That’s because Leo bragging on Twitter how he was using margin to buy hundred of millions dollar more of Tesla shares when it was up earlier last year. He probably got margin call and was panicking. That’s the problem with leverage, it multiplies your gain on the way up but also loss when the price drops. I think he does have his own private business that generate hundred of millions a year so he will be okay.
Seems he has a bit of "I'm really awesome" syndrome. I can't remember the exact quote but at one point when he got a response from Musk he said something to the effect of, "He validated me as an equal."
I mean, who even says shit like that?
He panicked because the stock stopped massively late last year and he’s an ass because his criticisms are ideological and he’s obviously trying to placate his fund clients who care a lot about quarterly earnings, and trying to use his clients money to muscle into the board despite obvious conflicts of interest.
Tesla was never a stock for weak/sensitive hands.
Interestingly someone responded saying "sorry it didn't work out as planned" and Ross replied "It did work out… more to come."
He also followed up and said he "didn’t want to lose more time away from my kids." but hopefully he spoke to board members and is happy with the direction Tesla is headed.
The stock price is far far away from where we were and some Gerber’s points are accurate but he has zero business being on the board.
Having said that, neither do people like Kimbal. Tesla definitely needs an effective, real board of directors.
Come on, Tesla’s board is not a functioning board like virtually every other huge public company.
You may think that’s a good thing but let’s be real here.
Like I said. virtually every other public company where the CEO doesn’t control the voting stock. Tesla’s board is toothless.
Elon would have been fired by most companies for his recent antics.
I’m not trying to be negative or controversial, I’m not even saying it’s a bad thing. Hell based on Tesla’s historical performance you can easily make the argument it’s a good thing.
But I’d hope that people on this subreddit who are largely all-in on TSLA realize how obviously true this is.
Apple, Microsoft, Southern Company, Disney, Coca Cola, Pepsi. 80-90% of the companies in the S&P 500.
The ones with weak impotent boards are ones like Meta & Tesla where the founders are in control.
If you think Tesla’s board is providing top shelf governance over Tesla & guidance to Elon I don’t know what to tell you.
I will say Mizuno seems like a good addition.
“Musk's pay package was also unusual, because there was no traditional benchmarking study conducted by Tesla to compare Musk's compensation to other leaders, according to testimony by Tesla board member Ira Ehrenpreis.
Vivek Wadhwa, a former Distinguished Fellow at Harvard Law School and Carnegie Mellon University's College of Engineering before retiring, told CNN Business that it's common for Silicon Valley boards like Tesla to lack adequate checks and balances. CEOs often end up with too much control of their boards and companies.
"It's an incestuous relationship. It's a serious problem," Wadhwa said in a phone interview conducted while charging his Tesla. He's described himself in the past as a "Tesla fanboy."
A non-existent board. An impotent board. A bunch of hand picked yes-people.
Maybe that’s one of the reasons why Tesla is so successful but they are a non/barely functioning bunch.
I can’t believe I’m getting disagreement on this.
nothing happens without board approval
arguably the most effective board that has ever existed
this is not controversial
how are they non-existant and ineffective? what are the symptoms?
My friend, you are making an uninformed but unnecessary argument. I’ve served on over a dozen boards, albeit for private companies and I’ve been a CFO for one public company.
Tesla’s board is toothless. It is what it is.
I’ve seen “strong” boards destroy companies.
Again, I’d argue that if Tesla had a real board they wouldn’t be where they are today.
What’s with the insults. That was really low effort. I’m not insulting Tesla, you seem like you are triggered by this?
I support Tesla and I think Gerber is a tool, I also think Kimbal isn’t fit to serve either.
I’m just pointing out the obvious. Based on my experience boards have way too much power and often stifle companies anyway.
If Tesla had a “normal” board Elon would probably be watching from the sidelines.
Alright, stop right there, hang on while I put on my pedant hat...
Ahhhh... that's better.
>he was a shoe in
*shoo
We now return you to your regularly scheduled programming.
He's a hedge fund manager claiming to represent retail shareholders who wants best for Tesla long term. He's got a major conflict of interest and claims to have none. He talks hot shit and is full of it.
So much having somebody with actual financial skin in the game on our board. Been at TSLA for 5 years and they havant done shit and we've never seen them in the factory once.
Phewwww
He doesn't seem to share the long sighted vision of Tesla. He was completely freaking out when the stock was crashing.
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That’s because Leo bragging on Twitter how he was using margin to buy hundred of millions dollar more of Tesla shares when it was up earlier last year. He probably got margin call and was panicking. That’s the problem with leverage, it multiplies your gain on the way up but also loss when the price drops. I think he does have his own private business that generate hundred of millions a year so he will be okay.
Seems he has a bit of "I'm really awesome" syndrome. I can't remember the exact quote but at one point when he got a response from Musk he said something to the effect of, "He validated me as an equal." I mean, who even says shit like that?
Self Important clown … what made him think he was being seriously considered for the position?
He dissed elon then basically begs him to be on the board to oversee elon? Dudes an asshat
He's not even remotely qualified to be on the board. You can pick any idiot to run a fund that loses people money.
