Tesla - Pimping Elon's Ride?


#1922

Its poor Mantissa I feel sorry for, he has to switch sides now

I don’t think so, his father was an engineer and his mother was a model I think, so just a normal middle class life in 70/80s South Africa

He didn’t have much when he arrived in Canada, AFAIK he got a scholarship to attend University, so not quite Cecil Rhodes

I agree, was in the music business myself for a while, roadie for Metallica, Speed of Sound tour, bunch of assholes


#1923

LOL. You really can’t help yourself, can you? You’re quite Trump-like in that regard. Never happy just blowing your own trumpet, gotta put someone else down. But then, I’m sure you’re probably Trump’s life coach in between your music and science careers, which themselves are just sidelines to running the tech world and being an expert on worldwide politics. :smiley:


#1924

Elon Musk reveals funding for taking Tesla private: Saudi oil money
sfchronicle.com/business/ar … 152363.php

en.wikipedia.org/wiki/Public_Investment_Fund_of_Saudi_Arabia


#1925

Who called who a creepy old git. You remind me of a gobshite who worked at the first company I worked for in SoCal when I first moved here. Always loud in expressing his big opinions on everything. Especially anything non tech. Not that he was slow to opine on the tech subjects. But a quick look at his code showed he knew fuck all about programming despite claims to the title of tech lead / architect. Soon after he made a big deal about been head hunted to some big job at a research institute. Turned out he became a glorified IT support guy at UCSD. Which he never ventured beyond.

Now he is relevant to your case because despite his big opinions and his self certainty about them he actually grew up in some podunc little shithole in the Mid West and actually knew damn all about the wider world. And because of this found it impossible to comprehend that other people, such as the person in front of him expressing a different opinion, might actual not only know what they are talking about but have a much wider experience of the world than them. Utterly beyond his comprehension. Because he was a small minded person living in a very tiny world.

One trivial example will illustrate. Quite a funny one. One day he was shooting his usual shit in the office and the subject then turns to, as it does when young guys are bullshitting, to how much a Playboy Playmate of the Month got paid. This was in the mid 1980’s. He said in a very authoritative voice that it was $35K. I piped in that actually it was $13K for the main shoot and a further $9K if made Playmate of the Year. (I think I remember the numbers correctly…) Plus appearance and other fees as add ons. Which could be quite substantial. He did not ask how I knew these numbers he just immediately turned and left. Because it was obvious he had just pulled the $35K number out of his ass. If he had asked I could have told him that the only reason I knew these numbers is because the grade school / high school best friend of my then girlfriend had been Miss April the previous year. Never met her but she sounded like a fun person. With some of the money from the Playmate shoot she bought the prop red pickup truck that had been driven by Clark Kent in one of the early Superman movies and had a blast driving it around LA. It was a very recognizable vehicle at the time.

See, ps, just because you seem to have had such a boring mundane life not seeming to have met any interesting people does not mean the rest of us have led (or lead) such nondescript or uninteresting lives.


#1926

Dog with bone … even more Trumplike. :smiley:

Yep, how boring of me to spend so little time reminiscing about winning petty office arguments 35 years ago about Playboy wages (earned by one of these “interesting people” whom you never actually met). And referring to it as “quite funny”. If only I could be so entertaining. :laughing:


#1927

You’re up early. And quickly re-editing your posts too I see.

And still making a fool of yourself.

Anyway, if you have anything interesting to add on the Tesla subject due to your very deep and long experience of the West Coast tech and business scene please let us all know.

So what are his odds of beating a formal SEC inquiry given the case law? And given that none of the people who he said were signed up actually were. Or are.


#1928

There is not much evidence of secure funding, Just preliminary talks with some sheiks


#1929

jmc- you’ve got to write a book!


#1930

waterfordwhispersnews.com/2018/0 … sh-market/

Brilliant.


#1931

Having read that SF chronicle article it doesn’t strike me that anything is secured.


#1932

I thought people’s motivations in buying electric cars was to stick it to the Saudis?

