In SEC fraud case, Elon Musk will pay $20 million, quit as Tesla chairman, and have a boss


#1

Originally published at: https://boingboing.net/2018/09/29/elon-musk-agrees-to-pay-20-mi.html


#2

If he could pay more money to quit his public flame out I wish he would.
Who needs it?


#3

Musk was the primary investor and thus listed as co-founder, and he’s largely responsible for the shape of Tesla today, but he didn’t found the company.


#4

He keeps running the company and the company pays the fine. Can anyone eli5 how that is any kind of punishment?


#5

Something something white collar crime.


#6

Musk pays 20million dollars and Tesla is also fined the same amount. The tweet cost 40million.


#7

They have the cash, and he has a boss now. It’s a wake up call, but not much.


#8

That was much faster than expected.


#9

As the shareholders say - it’s only money.


#10

If this gets Musk to shut up so that Tesla can get back to being known for cars rather than having a raving douche in charge, great.


#11

The new CEO is Mitt Romney of Bain Capital.


#12

He’s got a boss, but he’s still the boss, so is his boss also the boss of the people he’s the boss of, or are they just the boss of him? When is a boss not a boss? When he’s bossed by the boss? How many bosses does it take to run Tesla? 2. The boss, and the boss for the boss. Hey Elon! Boss those employees like your the boss and quit slackin! Keep it up and one day you’ll be the boss of somebody’s boss like me. I didn’t send you to boss school so you could run a company like you own the damn thing I don’t care how many shares you got! Now get out there and delegate like you mean it!

Also who’s the boss? I’d go with

/Boss.


#13

Buy TSLA now, homies. This is the kind of ‘stupid’ that causes a stock to dip but has zero to do with the underlying business model. The only other time this kind of thing happens is when a company CEO gets caught with a hooker or something-- stock dips 10% and then recovers within 3 months. The dip is bigger here because TSLA = cult of personality to a larger extent, but the principle is the same: demand is huge for their cars and they are meeting production targets. It only gets bigger/better from here.

If anything, a $40M slap on the wrist to stop tweeting dumb shit will only enhance that stock further.

Buy now (and yes, I own quite a few shares, thanks).


#15

In SEC fraud case, $20 million says (or not) they’ve started picking suits according to (some nameable, way cheaper than $20M) winnability algorithm game rather than legal theory of fraud?

I need a good Pumpers/Dumpers gang fight script, is that a category someplace? Borklist? American Insecurities Exchange Ohfarkfarkfark?


#16

You have such a way with words.


#17

I’ll tip my hat to the new constitution
Take a bow for the new revolution
Smile and grin at the change all around


#18

Not that Tesla isn’t a “buy” right now, but just for the record: it’s been a while since stock prices had anything to do with the underlying business model.


#19

whispers crappy rumour
*share price drops
“I’m a financial genius!”

I didn’t miss a step, did I?


#20

Good for Tesla and subtly good for Musk. It sounds like he’s been fraying at the edges lately. Granted taking time off and seeing a therapist would have been cheaper than 20 mill. but whatcha gonna do, yaknow?


#21

You need to buy the options first.
And make up your mind whether you want to go short or long.

… and whisper loud enough into the right ears.

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