What Next | Daily News and Analysis TBD | Why Wall Street Can’t Quit Elon
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Apr 6, 2025 
Felix Salmon, Chief Financial Correspondent at Axios and co-host of Slate Money, dives into Elon Musk's intriguing connection with Wall Street. He discusses Wall Street's enduring support for Musk, despite controversy surrounding his leadership. The conversation highlights the clash between Musk's unorthodox style and traditional corporate norms while unpacking Tesla's recent sales decline. Salmon also explores the implications of Musk's unpredictability for investors and the complex interplay between financial markets and political dynamics.
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Tesla's Valuation
- Tesla's stock valuation has never primarily reflected its car sales.
- It's tied to Elon Musk's persona and bets on future technologies like robots and self-driving cars.
CEO Accountability
- CEOs are typically accountable to the board of directors, who are accountable to shareholders.
- Boards have a responsibility to fire underperforming CEOs, a standard practice.
Musk's Unique Position
- Unlike typical CEOs, Elon Musk remains in his position despite Tesla's underperformance.
- Tesla's board is filled with Musk loyalists, making his removal unlikely.