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SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

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Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#411
post #373

Earlier quoted context omitted.

If I, a not-inexperienced investor, briefly wondered if I should by a few more lots of TSLA based on the tweet, it is not unfathomable that someone actually clicked the “buy” button somewhere near the peak. In short, yeah, it would be trivial to demonstrate damage. Someone was buying those pricey shares before the drop. EDIT: down $31 in after hours, hell, I’m thinking about suing. :-P

Same. I thought there was no way he say such a stupid thing as "funding secured" without haven't it locked down precisely because I thought the SEC would easily come after him if he lied about it. Fortunately, my brother talked me out of it but I was seriously considering buying some.

because I thought the SEC would easily come after him if he lied about it

Which is exactly it. Folks here and elsewhere refer to it as "...obviously a joke". No, it's not so obvious, because if you joke about such things the SEC will nail your ass to the wall. And hence my consideration of purchase. Were the SEC not to follow through, well, what are they going to say when the next joker says, "j/k"?

And so, apologists and Musk themselves are about to find out that they're fucking serious when they tell you not to make bomb jokes in the airport security line. And when your antics take 10% off your share price in one day, Musk'll start to lose some fans even, because this shareholder sure isn't the Musk fan he once was.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#412
post #406

He was trying to bankrupt the short-sellers, and he was doing it by lying: the price would soar, their options would be called, and they'd lose their shirts, all for a lie. When you're head of a public company, that's a crime. Not only will the SEC come after him, but the short sellers can probably sue him too. I have huge respect for his engineering ability, but he has messed up badly. He's overextended and it seems…

> He was trying to bankrupt the short-sellers

Or he was trying to divest at artificially inflated prices caused by the hype. Both of these hypotheses are illegal under US stock law.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#413

Earlier quoted context omitted.

> Tesla has not delivered, i.e. it has not become profitable enough to guarantee success in the future And based on that track record, in addition to violating security laws, you conclude that Musk is essential to the business? Strange.

I think his point is that when you strip away the personality cult, Tesla is just an unprofitable car maker with crushing debts and trouble meeting goals.

Yeah, this whole “Tesla will fail if they fire Musk” strikes me as kind of pointless, because Tesla will likely fail either way. Best case scenario is M&A, which Musk is essentially too proud to do, which means not firing him means committing to the company utterly failing.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#414
It is really sad to see this happening to Elon. He is one the handful of visionaries who wants to change the world for the better. He could have easily choosen to sell our private information for adds but he went for reducing our dependence on fossil fuels. And then he sends an idiotic tweet in the middle of the day. Such a shame!!!

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#415

Earlier quoted context omitted.

Apple produces better products than google and microsoft, get over it. The market decided.

Apple produces better products than google and microsoft, get over it. It sounds like you're the one who needs to get over something. For the record, I've been an iPhone user since the 2nd iPhone. I'm typing this on a Macbook Pro, and I bought the 1st unibody Macbook. I've developed iPhone apps and I've been an Apple user since 1980. Yes, Apple produces better products for now. However, as the years pass, those produ…

HN can take any comment thread and turn it into a discussion about Apple. It's time to admit you have a problem.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#416

It is really sad to see this happening to Elon. He is one the handful of visionaries who wants to change the world for the better. He could have easily choosen to sell our private information for adds but he went for reducing our dependence on fossil fuels. And then he sends an idiotic tweet in the middle of the day. Such a shame!!!

Not just one idiotic tweet.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#417
post #252

Earlier quoted context omitted.

> Current Apple products are meticulously, exactingly designed and built, ... I disagree. Look at the MBP keyboard issues, or the declining quality of OS X. Under Jobs that shit wouldn't fly. Other roles aside, one of Jobs' most important functions was that of acting as a sanity check to ensure that the constiuent parts of any given product came together as a cohesive whole.

Again with the revisionist history. Did you ever use the first 3 versions of OSX ? Because I did. And the quality was pretty unacceptable compared to OS9 or Windows. On the hardware side how long did Apple stick with the coffee puck mouse. Or how about the iPhone 1 never even having 3G or MMS or how about all of the issues with the GPU. But yet Steve Jobs still shipped it all. Why ? Because his slogan was always "rea…

Mac OS 9 didn’t even have memory protection, what are you talking about? The problem with early versions of Mac OS X were feature completeness, software support, and performance, not quality.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#418
post #409

What a joke, there are plenty of scumbag and criminal leaders of corporations and this is the guy who doesn't walk. It'll be a sad day for the world if this guy goes to jail.

It's like this clip from the 1990s Batman cartoon regarding the Joker's view on the IRS.

https://www.youtube.com/watch?v=G56VgsLfKY4

Securities crime is almost always prosecuted in the US because of how much of our economy depends on it being free of outside manipulation. This is why all stock trades are tracked so intensely. A crook may be able to systemically deprive people of health insurance and get away with it, but he/she will almost certainly go to prison if caught manipulating the stock market for personal gain.

Re: SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal

#419

Earlier quoted context omitted.

Tesla completely changed the public perception of electric cars, from slow eco-friendly compacts to high-performance sports cars. Without Tesla I doubt that Mercedes would be spending $12 billion on electric cars, or Porsche would be releasing an electric car next year with a 0-60 time of 3.5 seconds and a nationwide fast charging network in the U.S. Tesla proved that it's possible and that there's demand for it. Spa…

Well, Jeff Bezos with Blue Origin is so far behind that they haven't launched anything to the Low Earth Orbit yet, and as far as I know they don't have plans to launch to LEO for the next few years. So wrg to reusable launch vehicles, so far SpaceX is the only game in town. OTOH, Jeff Bezos has more money and can speed things up if he wants.

Sure, I'm just saying that without Musk we'd still get reusable launch, just a few years later. Blue Origin is definitely behind but they've been focusing on advanced engines, and just licensed one to ULA, which is flying it in 2020. And of course BO is planning to fly suborbital passengers next year. Suborbital is way easier the LEO, but flying passengers at all is something SpaceX hasn't gotten to yet.

I'm a huge SpaceX fan and until recently I kinda scoffed at Blue Origin, but after seeing more about it I was more impressed. (On the other hand, the New Glenn is only first-stage reusable, so they might need to get that flying well before the BFR is ready.)

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