Source: CNBC
Summary
Elon Musk announced that Tesla will be put on “autopilot” while he focuses on SpaceX. According to Musk, the electric car company’s current trajectory is strong enough to maintain momentum without his direct involvement. The decision comes ahead of Tesla’s planned IPO. Musk said he will continue to be involved in major decisions but will dedicate most of his time to SpaceX. The move is seen as a vote of confidence in Tesla’s current leadership.
Our Reading
The launch follows a familiar script.
Tesla on autopilot, because that’s exactly what the company needs right now. Musk’s confidence in the company’s trajectory is admirable, but it sounds like a clever way to avoid scrutiny before the IPO. “Autopilot” is quite a feature, especially when it involves a CEO’s attention. It’s not like Tesla has had issues with quality control or production delays before. And who needs a CEO when you have autopilot?
Author: Evan Null
