WingNews logo WingNews
top | item 39199278

(no title)

pHollda | 2 years ago

Musk is getting robbed. At the time, everyone believed the challenges were too big to surmount and he would never actually achieve them.

He does and suddenly "oh the reward is far too much"?

discuss

order

dangrossman|2 years ago

Tesla was planning and projecting that it would meet the milestones in Elon's pay package before it was offered. They were not seen as insurmountable or unachievable goals, that was part of what made this case. Quoting the court's opinion:

> "During the December 12 meeting, the Board also reviewed Tesla’s then-current operating plan and projections. Ahuja developed, and Musk approved, the projections in December prior to the meeting (the “December 2017 Projections”). The one-year projections underlying the operating plan forecasted $27.4B in total revenue and $4.3B in adjusted EBITDA by late 2018, and thus predicted achievement of three milestones in 2018 alone. The three-year long-run projections (“LRP”) underlying that plan reflected that, by 2019 and 2020, Tesla would achieve seven and eleven operational milestones, respectively."

pHollda|2 years ago

I remember very clearly what everyone thought as it all happened in 2018. No one thought they could actually achieve all of the milestones. Everyone knows how much Musk overpromises. That they have is incredible and makes Musk totally deserving of the compensation.

kortilla|2 years ago

You only need to look to the “thinking of taking the company private” debacle to see how little confidence there was in Tesla achieving these goals.

ahahahahah|2 years ago

Wtf do you mean "suddenly"? The lawsuit was filed almost immediately after the pay package was approved.

Also wtf do you mean everyone believed? The company's own plan has then easily hitting like 80% of the goals in just two years. We're they lying about that? Hell, maybe that's just as bad or worse.