Tesla Quietly Removes All U.S. Job Postings
gizmodo.com
gizmodo.com
It's become pretty common to use job postings as a diagnostic or predictive source. I remember when I first noticed an article inferring that such-and-such a company must be developing such-and-such a type of video game, because they were hiring for people with particular technical skills which implied a certain development path. I thought "oh, that's clever, I never would have thought to monitor job boards to learn about the future, but it makes sense". Now that practice of reporting on hiring is just de rigeur across coverage of many different industries, I think.
I wonder if there will be some kind of response from companies, to try to hide or obfuscate such information—which may sometimes amount to a trade secret, or sometimes (as in this Tesla case) just a present kernel for bad publicity to form around. Maybe leaving up positions with no intention of filling them, or posting fake positions to send confusing signals to people watching you? They probably already do this, come to think of it.
The end result would be increased annoyance and frustration for people applying to those jobs.
Just giving every enterprise company too much credit here.
IANAL, but would promissory estoppel offer a remedy in those cases (https://en.wikipedia.org/wiki/Estoppel#Promissory_estoppel_2)?
Though this kind of behavior is common enough that I wonder if companies have found a way to weasel out of it, or they're just getting away with it due to ignorance or a reluctance to sue by those they have wronged.
They already do this in the form of third party job postings which will describe the role/work but not name the company. There are tons of these all over linkedin.
Is that pronounced "shitter"?
Or, as a hiring manager, don't be a douche and be candid with your team.
https://arstechnica.com/cars/2024/05/teslas-self-driving-cla...
This is just giving Musk more runway to make promises that Tesla will fail to deliver on. When the robot fails, he'll pivot to promising something different, and the cycle will repeat.
Tesla has been lying about being a "tech" company to justify its obscene stock price for a decade. "Look we write software so it's okay that we are priced more than the entire rest of the industry combined"
If Tesla's plan is to sell more EVs, they should find a new CEO.
I don't think the divide is all that significant. There may be a slightly bigger percentage buying for a perceive environmental reason, but Teslas are mainly purchased by the rich, politics be damned.
Is it really a status symbol? Have you seen the people who drive a model Y?
What I see is another one or two more bad quarters foreseen by Tesla senior management. It takes time to get a supply of resumes. It takes time to hire. They even need to hire a new head of HR. Evidently there will be no hiring any time soon.
As an anecdote example:
* Pre-2021, my house was 160k, with about 10% down, resulting in P&I of about $750.
* Post-2021 (and no significant change since, the same house can probably sell for near $320 (& definitely $290 at the low end). To buy this, you'll need twice the down payment, and even with 10% down, your P&I is now nearly $2000 (due to the higher interest rates and huge principal).
A dollar in 2018 is worth 2.67x more than a dollar today. It's pretty apparent in equities, but also in commodities, and there's no going back to pre-2021 monetary values. "Inflation" may or may not have slowed down, but a lot of people are now stuck until deflation actually occurs or significant salary growth occurs.
Hint: if your analysis does not involve US counterparties, it can only ever be correct by accident.
> You can blame inflation for part of that.
How so? As you acknowledged, number go up internally doesn't mean number doesn't go down relative to other currency, leaving relative expensiveness the same.
- Car companies paywalling hardware and software features while selling data (including GPS location, speed, etc.) to data brokers.
- Netflix raising subscription fees in spite of the fact that they've cancelled so many original shows and lost so much of their leased catalog.
- Grocery stores and fast food restaurants firing cashiers and replacing them with unreliable self-checkout kiosks (pushing the work off onto the customer while continuing to charge them just as much, if not more).
- Wendy's adding "surge pricing" and replacing drive-through workers with an AI that's barely 80% accurate. (So they'll charge you more just because and still fuck up your order.)
There are other examples, these are just the ones that are fresh in my mind right now.
It is called rent-seeking https://en.wikipedia.org/wiki/Rent-seeking
FTA: Rent-seeking is the act of growing one's existing wealth by manipulating the social or political environment without creating new wealth.[1] Rent-seeking activities have negative effects on the rest of society. They result in reduced economic efficiency through misallocation of resources, reduced wealth creation, lost government revenue, heightened income inequality,[2][3] risk of growing political bribery, and potential national decline.
