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Elon Musk said that Bill Gates has a bet against Tesla worth billions of dollars and that Jeff Bezos is 'fine, I guess.'
It is time for an adult to assume control.
For decades, the same story has been repeating itself.
Under the guidance of a charismatic CEO, a startup grows and thrives. Following a plateau, things get a little easier. Customers' needs are now the company's primary concern, rather than producing new products on a regular basis. To ensure that high-quality items are continuously delivered on a wide scale, a new age of mundane everyday activities has begun, following the conclusion of the honeymoon period.
Every company will require a Tim Cook at some point in its history, however distant the possibility. Today, Tesla is that firm.
In the Tesla family, there is currently no one who can take over as the heir apparent. If Elon Musk decides to step down as CEO (and Technoking of Tesla) and focus on other businesses or his music career, no one is ready to take his place. In short, Tesla's CEO is Tesla's CEO. Everything he touches turns to gold.
Dismantling the corporation's public relations department, he now uses Twitter to disseminate company news. His last-minute idea was to include Falcon Wing doors on the Model X. In his view, it was possible to construct a car factory with near-total automation. For Tesla vehicles and services, he established the opportunity to pay with cryptocurrency, then removed it, and then returned it.
Musk acknowledges that he is the driving force behind the majority of new initiatives at Tesla because "I have to, not because I want to." It is beneficial to have a high level of involvement in a company's early stages. One person in charge of everything might be dangerous if a company's future depends on producing high-quality items.
Because of this, Model 3 production was delayed by several months, resulting in what CEO Elon Musk called "production hell." In the end, Musk acknowledged that his decision to build a plant that was almost entirely automated was a mistake. That decision resulted in a delay in the production of the Tesla Model 3.
The fact that Tesla is currently enjoying record profits and sales is undeniable. There are some drawbacks to the good news, even though it's excellent news. Single-handedly micromanaging an expanding business cannot keep up to speed as output increases. The CEO must be able to come up with random ideas without fear of retaliation, but trusted employees must be given the ability to execute their jobs and rein in problems.
Multiple recalls have been made by Tesla in the last few months, and the company is still plagued by reports of defective automobiles. And the introduction of new vehicles (such as the Cybertruck) is now set for at least next year. These are the kinds of issues that a CEO can only solve with the assistance of a capable group of people.
Tweets are also a part of the equation, of course. Many, many tweets.
Musk's Twitter feed is divisive, to say the least. It's also likely to harm the company's reputation. Tesla does not have a press office. Tesla's official Twitter account or that of CEO Elon Musk are the only sources of information for the general public. If the CEO's personal account stayed on track and just evoked the many benefits of owning a Tesla, that would be good. As a result, it's a combination of memes, insults, responses to sycophants, political perspectives, and odd Tesla updates.
Even as a CEO, you can't avoid the fact that comparing someone to Hitler on Twitter is going to reflect poorly on your business.
For the good of the company, Tesla needs to look beyond the next whim of CEO Elon Musk and plan for the future. A period when Elon Musk is no longer in charge. It would be ideal if things went like they did at Apple.
Apple's company was inextricably linked to its CEO, Steve Jobs, for many years. He saved the company from insolvency and, along with his employees, developed a long-lasting business that played an important role in the emergence of the smartphone. Apple would not exist today if not for Steve Jobs. In the end, however, it is impossible for a firm to remain under the control of one person.
In 1998, Tim Cook became Apple's senior vice president for worldwide operations, basically in charge of the company's day-to-day operations. Steve Jobs died in 2011, and before his death, he was named CEO of Apple. Cook has guided the company to revenue and profit increases of more than double. When compared to Jobs, Cook lacks the swagger or the vision. As an alternative, Cook surrounds himself with a team of clever individuals and ensures that Apple remains profitable and consistently produces high-quality goods.
Tesla is in need of a Tim Cook. The carmaker needs a leader (or leader in training) who can continue to supply enjoyable features like fart noises and video games while also being laser-focused on delivering automobiles on time to consumers without difficulties. When the time comes for a replacement, Tesla must ensure that its customers will have easy access to repair centers and spare parts. It doesn't matter if you like it or not, other automakers are following suit and offering their own electric vehicles to lure customers away from Tesla's Model 3.
Tesla's EV dominance could be overtaken by one of its competitors if it doesn't receive sufficient nurturing. There's nothing nurturing about Musk. A record number of vehicles have been delivered under his leadership but have been plagued by a steady stream of customer complaints about poor manufacturing standards. Those are issues that should have been dealt with long ago, if not already.
According to recent reports, Tesla has been delivering vehicles without a redundant steering controller—and not informing consumers of this missing part. If the vehicles are to be FSD-ready, this controller is required. It erodes client loyalty and deters new customers from joining the brand.
If a Tesla owner has a problem with their vehicle, getting it repaired can be a frustrating experience full of misunderstandings, long waits, and aggravation. A section of Musk's sycophantic followers has assaulted customers on Twitter for voicing their displeasure with the company, a group that Musk himself has failed to rein in.
Then there are the product recalls. ' For example, the Model 3 and Y have suspension problems, while the Model S and X have rusted power steering bolts. All of these issues were brought to Tesla's attention by the National Highway Traffic Safety Administration, which prompted Tesla to issue recalls. Some of the features that Tesla has put to their vehicles recently have to be removed. I find these recalls to be the most concerning of all.
Although every car has recalls, not every automaker has to reverse items that are judged unsafe because of these recalls. It is possible that the external speakers in Teslas driven by Elon Musk could obscure pedestrian warning sounds because of the company's push to allow drivers to play any sound they want while on the road. Additionally, it issued an upgrade that allowed automobiles to roll through stop signs rather than stop. Additionally, it had to be instructed to disable the ability to play video games while driving on the primary infotainment screen.
The "fun police," Musk said in response to the recalls. As a result, Tesla and the public benefit when the automaker works with the government agency to ensure the safety of our roadways for everyone, not just Tesla drivers who want to perform the Humpty Dance as they speed through a neighborhood.
Musk, Tesla, and its consumers will benefit from a long-term employee who has built confidence with the CEO, as well as with the company's board and customers. In order to keep the crowds happy when Musk steps down as CEO, the cult of personality around him necessitates that he fully embrace this person as a leader.
In the past, Musk has given up full ownership of one of his businesses. Although he is SpaceX's CEO, Gwynne Shotwell, the company's president and COO, also has leadership responsibilities. Shotwell is in charge at SpaceX, despite Musk's tweets to the contrary. Her role at SpaceX goes far beyond that of a spokesperson for the company's Starlink product, however she is the executive most usually seen representing SpaceX at industry gatherings. Shotwell, the company's president and COO, is in charge of the day-to-day running of the company. Shotwell is ready to assume Musk's place in the event that he decides to stand down from his current role.
That must be a relief for SpaceX, its board, the US government, and its partners. It's a bad bet to put your faith in a single individual to get you to the other side of the galaxy because that person will vanish someday.
Sadly, Tesla and Musk are one and the same. Publicly, there appears to be no alternative plan in place for CEO Andrew Baglino, except for the possibility that the senior VP of powertrain and energy engineering, Andrew Baglino, could take over in the event of his death. It's hardly impossible that a succession plan already exists. However, if the plan isn't transparent, it could cause confusion and have a negative impact on the stock price.
For the time being, Tesla is being run by Elon Musk, and we don't know how long that will last. As long as he's there, there's no guarantee that his mistakes won't catch up to the organization. There must be a strategy in place for the benefit of the company's employees, stockholders, and customers.