‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against GoogleRead Now

Art by Shane Burke

Musk’s Part-Time Tesla CEO Status in the Spotlight

Photo: Art by Shane Burke

Whatever verdict emerges from this week’s Delaware court case over Elon Musk’s compensation as Tesla CEO, you can argue he has already lost. Tesla stock has dropped 51% since April 4, when Musk revealed he had bought a stake in Twitter. That’s more than twice as much as the Nasdaq has fallen in that period. Such a decline is a very clear signal that Tesla shareholders don’t appreciate the growing number of Musk’s other commitments, a core issue in the court case. As Musk is the biggest shareholder in Tesla, he is taking a bigger hit than any other investor in the automaker. 

It’s the good thing about public markets. While shareholders frequently cannot influence the decisions a CEO makes, they can sell their stock if they don’t like what’s going on. If enough of them do that, it can tank the stock. That’s what has happened at Meta Platforms this year and, it seems, at Tesla. And who can blame those Tesla shareholders who are unhappy with their distracted CEO? Jack Dorsey got a lot of criticism for his part-time CEO role at Twitter—and he had just one other CEO job. Musk is CEO of Twitter, Tesla and SpaceX, and has two other businesses The Boring Co. and Neuralink that he is surely involved in somehow. If you stop and think about it for a moment, the fact that Musk has been allowed to get away with so much moonlighting is nuts.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
Art by Clark Miller.
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google. Both companies were selling cheap speakers capable of multiroom audio playback, a feature Sonos had pioneered on its devices more than a decade earlier. Sonos...
Latest Briefs
 
Google Invests $300M in OpenAI Rival Anthropic
Bankman-Fried’s Company Used to Buy Robinhood Shares Files for Bankruptcy
Musk Found Not Liable in ‘Funding Secured’ Tesla Trial 
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Art by Clark Miller.
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from tech giants like Amazon and Google.
Silicon Valley's Latest Invention: The Supplement Stack
The Weekend culture ai
Silicon Valley's Latest Invention: The Supplement Stack
Greetings, and welcome to your Weekend! Today’s newsletter really ought to come with a surgeon general’s warning: “Consuming dozens of unregulated health supplements may not actually be awesome for your health.” It’s hard not to shake your head at the sheer number of nascent and untested substances that some of our tech-industry peers are swallowing.
A selection of AI-generated selfies (good ones on the left, duds on the right) of the author Zara Stone.
Market Research culture ai
Know Thy Selfie: A Journey Into the Uncanny Valley of AI-Generated Avatars
At 7 a.m. on August 22, 2022, Yaron Inger woke up to find his business irrevocably changed. The co-founder and chief technology officer of Lightricks , which develops Facetune and other popular media-editing apps, scrolled through his newsfeed, his eyes flicking from one image to another.
Art by Mike Sullivan.
Exclusive crypto
Genesis Creditors Could Miss Out on Recent Crypto Rally
Crypto prices have risen since parts of crypto lender Genesis filed for chapter 11 bankruptcy last month, lifting the value of customers’ crypto assets stuck in Genesis accounts.
Art by Clark Miller.
The Big Read culture
‘I’m Like a Guinea Pig—I’ll Take Anything’: An Explosion of Supplements Hits Tech’s Kitchen Counters
When Courtney Reum wakes up in his Los Angeles home, it’s time to freeze, shake and dangle upside down.
Amazon executive chairman Jeff Bezos. Art by Mike Sullivan
Exclusive e-commerce amazon
How Amazon’s Bricks-and-Mortar Dreams Hit a Wall
If Amazon’s ambitious vision for becoming a power in bricks-and-mortar retail had gone to plan, last month would have been a big milestone for the company.