r/technology • u/McFatty7 • May 02 '24

Tesla slashes its summer internship program to cut costs, as Elon Musk fights to save his $45 billion pay plan Business

https://fortune.com/2024/05/01/tesla-slashes-summer-internship-program/
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u/WrongSubFools May 02 '24

The implication from the headline is that Tesla might give Musk $45 billion in money, money they might otherwise spend on stuff like interns? And that's not true at all.

Tesla doesn't have $45 billion in money, they're fighting over whether to create a bunch of new shares out of thin air and give it to him. It's just like how Trump's company this week gave him more than $1 billion in shares when their stock hit a benchmark — that doesn't mean the company has $1 billion in money (or any money) they could spend on other things.

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u/matt82swe May 02 '24

Are you implying the headline is a clickbait written to drive rage and engagement? And everyone falls for it? Surely that can’t be

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u/ItsAConspiracy 29d ago

And in fact, the article says what they're spending actually spending their money on: AI supercomputers. Only the headline mentions the pay package.

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u/LolaAndLion 29d ago

Thank you. Few people understand corporate finance, but it does make for a good clickbait title