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    Why N.Y.C. Business Leaders Fear Mamdani

    As voters head to the polls, the democratic socialist candidate appears to be neck-and-neck with Andrew Cuomo. That has many executives worried.Business leaders have poured money into efforts to defeat Zohran Mamdani in New York City’s Democratic mayoral primary.Victor J. Blue for The New York TimesBusiness’ Primary Day worriesBusiness leaders have plenty of global issues to worry about. But on Tuesday, another matter is hitting closer to home: the Democratic primary for New York City’s mayor.The latest poll suggested that Andrew Cuomo could ultimately lose to Zohran Mamdani, an assemblyman and democratic socialist. Executives are concerned that could have negative potential consequences for the city.Why executives fear Mamdani: While Cuomo carries baggage like his resignation as governor over a sexual harassment scandal, Mamdani is proposing ambitious and expensive ideas, like a rent freeze, free city buses and the creation of city-owned grocery stores.How he could fund them is causing agita: raising the corporate tax rate and income taxes for the city’s millionaires by 2 percent. He also wants New York to borrow $70 billion over the next decade, on top of billions in additional planned debt-raising.Cuomo has drawn support from a who’s who of the city’s business elite, including:Mike Bloomberg, who has given $8.3 million to a super PAC tied to CuomoRepublican-leaning executives like the financiers Bill Ackman (who called Mamdani “a dangerous and catastrophic choice”) and Dan Loeb, as well as John Catsimatidis, the supermarket mogulWall Street deal makers such as Blair Effron, Steve Rattner and Antonio WeissAlex Karp, the Palantir co-founder and C.E.O.“Terror is the feeling,” Kathryn Wylde, the chief executive of the Partnership for New York City, which represents top business leaders, told Andrew on CNBC on Tuesday.Mamdani opponents say businesses and top taxpayers will flee New York if he wins:“We may consider closing our supermarkets and selling the business,” Catsimatidis, who owns the Gristedes chain, told The Free Press.“I will never move from New York, but there’s a lot of other people that will and are leaving New York,” Neil Blumenthal, the co-founder and co-C.E.O. of the eyewear brand Warby Parker, also told The Free Press.Writing about wealthy elites criticizing Mamdani, Loeb wrote on X, “Another possibility is that they love New York and don’t want it to turn into a hellscape like San Francisco, Chicago or Portland.”Mamdani says he doesn’t oppose private industry. He told The Times, for instance, that he now believes the private market has “a very important role” in housing construction.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Why Did Wall Street Get Trump So Wrong?

    Donald Trump’s 2024 election sent many finance types into spasms of anticipatory ecstasy as they imagined freedom from regulations, taxes and unfamiliar pronouns. “Bankers and financiers say Trump’s victory has emboldened those who chafed at ‘woke doctrine’ and felt they had to self-censor or change their language to avoid offending younger colleagues, women, minorities or disabled people,” The Financial Times reported a few days before Trump’s inauguration. It quoted one leading banker crowing — anonymously — about finally being able to use slurs like “retard” again. The vibes had shifted; the animal spirits were loose.“We’re stepping into the most pro-growth, pro-business, pro-American administration I’ve perhaps seen in my adult lifetime,” gushed the hedge fund manager Bill Ackman in December.One Wall Street veteran, however, understood the risk an unleashed Trump posed to the economy. After Trump’s victory in November, Peter Berezin, chief global strategist at BCA Research, which provides macroeconomic research to major financial institutions, estimated that the chance of a recession had climbed to 75 percent. “The prospect of an escalation of the trade war is likely to depress corporate investment while lowering real household disposable income,” said a BCA report.The surprising thing isn’t that Berezin saw the Trump tariff crisis coming, but that so many of his peers didn’t. You don’t have to be a sophisticated financial professional, after all, to understand that Trump believes, firmly and ardently, in taxing imports, and he thinks any country that sells more goods to America than it buys must be ripping us off. All you had to do was read the news or listen to Trump’s own words. Yet Berezin was an outlier; most of the people who make a living off their financial acumen had less understanding of Trump’s priorities than a casual viewer of MSNBC.On Monday, as stocks