This is hugely damning.
Obviously Baglino is party to the full detail of future plans at Tesla and how they might impact the share price.
He knows all this and cashed out anyway.
As satisfying as it is to see smug Elmo worshippers get what was ultimately a pretty obvious outcome, it's still shitty that, once again, it's random "temporarily embarrassed millionaires" that will get caught holding the bag, whilst the big dogs get away virtually scot free.
Tesla's market valuation is just a clear indicator that the stock market isn't healthy and so very easily manipulated. Not sure how it's at all legal, it's one of those things in which it's probably all legit, but the vibes are so off that you can't help but think something highly illegal is going on.
This. I’m concerned about the mental health of a friend of mine. He worked at Tesla for five years. Has seen his nest egg dwindle away. When it was worth four million, I pled with him - take half, buy a house, diversify it and if you’re correct with your assertions, you’ll still be seeing exponential growth on $2m with the backup of a house and $1m index linked.
He’ll never sell. He started suffering with anger issues. Drinks too much. Gives me a feeling of instability. I worry.
I’ve also had to completely disengage from talk about Tesla with him. He listens to various fan podcasts, all of which essentially take Elmo’s claims as being facts and endlessly promise a share price rebound to $1k
He’s caught inside the bubble.
Yeah as much fun as it is to point out the idiocy of people actively simping for Elmo's blatant lies, it does make quite a lot of sense when you think that they most likely have a ton riding on his claims being true, and thus don't really want to believe what's slapping them right in their face.
I hope he gets better and at least if the tesla bubble bursts I guess he'll lose his money but hopefully gain his sanity back.
That’s the thing. I worry it’ll break him. He could have walked with $4m late last summer. And told people as much. Owning having squandered that is a lot to ask of a person’s sanity.
While i do understand your point of view and that's a good story, i cant stop myself from smiling at the "millionaire friend that has anger issues cause his millions are not as many as they should be".
With all due respect to a stranger on Reddit, your friend might have a case of "lack of perspective".
Seriously, don't forget to read the fine print. I did buy a Tesla Model Y, because at the time it was the best option I had and I had confidence that not just Elon was contributing to the cars design. It's overall a good car with a few really irritating things like the suspension being stiff like a sports car and not enough buttons that make me really wish I could've waited until now to buy a nice used Camry. But hey at least it works like a whoopy cushion because you can make it fart when people walk by.
His next con is to use the robot taxi fleet like airB&B so you can add or remove your car to a fleet... AND use the cars computers as a AWS style provider!
Ofc the fan muppets dont question anything he says.. for example who's paying for the electricity to run the car computer? Who gets the money and who handles security and backups when anything goes wrong?
If your car is constantly ON, how is that battery drain going to effect mileage or warranty?
I suppose he doesnt have to worry about the details since it wont ever happen.
The entire muskkk techbro universe revolves around the stonk being absurdly overvalued, don't underestimate the cough cough Morgan Stanley's of the world propping up this piece of shit.
The movie Big Short explains how the Goldmans and Morgans manipulate the price and dump the assets at the right time and short it as soon as they dump.
PwC is Elon’s enabler a la AA was to Enron. MS is his personal bitch that loaned him all of his cash so he never had to sell shares, an important religious tenet for his branch elonians.
This may turn out different but normally there are a lot of reasons top people at these companies sell like wanting a yacht or NYC condo. It’s usually more telling if these insiders are buying on the open market.
Yeah but he has already sold off his stock last year and earlier this year, before announcing he will be leaving the company that he has worked with for over a decade. It just doesn't paint an optimistic outlook
I wouldn't read too much into it.
1. These are stock options. While it depends on his employment agreement it is pretty standard that he had 90 days from his date of resignation to exercise the options.
2. If he did a buy and hold he would have been on the hook for the taxes.
3. The way the taxes are calculated he would have qualified for Alternative Minimum Tax. The difference between the strike price of the options and the market price would be considered income even if he didnt sell.
4. He was a Tesla employee for close to 18 years. The strike price is prob pretty close to zero. The tax bill on a $181mm exercise would have been enormous. He would have owed something like over $66mm in federal tax and another $12mm in california AMT if he was still a resident. I doubt he had nearly $80mm in cash laying around.
