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Tesla (TSLA) profit drop in Q4, 7% workforce cut planned after growing 30% last year

Tesla CEO Elon Musk dropped an email to employees last night at 1am PT, which was also released publicly and filed with the SEC, to announce important job cuts to control costs. It also served to temper profit expectations for TSLA stock holders.

[Update: TSLA stock down nearly 10% in early morning trading]

In it, he details the challenges ahead for Tesla as it tries to reduce the price of its Model 3 to the $35,000 price point and make its other products more competitive to fossil fuel equivalents. 
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Elon Musk is brutally honest about Tesla’s board and SEC: ‘I can get anything done that I want’

Following his settlement with the SEC over his comments made on Twitter, Elon Musk had to step down from his role of Chairman of Tesla’s board.

Some have been questioning his influence over the board in his new role, but in a new interview, Musk was brutally honest about Tesla’s board and the SEC situation – saying that he “can get anything done that he wants” because he is the largest shareholder.
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Tesla CEO Elon Musk says he ‘removed all his titles’ following SEC settlement

It appears that Elon Musk likes pushing the SEC’s buttons following their settlement, which requires for him to step down as Chairman of Tesla’s board.

In what sounded like a joke, the CEO said that he “removed all his titles” at the company and that he is trying to not “confuse the authorities”, but then he actually removed his titles from the company’s official website.
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Tesla expands early access to highly-anticipated version 9 update, Elon Musk says ‘almost ready’

Right now, there are tens of thousands of Tesla owners anxiously waiting to get that notification “a new software update is available” on their mobile app or inside their cars.

Tesla has now expanded the early access program to the highly-anticipated version 9 update and Elon Musk says that the new firmware is ‘almost ready’.
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Elon Musk settles SEC lawsuit, forced out as Tesla’s chairman but stays as CEO, $20 million fine and more

Elon Musk

Elon Musk and the SEC have agreed on a settlement over the lawsuit that the latter filed against Tesla’s CEO over comments he made about his attempt to take the company private.

Musk will be able to remain as CEO, but he will have to resign from his role as Chairman of the board, pay a $20 million fine, and more.
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Elon Musk hints at what his ‘Cyborg Dragon Tesla’ is actually going to be

Ever since Elon Musk talked on Twitter about launching a Tesla Roadster in space and then actually did it, we are more inclined to take the seemingly crazy things he is tweeting seriously.

The CEO has now talked about building a ‘Cyborg Dragon Tesla’ on two different occasions and we now might have a good hint at what it could actually be.
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Elon Musk buys another $25 million worth of Tesla (TSLA) stock as he pushes for profit

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Elon Musk appears to be flush with cash these days since he is buying a lot of Tesla shares – something he hasn’t done in while until now doing twice in about one month.

Today, he added about $25 million to his already huge position on the company that he co-founded as he now tries to make it profitable.
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Talking Schmidt: Google advisor/ former CEO says Elon Musk ‘exactly wrong’ on AI, doesn’t understand benefits

We haven’t done a Talking Schmidt in a while, not because the former Google CEO and current Alphabet Board member Dr. Eric Schmidt has been quiet with his sometimes outlandish commentary, but because of his reduced role at Google and its now parent company Alphabet. In February Schmidt stepped down as Chairman, taking an innovation role at MIT and was replaced by John Hennessy.

But back to the matter at hand…


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Elon Musk’s Boring Company announces ‘partnership’ with LA Metro for its tunnel network under Los Angeles

Elon Musk’s Boring Company is moving forward with its plan to create a network of tunnels under Los Angeles that will house a new electric transportation system called ‘Loop’.

It’s a massive infrastructure project and not everyone is on board, but the company apparently found a new partner: LA Metro.
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