For Elon Musk, a recession is inevitable - DALTONHURD

For Elon Musk, a recession is inevitable




Photo credit © Reuters

(Boursier.com) — Elon Musk, CEO of You’re here and SpaceX, therefore spoke with the editor of Bloomberg News, John Micklethwait, during the Qatar Economic Forum. According to the multi-billionaire, there are still some “unresolved questions” regarding the planned acquisition of Twitter. “There is the question of whether the debt part of the financing will be met and then whether the shareholders will vote in favor of the deal,” said Musk, who also wants to better assess the extent of the phenomenon of ‘bots’ and fake accounts on the platform.

Musk also spoke about the economy, and did not go into nuance. According to him, a recession in the United States “is inevitable at some point”. “As to whether there is a recession in the short term, it is more likely than not,” added the businessman. Recall that President Joe Biden and Treasury Secretary Janet Yellen have for their part estimated in recent days that a recession was on the contrary “not inevitable”…

The richest man in the world also provided some updates on the job cuts at Tesla: “Tesla will reduce its salaried workforce by approximately 10% over the next approximately three months. We plan to increase our hourly workforce We’ve grown very fast on the employee side, a little too fast in some areas,” Musk said, noting that those cuts represent 3.5% of the automaker’s total workforce.

Supply constraints are the biggest drag on Tesla’s growth, rather than competition from rival automakers, Musk said: “Our constraints are much more in raw materials and the ability to scale up production.”

Finally, when asked about his possible support for Donald Trump in the next US presidential election, Musk said he was “undecided at this stage”…


©2022 Boursier.com



Leave a Comment