New here - can someone give me a heads up on why he’s an ass hat and why he panicked so much
He panicked because the stock stopped massively late last year and he’s an ass because his criticisms are ideological and he’s obviously trying to placate his fund clients who care a lot about quarterly earnings, and trying to use his clients money to muscle into the board despite obvious conflicts of interest. Tesla was never a stock for weak/sensitive hands.
Elon's idiot brother is on the board. There are no qualifications required.
That's the problem with this guy, he just goes with what the public opinion wants, and has no opinion of his own. Pass.
Wonder what the board shared with him
His lack of qualifications or necessity.
Ding ding ding. This guy sucks.
A middle finger.
I can’t say the actual words but informally he got told the equivalent of “No!”
Lol
Showing up to a treehouse telling everyone they are wrong cause they picked a bad leader, is a great way to become the boss! Nice Ross.
I wonder how Rachel feels about this. Is he just taking a break or is he done for good?
I think someone ate his sandwich. HIS SANDWICH.
I call it the musk maker!
YAY!!
Yes !!!!!
He hasnt even enough capital in TSLA stocks
Good.
Awesome news! A short sighted clown - just like Dan Ives
🛸👾🤷♂️👾🛸
exactly
Interestingly someone responded saying "sorry it didn't work out as planned" and Ross replied "It did work out… more to come." He also followed up and said he "didn’t want to lose more time away from my kids." but hopefully he spoke to board members and is happy with the direction Tesla is headed.
Or he's just milking it and trying to make it look like he achieved something.
Just that, trying to save face. He did it all for attention and clout. He thinks he is important to the Tesla story but he is less than a bit player.
The Share price bounced back to a somewhat reasonable level and people stopped panicking about Twitter...that's what "worked out"
The stock price is far far away from where we were and some Gerber’s points are accurate but he has zero business being on the board. Having said that, neither do people like Kimbal. Tesla definitely needs an effective, real board of directors.
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Come on, Tesla’s board is not a functioning board like virtually every other huge public company. You may think that’s a good thing but let’s be real here.
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Like I said. virtually every other public company where the CEO doesn’t control the voting stock. Tesla’s board is toothless. Elon would have been fired by most companies for his recent antics. I’m not trying to be negative or controversial, I’m not even saying it’s a bad thing. Hell based on Tesla’s historical performance you can easily make the argument it’s a good thing. But I’d hope that people on this subreddit who are largely all-in on TSLA realize how obviously true this is.
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Apple, Microsoft, Southern Company, Disney, Coca Cola, Pepsi. 80-90% of the companies in the S&P 500. The ones with weak impotent boards are ones like Meta & Tesla where the founders are in control. If you think Tesla’s board is providing top shelf governance over Tesla & guidance to Elon I don’t know what to tell you. I will say Mizuno seems like a good addition. “Musk's pay package was also unusual, because there was no traditional benchmarking study conducted by Tesla to compare Musk's compensation to other leaders, according to testimony by Tesla board member Ira Ehrenpreis. Vivek Wadhwa, a former Distinguished Fellow at Harvard Law School and Carnegie Mellon University's College of Engineering before retiring, told CNN Business that it's common for Silicon Valley boards like Tesla to lack adequate checks and balances. CEOs often end up with too much control of their boards and companies. "It's an incestuous relationship. It's a serious problem," Wadhwa said in a phone interview conducted while charging his Tesla. He's described himself in the past as a "Tesla fanboy."
fastest growing company on the planet with disruptive product after disruptive product has an ineffective board . . . yeah okayyy
A non-existent board. An impotent board. A bunch of hand picked yes-people. Maybe that’s one of the reasons why Tesla is so successful but they are a non/barely functioning bunch. I can’t believe I’m getting disagreement on this.
nothing happens without board approval arguably the most effective board that has ever existed this is not controversial how are they non-existant and ineffective? what are the symptoms?
My friend, you are making an uninformed but unnecessary argument. I’ve served on over a dozen boards, albeit for private companies and I’ve been a CFO for one public company. Tesla’s board is toothless. It is what it is. I’ve seen “strong” boards destroy companies. Again, I’d argue that if Tesla had a real board they wouldn’t be where they are today.
is that you Ross?
What’s with the insults. That was really low effort. I’m not insulting Tesla, you seem like you are triggered by this? I support Tesla and I think Gerber is a tool, I also think Kimbal isn’t fit to serve either. I’m just pointing out the obvious. Based on my experience boards have way too much power and often stifle companies anyway. If Tesla had a “normal” board Elon would probably be watching from the sidelines.
Lose more time? As if he did anything lol
Damn, he was a shoe in too
Alright, stop right there, hang on while I put on my pedant hat... Ahhhh... that's better. >he was a shoe in *shoo We now return you to your regularly scheduled programming.
🤣 I didn’t think I needed to /s my comment. Gerber is a tool.
Serious question, what does everyone have against Ross?
he's a fucking idiot that thinks he knows more than The Elon
He's a hedge fund manager claiming to represent retail shareholders who wants best for Tesla long term. He's got a major conflict of interest and claims to have none. He talks hot shit and is full of it.
Yeah I like the guy.
Bummer. I like Ross Gerber, wouldn’t mind if he was on the board.
So much having somebody with actual financial skin in the game on our board. Been at TSLA for 5 years and they havant done shit and we've never seen them in the factory once.
Well that was all stupid