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Old 02-26-2019, 10:10 AM   #901 (permalink)
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Actually there is an almost imperceptible line between savant and idiot unless you are using the IQ as the dividing line the idiot doesn't know, the savant doesn't care


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Old 02-26-2019, 10:16 AM   #902 (permalink)
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Originally Posted by jakobnev View Post
I read Elon responded that the information on production numbers was already publicly available.
The issue is whether somebody from Tesla reviewed the original tweet before it was published.
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Old 02-26-2019, 10:28 AM   #903 (permalink)
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At the current rate Tesla builds 1,000 Model 3's per day.
According to Bloomberg they are at over 55,000 for Q1 so far, over 56 days.

If they maintain that rate they'll end up having built 365,000 Model 3's in 2019.
Add to that 45,000 model S and 50,000 Model X and Tesla already way surpasses 400,000 cars.

And that's only if Tesla won't increase production rates.
Only a slight increase is needed to make Musk's original tweet true.
Then we may see the SEC, after taking its time, finally issue a penalty the day the 500,000th Tesla made this year leaves the factory, somewhere in November...
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Old 02-26-2019, 11:38 AM   #904 (permalink)
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It's like probation rules; it's not against the law to have a beer, but it might be a violation of the terms of probation.

...if I were Musk, I'd have deleted the Twitter account a long time ago. I have a fake account using a burner email just to take advantage of certain deals that require you to Tweet something. Having no followers, my Tweets are useless, which is really a minor distinction between those who have followers.
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Old 02-26-2019, 01:14 PM   #905 (permalink)
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Actually there is an almost imperceptible line between savant and idiot unless you are using the IQ as the dividing line the idiot doesn't know, the savant doesn't care
It isn't so much a line as a wrinkle: https://duckduckgo.com/?q=dunning-kruger+effect
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Old 02-26-2019, 06:16 PM   #906 (permalink)
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Quote:
Originally Posted by RedDevil View Post
Only a slight increase is needed to make Musk's original tweet true.
Then we may see the SEC, after taking its time, finally issue a penalty the day the 500,000th Tesla made this year leaves the factory, somewhere in November...
Tesla's production numbers don't matter. What matters is if someone from Tesla is reviewing every one of Musk's tweets before he publishes them.

The judge has given Tesla until March 11th to explain why Tesla and Musk should not be held in contempt of court for violating the SEC agreement.
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Old 02-26-2019, 11:11 PM   #907 (permalink)
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Quote:
Originally Posted by JSH View Post
Tesla's production numbers don't matter. What matters is if someone from Tesla is reviewing every one of Musk's tweets before he publishes them.

The judge has given Tesla until March 11th to explain why Tesla and Musk should not be held in contempt of court for violating the SEC agreement.
The settlement requires someone review every form of communication that contain or could reasonably contain information material to the company or it's shareholders.

SEC Settlement With Elon Musk

I think Musk's response is something along the lines of the info he tweeted not being material because it had already been disseminated in the quarterly earnings call and/or the quarterly update letter.
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Old 02-26-2019, 11:58 PM   #908 (permalink)
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Quote:
Originally Posted by jakobnev View Post
I read Elon responded that the information on production numbers was already publicly available.
Hard to have actual production numbers for 2019 when we're not even two full months into the year.

Quote:
Originally Posted by Piotrsko
Actually there is an almost imperceptible line between savant and idiot...
Except that in Musk's case, it's not a line, it's a sine wave. Whenever he does something really smart, he has to go do something really dumb to balance it out.
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Old 02-27-2019, 02:40 AM   #909 (permalink)
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Quote:
Originally Posted by JSH View Post
Tesla's production numbers don't matter. What matters is if someone from Tesla is reviewing every one of Musk's tweets before he publishes them.

The judge has given Tesla until March 11th to explain why Tesla and Musk should not be held in contempt of court for violating the SEC agreement.
Put like that the SEC agreement itself violates the law.
But IIRC Musk was to have his tweets monitored whenever that tweet contains stock market sensitive data, like yet unpublished projections of production numbers.

But was that tweet market sensitive, really?
In the past Tesla has voiced the expectancy to produce 10,000 model 3's a week by mid 2018... So the claim that Tesla would produce 'about' half a million cars in 2019, all models combined, is hardly surprising.

Moreover, at the current production rate half a million is very likely indeed. The stock market should expect Tesla to build that many cars.
So how can it be market sensitive information?

But of course, Musk had better compared the 0 cars made in 2011 to the 245,000 or so produced in 2018. He only wanted to make a point of Tesla's spectacular growth after all.
And he definitely should not have sent the corrective tweet afterwards- because it feeds the distractors and is BS anyway. Only 400,000 cars? Are they going to slow down production then?

Anyway, I expect Musk to receive a fine. That's fine. And when Tesla crosses 500,00 this year, they'll get a free media storm in their favor for getting a fine for tweeting the truth.
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Old 02-27-2019, 11:16 AM   #910 (permalink)
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Quote:
Originally Posted by roflwaffle View Post
The settlement requires someone review every form of communication that contain or could reasonably contain information material to the company or it's shareholders.

SEC Settlement With Elon Musk

I think Musk's response is something along the lines of the info he tweeted not being material because it had already been disseminated in the quarterly earnings call and/or the quarterly update letter.

From the SEC settlement:

Within 90 days of the filing of the settlement documents, Tesla will:

Further enhance controls with respect to Elonís public communications regarding Tesla and to pre-approve any such written communications that
contain, or reasonably could contain, information material to Tesla or its stockholders.

Employ or designate from among its existing personnel an experienced securities lawyer, subject to approval by the Staff, to advise on securities
issues relating to Tesla and to ensure compliance with Teslaís disclosure policy



Pretty clear. The tweet contained information material to Tesla. It had to be pre-approved.

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