Twitter, Tesla, governance: the dictatorship of the polls

Posted Dec 19 2022 at 19:24Updated Dec 19. 2022 at 7:30 PM

Mitterrand once wondered what polls on Munich in 1938, on the armistice in 1940 and on Pétain in 1942 after the end of the free zone would have delivered as a result. Forty years later, Elon Musk is polling the world on any issue with the $44 billion purchase of his own institute, Twitter. But these simulacra of direct democracy have only slightly advanced it. They may have realized investors’ worst nightmare, and that is contaminating Tesla.

Although the automaker fell below $500 billion in market capitalization for the first time in two years, the billionaire’s latest consultation on his continued leadership of Twitter, which was rejected by a majority, was a step towards the dream outcome. by its shareholders: see the engineer content on the electric car.

Labor rights and competition in the viewfinder

But the good news was overshadowed by Democratic Senator Elizabeth Warren’s letter to the Austin firm’s board.

Many questions from the Massachusetts elected official about governance, the management of conflicts of interest, and Elon Musk’s use of Tesla employees to straighten out Twitter have already been asked by managers.

But those on respect for labor law and that of competition bring Tesla closer to the whirlwind of controversies that have scared away Twitter advertisers. The “Musk premium” on Ferrari at the start of the year (145% in terms of multiples) has become a discount (13%). Or how to discover the other side of the dictatorship of the polls…

To note

Nearly 57.5% of the 17.5 million “voters” said “no” to keeping Elon Musk as Twitter boss.

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