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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

#581

Post by tardo99 »

propman wrote: post #384
WheelsAtLarge wrote: post #363

The book The PayPal Wars: Battles with eBay, the Media, the Mafia, and the Rest of Planet Earth, details Musk's time at Paypal and pretty much describes him as an eventual hindrance rather than a help. He was eventually ousted from the company. Peter Thiel was the one that was able to nurse the company to success. He was vital to get the company started but eventually, he was difficult to work with. Looks to me that…

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…

If I give you a 3 billion dollar investment, it's not hard to create a billion dollar company with that.

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

#582

Post by taysic »

slg wrote: post #17
NN88 wrote: post #8

SEC wants to remove him from the head of the company: https://twitter.com/kadhimshubber/status/1045407900259295233

Are there any previous examples of someone doing something similar to what Musk did and the punishments they received? I don't normally follow SEC cases, but this seems like a pretty extreme potential punishment compared to the slap on the wrist that many people were predicting.

It looks harsher when you know the person and empathize with them.

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

#583

Post by IAmGraydon »

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…

Exactly. It’s called a stop loss. A spike in the wrong direction can be very costly to shorts.

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

#585

Post by baddox »

stcredzero wrote: post #127
djsumdog wrote: post #68

Earlier quoted context omitted.

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…

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…

I don’t buy that Apple products or Apple as a company is worse off in any measurable way. I’m sure the there are some people who dislike decisions that happened after Jobs, but Apple and their products seem to be doing fine.

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

#586

Post by baddox »

rl3 wrote: post #252
SkyMarshal wrote: post #170

Earlier quoted context omitted.

I don’t think Apple products are any different without Jobs, the problem is they’re nothing new either. With Jobs you knew he loved and lived technology and was always looking for cool new things to do with it. Most of his product launches did just that and brought some excitement about possibilities. Current Apple products are meticulously, exactingly designed and built, but they’re losing the excitement and expecta…

> 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.

You’re just listing things that have been described as product failures since Jobs died. Sure. But anyone can also make such a list from when Jobs was CEO.

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

#587

Post by dayaz36 »

jonknee wrote: post #181
Cshelton wrote: post #13

I'm willing to bet the only thing that will come of this is a fine and a slap on the wrist.

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.

The SEC is not the judge. They can say whatever they want but they have to prove it in court.

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

#588

Post by johnny22 »

usaphp wrote: post #538
jacquesm wrote: post #273

Earlier quoted context omitted.

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…

being a good CEO at the beginning isn't the same as being good CEO farther down the line. That's what most people are saying on this topic. It's possible that elon is great at starting companies, but maybe not "finishing" them.

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

#589

Post by api »

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…

If Musk never happened rockets would still be expendable, the US would still lack a Shuttle replacement, and EVs would be rare or nonexistent. We would still be talking about how personal mobility is doomed when oil is depleted, if not all of modern civilization.

Prove me wrong. Who else was doing this stuff before SpaceX and Tesla? On space launch you had nothing serious except the SLS which is 70s tech. On EVs you had a few boutique and niche vehicles but nothing pushing to break into any mass market. I doubt conventional car companies would ever have done it without a law to force them or monster incentives since most of that industry is full of ICE heads who hate EVs. They are now, but that's because of Tesla. I'm worried that if Tesla fails all these other EV projects will be scaled back since the ICE and oil crowd will leap on it to push an EVs have failed narrative.

Elon seems to have fucked up with this one, but I dont think it diminishes what he has accomplished.

Normally the only way to smash a mediocre Nash equilibrium is with the power of government-- either big government spending or legislation (regulation, anti trust, etc). It's normally the only hammer big enough. I have a lot of respect for anyone in the private sector who is able to pull it off. Musk and the teams he assembled broke two. That's just insane. Hell maybe it is literally insane. Maybe he's nuts.

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

#590

Post by sokoloff »

pommed wrote: post #297
tareqak wrote: post #4

What would be the argument in his defense?

The shorts against Tesla were enormous. Millions (billions?) were put against Tesla. You can't tell me that the shorters did not invest extra money to make their short profitable. That extra money would go into PR to make Tesla look like failing company. That is not fair play either... Basically Musk gave a punch back after being bullied and stressed. Self-defense? Also the Tweet started with: "I am thinking of". Not…

> The shorts against Tesla were enormous. Millions (billions?) were put against Tesla.

It's definitely billions (about $10 billion short interest as of mid-September-[0], not including options contracts). I'm very much a small-time investor and I'm personally short well over a million dollars of $TSLA.

[0] - https://www.nasdaq.com/symbol/tsla/short-interest

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