Part 7/15:
Tesla's board underscores the importance of Musk’s leadership, stating in a shareholder letter that "retaining and incentivizing Elon is fundamental" to reaching these bold objectives. They argue that no other individual is equipped to lead Tesla through this transformative phase into a future dominated by AI and robotics.
Owensman reflects that this deep reliance on Elon Musk implies a sort of "cult of personality," where the company's future hinges almost exclusively on his vision and execution. While some analysts believe it's necessary to motivate Musk, others worry that such concentration of power could hamper innovation or lead to overextension.