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☆ Why Tesla wants to give Elon Musk a $55 billion pay package
▼ + stars: | 2024-04-17 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Tesla is seeking shareholder approval for Elon Musk's pay package, which a judge previously struck down. AdvertisementWhy does Tesla's board think Elon Musk deserves a $55 billion pay package? Tesla plans to ask shareholders to vote again on Musk's $55 billion pay package after it was struck down by a Delaware Judge earlier this year. Tesla shareholders will be able to vote on the issue during the company's annual meeting in June. Musk does not receive a salary from Tesla and his pay package centered on a series of goalposts around the carmaker's financial growth, initially set in place in 2018.

Persons: Tesla, —, Elon, Robyn Denholm, Denholm, Kathleen St, J, McCormick, Musk Organizations: Elon, Service, Delaware Judge, Securities and Exchange Commission, Delaware Court, Tesla, The New York Times Locations: Delaware, Texas

☆ Tesla layoffs have reportedly also hit its international offices
▼ + stars: | 2024-04-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk announced a 10% Tesla workforce reduction in an email to staff on Sunday night. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla's layoffs will also reportedly impact its international workers. On Monday, some US Tesla employees were told during an all-hands meeting there would be further cuts outside North America, two sources told BI. Separately, Tesla started instructing managers in February to identify which roles at the company were business-critical and had temporarily delayed performance reviews.

Persons: Elon Musk, they'd, —, Workers who'd, Tesla, Musk Organizations: Reuters, Service, Business Insider, Workers, EV, BI Locations: Berlin, China, Germany, North America, Buffalo , New York

☆ I relocated across the country when Tesla asked. Then I was laid off 6 months later.
▼ + stars: | 2024-04-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

On Sunday night, Elon Musk sent a company-wide email to Tesla staff announcing a workforce reduction of more than 10%. One laid-off Tesla worker said they moved about 6 months ago for the job before being let go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Then I went to my personal email account and I saw an email from Tesla that was sent out overnight. In that layoff letter they said the cuts were due to redundancy, but I didn't feel like my role was redundant.

Persons: Elon Musk, Tesla, —, hadn't, We're, I've, we're Organizations: Service, Tesla, Business Locations: California

☆ Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
▼ + stars: | 2024-04-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Typically, security guards inspect workers' badges at the site, but don't usually scan them directly, the two workers said. Related storiesThree other former Tesla employees said workers at the Fremont factory were told by security that if their badges didn't work they were no longer employed. The email sent directly to laid-off staff said the cuts would be effective immediately and workers would receive information regarding their severance within 48 hours. Tesla workers aren't the first to unceremoniously discover they've been terminated while trying to access their former place of work. Last year, some former Google employees told BI they learned they'd been laid off when they couldn't badge into the office.

Persons: —, Tesla, didn't, Elon Musk, Drew Baglino, Rohan Patel, they've, they'd Organizations: Service, Business, Fremont, BI, Google Locations: Tesla's, Sparks , Nevada, Nevada

☆ Some Tesla employees worry that layoffs are coming
▼ + stars: | 2024-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

Tesla employees fear potential layoffs may begin as early as this weekend. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementSome Tesla employees are concerned that layoffs are imminent, possibly as soon as this weekend. This is the second time in a matter of months that anxiety over possible layoffs has set in at Tesla. The reviews were later rescheduled, three sources told Business Insider.

Persons: Tesla, —, Austin gigafactory, they'd, hadn't, There've, Tesla's Organizations: Service, Austin, Fremont, Business, Bloomberg, Business Insider . Workers, Big Tech, Google, Microsoft, EV Locations: Tesla

☆ Some Cybertruck owners report getting red warning screen alerts within days of taking delivery
▼ + stars: | 2024-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Some Cybertruck owners are reporting issues they say occurred shortly after delivery. AdvertisementSome Cybertruck owners are taking to the internet to report issues with their new Tesla pickup truck. Multiple owners have reported the same issueAt least five others who identified themselves as Cybertruck owners online have posted that they had seen the same warning screen. One Cybertruck owner on a Cybertruck owners forum said they'd seen the warning message, but had less success resetting the vehicle. It's not the only issue Cybertruck owners are flagging online — owners have also pointed out issues with the ADAS system and charging.

