Live data from Hacker News

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

bloomberg.com

61–70 of 884 posts

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

#61
post #50

Earlier quoted context omitted.

You say the shorts don't have any power to hurt tesla, but much of tesla's and elon musk's personal debt is backed by Tesla shares. If the price dips too low, it's potentially catastrophic for the company and him.

In what way would that be catastrophic for the company?

If the stock falls below a certain price, they have to pay down debt. This is a requirement when you use stock as collateral.

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

#62

Earlier quoted context omitted.

So, I get it. This is how capitalism is supposed to work. But I don't think anyone is going to care about the wealth of these short sellers when the climate is irreversibly changed. China is smart. They don't fuck around with tax incentives and other silly market manipulators. They use central policy planning to drive forward renewables and battery electric vehicles at nation state scale, and it's a damn shame the Un…

In my opinion: We (as a society and a country) need Tesla to succeed. Tesla can't succeed with Elon Musk as CEO at this point. So Elon should be removed.

Owning about 12k shares of TSLA, having followed the company closely since inception (when it was ran by Martin Eberhard and Marc Tarpenning), I can't see Tesla succeeding without Musk. It'll end up acquired, or as a boutique manufacturer like Ferrari.

Tesla's value is Musk's determination. Still, he needs to choose his actions more wisely, clearly.

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

#63
post #53

A short while ago (per my comment history), I asked whether Elon Musk should remain as CEO of Tesla. I think, for my part, the answer is clearly no. He might be brilliant, he has undeniably had a hand in creating something awesome with Tesla and SpaceX's technology, but he's now a danger to the very thing he helped build. This is just one of the lawsuits filed against him or Tesla in recent weeks that have him as the…

He may deserve that, but I believe that public perception is that Elon Musk is Tesla. In the same way that Bill Gates was Microsoft and Steve Jobs was Apple, Musk commands a huge moral force (in a Clausewitz sense... https://en.wikipedia.org/wiki/Carl_von_Clausewitz ). Fire Musk and you need to hire a press team, rebrand, and basically become seen as a stuffy company instead of the hip trendy up-and-comer. How much p…

It's big, but is it irrecoverable? Because the current situation might be.

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

#64

Earlier quoted context omitted.

If Elon Musk is removed as CEO at Tesla, Tesla is over. I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major force (original self-driving push was a DoD X-Prize) Personally I like when American companies succeed a…

I don't agree. I don't believe in the "key man" clause. Apple wasn't over when Jobs passed. Microsoft wasn't over when Gates left. But supposing I did agree - > I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major…

For the record, Gates isn't dead. He just isn't the CEO of Microsoft any longer.

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

#65
post #43

Earlier quoted context omitted.

If Elon Musk is removed as CEO at Tesla, Tesla is over. I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major force (original self-driving push was a DoD X-Prize) Personally I like when American companies succeed a…

Why? Honestly, what does Musk bring right now? If Tesla's product is good, if it's technology is good why shouldn't they succeed without Musk providing an inconvenient distraction.

The thing is, the product is not good, yet. They've yet to ship a $35,000 car, they've yet to hit their production goals, they've yet to justify their sky-high valuation, and their current build quality is below what one would expect for a $50,000 car.

This doesn't mean that failing to fix those problems will kill Tesla. It may, however, cause a large drop in stock price, massive losses for shareholders at large, and E.M. in particular, restructuring of their debt, and possibly acquisition for pennies on the dollar by another auto manufacturer.

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

#66
post #64

Earlier quoted context omitted.

I don't agree. I don't believe in the "key man" clause. Apple wasn't over when Jobs passed. Microsoft wasn't over when Gates left. But supposing I did agree - > I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major…

For the record, Gates isn't dead. He just isn't the CEO of Microsoft any longer.

Whoops! Fixed that. My apologies to Bill. I knew that, I swear.

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

#67
post #65
post #43

Earlier quoted context omitted.

Why? Honestly, what does Musk bring right now? If Tesla's product is good, if it's technology is good why shouldn't they succeed without Musk providing an inconvenient distraction.

The thing is, the product is not good, yet. They've yet to ship a $35,000 car, they've yet to hit their production goals, they've yet to justify their sky-high valuation, and their current build quality is below what one would expect for a $50,000 car. This doesn't mean that failing to fix those problems will kill Tesla. It may, however, cause a large drop in stock price, massive losses for shareholders at large, and…

That sounds like what they need is someone like Tim Cook: someone with a background in operations management.

Like, when I step back and look at Tesla's current challenges, they have two big ones: delivered products to meet demand and improving their driver assistance/autonomous driving offerings.

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

#68

This comment I made a few weeks ago is coming alot closer to the truth than I would have expected. I hope for Space X and Tesla's sake that the reports of a directory and Executive ban don't come true. https://news.ycombinator.com/item?id=18016250#18016292 SpaceX is doing well, Tesla has pulled itself back from the brink and may actually become a profitable car company. All Elon had to do was keep his head down and n…

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 thousands of people in his organizations that actually do the work.

He made it sound like he just constantly engineers things, but I find it hard to believe that at any point he's sitting down with CAD and fluid dynamic applications and mapping out experiments for rocket prototypes. I don't doubt he's capable of doing that with his background (or learning how to do it) but it's much more likely there is a whole team of really dedicated experts that he just leaves uncredited.

Are Apple products different now that Jobs are gone? One could argue that, but the core people that make and design all their overpriced, planned obsolescence devices are still there, often uncredited, while everyone else likes to focus on the captain of a ship.

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

#69
I'm perplexed how Musk could act without thinking of the consequences? Now I fear that he will be banned from SpaceX as well, when you are convicted of fraud by SEC, it will impact your duties at other companies.

It takes decades to build a reputation but it can be destroyed overnight with a single tweet.

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

#70

Earlier quoted context omitted.

If Elon Musk is removed as CEO at Tesla, Tesla is over. I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major force (original self-driving push was a DoD X-Prize) Personally I like when American companies succeed a…

I don't agree. I don't believe in the "key man" clause. Apple wasn't over when Jobs passed. Microsoft wasn't over when Gates left. But supposing I did agree - > I find it curious that an innovative American company pushing to help our carbon problem by going electric is so lambasted, shorted, constantly under attack. It cannot be argued that Tesla pushed forward both electric cars and self-driving vehicles as a major…

> I don't agree. I don't believe in the "key man" clause. Apple wasn't over when Jobs passed. Microsoft wasn't over when Gates died.

I think most people believe Ballmer did a terrible job as CEO – Microsoft's stock was basically flat for the 12 years after Gates left, and only really started to climb again after Nadella took over. That seems to be some evidence for key men.

Post reply on HN