I’m riddled with shame. White shame. This isn’t helpful to me or to anyone, especially people of color. I feel like there is no “me” outside of my white/upper middle class/cisgender identity. I feel like my literal existence hurts people, like I’m always taking up space that should belong to someone else.
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"The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk's tweets, a charge that Tesla has agreed to settle," the agency said in a statement.
I'm a little surprised that he capitulated, but I guess that shows he isn't completely retarded, only '300 mile vacuum tubes are more economical than high speed railway' retarded.
I doubt he's going to make it to 3 years before he tries to take back full control though, more like 3 months.
And since the whole affair started over a tweet, either careless or intentionally misleading, Musk is required to comply with company oversight and pre-approval of anything he says or posts about Tesla, "in any format, including, but not limited to, posts on social media (e.g., Twitter), the Company’s website (e.g., the Company’s blog), press releases, and investor calls."
This is the best tl;dr I could make, original reduced by 49%. (I'm a bot)
The Securities and Exchange Commission has settled charges with Tesla CEO Elon Musk over his aborted bid to take the company private, with the billionaire expected to remain as the helm of the company while relinquishing his chairman title within 45 days.
The original SEC complaint alleged that Musk issued "False and misleading" statements and failed to properly notify regulators of material company events, after posting on Twitter that he had secured funding to take Tesla private.
"The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla-including Musk's removal as Chairman of the Tesla board-and the payment by Musk and Tesla of financial penalties."
The filing said that on Aug. 2, five days before he sent the tweet, Mr. Musk sent an email to Tesla’s board, chief financial officer and general counsel with the subject line: “Offer to Take Tesla Private at $420.” Mr. Musk said he wanted to put the matter up to a shareholder vote “at the earliest opportunity,” the complaint added, and wanted to do so partly because of the attacks on the company’s stock from bearish investors known as short-sellers.
Mr. Musk, according to the lawsuit, told Tesla’s board that the $420 figure was based on a 20 percent premium to the stock’s Aug. 2 closing price. He then rounded it up to $420 after his girlfriend told him of the number’s significance for marijuana smokers and thought it would be funny.
The board on Aug. 3 authorized Mr. Musk to start talking to some investors about the plan to go private and asked him to report back on those conversations, the complaint said. Mr. Musk had a conversation with at least one large investor, it added, but before anything was close to completion, he began posting statements on Twitter about taking the company private on Aug. 7.
Basically he wanted to stick it to short sellers like a badass saviour. Only he had no investors backing up this move just yet, only potential feelers. He opened up the discussion to POSSIBLY take the company private only to formally announce it on Twitter not long after. He basically blindsided the board. "Hue hue board look at me iamverysmart. I talked to one person so I blew my load early, posted an announcement tweet, I mean committed fraud and then 3edgy5me I made it so the share value is 420 blaze it"
It did. Elon Musk accused someone of being a Pedophile with absolutely no proof whatsoever as his own version of a diva meltdown when he didn't get his way. After accusing someone of one of the worst possible things which in itself is just gross behavior, he tripled down on it, after apologising until he got sued. He then called a reporter a fucking asshole in an email when he asked for validity or some kind of tangible anything regarding those accusations.
This man is a disappointment for many that looked up to him. After that Twitter stunt he pretty much fell apart. He was instructed by the board to stay away from Twitter, and he literally couldn't keep away from creating more dumpster fires
I could believe that, all a few members would have to do is egg him on in a casual setting where he was too close to rich people drugs and too far from his tweet wrangler.
44 comments
1 BussyShillBot 2018-09-29
I’m riddled with shame. White shame. This isn’t helpful to me or to anyone, especially people of color. I feel like there is no “me” outside of my white/upper middle class/cisgender identity. I feel like my literal existence hurts people, like I’m always taking up space that should belong to someone else.
Outlines:
I am a bot for posting Outline.com links. github / Contact for info or issues
1 SnapshillBot 2018-09-29
For anyone reading this, archive.is is probably the highest trafficked archiving site on reddit, and only receives few donations per week (and definitely not enough to run on donations alone). If you can, you can support the creator on Liberapay in order to make sure we have this service for the future.
Snapshots:
I am a bot. (Info / Contact)
1 shaneoffline 2018-09-29
Wow, they jerked him out of his company.
Who's the new chairman - his brother?
1 shaneoffline 2018-09-29
This is cuckoldry
1 Air_Rangoon 2018-09-29
It's the lesser shareholders stealing his shit from him.
But it's funny cuz lol 420 marsman w/ tiny-titty goth gf.
But really it's bullshit.
Feeelin' pretty centrist rat nao.
1 shaneoffline 2018-09-29
I think it's the lesser SEC workers phoning it in because who even knows how to do their own job anymore?
1 agareo 2018-09-29
They're probably musk fans
1 bigberthaboy 2018-09-29
Can u explain for a babby like me?
1 hlary 2018-09-29
drama members are experts of corporate law and these are definitely not just retarded centrist hot takes
1 Zeriell 2018-09-29
Another great argument in favor of never taking your company public. The moment you do, it's fucking over.
1 AlveolarPressure 2018-09-29
Cucking and chucking secured. RIP Space Daddy
1 none_to_remain 2018-09-29
Not completely chucked I believe he is still the CEO.
