Elon Musk: Discussion Thread

AssassinatedDevil

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Elon Musk can’t stop tweeting, but so far it doesn’t matter

Seen from above, the mountainous national park directly above Tham Luang Nang Non, the Great Cave of the Sleeping Lady, appears tranquil — like someone lying on their side, if they were furred with trees and ran the along much of the length of Thailand’s border with Myanmar. It hardly seems like the site of a two-week-long, 10,000-person rescue operation that would pit the resolve of at least one government against the near-constant rain of the country’s monsoon season, in a contest to save the Wild Boars, a local boys soccer team. It’s unlikelier still as a battleground for international public opinion about Elon Musk, the billionaire founder of Tesla, which produces luxury electric cars, and SpaceX, which stages private rocket flights for the American government.

Nevertheless, it was. Two weeks ago, a week into the world watching rescue efforts progress, Musk announced he would step in to help. He’d ordered his engineers at SpaceX and the Boring Company, which aims to use tunnels burrowed under cities to clear traffic on the streets above, to head to Thailand to see if they could find a way to get the kids out. The engineers decided to repurpose a liquid oxygen transfer tube from one of SpaceX’s rockets as a child-sized submarine, eventually simulating a cave rescue with divers in a pool in Los Angeles. The sub — which Musk named Wild Boar, after the soccer team — eventually made it to Thailand near the end of the rescue effort.

Not everyone was satisfied with Musk’s efforts. Vern Unsworth, a veteran British cave diver who helped with the rescue, called the sub a “PR stunt” and said that Musk could “stick his submarine where it hurts” in an interview. (As The New York Times noted, Thai officials had previously called Musk’s submarine impractical for the rescue mission.) Musk, in a state of overwork — the rescue mission began just after Tesla’s sprint to produce 5,000 Model 3s in one week ended — did not take kindly to Unsworth’s words, retorting with a series of angry tweets. In them, he called Unsworth “a pedo guy,” among other things; they’ve since been deleted, and Musk offered a half-hearted apology, in a reply to an unrelated Twitter user, after Tesla’s stock tumbled by 3 percent.

But the incident has not shaken the faith of his devoted fandom, which has come out in droves to support him. On Tuesday, Musk retweeted a fan who declared that “journalism is dead” and linked to a Quora post that defended Musk at length, both for his involvement in the rescue mission and his now-infamous “pedo” tweet. Similar defenses were mounted by other fans and friends of Musk, including Bonnie Norman, an early Tesla investor and Musk acquaintance who posted a thread on Twitter defending the CEO. “You don’t get to attack someone repeatedly & then clutch your pearls while reaching for your smelling salts when your target finally reacts. You’re a bully,” she wrote. “I have watched for over a week as mob mentality has taken over. Evidence that Elon’s help was welcomed? Ignored. More evidence? Ignored. But a British diver says Elon can ‘stick his submarine where it hurts’ & it’s a mob feeding frenzy.”

I got in touch with some people I’d spoken to for a previous story about the billionaire’s fandom to hear what they had to say. Musician Jim Ocean, the composer of a laudatory song called “The Future Smells Like Elon Musk,” was also dismissive of the criticisms of Musk. “I think Musk was being sarcastic with the ‘pedo’ remark. It was a dumb thing to say,” Ocean wrote to me in an email. “Elon Musk is bound to make mistakes... He’s not a perfect human being, but he does know how to inspire people and get things done. Maybe he’s pushing too hard cause he’s getting blowback. Can you think of anyone else that’s doing as much as he is to embrace the future and help bring the human race forward?”

IT specialist and Musk fan Corey Brundige condemned the “pedo” tweet — “I found [it] to be absolutely abhorrent,” he wrote — and said that he would like Musk to seek professional help. Even so, he also pointed out that Musk’s tweets would have little impact on his companies. “Short-term, there may be some blowback, but ultimately the advances being made, perceived or real, are a high that both investors and tech-enthusiasts aren’t willing to give up. Elon and his companies can generate good (or at least more interesting) press when the other is being hammered by ill will.”

Fans love him for his gestures, his apparent willingness to try and better the planet. Whatever missteps he makes are overshadowed by his optimistic promises of bettering the world. The fact that Musk dropped everything to attempt to help a soccer team stuck in a flooded cave on the other side of the planet comes off as heroic. What other billionaire would leave his company after one of its most successful (and stressful) weeks, and then use his expertise to design a solution to the problem (even if that solution was immediately deemed unworkable)? Only Musk. That’s part of his aesthetic as a leader (to fans) and a figurehead (to investors).

Ultimately, investors haven’t been deterred either, despite his long line of digital missteps. Even in the last few months, Musk’s tweets and online antics have gotten him into similar public relations trouble. Famed short-seller Jim Chanos, who’s been shorting Tesla for years, recently spoke to CNBC about how Musk had attacked him on Twitter, claiming that Chanos had bribed a journalist for inside information on Musk’s company. “We talk to journalists all the time. We have never received insider information from any journalist at any time, including Tesla,” said Chanos. “These are serious charges,” he said. “When you make serious charges, you ought to bring serious evidence.”

There was also the time he joked about Tesla going bankrupt in April, which sent stocks falling by 5.16 percent. The next month, on a bizarre May 2nd investor call, Musk decided to take questions from a YouTuber. The stock opened at $278.79 the next morning — a 7.4 percent drop from its close the day before.

On its face, this seems worrying, and critics took note of his erratic behavior. “Over the last 6 months, there have been too many examples of concerning behavior that is shaking investor confidence,” wrote the venture capitalist Gene Munster, who does not own shares in Tesla, in an open letter published on July 17th. “In our view, your outburst at analysts on the March 2018 earnings call, your ongoing frustration with short sellers and the media, your June email exchange with the saboteur, and your confrontation on Twitter with cave diver Vern Unsworth each raised flags with investors.” Munster was firm about what it would mean for Tesla if Musk failed to control himself online. “Your behavior is fueling an unhelpful perception of your leadership — thin-skinned and short-tempered.”

The stock bounced back anyway. Musk called Unsworth a pedophile on July 15th, a Sunday; by 1:45PM ET the following Tuesday, before his apology the next day, Tesla stock was trading at $324.10 per share, higher than it had been before Musk’s comments. There’s a pattern. Tesla stock dips and then shoots back up after Elon convinces investors that they haven’t made a mistake for believing in him. And while his behavior may have left some investors unnerved, it hasn’t done any permanent damage to his companies — at least so far.

The series of incidents hasn’t deterred him from tweeting, either. According to Twitter data gathered on Musk’s account, the number of times he’s tweeted has been steadily increasing since at least September of last year. Last July, Elon Musk had 10.81 million followers on Twitter. A year later, he’s more than doubled that to 22.3 million. He’s also been tweeting more; this June, he tweeted 86 times, or nearly three times per day.

Part of the problem is that Musk’s tweets weren’t, until recently, a problem. Musk is a charismatic leader, and his visibility, combined with his willingness to mix it up online, has pushed Tesla’s valuation to its current eye-popping $54 billion — despite that the company has never turned a yearly profit. Tesla investors and fans alike believe in the promise of a dreamer who’s nevertheless managed to do, via his companies, a lot of what he’s set out to.

But it seems that even Musk realizes that his inflammatory tweets aren’t always the wisest course of action. In a recent interview with Businessweek, the Tesla CEO told a reporter about his Twitter philosophy. “If you’re on Twitter, you’re in the arena,” Musk said. “And so essentially if you attack me, it is therefore OK for me to attack back. Is there a place where you think I launched an attack on someone who has never attacked me?” And then: “So the question is: If somebody attacks you on Twitter, should you say nothing? Probably the answer in some cases is yes, I should say nothing. In fact, most of the time I do say nothing. I should probably say nothing more often.” A little over a week later, he tweeted at Unsworth.

The Wild Boars were eventually rescued after a grueling effort that claimed the life of one Thai Navy SEAL. In their first public appearance since their escape, the boys, all aged between 11 and 17, were joyous. They took pre-screened questions from the assembled media; one person asked about the lessons they’d learned from their ordeal. Ake, their coach, replied that he was going to live more carefully. Ardun, the stateless 14-year-old who coordinated with the team’s rescuers because he was the only one who spoke English, said the experience had taught him the consequences of acting carelessly. For now, at least, it’s a lesson that Musk has no apparent reason — or willingness — to learn.

https://www.theverge.com/2018/7/19/17588574/elon-musk-twitter-cave-rescue-investors-tesla
 
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Musk is aptly named the real life iron man. His insight into how the world works and his research into sustainable and renewable energy really is inspiring. The teslas he makes arent too shabby either.
 
Musk's ideas have all been tried before, so he isn't the 'revolutionary' that some of his sycophants would have you believe. But that is not his biggest issue. I wish he would be more realistic with his ideas and focus more energy on getting them work than on pushing himself and his work on social media. He should let his work speak for itself.
His SpaceX was very nearly a disaster, saved only in time by the 4.5 billion USD NASA contract to supply the ISS. They ain't going to Mars anytime soon, let alone establish a colony there by 2025. They seem to be massively underestimating the technological challenges involved.
The Boring Company is possibly a non-starter and the Hyperloop already has competitors. Remains to be seen how Musk will handle these.
Which brings me to his potentially most successful project - Tesla. This of course, can be a wonderful idea and is most definitely realisable on a commercial scale. If Musk can popularize electric vehicles and put the old hags in the oil sector out of business, he will go down as one of the greatest men in the history of mankind. But there are too many rumours about bad management at Tesla and way too many questions about its financial situation. Of course, they can all be dismissed as bad rumours made by jealous folks but the fact remains that there is no smoke without a fire.
And then there is the car itself. I haven't driven it but by most accounts, it is a wonderful experience. But like all environmentally friendly things it is too expensively priced at USD 100,000 a pop (for the Model S). It is highly unlikely that most people, other than a few rich folks with either genuine or fashion-driven concern for the environment, will choose it over the Mercedes Benz C or E Class. And let’s not even get talking about the tens of millions of fossil fuel burners driving Ford Focuses, Fiat Puntos and other cheaper makes to whom, in my opinion, most environmentally friendly technologies must be designed for.
Elon is the kind of person who gets produced very rarely indeed, and people like him can genuinely make a difference to mankind. But he needs to keep his ego in check and stop biting back at his detractors every time something bad is said about him. Case in point, his attempts at saving the Thai football team from the cave and the bashing fest on social media that resulted.
Whatever you say about the man, it is beyond doubt that he has a dream and a vision for a better world. This is something that cannot be said about most of the people, particularly big businessmen. I hope realism prevails with men like Musk, and that the world is genuinely bettered by their vision.
 
bump... has he proved everyone wrong?

Stock price at 524$ .. will he end up being the most important person of this century? Weed smoking narcissistic genius.
 
Demand for Tesla's electric cars held up in the first three months of the year, despite upheavals caused by the coronavirus pandemic.

Quarterly revenues jumped 30% from last year to $5.9bn (£4.7bn), allowing the firm to turn a small profit of $16m.

It is the third quarterly profit in a row for the company, marking a turnaround after years of losses.

