4 ms·
He got fined a few tens of millions of dollars a while back for tweeting a market-manipulating weed joke. Literally, this is not an exaggeration at all. Then i
by giraffe_lady 5y ago
He got fined a few tens of millions of dollars a while back for tweeting a market-manipulating weed joke. Literally, this is not an exaggeration at all.
Then iirc the SEC put a restriction where his tweets about his companies had to be like, nominally vetted by an officer of the company or something, I don't remember the details. Anyway he basically just refused, but also afaik hasn't tweeted concrete financial lies since then either.
Matt Levine has argued pretty convincingly that musk's highly visible online unpredictability is a net asset for tesla, but contingent on specific circumstances and still carrying risks. It's not surprising at all that other companies would find those circumstances don't apply to them or the risks aren't worth it.
- jaggederest 5y agoI really think it works better if you define the "fine" in terms of percent of net wealth. 1 basis point, or 0.01%
- giraffe_lady 5y agoIf you want! That's the least interesting detail of the whole story to me so I didn't remember it or feel like looking it up. Thank you though.
- bin_bash 5y agoTo me there is a big difference between joking about the price being $420 and the "funding secured" tweet.
- vmception 5y agoTo me there is a big difference in finding issue with that, and finding the SEC to be the proper authority to do anything about it.