:blush:

“Saudi fund may only play minor part in Musk’s $72bn Tesla plan”

rte.ie/news/business/2018/0 … esla-plan/


#1933

Independent directors on Tesla board hired law firms to protect themselves from inevitable malfeasance / misconduct lawsuits…

nytimes.com/2018/08/14/business/dealbook/tesla-board-musk-tweets.html#click=https://t.co/QWllM3EvlI

They all better make sure that their D&O (Directors and officers liability) insurance is all paid up and watertight with no wriggle room. Because it sounds like they are going to need it.


#1934

why would they need to lawyer up if tesla isnt taking on their recommendations?

Imagine the board meets with musk saying to the directors that boneheads questions are boring!


#1935

#1936

Am looking forward to Azealia Banks’ deposition :smiley:


#1937

Hold off on the champagne @jmc

Tesla, Musk face SEC wrist slap at worst, experts say: Frankel
reuters.com/article/us-tesl … SKBN1L10YN


#1938

The “legal analyst” is some Slovenian woman who has a law degree from Harvard and looks like an Adjunct at Georgetown. Writes papers on how the SEC is too soft on enforcement. Which is what you have to do when an Adjunct. Find an angle and write lots of papers. Thats how you make tenure track.

I’m sure the reporter would have got far better legal analysis at certain bars in Midtown Manhattan on a Friday night where people from certain street law firms hang out.

The SEC stuff takes years. The fact that they are already leaking the investigation tells me they are mightily pissed off. But its the NHTSA, which moves even slower, and that Musk is currently stonewalling, which will eventually put Teslas off the road.

The other fun stories kicking around are the outside directors are somewhat deficient in the D&O insurance department, hence them lawyering up. And then there are the whistleblowers tweets of photos, VIN’s, documentation etc showing that Tetsla knowing shipped defective cars to meet arbitrary production goals. And that the claimed production numbers were also often overstated. If the defective product claims have any validity thats a felony jailing offense in California, let alone under Federal law.

I think we are now very much on the Robert Maxwell arc. I assume someone has already opened a book on when we will have our next celebrity CEO suicide.

Does Musk have yacht?


#1939

Come on the SEC is a joke. Small fines relative to relatively serious fraud activities is there MO. I cant remember the last time they persued jail time for bankers.


#1940

The SEC is a civil regulatory agency. It has no criminal jurisdiction. The criminal cases (plural) come later, brought by one or more agencies that have criminal enforcement authority. So, say, Deutsche Bank get hit with a few million of civil penalties from the SEC and then years later get whacked in the criminal case with a few billion by the DoJ. Thats a fairly typical scenario in these cases. There are lots of agencies who send bankers to jail, or at least threaten to, before the plea bargain. The DoJ, Federal DA’s, State AG’s. State regulatory agencies with criminal enforcement authority etc. The list is very long.

The SEC prosecution is usually the first step of a civil case leading to criminal case process that can often last a decade or more. But given the immense legal expense for those charged and the usually multiple cases in multiple jurisdictions that proceed from a successful SEC civil case unless you have the legal resources of a huge company or access to huge liquid wealth you settle very quickly. And the terms of the settlement is usually sealed with a boiler plate public announcement. For an individual start with a 7 figure sum for basic legal representation in these cases. So most individuals settle for the plea bargain.

I’ve not seen the results of a SEC enforcement up close but I’ve seen what a much lesser FTC enforcement decree did to two dodgy operations and the principals involved. The fancy cars and the fancy houses and flash lifestyle were gone never to return and in the decades since although not left pushing shopping carts on the streets all involved seem to be living very modest lifestyles with their previous high profile business careers ended. In once case we are talking coverage in the NYT, WSJ etc at the time.

So not exactly a slap on the wrist.

The media is never very good at the follow up stories in this very long drawn out process. Plus “The System Basically Works - even though it takes a long time” is never a good subject to hang an faux outrage story on.


#1941

He’s done a tearful interview with th NY Times

Elon Musk interview: ‘I was not on weed’ when sending fateful tweet on Tesla
Electric car company founder struggles to maintain composure during first interview since tweeting plan to go private
irishtimes.com/business/inn … -1.3599339