Soon after sitting down with Rogan, Elon appears to smoke a joint of combined tobacco and marijuana. "I mean, it's legal, right?" Elon asks. Filmed in California, the interview covers everything from samurai swords to innovation strategy.
Gene Munster, managing partner at Loup Ventures and historic supporter of Musk, commented after the stunt:
Elon’s actions are making it harder and harder to support Tesla as a company. His actions directly affect Tesla’s share price because Elon is Tesla...The use of recreational drugs, legal or not, goes against the unspoken rules of being a public CEO.
According to the Chicago Tribune, Tesla stocks fell 6 percent after the video dropped. Still, there are other reasons why this might be the case:
As the video gained traction, more news hit: Early Friday, the Palo Alto, California, company announced that Chief Accounting Officer Dave Morton resigned after a month on the job, citing public attention and the fast pace of the post.
Perhaps Musk's combined genius and celebrity will continue to protect him. Profit Confidential points out the worst-case scenario for both Musk and Tesla:
Musk also runs SpaceX, The Boring Company, and Neuralink—three companies that don’t have the burden of public filings and quarterly announcements. He has options.
This could hurt the TSLA stock price in the short run. Losing a mythical founder-CEO is always tough, but Musk brings a cult-like investor following wherever he goes, meaning that his departure would add significant selling pressure to the stock.