Tesla Model 3

[redpoint5]

Who respects the SEC? They suck, have arbitrary rules, and arbitrarily enforce them.

You have real criminals like Madoff everywhere, and they don't catch those guys, but then thank goodness we locked away Martha Stewart and penalized Musk for a dumb Tweet, a Tweet which any reasonable person would know is not to be taken as something to take seriously with respect to financial transactions, and which we should have zero sympathy if someone wants to gamble on the Tweet and ends up burned.

You play the stock market; you deserve whatever the outcome is.

Speaking of the stock market; it's a horribly stupid idea. You generate revenue for a company 1 time, and forever until eternity generate needless analysis of company performance, speculation, and stock trading. None of the activities which follow have any real value for an economy, and in fact represent wasted time.

It's like I take out a loan from the bank to purchase a house, and until the end of time and long after I'm dead, people speculate on how well I'm running my household and make bets on it. Pointless. Lunacy. SEC sucks.

[oil pan 4]

Musk is going to cause him self to get voted off his own island.

That's why there are still a few private companies out there.
Some big enough to land on the top 10 of the S and P if they ever went public.

Don't hate the playa, hate the game.

[MetroMPG]

Originally Posted by samwichse

You heard it here first!

Elon's crapmobiles only last a week before they're invariably destroyed by trees! Don't buy! Terrible cars, trees love them.

Maybe the tree just hugged the car back - a little too hard.

[redpoint5]

Musk sucks at several important things too, and he would be wise to realize what he sucks at and allow others to control those domains in which he's terrible. Among his top weaknesses is in avoiding unnecessary micromanagement and lack of humility.

He's clearly a poor speaker, so there should be an appointed spokesperson even though we all like to see the genius speak. At minimum he should have a coach that both reviews the content and helps with the awkward way in which Musk speaks.

[JSH]

Originally Posted by RedDevil

Saying he does not respect them but will abide the settlement does not sound extreme to me. But you read something different. Why is that?

You might read a bit early than what you quoted:

From CBS:

His warzone tweeting drew fire when out of the blue in August he tweeted, quote: "Am considering taking Tesla private at $420. Funding secured." The SEC disputed that claim and charged him with securities fraud. The case was settled with Musk agreeing that his "communications relating to the company… including… Twitter" would be overseen by his board.

Lesley Stahl: Have you had any of your tweets censored since the settlement?

Elon Musk: No.

Lesley Stahl: None? Does someone have to read them before they go out?

Elon Musk: No.

Lesley Stahl: So your tweets are not supervised?

Elon Musk: The only tweets that would have to be say reviewed would be if a tweet had a probability of causing a movement in the stock.

Lesley Stahl: And that's it?

Elon Musk: Yeah, I mean otherwise it's, "Hello, First Amendment." Like Freedom of Speech is fundamental.

Lesley Stahl: But how do they know if it's going to move the market if they're not reading all of them before you send them?

Elon Musk: Well, I guess we might make some mistakes. Who knows?

Lesley Stahl: Are you serious?

Elon Musk: Nobody's perfect.



I read about it here: https://www.investopedia.com/4-takea...erview-4580249

[RedDevil]

I read that.
So? The board check does not extend to communications that are not trade market sensitive - they can't be (first amendment).

Musk should not mention trade sensitive information (about stocks or finances etc) in tweets anymore. But there will always be a grey area; you cannot be certain about what effect a tweet will have to the monkey pit.
That's what I read in his explanation.

[JSH]

Every communication by a CEO has the potential to move markets. There isn't a grey area in the settlement. It says ALL communication must be reviewed and specifically includes Musk's social media posts.

The first amendment doesn't apply to criminal settlements. If Musk didn't like the terms of the deal he could have tried for something better in court.

[freebeard]

Originally Posted by oil pan 4

Musk is going to cause him self to get voted off his own island.
....
Don't hate the playa, hate the game.

I'd actually like to see that, to see what industry Mr. Musk would disrupt next.

The stock market itself wasn't that bad, until the invention and dominance of the derivatives markets. Those are the ones sitting on their b*tts, betting on whether someone will get up and do some work.

[redpoint5]

Derivatives- Start with a bad idea and figure out how to make it worse.

The whole thing is pointless and begs to be abused by bad actors.

What's wrong with traditional lending if capital needs to be raised? Use the business as collateral. Same effect, but it doesn't spawn infinite trading and speculating. I get the allure of money that doesn't have to be repaid or accrue interest payments, but the long term consequences to national productivity are harmed.

Perhaps there is some net benefit to a stock market, but it seems far from the ideal solution to the problem of gaining fast and cheap money.

[Fat Charlie]

Stocks are a great idea.

If you and a few friends want to start a business together you all chip in what you can (money/skills/equipment) and everyone has a share. But if one of you chips in twice as much as everyone else or brings unique skills to the table, their ownership share is a little bigger. Maybe 2 or 3 shares.

When you scale it up from a few friends doing something together to, say, a transcontinental railroad, you need more people buying shares. And yes, you need people buying in. A bank may get talked into lending money to start a resraurant, but they're not into risk. At least not a real bank.

Once the company is running, stocks still serve a purpose. You can invest as much or as little as you want/can. You can get out of a business just by finding someone who wants in, and as long as you own a chunk of it you don't want management doing something to destroy its value.

Yes, you get people gaming it. But it still really helps.