6 years and 9 days ago, patron saint of $TSLAQ Jim Chanos went on CNBC to explain why he was shorting Tesla: Executive departures Stock has made no progress in years Earnings estimates falling, incinerating capital Production problems Tesla has nothing unique The competition is coming Falling behind in autonomous technology Since then, $TSLA stock rose in value by >10x, Kynikos Associates’ assets under management fell from >$6B to <$0.2B, Jim Chanos had to shut down his short fund, and many $TSLAQ members similarly incinerated their personal portfolios following his trade. Yes, more executives departed, and competition came (and went), but Tesla produced millions of the world’s best-selling EVs, $ billions of earnings and free cash flow, arguably the most unique design and technology available in consumer vehicles (with more in the pipeline), and state-of-the-art, AI-driven, autonomous technology that can scale. Tesla specializes in making the impossible merely late.
@ICannot_Enough Very half decade or so, Tesla has to do a complete organizational overhaul to reach the next level. That said, our executive tenure is unusually high at well over 10 years at Tesla.
@elonmusk Dim Thanos snapped his fingers and dusted half his money!
@elonmusk @ICannot_Enough Exactly. All companies do this.
@elonmusk @ICannot_Enough Is there an appetite at Tesla to lean on local owners clubs to help out at the store level with deliveries, knowledge transfer, etc?
@elonmusk @ICannot_Enough Indeed! The average tenure of Elon's most recent direct reports in this chart is 9.65 years.
@elonmusk @ICannot_Enough I'd actually worry more about the disruptive growth potential of @Tesla going forward if no executives were ever leaving
@elonmusk @ICannot_Enough When new compensation package??? 2 weeks??? 😂
@elonmusk @ICannot_Enough You are a very good CEO.
@elonmusk @ICannot_Enough People underestimate just how good Tesla is that execs practically work their whole career here 💯