Tesla and SpaceX CEO Elon Musk being outspoken about something may be not, but President Joe Biden responding to him for something is really a surprise
In an email to Reutars, Tesla and SpaceX CEO and multi billionaire entrepreneur Elon Musk has said that he is feeling super bad about the United States economy. The email that Musk has sent, titled as ‘Pause all hiring worldwide’, is sent after two days when the Tesla CEO has told his staff to return to their jobs or leave. In the email, Elon Musk has also outlined that he needs to lay off about 10% of staff of his electric car company.
Recently Elon Musk has put up a warning about the US economy that he said is either already amidst a recession or is heading towards one. Although even at this, the world’s richest person said that recession is a good thing while stating that it has been too long since there has been money raining on fools. Musk agreed that there is a need for some bankruptcies while he also estimated that the upcoming recession would last for 12 to 18 months.
Analyst at Morgan Stanley, Adam Jonas believes that the concerns that Musk has should be taken under consideration. Jonas said that Elon Musk has unique insight into the global economy and there is belief all around that a message from the multi billionaire entrepreneur would be carrying high credibility.
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But this time this has gone some more far when President Joe Biden himself responded to Elon Musk’s tweet. On friday, President Biden took on a super bad feeling comment of Musk about the US economy. Biden said that while Elon Musk is talking about inflation and recession, Ford is consistently growing their immense investment.
President Biden continued to say that Ford is building new electric vehicles and increasing their investment. Further he said that it going to hire 6,000 new union employees in the midwest. The other automobile company Stellantic, formerly known as Chrysler Corporation are also planning to make similar investments in the field of electric vehicles. Intel is also adding about 20,000 new jobs in the computer chips manufacturing industry.
Source: https://www.thecoinrepublic.com/2022/06/06/one-side-elon-musk-got-a-bad-feeling-about-the-us-economy-on-the-other-got-a-response-from-president-biden/