Securities and Exchange Commission (SEC)

How Tesla lost its minotaur soul

Illustration: Aïda Amer/Axios

Tesla was never, technically, a minotaur: When it went public in 2010, it had raised just $482 million in equity capital, along with a $450 million loan from the Department of Energy.

And even the IPO only raised another $276 million. Nevertheless, Elon Musk comes from true minotaur stock: Musk is a paid-up member of the PayPal Mafia — the group of entrepreneurs who all but invented the modern version of blitzscaling.

Expert Voices

AI will chip away at 130,000 federal jobs in the next decade

Data: The Partnership for Public Service; Chart: Axios Visuals

The adoption of AI technologies over the coming decade is likely to eliminate work, and in some cases entire jobs, currently being done by more than 130,000 federal agency employees in more than 80 occupations.

The big picture: Re-training hundreds of thousands of other federal government employees will take time and resources that haven't yet been allocated on a large-scale.

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