Musk Defends His Testy Conference Call
CBJ — He is known as one of the great innovators of our time but Tesla CEO Elon Musk is now also getting the reputation for being a tad cranky when it comes to answering questions about sell-side analysts who represent a short seller thesis, and not investors, as had been declared in some circles.
Not surprisingly the recent conference call set off a firestorm on social media when the line of questioning and answers went somewhat sideways. Some people support Musk’s stance, others do not.
Musk is well known for his offbeat, quirky style, but that all came under intense scrutiny after the conference call for Tesla’s quarterly earnings. Musk was criticized for cutting off two analysts that asked about the electric vehicle and solar panel company’s cash needs and orders for its Model-3. Musk called the questions “dry” and “not cool.”
Musk later tried to clarify some comments he made during the call, tweeting that he deemed a question about capital expenditures was silly because the answer was already given in a Q1 newsletter.
“(The) reason RBC question about Model 3 demand is absurd is that Tesla has roughly half a million reservations, despite no advertising & no cars in showrooms. Even after reaching 5k/week production, it would take 2 years just to satisfy existing demand even if new sales dropped to 0,” Musk said in a reply on his Twitter account.