News
Elon Musk responds to reports of his search for a new Twitter CEO
Elon Musk responded to the reports of him actively searching for a new Twitter CEO. Citing sources, CNBC reported that Elon Musk is looking for a new CEO for the social media platform. On Sunday, he asked Twitter users if he should step down as head of the company and would abide by the results of the poll.
Elon Musk’s response to the report was two laughing emojis which could mean anything.
🤣🤣
— Elon Musk (@elonmusk) December 20, 2022
When Sunday’s Twitter poll ended, the vote favored him stepping down as head of Twitter. CNBC also noted that malicious bots or inauthentic accounts could also respond to Twitter polls.
Global consumer and voter research company, HarrisX, found that a majority of Americans want Elon Musk to remain as Twitter’s CEO in an overnight poll ran from December 18-19. The survey was conducted among 1,028 adults and 429 Twitter users, HarrisX said.
“The findings of the study debunk the results of Elon Musk’s Twitter poll on whether or not he should step down as CEO, and provide a representative, statistically-relevant perspective of what Twitter users and Americans think of his leadership. A majority would like Mr. Musk to remain on as head of Twitter, with over 6 in 10 Twitter users expressing that sentiment,” said Dritan Nesho, CEO of HarrisX and chief researcher.
Sunday’s Twitter poll results do not mean that Elon Musk is stepping down from his position immediately, but it does serve as a reminder that his position as CEO was planned to be temporary.
In May, it was reported that Elon Musk would be Twitter’s CEO temporarily once he finalized the purchase of the platform.
In November, Elon Musk testified in a case and said that his position as CEO of Twitter was only temporary. He also said that he doesn’t want to be CEO of any company, and this is something he’s said several times in many different interviews.
Based on his testimony and the earlier report, it is expected that Elon Musk is looking for a replacement. However, that replacement will need to meet the standards he has set in place, which, in his own words, are:
“The question is not finding a CEO, the question is finding a CEO who can keep Twitter alive.”
He added that no one wants the job who can actually keep Twitter alive. “There is no successor.”
No one wants the job who can actually keep Twitter alive. There is no successor.
— Elon Musk (@elonmusk) December 19, 2022
Research scientist at MIT and artificial intelligence expert and podcast host, Lex Fridman offered to volunteer for the position with no salary. Fridman, who often speaks of spreading love and kindness, has interviewed Elon Musk and several other CEOs, politicians, and experts on various topics.
Fridman offered to run Twitter with no salary. “All in. Focus on great engineering and increasing the amount of love in the world. Just offering my help in the unlikely case, it’s useful.”
Elon Musk responded, noting that Fridman must like pain. “One catch: you have to invest your life savings in Twitter, and it has been in the fast lane to bankruptcy since May. Still want the job?”
Yes. We'll turn it around.
— Lex Fridman (@lexfridman) December 18, 2022
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News
Tesla enters interesting situation with Full Self-Driving in California
Tesla has entered an interesting situation with its Full Self-Driving suite in California, as the State’s Department of Motor Vehicles had adopted an order for a suspension of the company’s sales license, but it immediately put it on hold.
The company has been granted a reprieve as the DMV is giving Tesla an opportunity to “remedy the situation.” After the suspension was recommended for 30 days as a penalty, the DMV said it would give Tesla 90 days to allow the company to come into compliance.
The DMV is accusing Tesla of misleading consumers by using words like Autopilot and Full Self-Driving on its advanced driver assistance (ADAS) features.
The State’s DMV Director, Steve Gordon, said that he hoped “Tesla will find a way to get these misleading statements corrected.” However, Tesla responded to the story on Tuesday, stating that this was a “consumer protection” order for the company using the term Autopilot.
It said “not one single customer came forward to say there’s a problem.” It added that “sales in California will continue uninterrupted.”
This was a “consumer protection” order about the use of the term “Autopilot” in a case where not one single customer came forward to say there’s a problem.
Sales in California will continue uninterrupted.
— Tesla North America (@tesla_na) December 17, 2025
Tesla has used the terms Autopilot and Full Self-Driving for years, but has added the term “(Supervised)” to the end of the FSD suite, hoping to remedy some of the potential issues that regulators in various areas might have with the labeling of the program.
It might not be too long before Tesla stops catching flak for using the Full Self-Driving name to describe its platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
The Robotaxi suite has continued to improve, and this week, vehicles were spotted in Austin without any occupants. CEO Elon Musk would later confirm that Tesla had started testing driverless rides in Austin, hoping to launch rides without any supervision by the end of the year.
Investor's Corner
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.