So everybody seems to be getting a bit skiddish because of Elon's recent behavior. The question to me is, are these people departing because Tesla is a house of cards and Elon is shaking the table? Or are they leaving because they believe Elon threatens even a stable company what with the SEC investigation and everything?
I'd love to be a fly on the wall for the after drinks conversations between finance people in TSLA.
Finance people don't change jobs that frequently. They usually spend years at gigs before leaving.
It is especially unusual for finance executives to leave so shortly after joining a new company. Barring serious family issues, it generally indicates serious financial problems at the new employer.
They’re leaving because they can make a lot more money elsewhere. TSLA has been very volatile while everything else has been going hockey stick for the past two years.
They are probably leaving because Elon works them like he works his engineers. They want nice cushy executive jobs and Elon does not give those to them. Finance people are a dime a dozen. It's not as if any actual irreplaceable knowledge is being lost here.
Any knowledge which wasn't transferred into a document of some kind will either be lost or have to be re-learned by experience.
High turnover in any sector is terrible for business. This is true even for relatively "unskilled" labor: informal, often unwritten practices between workers are essential to any kind of collaborative work. See the "slightly different sense" here: https://en.wikipedia.org/wiki/Work-to-rule
Finance workers are used to working insane hours, especially on Wall St., so I'm not sure I buy that. My theory - finance people are more familiar with the law and less willing to skirt it. They know the consequence can lead to them personally going to jail or getting their CPA revoked.
It depends on the role. If you rise into a position where you are managing customer relationships or otherwise have a P&L that is directly attributable to you, your hours become - not necessarily shorter - but not the primary thing you are judged on. An M&A banker who spends two days a week on the golf course and only rolls into the office once a week on a Thursday afternoon to tell his colleagues about the new mandate he secured for the firm isn't going to get shit from anyone. On the other hand - above a certain level, no sales = good night, sweet prince.
Juniors are judged by long hours and making sure their commas are perfect (in documents rarely read by clients) because there is nothing else to judge them on.
I'd love to be a fly on the wall for the after drinks conversations between finance people in TSLA.