> According to Tesla’s Policy, any edits to a pre-approved Written Communication or even releasing a verbatim pre-approved Written Communication more than two days after it has been pre-approved requires that the pre-approval be reconfirmed. Even if the exact substance of the 7:15 tweet had been pre-approved 20 days before, Musk cannot credibly claim that he thought he was not required to obtain pre-approval again under the plain terms of the Policy. In fact, the written communication in the 7:15 tweet was not pre-approved 20 days earlier or at any time. Musk’s claim that he thought he was simply restating information from the January 30 communications is not credible.
https://www.documentcloud.org/documents/5750664-Show-Cause.h... page 12
The argument is not "this tweet got approved before, so I can edit it however I want". The argument is "the number is already public information, so I can make a new post mentioning it".
That is the problem, in a nutshell: it should have been pre-approved - according to the FCC's interpretation of the settlement agreement.
> Apparently we live in a country where the government can murder thousands upon thousands of innocent Iraqi civilians, deny that it ever happened, and profit off of the destruction.
> But god help you if you brutally beat someone to death
We’ll be hearing exactly this kind of argument for decades because of the shit trump is getting away with now, and he’s arguing he should get away with it because of the shit Clinton and Bush got away with.
It’s off topic, but a culture of law breaking at the top promotes law breaking at all levels of society.
What you're describing is an eventual consequence of metastasizing corruption. Wealth does not trickle down, but corruption does.
If he wanted to keep tweet vomitting, he could have decided not to settle with the SEC last year and taken his chances.
Why people get so excited about Musk spewing numbers over Twitter is beyond me, when the responsible course of action is to verify claims against other better vetted sources.
The crowd was eager to hang Elon over “funding secured” despite the entire deal being dependent on shareholder agreement.
The crowd is now eager to hang Elon over a typo.
I think it’s the crowd that needs to delete Twitter, not Elon.
Before you start discussing SEC rules remember these are all people who have been complicit in regulatory capture and they are all by definition the worst people for the job. They stood by while market manipulation was being performed daily through media publishing misleading stories in time to shake up morning trading. The SEC is corrupt to the core.
Yes, that's the "slap-on-the-wrist settlement" for Musk's securities fraud the parent was referring to.
>Why people get so excited about Musk spewing numbers over Twitter is beyond me
Because he is the head of a publicly traded company and spewing those numbers can violate the law.
>The crowd was eager to hang Elon over “funding secured” despite the entire deal being dependent on shareholder agreement.
Yes, that's precisely why his statement was fraud. He said he had funding secured when he didn't. He did this to manipulate the market.
Outside of the Musk cult, these are the laws people in Musk's position need to follow. If anything evidences SEC corruption it's Musk getting that sweetheart settlement for behavior that would land us average Joes in jail.
If you want to talk about cults at least support your argument with evidence.
Who says that no fault was found? Surely not Musk. He didn’t admit or deny the allegations of the complaint. And:
Defendant understands and agrees to comply with the terms of 17 C.F.R. § 202.5(e), which provides in part that it is the Commission’s policy “not to permit a defendant or respondent to consent to a judgment or order that imposes a sanction while denying the allegations in the complaint or order for proceedings,” and “a refusal to admit the allegations is equivalent to a denial, unless the defendant or respondent states that he neither admits nor denies the allegations.” As part of Defendant’s agreement to comply with the terms of Section 202.5(e), Defendant: (i) will not take any action or make or permit to be made any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis; (ii) will not make or permit to be made any public statement to the effect that Defendant does not admit the allegations of the complaint, or that this Consent contains no admission of the allegations, without also stating that Defendant does not deny the allegations; ...
https://www.heise.de/downloads/18/2/5/1/1/4/0/4/SEC_Vergleic...
You must tell the truth about how much money you make and spend, and report it annually to everyone, so they can make informed decisions about whether to buy or sell it the same as anyone else.
As long as you do, then you are allowed to sell stock. If you don't then you are not allowed to sell stock. The reasoning is obvious. It's too easy to commit fraud if you don't follow these rules. Therefore, you must agree to the rules to trade publicly. The SEC's job is to protect the public from fraud.
Elon Musk is the head of a public corporation, not a random Twitter user.
Seriously why? Do you go around teeeting about potentially sensitive company info? Employees don’t do it, why is Elon doing it?
IMO, if he had said this in an earnings call, or presented it in a way that made it seem "official", then I could get the problem, but it's twitter.
He specifically agreed to have Tesla legal review all such tweets to make sure he doesn't tweet bad information again, and promptly went and ignored that.
Except by some particularly whiny people looking for an excuse.
TSLA stated five years ago that Musk's twitter is an official source of information regarding the company.
As pointed out many times on this thread, Elon had Tesla designate his personal twitter account as an official source of material company information. Ergo, anything he posts to twitter is potentially subject to SEC reporting requirements.
If he didn't want that responsibility tied to his private account, he should have had Tesla create him a Tesla_CEO twitter handle that he could post from instead.
Several of the courts hearing DACA cases upheld the law, in at least one instance solely because of Trump's tweets established a racial motivation rather than a policy motivation for terminating the program.
The Muslim ban was heavily modified after courts repeatedly struck it down based on Trump's anti-Muslim tweets. The final version was designed to address the issues raised in the original rulings. It is limited to countries like Iran and Syria which are openly hostile to the US, and countries like Yemen and Somalia which have contributed a large portion of the membership of terrorist groups like Al Queada and ISIS. Two of the countries were added to that list Venezuela and North Korea) solely because they aren't Muslim. Persons on this list are feasibly national security concerns, which is just enough of a justification to uphold the travel ban on legal grounds.
I dunno, looking on from overseas it’s a bit surreal. Trumps tweets have normalized too, so it’s no news anymore when he tweets something outrageous.
>claimed 500k, but actually 400k
That's a 25% increase! Yeah that's bad! He was already warned for using twitter to spread misleading info about the value of his company. He should know better.
Unfortunately, the baseline for your understanding requires a reasonable amount of intelligence, a reasonable amount of empathy, and a reasonable amount of ability to frame situations in context.
The reality is that, surprisingly enough to people like yourself, the majority of the population does not actually have all three of those abilities. It was something that was unbelievable to me until I was close to something that dealt with public opinion.
You are absolutely correct on your take of the situation. The reality, unfortunately, is that the majority of the population is not capable (not their fault) of understanding the situation at that level.
This is why messaging out of corporations and politicians tends to be so odd. The majority of people are simply not capable of understanding things at your level.
Edit: I would strongly encourage people here to look up the median reading level in the United States. Then find an example text above that reading level(it's around 9th grade) and realize that half of the United States is below that level
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.