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

#551

Post by pvelagal » Fri, Sep 28, 2018, 2:37 AM UTC

blintz wrote: post #546

pvelagal wrote: post #540

Earlier quoted context omitted.

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/3…

Surely the law should apply no matter how “innovative” your company is. Yes, the SEC should also be held responsible for its failure to go after banks, but this is not mutually exclusive with action against Tesla.

Ok , so you agree that in theory its the same, but in practice it isnt ? Bcoz i havent seen/read/heard anything so far even after a decade that any action is taken or any one under investigation for the 2008 crisis... where as one tweet a few days ago from Elon is enough time to go after him !! Sounds very selective !!! Also, IMHO, just as US govt announced auto bailout in 2008, they should announce one more bail out not just for Tesla but all US auto companies working on next gen innovative tech especially focussed on creating US jobs as the recent tariffs (from all sides) can have -ve impact on US jobs (those building auto plants outside USA) /US consumers. SEC can leave Elon alone with a warning /small fine. They shouldnt be dictating who should be CEO or who shouldnt. Elon is a job creator !!

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

#552

Post by antt » Fri, Sep 28, 2018, 2:38 AM UTC

MBCook wrote: post #524

Reelin wrote: post #422

Earlier quoted context omitted.

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.

Who would have though #yolo #420 #blazeit is not a good way to lead a company?

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

#553

Post by wpietri » Fri, Sep 28, 2018, 2:41 AM UTC

threeseed wrote: post #172

stcredzero wrote: post #127

Earlier quoted context omitted.

Are Apple products different now that Jobs are gone? Yes. Jobs as local despot acted as a curb to bad decisions. Jobs had a vision which acted as a countervailing force to keep Apple from being completely sucked into being a money grubbing luxury goods company. the core people that make and design all their overpriced, planned obsolescence devices are still there, often uncredited, while everyone else likes to focus…

This is just revisionist history and completely wrong. Steve Jobs pretty much set Apple on the premium goods track when he returned. The iMac, iPod, iPad, iPhone were all developed under his watch and all were premium priced. Apple has pushed the margins higher but that's only because the market can absorb it. Computing is more central to people's lives and they are willing to pay a premium for a good experience.

And I would add that although some people see Apple's recent lack of innovation as proof that you need an asshole dictator at the top, I take it as proof that putting abusive people on top harms those under them, preventing people from really owning what they're doing or learning to innovate collaboratively.

It's basically "après moi, le déluge" as self-fulfilling prophecy. Real leaders create something that lasts beyond their deaths. Contrast this to George Washington, who could have ended up king but worked hard to make America about institutions, not men. Or, in business we can look at places like Toyota, which have remarkable cultural consistency and continuing innovation across the decades.

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

#554

Post by [deleted] » Fri, Sep 28, 2018, 2:42 AM UTC

pvelagal wrote: post #520

ajmurmann wrote: post #496

Earlier quoted context omitted.

I love the work that Musk has done. Everyone has to play by the same rules though. We cannot bend the law because someone has otherwise done amazing work.

So how many financial execs got punished for creating the 2008 financial crisis, the worst in our lifetimes (hopefully) , which brought the world to the brink ? https://thehill.com/blogs/pundits-blog/finance/309544-why-ha...

[deleted]

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

#555

Post by MentallyRetired » Fri, Sep 28, 2018, 2:42 AM UTC

Never in history has a nationalist political party sought so hard to undermine a domestic company... jesus.

You're telling me the president can make tweets threatening nuclear war and face no retribution but a CEO can make a joke in poor taste and lose everything?

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

#556

Post by rst » Fri, Sep 28, 2018, 2:42 AM UTC

pvelagal wrote: post #540

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/3…

China's had a round over the last few years of prosecutions of big shots, including high-level officers of successful companies, for financial irregularities. See, e.g.,

https://www.straitstimes.com/asia/east-asia/chinese-tycoons-...

There are complicating factors in figuring out whether any particular person would be a target of this sort of prosecution (in some cases, the real issue is likely failure to toe the Party line) -- but the idea that the Chinese government turns a blind eye toward this sort of thing generally is, at the very least, oversimplified and out of date.

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

#557

Post by sokoloff » Fri, Sep 28, 2018, 2:42 AM UTC

kire2345 wrote: post #282

jonknee wrote: post #181

Earlier quoted context omitted.

Why? He's a huge liability to the company every day he remains with this hanging over his head. The SEC directly says he "violated, and unless restrained and enjoined will continue to violate, Section 10(b) of the Exchange Act". Other than a fine, they're pushing for him to be barred from serving as an officer of a public company.

Could Tesla move to another country and get listed there instead, so he could stay CEO?

Every fund that tracks the Nasdaq 100 (which includes $TSLA) would sell out of $TSLA when it was de-listed from Nasdaq (and therefore form the Nasdaq 100).

There's less financial wreckage created from replacing the CEO, IMO.

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

#558

Post by imron » Fri, Sep 28, 2018, 2:43 AM UTC

asn0 wrote: post #355

threeseed wrote: post #172

Earlier quoted context omitted.

This is just revisionist history and completely wrong. Steve Jobs pretty much set Apple on the premium goods track when he returned. The iMac, iPod, iPad, iPhone were all developed under his watch and all were premium priced. Apple has pushed the margins higher but that's only because the market can absorb it. Computing is more central to people's lives and they are willing to pay a premium for a good experience.

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…

This has been true for at least as long as I've been buying apple laptops (over a decade).

If you want something with a similar form factor (light and thin) then anything with similar hardware specs from another company has always been around the same price, or more expensive.

I think the perception of over priced laptops is misplaced because people look at base specs, but ignore form factor. And, yes you could argue that you don't need something so thin and light, and maybe that's true for some people, but if it's a feature you want then apple laptops are competitively priced.

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

#559

Post by woah » Fri, Sep 28, 2018, 2:47 AM UTC

MBCook wrote: post #524

Reelin wrote: post #422

Earlier quoted context omitted.

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.

It obviously is. Countless billions of dollars wasted and millions deprived of their freedom for what? Prohibition will go down in history as one of the biggest mistakes of our time.

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

#560

Post by jhall1468 » Fri, Sep 28, 2018, 2:49 AM UTC

monochromatic wrote: post #441

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.

How do you figure it’s open and shut?

It's not. They have to prove intent. Musk didn't make any transactions while the stock was on the rise, so intent (which is hard to prove) and benefit (which can't be proven) are both a huge problem with this case. He deserves the lawsuit, but this is just to force his hand on a deal.