Why is Elon Musk still CEO of Tesla?
The tech billionaire and his EV company suffer, Apple castigates itself over Siri failures and a Meta tell-all book evokes a strong reaction
Hello, and welcome to TechScape. In this week’s edition: Elon Musk suffers the slings and arrows of outrageous fortune, Apple beats itself up over Siri, and Meta goes after one of its own over a tell-all book.
The past 10 days have marked several of the most significant setbacks for Musk in months. Tesla, arguably his marquee company, continued to fall in value as investors worried about the threat of trade war and possible recession – as well as declining profits. Escalating protests against the company over the billionaire’s role in the government also grew in number and intensity across the US, coupled with rising cases of vandalism and social stigma against his cars. SpaceX has also struggled, with one of its rockets dramatically exploding in midflight last week and then an announcement that it was delaying a rescue mission to retrieve “stranded” astronauts. The company tried again two days later.
Adding to Musk’s headaches, his social media platform, X, experienced widespread outages throughout the day on Monday. During a Fox Business interview, he claimed that it was the result of a “massive cyberattack” that the company had traced to the area of Ukraine.
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