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Elon Musk gives Tesla ultimatum: Another 12% of shares or no AI, robotics (media.kbin.run)

submitted 10 months ago by [email protected] to c/[email protected]

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Elon Musk gives Tesla ultimatum: Another 12% of shares or no AI, robotics

Although 95% of its revenue is automotive, Musk says Tesla is a robotics/AI company.

https://arstechnica.com/cars/2024/01/elon-musk-gives-tesla-ultimatum-another-12-of-shares-or-no-ai-robotics/?utm_brand=arstechnica&utm_social-type=owned&utm_source=mastodon&utm_medium=social

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[–] [email protected] 1 points 10 months ago

@[email protected]
He likes to copy from Theil’s playbook - here’s how that goes: “… as PayPal prepared to go public, Thiel offered the company’s board an ultimatum: he wanted more equity or he would quit. (Thiel denies any ultimatum.) The board granted him the equity. Shortly after PayPal began trading, in 2002, Thiel flipped the company, selling it to eBay for one and a half billion dollars. As soon as the acquisition closed, he issued a press release announcing his resignation.”