*By: Hope King* Our look back at Tesla this week actually starts with last week ー last Friday actually, when CEO Elon Musk published a blog post on his company’s website stating he had changed his mind: Tesla is [“Staying Public”](https://www.tesla.com/blog/staying-public%20). Investors weren’t thrilled by the news and punished the company’s stock price. Shares of Tesla have been down all week; the stock has fallen about 7% since Friday's close. During the week, Musk found himself in hot water again after repeating a claim on Twitter that one of the rescue divers who saved a group of young boys trapped in a cave in Thailand [is a pedophile](http://www.latimes.com/business/autos/la-fi-hy-musk-pedo-suit-20180829-story.html). Musk and his company also became a side topic of conversation with two powerful men this week: former White House chief strategist Steve Bannon and Berkshire Hathaway CEO Warren Buffett. Bannon has attacked major tech companies for years and [told CNN Wednesday night](https://money.cnn.com/2018/08/30/media/steve-bannon-elon-musk/index.html]) that Musk “flat out lied about securing funding” for his plans to take Tesla private. He also called Musk a man-child in the same interview. Buffett didn’t go nearly as far. In an [interview with CNBC](https://www.cnbc.com/video/2018/08/30/buffett-i-have-better-things-to-do-than-tweet.html), the Oracle of Omaha mused that Musk’s tweets have not “helped him a lot.” Buffett, in a separate interview with [Fox Business](https://video.foxbusiness.com/v/5828949631001/?#sp=show-clips), also weighed in on the idea that Apple could or should buy Tesla, saying that would be a very “poor idea.” Outside of the he-said-this-about-that-guy room, there was actual news about Tesla. BlackRock, [in a filing with the SEC](https://www.reuters.com/article/us-tesla-musk-blackrock/blackrock-voted-to-replace-teslas-musk-with-independent-chairman-idUSKCN1LG01R?il=0), revealed that the funds it runs voted in favor of a recent shareholder proposal to replace musk with an independent chairman. That proposal was defeated at Tesla’s shareholder meeting in June. Also, Bloomberg [on Wednesday] (https://www.bloomberg.com/news/articles/2018-08-29/tesla-hr-chief-has-been-on-leave-of-absence-amid-musk-s-tumult) reported that the company’s head of HR has been on leave of absence during this tumultuous time. And the kicker for this week – security cameras in Canada captured a Model S flying through the air…before crashing. Musk responded to video, [tweeting simply](https://twitter.com/elonmusk/status/1035029257557237760?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1035029257557237760&ref_url=https%3A%2F%2Fwww.businesslive.co.za%2Fbd%2Fnational%2F2018-08-31-elon-musks-bizarre-tweet-after-watching-footage-of-flying-tesla%2F)]: “!”

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More