whipsawed on shifting news and rumors about the tariffs, I spoke to Berezin, who is based in Montreal, about how Wall Street had gotten Trump so wrong. He told me that many investors who pride themselves on their savvy are in fact just creatures of the herd. “All these cognitive biases that amateur retail investors are subject to, the Wall Street pros, are, if anything, even more subject to them because they’ve got career risk associated with bucking the trend,” he said.People in finance, said Berezin, are more likely to be punished for being too cautious and pessimistic than for being too hopeful and aggressive. Last year, for instance, a famed strategist named Marko Kolanovic left JPMorgan Chase abruptly when his gloomy predictions about 2023 and 2024 turned out to be wrong, or least premature. Mike Wilson, also known for his bearishness, stepped down from his post as chair of Morgan Stanley’s Global Investment Committee, though he stayed with the company. “You don’t get fired for being bullish, but you do get fired for being bearish on Wall Street,” said Berezin.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Trump’s Tariff Threat Roils Global Markets

    The dollar gained and investors sold off stocks after the president-elect promised to levy new restrictions on the United States’ biggest trade partners. President-elect Donald Trump’s economic policy is already roiling global markets.Brendan McDermid/ReutersThe other Trump trade Investors and policymakers are getting a dose of Trumponomics déjà vu this morning.Global stocks are falling, and the dollar is climbing. The volatility comes after President-elect Donald Trump’s vow to impose tariffs on the United States’ biggest trading partners — Canada, China and Mexico — on Day 1 in office in an apparent effort to clamp down on the flow of cross-border drugs, like fentanyl, and migrants.The latest:Trump wants to impose 25 percent tariffs on Canada and Mexico “on ALL products coming into the United States,” he said on Truth Social. He also wants an “additional” 10 percent tariff on imports from China, which Trump blames for the fentanyl crisis, a charge that Beijing has repeatedly disputed.The Canadian dollar and Mexican peso fell sharply against the dollar. Europe, Japan and South Korea weren’t even mentioned in Trump’s announcement, but stocks have fallen there, too. That suggests rising fears that a new trade war could scramble global supply chains and dent profits.Automakers are some of the hardest hit stocks, with Volkswagen, Stellantis and Nissan, which run manufacturing operations in Mexico, all down.Today’s losses have reversed some of yesterday’s “Bessent bounce” rally. Investors were relieved after Trump picked Scott Bessent, the market-friendly hedge fund mogul, to run the Treasury Department.But the reverberations show that it’s Trump calling the shots. The president-elect has made no secret of his desire to use tariffs to further his America-first agenda, and he has yet to announce his pick to be U.S. Trade Representative. (Another tariff supporter, Robert Lighthizer, is in the running.)Trump’s latest threats may be just a negotiating tactic. That’s the belief of some Trump backers, including Bill Ackman, the billionaire financier. But they are a reminder of how Trump set off alarm bells across diplomatic channels and international markets during his first term often via social media posts. “Waking up to check the tweets for any policy announcements could become the norm,” Mohit Kumar, an economist at Jefferies, wrote in a note this morning.Prime Minister Justin Trudeau of Canada spoke to Trump about trade and border security after the president-elect’s announcement, The Times reported. China pushed back. “No one will win a trade war,” a spokesman for the Chinese Embassy in Washington said in a statement.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Columbia DEI Chief Is Accused of Plagiarizing Dissertation From Wikipedia

    A complaint said the official, who oversees diversity, equity and inclusion efforts at Columbia’s medical school, also copied work from at least 28 other authors.An official in charge of diversity, equity and inclusion at Columbia University’s Irving Medical Center was accused this week of plagiarizing large sections of his doctoral dissertation, according to an anonymous complaint filed with the university.The 55-page complaint accused the official, Alade McKen, of copying material in his 2021 dissertation at Iowa State University from more than two dozen other scholars and from Wikipedia, which is written and edited by volunteers from the general public.The complaint was published online Thursday by The Washington Free Beacon, a conservative news website