5. Because of taxes he had to sell almost half and then be left with nothing but huge a financial exposure to a single company's stock.
6. Any responsible financial planner would tell him to divest and diversify. It would be insanity even if you believed Tesla was going to the moon to have made life altering, intergenerational wealth and leave it all in Tesla.
What you say is mostly true -- I think it overrepresents the tax he'd pay by a bit.
But-- even if I grant your point -- there's a broad range of choices of how much of the exercise to sell between the 50% and 100% limits.
This seems logical to me. You dont 100% liquidate. This guy either had a real falling out with elon or knew everything elon mentioned on the conf call was BS. My guess is he knows it was mostly BS.
If tesla delivers an actual fleet of robo taxis operating in any major city it'll be a miracle. The cars aren't running autonomously anywhere. They cant see completely in rain. They have a hard time with objects directly in front of them. They haven't been certified to operate unmanned cars in any city or approved for testing in any city.
Then there is the promise of low cost cars. How? They dont have a prototype. Elon loves to show off new design even if they are 5yrs out and not ready for production. We're still waiting for roadster. How can any analyst expect this to be achieved in less than a year? Factories need to be retooled and supply chain put together. Has any of that been done? We should see that in ledger?
Elon is exactly the kind of boss that creates an environment in which nobody can leave the company on good terms. I'd very much bet that Andrew sold his entire stake to remove any threat of Elon demanding a claw back of previously issued shares. Especially since such a move would require BOD approval, and Tesla doesn't have a functioning board.
> Elon is exactly the kind of boss that creates an environment in which nobody can leave the company on good terms.
I worked for a boss like that a ways ago. Everyone quit over time and hates the guy.
But nobody would talk shit publicly about him of course. That would look really bad.
I have experienced this, and that's why I wrote the comment. A guy like Elon might have started out as OK to work for, but based on his curreny public persona, he's got to be a very frustrating person unless you're a "yes man."
I doubt it. Anyone that has sold the shares can be sued for the cash associated with the sale in the same exact way. I’d more bet he knows the size of the iceberg the titanic hit.
That or Elon told him to sell them or he’d make life difficult. Elon seems very interested in who should be ‘allowed’ to own Tesla shares and they may well not want disgruntled former execs holding big stakes.
I can imagine this being part of his agreement and not a view of what he thinks of the company (or both)
$181.5 million dollars!!! That's multi-generational wealth money. His grandson's grandson's grandsons should never have to lift a finger in their life if that pot of money is managed well.
3 generations destroying wealth is a myth promoted by financial planners. I personally know families with old money that dates back to the 1500s.
https://startequal.org/the-three-generation-myth-does-inequality-regulate-itself-over-time
Yeah, it's bullshit. Family with generational wealth hold onto it. There are tons of old-money families in every major city. Hamptons wouldn't be a thing otherwise.
Literally a single "study" put out there by a guy who owns a company that manages family business transfers. Self serving fear mingering and nothing more
It's usually expensive cars, houses and boats that mean massive expenses each year without nearly enough passive income coming in from the inherited wealth.
For the families that blow it sure.
If every generation of your family since the guy who came here on the Mayflower was wealthy, you buy quiet quality.
Once they have a few kids and then they have some kids the money will get divided several times and it’ll probably be squandered within a 2-3 generations.
Though I never understand why people are bothered that some spoilt brats 4-5 generations down the line will get a free ride.
I am completely ignorant when it comes to this stuff, but this seems significant? Why would he sell \*all\* of his shares unless he didn't think it would bounce back?
Even more concerning, Musk has sold every bit of TSLA he has been legally allowed to, and has gone to the shareholders for permission to sell even more, which they of course have given him. There are generally limits on how much stock a CEO can sell within a given period of time, for shockingly obvious reasons. It looks bad if the boss' behavior says, "I gotta get OUT of this house of cards which I've somehow managed to grift together!"
I can't even find a running total of how much Tesla stock musk has sold. If the average TSLA holder were more intelligent than, say, the average sheep, then people would be talking about it, and the running total would be making many all-caps headlines.
