The beef between President Biden and Tesla CEO Elon Musk looks like it's as strong as ever.
It started last week when Elon Musk made negative remarks about the economy and noted that Tesla was going to have to be making layoffs. Musk told executives the electric carmaker needed to cut staff by 10% because he has a "super bad feeling" about where the economy was headed.
An email, titled "pause all hiring worldwide," was sent to executives on Thursday and was the latest sign of mounting macroeconomic headwinds as lower-than-expected US new car sales in May could be a harbinger of a recession. Tesla, which has EV factories worldwide, including ones in the US, Berlin, and China, employs about 100k staff, so reducing 10% of jobs could equate to 10k people.
When speaking about Ford last week, President Biden made an unfavorable comparison regarding Tesla and, when asked further about Musk comments about the economy, answered that he wished Elon Musk "lots of luck" on his "trip to the moon".
Recall, back in May, we noted when Musk delivered a scathing criticism of Biden and the President's handling of inflation. Musk told a virtual conference ;last month that he believes the government has printed too much money in recent years.
“I mean, the obvious reason for inflation is that the government printed a zillion amount of more money than it had, obviously,” Musk said, likely referring to COVID-19 relief stimulus packages worth trillions of dollars that were passed in recent years.
If governments could merely “issue massive amounts of money and deficits didn’t matter, then, well, why don’t we just make the deficit 100 times bigger,” Musk asked. “The answer is, you can’t because it will basically turn the dollar into something that is worthless.”
During the same conference, Musk said: “The real president is whoever controls the teleprompter" and "The path to power is the path to the teleprompter.”
“The Trump administration, leaving Trump aside, there were a lot of people in the administration who were effective at getting things done,” he remarked.