SEC Sues Musk and Seeks Ban for His Tweets on Go-Private Deal • Hacker News Board

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

#531

Post by brisance » Fri, Sep 28, 2018, 2:14 AM UTC

browsercoin wrote: post #69

I'm perplexed how Musk could act without thinking of the consequences? Now I fear that he will be banned from SpaceX as well, when you are convicted of fraud by SEC, it will impact your duties at other companies. It takes decades to build a reputation but it can be destroyed overnight with a single tweet.

Haven’t you been following the news at all? It’s called “rich white male privilege”. The person occupying the White House exemplifies it. Inauguration day was tough for many parents; lots of people didn’t know how to explain to their kids how such a person could get to the highest office in the land.

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

#532

Post by [deleted] » Fri, Sep 28, 2018, 2:14 AM UTC

dirkgently wrote: post #467

chollida1 wrote: post #6

This comment I made a few weeks ago is coming alot closer to the truth than I would have expected. I hope for Space X and Tesla's sake that the reports of a directory and Executive ban don't come true. https://news.ycombinator.com/item?id=18016250#18016292 SpaceX is doing well, Tesla has pulled itself back from the brink and may actually become a profitable car company. All Elon had to do was keep his head down and n…

> I hope for Space X and Tesla's sake that the reports of a directory and Executive ban don't come true. Why? Because Elon is a special snowflake and deserves a different treatment than other white-collar criminals?

[deleted]

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

#533

Post by memmcgee » Fri, Sep 28, 2018, 2:15 AM UTC

JoshCole wrote: post #530

brisance wrote: post #510

Earlier quoted context omitted.

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

Yes, and they're not alone in that. Many car companies are above the minimum required for five stars.

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

#534

Post by memmcgee » Fri, Sep 28, 2018, 2:16 AM UTC

monocasa wrote: post #269

Rooster61 wrote: post #243

Earlier quoted context omitted.

Musk wasn't a founding member of Tesla. In fact, not all of the founders of Tesla were big fans of Musk's hire. Your point is valid though, and I do think someone could go in there and take over his job effectively. That doesn't mean there won't be a period of relative instability while that transition takes place.

Everywhere I've seen says that he's a co-founder of Tesla.

That's because his PR team has pushed that narrative for years. He wasn't a founder however.

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

#535

Post by propman » Fri, Sep 28, 2018, 2:17 AM UTC

hooloovoo_zoo wrote: post #498

propman wrote: post #384

Earlier quoted context omitted.

I can only think of Elon as the only person to create THREE multi billion dollar companies in wildly different industries. Elon is a fantastic CEO AND visionary. I personally know people who could be making double specifically work at spacex because they believe in his vision. Elon is able to get Supreme talent and productivity for pennies on the dollar. He’s able to market Tesla and spaceX to billions with such a po…

To be fair, Musk created neither Tesla nor Paypal.

Well he turned Tesla into a multi billion dollar behemoth in a short time and revolutionized the electric car industry. He didn’t create Tesla but he did “create” Tesla the billion dollar company.

PayPal is more complicated agreed. Elon’s portion of it might be a billion due to inflation? But regardless he set the basis for it.

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

#536

Post by sokoloff » Fri, Sep 28, 2018, 2:17 AM UTC

wallace_f wrote: post #485

tptacek wrote: post #479

Earlier quoted context omitted.

Amazingly, Musk apparently had reached a settlement with the SEC over this, then blew it up : https://twitter.com/tomgara/status/1045472592595996672 I don't understand people who defend him as head of a public company.

Perhaps some of what makes him capable of making these mistakes is also part of why he has multiple revolutionary companies.

Being unconstrained by reality? You might actually be onto something there; I know a few people who are similarly unconstrained and they end up bringing just the right mix of crazy and sweat together to make something novel. It also has a serious downside in this particular case, however.

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

#537

Post by propman » Fri, Sep 28, 2018, 2:18 AM UTC

toozap wrote: post #397

propman wrote: post #384

Earlier quoted context omitted.

I can only think of Elon as the only person to create THREE multi billion dollar companies in wildly different industries. Elon is a fantastic CEO AND visionary. I personally know people who could be making double specifically work at spacex because they believe in his vision. Elon is able to get Supreme talent and productivity for pennies on the dollar. He’s able to market Tesla and spaceX to billions with such a po…

Wayne Huizenga - Blockbuster, AutoNation, Waste Management.

Thanks, just read his Wikipedia page. Can’t believe I didn’t know he was

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

#538

Post by usaphp » Fri, Sep 28, 2018, 2:18 AM UTC

jacquesm wrote: post #273

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.

I was with you right up to here: > Musk might do better focusing on Space-X. Maybe. As long as he does not claim the CEO slot.

So the guy literally built a fucking reusable rocket company, most popular payment service, an electric car company that now all of the huge car monopolies are trying to mimic and replicate and still can’t catch, and he did all of that during 20 years, 99.9% of people sit on a couch for 20 years without doing anything. But experts on hacker news still think he is a terrible ceo. I am pretty sure most of those experts achieved nothing in their life and only like to judge other people...

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

#539

Post by anon_spx » Fri, Sep 28, 2018, 2:19 AM UTC

djsumdog wrote: post #68

chollida1 wrote: post #6

This comment I made a few weeks ago is coming alot closer to the truth than I would have expected. I hope for Space X and Tesla's sake that the reports of a directory and Executive ban don't come true. https://news.ycombinator.com/item?id=18016250#18016292 SpaceX is doing well, Tesla has pulled itself back from the brink and may actually become a profitable car company. All Elon had to do was keep his head down and n…

I'd hope the company itself would be fine. I really hate this idea of the grand visionary. A good friend of mine who is a mechanical engineer despises Musk. I listened to a bit of his Joe Regan interview and when Regan asked him how he has the time to do all of the things he does, there are smoke jokes about him being an alien, but not once did he say, "Well I have an amazing team of engineers" and credit all the tho…

I work for the guy, and I don't think anyone who has worked closely with him would believe that SpaceX or Tesla would be anywhere near what they are without him. He is an extraordinary leader who is deeply involved with all of the engineering decisions that happen at both companies. You'd be very surprised at how much impact he has on fairly low level decisions.

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

#540

Post by pvelagal » Fri, Sep 28, 2018, 2:22 AM UTC

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.

IMHO, If Elon musk were a chinese entrepreneur, the Govt would be more than happy to fund him and allow him to focus on what he is good at, innovate the hell out!!! SEC should answer the American people first on why it failed to hold any bank exec accountable for the worst financial crisis of our time that brought the world to an economic collapse.. double standards ?? https://thehill.com/blogs/pundits-blog/finance/309544-why-ha...