Tesla’s German car sales more than halved in July, and that’s definitely something to unpack. It’s not exactly a ringing endorsement of the brand in a country known for its discerning car buyers. The numbers are striking – a significant drop in sales suggests something’s not quite clicking. And it’s interesting, because at the same time, other brands, particularly Chinese EV maker BYD, are seeing their sales in Germany jump, nearly quintupling in July. It’s a stark contrast that raises questions about Tesla’s appeal, or perhaps the perception of its appeal, in this crucial European market.
This dramatic drop in sales prompts a lot of thought, almost like watching a slow-motion car crash.… Continue reading
Tesla’s board has approved a new compensation package for CEO Elon Musk, potentially worth $29 billion, despite ongoing legal challenges to his 2018 performance award. The package, consisting of 96 million shares at a discounted price, acknowledges Musk’s contributions despite his not receiving meaningful compensation in years. This decision comes as Tesla navigates challenges including falling sales, political backlash due to Musk’s involvement in politics, and a shift towards AI and robotics under his leadership. While Tesla shares have declined this year, the board believes Musk’s focus on AI and robotics will drive future growth.
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Tesla has awarded Elon Musk $29 billion in shares to incentivize him to remain at the company, particularly amidst the intensifying competition for AI talent. This move comes as the company faces a court decision regarding Musk’s 2018 pay package. The board emphasized Musk’s crucial role in leading Tesla’s transformation into an AI and robotics-focused company. The carmaker says if Musk’s 2018 pay deal is reinstated, he will forfeit the latest share award to avoid a double-dip.
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In a recent trial, a federal jury found Tesla partially liable for a 2019 crash involving its Autopilot system, awarding the plaintiffs $43 million in compensatory damages and $200 million in punitive damages. The jury determined that Tesla was one-third responsible for the fatal crash, which occurred when the driver and the Autopilot software failed to brake at an intersection. This verdict is a setback for the company, as they are attempting to convince the public and regulators that their self-driving technology is safe. Tesla plans to appeal the decision, maintaining that the driver was solely at fault.
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Tennessee has approved a no-cost lease of a parking lot near the Capitol to The Boring Company, allowing them to begin the Music City Loop project. The decision, approved unanimously by the State Building Commission Executive Subcommittee, faced public criticism and concerns from Democratic lawmakers regarding transparency and the benefits for Nashville residents. The public and lawmakers questioned the process, the impact on landowners, and the appropriateness of providing public land to a private company, particularly as The Boring Company had already begun site preparation before the vote. Despite these concerns, the lease was approved, prompting further criticism and discussion of potential legal action.
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A U.S. Senate investigations subcommittee report revealed the Department of Government Efficiency (DOGE), implemented by Elon Musk, wasted over $21 billion in its first six months. The report highlighted significant waste from mass layoffs of federal employees, resulting in $14.8 billion spent on early retirement packages and $6.1 billion on severance. Furthermore, DOGE’s funding freezes led to lost interest payments, spoiled goods, and cuts to programs that generated more revenue than they cost to operate. This included the Consumer Financial Protection Bureau (CFPB), and public health research cuts. Long-term projections suggest that the DOGE initiatives could cost taxpayers significantly more in the future.
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In a recent turn of events, Trump made unfounded claims about elite Democrats involved in the Jeffrey Epstein scandal, further fueling speculation. While suggesting he possesses information about these individuals, Trump has yet to order the release of related files, raising questions about his motives. This contradiction undermines his narrative that the Epstein scandal is a Democratic plot. Furthermore, Elon Musk’s endorsement of a potential pardon for Ghislaine Maxwell highlights Trump’s vulnerability concerning the case, as he may be attempting to use his position to protect himself.
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Musk ordered shutdown of Starlink satellite service as Ukraine retook territory from Russia, and the immediate reaction to this revelation, particularly in the context of present-day events, is a complex mix of shock, anger, and disbelief. It’s hard not to be taken aback by the idea of a private individual, wielding such influence over a critical aspect of warfare, effectively making battlefield decisions. The fact that this involved a shutdown of Starlink service, a crucial communication lifeline for Ukrainian forces, raises serious questions about motives, allegiances, and the lines between private enterprise and geopolitical power.
Given the current tensions, it’s unsurprising that many instantly jumped to conclusions, fueled by a prevailing distrust.… Continue reading
Reports indicate that Meta CEO Mark Zuckerberg is facing allegations of infidelity, with claims of a “months-long, discreet relationship” corroborated by multiple sources within the tech industry. These accusations have triggered scrutiny of Zuckerberg’s public image and leadership, especially considering his previous controversies. While no public statements have been made by Zuckerberg or Meta representatives, the allegations have been acknowledged by Elon Musk, with a humorous nod to Zuckerberg. Industry observers suggest the scandal could have significant implications for Meta, as public and shareholder sentiment may play a role in how the tech giant navigates the controversy.
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Neuralink, Elon Musk’s health tech company, filed as a “small disadvantaged business” with the U.S. Small Business Administration shortly before a financing round that valued the company at $9 billion. This designation, which could provide preferential access to federal procurement opportunities, requires the company to be at least 51% owned and controlled by “disadvantaged” individuals. The filing, which listed Neuralink executive Jared Birchall as the contact person, occurred during a period when Musk was leading the Trump administration’s Department of Government Efficiency, which targeted diversity, equity, and inclusion initiatives. The company’s technology aims to develop a brain-computer interface (BCI) system to help people with severe paralysis.
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Matt Underwood 
John Q. Hosedrinker