Persons: they've, —, Thomas Remo, Remo, they'd, Tesla, It's, Marques Brownlee, Brownlee Organizations: Service, YouTube, Business

☆ Ousted Tesla cofounder says a canceled $25,000 car could give China 'a chance to really spread'
▼ + stars: | 2024-04-11 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Tesla cofounder Martin Eberhard expressed disappointment over a report of Tesla canceling its $25,000 EV plans. AdvertisementTesla cofounder Martin Eberhard said a report that the electric-car maker has canceled a $25,000 EV could give China a boost. The billionaire also said Tesla plans to unveil its first robotaxi later this year. The carmaker has been facing pressure from EV companies in China, including BYD, which has been vying with Tesla for the title of top EV seller . Earlier this week, the Tesla CEO said "Chinese car companies are by far the most competitive."

Persons: Tesla, Martin Eberhard, Elon Musk, Eberhard's, —, Eberhard, Musk, Nicolai Tangen, Eberhard butted Organizations: Service, HSBC Global Investment, Reuters, Elon, Norges Bank Investment Locations: China, Hong Kong

☆ Fisker Ocean reservation cancellations top 40,000 as the EV company tries to fight off bankruptcy, leaked data shows
▼ + stars: | 2024-03-28 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

More than 40,000 out of well over 70,000 reservations for the Fisker Ocean have been canceled to date, according to internal company metrics viewed by Business Insider. The reservation cancellations pose an issue for the company, representing potential sales slipping away during a time when the company desperately needs to generate more revenue. The company said a reservation "will hold your approximate spot in our order queue to purchase your Fisker EV." Related storiesThe company also has a few thousand order cancellations, according to the data viewed by BI, which are different than reservations and not fully refundable. The Fisker CEO and Danish car designer's previous startup, Fisker Automotive, filed for bankruptcy protection in 2013.

Persons: —, Fisker, Henrik Fisker's Organizations: Service, Business, BI, Fisker Automotive

☆ Neuralink patient said he asked about reports of botched brain-chip surgeries on monkeys
▼ + stars: | 2024-03-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewNeuralink's first patient, Noland Arbaugh, said he did his research before he decided to get the brain implant, including looking into the reports of animal testing gone awry. AdvertisementBefore Elon Musk's company Neuralink began human testing, the company shared demos of monkeys and pig test subjects using the implant. "No monkey has died as a result of a Neuralink implant," Musk wrote on X in September. "It's hard to describe something in your brain," Arbaugh said. Neuralink began recruiting for human trials last year and unveiled its first human patient earlier this month.

Persons: —, Noland Arbaugh, Arbaugh, Neuralink, Elon, UC Davis, Musk Organizations: Service, Business, UC, Reuters, US Department of Agriculture, Wired

☆ The real reason Tesla may be giving free trials of its Full Self-Driving software
▼ + stars: | 2024-03-26 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Tesla is offering a free monthlong trial of its Full Self-Driving software. FSD adoption could significantly increase Tesla's profit margins and improve the software. Tesla CEO Elon Musk announced on Monday that the electric carmaker would offer its US customers a free trial of the driver-assist software starting this week. "All US cars that are capable of FSD will be enabled for a one month trial this week," Musk wrote on X. Advertisement"Almost no one actually realizes how well (supervised) FSD actually works," Musk wrote in the email.

