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Barry Diller observed a dramatic shift in public sentiment towards Elon Musk since their appearance together at the 2024 US Open, where Musk was met with enthusiasm. Diller remarked that today, Musk would likely face hostility, reflecting backlash linked to his political ties and controversial statements, which have negatively impacted Tesla's reputation and stock. Investor Ross Gerber has called for Musk's exit, citing significant damage to the company's image and a bleak outlook unless Tesla can successfully launch its Robotaxi service.
Tesla is generating excitement for its upcoming Robotaxi event by showcasing its Full Self-Driving (FSD) technology, with a recent video demonstrating a vehicle navigating traffic near LAX. Meanwhile, Jeff Bezos-backed Slate has secured 100,000 orders for its electric pickup truck, posing a challenge to Tesla's Cybertruck. In legislative news, House Republicans are pushing a bill to eliminate the electric vehicle tax credit, raising concerns about potential disruptions in the auto industry.
The Cybertruck, with its cumbersome design and safety concerns, struggles to find its place in a competitive EV market, facing criticism for its lack of kid-friendliness and safety features. Despite being a status symbol, its sales are disappointing, prompting a shift in marketing strategies. As competitors like Ford and Rivian gain traction, the Cybertruck risks becoming a relic of overconfidence in automotive innovation.
Elon Musk's leadership at Tesla is under scrutiny as the company faces declining stock prices and sales. While the board has expressed confidence in Musk, potential internal successors include Tom Zhu, Vaibhav Taneja, and Omead Afshar, with JB Straubel, a co-founder and current board member, seen as a strong external candidate. Any leadership change would require Musk's approval, and analysts suggest that his departure could lead to a more cautious approach in Tesla's bold initiatives.
Tesla's sales in Sweden plummeted 80.7% in April, with registrations dropping to 203 from 1,052 a year prior, amid backlash against CEO Elon Musk's political activities. This decline contrasts with an overall 11% rise in new vehicle registrations in the country. As Musk plans to refocus on Tesla, investors are concerned about the impact of his political engagements on the company's performance, especially against rising competition from Chinese electric vehicles.
Tesla's board has reportedly initiated a search for a successor to CEO Elon Musk, reaching out to executive search firms. Long-time investor Ross Gerber suggested this move could provide Musk with an opportunity to step back and concentrate more on AI developments.
Prominent Tesla investor Ross Gerber has reacted to a report suggesting that Tesla's board sought executive placement firms to find a new CEO to replace Elon Musk. In response, Tesla's board chair labeled the report as "absolutely false," affirming Musk's position and the board's confidence in his leadership for the company's growth plans.
Elon Musk is stepping back from his role in the Trump Administration to focus more on Tesla, which recently reported its worst quarterly results in four years, with a 71% drop in income and a 20% decline in automotive revenue. The company faces challenges from tariffs, a lack of new models, and intensified competition, leading to a significant drop in its EV market share. Despite Musk's claims of a bright future with robotaxis and humanoid robots, investors are concerned about the immediate need for innovative products to revive sales.
Tesla investor Ross Gerber highlights that the challenges surrounding Elon Musk are not related to his involvement with DOGE, but rather stem from his controversial opinions on various topics that many find offensive. This has coincided with a significant decline in Tesla's profits.
Elon Musk plans to reduce his time at the Department of Government Efficiency (DOGE) while still dedicating a day or two weekly to the task force. Following a tumultuous earnings call, Tesla's stock rose 6%, but investor Ross Gerber criticized Musk's leadership, expressing doubts about the company's future and the viability of its autonomous vehicle plans. Tesla reported a 71% profit decline in Q1 2025, amid increasing market uncertainties and backlash against Musk's government involvement.
Ross Gerber
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