Elon Musk has many connections in the business world, but experts say this “yes always” spiral may be the cause of Musk’s own downfall.
William Klepper, a professor at Columbia Business School, mentioned a parable as an example: “It’s a classic story of the emperor wearing no clothes, but the people were afraid and did not dare to speak out.” .
Most recently, Musk was yelled at by the audience at Dave Chappelle’s comedy show. The bιllιonaire said it was “the first time he had received such a strong reaction in rҽαl life”, while experts were not ᵴuгргιᵴeԀ.
In everyday life, Musk seems to be surrounded by too many winged compliments. The series of previously геvеаleɗ messages between Musk and some big names in the field of communication technology shows that the world’s richest man is greatly praised after deciding to make Twitter private.
According to Rosabeth Moss Kanter, a Harvard professor and author of “Think Outside the Building: How Advanced Leaders Can Change the World One Smart Innovation at a Time,” Elon Musk is surrounded by a cult culture.
“People want to build relationships with powerful people. That is to say, the people who are still considered “friends” are actually just “friends”, Kanter said.
Arthur Boni, a professor at Carnegie Mellon University, thinks Tesla’s board is a “recipe for Ԁιsasтer,” but for Sabina Nawaz, who has had the opportunity to partner with tech companies, it could be a recipe for Ԁιsasтer. is a positive sign.
“Great managers often build loyalty around them,” says Nawaz. “People will always be watching them. CEOs capitalize on this and proof that people always want to work with them.”
According to Professor Kanter, the lack of dissent can make Musk complacent and push his company into jeopardy, lasting losses, and Tesla is a prime example.
The last terrible month of the year has sent the stock down nearly 70% from last year – a drop enough to make it the worst performing stock of 2022 on Wall Street. Before recovering partially in the latest trading session, Tesla’s market capitalization was only $ 355 bιllιon, or nearly $ 900 bιllιon down from its peak in 2021.
However, it is unclear whether Musk will allow people close to him to voice his objections, according to Kanter. In the past, Musk has fired several Twitter employees for publicly opposing him on the social network.
Not only employees, but Musk’s partners themselves are implicated because of their unpredictable nature. According to BI, these people when they come to see Elon Musk at Twitter’s headquarters in San Francisco will often have to wait more than 1 hour. They also won’t be allowed to speak before Musk speaks to show “respect.” However, in return, the richest CEO in the world is comfortable watching videos on Youtube while the partner meeting is taking place.
Musk’s leadership style has come under heavy criticism since he took over Twitter nearly two months ago. One of the first “offҽnsivҽ” moves was to immediately fire some of the company’s top managers, then cut the workforce by more than half to optimize operating costs. The Tesla CEO is also said to have taken away many employee benefits, used Twitter polls to make important decisions but quickly reversed the plan.
According to Klepper, if Elon Musk does not find a way to turn the situation around soon, business partners may one by one leave.
“They put money in Musk’s company because they think they can make money here. Relationships are about ‘can you make me money’ and when they falter, the relationship changes,” Klepper said.
Of course, Musk also bears most of the responsibility, whether it’s arrogance, carelessness or simply boredom with his day job. His personal mistakes have become a “catalyst” that makes Tesla more miserable.
According to BI, Elon Musk is known for his rigid working style. He regularly sleeps at Tesla factories during production and does the same at the Twitter office as a testament to his “crazy work”. One employee also said that the Twitter CEO loves to explore, solve problems and program all night without sleep.
Earlier, Elon Musk shared that the process of building Twitter 2.0 was very difficult, and asked employees to work long hours, otherwise they would be forced to quit. The bιllιonaire also later scrapped telework policies and forced employees to work in-person at the office.