Persons: Tesla, —, Elon Musk, Musk, FSD, Brett Winton, Cathie Wood, I'm, I've Organizations: Service, Business, ARK Invest, Tesla, National, Traffic, Administration

☆ Watch Neuralink's first human patient play 'Mario Kart' with his mind
▼ + stars: | 2024-03-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Neuralink shared a video of its first human patient appearing to play "Mario Kart" with his mind. AdvertisementNeuralink has shared a video that appeared to show its first human patient using his brain-chip implant to play "Mario Kart." During an all-hands meeting with Neuralink staff, the company brought its first patient, 29-year-old Noland Arbaugh, onstage to describe the brain chip's capabilities. At the all hands, Neuralink showed a split-screen video of Donkey Kong and Bowser racing in the Mario Kart game. Hope y'all enjoy!… pic.twitter.com/YNa2Jtjhnk — Noland Arbaugh (@ModdedQuad) March 22, 2024The Neuralink worker also showed a separate video of Arbaugh playing "Mario Kart" alongside his father.

Persons: Neuralink, Mario, Noland Arbaugh, Arbaugh, —, Mario Kart, Bliss Chapman, he'd, Donkey Kong, Bowser, Chapman, Hope y'all, YNa2Jtjhnk — Noland Arbaugh, " Chapman, he's Organizations: Service, Donkey, Mario Kart, BCI

☆ It's hard to compete with Elon Musk when recruiting AI talent, CEO says
▼ + stars: | 2024-03-18 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Perplexity CEO Aravind Srinivas said Elon Musk's xAI is stiff competition in the recruiting space. The AI CEO said Musk's company offers the highest compensation at the moment. Aravind Srinivas, the CEO of the AI company Perplexity, said it can be difficult to compete with the Tesla CEO when recruiting. Musk launched his own AI startup, xAI, last year and Srinivas said it has since become one of the highest-paying companies for AI talent — on par with OpenAI. In January, Financial Times reported that Musk's AI venture was in talks to raise $6 billion at around a $20 billion valuation.

Persons: Aravind Srinivas, Elon Musk's, It's, —, Elon Musk, Tesla, Musk, Srinivas, OpenAI, Alex Heath, Perplexity, Heath, OpenAI's ChatGPT, xAI's, Patrick Collison, Collison, Srnivas, he'd, Mark, Fortune, X Organizations: Service, OpenAI, Street Journal, Financial Times, xAI, TechCrunch, Twitter, SpaceX, Musk .

☆ The FDA reportedly identified quality-control issues at a Neuralink animal lab shortly after Elon Musk said the startup was cleared to start human tests
▼ + stars: | 2024-02-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Neuralink had said in May 2023 that it had been cleared by the FDA to begin human trials of its technology, which has since implanted its first brain chip in a person. The company's site in Texas did not have the same issues, Reuters reported, citing FDA records. An FDA spokesperson did not immediately respond to a request for comment from Business Insider ahead of publication. A spokesperson for Neuralink did not respond to a request for comment from BI or Reuters. Musk said the company kicked off human trials earlier this year and successfully implanted its first chip in a patient.

Persons: —, Elon Musk's Neuralink, Neuralink, Elon Musk, Musk Organizations: Service, US Food and Drug, Reuters, Business, FDA, Elon, US Department of Agriculture, Bloomberg, Occupational Safety, Health Administration, The Boring Company, SpaceX Locations: California, Texas, Las Vegas

☆ The stainless steel body of Tesla's Cybertruck is reportedly leading to issues with gaps in between the panels
▼ + stars: | 2023-11-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

The Cybertruck's stainless steel body has made it difficult to align its panels, WSJ reported. The stainless steel has been difficult to shape into panels without gaps or alignment issues, the publication said, citing individuals who had worked on the Cybertruck. The Journal said the stainless steel is made in "coils that resemble giant rolls of toilet paper." The billionaire has said the vehicle's stainless steel body will be bulletproof and even comes with an option for fixed bulletproof windows. Munro has also pointed out that the thick stainless steel body has several perks for owners.

Persons: Elon Musk, Tesla, —, Javier Verdura, Musk, you've, Giorgetto Giugiaro, Electrek, Sandy Munro, Munro Organizations: EV, Elon, Service, Street, DeLorean

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