What do brain implants, area rockets, and electric vehicles have in common?
Elon Musk, Tesla’s billionaire president, said he’s open to the possibility of joining his numerous services under one umbrella, similar to Google’s corporate shakeup 5 years earlier.
“Excellent idea,” Musk tweeted after being pitched the idea by David Lee, a Tesla investor, and YouTuber. On Twitter Wednesday, Lee suggested Musk set up a holding business called “X” that would be the mom and dad company of Tesla, rocket builder SpaceX, tunneling outfit The Boring Business, and brain-implant startup Neuralink.
It’s uncertain whether Musk is seriously considering the relocation or just humoring among his 41 million Twitter fans, as he typically does.
Regardless, there is a notable precedent– Google formed a brand-new parent business called Alphabet in 2015 to house its signature search engine and web services operation together with its other different organizations, such as self-driving cars and truck unit Waymo and expert system firm DeepMind.
There is a great deal of sticking around questions about how Musk would execute a similar restructuring, such as whether the X company would be publicly traded like Tesla or independently held like SpaceX, The Boring Business, and Neuralink.
But Lee contends the move would make it much easier for the world’s second-richest man to oversee his existing endeavors and begin new ones. Plus, he kept in mind, Musk currently owns the domain for X.com, an online bank he established in 1999.
“This is not a move concentrated on increasing market cap or stock cost,” Lee stated on Twitter. “Rather, this is a relocation concentrated on producing the structure for Elon to be able to continue to make big bets for humankind, and have the time to manage them.”
Tesla did not right away react to any ask for remark Thursday. The electric-car maker’s stock cost was up about 2.7 percent at $663.61 as of 11:45 a.m.