Billionaire and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk has said that he hasn't been to Washington, D.C. since May, calling his time with the Trump administration a "side quest."
The Government Is Unfixable, Says Elon Musk
Appearing at the ‘All In Summit' on Tuesday, where he gave a comprehensive list of updates on his business ventures, Musk was asked about any lessons he learned from his time with the Trump administration.
"The government is basically unfixable," Musk said in his response, adding that he "applauds" the White House Crypto and AI Czar David Sacks and his "noble efforts" with the government.
"It's good to have talented people in the administration, but at the end of the day, if you look at our national debt, which is insanely high," Musk said, adding that the interest payments exceeded the U.S. Department of War's budget. "If AI and robots don't solve our national debt, we're toast," he said.
Elon Musk's $1 Trillion Pay Package, White House Snub
The comments could signal a renewed commitment from Musk to his various business ventures following the Tesla board’s unveiling of an all-new CEO compensation package, which could make Musk become the world's first trillionaire.
Musk was also reportedly snubbed from the White House Rose Garden event hosted by President Donald Trump as he invited several prominent Silicon Valley CEOs, including Meta Platforms Inc.'s (NASDAQ:META) Mark Zuckerberg, OpenAI founder Sam Altman and Microsoft Corp's (NASDAQ:MSFT) founder Bill Gates, among others.
Tesla Sales Dwindle, Gary Black Questions Fourth Quarter Plans
Meanwhile, Tesla sales have been posting lackluster figures in multiple markets, with the latest data suggesting that the company's market share in the U.S. fell below 40% for the first time in over eight years since October 2017. It currently holds over 38% of the U.S. EV sector.
On the other hand, Future Fund LLC's managing director, Gary Black, questioned the EV giant's future strategies in the fourth quarter, raising questions about a possible affordable model in the lineup in Q4.
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