People’s disgust for Elon Musk has been overflowing into the business end. As it turns out, not only are the investors of Tesla annoyed with the behavior displayed by the CEO of Twitter, but the customers are also getting quite irritated with his antics. According to a report from CNET, it has been documented that the regular customers of this company are slowly becoming too wary of associating with this billionaire.
They have now resorted to opting for competitors or altogether canceling their orders. A biotech executive, whose lease for Model S is almost up, stated, “His personality is absolutely tanking the Tesla brand. I’m looking forward to having an Elon-free existence.”
Tesla Is Going Through A Torrid Period And It Is All Due To Elon Musk
The report from CNET also talks about the degree to which the antics of Elon Musk- which usually involve making controversial and scandalous statements on Twitter- are now having a real-world effect on the reputation of Tesla. Another customer who had leased a Model 3, stated, “I don’t want to support a company or anyone who acts that way.”
This anonymous customer also canceled his order for a new model, according to the publication. This behavior from the CEO of Twitter is definitely tarnishing the brand of Tesla, something Musk needs to take a close look at. In fact, he might have to do a lot of damage control in the coming months or weeks if he wants to look for another CEO who would take over the operations at Twitter.
The shares of Tesla have plummeted after dropping well over 60% since the year began. Naturally, the investors are quite furious at Musk for letting the situation get out of hand and for abandoning the company during this crisis.
Back in April 2022, Musk acquired a 9.2% stake in Twitter- which made him the company’s largest shareholder. In the initial days, some people were quite ecstatic about it- which included Luke Simon, a senior engineering director at the social media platform. He stated, “Elon Musk is a brilliant engineer and scientist, and he has a track record of having a Midas touch when it comes to growing the companies he’s helping lead.”
Tesla’s Troubles Began When Elon Musk Purchased Twitter
After the election of Donald Trump and Joe Biden subsequently, Twitter went on to completely overhaul its moderation policies and further staffed up the safety and the trusted team- while fostering ‘healthy conversations.’ Right after the January Insurrection in 2021, the platform went on to ban Donald Trump. The social media platform had bore the brunt of unfettered speech and had decided that this wasn’t worth it. Incidentally, this was Twitter that frustrated Elon Musk to the point where he decided to purchase it.
In his view, the company had already become a cesspool of corruption- where it was subservient to the liberal media elite and the government. According to Musk, the social media platform had waged a war against conservatives, legitimate discourses about COVID, and selectively kicking elected officials off the platform. This is where Musk decided that the social media platform needed him. But this is all where the downfall of Tesla began. [2]
Although Elon Musk’s initial offer for Twitter was met with gusto by the company’s employees, some were quite critical of what he had to offer. In fact, a product manager went so far as to address Luke Simon’s enthusiasm for Musk by stating, “I take your point, but as a childhood Greek Mythology nerd, I feel it is important to point out that story behind the idea of the Midas touch is not a positive one. It’s a cautionary tale about what is lost when you only focus on wealth.”
A Failure To Live Upto His Promises
The words of this sudden oracle did prove true, as within a few months of purchasing the social media platform, people noticed a remarkable lack of interest from their CEO toward introducing new features. On the other hand, he has gone on a spree of laying off thousands of employees. Currently, the only people who are in the company have to do so to make a living, or they are eyeing a position at the top.
It’s no secret that many employees currently working at Twitter are seeking other jobs. Some of them are having major issues trying to deal with the fall of the company and their own despair at not being able to help. The CEO himself has started appearing defeated. Not only has his acquisition of Twitter besieged him with problems he is quite ill-suited to deal with, but the negative reviews from this purchase have also been transferred to Tesla- which has suffered immensely.
At the beginning of 2022, Tesla’s shares started strongly at $400, but by September; the stock price had fallen by 25%. After Musk finally bought Twitter, the price went down to $123 and ended the year at that price. The situation has become so dire that the investors and employees of Tesla have been clamoring for Musk to take a step back. As one person aptly puts it, “What the f*** does this have to do with cars?”[3]
Sources
- “PEOPLE ARE CANCELING TESLA ORDERS BECAUSE THEY’RE SO DISGUSTED WITH ELON MUSK.” Futurism. Victor Tangermann. December 20, 2022.
- “A timeline of Elon Musk’s tumultuous Twitter acquisition” ABC News. November 11, 2022.
- Inside Elon’s “Extremely Hardcore” Twitter. The Verge. January 17, 2023.