Bank of America after Giga Texas visit AuthorSam Boughedda Stock Markets Published 05/12/2024, 11:22 pm Tesla stock target raised at Bank of America after Giga Texas visit © Reuters Bank of America raised its price objective for Tesla (NASDAQ:TSLA) shares to $400 from $350 on Thursday, citing enhanced growth confidence following a visit to Tesla's Giga Texas factory in Austin. The bank said the visit included meetings with investor relations, factory tours, and test drives. "The trip gave us increased confidence that TSLA is well-positioned to grow in 2025+ with its core EV business (new vehicles will expand its TAM) and launch of its robotaxi offering, and longer-term from its investments in Optimus," said the bank's analysts, reiterating their Buy rating on Tesla. "TSLA showcased the capabilities of FSD, which were impressive and much improved from prior versions," stated BofA. The bank said vehicles using FSD versions 12.5 and 13.2 navigated challenging roads autonomously, and Tesla projects interventions of once every 10,000 miles soon—a benchmark for its anticipated 2025 robotaxi launch. Compared to Waymo's milestones, Tesla's rapid AI compute expansion using 50,000 H100 chips positions it strongly, according to the bank. They note the Optimus robot program is also progressing. Tesla uses these robots for internal tasks, like sorting 4680 battery cells, with plans to scale production to 1,000 units by 2025. Enhanced training and expanded compute resources are expected to accelerate Optimus's development, potentially reducing production costs significantly by 2026. BofA anticipates Tesla's margin growth to transition from hardware-focused to software-driven, leveraging premium services like FSD and connectivity. The analysts noted that Tesla's AI and robotics initiatives could even justify an equity raise to expand compute capacity, a move they believe investors would welcome.
Yeah, Tesla is done with. Musk now working with Trump... It's over. Onto other news, TSLA hits 375 in after market Thursday Dec 5. Shorts are not having a good quarter, oh well. It looks like globally Q4 may be Tesla best quarter ever, at least that's the case for China, and thus 2024 may be Tesla's best year ever. 2025 will certainly be exciting.
Why is Tesla climbing so fast? Here are my thoughts after crisscrossing bits of information from the web. All comes down to teleoperation. FSD is improving incrementally and there are just not enough FSD drivers and too many imponderables feeding the AI driven brain to resolve all possible issues for true FSD (level 5 approval) probably for another 5 to 10 years. So how can Musk brag about Robotaxis coming out next year? Sure, his propensity for exaggerations is legendary, but hear me out... Teleoperation. It's not novel, it's used around the world to operate port equipment, it's used to operate sophisticated military drones and now Musk will use teleoperation to operate Robotaxis. He flaunted this capability to the world at his Robotaxis show and all the naysayers came away with is, he's cheating he has operators in the background! In effect, put humans in front of a screen with a steering wheel, gas and brake pedals (like a video game set up) that sees what an actual robotaxis on the street sees and plugged to AI learning in the background. Now you're basically performing trick "autonomous" driving, which is really teleoperated driving. If that works (it will) we can expect several hundred teleoperators in cubicle centers driving Robotaxis 8 hours a day until AI produces an FSD far more accurate than the last years of Tesla buying beta testers willing to pay $99/month to feed the AI. This could take a year or two and will require regulatory approvals along the way, but it will speed up FSD development "by orders of magnitude" (as Musk loves to repeat). Very recently Brad Gerstner, who owns lots of TSLA and Uber shares, took a trip down to Tesla Austin. Upon his return, he sold all of his Uber shares and loaded up on TSLA.
I personally think there is no way to make it work. No amount of AI is going to overcome the deficiency of a vision only system. I know it sounds strange because humans do just fine with vision only, but I actually think we are using way more sensors in our body. We can feel the road example, which is necessary when driving in snow or rain. Teleoperation will actually show how difficult it is. I saw a great video on how far behind SpaceX is with what was promised. They were supposed to already be on the moon with all hte money they were given, and yet, they can't get that massive starship into even orbit and have already used up all their money. They apparently complain how much it cost NASA to send an astronaut into space, and their price is just a little bit lower. So even with SpaceX, Elon is just another grifter. I believe the only reason that the stock is going up is because of the Trump effect. I'm hoping that with DOGE, Elon doesn't think he can continue to give himself and his companies money while cutting out lots of other things. But I also wouldn't be surprised in the slightest. I have also seen enough videos that show that for mass adoption, a plug-in hybrid will make the most sense, not all electric vehicles. The entire robotaxi event was created after a leaked report that there was no model 2. So it was thrown together, with the "next year" tagline which he has lied about for a decade. The fact that people are still falling for it is amazing. I would absolutely love for Elon to have the power to cut regulation, put his robotaxi on the street, have the public evaluate it and show countless videos of the huge amount of accidents that will happen, and then we can finally put all this nonsense behind us. Its not a trillion dollar company.