But Tesla said forced shutdowns and limits on deliveries had clouded its forecast for coming months.

"Frankly I would call it forcibly imprisoning people in their homes against all their constitutional rights...that's my opinion," Tesla boss Elon Musk, who has been opposed to the lockdown measures, told investors in an earnings call on Wednesday.

"It will cause great harm, not just to Tesla but to many firms. While Tesla will weather the storm, there are many small companies that will not.

"And all of people's - everything they've worked for their whole lives has been destroyed in real time.

"We're going to have, and have many suppliers that are on super hard times, especially the small ones, and it's causing a lot of strife to a lot of people."

He added that Tesla was "a bit worried about not being able to resume production in the Bay area", and said this should be considered "a key risk" because the firm only has two car factories - one in Shanghai and one in Fremont, California.

Mr Musk stressed that he did not mind if people wanted to stay at home, but he was concerned that citizens were being forced to lose their livelihoods as the lockdown continued.

Mr Musk had resisted closing Tesla's main car factory, located in California, waiting several days after the state's shelter-in-place order in March to formally suspend production.

More recently, he has celebrated plans to relax lockdown orders, writing on Twitter "FREE AMERICA NOW" early on Wednesday. He had previously dismissed concerns about the coronavirus as being "dumb".

Tesla said it still had the ability to deliver more than 500,000 cars this year, despite announced shutdowns. But it warned that this could change, as re-opening dates remain unclear.

"It is difficult to predict how quickly vehicle manufacturing and its global supply chain will return to prior levels," the firm said.

"Due to the wide range of potential outcomes, near-term guidance ... would likely be inaccurate.

"For our US factories, it remains uncertain how quickly we and our suppliers will be able to ramp production after resuming operations. We are coordinating closely with each supplier and associated government."

Tesla's performance comes as car sales have plunged. Ford earlier reported a $2bn loss in the first quarter and warned investors that it expected another $5bn hit in the April-June period.

Nicholas Hyett, equity analyst at Hargreaves Lansdown, thinks it is no surprise that Tesla is withdrawing guidance, given the economic risks ahead.

"If the world slips into a potentially dramatic economic slowdown, demand for big ticket items will likely fall and we would be very surprised if Tesla escape unscathed," he said.

"Given that the group's only recently achieved sufficient scale to be sustainably profitable, that would be less than ideal."

Mr Musk's commentary on the virus, which has also included promotion of unproven medicines, has drawn outcry.

It has also revived memories of the controversies he stirred using the social media platform two years ago, when he made several accusations against a British cave diver following a rescue operation in Thailand.

https://www.bbc.com/news/business-52479563
 
X Æ A-12: Elon Musk and Grimes confirm baby name

Elon Musk and singer Grimes have confirmed they have named their baby X Æ A-12.

The Space X CEO announced the birth of their son on Monday. "Mom & baby all good," he said on Twitter.

He posted that the child would be called X Æ A-12 Musk and his girlfriend later offered an explanation to her followers on social media.

The name X Æ A-12 has been trending on Twitter with many asking how the name will be pronounced.

What does the name mean?

When Musk, known to joke on Twitter, announced the name, many people questioned whether he was being serious.

However, Canadian singer Grimes, real name Claire Boucher, explained the name's meaning to her fans.

Æ, a ligature of a and e known as ash, appeared in Latin and Old English but has mostly fallen out of use. However, in some languages such as Danish, Norwegian and Icelandic, Æ is classed as a letter.

The singer has used Æ before, naming a song on her latest album 4ÆM.

The A-12 is a Lockheed plane built for the CIA. It was known by designers during its development as Archangel.

She also claims Archangel is her favourite song but does not explain who the song is by.

It remains unclear how the name is pronounced. However, when someone on Twitter asked Musk whether it could be X Ash Archangel, Musk liked the comment, giving the biggest clue as to how it might sound.

https://www.bbc.com/news/world-us-canada-52557291
 
X Æ A-12: Elon Musk and Grimes confirm baby name

Elon Musk and singer Grimes have confirmed they have named their baby X Æ A-12.

The Space X CEO announced the birth of their son on Monday. "Mom & baby all good," he said on Twitter.

What a ridiculous name!

It can't be pronounced without twisting one's tongue, and cannot be typed on a keyboard unless one knows the Alt- sequences by heart.

But of course, the baby is a celebrity born with a golden spoon in its mouth. I guess it's all that matters.
 
Bizarre stuff. :danish

Imagine the bullying the child gets - these people don't think about that.
 
Tesla factory ‘must not reopen’ as lockdown tensions grow

Stay-at-home restrictions have deeply divided opinion in the US, pitting businesses against state governments, and some people against politicians.

Tech entrepreneur Elon Musk, in particular, has regularly bemoaned the restrictions in controversial tweets.

He was planning to restart limited production at the factory of his electric car firm, Tesla, in San Francisco on Friday.

But officials in Alameda County, where the factory is based, have thrown a spanner in the works, telling the firm it must not reopen.

Under the county’s lockdown order, only essential businesses are allowed to reopen.

"Tesla has been informed that they do not meet those criteria and must not reopen," Alameda County said.
 
This guy whined about the lockdown so much so he could get back to making money and as the US finally starts to open up he still can't make his money yet :)
 
Such a disappointment! Has so much intelligence yet lets his emotions ruin so much of it.
 
I genuinely think Elon Musk is evil and has the potential to become a supervillain.

Also it was hilarious to see him change his profile picture to Deus Ex because if he were a Deus Ex character he would be one of the bad guys.
 
Elon Musk vows to move Tesla factory in lockdown row

Billionaire Tesla boss Elon Musk has said he will move the electric carmaker's headquarters out of California, after he was ordered to keep its only US vehicle plant closed.

"Tesla will now move its HQ and future programs to Texas/Nevada immediately," the CEO tweeted.

The company was filing a lawsuit against Alameda County, he added.

The county's health department had refused to let the Tesla factory reopen on Friday, citing lockdown measures

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependen on how Tesla is treated in the future. Tesla is the last carmaker left in CA.</p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1259162367285317633?ref_src=twsrc%5Etfw">May 9, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

According to figures from Johns Hopkins University, 2,632 people in California have died with coronavirus.

Since 23 March, all but "basic operations" have been suspended at Tesla's Fremont plant, near San Francisco, because of "shelter in place" orders enacted in Alameda County. The factory employs more than 10,000 workers, and makes about 415,000 vehicles every year.

California's government has eased some restrictions around the state this week, allowing businesses to resume operations. But several Bay Area counties have issued their own criteria for which businesses may reopen, which take precedence.

In Alameda, all but essential businesses must remain shut until the end of May.

Mr Musk suggested the factory's future could now be in doubt, tweeting: "If we even retain Fremont manufacturing activity at all, it will be dependen[t] on how Tesla is treated in the future."

In a statement released before Mr Musk's tweets, Alameda County said: "We welcome Tesla's proactive work on a reopening plan, so that once they fit the criteria to reopen, they can do so in a way that protects their employees and the community at large."

Mr Musk, 48, who welcomed a baby with Canadian singer Grimes earlier this week, wiped $14bn (£11bn) off Tesla's value on 1 May after tweeting that its share price was too high.

He has donated over 1,200 ventilators to hospitals in the US to assist with treating coronavirus patients.

The tech billionaire has also poked fun at the mass purchasing of toilet paper when the pandemic began. But he has also sparked controversy for promoting an unproven treatment for the virus, and for asserting, falsely, that children are "essentially immune".

Mr Musk has continually voiced his opposition to "fascist" lockdown measures, tweeting "FREE AMERICA NOW" last month.

Tesla has suspended operations at its plant in the Chinese city of Shanghai, according to Bloomberg. It had previously closed the factory as a temporary measure when the virus was at its peak in China.

The company reported a net profit in the first three months of this year, and its stock has risen to nearly $820 (£669; €756). But analysts expect the coronavirus pandemic will adversely affect its earnings in 2020.

https://www.bbc.com/news/world-us-canada-52601750
 
Tesla has reopened its only US electric car plant in California, despite local orders against manufacturing.

On Monday, the company's chief executive Elon Musk tweeted that production had restarted and he would be "on the line with everyone else".

US states and local governments are trying to determine the best way to open up after lockdown.

Mr Musk previously vowed to move the firm's headquarters out of California if the plant was not allowed to reopen.

While the state has eased restrictions to allow manufacturing, Alameda County, where the Fremont plant is located, has not. The town is about one hour south of San Francisco.

On Saturday, Elon Musk said that Tesla had filed a lawsuit against the county asking a court to remove the order that prevents the carmaker from resuming production.

Rather than wait for a ruling, Mr Musk announced on Twitter on Monday that the plant would reopen.

The local police department said that it was aware of the situation, but that it would act at the discretion of county health officials.

The Alameda County Public Health Department said on Monday it was "actively communicating" with Tesla about reopening plans and that it was taking the same approach it had taken with other business that had violated lockdown orders.

In an email seen by Reuters, Tesla also reportedly told workers the decision to reopen was in line with California guidelines.

Mr Musk wrote on Twitter that Tesla had been "singled out", saying that other US carmakers were allowed to restart production.

Pictures of the Tesla car park on Monday showed it mostly full. The plant has been closed to all but limited essential operations since 26 March.

Production outside of California

Tesla opened a plant in Shanghai last year and it is building another outside of Berlin, but Fremont is home to Tesla's headquarters and its primary manufacturing facility.

On Saturday, Mr Musk said he would relocate the US plant to another state if necessary to restart production.

Officials from Texas, Utah, Georgia and Nevada, where Tesla already has a battery assembly plant, had reached out to Twitter offering incentives to move their jurisdictions.

US Treasury Secretary Steven Mnuchin said on Monday California "should prioritize" helping Tesla reopen because it was one of the biggest manufacturing employers in the state.

The state's governor, Gavin Newsom, said that he had spoken with Mr Musk last week and that his concerns were part of the reason California decided to phase in manufacturing as it slowly lifts lockdown measures.

https://www.bbc.com/news/technology-52627744
 
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">California should let Tesla & <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> open the plant, NOW. It can be done Fast & Safely!</p>— Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/1260203080076931072?ref_src=twsrc%5Etfw">May 12, 2020</a></blockquote>
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Tesla wants to start building a new U.S. vehicle plant this summer

Electric vehicle maker Tesla Inc (TSLA.O) wants to start building a large vehicle assembly plant in the southwestern United States as early as the third quarter of this year, the company told Texas officials in documents made public this week.

But the company is still pitting Texas and Oklahoma against each other in an effort to secure tax breaks, the documents show. The plant would build Tesla’s electric pickup truck and Model Y SUV, according to reports.

Tesla told officials in Travis County, Texas, the automaker wants to invest about $1 billion to build a 4 million to 5 million square foot vehicle assembly plant employing 5,000 people on the grounds of what is now a cement operation near Austin. But it needs tax breaks to make the site competitive with an alternative location in Oklahoma, according to documents filed with Texas officials.

The Austin-American Statesman reported details of the company’s filings.

Tesla officials could not immediately be reached for comment, but Tesla Chief Executive Elon Musk previously hinted about a Texas plant, and Texas Governor Greg Abbott has spoken with Musk about the possibility.

