Live data from Hacker News

Tesla is being investigated for securities and wire fraud for self-driving claim

theverge.com

21–30 of 189 posts

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#21
- "The investigation, which was first reported in October 2022 but has been going on since at least late 2021, involves federal prosecutors in Washington and San Francisco who..."

Just to clarify, this is the same one as this HN thread from October 2022,

https://news.ycombinator.com/item?id=33348388 ("Tesla faces U.S. criminal probe over self-driving claims (reuters.com)", 469 comments)

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#22
post #2

Securities fraud again, funny that the guy who "bought Twitter" and shut down free speech ended up getting sued himself due to his own tweet (lying about # of Teslas being produced). It's like a bully trying to chase someone but tripping over their shoelace in the first step, love it. On self-driving: For several years the guy has been saying "next month" "next year" it's been like 10+ years at this point. He's a big…

[flagged]

[flagged]

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#24
post #2

Securities fraud again, funny that the guy who "bought Twitter" and shut down free speech ended up getting sued himself due to his own tweet (lying about # of Teslas being produced). It's like a bully trying to chase someone but tripping over their shoelace in the first step, love it. On self-driving: For several years the guy has been saying "next month" "next year" it's been like 10+ years at this point. He's a big…

I think Musk is just relaying the promises he receives from ML/AI guys he employes. As far as I know FSD has always been a paid option.

This is irrelevant, he is public CEO and has tons of responsibilities. Basically lying to millions of customers in very public manner is a serious issue.

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#25
post #2

Securities fraud again, funny that the guy who "bought Twitter" and shut down free speech ended up getting sued himself due to his own tweet (lying about # of Teslas being produced). It's like a bully trying to chase someone but tripping over their shoelace in the first step, love it. On self-driving: For several years the guy has been saying "next month" "next year" it's been like 10+ years at this point. He's a big…

I think Musk is just relaying the promises he receives from ML/AI guys he employes. As far as I know FSD has always been a paid option.

And after years of publicly looking like a lying car salesman, why would he still listen to those employees? I don’t think it’s the line employees that are lying here.

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#26
post #15

Earlier quoted context omitted.

> The platform is more open and vibrant than ever You reveal your lack of experience with Twitter, it's declined a lot. Pretty sure you can't even link to a tweet (a xweet?) from a news article or blog post - they totally killed the platform, not sure where you've been.

A lot of people are really defensive about this. What's the big deal if X does well? Why are people so personally invested in pretending like Elon didn't do the world a huge service by removing Twitter from the control of possibly the most politically extreme and anti-constitutional subculture in the entire country?

I can tell by the upvote/downvote dance on the parent comment - people love their celebrities. They get really mad if you talk bad about Elon Musk lol I find it quite pathetic personally.

I of course disagree - I don't see the "huge service". Everything from defrauding investors, customers, speaking out of school (saying he's a physicist in the early days), hanging out with Ghislaine Maxwell, stealing then tanking Tesla, destroying Twitter, he's a walking disaster to the point I believe it's intentional.

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#27

This is about defrauding people who bought a tesla, not investors. > In 2020, Musk told a crowd in Shanghai that he remains “confident” that Tesla will achieve “basic functionality for level five autonomy this year,” referring to the SAE’s rankings of autonomy. Tesla’s technology, in 2024, is still at level 2. This reminds me alot of the Thernos case where she tried to make the case not about fraud but about an overl…

Shouldn't fraud (for the end user/customer) be determined by claims made about the product at the time of sale, and not promises of what might be possible a few years from now?

If you want to say promises of future features is fraud, then surely that would only be in relation to investors?

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#28
The latest self driving is getting really good. My main problem is being a front seat driver and taking action because I’m not sure of it’s thought process but it ends up getting things correct.

I think all these systems* could benefit from earlier braking to give the “supervisor” more piece of mind.

* including my wife in this.

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#29
post #20

Absolutely. If Martha Stewart went to jail for much less, a certain CEO[1] should be doing some hard time for ludicrous claims over the past 8 years. Some back-of-the-napkin-math: If we focus on the 4m Model 3 (& Y) vehicles sold that had these claims attached and assume that there was a peak uptake rate of 46% declining to 11% as these claims became obviously untrue. On FSD @ an ever-increasing price of $6000-$12000…

I agree 100% he should be prosecuted at this point. He should have been the first time.

Re: Tesla is being investigated for securities and wire fraud for self-driving claim

#30

This is about defrauding people who bought a tesla, not investors. > In 2020, Musk told a crowd in Shanghai that he remains “confident” that Tesla will achieve “basic functionality for level five autonomy this year,” referring to the SAE’s rankings of autonomy. Tesla’s technology, in 2024, is still at level 2. This reminds me alot of the Thernos case where she tried to make the case not about fraud but about an overl…

Shouldn't fraud (for the end user/customer) be determined by claims made about the product at the time of sale, and not promises of what might be possible a few years from now? If you want to say promises of future features is fraud, then surely that would only be in relation to investors?

"It's almost ready" is a claim about the product at the time of sale.
Post reply on HN