Grappling with tweet aftermath, Musk acknowledges exhaustion

17 August, 2018, 23:46 | Author: Kenneth Collins
  • Tesla Gigafactory thefts whistleblower

It's not clear why they're bothering Musk now more than before, but it might be because Tesla's hard year (Model 3 production delays and Model X crash that has dropped stock prices since March) made more short-sellers turn to Tesla, or because Musk's own activities (say, a positive quarterly earnings call) have cost the short-sellers huge sums.

The paper said the swashbuckling CEO of the electric auto company choked up at times during the interview as he talked about working endless hours trying to meet production deadlines, spending his 47th birthday in June - every hour of it - at work and nearly missing his brother's wedding.

Musk told the newspaper that sometimes he did not leave the Tesla factory for three or four days straight, and that he had not taken off more than a week at a time since he was sick with malaria in 2001.

Tesla is searching for a COO or other No. 2 to take some duties and stress off of Musk, the NYT said.

The news sent Tesla shares soaring so much that trading was suspended in NY.

Musk told the Times that board members had not complained to him about his tweet.

Tesla's chief also said his friends "are really concerned" about him.

"They can have the job". There's a reason for the word 'stoned.' You just sit there like a stone on weed'.

"Why would I?" Musk reportedly replied.

Since then, Musk has offered follow-up explanations for the way he handled things, including an admission that he had seen his remarks as a good-faith effort to be transparent with his company's stakeholders.

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Asked if he regretted the tweet, he told the Times, "Why would I?" "They can have the reins right now". The newspaper reported, citing an unnamed source, that some board members have connected Musk's use of the medication to his after-hours tweeting.

Switching between manic laughter and tears, he admitted to working 120-hour weeks - unparalleled commitment from a man who is wholly consumed by his work.

Musk said he occasionally takes Ambien to help him sleep.

Despite the frenzy over Tesla's future, production of the pivotal Model 3 sedan-which has frequently kept Musk at Tesla's Fremont, California factory overnight-is defying the odds and going well, according to Evercore ISI analysts.

"In my opinion, Tesla's actions have placed investors, the public and Tesla employees at risk", Hansen's statement said.

His tweet set off a chain reaction which saw Tesla's shares climb 6.8 per cent to US$365.36. "I definitely did not get calls from irate directors".

Hansen alleged that Tesla, at the direction of Musk, installed surveillance equipment at the Gigafactory outside Reno, Nevada to eavesdrop on the personal cellphones of employees while at work, according to Meissner.

On the tweet where Musk said he was considering taking Tesla private, which is now being investigated by the SEC, he said it was an attempt at transparency.

The Times' reporting about the search for a number-two executive was included in an article about an interview with Musk, during which the Tesla CEO talked about his intense workload and discussed the moments that lead up to the tweet.

The board also said it hasn't even fully explored whether to go private.

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