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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

#521

Post by MBCook »

agumonkey wrote: post #339
Animats wrote: post #246

He definitely lost it. And it's going to cost him. This is an open and shut case against Musk. He definitely sent out that tweet. Yes, maybe just not enough sleep and too many drugs. Not a good excuse. Tesla might do better with a new CEO. They're past the vision stage. Tesla's problems today are all those of running a big auto plant. Musk might do better focusing on Space-X.

Of all weird things he did, that tweet felt the less induced by mean emotions (unlike the issues with soccer team rescue). I believe he was angry at people using the system to see someone doing his best to make a good thing. Sad.

It’s entirely possible the tweet was only designed to screw over short sellers.

Doesn’t matter, it’s illegal for someone in his position to try and do that through a tweet that’s on an account that’s registered with the SEC.

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

#522

Post by fosco »

Barrin92 wrote: post #256
Rooster61 wrote: post #192

I very much hate to see this. Not for Musk's sake, as he has been pretty much asking for something like this to happen. I hate it because of the damage it will do to Tesla and SpaceX when he's likely banned from leading a company. Tesla's not exactly lighting the world on fire in terms of potential long term success, but SpaceX really has been doing well in recent years. The fact that they are already refurbishing so…

>I hate it because of the damage it will do to Tesla The day Tesla hires someone who can actually run a car company will be a good day for Tesla.

Tesla is not without challenges, but I am very happy with the products they have delivered thus far, and if I could afford them I would have a model x and s.

I see this sentiment a lot but the reality is not only are the cars that they have delivered good but I think their safety ratings are top notch. I am not sure I want a 'regular car company ceo' I do not think they would have delivered in the way Tesla as a company has.

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

#524

Post by MBCook »

Reelin wrote: post #422
cma wrote: post #398

Earlier quoted context omitted.

SpaceX could be affected by him losing his security clearance for illegal drug use though.

So US interests could be harmed by damage to an important US company, itself entirely due to backwards US drug policies? I don't think Musk is the problem in that case...

Yes, because he showed such amazing judgment. It’s obviously the law that’s messed up.

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

#525

Post by darpa_escapee »

Svoka wrote: post #481
cma wrote: post #398

Earlier quoted context omitted.

SpaceX could be affected by him losing his security clearance for illegal drug use though.

Illegal drug use?

Smoking marijuana and, allegedly, the acid that prompted the tweets in the SEC suit.

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

#526

Post by MBCook »

fosco wrote: post #522
Barrin92 wrote: post #256

Earlier quoted context omitted.

>I hate it because of the damage it will do to Tesla The day Tesla hires someone who can actually run a car company will be a good day for Tesla.

Tesla is not without challenges, but I am very happy with the products they have delivered thus far, and if I could afford them I would have a model x and s. I see this sentiment a lot but the reality is not only are the cars that they have delivered good but I think their safety ratings are top notch. I am not sure I want a 'regular car company ceo' I do not think they would have delivered in the way Tesla as a comp…

From all the stories in the last year it seems like if you took a regular car company CEO they would’ve been delivering faster with better build quality. Perhaps service times wouldn’t be so atrocious either.

Or rain wouldn’t cause bumpers to fall off.

Tesla’s tech is pretty top-notch (excluding auto pilot which I have doubts about).

I think their ability to build cars is questionable.

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

#527

Post by voltagex_ »

ac29 wrote: post #483
asn0 wrote: post #355

Earlier quoted context omitted.

I've started to think Apple is more competitive on laptops than it looks from the price. Every time I've priced out a laptop with similar configuration to my MBP (including a good-quality display, NvME SSD, good battery life), it always ends up costing about the same as an MBP. And then Apple's customer service definitely tips in their favor (I've been spoiled by fast, convenient, competent repair service at the Appl…

Out of curiosity, I specc'd out a Thinkpad T480 as close as I could to the base model MBP, and they are reasonably similar in price (the Thinkpad is $2100 to the MBP's $2400). Thing is, if you drop a few upgrades, such as dropping the CPU speed by a few percent, dropping the dGPU, going to a 1080P screen, and using a SATA instead of NVME drive, you're down to $1400 for largely minor decreases in performance and capab…

How heavy are both of those laptops, though?

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

#528

Post by brisance »

anonytrary wrote: post #459
dabockster wrote: post #405

Earlier quoted context omitted.

In the US, you're not supposed to say anything publicly that can manipulate the stock price. For a person in Elon Musk's position, it is incredibly easy to drum up hype about a stock from a public media source (in this case, Twitter) then secretly sell off stock at the higher price causing it to dip further than it was at before. This is called pump and dumping and is very illegal in the United States (read up on The…

> In the US, you're not supposed to say anything publicly that can manipulate the stock price Not quite. You can't intentionally say things for the purpose of manipulating the price, you can still say things if they affect the price -- it is impossible not to, since every little thing a CEO does affects the price to some extent (econophysics?). The lawsuit would have to prove that Musk tweeted with the intention of m…

Did you forget that this is only the SEC action and that the DOJ is also investigating? The DOJ has subpoena power… they can easily build a case by gathering witnesses, starting with the board of directors.

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

#529

Post by hdieirbeopwhd »

maccam94 wrote: post #466
dabockster wrote: post #412

Earlier quoted context omitted.

> 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.

I don't think personal fortune is anywhere near as significant of a motivation for Musk as the public image of his companies or their success. I have no doubt that he let negative headlines get under his skin, and that he wanted to fight back.

If he was angered by the haters, then - while tanking a couple near term shorts would serve that goal - the best most final and bold way to get back at them would be to take the company private (thereby depriving them of the opportunity to short) and succeeding (thus proving them wrong and depriving them of the opportunity to later bandwagon). Ie he meant what he said about his intentions & funding.

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

#530

Post by JoshCole »

brisance wrote: post #510
illumin8 wrote: post #477

Earlier quoted context omitted.

Tesla Model 3 is the most efficient and best quality electric vehicle I've seen. I've owned one for over 6 months now, and early on it was glitchy and needed a lot of software updates, but for the last 3 months it has been extremely rock solid stable, and I'm pretty certain this car will have great longevity. Not to mention, perfect 5 star ratings in safety from NHTSA. First, I don't like Autosteer (autopilot), as I…

Lots of other cars also have 5 star NCAP ratings. I’m willing to bet at any time a Subaru will be in that list. Adaptive cruise control and lane tracking are also not exclusive to Tesla.

Tesla safety record stats are better than the minimum required score for five stars. You can read an example of their pride/righteousness/aspiration in this truth/fact/reality here https://www.tesla.com/blog/tesla-model-s-achieves-best-safet... or here https://twitter.com/elonmusk/status/1042827334758260736
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