Elon Musk Says He'll Spend Much Less Time At DOGE As Tesla Earnings Plunge

Core Points - Elon Musk plans to significantly reduce his involvement with the Department of Government Efficiency (DOGE) starting in May, focusing more on Tesla, which reported a 71% drop in net profit for Q1 [1][2][3] Group 1: Company Performance - Tesla reported a 71% decline in net profit for the first quarter, indicating potential challenges in financial performance [1] - The company has faced slumping sales both in the U.S. and internationally, alongside incidents of vehicle vandalism and protests targeting Tesla showrooms [3] Group 2: Government Involvement - Musk has faced backlash regarding his role at DOGE, which was established to address fraud and waste in government, resulting in over 280,000 layoffs across 27 agencies linked to DOGE efforts [3][4] - Despite the challenges, Musk believes that significant progress has been made in reducing waste and fraud, although he acknowledges the natural pushback from those affected by these changes [5][6] Group 3: Future Outlook - Musk reassured Tesla shareholders that the company has survived many difficult situations in the past and is not in a critical state despite the recent weak quarter [6] - He emphasized the importance of continuing to monitor and prevent the return of waste and fraud in government, indicating ongoing involvement with DOGE for the remainder of the President's term [6]