No, it hasn’t gotten to this just yet, but we shouldn’t even be having this conversation.
The SEC’s decision to sue Tesla CEO Elon Musk, with the intention of barring him from serving as an executive or director not only of Tesla, but of any corporation under the jurisdiction of the SEC, was the height of folly. Do any of us, including the SEC commissioners involved, really believe that our society would have been better off with Elon Musk on the sidelines? Do they really think that anyone else could do the job of representing Tesla, or the future, better than Elon Musk?
Let’s be clear, there are a lot of smart people in Silicon Valley. But, most of them are not named “Elon Musk.” What we discovered over the weekend was that that name was worth at least $6 billion in value, and possibly a lot more, based on the fall in market capitalization on the day following the announcement of the SEC action. It’s hard to imagine very many other people whose suspension from work life would bring such a hit on the very next day. Yet, I suspect that very few of us are actually surprised. In our minds, Tesla is Musk, and without Musk, what is Tesla?