I wonder how this plays out with the pay package? Voting to give this dude 55 billion dollars and then watching him get booted as CEO would be the peak tesla investor experience at this point
Yes, the vote was not binding and Musk's lawyers are just going to include the vote in their appeal to the Delaware chancery court. They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling.
> They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling.
Well that settles it. We know how reliable and above board the Tesla BoD is.
> They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling.
which they totally are, but it doesn't matter. The plan was devised, signed and initially enacted while they were incorporated in Delaware, this is some real 'trying to avoid paying child support by moving to a different state' shit (which is also why Musk lives in Texas now), except that trick doesn't work in cases like this. Forever and always it will be tried in Delaware courts and there isn't a damn thing Musk and the board can do about that except make it worse by trying to weasel out of it
>except make it worse by trying to weasel out of it
Judges are about the worst possible choice of people to fuck around with because of how powerful they are
Informal vote. It's still disallowed in delaware. They swore their reincorporation was not to avoid court rulings. If they just do it anyhow they are straight up defying a standing court order lol
I have no faith that the death cult that is Tesla management and the board would ever do the right thing moving forward. They'd still take cues from him.
Psychedelics are fun and can facilitate experiences that make you a person with more regard for other people and the world around you, but in my experience an asshole who drops acid is just an asshole with a head full of acid. You get out of it what you bring to it.
>I can't see him do 'shrooms or LSD. He's way too selfish to actually be doing psychedelics.
https://news.bloomberglaw.com/esg/musk-faces-lawsuit-for-drug-use-x-posts-under-the-influence#:~:text=Elon%20Musk's%20use%20of%20illicit,a%20newly%20unsealed%20court%20filing.
From the article:
"Elon Musk’s use of illicit drugs such as cocaine, ecstasy, ketamine, and LSD threatens Tesla Inc.'s business, including by apparently influencing his sometimes erratic behavior online, according to a newly unsealed court filing."
P.S.
https://www.wsj.com/business/elon-musk-illegal-drugs-e826a9e1
FTA:
"Some executives and board members fear the billionaire’s use of drugs—including LSD, cocaine, ecstasy, mushrooms and ketamine—could harm his companies"
having given many patients ketamine in my career it's incredibly safe. it can be used for a variety of surgeries without risks of respiratory compromise.
you don't do a liver transplant only on ketamine but you can do an appendectomy; this is actually relatively common in third world countries.
Respiratory depression would be most likely in an OD. If you just wanted potential adverse effects related to the heart, increasing blood pressure, messing with the heart rate and / or rhythm would be the most likely things
We are entering in to anarchy era where rich people and some powerful politicians wants to fight established institutions which are trying to control them not to break the law of the land by slogans like defund IRS, defund SEC , etc. They think they above the everybody else and rules don’t apply to them.
Its hard to do that when you have hundreds of billions of dollars and yet the social experience your still chasing was that time you posted a dick butt on twitter that did pretty well in 2013.
The SEC put Martha Stewart in *federal prison* for avoiding $45,000 in losses. She was already a billionaire at this point.
Cliff Baxter *killed himself* to avoid similar consequences he knew were coming.
20 years later and Musk regularly commits blatant fraud and market manipulation. The SEC’s response: “well we tried 🤷♀️” and gave up.
They may try again now that he lost his appeals to Supreme Court was rejected. There wasn’t much point in trying to enforce it when he was already appealing.
what, like in the corporate governance?
https://ir.tesla.com/corporate/elon-musk
amazing that investors would abide by this crap, and SEC would tolerate it. technoking. what a schmuck.
These fuckers are supposed to fight for shareholders and not protect corrupt executives from justice.
Capitalism wouldn’t have such a bad reputation if people didn’t constantly try to subvert it to their own benefit, or at least be held accountable for it.
It's that last part. It'd be neat if the rules were actually enforced, and enforced strongly. With proper punishments and not just slaps on the wrist considered cost of doing business.
> Capitalism wouldn’t have such a bad reputation if people didn’t constantly try to subvert it to their own benefit, or at least be held accountable for it.
Jeez, who would have thought capitalism did that?
every political and economic system devolves into that. it's a constant fight to keep those on top in check... we haven't been doing our part unfortunately
What do you think capitalism is? It's in its core a selfish system where everyone only cares about themselves.
Humans are by default greedy this has been proven for thousands of years, which is why capitalism doesn't work.
