Tesla’s losing battle

• Elon Musk has started an EV price war that Tesla can’t finish.
• The fight over return-to-office is getting dirty.
• Bob Iger’s return as Disney’s CEO sparked hope. Now insiders are losing faith.
• Peter Thiel told the FBI about two Kremlin invites to private Putin meetings.

HENRYs — Americans who are high earners, not rich yet — are typically between 27 and 42, make six figures, and tend to live in metropolitan areas, according to Stash Wealth.

These wealthier Americans are seeing their wages stall, job opportunities dry up, and cost of living increase more so than lower wage earners. And given inflation and the slowing labor market for the industries these folks tend to work in, it’s likely HENRYs won’t actually get rich anytime soon.

In short, they’re stuck — and it’s forcing them to make some lifestyle changes. Think more shopping trips to Walmart, dollar-store runs, and dinners at McDonald’s as opposed to eating out at a sit-down restaurant.

What’s more, HENRYs may be making their financial situation worse by being too cautious and oversaving for retirement. One financial expert told Insider that oversaving for the future ultimately means HENRYs will have to make sacrifices on things they want or need now.

Of course, this isn’t the case for all HENRYs. Some Gen Z HENRYs are striking a balance of saving enough while managing to splurge on experiences and things that matter to them.

There’s only one problem: It’s not working.

Despite the drastic reduction in price, the number of cars Tesla delivered to customers in the third quarter actually declined. The company also watched its share of the electric-car market drop to about 50% from 62% at the beginning of the year.

Experts argue Musk’s desperate price war will only undercut the value of Tesla’s brand and open the door for more-patient automakers.

More on Tesla’s impossible price war.

Also read:

• Ford is losing dealers’ trust after a rocky year for the EV transition

Because I said so!

That, in a nutshell, has become many companies’ approach to getting workers to abide by return-to-office policies. These mandates are light on data, instead making broad statements about “togetherness” and “culture.”

In reality, in-office requirements are about reestablishing a surveillance society, Ed Zitron argues. They also serve as a convenient antidote to drops in revenue and profitability, which allow executives to shift the blame to lazy workers sitting at home.

Read about the ugly fight to get workers back in the office.

But a year into his second run as CEO of the Mouse House, the goodwill has mostly dried up. Layoffs, talk of selling assets, and an unclear path forward have led some to question his leadership.

“There was a lot of excitement and hope at the return of Bob Iger a year ago,” a current Disney staffer told Insider. “As far as I can tell, a lot of that, if not all of that, has dissipated.”

Why Disney insiders are anxious and losing faith.

Also read:

• Amazon Advertising’s hiring freeze is over, and it is staffing up like crazy

• “I thought my assistant job at Disney would launch my career as a creative exec. But moving up seems harder every day.”

Thiel dished to the FBI about two Kremlin invites to private meetings with Vladimir Putin. The Russia leader’s outreach to Thiel, made through a Russian diplomat, occurred in 2018 at a party in Vienna, and again in 2022.

Read the full report here.

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The Insider Today Sunday team

Cadie Thompson, executive editor, in New York City. Matt Turner, editor in chief of business, in New York City. Dan DeFrancesco, senior editor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Grace Lett, associate editor, in Chicago. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York City.

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