Aug 25, 2018

Elon Musk: Tesla will stay a publicly traded company

Photo: Joshua Lott/Getty Images

Tesla's brief flirtation with a plan to go private, announced by founder Elon Musk in a tweet earlier this month, is over, at least for now. "I met with Tesla’s Board of Directors yesterday and let them know that I believe the better path is for Tesla to remain public," Musk wrote in a statement posted Friday night. "The Board indicated that they agree."

Why it matters: Tesla, which makes electric cars, is an iconic company on the road to greener transportation — and a bellwether for whether Silicon Valley's startup ideology can transform other industries. More than Musk's personal vindication hangs on its fate.

What's next: Musk's unorthodox announcement sent Tesla's stock price on a roller-coaster ride, occasioned consternation among investors and analysts, and triggered an investigation by the Securities and Exchange Commission. Abandonment of the plan to go private will probably reassure the market, but is unlikely to derail those inquiries or deter the shareholder lawsuits Tesla is likely to face.

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The cost of going after Bloomberg

Illustration: Eniola Odetunde/Axios

Here's the growing dilemma for 2020 Democrats vying for a one-on-one showdown with frontrunner Bernie Sanders: Do they have the guts — and the money — to first stop Mike Bloomberg?

Why it matters: Joe Biden, Pete Buttigieg, Amy Klobuchar and Elizabeth Warren all must weigh the costs of punching Bloomberg where he looks most vulnerable: stop-and-frisk, charges of sexism, billionaire entitlement. The more zealous the attacks, the greater the risk he turns his campaign ATM against them.

How Trump’s economy stacks up

Source: "Presidents and US Economy", Trump figures through 2019 courtesy of Alan Blinder; Note: Data shows real GDP and Q1 growth in each term is attributed to the previous president; Chart: Axios Visuals

Average economic growth under President Trump has outpaced the growth under Barack Obama, but not all of his recent predecessors.

Why it matters: GDP is the most comprehensive economic scorecard — and something presidents, especially Trump, use as an example of success. And it's especially relevant since Trump is running for re-election on his economic record.

Coronavirus cases rise as 14 American evacuees infected

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's NHC; Note: China refers to mainland China and the Diamond Princess is the cruise ship offshore Yokohama, Japan. Map: Danielle Alberti/Axios

14 Americans evacuated from the Diamond Princess cruise ship tested positive for the novel coronavirus before being flown in a "specialist containment" on a plane repatriating U.S. citizens back home, the U.S. government said early Monday.

The big picture: COVID-19 has now killed at least 1,770 people and infected almost 70,000 others. Most cases and all but five of the deaths have occurred in mainland China. Taiwan confirmed its first death on Sunday, per multiple reports, in a 61-year-old man with underlying health conditions. Health officials were investigating how he became ill.

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