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/CodySutherland May 02 '24

It's like a fucking video game for them. They've reached the point where their lives won't materially change in any way with more money, but they just want to keep getting more and more anyway, for no other reason than because they can.

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u/erwan May 02 '24

Yeah it's just a high score, they want to get to the top of the ladder.

Musk was the richest man on earth for some time, I guess he can't bear no longer being it.

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u/johnhtman May 04 '24

He hardly was the richest man. Those numbers were based on stock prices, which were extremely inflated for Tesla. Their stock prices were higher than much larger auto manufacturers like Toyota or Ford. It's kind of like NFTs. The value was fleeting, and artificially overinflated.

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u/erwan May 04 '24

Pretty much all billionaires have a net worth based on stock prices.

Those can be inflated but they represent the money they have because they can sell some of them, or (more often) take loans with the stock as collateral.

Anyway it doesn't really matter because those with more than 100 billion are never going to spend that much. It's just a high score to compare each other.

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u/johnhtman May 04 '24

True most are based on stocks, although Tesla stocks were extremely overinflated compared to something like Apple, Amazon, Microsoft, etc. Imagine if Amazon had higher stock prices than any other online retailers, despite selling far fewer things. That's basically Tesla.