Tesla’s sole U.S. vehicle assembly plant in Fremont, California, covers 5.3 million square feet - a large plant, but not large enough for the growing company. Tesla has had to build cars under a tent adjacent to the plant.

Musk clashed with California officials after Alameda county officials ordered the Fremont factory to halt production and comply with coronavirus stay-at-home orders that took effect in March. He threatened to move future operations to Texas or Nevada. The California plant has since reopened.

https://uk.reuters.com/article/uk-t...-vehicle-plant-this-summer-idUKKBN23P37Q?il=0
 
5 years ago I actually slightly admired Elon Musk. Thank God I grew up
 
It's crazy how Tesla are so overvalued compared to the established automakers but they just keep soaring to all time highs on the stock market recently. Last 3 quarters they have been profitable, if they are profitable in the next quarter they may enter the S&P 500 component and also could potentially break even this year after beating estimates for deliveries in the recent quarter which are rumoured to be driven by Model Y and Model 3 success in China
 
Tesla keeps on flying! Will it stop growing at this crazy rate?
 
Tesla keeps on flying! Will it stop growing at this crazy rate?

It has helped me cut almost all my losses but am holding for now although it is a tough decision. The current hype surrounds it potentially being profitable for Q2 (results to be reported July 22) ; if this is the case they would have been profitable for 4 succesive quarters completing the final eligibility criteria to enter the top S&P 500, their deliveries reported recently for Q2 exceeded expectations and are currently driving the hype. As for your question, you just never know with Tesla lol it also has a short against it close to 20 billion (largest ever short for a any stock) meaning there are investors betting against it spiking up and expecting it to fall; however I had been waiting for it to drop significantly when it was between 600-900 but it has just kept going up, it is certainly overvalued no doubt about that but can't overlook the recent gains either.
 
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Tesla workers: 'We all feel abandoned'

Workers at Tesla have expressed concerns over their safety after reports that more than 100 employees at a plant in California have tested positive for Covid-19.

An industry blog reported that some 1,500 employees have possibly been exposed to the virus.

Staff say their concerns have been ignored and that social distancing and hygiene rules are not being followed.

"I feel abandoned, we all feel abandoned," Tesla employee Branton Phillips told CBS News. “One day somebody is sick and we know that - next day the three to four guys that worked around him are also gone and we’re not told anything."

Staff say the company told them they could stay home if they felt ill or uncomfortable, but Phillips told CBS that is not a feasible option for many workers.

The Fremont plant employs around 10,000 people. Tesla has not commented on this matter to local media.

The plant was at first forced to shut down amid California's lockdown orders, but Tesla chief Elon Musk fought with county officials to reopen it in May.
 
It's their tech. They are a data first company. Being an automotive enthusiast, I can safely say it will take traditional automakers 10-15 years to catch up to what Tesla has in the market now. They are a vertically integrated company who does not rely on suppliers for it's most important tech which is battery and autonomy.
 
Elon Musk briefly becomes fifth-richest person

Tesla chief Elon Musk briefly became the fifth richest person at the start of the week, thanks to the electric car-maker's soaring share price.

His net worth reached $74bn (£58.5bn).

Tesla’s share price has since fallen slightly, however, putting Mr Musk in eighth place, according to the Forbes World's Billionaires List.

In a related development, his wealth could be further buoyed as he has just gained the option of buying and selling $2.1bn worth of Tesla shares.

In a pay deal approved by shareholders in 2018, Mr Musk obtained the right to buy 1.69 million shares once Tesla’s stock had reached an average market capitalisation of $150bn over a period of six months.

However, the electric-car company’s board still has to certify the option and Mr Musk has not yet bought the shares in question.

He would also have to wait several years before being allowed to sell them.

'Too high'
Tesla’s share price has nearly quadrupled since the start of the year, from $430 to about $1,550.

But the company has yet to turn a full-year net profit, leading some analysts to argue its stock is currently overvalued.

On 1 May, Mr Musk himself tweeted Tesla’s share price was too high.

The entrepreneur has said the reason he seeks to acquire personal wealth is to fund his efforts to send people to Mars.

https://www.bbc.co.uk/news/technology-53500252
 
Elon Musk's SpaceX in talks to raise funds at $44 billion valuation - Bloomberg News

Billionaire Elon Musk’s SpaceX is looking to raise new capital at a valuation of about $44 billion, Bloomberg News reported on Thursday, citing people familiar with the matter.

The company is in talks with investors for raising about $1 billion at a price of $270 a share, the report said, adding that the round is unlikely to be completed within the next couple months and terms could change. (bloom.bg/32M8h2v)

SpaceX did not immediately respond to a Reuters request for comment.

SpaceX’s Crew Dragon capsule delivered NASA astronauts Bob Behnken and Doug Hurley to the International Space Station in May, marking the first U.S. space capsule to do so with a crew since 2011.

The private rocket company also raised $346.2 million in May at a valuation of about $36 billion.

Musk is also the chief executive officer of electric carmaker Tesla Inc (TSLA.O).

Tesla on Wednesday posted a profit for four straight quarters, a condition for it to be considered for the stock index of the largest U.S. companies.

https://uk.reuters.com/article/uk-s...n-valuation-bloomberg-news-idUKKCN24O2MC?il=0
 
Egypt has invited billionaire Elon Musk to visit the country and see for himself that its famous pyramids were not built by aliens.

The SpaceX boss had tweeted what appeared to be support for conspiracy theorists who say aliens were involved in the colossal construction effort.

But Egypt's international co-operation minister does not want them taking any of the credit.

She says seeing the tombs of the pyramid builders would be the proof.

The tombs discovered in the 1990s are definitive evidence, experts say, that the magnificent structures were indeed built by ancient Egyptians.

On Friday, the tech tycoon tweeted: "Aliens built the pyramids obv", which was retweeted more than 84,000 times.

Egypt's Minister of International Co-operation Rania al-Mashat responded on Twitter, saying she followed and admired Mr Musk's work.

But she urged him to further explore evidence about the building of the structures built for pharaohs of Egypt.

Egyptian archaeologist Zahi Hawass also responded in a short video in Arabic, posted on social media, saying Mr Musk's argument was a "complete hallucination".

"I found the tombs of the pyramids builders that tell everyone that the builders of the pyramids are Egyptians and they were not slaves," EgyptToday quotes him as saying.

Mr Musk did later tweet a link to a BBC History site about the lives of the pyramid builders, saying: "This BBC article provides a sensible summary for how it was done."

There are more than 100 surviving pyramids but the most famous is the Great Pyramid of Giza in Egypt - standing at more than 450ft (137m).

Most of them were built as tombs - a final resting places for Egypt's royalty.

https://www.bbc.com/news/world-africa-53627888
 
Elon Musk: Cheaper Tesla ready 'in about three years'

Tesla founder Elon Musk has announced technology that he says will make Tesla batteries cheaper and more powerful.

At a live presentation that Mr Musk labelled 'Battery Day' he also teased the possibility of a $25,000 (£19,600), fully-autonomous Tesla "in about three years time".

"This has always been our dream to make an affordable electric car," he said.

But the news didn't excite investors and $50bn was wiped off its stock market value.

The main announcement was Tesla's new larger cylindrical cells. It was claimed the new batteries will provide five times more energy, six times more power and 16% greater driving range.

But the technology announced is likely to take years to implement.

Tesla's approach includes integrating the battery so that it forms part of the structure of the vehicle, thereby reducing the effective weight of the battery.

The speech took place in front of 240 shareholders - each sitting in a Tesla Model 3.

Central to cheaper Teslas are innovations in the way the company designs batteries - radically improving their efficiency.

Prof Stanley Whittingham - who was awarded the Nobel Prize in Chemistry last year for his work on lithium-ion batteries - told the BBC that "tackling all the opportunities is high risk, but high pay-off".

"Many of us have suggested the same steps are necessary, but Tesla has the investment and will to make it happen. Not sure anyone else is willing to do this," he said.

Mr Musk also announced that as well as purchasing batteries from Panasonic and LG Chem - Tesla itself would begin to make them.

In April last year, Musk himself revealed problems with sourcing Panasonic batteries used in its Model 3 Tesla.

One expert said scaling up would be "challenging".

"Even with really experienced car manufacturers, we tend to see a very high scrap rate of production in the first couple of years," said Casper Rawles, head of price assessments at Benchmark Mineral Intelligence.

Mr Rawles also warned that so much of the content of the battery is expensive metals - "You can only reduce the cost down to a point".

Four consecutive quarters of growth have helped Tesla's share price soar and it is now the most valuable car company in the world.

This is despite criticisms of Elon Musk that some of his technological advances have been exaggerated.

Earlier this month, customer group Consumer Reports released a damning report about Tesla's automated driving services. The research concluded that "for now, full self-driving capability… remains a misnomer".

And in July, Mr Musk said Tesla would be able to make its vehicles completely autonomous by the end of this year. The statement was met with scepticism by industry insiders.

Tesla's boss however announced that a "beta" version of the full Autopilot software would be available "in a month or so".

Musk is no stranger to glitzy and sometimes bizarre public demonstrations.

Earlier this month he unveiled a pig with a coin-sized computer chip in its brain to demonstrate his ambitious plans to create a working brain-to-machine interface.

https://www.bbc.com/news/technology-54244612
 
Tech entrepreneur Elon Musk says he "most likely" has a "moderate case" of Covid-19 but has been "getting wildly different results from different labs".

The boss of Tesla and SpaceX, who is 49, tweeted his symptoms were those of a "minor cold". On Friday he said he had been tested four times, with two positive and two negative results.

Mr Musk appeared to play down concerns about the pandemic when it first hit.
 
Something to take his mind off covid.


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Elon Musk's net worth jumped more than $15 billion after it was announced that Tesla would join the S&P 500, which would push him past Mark Zuckerberg to become the world’s third-richest person <a href="https://t.co/e6lI1dg0wF">https://t.co/e6lI1dg0wF</a></p>— Bloomberg (@business) <a href="https://twitter.com/business/status/1328493072553025537?ref_src=twsrc%5Etfw">November 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Elon Musk surpasses Bill Gates as the world's second-richest person as Tesla's market value nears $500 billion <a href="https://t.co/QRzAEgo338">https://t.co/QRzAEgo338</a></p>— Business Insider (@businessinsider) <a href="https://twitter.com/businessinsider/status/1331168733239373828?ref_src=twsrc%5Etfw">November 24, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Elon Musk moves Tesla to Texas in Silicon Valley snub

Elon Musk has announced he is leaving Silicon Valley for Texas, and predicts the tech hotspot could lose its influence.

The billionaire entrepreneur declared that California had "too much influence in the world" but that its power is waning.

Tesla, valued at $500bn (£372bn), has its headquarters in California, but will build a new factory in Austin.

Space X - Mr Musk's spaceflight company - already has facilities in Texas.

"The two biggest things that I got going on right now are the Starship development in South Texas ... and then the big new US factory for Tesla," Mr Musk told the Wall Street Journal.

