The Fight Over Elon Musk’s $56 Billion Pay Package | Lawrence Fossi

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 27 May 2024

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 365 of Hidden Forces, Demetri Kofinas speaks with Lawrence Fossi; Lawrence worked as a commercial trial attorney until 2011 and as the portfolio manager for a family office until 2020. He has written extensively about the automotive company Tesla at Seeking Alpha under the pseudonym “Montana Skeptic” and now publishes at montanaskeptic.substack.com.

It’s been three years since we last devoted an episode to the electric car company Telsa and its superstar CEO, Elon Musk. Given the progress that’s been made in EVs in the years since, as well as the recent turmoil at Tesla, Demetri thought it would be a good time to check in on how things are going at America’s largest electric car manufacturer.

Demetri’s conversation with Lawrence revolves around a recent ruling in a 2018 shareholder lawsuit brought against Musk and members of the Tesla board over a pay package worth up to $56 billion. While the details of the lawsuit are especially relevant to Tesla shareholders—and you may be one of them if you’re invested in one of the many index funds that own Tesla shares—the spectacle of egregiously excessive executive compensation and the failure of captured boards to exercise fiduciary oversight is part of an alarming trend of corporate corruption that concerns everyone.

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Episode Recorded on 05/21/2024

Transcript

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0:00.0	What's up everybody? My name is Dimitri Kaffinas and you're listening to Hidden Forces, a
0:06.1	podcast that inspires investors, entrepreneurs and everyday citizens to challenge
0:12.3	consensus narratives and learn how to think critically
0:15.3	about the systems of power shaping our world.
0:18.8	My guest in this episode of Hidden Forces is Lawrence Fosy.
0:22.0	Lawrence served as a commercial trial attorney until In He has written extensively about the automotive company Tesla at seeking Alpha under the pseudonym
0:35.2	Montana Skeptic and now publishes at Montana skeptic.
0:39.2	Substock.com.
0:41.9	It's been three years since I last devoted an episode to the electric car company Tesla and its
0:47.5	superstar CEO Elon Musk given the progress that's been made in EVs in in the year since, as well as the recent turmoil at Tesla,
0:55.6	I thought it would be a good time to check in on how things are going at America's largest electric car maker.
1:01.6	Our conversation today revolves around a recent ruling in a 2018 shareholder
1:06.5	lawsuit brought against Musk and members of the Tesla Board over a pay package that was at one point
1:12.4	worth over a hundred and seventeen billion dollars.
1:15.8	While the details of the lawsuit are especially relevant to Tesla shareholders and you may be one of them,
1:21.0	if you're invested in one of the many index funds that own its shares.
1:24.6	The spectacle of egregiously excessive executive compensation and the failures of captured boards
1:30.1	to exercise fiduciary oversight is part of an alarming trend of corporate corruption that concerns everyone and which we discuss in more detail during the second part of today's episode.
1:41.0	If you want access to that part of the conversation, you can join our premium
1:45.2	feed and listen to the subscriber-only portion on your mobile device using your favorite
1:50.1	podcast app by going to Hidden Forces.
1:53.0	I.O. slash subscribe.
	...

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