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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)

submitted 1 day ago* (last edited 1 day ago) by babysandpiper@sopuli.xyz to c/economics@lemmy.world

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KEY POINTS

Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[–] burgerpocalyse@lemmy.world 6 points 1 day ago

the problem was that the things he said he was good at are highly specialized and there was not much media attention when actual experts said he had zero idea what he was doing. it took him pretending to know how to do stuff most people can instantly recognize when done poorly, like video games or speaking in public