General > General Technical Chat
Elon Musk is a nice chap
PlainName:
I don't see that it makes much difference. If you buy used stuff, for instance, off Ebay you expect it to work. You may pay far more than it's worth (see, you're not very clever at Ebay) but it should work. Let's say you pay $1m for a 'used' Apple II and get it only to find it doesn't work and all the caps have leaked everywhere corroding the board. Your stance would be akin to saying well, you paid stupid money and therefore you deserve to be scammed since you'd've been $999,000 down on the true worth anyway. That's all beside the point - the vendor scammed you be implying it worked, and even though you'll lose that $1m on some other frivolous thing, that's irrelevant.
Musk, who was in charge and had the inside info and control, more or less said he was going to go private. It wasn't a "maybe sometime if I make up my mind" thing - he gave a specific price and said funding was there. You may consider him a two-faced lying git, but the fact is he is an authoritative source and the SEC fined him (and forced his removal) for mouthing off because of that.
wraper:
--- Quote from: PlainName on February 05, 2023, 11:56:48 am ---I don't see that it makes much difference. If you buy used stuff, for instance, off Ebay you expect it to work. You may pay far more than it's worth (see, you're not very clever at Ebay) but it should work. Let's say you pay $1m for a 'used' Apple II and get it only to find it doesn't work and all the caps have leaked everywhere corroding the board. Your stance would be akin to saying well, you paid stupid money and therefore you deserve to be scammed since you'd've been $999,000 down on the true worth anyway. That's all beside the point - the vendor scammed you be implying it worked, and even though you'll lose that $1m on some other frivolous thing, that's irrelevant.
Musk, who was in charge and had the inside info and control, more or less said he was going to go private. It wasn't a "maybe sometime if I make up my mind" thing - he gave a specific price and said funding was there. You may consider him a two-faced lying git, but the fact is he is an authoritative source and the SEC fined him (and forced his removal) for mouthing off because of that.
--- End quote ---
You miss the fact that what he tweeted about taking it private is not a company inside but his personal thing. It was not up to him to single handedly decide to take it private but rather voted by shareholders. All he could do was personally get the funding and make an offer. Of course he had the voting right too but he had about 20% IIRC. He did basically the same thing with twitter. Bought 9% of their shares and then publicly annouced for how much he wants to buy it and take private.
--- Quote ---SEC fined him (and forced his removal) for mouthing off because of that.
--- End quote ---
It wasn't a fine per se. It was settlement. As he later explained, he agreed to it because litigating with SEC would be very harmful for Tesla due to banks withholding the funding during the time when Tesla was really short on finances. Look into this from patent troll analogy standpoint and why they thrive in US and often get paid right away or through court settlement instead of respondent litigating to the end and winning the case. It's because litigation is way more expensive/harmful than simply paying the ransom even if you are not actually at fault.
james_s:
--- Quote from: wraper on February 05, 2023, 10:10:09 am ---I'll elaborate on that. About 97% of daytraders eventually lose their money and only 1% actually end with profit in long term. And it sucks all of the life out of you. Yet there is no end to those who want to proft this way. That's why dayreaders and daytrading are stupid.
--- End quote ---
You can't save everyone from themselves. While I agree that one should not blame the victim in lieu of blaming the perpetrator, in many cases the victim does deserve some blame. There are loads of people out there looking to victimize someone, bad things are always going to happen, we can all make choices that lessen the chance of bad things happening to us.
SiliconWizard:
--- Quote from: james_s on February 05, 2023, 09:13:16 pm ---
--- Quote from: wraper on February 05, 2023, 10:10:09 am ---I'll elaborate on that. About 97% of daytraders eventually lose their money and only 1% actually end with profit in long term. And it sucks all of the life out of you. Yet there is no end to those who want to proft this way. That's why dayreaders and daytrading are stupid.
--- End quote ---
You can't save everyone from themselves. While I agree that one should not blame the victim in lieu of blaming the perpetrator, in many cases the victim does deserve some blame. There are loads of people out there looking to victimize someone, bad things are always going to happen, we can all make choices that lessen the chance of bad things happening to us.
--- End quote ---
Again we're not talking about people threatening others with a gun here. It's all 100% voluntary, people game, and they lose. For whatever reason.
This is what adult life is all about.
tszaboo:
--- Quote from: PlainName on February 05, 2023, 11:56:48 am ---Musk, who was in charge and had the inside info and control, more or less said he was going to go private. It wasn't a "maybe sometime if I make up my mind" thing - he gave a specific price and said funding was there. You may consider him a two-faced lying git, but the fact is he is an authoritative source and the SEC fined him (and forced his removal) for mouthing off because of that.
--- End quote ---
Apparently the SEC charges were not brought up during the trial.
https://www.bloomberg.com/news/articles/2022-12-07/tesla-judge-rules-sec-deal-off-limits-in-musk-tweet-fraud-trial
"But the judge ruled that telling jurors that the probe resulted in a lawsuit and a settlement more than a month later might create “unfair prejudice” against Musk and Tesla." Kangaroo court.
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