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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

#271

Post by Dylan16807 »

mamon wrote: post #263
kevinpet wrote: post #248

Earlier quoted context omitted.

Not if they are already known.

Original statement from the annual report was "Barring unexpected challenges with Gigafactory Shanghai, we are targeting annualized Model 3 output in excess of 500,000 units sometime between Q4 of 2019 and Q2 of 2020." So saying "we'll produce 500k cars in 2019" is a lot of new information: - it's now definitely 2019, not Q2 2020 - it's 500k total, not just "annualized output" - risk of "unexpected challeges" in Shan…

And do you think that's because he got such significant new information in the two weeks since the report, or because he summarized badly?

By itself it looks like new information. But once you consider it's a typical post on twitter, it's quite plausible that it's a botched quotation.

The agreement pertains to posts that "contain, or reasonably could contain, material information". Sounds like it needs [a likelihood of] actual material information to count.

(This is all assuming that "material information" is info that's not already widely publicly distributed. In other words I am assuming that a tweet of "Tesla makes cars." would not violate the agreement.)

(Also, none of this precludes him getting in trouble for a misleading tweet, entirely separately from whether he violated this agreement.)

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

#273

Post by staticautomatic »

desdiv wrote: post #261
staticautomatic wrote: post #252

Earlier quoted context omitted.

Where can I read more about this?

Tesla's filed a SEC form 8-K[0] on 2013-11-05 that elevated both Musk’s and Tesla’s Twitter accounts to Disclosure Channels: >Tesla Disclosure Channels To Disseminate Information >Tesla investors and others should note that we announce material information to the public about our company, products and services and other issues through a variety of means, including Tesla’s website, press releases, SEC filings, blogs a…

Thanks. In light of this, Musk deserves whatever's coming from the SEC.

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

#274

Post by darkpuma »

kevinpet wrote: post #248
darkpuma wrote: post #215

Earlier quoted context omitted.

Claims about production numbers are 'information'.

Not if they are already known.

It wasn't "already known" because it wasn't true. Otherwise a correction wouldn't have been given hours later.

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

#275

Post by darkpuma »

jesssse wrote: post #229
EGreg wrote: post #216

Earlier quoted context omitted.

Why follow reporters instead of subjects they report on, collaboratively edited by many people?

Because your suggestion is theoretical while Twitter exists today.

Uh, his suggestion is a newpaper, magazine or other forms of publications these journalists work for. Except if you subscribe to the publication instead of the journalist, you get the benefit of the publication's editors.

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

#276

Post by notacoward »

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,…

As with most social media, what you get out of Twitter is largely a function of who you follow. Using it as a "direct connection from people of note" is using it exactly wrong IMO. That makes it just another megaphone for advertisers, politicians, and entertainers. Personally I find it much better to follow people whose ideas and perspective I already find valuable. Some I know IRL. Some I know from their work, or from blogs/forums including this one. Some I was "introduced to" by these others, in the sense of repeatedly seeing retweets or responses and finding them valuable.

I can get the news a bazillion different ways. I don't need Twitter for that. But I also enjoy seeing the reaction from the various communities of which I'm a part, from work to the ski club to the people I follow on Twitter or Facebook. Social media is much better when it's social, not broadcast.

Am I in danger of creating my own little bubble this way? Sure, as has always been the case with RL associations as well, and the remedy is the same as well - learn critical thinking, don't rely on any one of them for your information, etc. And even if each of my social-media "avatars" is in a bubble at least it's my bubble, the result of my own conscious curation and not someone else's idea of what bubble I should be stuffed into.

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

#277

Post by darkpuma »

Aeolun wrote: post #155
rchaud wrote: post #123

Earlier quoted context omitted.

Are you serious? Literally no other major CEO has ever needed something like this because they can exercise the barest minimum of self-discipline. Most actually have a built in "STFU button" when it comes to making financial projections on Twitter. I thought Musk spent 120 hrs/wk working and sleeping in the factory, why would he need to be tweeting about production numbers that have yet to be hit?

Excitement?

Drug abuse.

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

#279

Post by specialist »

eeeeeeeeeeeee wrote: post #257
mLuby wrote: post #25

Earlier quoted context omitted.

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.

Musk could accomplish exactly what you’re saying on a blog (just as Bezos did on Medium recently), or through a PR release written or approved by him. There are numerous ways he could communicate more effectively to the public without mainstream media filtering. Why do we act like Twitter is the only way to do this? Twitter only encourages misunderstanding and posts without thought. The character limit is a big drive…

"Twitter only encourages misunderstanding and posts without thought."

I recently heard this described as removing context. Which made me facepalm. Obvious, right? (Sorry, I shoulda bookmarked it.)

FWIW, I think every public figure should hire someone to manage their social media presence. As in, doesn't a CEO have more important things to do?

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

#280

Post by sokoloff »

cmroanirgo wrote: post #247
joeyspn wrote: post #61

Earlier quoted context omitted.

^ 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.

> high profile journalists (mainstream media) stating that "Twitter is where we get the news from"... Wow. This is unbelievably scary. Imho news should be curated & not first to the wires. News should involve individual fact checking and less web of trust. I understand how we consumers might want to listen to a journalist's feed, but journalists using it as a source too? It's nothing but a self referential feedback l…

Related (and I picked a tweet because that was the two highest google results for the phrase I searched):

https://twitter.com/freakonometrics/status/10205573001537044...

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