*By Carlo Versano*
After [reports](https://www.bloomberg.com/news/articles/2018-08-23/musk-is-said-to-hire-morgan-stanley-to-help-take-tesla-private) circulated that Elon Musk hired Morgan Stanley to personally advise the CEO on his options to take Tesla private, watchers are wrestling with what's perhaps the question of the summer: is the innovative, but beleaguered automaker better off public or private? And maybe more interesting: is it better off with or without Musk at the helm?
Aaron Cole, managing editor of [Motor Authority](https://www.motorauthority.com/), remains skeptical that Tesla would flourish as a privately run company. Financial transparency and pressure from investors, both part of being public, make corporate governance stronger, he said.
"Tesla has a better route being a public company."
Furthermore, even with Morgan on board as an adviser, privatization would be a far-off future, Cole said. Despite Musk's public statements to the contrary, Cole pointed out the electric carmaker has "no reasonable" way to buy out its investors.
Cole doesn't buy the "cult of Elon" theory either. The CEO's erratic behavior has caused more harm than good, Cole said, and the company may actually benefit if Musk takes a leave of absence.
Cole anticipates Tesla is about to face serious competition from Porsche and Mercedes-Benz as they enter the high-end electric car sector. Musk's do-it-all approach to management is not feasible in a competitive marketplace, Cole said.
"If Elon stays, Tesla also has a tough road," he said.
For full interview [click here] (https://cheddar.com/videos/tesla-private-bid-inches-forward).
Breaking down the good, the bad, and the new in business on Monday, June 13, 2022, with JP Morgan's bullish Apple take, EV startup Electric Last Mile Solutions planning to declare bankruptcy, and Amazon getting ready to roll out its new drone delivery service in California.
Jay Hatfield, Chief Investment Officer at Infrastructure Capital Management, joined Closing Bell to break down the big factors leading to this latest market meltdown, as inflation and an upcoming Fed policy decision affect investor sentiment.
Tech apprenticeship platform Multiverse became a unicorn with a $1.7 billion valuation, after raising $220 million in a Series D round. As companies across the country face challenges in hiring and retaining tech talent, Multiverse says it's trying to offer a solution with a new way to train and hire workers that can serve as an alternative to college and corporate training. Sophie Ruddock, VP and GM North America of Multiverse, joins Cheddar News' Closing Bell to discuss.
Bitcoin's price has fallen below $24,000, its lowest level since December 2020. Matt Hougan, CIO at Bitwise Asset Management, joined Cheddar News to discuss the future of crypto amid the latest high-profile point of concern, the halting of withdrawals at Celsius Network. "Last month we saw Luna collapse. This month we're seeing Celsius possibly collapsing," he said. "So this stress test is finding weaknesses in the crypto ecosystem and it will continue until we get to a strong foundation from which crypto can recover."
