The cult of the visionary puts people power to test.

Mamdani offered a message of hope to the New York masses struggling with affordability concerns. (This, by the way, was also the affordable platform on which Trump successfully campaigned in 2024.)

While elite investment bankers who head billion-dollar corporations at the epicenter of financial power are spending millions supporting Mamdani’s enemies, it’s understandable that the masses are buying it.

But once the joyful tears shed during Mamdani’s stirring victory speech have dried, the fulfillment of his laudable campaign promises will be a test. So New Yorkers may have gotten a reality check.

Meanwhile, Musk’s campaign full of promises can also be described as legal extortion.

Of course, this is about the potential positive financial rewards Tesla shareholders will receive if they achieve their lofty financial goals. However, this brings with it an ominous warning about what Musk will/could do if he loses shareholder votes. Leave the company.

Tesla’s female board chairs Australian Robyn Denholm is selling the message that there is a risk of losing Musk as chief executive, or at least redirecting him to other areas of his personal business.

This is further evidence of what a captive board it is and how convinced it is that there is no greater tech entrepreneur in the world than Musk.

Sure, he’s successfully launched the world’s first profitable electric vehicle company, but his $44 billion ($67.5 billion) acquisition of Twitter (now X) was no financial triumph, and his ambitious plans to populate the world with robots and driverless taxis remain a work in progress.

Therefore, trying to clear a series of financial hurdles, including increasing the company’s market capitalization from today’s $1.45 trillion to $8.5 trillion, seems difficult.

Loading

It’s a metaphorical reinvention of the wheel, and the chances of that happening depend on Musk taking a break from his passion projects. interfering with the affairs of the US governmentto destroy wokeness and supposedly save western civilization. (By the way, one of his recent distractions was taking harsh shots at Mamdani, branding him a “charismatic hustler” and urging New Yorkers to vote for political rival Andrew Cuomo.)

Governance experts and several large shareholders disagree with the message that Musk and Tesla’s board are selling out, citing asymmetric risks and massive shareholder dilution.

But there are still many (and probably majority) shareholders who view him as a god rather than deriding him as a quaint symbol of technological excess.

They believed in his visionary message and are sticking with it.