Tesla plans layoffs. Are Musk’s Twitter antics to blame?

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Not everyone buys Musk’s arguments. Fingers are pointed in his direction right now, and Tesla investors no less. Since Musk revealed his plans to lead the show on Twitter, concerns have been raised that the social media platform will hijack him from his duties at Tesla. At the time, Musk promised that wouldn’t happen and assured investors that Tesla would always be his top priority.

Ross Gerber, head of Gerber Kawasaki Wealth Management, which is also an investor in Tesla, told Bloomberg that Musk should hire someone with the right social media experience to manage Twitter. “I think he may have just gotten on top of his skis in an area that he’s just not adept at handling the intricacies of,” he said. In a tweet, Gerber mentioned that “Tesla’s stock price now reflects the value of not having a CEO.” Tesla’s third largest shareholder, Leo Koguan, tweeted last week that “Elon has dropped out of Tesla and Tesla has no active CEO.”

Another investor, Joseph Cirincione, wrote in The Daily Beast that “Musk’s erratic behavior on Twitter raises serious questions about his mental stability and management ability.” He tweeted separately that he wanted Musk off Twitter. Musk, on the other hand, recently conducted a poll asking users if he should step down as CEO of Twitter. A majority of those polled voted to leave Musk, but the billionaire says he will quit when he finds someone foolish enough to take over.

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