Musk set to become richest man in the world as $1 trillion pay deal is approved
Tesla shareholders on Wednesday overwhelmingly approved CEO Elon Musk’s audacious $1 trillion compensation package, granting him 25% voting control...
Hello Capitalists,
Here is everything you should be following today:
Musk approved for mind blowing pay deal
Trump AI chief smacks down talk of bailouts for AI
Palantir CEO slams colleges over “indoctrination”
Leak shows that 10% of Meta ads in 2024 were scams
Dave Portnoy unloads on Mamdani, threatens to leave the Big Apple
Ford mulls killing off electric pickup truck
Today’s markets + assets:
🔴 DOW: 46671.88 (⬇️ 0.52%)
🔴 S&P: 666.31 (⬇️ 0.83%)
🔴 NASDAQ: 22727.63 (⬇️ 1.40%)
⚠️✅CBOE VIX Volatility Index: 20.91 (⬆️ 7.23%)
✅ Gold: $4014.00 (⬆️ 0.57%)
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✅ Bitcoin: $102,571 (⬆️ 1.61%)
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Elon approved for $1Trillion Pay Package
Tesla shareholders on Wednesday overwhelmingly approved CEO Elon Musk’s audacious $1 trillion compensation package, granting him 25% voting control and shares tied to sky-high milestones like 20 million vehicle deliveries and 1 million robotaxis, defying proxy advisors’ warnings.
Milestones Fuel Mega-Rewards: The package unlocks 12 share tranches for hitting targets including an $8.5 trillion market cap, $400 billion in annual profits, and 10 million Full Self-Driving subscriptions over a decade.
xAI Investment Gains Traction: Separate proposal for Tesla to fund Musk’s AI rival to OpenAI securee majority support, despite abstentions.
Court Ruling Sparks Overhaul: The approval revives Musk’s 2018 pay plan that was invalidated by Delaware judges. Musk’s new structure boosts his ownership from 13% to 25% of the company.
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Trump’s AI Czar slams the door on “AI Bailout” chatter after OpenAI blunder
In a sharp rebuke to bailout buzz, President Trump’s AI czar David Sacks declared Thursday no federal rescue for struggling artificial intelligence firms, dismissing OpenAI’s CFO Sarah Friar’s plea for a government “backstop” amid soaring infrastructure costs.
Sacks Rejects AI Intervention: Emphasizing U.S. market resilience, Trump’s crypto-AI advisor argues five major frontier AI companies ensure no single failure threatens innovation, avoiding “ridiculous” taxpayer-funded rescues.
Friar Clarifies Backstop Remark: OpenAI’s finance chief, after suggesting government support at a conference, posted on LinkedIn that her words were misleading, stressing private-sector leadership in building tech infrastructure.
White House Echoes Free-Market Stance: Sacks’ position signals Trump’s administration prioritizing competition over subsidies.
Debate Fuels Industry Tensions: The “bailout” exchange highlights growing rift between AI giants’ infrastructure demands and federal aversion to bailouts, potentially reshaping public-private tech collaborations.
Palantir CEO slams colleges as he hires high school grads
Palantir Technologies is upending tech hiring norms by recruiting 22 high school graduates into a paid internship program, bypassing college entirely to combat “indoctrination” and crippling student debt, CEO Alex Karp announced Thursday.
Merit-Driven Selection Process: Palantir’s Meritocracy Fellowship drew over 500 applicants, selecting just 22 based on Ivy League-caliber test scores for a rigorous four-month program blending U.S. history lessons with hands-on technical work.
Karp’s Scathing College Critique: CEO Alex Karp lambasted universities for intellectual flaws and workforce unreadiness, declaring all prior education “intellectually incorrect” and Palantir experience the ultimate tech credential.
Path to Full-Time Success: Top fellowship performers earn interviews for salaried roles at Palantir, where Karp insists pedigree fades—once hired, “you’re a Palantirian,” erasing divides from elite or modest schools.
Industry-Wide Hiring Shift: The initiative echoes skepticism from leaders like Meta’s Zuckerberg, signaling a broader tech pivot to skills-based recruitment over degrees amid rising doubts about higher education’s value.
Meta leak reveals that 10% of its ads in 2024 were scam ads
Internal documents reveal Meta projected a staggering 10% of its 2024 ad revenue—about $16 billion—from fraudulent promotions for scams like bogus investments and illegal casinos, raising alarms over the tech giant’s tolerance for digital deceit amid aggressive enforcement claims.
Internal Projections Shock Revenue: Leaked Meta files estimate $16 billion was earned from 2024 scam ads, spanning deceptive e-commerce schemes and banned medical products on Facebook and Instagram.
Daily Deception Scale Vast: Facebook displayed roughly 15 billion “higher risk” fraudulent ads per day, and fueling $7 billion in annual sales from clearly deceptive promotions.
Business Risk Looms Large: Documents highlight Meta’s fears that abruptly curbing scam ads could derail financial forecasts, despite pledges to slash their prevalence.
Spokesperson Fires Back: Meta dismisses 10% figure as “overly-inclusive” rough guess, insisting leaked docs distort its robust anti-fraud efforts and policy compliance reviews.
Portnoy explodes at “Communist” who “hates America” threatens to leave NYC
Barstool Sports founder Dave Portnoy threatened to shutter his company’s Manhattan office and relocate to New Jersey after democratic socialist Zohran Mamdani’s stunning mayoral victory Tuesday, blasting the Uganda-born assemblyman as a jobless “Communist” who “hates America” and vows rent freezes that could cripple business.
Portnoy’s Pre-Election Rant: During a YouTube livestream, Portnoy vented frustration over Mamdani’s potential win, calling him a “thirty-something-year-old Communist” unfit to lead due to zero real-world job experience.
Relocation Dilemma Exposed: Weighing a move to Hoboken or Jersey City, Portnoy agonized over uprooting employees’ lives in a “Catch-22,” yet instructed finance teams to scout properties as a “principled stand” against the new regime.
Mamdani’s Radical Platform: The victorious candidate pledges city-run grocery stores, expanded public housing, and rent freezes—measures critics warn will deter investment and spark an exodus of employers from the Big Apple.
Post-Victory Defiance Echoes: On X, Portnoy shrugged off the election results with relief, noting he no longer resides in NYC.
The end of the road for Ford’s electric pickup truck?
Ford Motor Co. is weighing a dramatic retreat from electric vehicles, with reports Thursday revealing internal talks to permanently halt production of its flagship F-150 Lightning pickup after years of billions in losses and slumping sales amid fierce competition and regulatory headwinds.
Production Pause Persists: Ford’s F-150 Lightning assembly remains idled due to a supplier fire at Novelis, and the continued prioritization of gas and hybrid F-150 output to aid Ford’s market recovery.
Sales Stagnation Exposed: Year-to-date U.S. sales of the Lightning hover at 24,577 units, barely matching last year, with under 100,000 sold in total since the 2022 launch despite 200,000 initial reservations.
Losses Mount Relentlessly: Ford’s EV division has been bleeding billions annually, fueling a strategic pivot away from all-electric trucks as rivals like Stellantis scrap similar plans.
Hybrids Gain Priority: Executives have emphasized gas and hybrid F-150 tucks as their primary focus, hinting at a flexible Lightning restart but signaling broader EV skepticism under Trump-era policy shifts.
Musk deserves everything he got by being a visionary and an economic genious —- wish he could help our corrupted Gumnit reach his success with what he began by uncovering waste and corruption —
Excellent!!!