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Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

latimes.com

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Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#81

Post by unityByFreedom »

techslave wrote: post #45
Despegar wrote: post #8

>Of more concern to Tesla investors: What if he knows something they don’t know about the company’s financial future — and is hoping to hang any failure on the nasty, overreaching regulators rather than his own dubious management skills? That seems very possible. I think the reality of scaling up Tesla to live up to its valuation might be too daunting for Elon to handle. It might even be impossible. EV sales as a % o…

> EV sales as a % of total vehicle sales is surprisingly low. What’s surprising about it?

Tesla's valuation

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#82

Post by macinjosh »

brian000 wrote: post #46

search "Elon Musk" at crazydaysandnights.net for a different perspective on this guy

From that site's footer:

> Crazy Days And Nights Is A Gossip Site. The Site Publishes Rumors, Conjecture, And Fiction.

Not what I would use for gathering real information.

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#84

Post by Rebelgecko »

iamcreasy wrote: post #75
pbreit wrote: post #68

Earlier quoted context omitted.

That exchange is exactly what he agreed to: only tweets that could be material needed pre-approval.

What was said on that tweet, that made SEC angry was, already mentioned in the Tesla earning - therefore is a public knowledge. This tweeter thread has a screenshot of the transcript. https://twitter.com/elonmusk/status/1100215984713957376 Later Elon called SEC out on their lack of due diligence. "SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k. How embarrassing … " Source: https://twi…

Isn't there a difference between "350-500k" and "500k"?

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#85

Post by JauntTrooper »

krick wrote: post #70

Maybe I'm naïve, but I'm actually buying the obliviousness of his behavior. I don't really believe in Tesla and would gladly buy the whole "suicide by SEC" thing, but reading what actually happened, this doesn't really sound like a big deal. Musk has been having emotional moments for a long time now, at this point it's really easy for me to just shrug off this as "he's always been like this". The last ten years of Mu…

He's not oblivious. He's being obstinate and bristling at their authority.

He's been CEO of a public Tesla for 9 years now. Respecting the SEC and securities laws is just part of the CEO job. He's got great lawyers that remind him of this daily. And you'd think the $20 million fine and loss of the Chairman role would be enough of a wake up call.

It's so frustrating to see, because I really want Tesla to succeed and I think he's one of the great executives of our time, and he wastes his time and attention on short-term inanities like short sellers and daily stock price movements. If he just buckled down and built cars, he'd blow all of those short sellers out of the water.

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#86

Post by iamcreasy »

thaumasiotes wrote: post #77
iamcreasy wrote: post #63

Earlier quoted context omitted.

You are cherry picking a few minutes from an interview that was several hours long. CNBC didn't air the full interview, and the cut at that point of the interview as very misleading. Here is what Elon said in response, "This is a very misleading edit. Please post the full transcript where I complete the sentence." Source: https://twitter.com/elonmusk/status/1072373731039870979 He also said "60 Mins actually had sever…

> Elon said in response, "This is a very misleading edit. Please post the full transcript where I complete the sentence." To be totally clear, the sentence being referred to is no part of what I mentioned above, and would not appear to be relevant. > You are cherry picking a few minutes from an interview that was several hours long. Was there another part of the interview where he said he would comply? That seems unl…

Elon is referring to the last sentenced your quoted from the interview.

Is he going to stick to the settlement? Who knows. Did he break the law by tweeting the figures? No. Why not? Because the information was already public. He said it in recent Tesla earning. Please google for more information.

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#87

Post by iamcreasy »

Rebelgecko wrote: post #84
iamcreasy wrote: post #75

Earlier quoted context omitted.

What was said on that tweet, that made SEC angry was, already mentioned in the Tesla earning - therefore is a public knowledge. This tweeter thread has a screenshot of the transcript. https://twitter.com/elonmusk/status/1100215984713957376 Later Elon called SEC out on their lack of due diligence. "SEC forgot to read Tesla earnings transcript, which clearly states 350k to 500k. How embarrassing … " Source: https://twi…

Isn't there a difference between "350-500k" and "500k"?

I think that is a valid point. There is a difference.

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#88

Post by 11thEarlOfMar »

It's pretty simple. Musk was hounded by short sellers who bet billions against Tesla and then spread patently false information about the company's activities and prospects[1]. Musk has one of those asymmetric senses of fairness (like the one that drove Gates to tears during Microsoft's anti-trust trials) that lost all faith in the SEC as it stood by and did nothing about what he felt was clearly illegal behavior.

In his mind, he was treated 'super unfairly' by bullies while the guardians stood by and did nothing. He really dislikes them for that.

Is his open disrespect a mature response? No. It's idealistic if not naive and he could be about to find out that the SEC does have teeth.

[0] https://www.theregister.co.uk/2000/10/25/inside_the_ms_trial... (sorry, couldn't find a better source)

[1] ?

"The SEC similarly should be leading the charge against purveyors of short-and-distort schemes. Unfortunately, the commission inexplicably has been reluctant to do so.Just like a pump-and-dump, a short-and-distort scheme violates the Securities Exchange Act antifraud provisions, as well as SEC Rule 10b-5. In fact, it has brought hardly any enforcement actions targeting this conduct."

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#89

Post by unityByFreedom »

gowld wrote: post #24
LiquidSky wrote: post #16

Earlier quoted context omitted.

No, this doesn't seem right. Musk is clearly burning through the good will he'd built up. There's going to be a limit to how much his aura can shield him, and it seems like he's really pushing to find that limit.

Why do you think he's being intentionally descructive asnd not just not caring what anyone (including the government) thinks?

So that during an economic downturn he can get a government bailout, blaming any failures on externalities like the "unfair" SEC.

It's the same reason for making the company take on too much debt. When you're big the government won't let you fail. That's the belief anyway.

Re: Is Elon Musk trying to commit ‘suicide by SEC’ by taunting the agency?

#90

Post by unityByFreedom »

Animats wrote: post #61

His behavior is not unusual for someone who is burned out and/or a pothead. Ignoring consequences is typical stoner behavior. We'll have to see how this plays out.

I think this is more than pot talking. This is repeated bashing of any checks to his power. Whistleblowers, negative media, and government agencies giving critical oversight all get the same shunning from Musk. Except NHTSA of course as they appear to be captured.
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