that he’s considering taking Tesla private at $420 and then followed up and said that funding was secure.the SEC saw them and sued Musk for misleading investors.
In September 2018, the SEC and Musk had reached a settlement. First, Musk and Tesla each had to pay $20 million, which, for the now world’s richest man, obviously this stuff is nothing. Musk can no longer be the chairman of Tesla. And Tesla would have to put in place a process where any of Musk’s statements—blog posts or tweets or anything like that—had to go through some kind of a legal process to make sure that they were vetted.
Do you think it’s fair to say that Elon Musk is thumbing his nose at those hundred years of rules of the road, by the way he tweets?, “I do not respect the SEC.” He tweeted shortly after their settlement, “SEC’s a three letter acronym, middle word Elon’s,” which I will let any listener figure out the Wordle puzzle there. He’s been very vocal that even in his recent court filings that the SEC is chilling his freedom of expression.
No, no. This is the most important part of this, writing a letter to a judge, filing a legal motion to throw out a settlement. The world’s richest man is in a fight with a government regulator over his usage of a specific platform. He just went and essentially bought the platform, or became the most powerful person within that company. That kind of behavior, it’s crazy in the U,S. In a functional capital market, these are the kind of things that you just would not normally think would happen.
For a long time, if you have thought about tech companies, you’ve also thought about the extra voting power that founders have on their boards. In this case, it feels like the person who’s going to have the extra power isthe founder. Is that a shift that we might see in other companies, or is this all very specific to these particular players in this drama?
Trump
looks lik it has somethin 2 do w free speech
What’s behind it, you ask? Consolidation of power.
He's decided to try and improve it. Simple as that.
He’s greedy. That’s all.
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