Any deal that directs company money to the CEO’s other artificial intelligence venture detracts from the EV maker’s lofty valuations, says Liam Denning for Bloomberg Opinion.
Elon Musk , Chief Executive Officer of SpaceX and Tesla and owner of X speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, US, May 6, 2024. REUTERS/David Swanson/File photoNEW YORK: The all-in view of Tesla was summed up in a line from a report this summer by one of the more all-in analysts covering the company: “The car is to Tesla what the video game chip is to Nvidia. The car is to Tesla what selling books is to Amazon.
Musk has a habit of treating his various separate companies as parts of a unified whole. The most egregious example was Tesla’s acquisition of SolarCity in 2016, whereby the EV company bought a spiralling rooftop solar business that was chaired by Musk, owed him money and was run by his cousin.When Musk first bought Twitter, which became X, he brought in engineers from Tesla to review its code.
This followed Musk’s unsubtle threat to take his AI vision elsewhere if he didn’t get a bigger stake in Tesla .If Tesla were to end up investing in, or contracting with, another Musk-controlled venture that literally has AI in its name, that rather suggests at least some of his AI ideas went elsewhere, options or no. Beyond the conflicts and governance-trolling, though, there’s a more fundamental problem here.
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