Tesla’s largest outside investor has long been tight-lipped on Elon Musk. That’s starting to change. – INSIDER

Tesla’s largest outside investor has long been tight-lipped on Elon Musk. That’s starting to change. – INSIDER

Elon Musk
Managers at Tesla's largest outside shareholder, Baillie Gifford, rarely speak publicly. When they do, the electric automaker is usually not the topic of conversation. However, the firms' partner James Anderson had blunt advice for Elon Musk in the wake of a tumultuous year and multiple strategy changes. "One should, on the whole, try not to give too many targets that may not be attainable, with specific dates at establishment, " he told Bloomberg News from Sun Valley. Tesla CEO Elon Musk made a bold pitch to investors earlier this year: one million robo-taxis on the streets by 2020, helping boost the electric automaker's market value by more than 1000% to $500 billion. Even by Tesla standards, it was quite the strategy shift. So drastic even that the company's largest outside shareholder is urging Musk to maintain his focus on Tesla's core mission. "One should, on the whole, try not to give too many targets that may not be attainable, with specific dates at establishment, " James Anderson, a partner at Scottish investment firm Baillie Gifford told Bloomberg News on Wednesday from Sun Valley, Idaho, where the world's tech moguls are gathered this week for Allen & Company's annual summer conference. ....


Read more: A senior partner at Baillie Gifford shares what Tesla, Amazon, and the firm's other wildly successful investments have in common — and how it identifies them early on "We totally ignore the market, " another Baillie Gifford partner, Stuart Dunbar, t old Business Insider in February. "It doesn't matter. We're not invested in the market — we're invested in a handful of great companies." He continued: "The only thing we're interested in is whether these companies are making enough operational progress to meet long-term goals the way we expect them to." To close out the Bloomberg interview, Anderson reaffirmed his commitment and faith in Musk. "The last thing we want to do -- and I would be resilient about this -- is to in any way crimp the great gifts and extraordinary achievements that Mr. Musk does have, " he said. More Tesla news:. .

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