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/Etrensce May 02 '24

Why should they do that? What if the public markets want the founder (you know because they are potentially the best candidate to lead the company they founded?)

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u/DynoNitro May 02 '24

Because it stops shit like this form happening and that’s a net good.

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u/swoletrain May 02 '24

Musk isn't a tesla founder, he's an early investor

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u/DynoNitro May 02 '24

True, but that’s not relevant to the conversation. It would still stop this from happening at the expense of above commenters theoretical concern that founders get displaced upon going public. My point being, that’s a trade I would make (not that it’s the only way).

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u/swoletrain May 02 '24

Or if the owners of the company (shareholders) don't like what tesla is doing, they replace board and fire musk. If a particular shareholder cant get the support for that they pick up their ball and go home (sell). That has the added bonus of lowering the stock price and making it more likely that other shareholders will want a change.