Tesla / Elon Musk in a downward spiral

originally posted by: AndyFromMichigan
Yikes! The SEC lawsuit is seeking to bar Musk from acting as an executive in Tesla.

They're actually looking to bar him from being an executive in any publicly traded company.

originally posted by: AugustusMasonicus
They're actually looking to bar him from being an executive in any publicly traded company.

And after his pot smoking stunt, the Air Force wants him out of SpaceX if they're going to continue to do business with the company.

originally posted by: Aazadan
And after his pot smoking stunt, the Air Force wants him out of SpaceX if they're going to continue to do business with the company.

Well the good news is this frees up more of his time so he can investigate those nasty pedo conspiracies he's so fond of.

a reply to: Aazadan

I think it's Musk's take on AI in particular that I admire for his speaking out about.
For a futurist at least he can forsee the downside to it.

originally posted by: Asktheanimals
a reply to: Aazadan

I think it's Musk's take on AI in particular that I admire for his speaking out about.
For a futurist at least he can forsee the downside to it.

What makes his take credible though? He's not a software developer, he's not an engineer, he doesn't actually know anything about AI. So why listen to anything he has to say on the matter?

Wow, they settled the SEC lawsuit quickly.

Musk to resign as Tesla chairman but remain CEO under SEC settlement

Musk will still be the CEO of the company, but he must resign as the chairman of the board. He and Tesla will both pay a $20 million penalty, and Tesla will have to appoint 2 new independent directors, one of whom will specifically monitor Musk's statements.

originally posted by: Asktheanimals
a reply to: Aazadan

I think it's Musk's take on AI in particular that I admire for his speaking out about.
For a futurist at least he can forsee the downside to it.

I can forsee it too, like i can forsee that a car out of control down a hill will cause destruction and possibly death and there is no way around this

I don't think figuring the obvious makes me a genius

Technology and everything else has a downside, it is not a great discovery to repeat in public what lots of people know, he just has a bigger audience

originally posted by: AndyFromMichigan
Wow, they settled the SEC lawsuit quickly.

Musk to resign as Tesla chairman but remain CEO under SEC settlement

Musk will still be the CEO of the company, but he must resign as the chairman of the board. He and Tesla will both pay a $20 million penalty, and Tesla will have to appoint 2 new independent directors, one of whom will specifically monitor Musk's statements.

That solves one crisis for Tesla, in Musks favor too really given the circumstances. Tesla still has some very weak financials though.

If I were Elon I would buy as much of that stock as possible.

He may still get vote out as CEO but I doubt it.

originally posted by: AndyFromMichigan
a reply to: IgnoranceIsntBlisss

Musk is deeply, personally involved in Tesla. If it fails, it's going to be a crushing blow to him. I don't see him as the kind of guy who'll simply shrug it off and move on.

Quite the opposite I would have thought. He appears to be extremely calm and collective in a mad scientist type way. I believe he would move onto another project and continue to advance the human race.

originally posted by: toysforadults
If I were Elon I would buy as much of that stock as possible.

He may still get vote out as CEO but I doubt it.

The SEC let him stay as CEO, largely due to the fact that a large part of the company appeal is the cult of Elon. It would further hurt shareholder value to further oust him.

The big problem the company has right now is that they need a lot of money to maintain operations, but they're short on collateral, and Elon doesn't seem like the best guy to loan money to at the moment.