Now that Telsa’s Model 3 is having significant problems, both in production and in order rates, you would think the company led by Elon Musk would focus like a laser to get productivity and orders flowing for their products and snafus corrected. These issues are in the headlines almost daily and the stock is falling. But how can Elon focus on these problems when Musk is juggling so many other balls, with Tesla being only one of many major issues in his life?
Take, for instance, the problems at Telsa Solar which purchased the old Solar City facility. The “solar shingle” which was widely touted as part of the $2.6 billion dollar buyout is not selling. The solar company’s goal was to use the car company as its extra lift but the idea of selling solar through retail stores has been abandoned. Elon Musk made the promise and forecast that building an integrated and clean energy company was part of his master plan. The problem is that none of Elon’s great solar and EV visions have materialized. Sales of solar have been a disaster and electric vehicle (EV) owners have not adopted or built out solar or energy storage at a clip needed to provide enough cash flow. Remember that not long ago Elon said he was going to close all of his car showrooms and then changed his mind.
But how can a company such as Tesla, that Morgan Stanley claims could soon default, send help to the solar panel business that has been struggling for two years and is sinking on its own?
With Space X, Elon just raised $1 billion with a plan to launch a new satellite internet service using 11,943 low earth orbit satellites. Launching a billion dollar global satellite business is a herculean task all by itself but Elon claimed this is only the first key step to realizing his mission to Mars. To me this sounds like the Solar City claims.
The Boring Company received a $48 million order for a tunnel in Las Vegas. This is a monster order but we wonder how Elon can be focused on this. The video shows a car driving in a one way very narrow tunnel at 127 miles per hour. That would scare me and I just watched video. I’m sure Elon has a plan to leverage this into a much bigger company.
Elon’s Neuralink company raised $39.3 million, which is below the expected total offering amount of $51.3 million. This means his pioneering idea to link the human brain and computers is underfunded. This is a secret company.
Elon Musk has done some great things, including building Space X while launching the first successful car company in several generations. However, it seems he is always risking it all to win an even bigger prize. If not this time, soon we will see Elon bite off more than he can chew, overstepping even with his great skills.
With most of Mr. Musk’s companies hitting a wall or possibly overreaching, one thing is certain: Elon Musk is the highest paid CEO making an unbelievable $2.3 billion last year. The next highest paid boss was Discovery’s TV and Cable CEO David M. Zaslav who made $129 million. To me he even overstepped in his own compensation showing me this all might be more about Elon than the promises he has made for a better world.