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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

#861
post #669

Earlier quoted context omitted.

> 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?

How about because nobody should be able to go from perfectly fine to having ruined their life* in under 30 seconds. you have one dumb thought, open twitter on your phone, push tweet, and it's over. That's not an ability people should have. We are impulsive and often dumb.

Elon Musk is being sued for market manipulation.

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

#863

Earlier quoted context omitted.

At this point his biggest goal should be avoiding prison, which with the DOJ investigation and the sheer stupidity of his actions is very much on the table.

Billionaires don't go to jail.

Billionaires don't go to jail.

How many billionaires publically break the law in the way that Musk did, and put themselves in the position to risk jail? How many billionaires are there to begin with?

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

#864
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…

The longs who bought at the sub-420 peak can also sue.

Assuming they don't understand "am considering".

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

#865
post #591

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…

>>A good friend of mine who is a mechanical engineer despises Musk. A lot of people despise Musk. Its because the society in general hates these kind of successful non-conformist. No one likes to see a hugely successful anti-pattern to their whole life.

> Its because the society in general hates these kind of successful non-conformist. No one likes to see a hugely successful anti-pattern to their whole life.

This is just wrong. There are plenty of reasons to dislike Musk that have nothing to do with him being a "successful noncomforist", whatever that means.

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

#866

Earlier quoted context omitted.

> He was trying to bankrupt the short-sellers, and he was doing it by lying I'm out of the loop - can you point me to some proof of this?

The actual complaint includes a few tweets by Musk warning shorts to get out within a specific timeframe.

So they were warned of possible actions that might cost them, like going private.

Damn if you do, damn if you don't.

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

#867
post #279

Earlier quoted context omitted.

Tesla made it easy for them. From the SEC filing: > 13. On November 5, 2013, Tesla publicly filed a Form 8-K with the Commission stating that it intended to use Musk’s Twitter account as a means of announcing material information to the public about Tesla and its products and services and has encouraged investors to review the information about Tesla published by Musk via his Twitter account.

>Musk’s Twitter account as a means of announcing material information to the public about Tesla and its products and services I do not understand why he did not hire a PR firm to run his Twitter given the high stakes of each of his tweets. This is really bad judgement on his part.

I had the exact same thought. Probably a lot of ego and hubris was involved.

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

#869

Earlier quoted context omitted.

I posted a source. Can you?

You have no source. All you did is claim that Elon read some books. Elon Musk is not an engineer and does not do any engineering at Tesla.

He posted a source. You are a liar.

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

#870

Earlier quoted context omitted.

Tesla is a marketing-driven company.

Tesla is a product company, they do little, if any, marketing. Find me a Tesla owner that doesn't love their car. Tesla is an engineering led product company first, both for the good of the environment and for making products that people love. Not many could have built what Elon Musk built, if any others today at the time and survive the Great Recession or get people excited about the product. Tesla has that exciteme…

Yes, but is it in the national interests of China for the United States to be the leader in the electrification of transport?

He is very likely to persist in claiming both that Elon Musk is not at all an capable of engineering and that Tesla is a marketing company. There is a technique called firehosing where you just keep spewing lies as an influence strategy.

You can look at his other post in this thread to see the degree to which he is willing to have faithful discourse.

I would argue that it is in the interest of China. Everyone is going to have flooding coast lines. The short term solution to curbing that issue and others is fast electrification. China will find a market for its own vehicles, because every electric vehicle is going to find a market. So the United States pulling its own weight in this matter is just helping to get the task done more quickly. Meanwhile, in the long-term, present day technology is going to be eclipsed. It will be easy enough to figure out how the better batteries are made and produce them. Economies of scale can then allow winning on price. Meanwhile, the digital record will preserve the manipulation attempts, making them more obvious in retrospect. This isn't good for diplomatic relations with the many nations who will be damaged by floods. So taking actions which could slow electrification could lead to unanticipated consequences. Meanwhile, advocating for more rapid acceleration won't even harm diplomatic relations with the oil producing countries: many of them are leading the charge in adopting green technology, they understand the dangers. There is good will to be gained in helping the world to electrify its transportation.

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