that led a campaign last year against the former president of Harvard University, Claudine Gay. She resigned in January following accusations of plagiarism and after her response to antisemitism on campus was criticized.Plagiarism allegations have rocked the world of elite academia in recent months. They have often had explicitly political overtones, with conservative critics leveling accusations against left-leaning administrators and at least one high-profile accusation that has been portrayed as an act of liberal revenge.The complaint published online on Thursday accused Mr. McKen of copying passages of his dissertation from the Wikipedia entry for “Afrocentric education” and from the published scholarship or the doctoral dissertations of at least 28 people.“Is Alade McKen a plagiarist?” the anonymous author of the complaint wrote at the top of page 1. “A small selection of examples from his dissertation are included below to guide your investigation.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Bill Ackman and Mark Zuckerberg Fail to Land Candidates on Harvard’s Board of Overseers

    The candidates had promised to challenge the university’s leadership, but failed to collect enough signatures to get on the ballot for the board.It’s hard to get into Harvard, even if you’ve done it before.Mark Zuckerberg, head of Meta, and Bill Ackman, head of the Pershing Square hedge fund, discovered as much, in their failed push to get dissident candidates onto the Harvard Board of Overseers, one of the university’s two governing bodies.The candidates — a slate of four backed by Mr. Ackman and one candidate backed by Mr. Zuckerberg — said on Friday that they had not collected enough petition signatures to get on the April ballot for election to the board.“We are disappointed but greatly appreciate all the support,” Zoe Bedell, an assistant U.S. attorney, who ran on the Ackman slate, said in a statement on Friday. “We look forward to trying again next year.”Their failure raised the question of how much support existed for Mr. Ackman’s persistent campaign against Harvard’s leadership over the past few months.Mr. Ackman touted the candidates’ military experience, and Mr. Zuckerberg’s candidate, Sam Lessin, is a venture capitalist and a former employee of Facebook (as Meta was formerly known).But they could not surmount the first hurdle: collecting the 3,238 signatures from Harvard alumni to get their names on the ballot for the April election.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Dean Phillips Drops DEI From Campaign Website After Bill Ackman Donation

    The campaign website for Representative Dean Phillips, the Minnesota Democrat mounting a long-shot primary challenge to President Biden, has a policy platform that signals liberal bona fides tempered by a Midwestern businessman’s practicality. It includes headers like “Climate Action,” “Women’s Health and Economic Security” and “Immigration Reform.”Sometime on Tuesday, one header was changed. Gone was “Diversity, Equity, and Inclusion.” In its place: “Equity and Restorative Justice.”The text beneath the header — including acknowledgments of racial disparities and vague promises to ensure equal opportunity — was untouched. But the tweak was nonetheless significant. Even more so was its timing: On Saturday, Mr. Phillips had received the endorsement of William A. Ackman, the billionaire investor who in recent months has become an outspoken critic of so-called D.E.I. programs in higher education.Mr. Ackman did not merely endorse Mr. Phillips; in a lengthy post on X on Saturday, where Mr. Ackman has a considerable following, he said that he had already given the maximum $3,300 donation allowed to Mr. Phillips’s campaign, and he announced that on Tuesday, after the federal holiday for Martin Luther King’s Birthday, he planned to wire $1 million to We Deserve Better, a super PAC formed late last year that is supporting Mr. Phillips’s candidacy.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber?  More

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    Vivek Ramaswamy Is a LinkedIn Post Come to Life

