What kind of engineering work? That’s a really broad category.
Like, are we talking aerospace engineering? Software engineering? Systems engineering?
I don’t think the interviews angle means anything. Just because he was able to convince a journalist he knew the right words doesn’t mean that he was actually contributing to the actual engineering of the rockets. If he spent 20 hours a week in engineering meetings, he might have absorbed enough to talk intelligently about it.
I also wouldn’t give much credit to employees saying that he did engineering work. This is the same guy who bought the title of “founder” when he bought Tesla, and loves using NDAs to muzzle people.
I’m not saying I have doubts about his actual engineering because I think he’s an asshole so he must be an idiot. I’m saying it because I’ve never heard him say anything technical that wasn’t basically Star Trek technobabble, and at the same time I have seen him do a lot of shady things to make it seem like he’s more involved than he is.
The thing is, those investors are in a Catch-22 situation.
Tesla’s valuation is absolutely absurd. Even after all the value the stock has lost, it still has a P/E ratio of more than 100. Standard, boring, normal car companies that are well run have a P/E ratio of 7.
These investors have convinced themselves that Tesla deserves to be thought of completely differently than other car companies because they have a genius in charge.
If they ditch Elon, they have to admit that they’re just a normal car company, and the right price for their shares is $14 each or so, not the $270 it is now. But, if they keep Elon, they have to convince themselves that somehow their sales are going to turn around and their genius who happens to be a Nazi will somehow convince all the people who hate Nazis to buy cars from him.