> In 2018, he came under fire after tweeting that he was considering taking Tesla private, and the SEC charged him with fraud. Musk agreed to a court-approved deal in order to settle the charges, which required that Tesla lawyers review any social media posts containing information "material" to shareholders. Months later, after he was called out for defying the order, the settlement was amended to include a specific list of topics Musk needs permission to tweet about. The list includes tweets about the company's financial condition, production numbers or new business lines.
> The SEC notified Tesla that two of Musk's tweets from 2019 and 2020 — one about Tesla's solar roof production volumes and one about the company's stock price — hadn't received the required pre-approval, the Journal's Dave Michaels and Rebecca Elliott reported.
I find it hard to overlook that at least one thing that might be motivating him to buy Twitter is to tweet however he wants to tweet, regardless of US law.
[0]: https://www.cnn.com/2021/06/01/tech/elon-musk-tesla-sec-twee...
He got in trouble because of what he said given his responsibilities to Tesla and the market in general, not where he said it.
He'd have gotten in just as much trouble had he posted on Instagram.
Maybe I'm wrong and he'll still abide by the law (which, apparently he wasn't doing very well anyways), I just see it as possible escalating conflict between a private business and a government agency.
> The only question is whether the SEC has the authority to actually create pain for someone whose wealth is so outside of the norm.
I assume they should have the authority to make such rulings regardless of how wealthy someone is. Now, will they actually enforce those rulings to create that realized pain? Maybe that depends on how much regulatory capture one can muster.
Perhaps I'm looking too deep into this and he really does care a lot about other people having freedom to tweet whatever they want. I think there's just a good chance that the SEC ruling telling him he needs to have his Tesla tweets reviewed before sending them could also be motivating him to buy Twitter.
This doesn't really track. First of all he already tweets however he wants. Secondly what difference would it make to the SEC if he owns Twitter here?
I'm all for a good damning with faint praise, and this definitely put a smile on my face.
I'm still convinced this is just the Twitter board calling Musk's bluff.
Lets say this does fall through, the SEC, Tesla, and SpaceX fall out could be REALLY bad.