So, Tesla held its big annual shareholder meeting yesterday, and that included a vote to give Elon Musk by far the biggest CEO compensation package in history. But the biggest story at Tesla is the same as it was last quarter, last year, and in the years to come. The company is trying to shift into an AI and robotics company.
Tesla’s past success doesn’t predict what will happen in the future. It could be that Tesla again achieves what most think it cannot, or it could be that Tesla can’t succeed in this very different venture. The new goals are not as “simple” as scaling up mass manufacturing of electric cars.
But, again, just because Tesla achieved what it did in the past doesn’t mean it will achieve these goals. It’s a whole different game. Again, you don’t have to take my word for it. Here’s what Elon Musk stated at yesterday’s meeting: “I think we’re not just opening a new chapter for Tesla. We’re starting a new book.”
If these things don’t work, however, Tesla will continue to compete against hundreds of other automakers selling more and more, and better and better, electric vehicles. If it fails on these big attempts, that will be a tarnish on the company and it’s going to be very difficult to grow at anywhere close to the rate it has previously grown at.
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Source: verge - 🏆 94. / 67 Read more »