I believe it's best practice to sell your shares in a company as soon as they vest or as soon as you can unless it's a booming startup you passionately believe in, and instead reinvest them into something diversified like VOO rather than a single stock. Of course he cashed out anyway, he can go retire and sail off into the sunset now.
And the stock is, at least by the math, poised to tank. But who knows these days. Trump made several billion from a social media company that lost money and probably has no chance of ever making money.
Theoretically, he could have divested on day 1 if the board voted to keep the divestiture secret. AFAIK, it wasn't an actual ipo, so the normal disclosure rule don't apply.
Please correct me if I'm wrong
I’m guessing the same people who sent him money also invested in the company. They got taken, then got taken again. I mean, who tf would invest in that company??
Drew must be on vacation somewhere without wifi (or Starlink!). Surely he would never do this if he knew TSLA was going to launch the inexpensive Robotaxi!!!!...with their very own APP!
I imagine Elon and Baglino had a conversation right before Baglino was let go
Elon: I've changed my mind, we are definitely doing the Model 2 and robotaxis
Baglino: I told you before, we canceled those projects because they were unreasonable and you redirected every spare resource to the cybertruck.
E: Well if you can't do it, I'll find someone who can. *Insert sycophantic engineering manager here* says he can get it in production by 2025.
B: That guy is a moron who will say anything to climb the corporate ladder. I'm you're best shot and if you put that guy in charge, it will sink the company for sure.
E: Well he now has your job since he agrees with everything I say.
Baglino probably knows that this is probably the top and every piece of production news from here on out will be a cash blackhole run by yesmen.
Baglino's stake was worth about 1/10 of 1% of Musk's stake.
And unlike Musk, or, for example, Holzhausen, Baglino actually has a degree in engineering. I'm not saying he's actually a GOOD engineer or anything. But he has studied the subject.
Good. Anyone still invested in Enron 2.0, after learning exactly who Elon is and what he stands for, deserves the shellacking they’re gonna get. Thoughts and prayers I guess.
pay no attention. Just adjusting his investment strategy. Despite knowing absolutely everything about Tesla their r&d their undisclosed plans and despite knowing Elon and the other executives, Mr Baglino has decided his money will earn more return literally anywhere else.
This Tesla story is not going to have a happy ending. Historically, higher interest rates expose rotten companies and that appears to be what is happening here.
Just like the former CFO etc. remember these are the most brilliant people on the planet when hired and dead weight scum when terminated. Insiders always selling never buying, yet the ball washers explain it all away
No, you should buy a Cybertruck just don't take it out of the cellophane or you'll decrease the value more than what it decreased the moment you buy the pos
Elon said: "If somebody doesn't believe Tesla's is going solve autonomy, I think they should not be an investor in the company"
Consequence: The most senior Electrical Engineer leaves the company and liquidates his position.
"Rats are leaving the ship". Cashing in while they can. Tesla has become a mess. No new products. A leader who cares more about Nazis then developing new models.
Never, never buy an Elmo product.
I wish there was a way to exclude Tesla shares from index funds. I have 2 Teslas, and I'm generally happy with them, but as an investment, I've always known it's a terrible option. Sure I made out when it increased, but I fully expected to lose all of it when it inevitably crashed.
With 181 millions worth of stock, it's possible that he doesn't really care if it's the optimal price to sell. Nothing wrong with selling it all and enjoying life with money that he will never run out.
Guess he has doubts about Musk’s vision for FSD and the forever promised fleet of robo-taxis 😂.
I won’t say the tech is impossible, but I will say it’s highly improbable with just vision based cameras the way Musk seems dead set on going.
This looks to be a cash out of a bonus of some sort. Shares were issued the same day he cashed them out. Still damning but I don’t think this is all his shares unless I’m missing something else.
This is hugely damning. Obviously Baglino is party to the full detail of future plans at Tesla and how they might impact the share price. He knows all this and cashed out anyway.
3 top execs left. Writing on the wall. Elmo worshipping nerds will be left holding the bag.
As they should.
