Australian (ASX) Stock Market Forum

Elon Musk

Jump to new
moXJO said:
Be interesting to see where it is in a couple years time. Perhaps they are trying to shift workers into contractor roles. Less rent, less insurance, less disagreement and hr.

People in their homes for the majority of the time will definitely change spending habits.
City lunches will be a thing of the past.
Click to expand...
And obviously if you can do your job WFH, so does John from Islamabad or Shannon from Bangkok..for $3 an hour
And i am not talking about new IT nomads here but the complete outsourcing of white collar jobs.
So obvious..
 
moXJO said:
I'm sure a historian recently said that one reason Rome fell was because they got lazy. Something about "prosperity making them weak".
Sure as hell makes you wonder if we want a repeat.
Click to expand...

Have a watch of this -

 
Last night at our irregular Friday night pub dinner , we were talking about just this very topic.
There was as usual, an eclectic mix of private enterprise, both business owners and employees, as well as public sector employees from various levels.
The general consensus among the public sector folks was that WHF was a great thing, because of what it provided for the employees.
However, among those in the private sector, there was less enthusiasm.
Their concern was not so much about whether it made employees better off, but the quality of work produced, quite a subtle difference.
Obviously, for those who were or employed tradesman, it was just not feasible.
Same with the guy who owned a contract ag business, and the one who ran a cartage business.
The professional ones were in agreement that for various reasons, their job was a more comfortable working from home, having to attend less meetings, no travel etc etc.
However, they also said that productivity for them plummeted.
It was not because of the work hours changed, it was the was decision making was interrupted, some sensitive discussions/datapoints that could not be discussed in an open coms environment, problems with lack of security on private networks or poor comms at the location, lack of privacy when in a home environment (just ask that Carrie woman about that one).
Another who dealt with a large govt agency found that when she wanted to ring someone, private numbers were not disclosed, so she had to ring a receptionist (who may or may not have been at home), and then the receptionist would call the person concerned who would,at their leisure, call the originator back. Sometimes that took a number of days, which was extremely frustrating when they were used to being able to call and get someone immediately.
The guy in civil construction complained about zoom team player etc being unable yo provide sufficient detail when trying to get multiple folks looking at large scale drawings, models etc, or anything that went over multiple pages.
So a variety of responses, mostly dependent on whether you worked for a living in private industry versus got paid in the public sector.
Mick
 
Even as a Self Employed work from home investor I know my own productivity is lower than it would be if I was in an office environment, but I kind of like it that way.

But, if some third party was employing me to work for them, I can see how my Late starts, long lunch’s and early knockoffs would upset them ?, some times my projects drag out for months, and some times I just don’t do anything for a few weeks.

Right now I sat down to read over some family trust accounting information that I have been putting off for days, but here I am checking in on ASF…. Anyway I better read these docs because I want to break for lunch in 40 mins because me and the wife are half way through watching Star Wars, ?
 
"Tesla CEO Elon Musk said in an email to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers."

"Shares of Tesla dipped 9% on Friday by midmorning after Reuters reported on an earlier email Musk had sent to executives about his plans to cut the company’s workforce and expressing a “super bad feeling” about the economy."

So the order to return to the office 40+ hrs/wk may actually have the ulterior motive of getting staff to resign first and avoid redundancy payments. The fact that a car company wants workers to return to the factory in their cars may be another reason. Work from home does not suit a car company's agenda.

"The co-founder of Australian project management software maker Atlassian Plc, Scott Farquhar, ridiculed the directive in a series of tweets as being "like something out of the 1950s". The US-listed company's "work from anywhere" policy was "key for our continued growth", he said.

