"Both Elon Musk and Donald Trump are sociopathic leaders who demand vast wealth and power, scoff at norms, want total control, and have no regard for anyone but themselves. They are the antithesis of the common good."
Not at all what Adam Smith intended. And what does Tesla do, exactly? Well, it bolts a Chinese battery to a washing machine motor and calls it a car. Not exactly brilliant.
How many more such examples do we need to prove that the philosophy and practice of unbridled capitalism no longer is viable? It is time to investigate and eventually implement a system that does not depend on greed for progress and innovation. If you scroll down further in the substack my answer to Paul’s question proposes a better system.
Remember Elon Musk is currently refusing to pull down videos of a minister being stabbed in a church in Sydney. It has been deemed a terrorised act. He is taking it to the High Court of Australia under the guise of free speech.
That was an excellent description of Elon Musk!! He is a narcissistic sociopath and only cares about himself and his immediate gratification. All of the workers at all of his companies need to unionize. I watched Shawn Fain speak to his union on You Tube yesterday evening and it was so inspiring!! If workers would listen to what he has to say, they would definitely move toward unionization. It is time for the working class to stand up and be heard. Yes, you pay dues to be in a union, but wouldn't you rather pay dues than work for pittance while your CEO plays with millions that you were pivotal in acquiring? Wouldn't you pay union dues to insure the corporation and its shareholders didn't shaft you every time profits go up? Many will continue to say unions are corrupt. I say unions must be transparent so that workers see exactly where their dues are going. Elon Musk and others of his ilk want to keep the working class clueless but continuing to work for peanuts. We need to continue the push to bring unions back to America and stop these corporations more interested in greed and power than helping their workers maintain a decent life. Unionize America!!
Elon allowed a vote to decide if he should stay leading Twitter, thinking that everyone would agree that his excrement doesn't stink. He was surprised, however, when people voted for him to go. I suspect he might find the same thing if people were free to express themselves. However Musk has shown himself to be vindictive, so I doubt many will dare to cross him.
Elon Musk has been the same guy he has always been, a loud mouthed, self-absorbed greedy man who has no regard for anyone. How is it that it has taken more than a decade and a lot of shenanigans for people to see it. Does the money shield him from scrutiny as it has Donald Trump? I am guessing it has. It seems he has now passed the point where his ideas have merit. I am also guessing Tesla, if it is to survive, will need different hands-on management with Musk, at best, a figurehead. I know we have laws on the books to stop the kind of blatant disregard Musk is practicing, so why are those laws and regulations not being directed toward Musk? Maybe he, too, is a Teflon don.
Professor Reich: does a government grant to tesla require that the company fulfil certain requirements? i'm asking as a scientist who received grants to support my research -- which must fulfil certain requirements. if so, what might those requirements be? if not, why not?
And now the news. From Heather Cox Richardson. An Arizona grand jury yesterday indicted 11 of the fake electors in that state with conspiracy, fraudulent schemes and artifices, fraudulent schemes and practices, and forgery for their attempt to overturn the results of the 2020 presidential election. Those charged included state senators Jake Hoffman and Anthony Kern, former Arizona Republican Party chair Kelli Ward, and Tyler Bowyer of the right-wing advocacy organization Turning Points Action. The indictment lists seven other co-conspirators, who are not yet named but who appear from descriptions to include Trump lawyers Rudy Giuliani, John Eastman, Christina Bobb, Boris Epshteyn, and Jenna Ellis; Trump campaign operative Mike Roman; and Trump’s former chief of staff Mark Meadows. Bobb is now senior counsel for “election integrity” for the Republican National Committee.
Today SCOTUS hears the DC immunity appeal. IMHO they already helped Trump through delay. His NY criminal trial resumes. His wife launched a new jewelry line. I wonder whether she would get PR and sales if she wears it to court.