Living in California "wasn't necessarily a great use of my time," he added.

In May, Mr Musk threatened to move Tesla to Texas, after local officials refused to let the car company reopen its factory during the coronavirus pandemic.

"Frankly, this is the final straw," he tweeted.

"Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependent on how Tesla is treated in the future."

https://www.bbc.com/news/technology-55246148
 
Elon Musk says Apple's boss snubbed takeover deal

Tesla founder Elon Musk says that Apple chief executive Tim Cook snubbed talks to buy the car company back in 2017.

Mr Musk tweeted on Tuesday that he reached out to the Apple boss during his company's "darkest days".

At the time Tesla was valued at $60bn (£45bn), but it has now grown to be worth 10 times that amount.

Mr Musk said he had planned to discuss a possible sale of Tesla to Apple as it was struggling financially while building its Model 3 electric car.

During that cash crisis, the billionaire entrepreneur told his employees that its factory faced a period of "production hell".

Weeks later he tweeted about sleeping on the roof of the factory as he tried to fix production bottlenecks.

However, Tesla overcame the problems and has since posted up a string of quarterly profits.

This week, the electric carmaker became one of the most valuable companies to join the S&P 500 index.

https://www.bbc.com/news/business-55420435
 
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Elon Musk is now officially the richest man on earth with a net worth of $188.5bn <a href="https://t.co/LqkWuQ8SP5">https://t.co/LqkWuQ8SP5</a></p>— Financial Times (@FinancialTimes) <a href="https://twitter.com/FinancialTimes/status/1347225420010295299?ref_src=twsrc%5Etfw">January 7, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 

A thank you from Sal Khan to Elon Musk for a major gift helping to ensure that humanity has access to a free, world-class education.
 

A thank you from Sal Khan to Elon Musk for a major gift helping to ensure that humanity has access to a free, world-class education.

Khan Academy is class, not sure what it is like now but many moons ago was a great help with some A level physics stuff
 
Something to take his mind off covid.


<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Elon Musk's net worth jumped more than $15 billion after it was announced that Tesla would join the S&P 500, which would push him past Mark Zuckerberg to become the world’s third-richest person <a href="https://t.co/e6lI1dg0wF">https://t.co/e6lI1dg0wF</a></p>— Bloomberg (@business) <a href="https://twitter.com/business/status/1328493072553025537?ref_src=twsrc%5Etfw">November 17, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

While there will be critics of their balance sheet and how overvalued their stock is, Tesla as a company is here to stay and will continue to grow
 
Khan Academy is class, not sure what it is like now but many moons ago was a great help with some A level physics stuff

It is.. and I hope people realize that a country with socialism cannot achieve this...
 
Musk's ideas have all been tried before, so he isn't the 'revolutionary' that some of his sycophants would have you believe. But that is not his biggest issue. I wish he would be more realistic with his ideas and focus more energy on getting them work than on pushing himself and his work on social media. He should let his work speak for itself.
His SpaceX was very nearly a disaster, saved only in time by the 4.5 billion USD NASA contract to supply the ISS. They ain't going to Mars anytime soon, let alone establish a colony there by 2025. They seem to be massively underestimating the technological challenges involved.
The Boring Company is possibly a non-starter and the Hyperloop already has competitors. Remains to be seen how Musk will handle these.
Which brings me to his potentially most successful project - Tesla. This of course, can be a wonderful idea and is most definitely realisable on a commercial scale. If Musk can popularize electric vehicles and put the old hags in the oil sector out of business, he will go down as one of the greatest men in the history of mankind. But there are too many rumours about bad management at Tesla and way too many questions about its financial situation. Of course, they can all be dismissed as bad rumours made by jealous folks but the fact remains that there is no smoke without a fire.
And then there is the car itself. I haven't driven it but by most accounts, it is a wonderful experience. But like all environmentally friendly things it is too expensively priced at USD 100,000 a pop (for the Model S). It is highly unlikely that most people, other than a few rich folks with either genuine or fashion-driven concern for the environment, will choose it over the Mercedes Benz C or E Class. And let’s not even get talking about the tens of millions of fossil fuel burners driving Ford Focuses, Fiat Puntos and other cheaper makes to whom, in my opinion, most environmentally friendly technologies must be designed for.
Elon is the kind of person who gets produced very rarely indeed, and people like him can genuinely make a difference to mankind. But he needs to keep his ego in check and stop biting back at his detractors every time something bad is said about him. Case in point, his attempts at saving the Thai football team from the cave and the bashing fest on social media that resulted.
Whatever you say about the man, it is beyond doubt that he has a dream and a vision for a better world. This is something that cannot be said about most of the people, particularly big businessmen. I hope realism prevails with men like Musk, and that the world is genuinely bettered by their vision.

Ii love Musk, I think he is a brilliant enterpanaur
But this was awesome!
Kinda like a father sitting down with his brilliant yet slightly ADHD kid who is always looking for a new toy to play with

And giving him the "talk" he desperately need
 

A thank you from Sal Khan to Elon Musk for a major gift helping to ensure that humanity has access to a free, world-class education.

The GOAT, one and only the megastar Salu Bhai!! :imad
He is the voice behind my SAT,regent, high school exam prep

:bow::bow::bow:
I have a man crush on this guy I am a Salu simp :bhajji
There I said it...
 
https://www.theguardian.com/technology/2021/feb/23/elon-musk-worlds-richest-person-tesla-shares-jeff-bezos-bitcoin-price

Elon Musk, the maverick boss of Tesla, is no longer the world’s richest person after shares in the electric car company dropped 8.6% on Monday, wiping $15.2bn (£10.8bn) off his fortune.

Musk, who last month leapfrogged Amazon founder Jeff Bezos to take the title of the world’s wealthiest person, dropped back into second place with a $183bn estimated fortune behind Bezos’ $186.3bn.

The 8.5% drop in Tesla’s share price on Monday – the sharpest one-day fall since September – was partly fuelled by Musk tweeting that the prices of bitcoin and other cryptocurrencies “do seem high”. Tesla’s shares were down a further 6% in pre-market trading on Tuesday.

His comments came just two weeks after Tesla bought $1.5bn of bitcoin, which sent the price of the cryptocurrency to fresh highs. Bitcoin, which reached a high of $58,000 on Sunday, has since fallen to $47,500 on Tuesday morning. The price is still up more than 500% over the past year.

Replying on Twitter to Peter Schiff, a stockbroker and gold investor, Musk said: “Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency and error. The system will evolve to that which minimises both. That said, bitcoin and ethereum [another cryptocurrency] do seem high.”

Scottish Mortgage Investment Trust, which is managed by Tesla shareholder Baillie Gifford, was the biggest faller on the FTSE 100 on Tuesday, down 11%. Baillie Gifford was the biggest faller on the FTSE 250, down 8%.

Musk had last week said Tesla’s decision to buy $1.5bn in bitcoin was a company decision not driven by him. “Tesla’s action is not directly reflective of my opinion,” Musk said, again on Twitter.

“Having some bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P 500 company ... When fiat [government-issued] currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as ** [********] as fiat money. The key word is ‘almost’.”

Tesla disclosed the bitcoin holding in a filing with the US Securities and Exchange Commission last month. The company said it had “updated our investment policy to provide us with more flexibility to further diversify and maximise returns” to allow it to invest cash reserve in “alternative reserve assets including digital assets”.

It said that since the decision was approved by its audit committee it had “invested an aggregate $1.5bn in bitcoin under this policy and may acquire and hold digital assets from time to time or long term”.

Musk has previously helped to drive the popularity of cryptocurrencies, including bitcoin and dogecoin, by regularly tweeting that he is a “supporter” of the cryptocurrencies. He has also joked that bitcoin is his “safeword”.

Last month, the price of bitcoin soared after Musk said he was a supporter of the cryptocurrency in an interview carried on Clubhouse, a new social media app designed for wealthy people. “I do think at this point bitcoin is a good thing,” he said. “And, so, I am a supporter of bitcoin. Like I said, I was late to the party, but I am a supporter of bitcoin. And I think, bitcoin is really on the verge of getting broad acceptance by conventional finance people.”

He has previously changed his Twitter biography to “#bitcoin”.

Musk also tweeted on Monday that Tesla’s Model Y Standard Range SUV would still be available “off the menu”, following reports from electric vehicle newsite Electrek that the model had been removed as an option online.
 
Tesla partners with nickel mine amid shortage fears

Tesla has decided to become a technical partner in a nickel mine - which is needed for lithium-ion batteries that power electric cars.

Elon Musk's car firm will also buy nickel from the Goro mine on the small Pacific island of New Caledonia to secure its long-term supply.

The move comes amid growing concerns about future supplies of nickel.

New Caledonia is the world's fourth largest nickel producer, which has seen a 26% rally in prices in the past year.

"Nickel is our biggest concern for scaling lithium-ion cell production," Musk said on Twitter last month.

New Caledonia is a French overseas territory although it has seen growing calls for its independence.

https://www.bbc.com/news/business-56288781
 
https://www.reuters.com/business/legal/how-murky-legal-rules-allow-teslas-musk-keep-moving-markets-2021-05-14/

With his cult following, Tesla boss Elon Musk has amassed considerable power to move markets with his musings, but murky rules make it difficult for regulators to rein him in.

The celebrity CEO, who boasts more than 54 million Twitter followers and has a devoted constituency on Reddit, has whipsawed the cryptocurrency market and sent some stocks soaring this year with a series of tweets and business announcements.

That power was in evidence this week. A Musk tweet on Wednesday that Tesla would no longer accept payments in bitcoin sent the cryptocurrency tumbling 17%, roiling bitcoin futures and dragging down the broader cryptocurrency market.

Dogecoin had an even wilder ride this week, first spiralling downward after Musk called it “a hustle” during the U.S. “Saturday Night Live” TV show. Hours later, it jumped when Musk announced his commercial rocket company SpaceX would accept it for payment. The upstart cryptocurrency received a further bump on Thursday when Musk said he was involved in work to improve its transaction efficiency.

While consumer advocates said Musk was hurting investors and making a mockery of the public markets, it was unclear that he was breaking any rules simply by wielding his influence.

"The problem here is that a loose cannon CEO continues to shoot his mouth off about any number of potential market moving events," said Dennis Kelleher, CEO of think tank Better Markets. "It's clearly grossly irresponsible but it may not be illegal."

A spokesman for Tesla did not respond to a request for comment.

Musk's tweets about dogecoin in recent months triggered a rally in the digital currency, which started as a social media parody. Near worthless in late 2020, dogecoin has surged to become the fourth-largest cryptocurrency by market cap, according to CoinMarketCap.com.

Other tweets this year about retailer GameStop and online marketplace Etsy also appeared to boost their shares, while investors mistakenly snapped up shares in device maker Signal Advance believing it was the trading ticker for chat app Signal, which Musk had endorsed.

However, lawyers said Musk would need to move an asset price with the aim of enriching himself or people close to him, or operate with inside information, to fall foul of the law. Reuters could not ascertain Musk's asset holdings.

For some, the multi-billionaire is no different from top investors like Warren Buffett or Ray Dalio, who were influencing markets long before Musk. And Musk's use of social media to reach people directly may have muddied the legal waters in his favor.

