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Tesla Reports Profit Drop On Price Cuts, Lower Vehicle Sales (www.ibtimes.co.uk)

submitted 3 months ago by rosschie to c/technology@lemmy.world

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Tesla reported a hefty drop in second-quarter profits Tuesday due to the effect of price cuts while spending aggressively on autonomous driving and other technology.

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[–] eltrain123@lemmy.world 5 points 3 months ago

It did pass and is tied to performance of the company. He doesn’t actually get a 55B bonus. His bonus is in the form of stock, its award is tiered based on revenue-tied performance, and he can’t sell the stock until 5 years after it’s awarded, as to prevent a pump-and-dump incentive structure.