More To Blame Than Mary Jane As Musk Inhales Tesla’s Woes
It takes more than a toke on a joint by a CEO to bring down a company these days – and Tesla is no different. Even if it was live on television, Elon Musk’s marijuana episode at the weekend was just one of several bizarre decisions that have rattled investors in the US electric carmaker.
When Musk inhaled on-screen during a podcast interview with comedian Joe Rogan, investors shook their heads in disbelief, certain his public cannabis consumption would hit their shares – even though marijuana is legal in California. But it’s just one incident of several that are to blame.
There was Musk’s botched attempt to take the company private. As a result, Tesla lost its chief accounting officer, Dave Morton, because Musk wasn’t interested in hearing about potential problems involving the take-private transaction. Morton has since been appointed CFO at business software company Anaplan.
Morton joins a wave of executives who have recently left the company, including engineering leader Doug Field and communications chief Sarah O’Brien.
There have also been a series of bizarre tweets from Musk, several accusing the diver who saved the boys’ soccer team trapped a waterlogged cave in Thailand of being a pedophile.
The incidents have raised doubts about Musk’s ability to steer Tesla into the future and fuelled investor nervousness. Tesla shares have also been hit by a round of short selling, sparking more angry tweets, and have dipped accordingly.
Musk is also in charge of SpaceX, the company with a contract to ensure the smooth operation of the International Space Station – and wants to build a global space-based Internet along with a human settlement on Mars.
And in case you missed it: during his marijuana episode on TV, Musk said he would soon announce a new product that can make anyone superhuman. Another of his companies, Neuralink, has developed a device that is claimed to seamlessly combine humans with computers, making them “symbiotic” with artificial intelligence. – Chris Castellari