"In the past, access to these leaders were filtered through staff and press releases. Now, the general public must evaluate this information directly," said Timothy Shields, a partner at law firm Kelley Kronenberg who focuses on technology.

"Where Musk's speech reflects himself personally versus Tesla is very difficult for regulators to separate and therefore regulate."

The Commodity Futures Trading Commission, which regulates bitcoin derivatives, did not respond to requests for comment. A spokesperson for the Securities and Exchange Commission (SEC) said that as a matter of course, the SEC and U.S. exchanges "monitor for suspicious activities across regulated markets."

SEC SETTLEMENT

Musk has crossed the line before. In August 2018, he sent Tesla's shares soaring with a tweet that he had "funding secured" to take Tesla private, when he was not even close.

The SEC subsequently fined Musk $20 million for securities fraud and Tesla $20 million for inadequate disclosures and controls over Musk's Twitter account. The SEC also ordered Tesla to vet any material public communications Musk made regarding Tesla.

But just months later, the SEC said that Musk violated that settlement with a tweet about Tesla's production outlook that had not been vetted. Musk's attorneys contested the allegation, saying the Tweet was old news and not material.

The SEC subsequently tightened Tesla's settlement by detailing a raft of issues Musk was barred from riffing about without approval.

Lawyers said Musk's Wednesday tweet on Tesla's bitcoin about-face was carefully crafted and, as such, did not appear to breach that settlement.

Philip Moustakis of law firm Seward & Kissel said Musk and Tesla could in theory get into hot water if the statement was false or misleading, for example, if Tesla had sold bitcoin before the announcement. But, he added, “I would be surprised.”
 
Elon Musk Targeted By Anonymous Hacker Group: Report

The hackers have targeted Elon Musk, claiming the power he uses over cryptocurrency markets and the arrogant way he uses it has gone far enough especially as it pertains to Bitcoin, which has reacted uncontrollably to Elon's words of late.


Washington: Elon Musk, the CEO of technological giant Tesla was targeted by a notorious group of hackers who are liable for committing some of the biggest digital scams in the recent past.
TMZ reported that the anonymous account has caused a lot of grief for different organizations including PayPal, Scientology is now targeting the Tesla CEO.

In their latest video, they have targeted Elon, claiming the power he uses over cryptocurrency markets and the arrogant way he uses it has gone far enough especially as it pertains to Bitcoin, which has reacted uncontrollably to Elon's words of late.

Anonymous affirms that even though Elon has "positioned himself as concerned about the environment with Tesla''s pivot away from Bitcoin, he doesn't practice what he preaches within the company itself- hurling many allegations against him and Tesla's practices at large," TMZ reported.

The anonymous further slammed Elon on a personal note, saying he suffers from a "superiority complex"- noting he once dubbed himself the "Emperor of Mars" - and that he is hurting working-class people and their prospects by his constant crypto trolling.

Concluding his grievance note, the anonymous added that he thinks "Elon is not a friend to the common man", something they considered themselves to be.

Elon, recently announced that the company has stopped accepting bitcoin as payment for its cars out of concern- that it will contribute to greater consumption of fossil fuels.

The business magnate and SpaceX founder shared a statement on Twitter on Wednesday about the same. Tesla had only just started accepting bitcoin in late March.

The 49-year-old industrial designer also said that Tesla will no longer sell any more of the USD 1.5 billion stashes of bitcoin it purchased earlier this year. Tesla sold some of that bitcoin in the first quarter of 2021, which wound up helping pad the company's quarterly profit figures.

Elon has also hyped another cryptocurrency, Dogecoin, which Tesla has not invested in. He has called Dogecoin, which was invented as a joke to satirize bitcoin, his favourite cryptocurrency and "the people's crypto."

https://www.ndtv.com/world-news/elon-musk-targeted-by-anonymous-hacker-group-report-2457430#News_Trending
 
https://www.reuters.com/business/autos-transportation/musk-trial-asks-2-bln-question-who-controls-tesla-2021-07-09/

Does Elon Musk control Tesla Inc or does Tesla control Elon Musk?

More than $2 billion hinges on that question as a trial kicks off on Monday. Shareholders allege that Musk used his control of Tesla to force the company in 2016 to rescue SolarCity, saving the solar panel maker - and Musk's investment in the company - from bankruptcy.

The union pension funds and asset managers leading the case want Musk to repay to Tesla the cost of the $2.6 billion deal and to disgorge the profits on his SolarCity stock. If they win, it would be one of the largest judgments against an individual.

The two-week trial in the Court of Chancery in Wilmington, Delaware, will boil down to whether Musk, who owned about 22% of Tesla at the time of the deal, is that rare controlling stockholder who does not hold a majority stake.

"I think it's going to be very hard for the court to ignore the reality that Elon Musk is Elon Musk and his relationship with Tesla," said Ann Lipton, a professor at Tulane University Law School.

She said the case might present an unusual situation given Musk's celebrity status, his personal ties to Tesla board members and those board members' financial ties to SolarCity.

"Put it all together, and it might be enough to count as a controlling shareholder," she said.

Few executives dominate their company's image as much Musk, known for taunting regulators, battling naysayers and personally engaging with his 57 million Twitter followers.

"We are highly dependent on the services of Elon Musk, Technoking of Tesla and our Chief Executive Officer," said Tesla's 2020 annual report.

Plaintiffs allege that Musk drove the negotiations and even pushed Tesla's board to raise, not lower, the price for SolarCity.

A higher price benefited Musk, who was the largest shareholder of SolarCity, with a stake of about 22%, as well as four members of Tesla's board, who directly or indirectly owned SolarCity stock, according to court records.

Board members settled allegations against them last year for $60 million and did not admit to any fault.

Plaintiffs also allege the deal benefited two of Musk's cousins who founded SolarCity, saving a company that was rapidly running low on cash.

Musk has said he was "fully recused" from board negotiations and that shareholders voted to approve the deal because it was central to his "Master Plan, Part Deux" that aims to integrate sustainable solar energy with electric self-driving cars.

He has said that what plaintiffs see as evidence of control is little more than strong management.

"Taken to its natural conclusion, virtually all 'hands-on' and 'inspirational' CEOs with minority stock ownership would be deemed controllers," Musk's lawyers wrote in a court filing.

If Vice Chancellor Joseph Slights determines Musk was a controlling shareholder, it will fall to Musk to prove the SolarCity deal met the high bar of the "entire fairness" standard, which examines process and price, said legal experts.

Musk has noted in court papers that the SolarCity deal has been a huge success for Tesla shareholders, demonstrating the deal was not only fair, but a boon. After Tesla split its stock 5-1 in 2020, it has risen to $652 on Thursday from near $37 a share when the deal closed in November 2016.

"If the vice chancellor thinks this deal was awful and was not effectively negotiated on behalf of the company, he’ll strike it down," said Larry Hamermesh, a professor at Delaware Law School.
 
https://www.theguardian.com/technology/2021/jul/12/elon-musk-tesla-solarcity-deal-shareholder-lawsuit

Elon Musk took the stand on Monday to defend Tesla’s 2016 acquisition of SolarCity against a lawsuit by shareholders seeking to recoup the $2.6bn the company paid for the ailing solar panel maker.

Musk denied the deal was a bailout, as Tesla shareholders have alleged.

“Since it was a stock-for-stock transaction and I owned almost exactly the same percentage of both [companies] there was no financial gain,” he said, responding to his attorney.

Musk’s testimony kicked off a two-week trial in Wilmington, Delaware, before Vice-Chancellor Joseph Slights, who will decide whether the deal was fair to Tesla stockholders.

The lawsuit by union pension funds and asset managers alleges the celebrity chief executive strong-armed Tesla’s board to buy SolarCity, just as it was about to run out of cash. Musk owned a 22% stake in the company, which was founded by his cousins. At the time of the purchase, he also owned about a 22% stake in Tesla.

Shareholders asked the court to order one of world’s richest people to repay to Tesla what it spent on the deal, which would be one of the largest judgments ever against an individual. The judge could award a much lower amount of damages.

Wearing a dark suit, white shirt and dark tie, Musk testified that for years before the SolarCity deal he saw the company as a natural part of the transition to sustainable energy.

He touted the deal at the time as central to his “Master Plan, Part Deux”, which aims to reshape transportation by using sustainable energy to power self-driving electric vehicles.

Musk said he did not control the appointment of board members or compensation and that they negotiated the SolarCity deal and its terms without his influence.

Asked by his attorney, Evan Chesler, to describe his relationship with the board, Musk said: “I’d say good. They work hard and are competent. They provide good advice and are rigorous in acting on behalf of shareholders.”

On cross-examination, shareholder attorney Randall Baron warned Musk that “we plan to spend a lot of time with you. It’s going to be a grind”.

Musk grimaced, poked at a 6in-thick file exhibit and replied: “I can tell by the binder.”

Legal experts said the judge will be looking for evidence Musk threatened board members or that directors felt they could not stand up to him. The lawsuit accuses Musk of dominating deal discussions, pushing Tesla to pay more for SolarCity and misleading shareholders about its financial health.

Central to the case will be allegations that Musk, with his 22% stake in Tesla at the time, was nonetheless a controlling shareholder. If he was, it would impose a tougher legal standard and increase the likelihood the deal was unfair to shareholders.

“It would be a surprise to most people if the court were to come out and say that he doesn’t control here,” said Brian Quinn, a professor at Boston College Law School. “Because he certainly acts like he does.”

Tesla’s directors settled allegations from the same lawsuit last year for $60m, without admitting fault. Slights will likely take months before he issues a ruling.
 
NEW YORK: Tesla CEO Elon Musk sold approximately $1.1 billion in shares of his electric car company, after indicating over the weekend he would sell 10 percent of his stock based on the results of a Twitter poll.

However, the sell was put in motion on September 14, according to documents filed Wednesday, meaning it was not spurred by the survey's outcome.

Musk, the world's richest man, sold about 930,000 shares on Monday, a filing with the US Securities and Exchange Commission financial regulator showed.

On Saturday, Musk polled his more than 62 million Twitter followers about whether he should sell 10 percent of his Tesla shares, insisting he would do as voters say. The people voted "yes."

Elon Musk asks Twitter if he should sell 10 percent of his Tesla stock

The electric car maker's query followed a proposal by US Congressional Democrats to tax the super wealthy more heavily by targeting stocks, which are usually only taxed when sold.

Following the poll, Tesla's share price plunged Monday, meaning the 50-year-old entrepreneur sold his stock at a significantly lower price than if he had sold it before his tweet, losing tens of millions of dollars in unrealized profit.

Musk still holds more than 170 million Tesla shares, according to the SEC documents, worth a total of $183 billion at Wednesday's closing price.

On Monday, the Tesla founder excercised 2.15 million stock options, buying the securities at $6.24 each -- less than one percent of their current value.

https://www.brecorder.com/news/40132730/elon-musk-sells-11-billion-in-tesla-shares
 
https://www.reuters.com/technology/india-tells-public-shun-musk-backed-starlink-until-it-gets-licence-2021-11-27/

The Indian government advised people against subscribing to Starlink Internet Services, a division of billionaire Elon Musk's SpaceX aerospace company, as it does not have a licence to operate in the country.