"We're setting our sights on growing Atlassian to 25K employees by FY26," Farquhar concluded. "Any Tesla employees interested?" :D

This guy's commentary is spot on...
 
mullokintyre said:
Last night at our irregular Friday night pub dinner , we were talking about just this very topic.
There was as usual, an eclectic mix of private enterprise, both business owners and employees, as well as public sector employees from various levels.
The general consensus among the public sector folks was that WHF was a great thing, because of what it provided for the employees.
However, among those in the private sector, there was less enthusiasm.
Their concern was not so much about whether it made employees better off, but the quality of work produced, quite a subtle difference.
Obviously, for those who were or employed tradesman, it was just not feasible.
Same with the guy who owned a contract ag business, and the one who ran a cartage business.
The professional ones were in agreement that for various reasons, their job was a more comfortable working from home, having to attend less meetings, no travel etc etc.
However, they also said that productivity for them plummeted.
It was not because of the work hours changed, it was the was decision making was interrupted, some sensitive discussions/datapoints that could not be discussed in an open coms environment, problems with lack of security on private networks or poor comms at the location, lack of privacy when in a home environment (just ask that Carrie woman about that one).
Another who dealt with a large govt agency found that when she wanted to ring someone, private numbers were not disclosed, so she had to ring a receptionist (who may or may not have been at home), and then the receptionist would call the person concerned who would,at their leisure, call the originator back. Sometimes that took a number of days, which was extremely frustrating when they were used to being able to call and get someone immediately.
The guy in civil construction complained about zoom team player etc being unable yo provide sufficient detail when trying to get multiple folks looking at large scale drawings, models etc, or anything that went over multiple pages.
So a variety of responses, mostly dependent on whether you worked for a living in private industry versus got paid in the public sector.
Mick
Click to expand...

My daughter works for a Commonwealth government department, their policy is that any staff member can apply to work a maximum of 2 days from home, but must complete the appropriate forms.
Another policy is that if anyone in the office tests positive for Covid all close contacts work from home for 7 days.

My daughter hates working from home. She said that it takes longer to get things done, she feels tired while working, finding it difficult to keep her eyes open. Whereas at work there is always interaction with people which makes the day more exciting, it’s easier to discuss projects and issues. At the end of the day she feels more stimulated.
 
An article in The Australian
Melburnians are still choosing to work from home despite Covid restrictions ending, with over 55 per cent in the office for two days or less each week and nearly 70 per cent of CBD businesses not expecting them to return full-time.

The Victorian Chamber of Commerce and Industry (VCCI) recently did a survey of Melbourne CBD-based offices amid continued concerns over the lack of foot traffic and activity in the city.

The results stunningly revealed that 69 per cent of businesses do not expect their employees to return full-time to the office.

It comes as 14 per cent of workers have not returned at all since Covid restrictions were lifted, while 42 per cent are only coming into the office for one or two days a week.

Work-life balance (34 per cent), length of commute (29 per cent) and fears of contracting Covid (15 per cent) were among the main reasons cited for working from home.

Concerningly for businesses, 48 per cent of employers said they saw an increase in productivity when employees work from the office, though the remaining 52 per cent noticed no difference.
Click to expand...
My bolding above.
Mick
 
mullokintyre said:
Concerningly for businesses, 48 per cent of employers said they saw an increase in productivity when employees work from the office, though the remaining 52 per cent noticed no difference.
Click to expand...
This information in itself is very short on detail, is it mostly perception or based on quantifiable metrics and detailed analysis. If metrics, what metrics were used to measure productivity? What types of job roles are showing this drop in productivity, etc. Without such detail it's unclear that such numbers can be considered an accurate representation WFH productivity rather than a general perception.

In the case of my company, when there is a directive to return to office (coming soon) it will likely be 1 day a week or 2 at most. If there is a measurable drop in productivity then employers have means to deal with such a situation.
 
Trader X said:
This information in itself is very short on detail, is it mostly perception or based on quantifiable metrics and detailed analysis. If metrics, what metrics were used to measure productivity? What types of job roles are showing this drop in productivity, etc. Without such detail it's unclear that such numbers can be considered an accurate representation WFH productivity rather than a general perception.

