The previous year, Musk had made an audacious announcement: His company, which was known-fetishized, actually-for its luxurious electric vehicles, would soon begin manufacturing a new sedan that it planned to sell for just $35,000, putting it within reach of the middle class.
Musk began walking in the crowd, slapping hands while his bodyguard occasionally yelled “No selfies, just high-fives.” Musk phoned other executives.
Musk himself would later estimate that Tesla was burning though up to $100 million a week as thousands of employees tried to build Musk’s dreadnought.
A previous employee remembered Musk saying that Tesla’s goal was to save the world.
At the party, Musk was scheduled to give the first 30 Model 3 customers-most of them employees-their automobiles.
Todd Maron, Tesla’s general counsel, said in defense of Musk that “There’s a lot of people outside Tesla who will sort of sugarcoat what they actually think of your performance, or of an issue, because they don’t really want to have the hard conversation.” Musk “Is someone who, I think, puts a lot of effort into forcing himself to be fully honest, and when he genuinely thinks someone has failed at something, he will let you know that he thinks you have failed at that and that the company requires that you do better so that we can achieve our mission and succeed.”
In January 2018, shareholders agreed to compensate Musk as much as $55 billion over the next 10 years, but only if the Musk continues to lead the company and hits 12 milestones, including a market capitalization of $650 billion, roughly 10 times what it’s worth today.
This article was summarized automatically with AI / Article-Σ ™/ BuildR BOT™.