A government statement issued late on Friday said Starlink had been told to comply with regulations and refrain from "booking/rendering the satellite internet services in India with immediate effect".

Starlink registered its business in India on Nov.1. It has begun advertising, and according to the government, it has started pre-selling its service.

Responding to a Reuters email, Starlink said: "No comment for now".

A growing number of companies are launching small satellites as part of a low-Earth orbiting network to provide low-latency broadband internet services around the world, with a particular focus on remote areas that terrestrial internet infrastructure struggles to reach.
 
Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing.

The news sent Twitter shares soaring about 25% in pre-market trading.

The Tesla founder bought 73,486,938 Twitter shares on 14 March, according to the Securities and Exchange Commission.

The stake is worth $2.89bn (£2.20bn), based on Twitter's closing price on Friday.

The stake makes him one of the largest shareholders in the company and is more than four times the 2.25% holding of Twitter founder Jack Dorsey.

Musk is a regular Twitter user with more than 80 million followers, although recently he said he is giving "serious thought" to building a new social media platform.

Late last month Musk asked his followers whether they thought the social media platform encouraged free speech.

"Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"

He then asked: "Is a new platform needed?"

Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.

He regularly uses Twitter to share updates from the companies he owns - including SpaceX and Neuralink. He is also known for sharing memes, adding to his popularity among fans.

But some posts have drawn controversy.

Last year he tweeted in response to a claim, made by the head of the UN World Food Programme (WFP), that just 2% of Mr Musk's wealth could help to solve world hunger.

In October, Mr Musk said he would sell $6bn in Tesla stock and donate it to the WFP, provided it could describe "exactly how $6bn will solve world hunger".

Mr Musk saw the valuation of his Tesla car company surpass a market value of $1 trillion last autumn, making it the fifth such firm to reach the milestone, after Apple, Microsoft, Amazon and Google-owner Alphabet.

Soon after he took to Twitter to ask users if he should sell a 10% stake in the electric carmaker.

More than 3.5 million Twitter users voted, with nearly 58% voting in favour of the share sale leading to Musk selling around $5bn (£3.7bn) of shares in the firm in November.

BBC
 
Elon Musk is now the world's richest man, according to Forbes, relegating Amazon founder Jeff Bezos to second place for the first time in four years.

Musk was worth an estimated $219bn (£166bn) on 11 March - when the Forbes' list of world billionaires locked in net worths - after adding $68bn to his fortune over the past year.
 
Billionaire Elon Musk has offered to buy Twitter for $41.39bn, saying his proposed takeover is needed to uphold free speech.

The Tesla chief executive offered to pay $54.20 a share a little more than a week after his 9.2% stake in the company was publicly announced.

"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," he said in a letter to Twitter chairman Bret Taylor.
 
Bezos invested in legacy media for his image management - Washington Post.

Maybe Musk is betting on social media to do the same for him?
 
<b>Twitter shares rise as reports say Elon Musk deal close</b>

Twitter's shares rose by about 4% in opening trade in New York on speculation the firm could agree a takeover deal with Elon Musk as early as Monday.

The board of the social media giant is reported to have met with Mr Musk over the weekend to discuss his $43bn offer.

Twitter had initially rebuffed the billionaire's approach.

But according to reports, Twitter is now in the final stages of negotiations with Mr Musk to buy the business.

Reuters, the news agency, reported that an announcement may come later on Monday after Twitter's board met and recommended a deal to its shareholders.

Shares rose almost 4% to $50.62 on the reports, but remained below Mr Musk's offer price of $54.20 a share.

Mr Musk's targeting of Twitter has moved at remarkable speed.

It emerged at the beginning of April that Mr Musk, who is the boss of electric carmaker Tesla, had become the largest shareholder in Twitter with a 9.2% stake.

He was then invited to join Twitter's board but turned down the offer before launching a surprise bid for the company on 14 April, saying he wanted to "unlock" the social media platform's "extraordinary potential".

Twitter responded by putting in place a so-called "poison pill" defence to fend off Mr Musk.

The mechanism would have created difficulties for Mr Musk if he attempted to increase his stake in the company.

The board now appears to have U-turned after Mr Musk revealed he had lined up a $46.5bn financing package for his offer - with funding from a mixture of his own assets and the backing of Wall Street banking giant Morgan Stanley and other firms.

Mr Musk recently said that he believes that Twitter should be more open and transparent.

"I think it's very important for there to be an inclusive arena for free speech," he told the TED2022 conference in Vancouver.

The billionaire, who is the world's richest man according to Forbes magazine, has also hinted at his plans for Twitter.

He asked his 83.3 million followers on Twitter if the social media platform should allow people to edit their posts - 74% of those who responded wanted an edit button.

Mr Musk's has also criticised Twitter's process of verifying a Twitter account which he said was like "if Kafka had a Magic 8-Ball!".

He also recently tweeted: "If our Twitter bid succeeds, we will defeat the spam bots or die trying"…..And authenticate all real humans."

It is not clear who would run Twitter if Mr Musk's bid succeeds.

He is the chief executive as well as the "Technoking" of Tesla according to the company's website.

He is also chief executive, chief technology officer and chairman of rocket and spacecraft firm SpaceX.

Mr Musk is also involved in a number of other businesses and start-ups.

Twitter is led by chief executive Parag Agrawal, who took on the role last November with the backing of co-founder and former boss Jack Dorsey.

At the time, Mr Dorsey said: "My trust in Parag as Twitter's chief executive is deep. I'm deeply grateful for his skill, heart, and soul. It's his time to lead."

Mr Musk has been critical of Twitter's management.

In his offer document, he told Twitter's chairman Bret Taylor: "I don't have confidence in management."

Mr Agrawal has not discussed the takeover on the platform since earlier this month, when he announced that Mr Musk had turned down an offer to sit on the company's board, a decision he said would be "for the best".

https://www.bbc.co.uk/news/business-61215197
 
<b>BREAKING</b>

Twitter board agrees to $44bn takeover by Elon Musk.
 
Twitter has reached an agreement for billionaire Elon Musk to buy the social media platform in a $44bn (£34.6bn) deal.

The announcement followed, what were reported to be, extensive discussions between Mr Musk and Twitter's board starting on Sunday that stretched into Monday.
 
I understand the takeover but taking it private is going to take a lot of funds. Twitter is not yet profitable so anyone who takes it private will also have to provide funds for day to day operating expenses of the company.

But perhaps Musk has very good ideas about making it profitable in which case a private company makes the most sense. And he is the richest man in the world so its not like he has lack of funds, even though he might have to borrow against his Tesla shares
 
Twitter CEO Parag Agrawal Faces Employee Anger Over Elon Musk's Criticism

Twitter Inc executives said at a companywide meeting on Friday that the company would monitor staff attrition, but it was too soon to tell how the buyout deal with Elon Musk would affect

Twitter Chief Executive Parag Agrawal sought to quell employee anger on Friday during a company-wide meeting where employees demanded answers to how managers planned to handle an anticipated mass exodus prompted by Elon Musk.
The meeting comes after Musk, the Tesla chief executive who sealed a $44 billion deal to buy the social media company, repeatedly criticized Twitter's content moderation practices and a top executive responsible for setting speech and safety policies.

At the internal town hall meeting, which was heard by Reuters, executives said the company would monitor staff attrition daily, but it was too soon to tell how the buyout deal with Musk would affect staff retention.

Musk has pitched lenders on slashing board and executive salaries but exact cost cuts remain unclear, according to sources familiar with the matter. One source said Musk would not make decisions on job cuts until he assumes ownership of Twitter.

"I'm tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?" one Twitter employee asked Agrawal, in a question read aloud during the meeting.

Agrawal answered that Twitter has always cared about its employees and would continue to do so.

"I believe the future Twitter organization will continue to care about its impact on the world and its customers," he said.

Executives said during the meeting that the employee attrition rate has not changed compared to the levels before the news of Musk's interest in buying the company.

In recent days, Musk has tweeted criticism of Twitter's top lawyer, Vijaya Gadde, who is a Twitter veteran and widely-respected across Silicon Valley. Musk's attack triggered a barrage of online harassment targeting her.

Employees also told executives they feared Musk's erratic behavior could destabilize Twitter's business, and hurt it financially as the company prepares to address the advertising world in a presentation next week in New York City.

"Do we have a strategy in the near-term on how to handle advertisers pulling investment," one employee asked.

Sarah Personette, Twitter's chief customer officer, said the company was working to communicate frequently with advertisers and reassure them "the way that we service our customers is not changing."

After the meeting, a Twitter employee told Reuters there was little trust in what executives had to say.

"The PR speak is not landing. They told us don't leak and do a job you are proud of, but there is no clear incentive for employees to do this," the employee told Reuters, noting that compensation for non-executive staffers is now capped because of the deal.

Agrawal is estimated to receive $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.

During the meeting, Agrawal urged staff to expect change in the future under new leadership, and acknowledged that the company could have performed better over the years.

"Yes, we could have done things differently and better. I could have done things differently. I think about that a lot," he said.

Twitter declined further comment.

https://www.ndtv.com/world-news/twi...s-takeover-2933482#pfrom=home-ndtv_topstories
 
Musk has been trolling people all over Twitter since the takeover news was confirmed. All sorts of verified “blue tick” liberal types are having a public meltdown over his presence. He knows what he is doing and how to maximise his own brand.
 
Elon Musk has outlined plans to charge some Twitter users as part of his plan to grow revenue once his $44bn takeover of the social media firm has completed.

The world's richest man used his Twitter account to reveal that the era of free tweets was coming to an end when he said: "Twitter will always be free for casual users, but maybe a slight cost for commercial/government users.

https://news.sky.com/story/twitter-...some-users-after-44bn-deal-completes-12605082
 
Elon Musk has outlined plans to charge some Twitter users as part of his plan to grow revenue once his $44bn takeover of the social media firm has completed.

The world's richest man used his Twitter account to reveal that the era of free tweets was coming to an end when he said: "Twitter will always be free for casual users, but maybe a slight cost for commercial/government users.

https://news.sky.com/story/twitter-...some-users-after-44bn-deal-completes-12605082

Fair enough.

Commercial businesses in particular gain a huge amount from being on Twitter, it’s not unreasonable that they should pay a premium for the privilege.

Less keen on charging governments because that is public money / tax.
 
Last edited:
Will Elon Musk’s Twitter 2.0 unmask anonymous Arab dissidents?
The billionaire pledged changes that could mean the ‘end of online anonymous activism’ for thousands in the Middle East, activists and experts say.

Twitter appears to be going private, leaving dissidents in the Middle East and North Africa concerned that a safe space to speak freely, amid various forms of state censorship, is about to disappear.

Under the prospective ownership of Tesla CEO Elon Musk, the popular social media app is expected to undergo changes.

But turning Twitter into a private venture with no oversight means some of these changes are bound to restrict the safety and privacy of users, effectively silencing them, activists and experts say.