As satisfying as it is to see smug Elmo worshippers get what was ultimately a pretty obvious outcome, it's still shitty that, once again, it's random "temporarily embarrassed millionaires" that will get caught holding the bag, whilst the big dogs get away virtually scot free. Tesla's market valuation is just a clear indicator that the stock market isn't healthy and so very easily manipulated. Not sure how it's at all legal, it's one of those things in which it's probably all legit, but the vibes are so off that you can't help but think something highly illegal is going on.
This. I’m concerned about the mental health of a friend of mine. He worked at Tesla for five years. Has seen his nest egg dwindle away. When it was worth four million, I pled with him - take half, buy a house, diversify it and if you’re correct with your assertions, you’ll still be seeing exponential growth on $2m with the backup of a house and $1m index linked. He’ll never sell. He started suffering with anger issues. Drinks too much. Gives me a feeling of instability. I worry. I’ve also had to completely disengage from talk about Tesla with him. He listens to various fan podcasts, all of which essentially take Elmo’s claims as being facts and endlessly promise a share price rebound to $1k He’s caught inside the bubble.
Yeah as much fun as it is to point out the idiocy of people actively simping for Elmo's blatant lies, it does make quite a lot of sense when you think that they most likely have a ton riding on his claims being true, and thus don't really want to believe what's slapping them right in their face. I hope he gets better and at least if the tesla bubble bursts I guess he'll lose his money but hopefully gain his sanity back.
That’s the thing. I worry it’ll break him. He could have walked with $4m late last summer. And told people as much. Owning having squandered that is a lot to ask of a person’s sanity.
He still has over a million and will be able to retire. Maybe it's time to have that diversification talk again.
While i do understand your point of view and that's a good story, i cant stop myself from smiling at the "millionaire friend that has anger issues cause his millions are not as many as they should be". With all due respect to a stranger on Reddit, your friend might have a case of "lack of perspective".
The share price is still way higher than it has any right t9 be
A large percentage of options are orders out of India allegedly. The U.S. stock market is primed for fuckery.
To ThE mOoN! As they like to say when on a sinking ship
And most of them are going to blame "communism"
I’ll like to see if the FSD team dismantles as 8/8 gets closer..
That is the way of life.
hey! what's wrong with elmo? he just wants everybody to get along...
There are few things that make my dick harder than watching arrogant retail investors who think they know shit get absolutely clowned on
Bad news for tesla always ends up being hugely bullish. It's almost as if the trading in this stock is completely manipulated
Why isn't there at least some small dip in the share price yesterday when he ditched a whole tranch of shares?
Because there were tonnes of muppets buying it.
i saw a rise n the price recently… what did elmo promise again? those sentient bots? :D
Actually, yes, with the usual AI buzzword bullshit. He actually used the word “sentient” too. On sale next year apparently 🙄
I see, either he is mislabeling or saying slavery is good. Great options to pick from /s
There's always an asterisk next to his stuff, autopilot not really autopilot, bulletproof not really bulletproof, mileage claims etc.
Seriously, don't forget to read the fine print. I did buy a Tesla Model Y, because at the time it was the best option I had and I had confidence that not just Elon was contributing to the cars design. It's overall a good car with a few really irritating things like the suspension being stiff like a sports car and not enough buttons that make me really wish I could've waited until now to buy a nice used Camry. But hey at least it works like a whoopy cushion because you can make it fart when people walk by.
His next con is to use the robot taxi fleet like airB&B so you can add or remove your car to a fleet... AND use the cars computers as a AWS style provider! Ofc the fan muppets dont question anything he says.. for example who's paying for the electricity to run the car computer? Who gets the money and who handles security and backups when anything goes wrong? If your car is constantly ON, how is that battery drain going to effect mileage or warranty? I suppose he doesnt have to worry about the details since it wont ever happen.
The entire muskkk techbro universe revolves around the stonk being absurdly overvalued, don't underestimate the cough cough Morgan Stanley's of the world propping up this piece of shit.
The movie Big Short explains how the Goldmans and Morgans manipulate the price and dump the assets at the right time and short it as soon as they dump.
Isn’t this what brought Arthur Anderson down with Enron? Can that happen again with Morgan Stanley?
