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RT @yomnashousha: Couldn't resist joining in on all of the Cloudflare performance improvement fun Here are 3x faster build starts :) Side…
vp developers & ai @cloudflare ✨ and how does that error make you feel?
If your General Counsel is the most popular person at your company, that is a red flag.
GC of @StarkWareLtd. Ex-DeFi GC, CeFi CLO, & @kslaw investigations partner. Working mom of littles. Tweets are my own personal views and are not legal advice.
If your General Counsel is the most popular person at your company, that is a red flag.
GC of @StarkWareLtd. Ex-DeFi GC, CeFi CLO, & @kslaw investigations partner. Working mom of littles. Tweets are my own personal views and are not legal advice.
If your General Counsel is the most popular person at your company, that is a red flag.
GC of @StarkWareLtd. Ex-DeFi GC, CeFi CLO, & @kslaw investigations partner. Working mom of littles. Tweets are my own personal views and are not legal advice.
Powerful comeback
We're in a race. It's not USA vs China but humans and AGIs vs ape power centralization. @deepseek_ai stan #1, 2023–Deep Time «C’est la guerre.» ®1
My firm, @atreidesmgmt, will be voting in favor of Elon Musk’s performance-based compensation package. And I would prefer that *every* company I invest in have a comparable plan. I believe shareholders should generally support thoughtfully structured performance-based CEO compensation packages because they incentivize CEOs to create transformational growth and value. The basic logic of these plans is the CEO gets 10% of the incremental value creation if they 10x the stock with a 2x hurdle. So shareholders get a 900% stock increase and the CEO gets an incremental 10%. The first Tesla plan incented Elon to >10x the value of Tesla. He achieved all of the milestones and may never be paid for this. The Axon plan incented Rick Smith to >5x the value of Axon and he did. And when milestones aren’t met (such as Farfetch), then the CEOs don’t receive the payouts. The new Tesla plan is arguably better than the first as it also includes financial and technological milestones in addition to market cap-based incentives. Tesla was founded to fight climate change and decarbonize the world. They have succeeded: because of Tesla the world is now on a glide path to significantly lower per capita emissions as EVs of all types replace combustion engines. The world is going to run on sunlight. And while Optimus has the potential to be a great product that will bring about sustainable abundance, Elon absolutely wants to make sure that it is also a safe product. We have all seen "Terminator" and ensuring the safety of Optimus is why he needs a greater voting stake in Tesla. Elon's involvement is integral to maintaining Tesla’s current course and trajectory. Without proper alignment and incentivization, I think it is possible that he will focus more on his other goals: (i) helping humanity become a multiplanetary civilization, (ii) creating a BCI to improve the lives of paralyzed and soon blind humans that also paves the way for humans to continue to add value to the world post ASI, (iii) helping to create a multipolar AI world that is safer for humans, and (iv) ensuring that at least one of these AIs is dedicated to the truth. All of these are worthy goals, but so is sustainable abundance here on earth and so is having at least one public company that benefits from his efforts and is accessible to all Americans. If this vote fails, Robyn Denholm, the chair of Tesla’s board, noted that Elon might leave. Elon is mission critical for Optimus and if he leaves, it seems possible that Optimus might be made by a company other than Tesla – whether xAI or SpaceX or some JV - with Tesla receiving some sort of revenue share in return for their contributions to date in the spirit of fairness that Elon has always followed with his investors. I believe it is highly likely that Tesla’s stock would decline significantly should Elon leave and even more should the Optimus team leave with him. If this compensation package is approved, I will be rooting for him as a shareholder as he works super hard to achieve the value-creating milestones that would benefit both him and shareholders. I do not know how other shareholders feel, but I would certainly like another 10x in Tesla and simply do not believe this is possible without Elon. Every vote matters because from my perspective many proxy voting firms are no longer primarily focused on shareholder value creation and the corporate governance departments at many investment firms feel bound to follow their decisions. The silliness of their concerns about dilution are self-evident in that the dilution would only occur after substantial share price appreciation for Tesla. I want my 10x. I should note that @atreidesmgmt is an investor in many of Elon Musk’s companies. @atreidesmgmt invests in these companies because I regard Elon as an exceptional founder who has repeatedly created significant value in different industries.
Managing Partner & CIO, @atreidesmgmt. Husband, @l3eckyy. No investment advice, views my own. https://t.co/pFe9KmNu9U