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Elon Musk, Tesla and SpaceX Hit with $258B Dogecoin Lawsuit

5 points by axiomdata316 4y ago

cheerioty 4y ago
“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” ... Elon on SNL: "It's a hustle"...
- deleted 4y ago
  [deleted]
- mirekrusin 4y ago
  You can also invest your money by shorting. btw. did this guy pay Musk for investment advice or something?
  - jqpabc123 4y ago
    He paid others --- based on Musk's advice and repeated comments on Twitter which lead directly to the price being inflated. What Musk did was brash and not very smart. This guy's lawyer obviously thinks the chances of forcing Musk to pay something as a result are pretty good.
    - mirekrusin 4y ago
      He just tweeted "USA birth rate has been below min sustainable levels for ~50 years" – does it mean in 9 months he will be sued for alimony?
      - jqpabc123 4y ago
        Yes, probably.
Yeahsureok 4y ago
There's a strangely large amount of people who just need spacex to fail for their own enjoyment. Reminds me of "the mosted hated man in America" who got sentenced to 8 years in jail for a tweet. Meanwhile faceless people do the exact same thing every week that made him so hated and no one bats an eyelid nor could they name a single person involved. I'm sure this is entirely organic hatred and not manufactured at all.
- mardiyah 4y ago
  well done absolutely
- jqpabc123 4y ago
  So don't hurt daddy then? Meanwhile faceless people do the exact same thing every week Yes they do. So what is the difference? How about the extent of actual harm? When faceless people do it, virtually no one get hurts because they don't take it seriously. When the richest man in the world does it openly and profits from it and lots of people suffer real harm in the process --- there can be legal repercussions. As there should be don't you think? What he did with Dogecoin looks like a fairly obvious example of "pump and dump" --- illegal in any "regulated" market.
- smt88 4y ago
  SpaceX is a beloved company that people regularly say is the only example of a true privatization success story. It's not being shorted or maligned like Tesla is. > Reminds me of "the mosted hated man in America" who got sentenced to 8 years in jail for a tweet. This did not happen, at least not in a US court.
  - sva_ 4y ago
    > It's not being shorted or maligned like Tesla is. Correct me if I'm wrong, but I don't think you can short a private company, which SpaceX is.
    - smt88 4y ago
      Sorry, that wasn't clear. Tesla/Musk have blamed a lot of bad press and negative comments on smear campaigns, which they say are orchestrated by short sellers. If that's true (which it probably isn't), SpaceX doesn't have any short sellers that would want to orchestrate anything. They don't because they can't, as you said. So the general PR situation for SpaceX is wildly different from Tesla in every way. People still love SpaceX.
djohnston 4y ago
Boeing and car dealership lobbies as strange bedfellows?

5 points by axiomdata316 4y ago

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” ... Elon on SNL: "It's a hustle"...

deleted 4y ago
[deleted]
mirekrusin 4y ago
You can also invest your money by shorting. btw. did this guy pay Musk for investment advice or something?
- jqpabc123 4y ago
  He paid others --- based on Musk's advice and repeated comments on Twitter which lead directly to the price being inflated. What Musk did was brash and not very smart. This guy's lawyer obviously thinks the chances of forcing Musk to pay something as a result are pretty good.
  - mirekrusin 4y ago
    He just tweeted "USA birth rate has been below min sustainable levels for ~50 years" – does it mean in 9 months he will be sued for alimony?
    - jqpabc123 4y ago
      Yes, probably.

Yeahsureok 4y ago

There's a strangely large amount of people who just need spacex to fail for their own enjoyment. Reminds me of "the mosted hated man in America" who got sentenced to 8 years in jail for a tweet. Meanwhile faceless people do the exact same thing every week that made him so hated and no one bats an eyelid nor could they name a single person involved. I'm sure this is entirely organic hatred and not manufactured at all.

mardiyah 4y ago
well done absolutely
jqpabc123 4y ago
So don't hurt daddy then? Meanwhile faceless people do the exact same thing every week Yes they do. So what is the difference? How about the extent of actual harm? When faceless people do it, virtually no one get hurts because they don't take it seriously. When the richest man in the world does it openly and profits from it and lots of people suffer real harm in the process --- there can be legal repercussions. As there should be don't you think? What he did with Dogecoin looks like a fairly obvious example of "pump and dump" --- illegal in any "regulated" market.
smt88 4y ago
SpaceX is a beloved company that people regularly say is the only example of a true privatization success story. It's not being shorted or maligned like Tesla is. > Reminds me of "the mosted hated man in America" who got sentenced to 8 years in jail for a tweet. This did not happen, at least not in a US court.
- sva_ 4y ago
  > It's not being shorted or maligned like Tesla is. Correct me if I'm wrong, but I don't think you can short a private company, which SpaceX is.
  - smt88 4y ago
    Sorry, that wasn't clear. Tesla/Musk have blamed a lot of bad press and negative comments on smear campaigns, which they say are orchestrated by short sellers. If that's true (which it probably isn't), SpaceX doesn't have any short sellers that would want to orchestrate anything. They don't because they can't, as you said. So the general PR situation for SpaceX is wildly different from Tesla in every way. People still love SpaceX.

djohnston 4y ago

Boeing and car dealership lobbies as strange bedfellows?