On Wednesday, Ilon Mask reported to investors and reporters on Tesla's quarterly earnings. Apparently, the CEO of the company is learning from past mistakes and is doing everything possible so that they do not repeat. In the second quarter of 2017, Tesla lost $ 717 million, which is a lot of money. But she has big reserves – about 2.2 billion dollars, so she does not need to borrow money. According to Mask, the company's goal is to reach profit by the end of 2018.
Although financial reports did not greatly please people, Tesla's shares soared 12 percent after the dialogue. What is the reason? Most likely, the Mask himself.
How does Mask communicate with investors?
In the last appeal, Mask refused to answer the “dry” and “boring” questions – you are unlikely to expect such behavior from the CEO of a multibillion-dollar company.
Since then he has become more jerky, even called the British cave diver, who participated in saving children from the cave in Thailand, a “pedophile”. Historically, he made big promises that he could not fulfill. Investors do not like it for this.
New Ilon Mask became more sociable with investors
On Wednesday, when Mask was on a wire with investors, he was completely different.
First, he apologized for being ” impolite “during the previous call. Secondly, he managed not to make a single bold statement during the whole conversation. He even went back to one of his predictions and told Tim Higgins that it is likely that Tesla will produce 750,000 cars in 2020, not 1 million.
If the growth in Tesla's shares can serve as an indicator, investors like the new calm, balanced and collected approach. Mask. The question remains whether Ilon's “new” will last long enough for Tesla to become profitable. After all, investors can find another CEO.