Tag: Elon Musk

BusinessStartups

X’s Ad Chief Exits as Musk’s Executive Exodus Continues

X’s global head of revenue operations and advertising innovation has left after less than a year, marking another high-profile departure from Elon Musk’s executive team. The exit comes as sources indicate growing frustration with Musk’s unilateral decision-making and abrupt strategy changes that have complicated advertising operations at the social media platform.

Another Senior Leader Departs

John Nitti has exited his role as X’s advertising chief after just ten months on the job, according to Financial Times reports. His departure adds to what appears to be a growing pattern of executive turnover under Elon Musk‘s leadership, raising questions about stability within the company’s upper ranks.

by Gabriel Novak
BusinessStartups

Apple Weighs Starlink Partnership as Satellite Strategy Evolves, Reports Suggest

Apple is reportedly considering a strategic shift from Globalstar to SpaceX’s Starlink for iPhone satellite services. Sources indicate new technical capabilities and market dynamics could drive this potential partnership despite historical tensions between the companies.

Potential Shift in Apple’s Satellite Strategy

Apple may be preparing to partner with Elon Musk’s Starlink service for future iPhone satellite connectivity, according to recent reports from The Information. After years of relying on satellite provider Globalstar, analysts suggest Apple’s ambitions for expanded satellite features might require collaboration with SpaceX’s growing constellation. The technology giant has reportedly been evaluating options as its current satellite partner faces uncertainties and Starlink’s technical capabilities expand.

by Aaron Blake
BusinessManufacturing

Tesla Q3 Profits Slump Despite Revenue Growth as Costs Mount

Tesla reported a significant 37% drop in net income despite achieving its first revenue increase in three quarters. The electric vehicle maker faced pressure from lower vehicle prices and rising operational expenses linked to artificial intelligence projects.

Tesla’s Profitability Challenge

Tesla faced a challenging third quarter as increased costs significantly outweighed revenue growth, according to reports from CNBC’s Daily Open newsletter. Despite achieving a 12% year-over-year revenue increase—marking the company’s first revenue growth in three quarters—net income reportedly plunged 37% from the same period last year.

by Gabriel Novak
BusinessEnergy

Tesla Q3 Profits Decline Amid Record Revenue and Tax Credit Rush

Tesla’s third-quarter financial results reveal a significant profit decline of 37% despite achieving record revenue of $28 billion. The electric vehicle maker faced increased costs from tariffs and research investments while benefiting from a last-minute surge in buyers seeking expiring tax credits.

Financial Performance Overview

Tesla has reported a notable divergence in its third-quarter financial results, with profits declining significantly despite reaching record revenue levels, according to the company’s latest earnings report. The electric vehicle manufacturer saw revenue climb to $28 billion for the three months ending September, representing a 12% increase compared to the same period last year and setting a new quarterly record for the company.

by Gabriel Novak
BusinessInnovation

Musk Battles “Corporate Terrorists” Over Historic $1 Trillion Compensation Vote

Tesla CEO Elon Musk has labeled prominent proxy advisors “corporate terrorists” as he campaigns for a $1 trillion compensation package. The billionaire claims he needs increased voting control to safely develop Tesla’s Optimus robots and autonomous vehicle technology.

Musk’s Trillion-Dollar Power Play

Elon Musk could become the world’s first trillionaire if Tesla investors approve an unprecedented $1 trillion compensation package on November 6, according to recent earnings call discussions. However, the Tesla CEO insists the massive pay package isn’t about wealth accumulation but rather about securing sufficient voting control to guide the company’s artificial intelligence and robotics development.

by Aaron Blake
Business AcquisitionGovernment Operations

Pentagon Shakes Up Defense Procurement, Embraces Startup Culture to Challenge Industry Giants

The US Army is preparing to fundamentally transform its acquisition system to favor nimble startups over established defense contractors. Army Secretary Dan Driscoll vows to disrupt a system that has “lined the primes’ pockets for so long” with reforms expected within weeks.

Defense Procurement Faces Radical Overhaul

The US Army is preparing to fundamentally transform its weapons acquisition system, with Secretary Dan Driscoll announcing plans to favor agile startups over traditional defense primes in what analysts suggest could be the most significant procurement reform in decades. According to reports, the military will unveil changes to equipment purchasing processes “in just a matter of weeks” as it seeks to accelerate innovation and reduce dependence on major contractors.

by Aaron Blake