The Wall Street Journal claims that investors are becoming increasingly enraged with CEO Elon Musk for failing to effectively manage the company during a moment of crisis as Tesla stocks continue to plummet this week.
Gary Black, a hedge fund manager who owns Tesla stock valued at over $50 million, tweeted, “There is no Tesla CEO today.”
Following a disastrous weekend for Musk, Tesla’s shares dropped more than 6% on Monday. Overall, since the start of the year, it has lost more than half of its worth.
The Twitter acquisition, which was a disaster and has been dogged by controversy since the beginning, is where the billionaire CEO continues to spend the majority of his time.
Tesla investors claim that as Twitter deteriorates, Tesla’s reputation is suffering severe collateral damage. Musk, who sold more than $19 billion in Tesla stock this year, $4 billion of which was used to finance his troubled acquisition of the social media company, has only recently started using Twitter to spread false information about COVID, make transphobic jokes, and lash out at former company executives.
Investors at Tesla are understandably unimpressed with Musk’s actions and hold him responsible for leaving his position with the automaker.
The market determined today that the Twitter issue has had a detrimental effect on the $TSLA brand, Black said. Whereas before EV purchasers took pride in driving their Teslas to friends or displaying them in their driveways, the Twitter debate is currently harming Tesla’s brand equity.
Tesla deserves a dedicated CEO, according to Ross Gerber, a longstanding Tesla investor, who also accused Musk of “working at another company.”
What Elon’s plans are would be helpful, Gerber continued.
Regardless of Musk’s Twitter saga, Tesla has had a terrible year. The worst year on record for shares has just passed.
As for overseeing both Tesla and SpaceX, Musk said over the weekend that “the teams there are so strong that often little is needed from me.”
That feeling more or less aligns with NASA Administrator and former astronaut Bill Nelson’s sigh of relief this week after learning that Gwynne Shotwell, not Musk, was in fact running SpaceX as president and COO.
In short, it appears like Musk is now doing considerably more damage to his company than good, especially in terms of his public image.
It’s unclear at this time if Tesla will be able to escape the enormous shadow he has put over all of his businesses. However, we’ll be keeping an eye on things.
Elon Musk’s ‘miracle’ Brain Chip: Help the Blind See and the PаrаlyzeԀ Walk
Recently, billionaire Elon Musk said that his technology company Neuralink developed will test implanting chips into the human brain in six months, after the company missed previously set timelines.
The company is developing brain chip interfaces that will allow disabled patients to move and communicate again, while working towards the goal of restoring vision, Elon Musk said on Nov. 30.
The principle of operation of the Neuralink chip is to implant electrodes in the area of the brain that controls voluntary movement, and then connect to a network in charge of processing, arousing and transmitting nerve signals.
Previously, Neuralink, based in the San Francisco Bay Area and Austin, Texas, successfully implanted chips in the brains of pigs and monkeys and recorded positive results. Specifically, the Neuralink chip helped the monkey to play games with his mind.
Neuralink chip helps monkeys can play games with their thoughts
Elon Musk said he will perform the first transplant into the brain of people, who have severe spinal cord injuries or quadriplegia, after being approved by the US Food and Drug Administration (FDA). .
“We want to be very careful and make sure the chip will work properly before we put it into people,” Musk said at the device public event.
Speaking to representatives at Neuralink headquarters lasting nearly three hours, Mr. Musk emphasized the pace of development of his device: “Initial progress, especially when implanting in humans, is likely to be very slow, But we’re working hard to stay on track.”
Elon Musk said the first two human uses for the Neuralink device are to restore vision and mobility in people with disabilities. “Even if someone has never had vision, for example they were born blind, we believe we can still restore vision,” he said.
It is known that the event was originally scheduled for October 31, but Elon Musk postponed the previous date without giving a reason.
Elon Musk, who runs electric vehicle maker Tesla, rocket company SpaceX and social media platform Twitter, is known for lofty goals like making Mars a “colony” of Earth. His ambitions for Neuralink, first announced in 2016, are similarly grand.
He wants to develop a chip that will allow the brain to control complex electronic devices and eventually allow paralyzed people to regain motor function as well as treat brain diseases such as Parkinson’s, dementia, and dementia. Alzheimer. He also gives information about combining the brain with artificial intelligence.
However, Neuralink is still behind the original plan. Musk said in 2019 he is aiming to get regulatory approval by the end of 2020. Then, speaking at a conference in late 2021 he hopes to begin human trials this year. .
However, the company completed studies of four people in Australia in 2021 and implanted its device in a patient in the US for the first time in July, Reuters reported.