Musk decision to smoke pot shows CEO dazed and confused by tone
09 September, 2018, 07:42 | Author: Lawrence Cooper
But that's not it.
Tesla Inc's chief accounting officer resigned after just a month on Friday and a second senior executive was reported to be leaving as well, hours after chief executive officer Elon Musk smoked marijuana on a live webcast. His past jokes about tweeting after taking Ambien and drinking wine didn't seem so amusing anymore, and he defended his use of the prescription sleep aid in a New York Times interview.
Musk also warned that there would be "a lot of fuss and noise in the media" in the near term, seemingly an acknowledgement of the fallout from a 2 1/2-hour on-camera interview he participated in just hours earlier with comedy host Joe Rogan.
Shares of Tesla fell as much as 10% amid the hazy cloud of headlines, marking yet another instance of the controversial Musk giving ammunition to his detractors in the interest of cultivating an offbeat public persona. "Especially in light of what he's going through right now, from an optics perspective, I think those are the times you need to kind of hunker down and play a little bit of defence and not give any more to the naysayers".
Morton stated that "the level of public attention placed on the company" and "the pace within the company" caused him to reconsider his future.
Critics say his behavior has become reckless and that Musk should focus on running Tesla, which is facing intense pressure to speed up electric-vehicle production.
On Aug. 24, more than two weeks after blindsiding employees and investors with the tweet, Musk chose to keep Tesla a public company.
Musk's behavior is also a violation of Tesla company policy, which prohibits the use of illegal drugs.
Recreational marijuana is legal in California, but Musk had previously dismissed questions about whether he used the drug.
The ill-fated effort has prompted a U.S. securities investigation and a class-action lawsuit alleging Musk was trying to punish investors who bet against the company.
Kevin Kassekert and Felicia Mayo will lead the human-resources department, following the departure of former HR chief Gaby Toledano, who had been on leave since August.
"It's quite hard to run companies".
Separately, Musk touted the company's overall progress on Friday.
"It's time for Tesla and Elon Musk to grow up", Michelle Krebs, executive analyst at Autotrader, said Friday. I believe it is fine if it is done responsibly and appropriately and I am pleased that it is becoming legal in many states around the country.
The spring and summer were full of drama for Musk, as he tussled in person and online with analysts, short-sellers and a British diver who helped rescue a team of boys trapped in a cave in Thailand. Without his technical acumen and large-scale vision, companies like Tesla and SpaceX would never have materialized in today's world of risk mitigated profit motives.
As he prepares to leave the company, Ma is among China's richest men with a net worth estimated by Forbes at $38.6 billion. The company went public on the New York Stock Exchange in 2014 and has a market value of about $421 billion.
Marijuana consumption is legal in the state of California, where the podcast was hosted. "Weed is not helpful for productivity". In July he shocked investors by announcing on Twitter that he had funding secured to take his auto firm Tesla private.
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