A reader pointed me towards a series of Tweets last night that make it look like that Elon Musk is selling a significant amount of Tesla stock all of a sudden:
Four billion dollars isn’t a small amount. Thus I have to assume that it’s one of two reasons that’s driving this stock purchase:
- He needs the money because he has to pay back the massive amount of money that he borrowed to buy Twitter.
- He needs the money just to keep the lights on at Twitter.
Perhaps it’s both at the same time. The fact is that we don’t know and can only speculate as a result. And chances are, Musk isn’t going to say. But I can say that selling this much Tesla stock is going to cause Tesla’s stock price to drop. In fact, it is down 3% as I type this which was early this morning while it was still dark. That will anger Tesla stock owners if it stays there or goes lower when the markets open. So he may end up having a new problem to deal with on top of Twitter. Which will make Wednesday a difficult day for Elon.


Salesforce Apparently Cut “Hundreds” Of Employees On Monday
Posted in Commentary with tags Salesforce on November 9, 2022 by itnerdEven before the news that Meta has slashed thousands of jobs hit the wires, news filtered out on Tuesday that customer relationship management software provider Salesforce has cut jobs on Monday. CNBC has the details:
Salesforce on Tuesday confirmed that it cut some employees this week after the enterprise software maker saw demand lighten in some countries and industries.
Protocol reported earlier on the cuts, saying they could affect up to 2,500 employees. One person familiar with the matter said Salesforce let go of fewer than 1,000 people Monday. At the end of January it employed 73,541 people. In August Salesforce said in a filing that headcount rose 36% in the past year “to meet the higher demand for services from our customers.”
“Our sales performance process drives accountability. Unfortunately, that can lead to some leaving the business, and we support them through their transition,” a Salesforce spokesperson told CNBC in a statement.
With a looming recession, I’m expecting to be writing a lot of stories like this. And the thing is that I work with a number of people that are employed by Salesforce. I’ll be pinging them to make sure that they still have jobs because things are getting brutal out there.
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