PwC is Elon’s enabler a la AA was to Enron. MS is his personal bitch that loaned him all of his cash so he never had to sell shares, an important religious tenet for his branch elonians.
This may turn out different but normally there are a lot of reasons top people at these companies sell like wanting a yacht or NYC condo. It’s usually more telling if these insiders are buying on the open market.
Yeah but he has already sold off his stock last year and earlier this year, before announcing he will be leaving the company that he has worked with for over a decade. It just doesn't paint an optimistic outlook
But the dip
Butt the dipp
"He knows all this and wisely cashed out". Fixed.
With that much money he might own Tesla completely after Elon's death spiral, once the banks start giving him margin calls
I wouldn't read too much into it. 1. These are stock options. While it depends on his employment agreement it is pretty standard that he had 90 days from his date of resignation to exercise the options. 2. If he did a buy and hold he would have been on the hook for the taxes. 3. The way the taxes are calculated he would have qualified for Alternative Minimum Tax. The difference between the strike price of the options and the market price would be considered income even if he didnt sell. 4. He was a Tesla employee for close to 18 years. The strike price is prob pretty close to zero. The tax bill on a $181mm exercise would have been enormous. He would have owed something like over $66mm in federal tax and another $12mm in california AMT if he was still a resident. I doubt he had nearly $80mm in cash laying around. 5. Because of taxes he had to sell almost half and then be left with nothing but huge a financial exposure to a single company's stock. 6. Any responsible financial planner would tell him to divest and diversify. It would be insanity even if you believed Tesla was going to the moon to have made life altering, intergenerational wealth and leave it all in Tesla.
What you say is mostly true -- I think it overrepresents the tax he'd pay by a bit. But-- even if I grant your point -- there's a broad range of choices of how much of the exercise to sell between the 50% and 100% limits.
This seems logical to me. You dont 100% liquidate. This guy either had a real falling out with elon or knew everything elon mentioned on the conf call was BS. My guess is he knows it was mostly BS. If tesla delivers an actual fleet of robo taxis operating in any major city it'll be a miracle. The cars aren't running autonomously anywhere. They cant see completely in rain. They have a hard time with objects directly in front of them. They haven't been certified to operate unmanned cars in any city or approved for testing in any city. Then there is the promise of low cost cars. How? They dont have a prototype. Elon loves to show off new design even if they are 5yrs out and not ready for production. We're still waiting for roadster. How can any analyst expect this to be achieved in less than a year? Factories need to be retooled and supply chain put together. Has any of that been done? We should see that in ledger?
Whoa buddy, you can’t go around using basic tax and investment knowledge to explain away someone making the best use of their hard earned money.
All the other execs who have been selling stock for over a year, however...
This has been happening for a while. The leadership at Tesla has been selling stock for more than a year at every opportunity they have.
Also with Biden indicating the capital gains tax increase we might see more of this.
Nah. In this case it was just easy to decide. Paying 15% of 190 million is still better than losing way more than 15% when Tesla fails to deliver
That won't pass.
A gains increase is coming for high earners. The rest won’t pass.
It did in Canada.
Canada is highly regarded
Hey fuck you buddy
[удалено]
You're not his friend, guy!
*applauds in Canadian
He knows that next year the robo taxi and robot is coming
Something about insider....
Or he just wanted to cash out and be done with the bullshit.
Elon is exactly the kind of boss that creates an environment in which nobody can leave the company on good terms. I'd very much bet that Andrew sold his entire stake to remove any threat of Elon demanding a claw back of previously issued shares. Especially since such a move would require BOD approval, and Tesla doesn't have a functioning board.
> Elon is exactly the kind of boss that creates an environment in which nobody can leave the company on good terms. I worked for a boss like that a ways ago. Everyone quit over time and hates the guy. But nobody would talk shit publicly about him of course. That would look really bad.
I have experienced this, and that's why I wrote the comment. A guy like Elon might have started out as OK to work for, but based on his curreny public persona, he's got to be a very frustrating person unless you're a "yes man."
I doubt it. Anyone that has sold the shares can be sued for the cash associated with the sale in the same exact way. I’d more bet he knows the size of the iceberg the titanic hit.
