- Elon Musk claimed that Tesla is “pedal for the metal” regardless of whether there is a recession.
- Tesla CEO John Tesla stated that Tesla has no plans for slowing down ambitious production targets.
- Jeff Bezos said Tuesday that companies should “batten down all the hatches” in an economic downturn.
Two of the richest men on the planet seem to have different opinions about weathering the next few weeks and possible recession.
Amazon founder Jeff Bezos was interviewed earlier in the week BewareBusinesses should be cautious and prepared for an economic downturn.
Bezos said, “The economic probabilities tell you to put down the hatches.” TweetedOn Tuesday. The second-richest manThe comment was made by people around the world in response to David Solomon, CEO of Goldman Sachs, saying that companies should be prepared for the US entering a recession.
—Jeff Bezos (@JeffBezos) October 18, 2022
Bezos warns tech companies to beware A slew layoffs were announcedDespite slowing economic growth, rising labor costs. Bezos may no longer be Amazon’s CEO, but his successor seems to share the same concerns. Andy Jassy was appointed Amazon CEO last month. The company has stopped hiring. A report by a reveals that the retail giant had also dropped plans to build dozens of warehouses in America. Bloomberg report
Elon Musk, Tesla CEO, expressed a completely different opinion on Wednesday. The electric-car maker’s conference on Wednesday, Elon Musk expressed a different sentiment. Earnings callWhen an analyst asked Musk how Tesla would fare in a possible recession, Musk replied that Tesla had no plans to slow down.
Musk said, “To be blunt, we’re very pedal-to-the-metal come rain or shine.” “We are not reducing production in any meaningful fashion, recession or not.”
Musk stated that he believes Tesla is “in a good spot” in terms of future economic conditions.
“I wouldn’t say its recession-proof, but it’s certainly recession-resilient,” the billionaire said, attributing Tesla’s stability to a Switch from gasoline cars to electrical ones.
Musk has been a successful entrepreneur in the past. ImportantFederal Reserve Board, which has raised interest rates in an effort to combat inflation.
Musk stated that the Fed’s decisions are clear if one is looking at the rearview mirror. But not if one is looking out the windshield. Musk also noted that Tesla has experienced more deflation in the purchase of commodities.
Musk made a similar statement earlier in the year, despite his latest statements. BewareHe said the US is entering a recession but that they are not always a bad thing. The CEO also stated that the US is likely to enter a recession. He planned to reduce 10% of Tesla’s salaried workers and increase the workforce for hourly workers at the factories.
Musk’s belief in Tesla has been “pedal-to-the-metal” since childhood. Musk has repeatedly promoted Tesla. ambitious targetsTesla is planning to increase its production by about 50% annually. During the earnings call, the billionaire said Tesla is on track to hit the goal, though it would have to produce over 475,000 vehicles in the next quarter to hit the target — about 30% more than it ProducedIn the third quarter.
It isn’t surprising that Musk and Bezos would have divergent opinions on how to run companies. They’ve both come. head-to-headThere have been many past issues, ranging from building reusable missiles to trying for NASA contracts.
Bezos’ advice is most popular Echo appearsThat of other top executives. Jamie Dimon, CEO of JPMorgan Chase, has been A warning sign of a recessionDespite the fact that the executive is The bank does not intend to reduce its workforce. In July, Facebook founder Mark Zuckerberg According to some, in an internal meeting that the nation could be “facing one of the worst recessions in recent history.”
