"In a sense, Musk is asking Tesla's shareholders to vote to approve an enormous payday to insure that he - and he alone - remains in control of the company's legions of humanoid robots (that do not exist). It was a very strange way to persuade investors to vote in favor of the proposal that's been put forward by the company's board. And it amounted to an unsubtle threat that Musk could simply pick up his ball and go play somewhere else."
"In an earnings call last night, Tesla CEO Elon Musk said he needs more control over Tesla, as well as a pay package that could be worth nearly $1 trillion, in exchange for building a "robot army." Otherwise, he could get ousted as CEO, and then, well, who would control the army?"
""My fundamental concern with regard to how much voting control I have in Tesla is, if I go ahead and build this enormous robot army, can I just be ousted at some point in the future?" Musk said. "That's my biggest concern.""
Elon Musk said he needs more control over Tesla and a pay package potentially worth nearly $1 trillion in exchange for building a robot army. Shareholders will vote on the compensation proposal and associated control arrangements. Musk warned he could be ousted as CEO after building the robots, raising questions about who would control them. The pay package ties payouts to ambitious milestones such as producing one million robotaxis and one million humanoid robots. Observers noted the robots do not yet exist and characterized the pitch as an unsubtle threat to investors.
Read at The Verge
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