Tesla recently held its third quarter results conference call, and on that call, the charismatic CEO, Elon Muskshowed an unusual side when presenting challenging figures: declining sales, declining profits and rising costs.
In a scenario where business leaders often reassure investors and present plans for the future, Musk opted for a different approach. Apparently, was close to tears live during the call, according to reports. According to the report of Jalopnik, “He almost cried like a baby.””.
“Mini disaster” and “terrible”
Wall Street analyst Dan Ives called the earnings a “mini disaster” referencing Tesla’s profit margins and pricing inconsistency. Instead of addressing these concerns, Musk appeared to focus on issues such as the long-awaited Cybertruck and federal interest rates.
Another analyst, Kevin Paffrath, was even more critical, noting that the call was “terrible” and expressed compassion for Musk amid his personal challenges, including legal and child custody battles. However, Paffrath criticized the CEO’s behavior on the call, comparing it to former President Donald Trump’s attitude on Twitter and calling Musk a “baby” for his emotional reaction.
The earnings call left some doubts regarding Tesla’s leadership, with Paffrath stating that the company lacks leadership at this time. Additionally, the departure of Tesla’s CFO was cited as an indication of the internal challenges facing the company.
These revelations have raised concerns among investors, who fear that Musk’s other projects and interests may be interfering with Tesla’s management. Instead of focusing on strategies for the auto company’s prosperity, Musk appears to be taking to social media to express his frustrations.