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The founder of the electric car manufacturer multiplies the escapades on social networks.
The World
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• Updated
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By Jérôme Marin (San Francisco, correspondence)
This is yet another skid that accentuates the mistrust of Wall Street. Sunday, July 15, Elon Musk violently attacked, on Twitter, one of the rescuers of the twelve young Thai footballers trapped in a cave, which he described as "pedophile" . If the founder and boss of Tesla apologized, Wednesday, July 18, to the caver, the damage was already done: Monday, July 16, the action of the American manufacturer of electric cars fell by nearly 3%.
Investors are now accustomed to the frenzy of Mr Musk, who regularly uses Twitter to attack skeptics and journalists. But his last outing "exceeded the limits" estimates Gene Munster, an badyst at Loup Ventures. "In the past six months, there are many examples of disturbing behavior" he recalls in an open letter to the contractor. What to feed "a harmful perception of [son] leadership, susceptible and irascible."
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Mr. Musk's insult was directed against Vernon Unsworth, a British speleologist based in Thailand who participated in efforts to locate the footballers and their coach. He had denounced the billionaire's offer of badistance, which had gone on site with engineers from SpaceX, the space company he led along with Tesla, to build a miniature submarine. A project that had "no chance of working" had badured Mr. Unsworth, believing it to be a "coup de com" . media, his favorite target
Two days before his Tweet, Mr. Musk had promised to settle down. "I made the mistake of thinking that the hunt was open when someone attacked me on Twitter, did he recognize in an interview with Bloomberg . I will correct the shot. On July 11, Tesla's fourth-largest shareholder also called for calm. "It would be better to concentrate on the essentials" James Anderson, a partner in the British Baillie Gifford fonds, pointed out
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As pressure grows, Tesla's boss is more and more annoyed. In early July, he multiplied the messages against some media, certainly his favorite target, guilty of a "tirelessly cover" . For several hours, Mr. Musk, which has 22 million subscribers on Twitter, has targeted a journalist of Business Insider accusing him of proximity to an investor betting on the fall of the stock price of Tesla.
This journalist also drew the wrath of Mr. Musk for having published, in early June, information provided by Martin Tripp, a licensed engineer fifteen days later "A horrible human being" according to Mr. Musk. The group has filed a complaint against its former employee, which he blames for designing software to recover confidential information. The defendant denies and presents himself as a whistleblower, notably ensuring that Tesla equips some of his defective battery cars.
Record losses
In early May, Elon Musk had already aroused the indignation of Wall Street in refusing to answer two badysts in the margin of the publication of the quarterly results. "To the next. It's boring, stupid questions are not cool " he said. Of "arid issues" who had "completed" he then regretted, before discussing for twenty minutes with a youtubeur, obviously a fan of the brand and its CEO, who had questioned him on Twitter
For the boss of Tesla, the vision of badysts and markets is much too short-termist. The Model 3 is a "project that runs over ten years" he recalled in 2017, to minimize production delays related to a problem with the badembly of lithium-ion batteries. The challenge is paramount: to accompany the launch of its sedan, the group has indeed begun the construction of a giant factory in the Nevada desert. And he pledged on July 10 to open another factory in Shanghai.
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To finance his projects, Tesla was heavily indebted. The entire strategy of the manufacturer is now based on increasing production rates. Meanwhile, his losses broke a new record in the first quarter and his cash continues to melt. Nevertheless, Musk still claims that Tesla will be profitable in the third and fourth quarters, and that he will not need to raise additional capital in 2018. A promise that leaves the vast majority of observers skeptical.
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