    Last year, for a column I was writing about the power that large asset managers like BlackRock and Vanguard exert over the global economy, I called up Vivek Ramaswamy. He was delighted to hear from me.I don’t mean this as self-aggrandizement. Ramaswamy was set to start Strive, an asset management company he hoped would take on the BlackRocks and Vanguards of the world, and was about to publish his second book, so he had good reason to court media attention. Still, I found his enthusiasm noteworthy; as a journalist who covers Silicon Valley, I’m used to chatting up smooth-operator entrepreneurs eager for coverage, but Ramaswamy’s media hustle was of a different order.He told me I could call him anytime I’d like to bounce ideas off a “thought partner.” He sent me a PDF of his upcoming book — “No one has seen an advance copy yet” — and followed up to ask, seemingly earnestly, for my thoughts on his thesis. And when I joked, in my piece, that the title of his first book, “Woke, Inc.: Inside Corporate America’s Social Justice Scam,” sounded “as if it had been formulated in a lab at Fox News to maximally tickle the base and trigger the libs,” he texted me with an explanation that he suggested I append to the published column:My publisher (Hachette) and I selected the book title long before the word “woke” had become weaponized in the culture wars. Today, I mostly don’t even use that word anymore; it’s not part of my vernacular today. It was suggested to me as a title by a self-identified “far-left” friend in early 2020. The word took on a different valence between then and late 2021 when my book was published. I just wanted you to know that, since I saw you mused about the etymology of the title in your piece. It certainly wasn’t cooked up in a Fox News lab, and in all honesty the goal wasn’t to trigger anyone. If anything, my goal with the book was to provide a unifying voice across culturally fraught questions, and I think most left-wing readers of the book would agree that it was at least clear I tried to do that.Maybe that was all really the case. But I got the impression that he was also trying — a little too hard — to paint himself in a light that he thought might appeal to a lefty Times columnist.In the wake of his breakout performance at last month’s Republican primary debate, much has been made of Ramaswamy’s irrepressible annoyingness — is it a bug that could prevent him from winning the G.O.P. presidential nomination, or is it the feature that could help him secure it? But what I found striking about Ramaswamy, both in our conversations and on the debate stage, was not that he’s especially irritating (how many people who run for president aren’t?) but that he represents a distinct, very familiar flavor of irritation: He’s the epitome of millennial hustle culture, less a Tracy Flick know-it-all than a viral LinkedIn post come to life. The guy who’s always mining and nurturing new connections, always leveraging those connections into the next new thing, always selling and always, always closing.Seen this way, Ramaswamy’s otherwise quixotic-seeming presidential run makes perfect sense. Whether or not it wins him elected office, running for the White House is the ultimate rise and grind, and it probably offers far more upside than down. Incessant, glad-handed striving has already made Ramaswamy a wealthy man. According to a report in Politico this year, his campaign said he’s ready to put more than $100 million into his presidential bid, but because this latest side hustle feeds so neatly into his other projects, it’s hardly clear that the run will be so costly. Measured in name recognition, the expansion of his network or future moneymaking opportunities, running for president could well add to his riches.Take Strive, the management company he co-founded. In “Woke, Inc.,” Ramaswamy lamented what he saw as the pollution of capitalist principles with social justice activism. Rather than focus on the bottom line, he argued, the leaders of America’s largest corporations had allowed their employees and other elites to goad them into adopting what he said are costly political stances on race, gender, climate and other charged issues.This isn’t exactly a groundbreaking position on the right — combating corporate wokeness is basically Ron DeSantis’s whole thing. But whereas DeSantis’s fixation on all things woke is primarily a vehicle for his political ascent, Ramaswamy saw in wokeness a larger opportunity. He would write a book and guest essays assailing corporate E.S.G. (environmental, social and governance) practices, and he was also considering a political run, but to really “move the needle,” he told me, would also require taking on “the asset management ideological cartel.” And backed with a reported $20 million from billionaire investors and tech entrepreneurs he’d courted, among them Bill Ackman and Peter Thiel, he started Strive.That’s not a lot of money with which to take on the giants of asset management — BlackRock and Vanguard each manage trillions in assets — but Ramaswamy’s hustle was unceasing. Three months after it opened for business, Strive announced that it had already attracted $500 million in investments for its anti-woke E.T.F.s, or exchange-traded funds. In June it reported $750 million in assets under management, and this week it reported crossing the $1 billion mark. That’s minuscule compared with the giants, but its growth is significant; in July, Semafor’s Liz Hoffman noted that it took J.P. Morgan two years to reach $1 billion in assets after it started offering E.T.F.s in 2014.