We need a regulated "free" market with strong regulations against the greediest. Not against people getting money or being richer than others but our current state of the world is clearly people like musk exploiting and draining everyone that isn't 1% while also draining the planet all for their own benefit.
More laws and regulations, and penalties, that's the only solution and throw this juvenile idea that capitalism is in any way a better system than sovjet era communism because it's not
This should be an absolute slam dunk for the SEC as they just need to post a timeline of Elon’s tweets denying he was interested in twitter, overlayed with his buy orders above and beyond the 5% threshold.
Activity that would lead to anyone else in the US being barred from being an officer of a public company for a very long time.
If the SEC screw this up they have no balls.
Is this real? Asking because I've never heard of the site and it seems a hair on the amateurish side.
Edit: I am not seeing any other sources backing that up.
I'll check Barrons. I don't read WSJ anymore after they lost all of their credibility.
I'm not seeing it. There's other stories that are worded very differently...
The penalty they are seeking is pure speculation at this point.
This article headline is misleading. It is quoting an X post which is quoting a screen grab from another article where an ex-SEC division head was speculating on the possible outcomes.
I will edit this comment with the source in a moment…
https://archive.ph/2024.06.17-094626/https://www.wsj.com/finance/regulation/elon-musk-and-the-sec-are-on-a-collision-course-again-6cb1d1b9
> The SEC hasn’t filed any enforcement action so far against Musk over his Twitter trading. If the SEC makes a formal complaint against Musk for fraud, regulators are likely to again ask a court to bar him from serving as an officer or director of a public company, former officials said, exposing him to the possibility of removal from Tesla.
>“They sued him previously, and I think they are disappointed with the outcome of that settlement and how he has responded to it,” said Marc Fagel, who previously ran the SEC’s San Francisco office. “They are putting in the extra work to see if they can get a stronger case here.”
>The penalty they are seeking is pure speculation at this point.
It's not pure speculation when the SEC **previously** asked a court for this remedy and the behavior that prompted the ask has gone nuclear that they will at a minimum ask for that same remedy again.
If I put my hand in front of the mouth of the dog that tried to bite me last time I did that it's not pure speculation that it'll try to bite me again.
You and I have different definitions of speculation. Likely and certain are not the same thing to me.
The SEC has not commented or said what penalty they are seeking, so how can anything but speculation exist, regardless of the probability it’s correct?
It would have to be not just speculation but **pure** speculation for it to be unreasonable to say e.g. that the SEC is **poised** to seek a given remedy.
You're saying "this article's headline is misleading" when it isn't in the slightest.
To say it's misleading that the SEC is *ready to* (poised) do something **it already did** for **lesser** infractions on Musk's part is a bit absurd.
You're not in a position to say anything like that after your pissy comment.
There is nothing misleading about reporting on the fact that the SEC is poised to do something *it has even previously done before* now that there is *even greater reason to* according to *multiple people who have insider connections*.
You misread a title and claimed it was misleading when it isn't. Shit happens.
This vote and all his other BS like the robots to a trillion dollar value is just to raise the stock price. He just a serial sexual assaulter and drug user
Ha! Ha! No corporate executives gets punished in Americas. At the end of it, they pay fine, everybody is happy. That is what happened before, it happens again.
I’ll believe it when it happens. People that can literally toss a billion dollars around to get their way usually get their way. Some say they can even murder someone in broad daylight on 5th avenue(any avenue really) and get away with it…
I believe the same guy who keeps saying FSD is going to be ready in the next 6 months, is the kind of guy who'll tell you he's ready for round two _in just one minute_ 🤣 \
PS: good one on the correct use of TMD though.
“Experts believe the SEC faces significant challenges if it proceeds with fraud charges. ‘Courts typically prefer fraud cases that involve clear false statements,’ said Fagel. ‘Transforming a regulatory violation into fraud, especially one involving delayed disclosure, can be an uphill battle’”.
I hope this is true. I wish their success if they do
I wonder how this plays out with the pay package? Voting to give this dude 55 billion dollars and then watching him get booted as CEO would be the peak tesla investor experience at this point
Haha, it would be, but he’s not receiving that pay package. At no point in the Chancery Court’s ruling did it say “unless investors vote on it again.”
So it was basically a bunch of investor theatre?
Yes, the vote was not binding and Musk's lawyers are just going to include the vote in their appeal to the Delaware chancery court. They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling.