A reminder that Democrats have the power to sweep by registering people currently not on the voting rolls and not polled. 60% of unregistered voters have never been asked to register. To win in 2024, FT6 will reach out to "millions of unregistered likely Democrats using our one-of-a-kind database and every outreach method possible (phone and text, postcard, email and targeted ad, and in-person too), where new Democratic voters will make the most impact – in the most flippable states and districts." https://www.fieldteam6.org/
Also, Focus for Democracy's informational meeting for the 2024 election cycle is tonight,
Don’t get me wrong. I’m a fervent admirer of Prof. Reich. But, what he needs to enunciate are practical ways to pass legislation that blunts the crude edges of capitalism. For instance:
1. Limiting CEO compensation to no more than 50 times average national wage.
2. Introducing wealth tax of at least 2.5% for those that own assets over USD 100 million.
3. Death duties of at least 20% for inheritance valued over USD 100 million.
4. Job loss to be compensated with cash payment of one year in wages.
Shareholders' role in voting to approve CEO's pay is a joke. The approval vote is "advisory," meaning it changes nothing. The Board's decision cannot be altered by the shareholders, and the Board's decision on top executive pay is final. This is why CEO pay is 300 times higher than most workers' pay. Many large corporations pay their CEOs tens of millions of dollars a year. The highest I've personally seen is $47 million. (Musk wants over 1,000 times that for six years, or 166 million times a year. Who needs that much excess compensation for the work they do? What do they do with all that money? They buy lawyers, justices and politicians to protect their wealth and corrupt our economic system and our government. Their Boards of Directors spend an inordinate amount of time writing complicated justifications for CEO pay that cover every objection except unfairness and social consequences.
When other companies began to successfully challenge Tesla's hold on the EV market, instead of improving the Tesla, Musk took away one of its major self-driving safety features, radar, so he could sell it more cheaply. Diminishing its safety is probably going to diminish its safety record which will further diminish its sales--as will successful lawsuits against it.
The BOD should be charging Musk $47M for diminishing the value of the Tesla, not giving him $47M.
"Both Elon Musk and Donald Trump are sociopathic leaders who demand vast wealth and power, scoff at norms, want total control, and have no regard for anyone but themselves. They are the antithesis of the common good."
Not at all what Adam Smith intended. And what does Tesla do, exactly? Well, it bolts a Chinese battery to a washing machine motor and calls it a car. Not exactly brilliant.
How many more such examples do we need to prove that the philosophy and practice of unbridled capitalism no longer is viable? It is time to investigate and eventually implement a system that does not depend on greed for progress and innovation. If you scroll down further in the substack my answer to Paul’s question proposes a better system.
I just bought a Volvo EV. I’d die before I’d support Elon Musk.
Might others be making similar decisions?
Remember Elon Musk is currently refusing to pull down videos of a minister being stabbed in a church in Sydney. It has been deemed a terrorised act. He is taking it to the High Court of Australia under the guise of free speech.
That was an excellent description of Elon Musk!! He is a narcissistic sociopath and only cares about himself and his immediate gratification. All of the workers at all of his companies need to unionize. I watched Shawn Fain speak to his union on You Tube yesterday evening and it was so inspiring!! If workers would listen to what he has to say, they would definitely move toward unionization. It is time for the working class to stand up and be heard. Yes, you pay dues to be in a union, but wouldn't you rather pay dues than work for pittance while your CEO plays with millions that you were pivotal in acquiring? Wouldn't you pay union dues to insure the corporation and its shareholders didn't shaft you every time profits go up? Many will continue to say unions are corrupt. I say unions must be transparent so that workers see exactly where their dues are going. Elon Musk and others of his ilk want to keep the working class clueless but continuing to work for peanuts. We need to continue the push to bring unions back to America and stop these corporations more interested in greed and power than helping their workers maintain a decent life. Unionize America!!
Elon allowed a vote to decide if he should stay leading Twitter, thinking that everyone would agree that his excrement doesn't stink. He was surprised, however, when people voted for him to go. I suspect he might find the same thing if people were free to express themselves. However Musk has shown himself to be vindictive, so I doubt many will dare to cross him.
Elon Musk has been the same guy he has always been, a loud mouthed, self-absorbed greedy man who has no regard for anyone. How is it that it has taken more than a decade and a lot of shenanigans for people to see it. Does the money shield him from scrutiny as it has Donald Trump? I am guessing it has. It seems he has now passed the point where his ideas have merit. I am also guessing Tesla, if it is to survive, will need different hands-on management with Musk, at best, a figurehead. I know we have laws on the books to stop the kind of blatant disregard Musk is practicing, so why are those laws and regulations not being directed toward Musk? Maybe he, too, is a Teflon don.
