Musk: "Significant Challenges in Management" ... Despite Tesla's Plunge, "Long-term Outlook is Positive"

# Elon Musk Faces Challenges with Tesla Stock Plunge and X Outage, Remains Optimistic Long-Term In a turbulent day for Elon Musk, CEO of Tesla Inc., the stock tumbled, and the social media platform X (formerly Twitter) faced a significant outage. Despite these setbacks, Musk maintains an optimistic outlook for the long-term future. In an interview with Fox Business on the 10th, Musk discussed the difficulties of managing his businesses alongside his role as head of the Department of Government Efficiency (DOGE). "It’s extremely challenging," Musk stated when asked about balancing his responsibilities. Musk emphasized his efforts to make the government more efficient and reduce waste and fraud, claiming notable progression. "We’ve already saved over $4 billion per day," he explained, setting a target of $1 trillion in savings if progress continues unabated. When questioned about continuing this role for another year, Musk responded affirmatively. In regards to the final report expected mid-next year, Musk downplayed its significance, stressing that meaningful action is what truly matters. He acknowledged the support of President Donald Trump, saying, "No progress would have been achieved without the president’s backing." Elon Musk has faced criticism for perceived overreach of authority within the Trump administration. Protests have erupted in front of Tesla stores across major U.S. and European cities, reflecting growing dissatisfaction with Musk’s actions. Tesla’s stock experienced a 15.4% drop, erasing much of the gains under Trump’s presidency. Investor concerns have surfaced about Musk’s government duties detracting from his primary role of managing Tesla. Following the stock plunge, Tesla communicated on X that "long-term, things will be fine," seeking to reassure stakeholders. Despite criticisms and market reactions, Musk remains committed to government reform. In the interview, he defended his actions, saying, "It’s hard, but it’s the right thing to do. There’s an immense amount of waste and fraud in the government. A report last year estimated federal government fraud during the Biden administration at $500 billion." Musk elaborated on his mission to save taxpayers' money and prevent spending on what he considers unjustifiable projects, citing examples like animal sex-change surgeries and certain USAID initiatives. When asked about selecting future targets after the Treasury Department, Social Security Administration, and USAID, Musk replied, "Our activities are extensive across all departments, so it’s not about selecting just one at a time." Regarding the global outage of X, Musk attributed it to a cyberattack originating from Ukraine. "It’s not completely clear what happened, but a large-scale cyberattack from IP addresses in Ukraine attempted to take down the X system," Musk asserted, though he did not provide specific evidence. As Musk navigates these challenges, his commitment to reform and assurance of a positive long-term outlook for Tesla and his other ventures remain steadfast.