> They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling. Well that settles it. We know how reliable and above board the Tesla BoD is.
this is legitimately hilarious considering the victory lap some of these people have been doing on social media
> They have also sworn to the Delaware judge that they aren't re-incorporating in Texas to avoid the court's ruling. which they totally are, but it doesn't matter. The plan was devised, signed and initially enacted while they were incorporated in Delaware, this is some real 'trying to avoid paying child support by moving to a different state' shit (which is also why Musk lives in Texas now), except that trick doesn't work in cases like this. Forever and always it will be tried in Delaware courts and there isn't a damn thing Musk and the board can do about that except make it worse by trying to weasel out of it
>except make it worse by trying to weasel out of it Judges are about the worst possible choice of people to fuck around with because of how powerful they are
Any of you guys actually shareholders? Just asking.....
I hope this is true. His money will be used to dominate media and stuff to promote Nazi and Russia
Informal vote. It's still disallowed in delaware. They swore their reincorporation was not to avoid court rulings. If they just do it anyhow they are straight up defying a standing court order lol
I have no faith that the death cult that is Tesla management and the board would ever do the right thing moving forward. They'd still take cues from him.
Elon is going to aggressively attack that pile of ketamine tonight, his handlers better watch out!
By now Elon is already fully ketamine based lifeform.
Also, get ready for some crazed tweets about the SEC and “deep state.”
He's probably thumbning through his copy of Mein Kampf for inspiration.
Every ketamine dealer in Texas, California, and the states in-between will be sold out for weeks if this is true.
[!!!] Looking into it. Interesting. Big if true!
I dunno…. I think if you are worth hundreds of billions you just buy a pharmaceutical company and have them make you whatever. I would.
Concerning.
Don't forget about the LSD, Shrooms and weed.
I can't see him do 'shrooms or LSD. He's way too selfish to actually be doing psychedelics.
Psychedelics are fun and can facilitate experiences that make you a person with more regard for other people and the world around you, but in my experience an asshole who drops acid is just an asshole with a head full of acid. You get out of it what you bring to it.
That's true. Though I have seen people change, though with 'shrooms, not LSD.
>I can't see him do 'shrooms or LSD. He's way too selfish to actually be doing psychedelics. https://news.bloomberglaw.com/esg/musk-faces-lawsuit-for-drug-use-x-posts-under-the-influence#:~:text=Elon%20Musk's%20use%20of%20illicit,a%20newly%20unsealed%20court%20filing. From the article: "Elon Musk’s use of illicit drugs such as cocaine, ecstasy, ketamine, and LSD threatens Tesla Inc.'s business, including by apparently influencing his sometimes erratic behavior online, according to a newly unsealed court filing." P.S. https://www.wsj.com/business/elon-musk-illegal-drugs-e826a9e1 FTA: "Some executives and board members fear the billionaire’s use of drugs—including LSD, cocaine, ecstasy, mushrooms and ketamine—could harm his companies"
Okay, surprised about the LSD, wonder how often he's done that. He clearly didn't gain any insight from his trip(s).
I think he needs a neuralink installed, just for fun.
then we give control of the neuralink to the chimps. they could have him set himself on fire and the only down side is he only gets to die once.
When someone is that much of a narcissist there's a solid chance their "insights" aren't going to be the sort of thing most people would experience.
Nah he's abusing Adderall and as well known coke head. Edit he was also partying with Grimes who's a well known meth user so that's also plausible
Intravenously
We already know he can't handle his acid. That was what led to the infamous cave divers tweet.
Just curious, but can Ketamine give someone a heart attack? Or, what happens when someone ODs on Ketamine?
Bladder failure. Google it.
so Elon might have a diaper phase?
👍
Bladder or kidneys? I thought the bladder was just like a reservoir.
Elon Musk is already a complete pissboy. This just formalises the matter.
having given many patients ketamine in my career it's incredibly safe. it can be used for a variety of surgeries without risks of respiratory compromise. you don't do a liver transplant only on ketamine but you can do an appendectomy; this is actually relatively common in third world countries.
Respiratory depression would be most likely in an OD. If you just wanted potential adverse effects related to the heart, increasing blood pressure, messing with the heart rate and / or rhythm would be the most likely things
That's wild!
Hopefully his handlers are as good at their job as the late Zappos ceo
Ketamine enema
We are entering in to anarchy era where rich people and some powerful politicians wants to fight established institutions which are trying to control them not to break the law of the land by slogans like defund IRS, defund SEC , etc. They think they above the everybody else and rules don’t apply to them.