Along with making algorithms open-source and defeating the controversial issue of bots, the billionaire entrepreneur, who reached a buyout deal with Twitter Inc. last week, has also pledged to “authenticate all humans”.

“No matter how you spin it, this will exclude certain users of the platform,” Jillian York, director for international freedom of expression at the Electronic Frontier Foundation (EFF), told Al Jazeera.

Many have questioned how the self-proclaimed “free-speech absolutist” plans to go about verifying the identity of human users and whether it would force anonymous users to reveal their real identities.

If “authenticating all humans” includes de-anonymisation, it is “sure to have a profoundly negative impact on pro-democracy movements across the globe”, Kareem Rifai, a Syrian-American pro-democracy activist, told Al Jazeera.

“De-anonymisation makes it dangerous or impossible for opposition activists living under dictatorial regimes to safely criticise their oppressors,” Rifai said.

What does ‘authenticating all humans’ mean?
Authenticating human users is a process that can be done in various ways.

Wael Alalwani, a digital rights advocate and data scientist, explained it could range from “ticking a CAPTCHA box … all the way to uploading official documents and personal photos”.

Regardless of how it’s done, both York and Alalwani agree there is “absolutely” cause for concern.

While authentication was mentioned as a “solution” to the flourishing bots and spam presence on Twitter, Alalwani believes these “can’t be solved by authentication per se”.

Combatting bots in a linear manner may lead to unintended consequences, that do not serve the long-term objective, he said, adding that Twitter users who tweet anonymously against repressive governments will be the first segment affected if they end up revealing their identity.

York agrees. “A user who tweets anonymously against a repressive regime … would have to weigh their physical safety against the importance of their work – a choice they shouldn’t have to make,” she said.

“I would like to see bots gone, as Musk said, but I’ll still not be happy if anonymous accounts were not allowed any more”, a Cairo-based Twitter user whose pseudonym is The Big Pharaoh, told Al Jazeera.

The Big Pharaoh, who has been blogging anonymously since 2004, is known for their strong stance against the Egyptian government. They have nearly 75,000 Twitter followers.

They say their anonymity stems from “security concerns”, but also because their blog – also The Big Pharaoh – has become synonymous with their pseudonym.

Clamping down on dissent
In their earlier days, platforms like Twitter and Facebook provided activists with the means to organise and amplify their demands, essentially becoming key tools that played a role in kickstarting some of the Arab Spring uprisings of 2011.

In the few years leading up to the revolutions, dissenting voices who had been blogging anonymously since the early 2000s found a wider audience on Twitter as the platform’s popularity skyrocketed after 2008.

In a political climate that did not allow independent media to thrive, local activists like The Big Pharaoh were finally able to offer an alternative view that resonated with millions of people.

This was also the case for Mahmoud Salem, an Egyptian cybersecurity analyst who authored the blog Rantings of a Sandmonkey. In 2005, Salem started blogging anonymously in a bid to fuel debate on social and political issues at home and in the region.

He later turned to Twitter and now shares his thoughts with more than 176,000 followers.

Salem says it was “super important” to be able to tweet anonymously in the lead up to the Egyptian uprising, especially in terms of “not confusing the message with the messenger”.

Tweeting anonymously, he explained, meant that you were stripped of any labels or affiliations.

Salem, eventually revealed his identity in February 2011, after he said he was almost killed by the police, who briefly detained him for participating in a protest in downtown Cairo.

According to Salem, if Twitter decides to force users to relinquish personal information under Musk, it will be the “end of online anonymous activism”, suggesting that users may start to move elsewhere, with the encrypted messaging app Telegram being “the most obvious option”.

Salem believes it may also be the end of “fake accounts, and by extension Twitter users’ growth”, casting doubt on whether the new feature will be implemented at all.

The formerly anonymous activist now “sporadically” blogs using his real name, but no longer lives in Egypt. “It made sense to leave”, he said, after his friends and business partners all “ended up arrested or exiled”.

In recent years, Egypt has launched an unprecedented crackdown on the media, imprisoning dozens and occasionally expelling foreign journalists.

In 2019, it introduced tighter restrictions that allow the state to block websites and social media accounts for “fake news” or incitement.

And just last week, in Syria, where President Bashar al-Assad’s government violently repressed what began as a peaceful uprising in 2011, amendments were made to existing cybercrime laws that would imprison Syrians for up to 15 years for criticising the regime.

‘Protect the privacy of users’

Despite Twitter becoming a haven for hate speech and disinformation over the years, anonymous users have still been able to speak freely without fearing immediate reprisals.

To better shield and support anonymous users, The Big Pharaoh said Twitter should continue to “protect the privacy of users”.

Salem agreed. “If such a process exists, then there needs to be a mechanism that prevents Twitter from sharing said information,” he said.

Otherwise, Twitter may be aiding regimes in extending their repressive practices to digital spaces, too.

Alalwani warns that knowing the real identities of activists could “augment the mass-surveillance activities applied by governments with the support of the new Twitter”.

While Twitter has historically handed user data to foreign governments in response to legal requests, it has done so carefully and, at times, “fought back when they deem such requests to be unjust”, York said.

However, Musk has so far given no indication that he has a sense of the issue.

In a tweet published on Tuesday, Musk says: “By ‘free speech’, I simply mean that which matches the law.”

He continues: “I am against censorship that goes far beyond the law. If people want less free speech, they will ask government to pass laws to that effect.”

The statement alarmed activists, who cross the free speech boundary set by their respective governments and guarded by Musk, and indicates “their data could be easily shared with the government to enforce the law”, Alalwani said.

Instead of the app being in the hands of a sole private owner with huge infamous influence, ways of “collective governance, co-ownership, and data ownership should be discussed”, he suggested.
https://www.aljazeera.com/news/2022/5/3/will-elon-musks-twitter-2-0-unmask-anonymous-dissidents
 
"Not How I Imagined...": Twitter CEO Sacks 2 Ahead Of Elon Musk Takeover
Kayvon Beykpour, a general manager who leads research, design and engineering at Twitter, is leaving along with head of products Bruce Falck, a Twitter spokesperson told AFP.

'Not How I Imagined...': Twitter CEO Sacks 2 Ahead Of Elon Musk Takeover
Twitter also confirmed that it is pausing all hiring except for business-critical roles.


San Francisco: Twitter confirmed Thursday that two senior executives are heading for the exit and it has paused most hiring, as Elon Musk stands poised to become the global messaging platform's new owner.
Kayvon Beykpour, a general manager who leads research, design and engineering at Twitter, is leaving along with head of products Bruce Falck, a Twitter spokesperson told AFP.

Beykpour however said he was ousted from the San Francisco-based tech company.

"The truth is that this isn't how and when I imagined leaving Twitter, and this wasn't my decision," Beykpour, who is on paternity leave, said in a tweet.

Twitter chief Parag Agrawal "asked me to leave after letting me know that he wants to take the team in a different direction," he added.

Twitter also confirmed that, effective this week, it is pausing all hiring except for business-critical roles.

Musk's $44-billion deal to buy Twitter was announced last month but still needs the backing of shareholders and regulators.

The takeover is expected to close later in 2022, with Musk -- who runs space exploration endeavor SpaceX and electric automaker Tesla -- stepping in as its boss at least for a little while.

Musk is on record saying he would lift the ban Twitter slapped on Donald Trump, contending that kicking the former US president off the platform "alienated a large part of the country."

Musk's endorsement of a Trump return triggered fears among activists that Musk would "open the floodgates of hate."

Trump has stated publicly he would not come back to Twitter if permitted, sticking instead with his own social network, Truth Social, which has failed to gain traction.

Trump was booted from Twitter and other online platforms after supporters, fired up by his tweets and speech alleging election fraud, attacked the US Capitol on January 6, 2021 in a deadly bid to stop Joe Biden from being certified as winner of the presidential election two months earlier.

Musk reasoned that permanent bans at Twitter should be rare, and reserved for accounts that are spam, scams or run by software "bots."

Activist groups have called on Twitter advertisers to boycott the service if it opens the gates to abusive and misinformative posts with Musk as its owner.

The fate of Twitter's top attorney, deemed a moral champion of the platform, has been in doubt since Musk tweeted displeasure with content moderation she had carried out.

The lawyer, Vijaya Gadde, has led efforts to battle bullying and posts that could lead to real-world harm such as the US Capitol riot.

She was involved in the decision to ban Trump, and others including removing political advertising from the app.
https://www.ndtv.com/world-news/twi...usk-takeover-2971395#pfrom=home-ndtv_bigstory
 
Billionaire Elon Musk has said his Twitter deal is "temporarily on hold" over the company's spam and fake user accounts.

Mr Musk, who last week secured $7bn from new investors for his $44bn takeover, tweeted: "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users."

Shares of the social media company fell 20% in premarket trading.

The world's richest man and the chief executive of Tesla Inc had said that if his acquisition went through one of his priorities would be to remove "spam bots" from the platform.

The company had earlier this month estimated that false or spam accounts represented fewer than 5% of its monetisable daily active users during the first quarter.

It also said it faced several risks until the deal with the SpaceX founder is closed, including whether advertisers would continue to spend on Twitter.

Twitter recently adopted a "poison pill" strategy in an attempt to resist a hostile takeover, but some investors wanted the tech giant to seriously consider Mr Musk's offer.

Mr Musk has repeatedly stated how he also wants Twitter to become a platform for free speech and to reduce its reliance on advertising.

The tech tycoon also said he would reverse the platform's "foolish" ban on former US president Donald Trump.

And he's pondered adding new features including an edit button and allowing longer tweets to be posted.

https://news.sky.com/story/elon-musk-says-twitter-takeover-deal-temporarily-on-hold-12611951
 
SpaceX founder Elon Musk said in a tweet late Thursday that “wild accusations” against him are not true.

He did not explain what those accusations were. But his response came after a Business Insider report on Thursday said the aerospace company had paid $250,000 in severance to a flight attendant who accused the billionaire of sexual misconduct.

The report, which cited interviews and documents obtained by Insider, said the woman claimed that during a massage she was giving Musk he exposed his erect penis, touched her thigh without her consent and offered to buy her a horse if she performed sex acts.

Musk, without referring directly to the report, tweeted that “for the record, those wild accusations are utterly untrue.”

“The attacks against me should be viewed through a political lens – this is their standard (despicable) playbook,” he tweeted.

Insider reported that the alleged incident occurred in Musk’s room aboard a SpaceX jet on a flight to London in late 2016, after the world’s richest person asked her to give him a “full body massage.”

Musk told Insider there was “a lot more to this story” as he asked the publication for more time to respond to the article’s claims, according to the outlet.

“If I were inclined to engage in sexual harassment, this is unlikely to be the first time in my entire 30-year career that it comes to light,” Musk reportedly wrote Insider. He also said its article was a “politically motivated hit piece, the outlet reported.

Insider reported that it moved the publication deadline after Musk requested more time to respond, but that he never made further comment on the allegations.

SpaceX legal affairs vice president Christopher Cardaci was quoted by Insider as saying, “I’m not going to comment on any settlement agreements.”

CNBC has reached out to SpaceX for comment.

