Elon Musk had a bad week on Tesla, SpaceX and Twitter

Elon Musk stops and looks down as he speaks during a press conference at the SpaceX Starbase facility near the village of Boca Chica in South Texas on February 10, 2022.

Jim Watson AFP | Getty Images

In the year that was especially eventful Elon Muskit was definitely a difficult week.

TeslaShares of ‘s, which lost almost half of their value after a peak in November, fell nearly 6% in the last week as investors continued to sell off their technology assets.

There are internal problems in Tesla that do not help. This week, they were related to safety issues with the company’s advanced driver assistance systems.

Musk’s other big company, SpaceX, fired a group of employees who circulated an internal letter that reportedly denounced the CEO and founder as “distracting and embarrassing.” Meanwhile, the Federal Aviation Administration on Monday handed SpaceX’s Starship rocket program a long list of tasks before it could be licensed to launch in Boca Chica, Texas.

Then there is Twitter. Musk agreed to buy the social media company for $ 44 billion in April, but has since publicly ruined it, raising concerns about whether the deal will actually be completed. On Thursday, Musk spoke to Twitter staff for the first time in a video that was widely circulated, based on messages that appeared in an internal chat.

Here is what happened in Musk this week.

Problematic data on accidents with a driver’s assistant

The NTSB has published this image of a 2021 Tesla Model 3 Long Range Dual Motor electric car that was involved in a fatal accident near Miami that killed two people in September. 13, 2021.

NTSB

IN This was announced on Wednesday by the National Road Safety Administration that Tesla vehicles have caused nearly 70% of reported crashes, including advanced driver assistance systems since last June. Data provided by the US Safety Agency says that electric cars were involved in 273 of the 392 accidents cited in the report, which includes data from 11 carmakers.

However, NHTSA said the data did not have an appropriate context and was intended only as a guide to quickly identify potential trends for defects.

“I would recommend that you be careful before trying to draw conclusions based only on the data we publish,” NHTSA Administrator Stephen Cliff said during a media event. “In fact, the data alone can raise more questions than they answer.”

Tesla raises prices for car models in the United States

Tesla model 3

Courtesy of: Tesla

When Musk announced plans in June to cut 10 percent of Tesla’s workforce, the chief executive said he had “super bad feeling“For the economy. For consumers, these fears turn into a shock of stickers.

Tesla increased prices for all car models in the United States. this week as the automotive industry continues to grapple with supply chain problems, inflation and economic uncertainty.

The company raised the price of its long-range version of the Model Y to $ 65,990 from $ 62,990 and raised the production model by $ 2,000 to $ 69,990, according to its website. Said Electrek the cost of all-wheel drive Model S increased by about $ 5,000 to $ 104,990. The X Dual Motor All-Wheel Drive Long Range went up by $ 6,000.

Earlier, Tesla delayed deliveries of some of the long-range models in the United States by up to a month.

The FAA says the SpaceX Starship program needs adjustments

FAA on Monday made an environmental decision that led to a mix of good and bad news about Musk’s SpaceXand the huge Starship rocket the company is developing in Texas.

The regulator has issued a list of more than 75 environmental mitigation actions that the company must complete before it can move forward with the Starship summer tests. The requirements include restrictions on noise levels and how often SpaceX can close the public highway near the facility.

Following the FAA decision, Musk said the company will have a prototype of the Starship rocket, “ready to fly” by July. The company is aiming to reach orbit with the vehicle for the first time. But first, a startup license is required from the FAA, and the required mitigation of the regulator represents a significant increase before the company can request one.

The good news for SpaceX is that the FAA has completed its assessment and does not require a more in-depth review.

SpaceX employees are embarrassed by Musk

Musk’s plan to buy Twitter has worried politicians around the world.

Joe Skipper Reuters

An unknown number of SpaceX employees wrote and distributed an internal letter criticizing Musk and his public behavior, describing it as a “frequent source of distraction and embarrassment,” according to media reports. CNBC reported on Friday that at least five employees involved in the letter have been fired as a result.

SpaceB President and Chief Operating Officer Gwyn Shotwell, in an email to the entire company received from CNBC, said the letter and the process of attracting signatories “upset many” employees who she said felt “uncomfortable, scared and harassed”.

“We have too much critical work to do and there is no need for this kind of excessive activism,” Shotwell wrote. “I am sorry for this distraction. Please stay focused on SpaceX’s mission and use your time to do your best. ”

Musk’s call to Twitter did not go well

Elon Musk’s Twitter account is visible through the Twitter logo in this illustration, made on April 25, 2022.

Dado Ruvich Reuters

With Twitter’s share price trading around $ 37, well below the $ 54.20 that Musk agreed to pay for the company, investors and employees are rightly worried about the future.

Musk’s meeting with all Twitter employees on Thursday it seemed like an effort on the part of the potential future owner to create a sense of trust and transparency with the people who would work for him.

But Slack’s reactions after the meeting showed that employees were still left with questions and concerns, according to a person who saw the messages but asked not to be named because they were intended to be private.

While a former CEO Jack Dorsey promised employees the opportunity to work remotelyMusk has taken a very different approach to his companies, recently asking Tesla and SpaceX workers to be at least in the office 40 hours a week.

Musk said during the conversation that he may not be so strict with Twitter employees, as software development can be more easily managed remotely, while car production requires a physical presence.

But his answer did not allay fears. His comments also made some Twitter employees fear for their work, according to an acquaintance. Addressing fears of potential layoffs, Musk said Twitter should be in a sound financial position, but that “anyone who has made a significant contribution has nothing to worry about,” he said.

In response, Twitter staff shared messages and memes towards the end of the meeting, telling how to mark themselves as exceptional.

– Michael Wayland of CNBC contributed to this report.

I WATCH: Musk tells Twitter employees that he wants at least a billion users a day

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