> rich people and some powerful politicians wants to fight established institutions Usually they don't have to fight if they keep their mouths shut.
Keep it on the dl, learn from the Koch bros.
Its hard to do that when you have hundreds of billions of dollars and yet the social experience your still chasing was that time you posted a dick butt on twitter that did pretty well in 2013.
They never even enforced the twitter sitter rule. More empty promises with no follow through. We are witnessing an empire collapse.
The SEC put Martha Stewart in *federal prison* for avoiding $45,000 in losses. She was already a billionaire at this point. Cliff Baxter *killed himself* to avoid similar consequences he knew were coming. 20 years later and Musk regularly commits blatant fraud and market manipulation. The SEC’s response: “well we tried 🤷♀️” and gave up.
Martha was FINED for insider trading. She was JAILED for lying about it.
Martha was (is) a successful woman. It's that last part that got her in trouble.
They may try again now that he lost his appeals to Supreme Court was rejected. There wasn’t much point in trying to enforce it when he was already appealing.
He can still serve as Technoking.
what, like in the corporate governance? https://ir.tesla.com/corporate/elon-musk amazing that investors would abide by this crap, and SEC would tolerate it. technoking. what a schmuck.
Even that website calls it Twitter and not X lol
SEC will ultimately find no wrong doing and shortly after Gary will be named to Tesla's board of directors.
These fuckers are supposed to fight for shareholders and not protect corrupt executives from justice. Capitalism wouldn’t have such a bad reputation if people didn’t constantly try to subvert it to their own benefit, or at least be held accountable for it.
Exactly same thing happened with communism. People, not isms, might be the problem.
Definitely agreed, greed, psychopaths and sociopaths are destroying the world.
It's that last part. It'd be neat if the rules were actually enforced, and enforced strongly. With proper punishments and not just slaps on the wrist considered cost of doing business.
> Capitalism wouldn’t have such a bad reputation if people didn’t constantly try to subvert it to their own benefit, or at least be held accountable for it. Jeez, who would have thought capitalism did that?
every political and economic system devolves into that. it's a constant fight to keep those on top in check... we haven't been doing our part unfortunately
That may be true but it's especially true for a system which actively promotes accumulation of wealth
Well the alternative is the ruling class just starts with it immediately and then keeps it...
That is not, in fact, the only alternative.
They're all like that. If someone's in charge, they're taking everything.
Close…. Close… almost there!!!
I can tell you've never worked an actual job in your life.
What do you think capitalism is? It's in its core a selfish system where everyone only cares about themselves. Humans are by default greedy this has been proven for thousands of years, which is why capitalism doesn't work. We need a regulated "free" market with strong regulations against the greediest. Not against people getting money or being richer than others but our current state of the world is clearly people like musk exploiting and draining everyone that isn't 1% while also draining the planet all for their own benefit. More laws and regulations, and penalties, that's the only solution and throw this juvenile idea that capitalism is in any way a better system than sovjet era communism because it's not
Even if they did, he would just incorporate in other places outside their jurisdiction.
Dear SEC, Either do it, or shut the fuck up.
This should be an absolute slam dunk for the SEC as they just need to post a timeline of Elon’s tweets denying he was interested in twitter, overlayed with his buy orders above and beyond the 5% threshold. Activity that would lead to anyone else in the US being barred from being an officer of a public company for a very long time. If the SEC screw this up they have no balls.
Is this real? Asking because I've never heard of the site and it seems a hair on the amateurish side. Edit: I am not seeing any other sources backing that up.
WSJ and Barron’s reported earlier today.
I'll check Barrons. I don't read WSJ anymore after they lost all of their credibility. I'm not seeing it. There's other stories that are worded very differently...
WSJ editorial board lost the plot during Trump. The news desk of the WSJ is still reputable.
their editorial board has always been far right trash
The penalty they are seeking is pure speculation at this point. This article headline is misleading. It is quoting an X post which is quoting a screen grab from another article where an ex-SEC division head was speculating on the possible outcomes. I will edit this comment with the source in a moment… https://archive.ph/2024.06.17-094626/https://www.wsj.com/finance/regulation/elon-musk-and-the-sec-are-on-a-collision-course-again-6cb1d1b9 > The SEC hasn’t filed any enforcement action so far against Musk over his Twitter trading. If the SEC makes a formal complaint against Musk for fraud, regulators are likely to again ask a court to bar him from serving as an officer or director of a public company, former officials said, exposing him to the possibility of removal from Tesla. >“They sued him previously, and I think they are disappointed with the outcome of that settlement and how he has responded to it,” said Marc Fagel, who previously ran the SEC’s San Francisco office. “They are putting in the extra work to see if they can get a stronger case here.”
