380 million dollars A hundred thousand dollars per every vehicle sold in 2022 182 000 per hour. This is what Lucid Motors paid to Peter Rawlinson the current CEO and founder of the company. I'm not gonna be sitting here and telling you that people don't deserve to get paid in every organization. people deserve to make money.

But when your CEO makes 380 million dollars and your company barely sold 4 000 cars last year, how in the world are going to tell me that this CEO gives a flying Frick about your company? Don't worry about you and your employment and the future of this business. even if you compare Peter Rawlinson to the other CEOs in the Auto industry, companies like GM and Ford their CEOs don't get paid anywhere near what this dude got paid. Maryborough did 35 million last year Jim Farley did 18 million. The CEO of Rivian did a million in base and another 15 in options.

There's no CEOs in the Auto industry that come anywhere near this guy. In fact, he's 10 times more than the second place which is Mary Para Now granted that most of his compensation is in stocks and I get it, but 380 million dollars for doing what exactly? now Elon Had a very interesting choice of words for this man after already dismantling him about a year and a half ago, saying that he was not the chief engineer of the Tesla Model S or whatever he was claiming to be. Now Elon Musk comes out again and he basically said this following thing: Beware of any company where the compensation of leadership isn't linked to Performance Now the question is, is it linked to Performance In the case of Peter Rawlinson and Lucid Motors Well, let's look at the performance, shall we? Are you on track for 20 000 vehicles in 2022? Oh, this company produced 7 000 vehicles in 2022. Now originally when the company went back, their projection for 2022 was 20 000 Vehicles so they were not exactly On Target.

Let's put it this way, but the craziest part here is not the fact that they couldn't Scale is the fact they couldn't sell because out of those 7 000 vehicles that they did manage to push out somehow from the production line, they've only sold 4 400 Vehicles So what exactly is that performance they deserve so much credit for? That's a far cry from the 20 000 Vehicles they promised in 2022. And there's five and a half billion dollars they promised in revenues in 2023.. currently they did 700 million of revenues, sold 4 400 cars I Mean do you really want to pay this man 90 000 per every vehicle sold If he is willing to take this money In my opinion, he clearly doesn't give a damn about this company. Why would you? How could you? How could you even imagine a company that generates 700 million dollars in revenue and the CEO takes 380 million as compensation? This is what happens when you obsess about air vents and door handles instead of actually making cars get out of the factory and being sold to the public, you're obsessed about all these minutiae details and looking good on TV instead of actually pushing out cars.

Now comparing him to Elon Musk which is a really bold comparison. Elon Musk Didn't even take a cent from the company's salary for the past three years. Not in 2022, not in 2021, Not in 2020. And the only reason I can't say 2019 because it took 25 000 on the company's salary in 2019.

Whoopty Freaking Do. Elon Musk is basically working for his existing stock. He's a Founder He has plenty of stock, plenty of options. He knows if the company does well, he's going to make a ton of money.

And guess what? That's how he became the richest man in the world. Not by granting himself 380 million dollars worth of stock options and incentives in a single year. That's just Unthinkable to me now. Warren Buffett Once said that the stock market is a mechanism of transferring wealth from the inpatient to the patient.

Now, in this case, Lucid seems to be a transferring mechanism of funds from the Saudi government to the pockets of Peter Rawlinson There's no other way to explain this thing. It's absolutely Bonkers To me, this is a company that lost two and a half billion dollars net income last year. So this company loses two and a half billion in cash. This guy claims 380 million dollars in salary in the same year.

All while the company has about 2.8 billion in the bank, which is after the Saudis gave them a bunch of money. They got enough money to last for another year and it seems that Peter Robinson is engaged in basically lining up his pockets as much as possible before this horror show comes to an end. I Think this company should be renamed from the Lucid Motors to the Lucid fart because it will be soon forgotten and it will be remembered as an embarrassing event and nobody will care. This company was never profitable, not operationally, not even in a gross profit business margin.

This company has never made sense. not from a business perspective, not from an operational perspective. The only only reason it exists is because Peter Robinson sold in my opinion, a pipe dream to the Saudis. The only thing that's keeping this company alive is the Saudi government's money.

At the moment, the Saudis realized that this company is more embarrassing to them alive than dead. They're gonna pull the plug and this company will be no more. It makes no sense from any business perspective. Now look at the share price.

right now. It's even crazier. It's trading at 20 time. Sales price to sales of 20 GM is trading at 0.3 4.3 Tesla at eight and these guys are trading at 20 pound sales.

They can't make enough of these cars. They can't sell enough of these cars. They can't make any money. They're being held on life support by the Saudis and they got a CEO who clearly doesn't care about the company in my opinion.

Now this isn't a good future. Now for those of you who are wondering: I get a lot of questions about this shirt. Why do I always wear the shirt? Do I have any other clothes? Answer is no I can't take it off the minute I take it off to see what happens I'll show you the minute I take it off something crazy happens. You won't believe it.

Look I can and I can do it again and again but it always comes back. That's how I look under my shirt. This is me naked in any case. Jokes Aside Thank you so much for staying with me I Hope this made your day a little bit brighter.

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