Nico Rosberg on his new life as a tech investor: “I struggle to invest in some boring s**t. For me it’s important that they’re cool.” October 11, 2018 His racing days might be behind him but the competitive fire still burns inside Nico Rosberg – only now the ex-Formula One world champion has an altogether different outlet. Since his sudden retirement in 2016, Rosberg has embarked on a second career as an investor, with a particular focus on tech-leaning companies such as Uber [...]
Musk denies rumours of James Murdoch as lead candidate for Tesla chairman October 11, 2018 Tesla billionaire Elon Musk has denied reports that 21st Century Fox chief and Tesla board member James Murdoch is the lead candidate to replace him as chairman of the electric carmaker. In response to a report by the Financial Times late last night that Murdoch was the favourite to take the top spot, Musk tweeted at [...]
Founder syndrome: Are you suffering? October 5, 2018 When you start a new business, there is an expectation that your leadership will be marked by certain qualities – purpose, authenticity, and a lack of hierarchy. In the modern era, those leading tens of thousands of people, in businesses that were founded decades ago are now expected to display those same qualities. In a [...]
Tesla shares fall after Musk trolls US securities watchdog October 5, 2018 Tesla billionaire Elon Musk appeared to mock the US Securities and Exchange Commission (SEC) on Twitter late last night, less than four hours after a federal judge demanded an explanation of the settlement deal reached between the two sides. "Just want to [sic] that the Shortseller Enrichment Commission is doing incredible work," wrote Musk, who has frequently [...]
Tesla to defend lawsuit alleging foreign workers were threatened with deportation October 3, 2018 A case filed against Tesla in California which alleges the firm knew foreign employees were threatened with deportation has been given the green light to go to trial. US federal judge Lucy Koh ruled Tesla must defend itself against two of seven claims, in which the plaintiffs argue foreign workers at its Fremont, California plant [...]
Tesla raises fears over China tariffs despite beating Model 3 delivery targets October 2, 2018 Production of Tesla cars reached a record high in the last quarter, but the firm remained hesitant of future success in China as a result of 40 per cent tariffs imposed on automotive imports from the US. The electric vehiclemaker said it produced over 80,000 cars in the third quarter, while deliveries to customers reached [...]
Tesla shares bounce back after Elon Musk agrees to step down as chairman October 1, 2018 Tesla shares have jumped over 16 per cent following a backlash last week over the company's $40m (£31m) fine from the US Securities and Exchange Commission (SEC). Musk has been pursued by the SEC over a tweet he sent in August saying he has secured funding to take Tesla private at $420 per share. The SEC said [...]
DEBATE: Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? October 1, 2018 Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? Kathy Gromotka, associate at Downing Ventures, says YES. We back entrepreneurs because we buy into their desire and ability to behave in a way that creates value, whether they’re a star in the spotlight or operating in stealth mode. Elon [...]
Character assassination: Business bosses are starting to realise that Twitter has a price September 30, 2018 It is not boardroom discord or tumbling profits that are causing mayhem for Elon Musk, the maverick and publicity-hungry Tesla chief who is set to lose his role as chairman. It’s his Twitter habit. His case exemplifies how Twitter, the social media platform that can send 280 poorly chosen characters right round the world in [...]
Musk to step down as Tesla chairman and pay $20m fine in settlement with US regulators September 30, 2018 Elon Musk is to step down as chairman of Tesla after settling a fraud lawsuit with US regulators over tweets he made about taking the firm private. The billionaire boss of the electric car-making firm has also agreed to pay a $20m (£15m) fine from the US securities and exchange commission (SEC), staving off a [...]