Successful capture of regulatory agencies (if any) to gain a coercive monopoly can result in advantages for rent-seekers in a market while imposing disadvantages on their uncorrupt competitors. This is one of many possible forms of rent-seeking behavior.
It's not that exciting.
Is this "excellent, necessary and trustworthy test" referring to some specific criteria at Tesla or is it judged at an executives discretion?
[1] https://www.drugtestpanels.com/blogs/articles/does-tesla-dru...
And if any of these people sneeze in Musk's direction, they'll be fired along with the executive for not "following direction".
"Trustworthy"? That sounds like he wants a loyalty pledge and a salute.
Tesla should survive for many reasons (product need, ~120k global workers), but needs an adult in charge. No one is irreplaceable, even Musk. Preserve the enterprise, its value, and the jobs.
It really seems like as soon as interest rates rose all of a sudden every "Super CEO"'s business portfolio was in troubled waters.
I mean, tons of shareholders are literally fighting to give Elon another $50 billion in stock, diluting themselves.
You also are not laying out exhaustive and conclusive evidence that laws are needed for this.
I think your Elon example isn’t good and has more to do with politics than business/economics.
Sorry if your comment wasn’t the parent that I replied to saying we need more laws without any evidence to support that conclusion.
And now you bring up Holmes.
But I agree, Tesla isn't going anywhere.
If this were any other company, HN would instantly and unanimously recognize that this is as the classic MBA/PE blunder of cutting costs but and gutting any chance at future success; the only reason people aren't recognize it as such is because of lingering goodwill towards Elon.
My guess is we shall shortly see establishment of a new body to manage, pay and extend the SuperCharger network, but as a neutral body acting on behalf of all car makers. Similarly, its no longer just Tesla who have a monopoly on SuperCharger sites - other companies can now build NACS fast chargers such as Electrify America etc:
> https://media.electrifyamerica.com/en-us/releases/223
Will this be as good as the original network's reliable hardware? Probably not in some places! But just as we don't expect Ford to own every single gas pump, every NACS site being owned and operated by Tesla was probably a non-starter too, especially now its going to be virtually universal across the US EV landscape.
> low debt, lots of cash equivalents on hand
Then why fire 20% to 40% (as some rumors are pointing out today) of your staff? Why get rid of the supercharger team? Why get rid of the new vehicles team?
If they really were "low debt" and "lots of cash" on hand kind of company, then there's no reason for huge cuts.
The knee-jerk reaction to just start laying off huge swaths of the company to compensate is... understandable. Clearly a dumb move but understandable. I think you're underselling the clear problems of Tesla the company that go far above and beyond Elon Musk.
Was firing the whole Supercharging team the right move? Probably not. In fact, I'm certain that this move will only make fewer people buy Tesla, now that the charging situation is complete chaos. But given the numbers, Tesla doesn't have many quarters of runway left (even with Tesla's $26 Billion in cash and short-term investments, there's over $15 Billion in various liabilities. So Tesla only has ~4 more quarters at this cash-burn rate before it runs out of cash).
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Tesla sales in China, Germany, and USA are all down for April 2024 as well. Meaning there's even larger inventory glut and even more cash-flow losses.
Supercharging is already fired. There's no way that team can likely ever be recovered, and the goodwill between Supercharger and all of their installers has been destroyed. (Its risky for a company to invest $10,000+ per supercharger on their property, only for them to be Ghosted on an Elon whim). That's permanent damage to the brand, I don't think anyone would want to build superchargers after hearing the horror stories of these ghosted businesses.
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Remember: bankruptcy is a cash-flow issue. Not a profitability issue. If you run out of cash, that's it. You can't pay suppliers and thus they'll force you into bankruptcy (eventually).
But maybe everyone is starting to realize they aren't going to sell 20 million cars per year. Maybe?
Nope, now people believe they are going to sell billions of robots.
(for X=0)
Now, fire whole teams, cease all hiring, and ... profit?
Well played Elon!
"In Comments
Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes."
there's probably also real, good, cost savings going on from it which should help but isn't geting the news bump he wants