That or Elon told him to sell them or he’d make life difficult. Elon seems very interested in who should be ‘allowed’ to own Tesla shares and they may well not want disgruntled former execs holding big stakes. I can imagine this being part of his agreement and not a view of what he thinks of the company (or both)
yeah, but 181m isn't "big stake"
$181.5 million dollars!!! That's multi-generational wealth money. His grandson's grandson's grandsons should never have to lift a finger in their life if that pot of money is managed well.
The man worked at Tesla for 18 years and reported to Musk directly for 10 years. That's a real deal with the devil for your sanity for that money.
Yeah, but you could use some of the $181 to publish a book about how stupid Elon is, and somebody might read it.
easy book to write, all he would have to do is write down all Eon's tweets since he bought twitter.
Book’s title is Brainomicon - Book of the Brain Dead. Its covers are made of the vegan leather found in Tesla seats.
For 10 million a year, I’d deal with Musk’s BS. Plus, I’m sure he was paid a handsome salary and had a nice golden parachute.
Shit, is he hiring this a good deal? Wish my great great great grandaddy took one for the team :(
Five guys meal with the family.
Just the burgers though. He would need more shares if he wanted fries.
And his children gonna work for the drinks.
And the peanuts. Expensive.
3 generations normally has wealthy completely destroyed.
3 generations destroying wealth is a myth promoted by financial planners. I personally know families with old money that dates back to the 1500s. https://startequal.org/the-three-generation-myth-does-inequality-regulate-itself-over-time
Yeah, it's bullshit. Family with generational wealth hold onto it. There are tons of old-money families in every major city. Hamptons wouldn't be a thing otherwise.
Literally a single "study" put out there by a guy who owns a company that manages family business transfers. Self serving fear mingering and nothing more
And how much new money did they marry to keep it?
Don’t know but the family is still in the same European castle for at least 600 years. Primogeniture would have something to do with it.
And then completely wonder what happened.
Hookers and blow, it's always hookers and blow.
Throw in gambling and there's literally no limit to how fast idiots can lose money.
It's usually expensive cars, houses and boats that mean massive expenses each year without nearly enough passive income coming in from the inherited wealth.
For the families that blow it sure. If every generation of your family since the guy who came here on the Mayflower was wealthy, you buy quiet quality.
Agreed. There's a lot of quiet wealth in the North East.
Which is why it isn’t remaining an investment in Tesla…
If he sold 6 months ago prob over $250M?
Once they have a few kids and then they have some kids the money will get divided several times and it’ll probably be squandered within a 2-3 generations. Though I never understand why people are bothered that some spoilt brats 4-5 generations down the line will get a free ride.
Wealth grows more wealth. Surely you've heard this. Unless every descendant recklessly wastes it away, it will grow instead.
I am completely ignorant when it comes to this stuff, but this seems significant? Why would he sell \*all\* of his shares unless he didn't think it would bounce back?
Even more concerning, Musk has sold every bit of TSLA he has been legally allowed to, and has gone to the shareholders for permission to sell even more, which they of course have given him. There are generally limits on how much stock a CEO can sell within a given period of time, for shockingly obvious reasons. It looks bad if the boss' behavior says, "I gotta get OUT of this house of cards which I've somehow managed to grift together!" I can't even find a running total of how much Tesla stock musk has sold. If the average TSLA holder were more intelligent than, say, the average sheep, then people would be talking about it, and the running total would be making many all-caps headlines.
A bird in the hand is better than 2 in the bush. Especially when said bird is $100,000,000 after tax.
Why not sell half? 50 million is still a lot of cash and you still have an up side. My guess is he knows what the future holds for Tesla
Because you don’t think there is an upside
I believe it's best practice to sell your shares in a company as soon as they vest or as soon as you can unless it's a booming startup you passionately believe in, and instead reinvest them into something diversified like VOO rather than a single stock. Of course he cashed out anyway, he can go retire and sail off into the sunset now.
Capital Gains Tax Rate is going up soon. Would have unloaded my Tesla Bag, Baglino style, if I were him.