“It is a rare feat for any indie issuer to hit $1 billion in first year,” Eric Balchunas, a Bloomberg Intelligence analyst, told Bloomberg News of Strive’s accomplishment. “Ramaswamy’s wealthy backers helped a lot, and running for president probably can’t hurt, either.” You think?Ramaswamy no longer works at Strive. Via email, the company told me that he was the executive chairman of the board and ran day-to-day operations until February, when he stepped down to run for president.But he still has a huge interest in its success. In an S.E.C. filing last month, Ramaswamy is identified as the company’s majority shareholder. In a financial disclosure form filed in June, Ramaswamy valued his stake in Strive at over $50 million — a remarkable amount for a company that’s just about a year old, where he worked for just months. His disclosure listed his stake in Roivant Sciences, a biotech company he was previously the chief executive of, at over $50 million as well. (Forbes recently calculated Ramaswamy’s net worth at around $950 million.)Looking back on my exchange with Ramaswamy, I find it interesting how hard he pushed back on his association with the word “woke”; he hasn’t shied away from it on the campaign trail. In February, when he announced his candidacy in The Wall Street Journal, he wrote that “America is in the midst of a national identity crisis” and that “the Republican Party’s top priority should be to fill this void with an inspiring national identity that dilutes the woke agenda to irrelevance.”But his current comfort with “woke” works for winning over a G.O.P. primary audience. When he needs to cultivate a broader base, whether in the general election or in hopes of expanding his Rolodex for whatever side hustle comes next, I’m sure he won’t hesitate to reach out and tell me just what he thinks I want to hear.Office Hours With Farhad ManjooFarhad wants to chat with readers on the phone. If you’re interested in talking to a New York Times columnist about anything that’s on your mind, please fill out this form. Farhad will select a few readers to call.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram. More

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    Disney vs. Florida

    A debate over taxes is rapidly unraveling Florida’s long relationship with Disney, with broader implications for corporate America.Supporters of Florida’s so-called “Don’t Say Gay” bill at a weekend rally outside Walt Disney World in Orlando.Octavio Jones/ReutersNot so special anymoreYesterday, the Florida Senate voted to revoke special benefits that, since the 1960s, have given Disney the ability to essentially self-govern a vast area around its Disney World theme park and issue tax-free municipal bonds. The state’s House, which like its Senate is led by Republicans, is expected to vote for the measure today.It’s a rapid unraveling of a long relationship. Last month, Disney C.E.O. Bob Chapek, facing a backlash from employees, spoke out against Florida’s so-called “Don’t Say Gay” law, which prohibits classroom discussion of sexual orientation and gender identity until the third grade, and limits it for older students as well. Gov. Ron DeSantis, who is eying a 2024 presidential run, has hit back, calling the company “Woke Disney,” and saying it no longer deserves its long-held special status. “If Disney wants to pick a fight, they chose the wrong guy,” DeSantis wrote in a recent campaign fund-raising email.This is about more than taxes, with broader implications for Disney, Florida and all of corporate America:For Disney: The company’s theme parks are flying, thanks to looser pandemic restrictions and higher-priced ticket sales. The loss of Disney’s special tax district could put a dent in that growth, and it would also restrict the company’s ability to develop the land it owns and tap state resources to do it.For Florida: The biggest issue is nearly $1 billion in tax-free bonds that have been issued by Disney. Florida law says that if a special tax district is dissolved, the responsibility to pay those bonds reverts to local governments. Democratic state lawmakers say that the interest on those bonds equates to an additional tax burden of $580 per person for the 1.7 million residents of neighboring Orange and Osceola counties, which would also have to step in and provide many of the public services for the area that are currently funded by the company. Disney employs about 80,000 people in Florida.For corporate America: Disney’s clash with Florida is the latest example of how companies’ growing willingness to speak out on social and political issues puts them in conflict with some lawmakers. Last year, Georgia politicians threatened to raise taxes on Delta after the airline spoke out against the state’s restrictive voting laws. More recently, Texas lawmakers have said they would bar Citigroup from underwriting the state’s bonds unless the bank revoked its policy to pay for employees to travel out of state for abortions, which are severely restricted there.