Slate Money: Why Musk Lost $56 Billion

Slate Technology

Slate

Society & Culture, Technology, History

4.6 • 636 Ratings

🗓️ 3 February 2024

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week, Felix Salmon, Emily Peck, and Elizabeth Spiers discuss why a Delaware judge blocked Tesla’s $55 billion compensation package for Elon Musk and what it means for his Mars dreams. Also: the meteoric rise and catastrophic fall of DNA testing service 23andMe, and Felix gives us a glimpse into the world of Sotheby’s and mega-high-end art auctions. In the Plus segment: News platform The Messenger had $50 million to spend. Why did it fold in less than a year? If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get an ad-free experience across the network and an additional segment of our show every week. You’ll also be supporting the work we do here on Slate Money. Sign up now at slate.com/moneyplus to help support our work. Podcast production by Jared Downing and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello!
0:12.5	Welcome to Slate Money, your guide to the business and finance news of the week.
0:18.7	I'm Felix Hammond of Axios with Emily Peck of Axios.
0:21.6	Hello, hello. And Elizabeth Spires, New York Times.
0:24.4	Hello. And we have a billionaire heavy episode this week. We're going to talk about Elon Musk,
0:31.5	who had his $50 billion pay package rescinded by the Chancellor of Delaware. We are going to talk about 23 and
0:40.1	me, which was a hugely successful company before it became a hugely unsuccessful company.
0:45.0	We're going to ask what happened there. We are going to talk about Sothebyz, which is a place
0:50.0	where rich people hang out buying and selling art and what they just announced this week.
0:53.6	We have a Slate Plus segment on The Messenger,
0:57.1	which was another piece of billionaire whimsy
0:59.2	where a bunch of cash got incinerated in the service of not entirely obvious what.
1:04.9	It's all coming up on Slate Money.
1:12.3	There are days when you're hungry for McDonald's.
1:16.0	Then there are days when you're Big Arch hungry for McDonald's.
1:20.2	You'll get to know the difference.
1:22.0	New Big Arch for Big McDonald's hunger.
1:27.5	Until 9th of September, from 11am,
1:29.9	participating restaurants only, subject to availability.
1:32.2	Here's the truth about AI.
1:34.3	AI is only as powerful as the platform it's built into.
1:37.9	ServiceNow puts AI to work for people across your business,
	...

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