In the case of my company, when there is a directive to return to office (coming soon) it will likely be 1 day a week or 2 at most. If there is a measurable drop in productivity then employers have means to deal with such a situation.
Click to expand...
WFH opportunities
www.businessinsider.com

A 26-year-old on track to make $200,000 from 2 remote jobs secretly squeezed into 40 hours explains how he gets away with it — and his 'only Great Resignation regret'

Fayette Woods works 40 hours a week but gets paid for 60. He thinks more people can follow his lead to combat the rising cost of living.
www.businessinsider.com www.businessinsider.com
I worked from home for fair amount of time while contracting, it is not for everyone and yes you have wankers who do play computer games instead of being wankers in the office.
But the real issue which is not discussed if the BS jobs.
Many of corporate jobs are actually fully useless, useless part of processes, or even full useless processes.
Even if the individuals involved do sctually work hard on these tasks, they do not help the bottom line in any way
So surprise, surprise, even if no one move a finger while 'wfh' the end result is unchanged.
The next step is obviously to move tgese remote jobs in the Philippines before closing them altogether and just have universal income.
But enjoy and squeeze the system as much as you can ..while you can.
 
qldfrog said:
I worked from home for fair amount of time while contracting, it is not for everyone and yes you have wankers who do play computer games instead of being wankers in the office.
But the real issue which is not discussed if the BS jobs.
Many of corporate jobs are actually fully useless, useless part of processes, or even full useless processes.
Even if the individuals involved do sctually work hard on these tasks, they do not help the bottom line in any way
So surprise, surprise, even if no one move a finger while 'wfh' the end result is unchanged.
The next step is obviously to move tgese remote jobs in the Philippines before closing them altogether and just have universal income.
But enjoy and squeeze the system as much as you can ..while you can.
Click to expand...
On the guy doing WFH for 2 employers at the same time, not only is that deceitful but most companies would require you to disclose this information even if the time periods of work did not overlap. He risks being terminated pulling this off.

As to the offshore competition, that has been a reality for some time now. During my short stint with IBM 10yrs ago, they had commenced offshoring all tech roles to India. The tsunami will hit when the immigration floodgates are reopened and 457 visa rorting recommences. This I believe will again tip the power balance heavily in favor of employers and suppress wage growth. There will be less WFH opportunity no doubt but how much of a reduction remains to be seen.
 

In this motivational, inspirational, and emotional video, we will hear from Elon Musk himself, as he talks about going against all odds and proving everyone wrong. This video talks about his early days when he started Tesla and SpaceX, his failures, taking risks, and much more. Musk persevered and beat all the odds despite a lot of people going against him. Musk also talks about the future where he wants humanity to be expanded and to be a spacefaring civilization and to be out there among the stars. Go against the odds and reach your dreams!
 
Last edited:
Twitter has given him what he wants -

Twitter to provide Elon Musk with spam bot data to seal $61 billion deal, reports claim

Twitter is prepared to give in to Elon Musk's latest demand and supply the billionaire with data on "spam bots", after he threatened to walk away from buying the social media business if it refused.

The news of the climb down came via multiple reports, which added that the Tesla chief executive would get a "firehose" of raw data on more than 500 million tweets posted every day.

It is thought the move will push forward Mr Musk's agreed-to US$44 billion (more than $61 billion) acquisition of the platform.

Lawyers involved in the deal would not confirm the data sharing agreement.

Mr Musk made no comment on Twitter, although he has previously been vocal about various aspects of the deal.

Twitter declined to confirm the reports and pointed to a Monday statement in which the company said it is continuing to "cooperatively" share information with Mr Musk.

The billionaire, who struck a legally binding agreement to buy Twitter in April, contends that the deal can't proceed unless the company provides more information about the prevalence of fake accounts on its platform.

He has argued, without presenting evidence, that Twitter has significantly underestimated the number of these "spam bots" — automated accounts that typically promote scams and misinformation — on its service.

