The Elon Musk Thread

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Xyls
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Re: The Elon Musk Thread

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I don't want to say his wealth all comes from fraud. A lot of his wealth right now is going to be temporary as I only see Tesla stock value going down in the coming years as it's price is way detached from reality. Elon definitely helped put Tesla on the map, but he is not responsible for most of the technologies or this "grand visionary" many of the Cult of Elon want to portray him as. He is simply good at selling ideas, and even that is becoming increasingly less convincing as he is becoming more erratic as time goes (probably a combination of ego, drugs, etc...)

However, Tesla was certainly benefited from things that were not really fair. A lot of the way early adopters of Tesla got to be able to afford Tesla's cars were from EV credits given by governments (mostly left-leaning) as a way to encourage EV adoption. -- Full disclosure, I'm a right-wing leaning member of this board before I tear into the Libs. -- The problem here is that by giving these EV credits it really disincentivizes companies from investing and keeping sight on what they need to do to be profitable. It makes it so the vehicles become profitable (as they can sell more units than they really should) at higher prices than would be needed to have mass adoption. This is partially why Tesla went down the luxury/performance vehicle route and why it is has had flush cash to throw at AI ventures (which to be honest with Tesla have not been THAT impressive compared to what people have been able to put together by crowdsourcing). Some of us futurists may like the gimmicks but that isn't ultimately the main reason why people have been wanting to go electric.

Going forward Tesla is really going to be about brand and prestige (if it survives Elon's management) so it is time to drop the idea that Tesla will fulfill some lofty social goal for humanity, because it wont. They may have nice cars, but the market seriously has them overvalued as they aren't even trying to go for lower cost EV vehicles to be competitive which I think the market thinks is going to happen and everyone is going to own a Tesla. In fact, EV subsidies at this point are probably hurting getting us switched over to EVs as it is making higher cost EV vehicles more profitable than they should be, and EV subsidies right now are only subsidizing richer people like the assholes of the "Cult of Elon". I don't know which company is going to be the herald of low-cost EVs - maybe an existing brand or maybe a new one... but it certainly isn't going to be Tesla. Left-wing policy is right now getting in the way of allowing the market to generate products we need. Will the left-wingers change on this. Probably not, because they are also ego driven douche bags as well.

Tl;dr: Tesla is an argument against EV subsidies.
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Re: The Elon Musk Thread

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U.S. man sues Elon Musk, SpaceX and Tesla for $258 billion on behalf of investors allegedly defrauded by Dogecoin pyramid scheme

June 16, 2022 4:58 PM GMT+1

Elon Musk, SpaceX and Tesla Inc. were sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin.

Keith Johnson, “an American citizen who was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme,” sued Musk and his companies, claiming they constitute an illegal racketeering enterprise to inflate Dogecoin’s price.

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” Johnson said in his complaint, filed Thursday in federal court in Manhattan.

Johnson is seeking to represent a class of people who have lost money trading in Dogecoin since April 2019. He is asking for $86 billion in damages, plus triple damages of $172 billion, as well as an order blocking Musk and the companies from promoting Dogecoin, and declaring that Dogecoin trading constitutes gambling under U.S. and New York law.

Musk didn’t immediately respond to emails seeking comment on the suit. Representatives of SpaceX and Tesla, and Tesla’s legal counsel, also didn’t respond right away.

https://fortune.com/2022/06/16/elon-mus ... id-scheme/

:lol:
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Ozzie guy
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Re: The Elon Musk Thread

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Elon Musk's child came out as transgender and changed their surname so it wasn't Musk.

For the child to change their surname did Elon Musk treat them badly or is it just a political statement?

It might explain the Grimes Musk couple's fights over trans issues on social media and Grimes leaving Elon for a transwomen.

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caltrek
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Re: The Elon Musk Thread

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Frankly, I am getting a little tired of reading about Musk. Still, if you must, here is a thoughtful piece that I didn't even bother to finish reading:

Elon Musk Has Become the Villain Liberals Always Imagined Him to Be
by Dereck Robertson
June 10, 2022

Introduction:
(Politico) Elon Musk is not a dumb guy. However hands-on he might or might not be as SpaceX’s “chief engineer,” the man knows enough about rockets to revolutionize commercial spaceflight, enough about batteries and materials science to revolutionize the electric vehicle industry, and enough about markets to earn the title of “world’s richest man” in doing both.

But he’s kind of a “dumb guy,” insomuch as he constantly does “dumb guy things”: performatively smoking a joint on Joe Rogan’s podcast; getting into a pointless, ad hominem Twitter fight (and eventual lawsuit) with a British cave explorer; and prolifically sharing juvenile, sub-chain-email quality memes. A decade ago, this didn’t really matter unless you were heavily invested in one of Musk’s many companies, or part of his then-nascent cult of personality. Figures like him existed mostly in an ideological vacuum, affecting a sort of faux-philosophical, dorm-room-stoner “I’m-not-into-politics” stance that limited their impact on American cultural and political life in general.

Things have changed. In a manner that was almost touchingly naïve in how personal — and transactional — it was, Musk tweeted a few weeks ago that “given unprovoked attacks by leading Democrats against me & a very cold shoulder to Tesla & SpaceX, I intend to vote Republican in November.” His political donations over the past several years have trended from majority-blue, to mixed, to almost entirely Republicans. He’s promised that if his bid to purchase Twitter is successful, he’ll bring former President Donald Trump back to the platform, a decision he says he’s made on the non-ideological grounds of “free speech” but which has an obvious partisan valence.
Read more here: https://www.politico.com/news/magazine ... -00038671
Don't mourn, organize.

-Joe Hill
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caltrek
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Re: The Elon Musk Thread

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Is Tesla Failing to Implement Agreement With SEC?
by Harri Weber
July 1, 2022

Introduction:
(TechCrunch) Elon Musk hasn’t tweeted in 10 days, but his Twitter account is once again news because time is a flat circle.

This is why we must now scrunch our faces, cock our heads to one side and strain to recall a weed joke shared by the chief executive on August 7, 2018. Otherwise, we’ll never understand why activist investors are shouting for the Securities and Exchange Commission to intervene in Tesla’s shrinking board.

On that fateful day, Musk said he was “considering taking Tesla private at $420” per share and had secured funding to do so. Only, he apparently hadn’t, so the SEC hit Musk with fraud charges over “false and misleading” tweets. Musk and Tesla later reached an agreement to play nice with the agency. It involved some wrist slapping.

As part of the agreement, Musk and Tesla collectively forked over $40 million, Musk temporarily stepped down as chairman, Tesla added two independent directors to its board, and Musk was told to get his tweets checked. Yet, according to a June 17 letter from SOC, an activist investor group, Tesla is now violating this deal twice over.

The group states that:
1. Tesla’s board failed to exercise “effective oversight or [establish] a credible pre-clearance process” for Elon’s tweets.
2. And, Tesla does not intend to replace Oracle CEO and island owner Larry Ellison, who is “one of the two independent directors Tesla appointed to comply” with the deal. (Tesla indicated last month that Ellison would leave his role and would not be replaced.).
Read more here: https://techcrunch.com/2022/07/01/soc- ... d-member/
Don't mourn, organize.

-Joe Hill
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caltrek
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Edit: Post removed.
Don't mourn, organize.

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raklian
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Re: The Elon Musk Thread

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To know is essentially the same as not knowing. The only thing that occurs is the rearrangement of atoms in your brain.
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