Tesla CEO Wrong About Model S Timeline? $1,000,000 Says Yes

thecarchik writes with the snarky-sounding claim that Elon Musk, CEO of electric-car startup Tesla Motors, sometimes says "things that later prove not to be quite true." thecarchik continues: In that, he's like many entrepreneurs, who spend a portion of their time persuading the unconvinced and painting pictures of the rosy future, despite inconvenient facts that may contradict that vision of the future. And in the case of the 2012 Tesla Model S all-electric sports sedan, which Tesla says it will launch before the end of next year, skeptics abound. Pulitzer Prize wining Journalist Dan Neil said the schedule promised by Musk was 'an audacious timeline that makes many in the car industry roll their eyes.' And, he added, 'Even people inside Tesla are leery.' The implication was clear: Neil didn't believe Tesla would be able to deliver on Musk's promises. A week later, Musk e-mailed Neil and told him in no uncertain terms that he was wrong. After several lively rounds of e-mail, he challenged Musk to a $1 million bet on the outcome based on the Tesla Model S hitting 4 targets. If the Tesla Model S misses any of the targets, Neil wins the bet." I'd like to see many more media statements backed by explicit wagers, and not just the indirect gamble of the stock market.

Re:How it should work

[whoever57]

Today's CEO get paid multi-million dollar bonuses win, lose or draw. Someone has to lose, and right now that is the rest of us. Every CEO should be given an agreed goal, and their bonus works both ways

You are probably (certainly?) right the case of most CEOs. However, Elon Musk has invested a lot of his own money in Tesla and if it fails, he stands to lose that investment -- far, far more than he has likely received from Tesla in his position as CEO.

Re:Neil is a pussy

[jtownatpunk.net]

I'm too lazy to do the research but $1000 is probably a greater percentage of the reporter's net worth than the million is a percentage of Musk's net worth. (Yeah, that's horrible grammar but I'm too lazy to fix it.)

Re:Disgusting.

[JordanL]

How dare they make a bet to donate to a charitable organization that brings health care to the poor and underprivileged all around the world! The rich bastards!

Incorrect title!

[Anonymous Coward]

Read the article! It's not a symmetrical bet. $1,000 says yes, $1,000,000 says NO!

Re:How it should work

[GauteL]

This sounds to me a rather simple idea. Corporation CEOs are rich people. And as a condition for taking up their position, they should be required to make a substantial investment in the company. Nobody should trust a Fortune 500 / FTSE 100 company to a CEO who isn't willing to bet some of his/her own money on their own skill as a CEO. And they should be required to keep this investment until at least 2-3 years after they step down.

This way they will win or lose depending on how the company performs over time, not last quarter.

$1,000,000 Says Yes?

[feepness]

That is completely incorrect. $1,000 says yes.

If the wager is accepted $1,000,000 would be saying NO, he is NOT wrong.