Seth Fiegeman

I mean, there's been a lot of talk about how large the potential awards are here, but I think there hasn't been enough talk about how ambitious this plan actually is, requiring Elon Musk to grow this company to $8.5 trillion in market capitalization and $400 billion in EBITDA.

So I think this is ultimately a question of what will this company be able to retain Elon Musk, who I think it's fair to say his value has been priced into the shares already quite significantly.

And it's more than just, in my opinion, more than just a good idea to approve this pay package.

It's actually essential for this company to transition to the next stage that's contemplated by the award.

Well, I mean, not really.

I mean, it's normal for force majeure type considerations to be taken into account.

I mean, somewhat ironically, when ISS recommended a vote against it, it failed.

took into account that it specified that there was a lack of precision in some of the milestones, but also simultaneously said that the milestones didn't give the board enough discretion in the future to adjust it.

So, you know, I think it's a no-win situation in terms of writing a plan like this, because obviously unexpected events can occur that you can't fully anticipate.

in writing the plan.

So I don't think those are particularly problematic.

I mean, I think probably the most common criticism I've heard is that the initial, the first step of the milestone at $2 trillion market cap

people would say have said it's it's too easy to achieve- but I think what that doesn't fail to appreciate is that.

The market is already priced in the fact that it believes this pay package will pass.

And that Elon will be retained for at least some period of time so it's probably

priced in his value already.

And it's a situation where he's kind of cursed by his own success of making the milestones easier to achieve because it's already priced in the value of his contribution.

So I sort of feel like some of the criticisms have been a bit unfair in that regard.

So, I mean, the pay package now had the benefit, if you want to call it that, of a completely adjudicated Delaware opinion on that 2018 pay package.

So they were able to address just about everything that the chancellor identified in that, including a totally different