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SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

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Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#61

Post by joeyspn »

slouch wrote: post #23
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

How about, "helped every piece of news break faster." I knew about every trade during the run up to today's 3pm NHL trade deadline many minutes and sometimes hours before the stories appeared on nhl.com or sportsnet, etc.

^ This

I recently read a group of high profile journalists (mainstream media) stating that "Twitter is where we get the news from"...

Twitter has become a sort of real-time news agency. If you follow the correct profiles in your niche/sector not even Reuters can beat the speed of 95% of the events. If there's a newsworthy event, chances are it's first on twitter than in any other media outlet.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#62

Post by api »

spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

Twitter is where the rich and powerful go to make complete fools of themselves.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#63

Post by mixmastamyk »

mLuby wrote: post #25
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

Twitter's value is providing a direct connection from people of note to the masses, bypassing newspaper/TV/radio gatekeepers of yesteryear. You could argue whether that itself is good for society, but it is clear from Twitter's usage that people find it valuable.

It is useful for self promoters and day traders, others not so much.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#64

Post by blhack »

My knowledge of how publicly traded companies work is very limited, but:

Was what he said really that bad? He said:

>Tesla made 0 cars in 2011, but will make around 500k in 2019

And then later corrected himself with:

>Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k.

This seems like a pretty simple mistake to have made, and I have a tough time assigning malice to it.

I like Elon. A lot. The news machine's constant thirst for scandal surrounding him is a cancer on our society, and it worries me that it then effects people who have the ability to enact their will with force: the judicial system.

edit: and it honestly just seems like an honest mistake. He likely is constantly thinking of ways to improve the weekly output of Tesla, and then expanding that in his head to yearly production numbers.

>Tesla made 0 cars in 2011, but will make around [/be at the correct pace to be making] 500k [a year] in 2019.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#65

Post by CPLX »

berberous wrote: post #44
minimaxir wrote: post #4

SEC filing: https://www.documentcloud.org/documents/5750664-Show-Cause.h...

The last two pages (pp. 11 and 12) are a great example of why you shouldn't be an arrogant dumbass towards the government. The SEC quotes his 60 minutes interview with Leslie Stahl where he says he doesn't respect the SEC. While I think the SEC has a legitimate grievance here, I'm also guessing this is partly vindictive. Play stupid games... And I say all that as a big supporter of Elon generally.

It goes to intent.

Typically the law tries to at least somewhat take into account intent, like if someone omits something from a filing by accident or in a deliberate attempt to conceal, for example.

Pointing out his statements demonstrates that he's aware of the rules and is choosing not to respect them. That's usually a sign that someone should be on the higher end of the typical punishment range for a given act.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#66

Post by fhbdukfrh »

Waterluvian wrote: post #22
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

...Can a corporation demand an employee waive their right to speech as a private citizen? I think even if so, that's a terrible idea.

When he speaks with insider information from the company to an audience that will influence his personal position in said organization, he's not a private citizen.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#67

Post by cjarrett »

blhack wrote: post #64

My knowledge of how publicly traded companies work is very limited, but: Was what he said really that bad? He said: >Tesla made 0 cars in 2011, but will make around 500k in 2019 And then later corrected himself with: >Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k. This seems like a pretty simple mistake to have made,…

It's a 'simple mistake' in his long line of ignoring well established SEC rules.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#68

Post by blhack »

mLuby wrote: post #25
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

Twitter's value is providing a direct connection from people of note to the masses, bypassing newspaper/TV/radio gatekeepers of yesteryear. You could argue whether that itself is good for society, but it is clear from Twitter's usage that people find it valuable.

There are lots of ways of accomplishing that without the things that causes twitter to be particularly toxic.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#69

Post by minimaxir »

blhack wrote: post #64

My knowledge of how publicly traded companies work is very limited, but: Was what he said really that bad? He said: >Tesla made 0 cars in 2011, but will make around 500k in 2019 And then later corrected himself with: >Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k. This seems like a pretty simple mistake to have made,…

> This seems like a pretty simple mistake to have made

Elon Musk is the head of a public corporation, not a random Twitter user.

Re: SEC Asks Manhattan Federal Court to Hold Elon Musk in Contempt

#70

Post by c3534l »

Waterluvian wrote: post #22
spectramax wrote: post #3

At this point, the board of directors should just demand deletion of his Twitter account. I admire Elon for his vision, and actually also admire his radical style despite of its unpopular image - I watched the video where he smoked pot on the radio show. It was a really amazing conversation about future of humanity. He just needs to stop tweeting. You may say it’s fixing the symptom, but here if we take Twitter away,…

...Can a corporation demand an employee waive their right to speech as a private citizen? I think even if so, that's a terrible idea.

Of course they can. Not only can you just fire your CEO if he says something racist, sexist, or generally embarrassing, but there are non-disclosure agreements (you promise not to tell anyone what happens in the last episode of Game of Thrones), non-disparagement agreements, codes of conduct that entail things you can say. Conan O'Brien had to agree not to appear on television, and not to say anything negative about NBC as part of his leaving the Tonight Show. Nike can tell its employees they're not allowed to wear Puma clothing.
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