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Electrek

Special Electrek podcast: Is Elon Musk blackmailing TSLA for $100B, admitting to conflicts of interest?

Electrek

9to5Mac

Model, Musk, Vehicles, Evs, Technology, Clean, Tesla, 3, Electric, Automotive, Energy, Electrek, Leisure/automotive, Elon, Leisure

4.2602 Ratings

🗓️ 16 January 2024

⏱️ 81 minutes

🧾️ Download transcript

Summary

This is a special episode of the Electrek podcast in which we dive into Elon Musk's comments from last night requesting a 25% stake in Tesla in order to advance AI at the company, which he himself described as an AI/robotics company.

The Electrek podcast is generally live every Friday at 4 PM ET, but we are making a special episode today to discuss a strange situation.

If you want a primer before the podcast, you can read my article from last night: Elon Musk complains about his smaller stake in Tesla after wasting it on buying Twitter.

In a new tweet, Musk seems to admit to a serious conflict of interest and possibly even a breach of fiduciary duty toward Tesla shareholders.

https://twitter.com/elonmusk/status/1746999488252703098

The CEO says that he prefers building AI products at his new startup rather than at Tesla unless he receives a new compensation plan that would give him control over 25% of the company's shares.

Is this blackmail? Is this a conflict of interest? Join us live to discuss the situation.

The episode will start recording live at 11:15 AM ET. You can join us live on YouTube (or most other platforms):

https://www.youtube.com/watch?v=8su4AEc8uDY

Transcript

Click on a timestamp to play from that location

0:00.0

We are live for this special episode of the electric podcast.

0:11.3

We're not on our usual 4 p.m. on Friday.

0:14.9

This is going to be a one-issue podcast.

0:18.1

We're not going to review all the news of the week.

0:19.9

We're still going to have that later on in on the week. So stay tuned for that. But I am friend Lambert, your host as usual,

0:26.6

and I'm joined by Seth Winthrop, publisher extraordinaire, whose idea it was to go live and talk about

0:33.3

this because I think a lot of people don't don't really understand the magnitude of this,

0:39.7

right?

0:40.5

Yeah, I think that's the key here.

0:43.5

Also, I'm missing a powder day outside.

0:44.9

It's snowing.

0:46.2

So this is very special.

0:47.9

You know it's special when set is not on the slope with fresh powder.

0:53.2

So yeah, okay, let me, let's do a quick,

0:56.4

while people are still coming in right now, I know we posted the article about the podcast,

1:01.1

and I linked, of course, my article in there to get a little bit of a primer of the situation.

1:07.5

But for those that are not aware of the situation, so everything is about

1:11.1

Elon tweeting a single tweet last night, and then a bunch of follow-up and he went into

1:16.9

damage control for a little bit. But the core of it is like a potential conflict of, a pretty

1:24.2

clear conflict of interest and even a potential breach of fiduciary duty to

1:28.6

the shareholders that he admitted to last night, basically.

1:33.7

So we reported a bunch of times before about the potential conflict of interest with him starting

...

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