AG to investigate 'potential false reporting'
On Monday, Texas Attorney General Ken Paxton also announced an investigation into Twitter for allegedly failing to disclose the extent of its spam bot and fake accounts, saying his office would look into "potential false reporting" of bots on Twitter.

The Washington Post first reported Twitter's plan to provide Mr Musk with full access to the data, citing a person familiar with the matter.

Other reports suggested the billionaire might only receive partial access.

Twitter's reported offer could blunt Mr Musk's attempts to use the spam bot issue to cast doubt on the deal's future.

This week, lawyers for Mr Musk accused the company of refusing to surrender information about the true number of bot accounts on Twitter.

Mike Ringler, the Palo Alto, California, attorney who signed that Monday letter, told AP he was not at liberty to speak about the matter when reached on Wednesday afternoon.

Fake social media accounts have been problematic for years.

Advertisers rely on the number of users provided by social media platforms to determine where they will spend money.

Spam bots are also used to amplify messages and spread disinformation.

The problem of fake accounts is well-known to Twitter and its investors.

The company has disclosed its bot estimates to the US Securities and Exchange Commission for years, while also cautioning that its estimate might be too low.

Twitter CEO Parag Agrawal said Twitter has consistently estimated that fewer than 5 per cent of its accounts are spam.

But Mr Musk has disputed that figure, contending in a May tweet — without evidence — that 20 per cent or more of Twitter's accounts are automated and not run by humans.
Click to expand...
 
Trader X said:
"Tesla CEO Elon Musk said in an email to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers."

"Shares of Tesla dipped 9% on Friday by midmorning after Reuters reported on an earlier email Musk had sent to executives about his plans to cut the company’s workforce and expressing a “super bad feeling” about the economy."

So the order to return to the office 40+ hrs/wk may actually have the ulterior motive of getting staff to resign first and avoid redundancy payments. The fact that a car company wants workers to return to the factory in their cars may be another reason. Work from home does not suit a car company's agenda.

"The co-founder of Australian project management software maker Atlassian Plc, Scott Farquhar, ridiculed the directive in a series of tweets as being "like something out of the 1950s". The US-listed company's "work from anywhere" policy was "key for our continued growth", he said.

"We're setting our sights on growing Atlassian to 25K employees by FY26," Farquhar concluded. "Any Tesla employees interested?" :D

This guy's commentary is spot on...
Click to expand...


 
Actually that commentary by Electric Viking is biased spin in the main, trying to shame MSM for reporting "exactly" what Musk said which he was forced to clarify. Nobody was intentionally duped by the media reporting on Musk's careless communication. This guy is just trying to put lipstick on a pig, cutting staff is not a good news story and trying to spin it into one is biased fanboy misdirection.

"To: Everybody
Subject: Headcount Reduction
Date: Friday, June 3, 2022

Tesla will be reducing salaried headcount by 10% as we have become overstaffed in many areas. Note this does not apply to anyone actually building cars, battery packs or installing solar. Hourly headcount will increase.

Elon"

Elon Musk clarifies Tesla will lay off 3.5% of total workforce as ex-employees sue company​

  • Musk said Tesla will reduce its salaried workforce by 10% in the next three months, while also growing the number of hourly employees.
  • Layoffs will affect around 3.5% of Tesla’s overall workforce, Musk said, adding the actual amount was “not super material.”
  • Two former Tesla employees sued the company Sunday, alleging it violated U.S. federal laws regarding “mass layoffs.”

"On Tuesday Musk said about one third of Tesla employees are salaried, and the 10% cut in that part of the staff would be a "roughly a 3% to 3.5% reduction in total headcount," which he referred to as "not super material."

I'm guessing the thousands of salaried staff that are losing their jobs think it's super material, what a cold, callous statement. Hiring more workers offshore is hardly good news for Fremont based salaried staff either.
 

Similar threads

R
Scale Economies
Replies
3
Views
1K
RickyY
R
J
The official James is going to take the plunge thread
Replies
10
Views
5K
divs4ever
divs4ever
Top