“I don’t think this is going to stop companies that have a strong reputation and value system,” Paul Argenti, a professor at Dartmouth’s Tuck School of Business, told DealBook. “It’s a real test of what is the Disney value system and what they are willing to stand up for.” Lloyd Blankfein, the former Goldman Sachs C.E.O., tweeted that Disney’s special tax status may not have been a good policy when it was first adopted, but DeSantis’s recent move looks like “retaliation” for the company’s stance on unrelated legislation. “Bad look for a conservative,” he said.HERE’S WHAT’S HAPPENINGThe Justice Department appeals to reinstate the transportation mask mandate. It will challenge the ruling by a federal judge in Florida who struck down the mandate on Monday, with the C.D.C. declaring that the mask rule was necessary to prevent the spread of the coronavirus. Meanwhile, Gov. Kathy Hochul of New York urged people to take “common sense” safety measures, as New York City prepared to raise its Covid alert level amid rising cases.Workers at an Apple store in Atlanta move to form a union. If they are successful, it would be the first of the tech giant’s stores in the U.S. to unionize. The move reflects increasing momentum in service-sector unionization, with recent union wins at Starbucks, Amazon and REI locations.The Obamas are leaving Spotify. Barack and Michelle Obama will not renew their production company’s lucrative podcasting contract with the streaming service, Bloomberg reports. In a speech at Stanford today, the former president is expected to speak about the scourge of falsehoods online, as he wades deeper into the public fray about how misinformation threatens democracy.Nestlé raises prices steeply, suggesting that inflation will persist. The world’s largest food company said today that the prices it charges for products rose by more than 5 percent on average in the first quarter, the biggest jump in that quarter since at least 2012. The largest increases, of more than 7 percent, were in pet food and bottled water.Chinese energy giant Cnooc surges in Shanghai debut. The company’s listing comes months after it was delisted from the New York Stock Exchange to comply with a Trump-era executive order banning American investment in companies that the U.S. says aid China’s military. Cnooc raised $4.4 billion in the offering.Tesla’s mixed messageTesla reported its latest quarterly earnings yesterday and, no, the company’s C.E.O., Elon Musk, did not talk about his attempt to buy Twitter. (Musk could fund the purchase, in part, by selling some of his Tesla shares or using them as collateral for loans.)Musk instead kept the discussion focused on Tesla, delivering some good and bad news to the electric carmaker’s shareholders. The company’s shares rose 5 percent after the results were released.The good: Tesla made a $3.3 billion profit in the first three months of the year, up from $438 million a year earlier and the biggest quarterly profit since the company’s creation. Tesla sold 310,000 vehicles in the first quarter, up almost 70 percent from a year earlier.The bad: Tesla said it resumed “limited production” in Shanghai after a three-week shutdown, but “persistent” supply-chain problems and the rising cost of raw materials mean that it expects its factories to run below capacity for the rest of 2022. Despite concerns that supply-chain issues could hamper the company’s growth, Musk told analysts that his “best guess” was that Tesla would produce 1.5 million cars this year, meeting the company’s goal of 50 percent sales growth.The lithium interlude: Musk said that soaring prices for lithium, a key material in batteries, had forced the company to raise prices, potentially slowing the pace at which people switch to electric vehicles. Soaring demand for the metal has given producers 90 percent profit margins, Musk said. “Do you like minting money? Then the lithium business is for you,” Musk said. He hinted that Tesla could get more involved in the supply chain for raw materials but didn’t say whether it would expand into mining metals like lithium directly.What’s Happening With Elon Musk’s Bid for Twitter?Card 1 of 3The offer. More