Professor Reich: does a government grant to tesla require that the company fulfil certain requirements? i'm asking as a scientist who received grants to support my research -- which must fulfil certain requirements. if so, what might those requirements be? if not, why not?
And now the news. From Heather Cox Richardson. An Arizona grand jury yesterday indicted 11 of the fake electors in that state with conspiracy, fraudulent schemes and artifices, fraudulent schemes and practices, and forgery for their attempt to overturn the results of the 2020 presidential election. Those charged included state senators Jake Hoffman and Anthony Kern, former Arizona Republican Party chair Kelli Ward, and Tyler Bowyer of the right-wing advocacy organization Turning Points Action. The indictment lists seven other co-conspirators, who are not yet named but who appear from descriptions to include Trump lawyers Rudy Giuliani, John Eastman, Christina Bobb, Boris Epshteyn, and Jenna Ellis; Trump campaign operative Mike Roman; and Trump’s former chief of staff Mark Meadows. Bobb is now senior counsel for “election integrity” for the Republican National Committee.
Today SCOTUS hears the DC immunity appeal. IMHO they already helped Trump through delay. His NY criminal trial resumes. His wife launched a new jewelry line. I wonder whether she would get PR and sales if she wears it to court.
A reminder that Democrats have the power to sweep by registering people currently not on the voting rolls and not polled. 60% of unregistered voters have never been asked to register. To win in 2024, FT6 will reach out to "millions of unregistered likely Democrats using our one-of-a-kind database and every outreach method possible (phone and text, postcard, email and targeted ad, and in-person too), where new Democratic voters will make the most impact – in the most flippable states and districts." https://www.fieldteam6.org/
Also, Focus for Democracy's informational meeting for the 2024 election cycle is tonight,
Thursday, April 25th at 8PM Eastern/5PM Pacific.
Please click here to register:
http://tinyurl.com/F4D25Apr
https://us02web.zoom.us/webinar/register/WN_UtpJ-xyoR4SOBM_8IdUwlQ?_x_zm_rtaid=S3K6ygDfTu2DU-HFUDhIGw.1714035204062.e239549e9872e2e88636fc040b62b627&_x_zm_rhtaid=92#/registration
I am curious what Musk thinks he can do with immense wealth. $56 billion pay package? Why not $56 trillion?
Sadly, Musk has serious psychological issues that are rooted in childhood by having a sociopath for a father. Something he and trump have in common.https://samray.substack.com/p/the-grooming-of-elon-musk-a-psychological-139
Don’t get me wrong. I’m a fervent admirer of Prof. Reich. But, what he needs to enunciate are practical ways to pass legislation that blunts the crude edges of capitalism. For instance:
1. Limiting CEO compensation to no more than 50 times average national wage.
2. Introducing wealth tax of at least 2.5% for those that own assets over USD 100 million.
3. Death duties of at least 20% for inheritance valued over USD 100 million.
4. Job loss to be compensated with cash payment of one year in wages.
5. Stock options tax of 20% when exercised.
Am sure the good Prof. can add to above list.
He’s a slease-ball
Shareholders' role in voting to approve CEO's pay is a joke. The approval vote is "advisory," meaning it changes nothing. The Board's decision cannot be altered by the shareholders, and the Board's decision on top executive pay is final. This is why CEO pay is 300 times higher than most workers' pay. Many large corporations pay their CEOs tens of millions of dollars a year. The highest I've personally seen is $47 million. (Musk wants over 1,000 times that for six years, or 166 million times a year. Who needs that much excess compensation for the work they do? What do they do with all that money? They buy lawyers, justices and politicians to protect their wealth and corrupt our economic system and our government. Their Boards of Directors spend an inordinate amount of time writing complicated justifications for CEO pay that cover every objection except unfairness and social consequences.
One might say Elon and Donald are The Enemy of the People.
When other companies began to successfully challenge Tesla's hold on the EV market, instead of improving the Tesla, Musk took away one of its major self-driving safety features, radar, so he could sell it more cheaply. Diminishing its safety is probably going to diminish its safety record which will further diminish its sales--as will successful lawsuits against it.
The BOD should be charging Musk $47M for diminishing the value of the Tesla, not giving him $47M.