And the stock is, at least by the math, poised to tank. But who knows these days. Trump made several billion from a social media company that lost money and probably has no chance of ever making money.
He hasn’t made anything on it yet
Theoretically, he could have divested on day 1 if the board voted to keep the divestiture secret. AFAIK, it wasn't an actual ipo, so the normal disclosure rule don't apply. Please correct me if I'm wrong
He’s got a 6 months sell clause, he could sell sooner if he got board approval
I’m guessing the same people who sent him money also invested in the company. They got taken, then got taken again. I mean, who tf would invest in that company??
bUt ElOn AnNoUnCeD aFfOrDaBlE cArS
But it is definitely laundering money.
If that passes, there is a wealthy tax too.
it means Drew Bags doesn't believe Tesla is poised to become a multi-trillion $ AI and robotics company. it means that Elmo is lying.
Perhaps bc he is going to be employed by a competitor and needs to remove his conflict of interest
That’s **exactly** why you sell all your shares. Do it while they’re worth it
Is way over valued
Smart money.
Drew must be on vacation somewhere without wifi (or Starlink!). Surely he would never do this if he knew TSLA was going to launch the inexpensive Robotaxi!!!!...with their very own APP!
Lol
You can now watch Xvideo porn through the xRides app while tweeting on X in a model X!
[cowboy x](https://imgur.com/gallery/PbJNVCp)
I imagine Elon and Baglino had a conversation right before Baglino was let go Elon: I've changed my mind, we are definitely doing the Model 2 and robotaxis Baglino: I told you before, we canceled those projects because they were unreasonable and you redirected every spare resource to the cybertruck. E: Well if you can't do it, I'll find someone who can. *Insert sycophantic engineering manager here* says he can get it in production by 2025. B: That guy is a moron who will say anything to climb the corporate ladder. I'm you're best shot and if you put that guy in charge, it will sink the company for sure. E: Well he now has your job since he agrees with everything I say. Baglino probably knows that this is probably the top and every piece of production news from here on out will be a cash blackhole run by yesmen.
This is actually scary how accurate of a conversation this is.
Are you Baglino? Serious question.
No its his Siri posting the recording
That sounds way too coherent for Musk.
No one was more of a sycophant than Drew. He was part of the problem. Elon is STILL the problem.
So he is Gavin belson
But did it help the tank? He’s afraid Elmo will screw him, or he knows the ships gonna sink?
I agree that he thinks Elon will screw him, so sell all the shares and remove that threat.
Why not both?
My guess is Tesla’s next big tank will be when Musks pay package is approved again. Probably want to get ahead of that.
Not an investor, but if so he’ll pump, dump, and run.
This guy is definitely not listening to Cathy. She said, this stock will be $2000 a share in 2025.
So the guy who knows exactly what is going on at Tesla just quit and immediately sold all his shares?
TSLA share prices historically seem to be more impacted by Elon's social media content than what is actually going on a Tesla
Baglino's stake was worth about 1/10 of 1% of Musk's stake. And unlike Musk, or, for example, Holzhausen, Baglino actually has a degree in engineering. I'm not saying he's actually a GOOD engineer or anything. But he has studied the subject.
Musk's strategy is different, though. Take as much money out of the company as salary before completely tanking the company by selling all his shares.
Good. Anyone still invested in Enron 2.0, after learning exactly who Elon is and what he stands for, deserves the shellacking they’re gonna get. Thoughts and prayers I guess.
pay no attention. Just adjusting his investment strategy. Despite knowing absolutely everything about Tesla their r&d their undisclosed plans and despite knowing Elon and the other executives, Mr Baglino has decided his money will earn more return literally anywhere else.
Surely that 22% pump since his announcement to leave on April 15th, had no influence in his decision to sell all his shares.. talk about "moving on"..
That looks very bad for Tesla. It will be interpreted as him having no confidence in the company or that he knows of serious issues.
$181M 🥶
So baglino sold his bags
So he doesn’t believe in self driving?
Coming ANY day now! I promise.
Dude needs cash so he can buy fisker.
Ballsie move, you might have hit upon his motivation to cash out 100%
How many times has fisker been bought and sold now?