The Insider report comes as the Tesla chief Musk is engaged in an effort to purchase social media giant Twitter.

The allegations reported Thursday are detailed in a declaration signed by a friend of the flight attendant.

That declaration was made to support a complaint that the woman’s lawyer had made to SpaceX’s human resources department in 2018 after she felt that her work opportunities at the company dwindled after she declined to engage in sexual contact with Musk, according to Insider.

Neither the friend, who spoke with Insider, nor the woman, who declined to be interviewed by the publication, was identified by name in the article. The flight attendant signed a non-disclosure agreement as part of her settlement with SpaceX, according to the report.

Insider reported that the friend said the flight attendant told her the story about Musk shortly after it happened.

And the outlet reported that the friend said she decided to reveal the woman’s allegation without first asking the flight attendant because she felt obliged as a survivor of sexual assault to disclose the claim against Musk.

Insider reported that the flight attendant’s complaint to SpaceX’s HR department was “resolved quickly after a session with a mediator that Musk personally attended.”

The news outlet said Musk, SpaceX and the flight attendant in November 2018 entered into an agreement to have the woman paid $250,000 in severance in exchange for promising not to file a lawsuit connected to her claims.

https://www.cnbc.com/2022/05/20/mus...-apparent-reference-to-harassment-report.html
 
Elon Musk is threatening to pull out of his deal to acquire Twitter alleging that the company has failed to disclosure the number of "spam and fake accounts" on the platform.

The billionaire, who claims to be spending less than 5% of his time on the $44bn takeover, has made a number of comments in recent weeks criticising Twitter and its management team.
 
Elon Musk is being sued for $258bn (£209bn) over accusations he ran a pyramid scheme to promote a cryptocurrency called Dogecoin.

The digital asset was launched as a joke in 2013 and was designed to mock Bitcoin.

But the cryptocurrency - also known as DOGE - hit the headlines after surging dramatically last year.

In a little over four months, Dogecoin rallied from $0.004 to $0.73 - a gain of more than 18,000%.

Musk regularly tweeted about DOGE during this period, and on the day the coin began to fall, he described it as a "hustle" on the US comedy show Saturday Night Live.

Dogecoin has fallen dramatically over the past year - and at the time of writing, it has fallen 92% from the record high seen last May.

The world's richest man - alongside Tesla and SpaceX, the companies he is CEO of - are accused of "promoting Dogecoin to profit from its trading".

A complaint filed in a New York court adds: "Musk used his pedestal as the world's richest man to operate and manipulate the Dogecoin pyramid scheme for profit, exposure and amusement."

Musk is being sued by an American man called Keith Johnson, who alleges he was "defrauded out of money" as a result of the entrepreneur's endorsements.

Mr Johnson's lawyers assert that the cryptocurrency "has no value at all" - and court filings feature quotes from billionaires Bill Gates and Warren Buffett, who have both questioned the value of such digital assets.

The plaintiff wants to represent those who have lost money through Dogecoin since 2019.

Beyond his demands for $258bn in damages, he also wants Musk, Tesla and SpaceX to be banned from promoting DOGE.

Earlier this year, Tesla began accepting Dogecoin as a payment method for merchandise - but not its electric cars.

SKY
 
Elon Musk: Daughter applies to legally change name, as she wants nothing more to do with father
There has been no explanation of the rift between Musk's daughter and her father.

Elon Musk's transgender daughter has applied to legally change her name because she no longer wants to "live with or wish to be related to my biological father in any way, shape or form".

The petition for both a name change and a new birth certificate reflecting her new gender identity was filed with
the Los Angeles County Superior Court in Santa Monica.

The former Xavier Alexander Musk, who recently turned 18, the age of consent in California, has asked the court to change her gender recognition from male to female and to register her new name, according to court documents available online through PlainSite.org.

Her new name was redacted in the online document. Her mother is Justine Wilson, who divorced Musk in 2008.

There was no further explanation of the rift between Musk's daughter and her father, the Tesla and SpaceX chief who is attempting a $44 billion (£35.8 bn) takeover of social media platform Twitter.

Neither a lawyer who represents Musk nor the Tesla media office has responded to the report.

Earlier this year, Musk declared his support for the US Republican Party, whose elected representatives support a raft of legislation that would limit transgender rights in states across the country.

https://news.sky.com/story/elon-mus...o-do-with-father-12637668?dcmp=snt-sf-twitter
 
Elon Musk has pulled out of a deal to take over Twitter for $44bn (£36.5bn).

In a statement provided to the US Securities and Exchange Commission, representatives for Mr Musk said Twitter breached terms of an agreement and "appears to have made false and misleading representations".

They said Twitter had also failed to provide data and information requested by Mr Musk to enable him to "make an independent assessment of the prevalence of fake or spam accounts" on the social media platform.

"Sometimes Twitter has ignored Mr Musk's requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr Musk incomplete or unusable information," the statement continued.

As a result of Mr Musk's decision, shares of Twitter fell 7% in extended trading, well below the $54.20 that he had offered to pay for the company back in April.

The terms of the deal require Mr Musk to pay a $1bn (£830m) break-up fee if he does not complete the transaction.

However, it seems Twitter's board is not planning to accept the payment and will instead take legal action.

SKY
 
Elon Musk denies affair with Google co-founder Sergey Brin's wife
SpaceX and Tesla founder Elon Musk says the reports are "total **" and that there was "nothing romantic" between him and Nicole Shanahan.

Elon Musk has denied reports that he had a brief affair with Google co-founder Sergey Brin's wife, Nicole Shanahan.

The Tesla and SpaceX boss said on Twitter there was "nothing romantic" between him and Ms Shanahan, adding that he and Mr Brin remain friends.

Mr Musk's tweets came after a Wall Street Journal (WSJ) report that cited unidentified sources saying he had engaged in a brief affair with Ms Shanahan.

The paper said the affair prompted Mr Brin to file for divorce from Ms Shanahan earlier this year and ended the tech billionaires' long friendship.

Musk replied to a tweet about the story on Twitter, adding that it was "total **".


Tesla and Google, whose parent company is Alphabet Inc, did not immediately respond to requests for comment, and neither Mr Brin nor Ms Shanahan were available for immediate comment.

A lawyer for Mr Brin declined to comment to the WSJ, and Ms Shanahan didn't respond to requests from the paper for comment.

Mr Brin filed for divorce citing "irreconcilable differences," the Journal said, quoting records it said were filed in Santa Clara County Superior Court.

Reuters news agency was unable to determine independently whether divorce papers have been filed.

In its report, the WSJ also said Mr Brin instructed his advisers to sell personal investments in Mr Musk's companies after he came to know about the affair.

The paper said it wasn't able to determine how large those investments were, nor whether any sales were made.

BBC
 
Elon Musk has pulled out of a deal to take over Twitter for $44bn (£36.5bn).

Relieved about this. He would have allowed Trump back on it to say whatever lies he liked. Freedom of speech is fine uyp to a point, but there have to be constraints on those who would misuse it to deceive.
 
Musk is just a weirdo.

Twitter is in decline anyway. Though I find it hilarious liberals want to ban users from speaking alleged lies or views that do not conform to JC agenda, but same liberals support extradition of those who expose the truth (Assange).
 
Relieved about this. He would have allowed Trump back on it to say whatever lies he liked. Freedom of speech is fine uyp to a point, but there have to be constraints on those who would misuse it to deceive.

Constraint?
So conservatives can ask for constraint too, it’s a two way street and dangerous precedent as to what Twitter has done, this will create a monster in future.
 
Musk might be a weirdo but he is great at what he does.

https://www.space.com/spacex-starlink-group-4-25-rocket-launch

He had a vision for this

“SpaceX launches 53 Starlink satellites, lands Falcon 9 on droneship.
It was SpaceX's 33rd launch of 2022.”

—-

Credit to his vision.

Sure he has a vision, but people do have a vision, just need the money, which he has. Though he is one of the few Tech Billionaires who never invented a thing. He got lucky with his investment PayPal.

By the way, Starlink isn't a new concept at all.
 
Sure he has a vision, but people do have a vision, just need the money, which he has. Though he is one of the few Tech Billionaires who never invented a thing. He got lucky with his investment PayPal.

By the way, Starlink isn't a new concept at all.

Neither was youtube, ipad, ipod.. but the timing and execution matters..

He has been lucky yes but he also took the risks credit to him for that.

I’m certain the upcoming applecar, glasses aren’t new either but their execution would separate them apart.
 
Neither was youtube, ipad, ipod.. but the timing and execution matters..

He has been lucky yes but he also took the risks credit to him for that.

I’m certain the upcoming applecar, glasses aren’t new either but their execution would separate them apart.

I'm talking about being visionary. Youtube, ipads, etc were not visionary, but revolutionary. Applecar is not visionary either. Being visionary is to think ahead, not polish an existing concept.

Electric cars are not visionary either.
 
I'm talking about being visionary. Youtube, ipads, etc were not visionary, but revolutionary. Applecar is not visionary either. Being visionary is to think ahead, not polish an existing concept.

Electric cars are not visionary either.

Fair point but his Vision is currently of Human civilization in Mars..
 
Elon Musk Files Countersuit Against Twitter Over $44 Billion Deal
Elon Musk vs Twitter: Elon Musk has filed a countersuit against Twitter on Friday under seal but the 164-page document was not publicly available, under court rules a redacted version could soon be made public.

Wilmington: Elon Musk countersued Twitter Inc on Friday, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase, although the lawsuit was filed confidentially.
Although the 164-page document was not publicly available, under court rules a redacted version could soon be made public.

Musk's lawsuit was filed hours after Chancellor Kathaleen McCormick of the Delaware Court of Chancery ordered a five-day trial beginning Oct. 17 to determine if Musk can walk away from the deal.

Twitter did not immediately respond to a request for comment.

Musk, the world's richest person and chief executive of Tesla Inc, said he was abandoning the takeover and blamed Twitter Inc for breaching the agreement by misrepresenting the number of fake accounts on its platform.

Twitter sued days later, calling the fake account claims a distraction and saying Musk was bound by the merger contract to close the deal at $54.20 per share. The company's shares ended on Friday at $41.61, the highest close since Musk abandoned the deal.

McCormick fast-tracked the case to trial last week, saying she wanted to limit the potential harm to Twitter caused by the uncertainty of the deal.

Twitter has blamed the court fight for slumping revenue and causing chaos within the company.

The two sides had basically agreed to an Oct. 17 trial, but were at odds over the limits of discovery, or access to internal documents and other evidence.

Musk accused Twitter this week of dragging its feet in response to his discovery requests, and Twitter accused him of seeking huge amounts of data that are irrelevant to the main issue in the case: whether Musk had violated the deal contract.

The chief judge in her order appeared to anticipate discovery disputes to come.

"This order does not resolve any specific discovery disputes, including the propriety of any requests for large data sets," said McCormick.

Musk also faces a week-long trial in Wilmington, Delaware, beginning Oct. 24. A Tesla shareholder is seeking to void as corporate waste and unjust enrichment the CEO's record-breaking $56 billion pay package from the electric vehicle maker.

NDTV
 
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