Elon Musk’s brand suffers after the Twitter chaos, says venture capitalist Danny Moses:- Former hedge fund manager warns Twitter CEO – who also runs Tesla and SpaceX – could be around in 2023
Elon Musk’s chaotic management of social media platform Twitter is hurting his brand, and investors should stay away from shares of his electric vehicle maker Tesla, former hedge fund manager Danny Moses of The Big Short fame said this week.
Moses’ comments came in an interview with CNBC late Thursday, the day Twitter at least temporarily suspended several prominent reporters who had reported on Musk and the operations of the platform, which he founded in October for $ Bought for 44 billion.
Musk sought to justify the late action by saying that Twitter was forbidden from sharing details on his real-time location, and he accused the reporters who published his whereabouts of “killing coordinates”. . was shared.
But the suspension of the accounts sparked outrage on both sides of the Atlantic, with critics insisting Musk was curbing press freedom despite presenting himself as an advocate of free speech.
Moses said Thursday that he had bet against the performance of Tesla’s stock, adding that its value lies in Musk’s personal brand, which has been “hit a little bit.”
“It’s still a $500 billion company, and I don’t think the fundamentals justify that valuation,” said the founder of investment fund Moses Ventures. “He’s running three … pretty big companies at this point, so clearly there’s a lot he has to deal with.
“We’re getting frustrated here because their attention span is being compromised,” Moses warned, adding that Tesla could be around 2023, when some predict a possible national recession, among other economic pressures.
Tesla stock was down 60% in January after anemic earnings and populist disapproval of Musk, who fired thousands of Twitter employees after taking over the platform and then losing their jobs for working “long hours.” Told to be ready. high intensity”.
Musk – who also runs SpaceX – has also worried investors by recently selling $3.6bn worth of Tesla shares.
The divestment comes as he lost the title of world’s richest man to Louis Vuitton and France’s Dom Pérignon magnate Bernard Arnault, with the sale of Musk’s stock in his electric carmaker to more than $20bn.
This prompted Tesla’s third-largest shareholder, Indonesian billionaire Koguan Leo, to ask Musk to step down as the chief executive officer of the carmaker, according to Observer.com.
The contempt many hold in public for Musk became apparent last week when a crowd in San Francisco booed him lustily after he was introduced on stage at a show hosted by comedian Dave Chappelle.
Moses is perhaps best known as the former lead trader at Frontpoint Partners, run by Steve Eisman, who was portrayed by actor Steve Carell in the film The Big Short.
Both the film and the book of the same name by Michael Lewis took a liking to some investors. Moses foresaw the crash of the housing bubble in the mid-2000s and took advantage of it.
In addition to setting up his own investment fund, Moses has also been an advisor to Merida Capital Partners, a cannabis investment group in New York.
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