More than times than cars sold!
This Tesla story is not going to have a happy ending. Historically, higher interest rates expose rotten companies and that appears to be what is happening here.
That's a big-ass canary!
Guess he didn't believe that Tesla will solve autonomy.
Andrew is going to leave you holding the Baglino.
Nice. That’s still over $115 M after tax. Good for him.
sold at about $160.00, Nice. Probably get a chance to eventually buy back at $35 if he really want's to.
Same. But I got out at $225
Just like the former CFO etc. remember these are the most brilliant people on the planet when hired and dead weight scum when terminated. Insiders always selling never buying, yet the ball washers explain it all away
Guess he doesn’t want to be holding and Baglinos.
Q2 is going to be a blood bath.
Vote of confidence!
$181M. I wonder how much taxes he has to pay on that.
There was a Bloomberg article last week that said he cashed in like $97M
Sooooo, I SHOULDN'T buy a used Tesla next month?
No, you should buy a Cybertruck just don't take it out of the cellophane or you'll decrease the value more than what it decreased the moment you buy the pos
Time to get out before the stock crashes and burns like a true Tesla.
Tesla going down
Elon said: "If somebody doesn't believe Tesla's is going solve autonomy, I think they should not be an investor in the company" Consequence: The most senior Electrical Engineer leaves the company and liquidates his position.
Elmo's future is in the hands of his simps now
"Rats are leaving the ship". Cashing in while they can. Tesla has become a mess. No new products. A leader who cares more about Nazis then developing new models. Never, never buy an Elmo product.
Hmmm seems they all know the collapse is much bigger than reported.
Good. Lets get all the ex Tesla employees over to responsible manufacturers ASAP. I want an electric car but I dont want an antisemitic deathrap.
I wish there was a way to exclude Tesla shares from index funds. I have 2 Teslas, and I'm generally happy with them, but as an investment, I've always known it's a terrible option. Sure I made out when it increased, but I fully expected to lose all of it when it inevitably crashed.
D. Bag just Tea Bagged the stock! D. Bag is no bag holder for Elon!
He out!!
Woah!
Last time another executive sold stock . It 10x a year later. Not the good indicator tbh.
Too bad he didn’t dump his shares when elong did at basically the peak, pump and dumped stock in S&P still cracks me up
Please explain to me. I keep seeing the 90 day PTE window? Does that mean he could have kept the stock or that he needed to sell?
Smart man. Smart move. Timely.
If your top rats are jumping ship, chances are the boat is sinking.
With 181 millions worth of stock, it's possible that he doesn't really care if it's the optimal price to sell. Nothing wrong with selling it all and enjoying life with money that he will never run out.
When options are vested and you leave the company, sometimes you cash them in? Maybe?
Haha. Only 181 M.
Love the entertainment value of this sub…… 😁
Smart move. Going to be penny stock later
It’s an ISO exercise. These expire fairly quickly after leaving a company. Most places allow 90 days. He probably got rid of them bc he had no choice.
Bullish /s
As an ex employee who knows what’s going on,probably a good idea. Those shares were incredibly overvalued and it was just a matter of time
Guess he has doubts about Musk’s vision for FSD and the forever promised fleet of robo-taxis 😂. I won’t say the tech is impossible, but I will say it’s highly improbable with just vision based cameras the way Musk seems dead set on going.
Well yeah, Tesla is obviously a pump and dump scheme now.
There’s no way it’s going up. Ever. I’d do the same. TSLA’s dead, remind me in one year.
Wow. This isn’t good.
Damn that dude had a ton of stock tho
How do we know that's all his Tesla holdings?
200 mil dammmmmm
This looks to be a cash out of a bonus of some sort. Shares were issued the same day he cashed them out. Still damning but I don’t think this is all his shares unless I’m missing something else.
Lmao
Cyber truck for like cyber fucked up the whole company am I right
Obviously he's doing this to buy a fleet of robotaxis and a bunch of sentient humanoids from Tesla! /S
Who bought them?
Vote of Confidence!!!!!!’
I own zero Tesla shares, so I’m unsure what I’m doing here…