Musk circulated the comments on Wednesday in a companywide email, which CNBC obtained. He told staffers that Tesla needs to “demonstrate continued excellent performance,” and that “long-term, I believe very much that Tesla will be the most valuable company on Earth!”
Electric vehicle blog Electrek reported earlier on the email.
Although they increased 3.3% on Wednesday to $112.71, Tesla shares have lost nearly 68% of their value for the year. The stock has lost 42% of its value in December and is on track to finish with its worst month, quarter, and year ever.
Musk has attributed a portion of Tesla’s falling stock price to rising interest rates. However, detractors claim that his buyout of Twitter is a major factor in the decline, which as of Wednesday’s closing had cost the market cap $675 bιllιon this year.
Musk congratulated Tesla staff in the email for their efforts in 2022, urged them to work hard for a solid fourth-quarter result, and urged them to “volunteer to help deliver” cars to customers as early as possible on December 31.
In order to meet or surpass stated delivery objectives, Tesla recruits staff from across the organization during the last days of most quarters. Normally, only members of the sales and delivery teams are responsible for delivering new cars to consumers. The corporation has set a goal of 50% yearly growth in vehicle deliveries, but it has warned investors that it might not always achieve that goal.
Recently, Musk has been concentrating his attention on Twitter. In order to pay for the $44 bιllιon acquisition of the social media firm in 2022, the CEO of Tesla and SpaceX sold shares in his electric vehicle company for tens of bιllιons of dollars.
The following is the content of Musk’s Wednesday email to Tesla staff:
From: Elon Musk
Subj. Final Few Days
Date: Dec. 28, 2022 [Time Stamp removed]
Just a quick note to thank you for your hard work and congratulate you on exceptional execution in 2022!
Since we have a lot of cars arriving at the last minute, it is important to rally hard and do everything we can to get our cars to customers who have ordered them before midnight on Dec. 31. Also, every incremental car we produce that can be delivered in time also matters.
Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!
Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that. Long-term, I believe very much that Tesla will be the most valuable company on Earth!
Here are three lessons we can learn from Elon Musk to become better leaders
Elon Musk has imposed a reign of terror on Twitter since he took control, which goes against conventional knowledge about management.
Say goodbye to compassion and hello to tyranny. When Musk sacked half the Twitter staff and made fun of individuals who were let go purely out of convenience, he was channeling the likes of Jack Welch and Al Dunlap.
The problem with Musk is that his electric vehicles and rockets make it simple to overlook that, at 51 years old, he is older than most millennials.
In light of that, his insistence on a strict work ethic, blunt communication, and opposition to remote work shouldn’t come as a suгprisҽ.
For better or worse, we can learn from Musk as the restructuring of Twitter devolves into a circus-like imitation of The Apprentice and Big Brother.
1. Do not be afraid to try
One of Elon Musk’s first policy changes, Twitter Blue, was a complete failure when it was launched with little planning and at full speed.
Twitter Blue was banned as a result of the accompanying pandemonium with imposters, scammers, and many irate advertisers, but after some adjustments, the service was back online within a month.
The initial version was unquestionably a disastҽr. Regarding the second version, it’s still unclear when, if ever, the blue, gold, and grey Twitter ticks will become popular.
But the key takeaway is that, even if it means failing miserably at first, we must try something new if we wish to change the course of events.
Twitter was unprofitable for far too long because its former management were reluctant to make radical changes and instead preferred to remain in the secure confines of the status quo.
Nobody knows whether Musk will be successful in modernizing Twitter. However, he believed that making an effort, failing, and then trying again was always preferable than doing nothing at all.
2. Be upfront about your expectations
Many Twitter employees were furious and made the decision to leave when Elon Musk gave an ultimatum advising the remaining employees to expect 80-hour work weeks and fewer workplace privileges.
However, Musk did the right thing by being honest about his expectations, regardless matter how unpopular they are, rather than concentrating on the message’s content.
Managers frequently hesitate to express their true desires out of concern that they would come across as unrealistic. An example of this is the hour at which office workers should leave for the day, with those who do so silently punished.
The end outcome is frequently bad and fosters inefficiency when we are not open about expectations.
Employees are continually forced to speculate about what their superiors really, really want rather than focusing on their work. For managers, the performance of their workers ultimately frustrates them.
However, all the unneeded strҽss could be easily avoided if we were upfront and consistent with our expectations from the beginning.
3. Never be impulsive in business (and life)
The Twitter tale has always been a narrative of impulsive behavior.
Musk negotiated an agreement to buy the platform, but after trying and failing to get out of it, he experienced buyer’s remorse.
It was totally preventable that there would be mayhem at Twitter afterwards. laying off employees and then calling back a few of them announcing a new feature just to have it discontinued a week later. It was painfully obvious how hastily each of these choices had been made.
It would be better if Musk had reined in his fast and furious decision-making process, but his time as CEO of Twitter has become a lesson to all of us.
Unlike billionaires, being impulsive will be our undoing since we do not have the runway Musk has to scrҽw up. Neither do we have the staff or resources to help clean up the mess.
Remember, jumping into decisions without thinking, hoping it will lead to a serendipitous encounter or outcome, is mostly the stuff of movies.