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> Really hard to imagine the richest and most accomplished dude on the planet not being able to secure funding. You don’t have to imagine. It literally already
by isitmadeofglass 5y ago
> Really hard to imagine the richest and most accomplished dude on the planet not being able to secure funding.
You don’t have to imagine. It literally already happened once when he claimed he had funding secured to take Tesla private.
As such, if you can’t imagine him not having funding secured this time, you’re severely lacking in imagination.
- jokethrowaway 5y agoYes, relying on the word of Saudi Arabia without a written agreement was pretty dumb. Especially for 70B. This time the plan seems to have better foundations.
- WatchDog 5y agoElon claims that in that case the funding was indeed secured.
- shafyy 5y agoIn his latest TED interview [0], Musk said that he had the funding secured for that Tesla private offering. He said that he needed to settle with the SEC so that they wouldn't freeze Tesla's bank accounts, and as part of the settlement he needed to publicly say that he hadn't secured funding. I don't think he's lying. 0: https://www.youtube.com/watch?v=cdZZpaB2kDM https://www.youtube.com/watch?v=cdZZpaB2kDM
- hef19898 5y agoWhy would the SEC block Tesla accounts? The SEC is imposing fines. I call Musks statement a lie.
- shafyy 5y agoI probably didn't get the wording right (just paraphrased from memory). But watch the TED interview I linked to get more info.
- _fizz_buzz_ 5y agoThat sounds super dubious, the SEC forced him to publicly lie in a settlement? Sorry, I am not buying it. You would have to put at least a dozen SEC lawyers on suicide watch after such a deal. And not only did they force him to lie in a settlement, now he suddenly breaks what he agreed to in that settlement without any consequences, so what was that settlement worth to begin with.
- cloutchaser 5y agoYes, it sounds plausible, because if Tesla is threatened by certain SEC sanctions or legal troubles, banks could withdraw funding or raise interest rates on Tesla's debt, which would bankrupt the company. Or insurance companies could raise premiums or refuse to insure the company which again - could lead to catastrophe. This is what Elon is saying and it sounds like a perfectly plausible scenario, under which you'd rather avoid the conflict and just shut up and sign and pay the fine.
- _fizz_buzz_ 5y agoIt sounds plausible to you that SEC lawyers drew up a settlement that forced Musk to lie publicly about the funding situation of taking TSLA private? This would open up that lawyer for all sorts of criminal and private lawsuits and that poor guy doesn't even have anything personally to gain from forcing Musk to lie. Sorry, those are ludicrous allegations.
- imgabe 5y agoHe literally has like 5x the market cap of Twitter in net worth. Yeah, that makes it pretty hard to imagine that he couldn't secure funding. Not really the same as the Tesla tweet.