Skip to main content

Elon Musk: Tesla will remain a public company

The post Elon Musk: Tesla will remain a public company appeared first on BardTech.

Tesla will remain a public company, CEO Elon Musk said Friday night, less than three weeks after he announced to the world via Twitter that he was considering taking the electric automaker private at $420 a share.

Musk, who posted the announcement via Tesla’s blog , said Friday that after speaking with shareholders and investigating the process of taking the company private he believes the better path is for Tesla to remain public. Musk met with Tesla’s board of directors Thursday and told him his decision. The board agreed, he wrote.

Here’s an excerpt:

Given the feedback I’ve received, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company. Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company. There is also no proven path for most retail investors to own shares if we were private. Although the majority of shareholders I spoke to said they would remain with Tesla if we went private, the sentiment, in a nutshell, was “please don’t do this.”

I knew the process of going private would be challenging, but it’s clear that it would be even more time-consuming and distracting than initially anticipated. This is a problem because we absolutely must stay focused on ramping Model 3 and becoming profitable. We will not achieve our mission of advancing sustainable energy unless we are also financially sustainable.

That said, my belief that there is more than enough funding to take Tesla private was reinforced during this process.

Friday night’s announcement closes a tumultuous 17 days that began with Musk tweeting that he secured funding and was considering taking Tesla private. The tweet wasn’t warmly embraced by the Tesla board or many shareholders. It also prompted the U.S. Securities and Exchange Commission to investigate .

https://twitter.com/elonmusk/status/10268726522903797

While this 17-day ride might be over, the questions over Musk’s behavior (and possible drug use ) and the company’s future are likely not.

Original Content By TechCrunch

The post Elon Musk: Tesla will remain a public company appeared first on BardTech.



Tags: Automotive, Elon Musk, Tesla, Transportation, company, public, remain, tesla

Original link: here
via BardTech
Labels:

Comments

Post a Comment

Popular posts from this blog

How to change the PIM of a VeraCrypt volume

The developers of VeraCrypt introduced Personal Iterations Multiplier (PIM) functionality in the encryption program in version 1.12 . PIM stands for "Personal Iterations Multiplier". It is a parameter that was introduced in VeraCrypt 1.12 and whose value controls the number of iterations used by the header key derivation function. PIM is used by volumes even if the creator of the volume did not specify a value. It is an optional component that improves security: it adds another step to the authentication process similarly to two-factor authentication. The main difference is that the PIM value is fixed and not generated on the fly when requested. An attacker needs to know the master password and the PIM, if not set to default, to breach the encryption successfully and access the content of the drive or partition. A couple of good reasons exist to change the PIM value: It was leaked or stolen. The default value is used and that is not as secure as using a custom PIM. Yo...
Post a Comment
Read more

Realme U1 with MediaTek Helio P70 launched in India for ₹11,999

Realme is an emerging smartphone brand in India, with a focus on budget and early mid-range segments. Realme started off as an online-only sub-brand of OPPO, but then later on, became its own separate brand . Realme devices ar seen to undercut the competition on their price value, and hence, coming up as viable alternatives despite the infancy of the brand. To keep up the pressure, Realme has now launched the Realme U1, the first smartphone with MediaTek’s Helio P70 SoC , in India. Realme U1 is the first smartphone in the company’s U series, which in-turn is the lineup that will be focused on photography. The rest of the company’s lineup includes the C series, the numbered series and the Pro series. The Realme U1 is being touted as “India’s Selfie Pro”, mainly because of its front camera — a single 25MP Sony IMX576 sensor with an f/2.0 aperture and 1.8-micron pixels. There’s software features like an AI Beauty+ mode that is optimized for Indian complexions, a Smarter Groupie featur...
Post a Comment
Read more

The 5 Best Free IPTV Apps to Watch Live TV on Android

It’s easier than ever to watch on-demand TV shows and movies on your Android device. But what about live TV? Yes, there are services like Sling and PlayStation Vue. However, if you know where to look, you don’t need to subscribe to their expensive plans. You can use free IPTV instead; you just need an IPTV app and an IPTV source. What Is an IPTV App? IPTV apps are a bit like Kodi; they are empty shells that can’t stream any content without some user input. You have the responsibility for adding channels, playlists, and other sources. Typically, you cannot use the apps to watch Netflix, Hulu, or direct content from other third-party providers. Here, we’re not interested in the best on-demand streaming apps or places to watch TV online. We are only looking at the IPTV apps themselves. Specifically, we want to know what the best IPTV apps on Android are. 1. Lazy IPTV Our first pick is Lazy IPTV. It supports M3U playlists in open-view, ZIP, and GZ formats. The app can also read pl...
17 comments
Read more