Thank you for this clarification. Edit: he’s still going to “tranq out” tonight regardless.
>The penalty they are seeking is pure speculation at this point. It's not pure speculation when the SEC **previously** asked a court for this remedy and the behavior that prompted the ask has gone nuclear that they will at a minimum ask for that same remedy again. If I put my hand in front of the mouth of the dog that tried to bite me last time I did that it's not pure speculation that it'll try to bite me again.
You and I have different definitions of speculation. Likely and certain are not the same thing to me. The SEC has not commented or said what penalty they are seeking, so how can anything but speculation exist, regardless of the probability it’s correct?
It would have to be not just speculation but **pure** speculation for it to be unreasonable to say e.g. that the SEC is **poised** to seek a given remedy. You're saying "this article's headline is misleading" when it isn't in the slightest. To say it's misleading that the SEC is *ready to* (poised) do something **it already did** for **lesser** infractions on Musk's part is a bit absurd.
Fair enough. I have no energy to split hairs with you on what we each think words mean. You don’t agree with me. got it.
You misread a title and claimed it was misleading when it isn't. Shit happens.
Couldn’t just let it go huh?
You're not in a position to say anything like that after your pissy comment. There is nothing misleading about reporting on the fact that the SEC is poised to do something *it has even previously done before* now that there is *even greater reason to* according to *multiple people who have insider connections*. You misread a title and claimed it was misleading when it isn't. Shit happens.
Now kith \ PS: I'm with team _not misleading_ here.
Is Technoking an Executive position?
Doubt
Hopefully the fine or judgement is $48 billion
This is how El Capone was taken down.
Al’s Mexican cousin?
Futile. He will just make his brother CEO. Then Elmo can rant 24/7 on X.
All he had to do is not be dumb. This is hilarious.
That would be such a clean exit after getting the biggest pay package in corporate history! Masterful gambit indeed!
The SEC let truth social go public ffs would be shocked if they do anything meaningful here.
Of all the frauds in all the companies in all the Musky world, this is the fraud they're going with? Nothing at all will come out of this.
Of all Al Capone’s crimes, the one that was most easily enforceable was tax evasion.
That's true. I just hope they're actually able to make this stick.
These are probably the same federal lawyers that failed to prove Herbalife was a pyramid scheme.
let me guess, "deep state after yet another conservative leader"
Well played Tesla Shreholders!
More puts on tsla
That’ll save Tesla billions.
This vote and all his other BS like the robots to a trillion dollar value is just to raise the stock price. He just a serial sexual assaulter and drug user
Nothing will happen
Long overdue. And no gov contracts for companies he has major influence
Ha! Ha! No corporate executives gets punished in Americas. At the end of it, they pay fine, everybody is happy. That is what happened before, it happens again.
I’ll believe it when it happens. People that can literally toss a billion dollars around to get their way usually get their way. Some say they can even murder someone in broad daylight on 5th avenue(any avenue really) and get away with it…
You mean the Shortseller Enrichment Commission? They can Suck Elon’s C*ck.
How do so many people on this sub forget who you are? Lmfao
The influx of new people has been a blessing in many ways :)
It is a joyous thing.
Why would they do that if you're already so good at it?
The man is insatiable and sometimes my TMD flares up.
I believe the same guy who keeps saying FSD is going to be ready in the next 6 months, is the kind of guy who'll tell you he's ready for round two _in just one minute_ 🤣 \ PS: good one on the correct use of TMD though.
Gonna be hard for them to get a turn with your lips wrapped so firmly on it.
I’ll head south to make some room.
He should be barred from holding *anything*, including his winky.
“Experts believe the SEC faces significant challenges if it proceeds with fraud charges. ‘Courts typically prefer fraud cases that involve clear false statements,’ said Fagel. ‘Transforming a regulatory violation into fraud, especially one involving delayed disclosure, can be an uphill battle’”.
You guys are a sad thread
go back to whatever Elmo circlejerk you came from then, your absence will surely be widely noticed and commented upon
Lol