Science

No Elon Musk Show During This Quarterly Call From Tesla

Tesla Inc CEO Elon Musk did not attend the company’s earnings conference call for the first time on Wednesday, making him one of the few top executives in the United States to miss the quarterly ritual consisting of talk about Wall Street.

Musk’s popularity with investors and customers is a major asset for the electric car maker, and his absence, if it continues, risks turning Tesla’s quarterly conference calls into more static business reviews than conversations. Unpredictable platforms for the famous CEO’s last thoughts. .

Earlier on Wednesday, Tesla beat Wall Street expectations for third-quarter revenue with record shipments as it faces a prolonged global shortage of chips and raw materials.

The late Apple Inc CEO Steve Jobs wasn’t used to speaking on quarterly conference calls, but his successor, Tim Cook, made an appearance there. The same goes for other top executives like Jim Farley, CEO of Ford Motor Co, and Mark Zuckerberg, CEO of Facebook Inc.

Billionaire Amazon.com Inc. founder Jeff Bezos did not attend the e-commerce glove earnings briefings before resigning as CEO earlier this year. Musk and Bezos compete for the title of the richest person in the world.

Musk said at Tesla’s earnings conference in July that he won’t necessarily attend these future events, “unless there’s something really big that he has to say.”

In the past, the outspoken mogul has taken advantage of quarterly calls to make promises on technology and product delivery and to respond to analysts, governments and critics.

These days, Musk often focuses on another major company, SpaceX, which is developing a massive rocket to transport people to Mars with the ultimate goal of colonizing the plant.

Morgan Stanley said its clients believe that SpaceX could make Musk the first “billionaire” and that the company could ultimately achieve a higher valuation than Tesla, the world’s most valuable manufacturing and industrial company.

In a conference call on the results last year, Musk called the US government’s stay restrictions fascist to stop the coronavirus epidemic.

In another call in 2018, he declined to answer analysts’ questions about the capital needs of electric vehicle manufacturers, saying boring and silly questions are not good. Tesla shares fell as a result.

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