[H]ardOCP: Musk Tells Newspaper He’s Cracking Under Stress of Tesla Job

Elon Musk

In other news, a report from the University of California, Irvine, may settle the dispute about whether electric cars or fuel cells are cleaner. The slump took losses in the last eight trading sessions to almost 20pc or £10bn.

Even if his Tesla was on autopilot mode, last I checked the driver is still supposed to be alert and probably not tweeting things that will quickly become the subject of a federal investigation.

He told investors: 'Tesla feels like it is entering the final stage of its life'. Tesla has fallen 16.1 percent since Musk tweeted last week that he was considering taking the company private.

He acknowledged that no one had reviewed the tweet prior to publishing it and said that he was not on drugs when he wrote it.

"I definitely did not get calls from irate directors", he said.

Musk also denied having smoked weed before sending the tweet, but did mention he sometimes takes Ambien to help him sleep. There's a reason for the word "stoned".

Some of Mr Musk's stress comes from critical short-sellers who are betting against the company's success. Referring to the short-sellers Musk stated: "They're not dumb guys, but they're not supersmart. They're OK They're smartish", he added.

As he explained in the interview, Musk was en route to an airport when he announced on Twitter that he was considering making Tesla a private company once more. I've had friends come by who are really concerned".

The New York Times report said efforts are underway to find a No. 2 executive to help take some of the pressure off Musk, people briefed on the search said.

Asked if exhaustion was physically affecting him, he told The Times: "It's not been great, actually. They can have the reins right now", stated Musk. He told the Times that he has been working 120-hour weeks recently as Tesla races to meet its production targets. He is human, however, and it is becoming increasingly apparent he is overstretched'.

"There have been many false and irresponsible rumors in the press about the discussions of the Tesla Board", Tesla said in a statement. He tweeted: 'Makes no sense to let Elon burn out'.

Lawyers have warned that his tweet may have broken 14e-8 of the Securities Exchange Act of 1934, which prohibits publicly traded companies from announcing plans to buy or sell securities if executives don't intend to complete, don't have the means to complete, or are trying to manipulate the stock price.

The Wall Street Journal reported that government regulators have subpoenaed Tesla as they dig deeper into his disclosure of the potential buyout. He stunned markets by revealing he was considering taking Tesla private for $420 per share. In it, Musk said he had "funding secured" to take Tesla private.

"Part of the issue from my perspective is focus", said Roger Kay, an analyst and consultant with Endpoint Technologies Associates.

The delays in the ramp-up were attributed to a range of problems with production capacity and suppliers. He has since apologized to the analysts from Bernstein and RBC Capital Markets, but defended his choice to take questions from retail investors instead.

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