1 KittehDragoon 2018-09-29
I'm a little surprised that he capitulated, but I guess that shows he isn't completely retarded, only '300 mile vacuum tubes are more economical than high speed railway' retarded.
I doubt he's going to make it to 3 years before he tries to take back full control though, more like 3 months.
1 Redactor0 2018-09-29
SPACE DADDY WILL ALWAYS BE CHAIRMAN OF MY HEART!!! ❤️❤️❤️ 😭
1 zxcv1992 2018-09-29
F
1 PressFBot 2018-09-29
F
1 Matues49 2018-09-29
r/Futurology on suicide watch
1 triptodisneyland2017 2018-09-29
Good
1 _Suprememe_ 2018-09-29
Not yet. They'll hold out for a couple decades until they have to come to terms with the crushing reality that there's still no magic cure for aging.
1 rationalhuckleberry 2018-09-29
Space Daddy gonna have to hand his passwords to Tesla.
1 westofthetracks 2018-09-29
he actually fucking does hahahahaha
1 AlecOzzyHillPitas 2018-09-29
QI predicted this1 Redactor0 2018-09-29
Presumably includes his musings while smoking weed with Joe Rogan as well.
1 sandman9913 2018-09-29
This is bad for DramaCoin.
1 Xingua92 2018-09-29
The EX HR for Tesla said she used to check his tweets to make sure he doesn't say dumb things. She resigned not too long ago.
1 _Suprememe_ 2018-09-29
Musk and Daddy aren't so different, it seems.
1 autotldr 2018-09-29
This is the best tl;dr I could make, original reduced by 49%. (I'm a bot)
Extended Summary | FAQ | Feedback | Top keywords: Tesla#1 Musk#2 company#3 settle#4 chairman#5
1 BIknkbtKitNwniS 2018-09-29
Discrimination against an actual African American 😤
1 REEEorderTheThots 2018-09-29
"he dindu nuttin!"
1 razzmataz 2018-09-29
Would it not be more accurate to call him an Afrikaaner American?
1 Agenda_Poster 2018-09-29
But he wuz a kang and shiet
1 sevgee 2018-09-29
He still is in my heart 😍😍😍
1 [deleted] 2018-09-29
[removed]
1 ownersinc2 2018-09-29
This is good for TSLA
1 Ghdust2 2018-09-29
Grimes and Azealia Banks are somewhere laughing.
1 Xingua92 2018-09-29
Mr. Musk, according to the lawsuit, told Tesla’s board that the $420 figure was based on a 20 percent premium to the stock’s Aug. 2 closing price. He then rounded it up to $420 after his girlfriend told him of the number’s significance for marijuana smokers and thought it would be funny.
The board on Aug. 3 authorized Mr. Musk to start talking to some investors about the plan to go private and asked him to report back on those conversations, the complaint said. Mr. Musk had a conversation with at least one large investor, it added, but before anything was close to completion, he began posting statements on Twitter about taking the company private on Aug. 7.
This is from:https://www.nytimes.com/2018/09/27/business/elon-musk-sec-lawsuit-tesla.html
Basically he wanted to stick it to short sellers like a badass saviour. Only he had no investors backing up this move just yet, only potential feelers. He opened up the discussion to POSSIBLY take the company private only to formally announce it on Twitter not long after. He basically blindsided the board. "Hue hue board look at me iamverysmart. I talked to one person so I blew my load early, posted an announcement tweet, I mean committed fraud and then 3edgy5me I made it so the share value is 420 blaze it"
1 WeWuzKANG5 2018-09-29
Joe Rogan ruined that mans life.
1 captainktainer 2018-09-29
Maybe I'm wrong about timelines, but all the stupid shit happened before he went on Roid, Flat Earth, and Weed Daddy's show.
1 Xingua92 2018-09-29
It did. Elon Musk accused someone of being a Pedophile with absolutely no proof whatsoever as his own version of a diva meltdown when he didn't get his way. After accusing someone of one of the worst possible things which in itself is just gross behavior, he tripled down on it, after apologising until he got sued. He then called a reporter a fucking asshole in an email when he asked for validity or some kind of tangible anything regarding those accusations.
This man is a disappointment for many that looked up to him. After that Twitter stunt he pretty much fell apart. He was instructed by the board to stay away from Twitter, and he literally couldn't keep away from creating more dumpster fires
1 1029384756-mk2 2018-09-29
Joe is a flat earther?
1 Redactor0 2018-09-29
So it was that damn hussy Grimes who taught our poor innocent Elon what "420" means. He just fell in with the wrong crowd.
1 _Suprememe_ 2018-09-29
Gussy, not even once.
1 [deleted] 2018-09-29
[removed]
1 _Suprememe_ 2018-09-29
The SEC basically fired Elon from being his own boss, that might end up being a good thing for the board.
1 Mother_Jabubu 2018-09-29
The board probably engineered it
1 _Suprememe_ 2018-09-29
I could believe that, all a few members would have to do is egg him on in a casual setting where he was too close to rich people drugs and too far from his tweet wrangler.
1 sandman9913 2018-09-29
Doubtful.
1 dopamineway 2018-09-29
Moony Papi 😡😡 takin' a 🅱ig cheese 🙄🍆🍆🍆 from da sec *SEX🍖🍖🍖🍖
1 jaja10 2018-09-29
OUT, AM I?