I rarely agree with Jim Cramer, but we are both in support of Musk’s comments during Tesla’s earnings call yesterday. Here is a direct video link.
Tesla earnings call was the best I’ve heard in a long time, says Jim Cramer from CNBC.
Billionnarie CEOs that sleep on their factory floor to personally oversee production are an extremely rare species. Musk is not doing this for the money, he’s already wealthy. He’s giving everything he has to revolutionize transportation, energy capture and battery storage while making the safest, cleanest vehicles ever created, which the status quo said were impossible, and now all other car companies are chasing his lead.
In an era obsessed with destructive financial gimmicks, navel-gazing social media and health-harming consumer products, why more American commentators and analysts are not supportive of this exceptional leader and the remarkable, world-changing products his companies are producing, is bizarre indeed.
But as Joseph Schumpeter said decades ago when talking about creative destruction:
To undertake such new things is difficult and constitutes a distinct economic function, first because they lie outside the routine tasks which everyone understands and, secondly, because the environment resists in many ways that will vary, according to social conditions, from simple refusal either to finance or buy a new thing, to physical attack on the man who tries to produce it.
For more see: If you’re not pissing someone off, you’re probably not innovating.
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