Everyone is fixating on whether Tesla can succeed—and ignoring how that success could drive us closer to a future of jobless automation
From my cover story in the August 17, 2018, issue of Newsweek
Elon Musk has been making a habit of shocking. Tuesday afternoon he tweeted that he was ready to take publicly held Tesla private, and trading had to be halted as everyone from investors to the SEC tried to figure out if the Tweet was a weed joke (given the 420 reference), a potentially illegal effort to manipulate stock price, or a genuine financial disclosure of unheard-of magnitude and form.
That was just the latest Musk surprise. During a conference call with Wall Street investment analysts in May he refused to answer basic questions about Tesla’s faltering financial prospects. “Boring, bonehead questions are not cool,” he said. A few months before, he treated his 22 million Twitter followers to harassing rants against reporters who published critical pieces about Tesla.
But if you’re focusing on Musk’s bad manners, you’re missing the point. His plan to transform the car industry is picking up speed. Along the way, it could put tens of millions of people out of work, dismantling what has been a foundation of the nation’s social and economic life for a century. And it’s happening in the service of plying the wealthy with cooler cars. Read more