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How Elon Musk's Twitter posts get Tesla in trouble



Elon Musk has a lot to do in Tesla. As he tries to change the course of automotive history, he also appears to be trying to change the laws of time and physics: there could not be enough time to stop the production of the Model 3 – the car Tesla was supposed to pick up – drive up to profitability. Analyst Jed Dorsheimer in Cannacord said on CNBC Tuesday that the company has about six to nine months left to become profitable in order to remain liquid.

In the midst of this – while sleeping in the office, sometimes working more than 24 hours a day, often logging 120 hours a week – Musk still seems to somehow find time to post messages on Twitter. Many of them. Unrecognized by his board, Tesla's legal department, or the public relations team, these Twitter contributions range from dad jokes to the dreadful habit of responding to Tesla's supporters and critics.

Musk's Twitter habit has not only led to anger, misunderstandings and demands for excuses, but also investigations by government agencies. While Tesla may need more than full-time attention, it gets less than that ̵

1; and that's just his other company, SpaceX, and its side projects, building super-fast tunnels, transporting flamethrowers, and even making sweets. 19659002] When Tesla burns money, Musk tweets. And tweets. And tweets. His board has asked him to stop. But he leaves. These musk tweets are some of his biggest distractions from Tesla's business.

Union breaks up in a tweet

Last week, in response to a May 20 tweet from Musk, the National Labor Relations Board (NLRB) Jalopnik after Musk had proposed in response to a trade union question that workers would pay fees and "give up stock options"

so the NLRB complaint that Musk's comment could be interpreted as restricting workers' rights to decide freely whether to join a union or not. The United Auto Workers (UAW) filed their complaint shortly after the tweet with the board.

Tesla said the tweet reflected the fact that he did not know of any production car workers represented by UAW, who received limited stock units with terms for the sale) or stock options (the right to buy stock at a certain price).

"Sorry pedo guy"

When a football team of 12 children and their trainer was trapped in a cave system in Thailand In July Musk not only offered an experimental mini-submarine, but took a critical look at Tesla's production Time to deliver it – even though it was left unused. After one of the rescuers, American Vernon Unsworth, called Musk's move a PR stunt and said "He can put his submarine where it hurts," Musk calls him "Pedo-type," meaning he was a pedophile. He hinted that this was the only reason for an American to live in Thailand.

Musk put out the tweets shortly thereafter and apologized on July 18 that his words were spoken in rage. But on Tuesday, Musk leaned against crying what the New York Times had described as an emotional interview. When challenged, the Tesla founder effectively repeated his earlier guesses about Unsworth and rhetorically remarked, "It's strange he did not sue me."

Unsworth's attorney Lin Wood replied Musk that his "should check his mail" reproduced a letter in which he stated that he was preparing a defamation suit which he filed on August 6 via Fedex and E Mail sent to Musk's address in Los Angeles.

"US $ 420 Financing Secured"

Out of the blue, Musk tweeted on August 7 – while the stock markets remained open – that he was considering keeping Tesla private for $ 420 a share and that he was Secured funding. The Tesla Board was unaware. This moved the Tesla share up 6% to close at $ 362.

Musk told the New York Times in a story that appeared on August 16 that no one at Tesla reviewed his tweet before he published it. He also said that the Post's seeming drug joke – 420 is an allusion to marijuana – was unintentional, a matter of rounding off a price premium he had priced from 419 to the nearest whole dollar. "I was not on grass, to be clear," he told The Times.

Musk also did not reveal long after the tweet that he actually had no funding, but he had talks with Saudi Arabia State Fund

Just a few weeks later, on August 27, Musk dropped the plan. The Securities and Exchange Commission is reportedly investigating its statements. If the SEC determines that Musk has committed deliberate fraud or is ruthless in what he said, he may be prohibited from serving as director of a listed company such as Tesla.

Tesla shares have since declined, often preceded by a musk tweet, to just under $ 305 at the end of regular trading on Wednesday. That's still way above its price in the recent past, but 20% off the high.

The Pravda Post

After a series of investigative reports on Tesla's factory safety and other matters, Musk tweeted in May that he would go Create a website that allows anyone to read about the "core truth" of news and to create a credibility score for journalists, editors and publications.

He proposed to call it "Pravda" The name of the leading state-controlled newspaper in Soviet Russia The Russian word means "truth".

This post did not come out of nowhere, a company called Pravda Corp. was certified as a foreign company in Delaware in October 2017, with an officer affiliated with other Musk companies, Musk confirmed his connection to Gizmodo and that he would start working after finishing the Model 3. [19659003MuskhasalsotweetedbeforethathewouldsetupacandyfirmtocompetewithWarrenBuffett'sSea'sCandiesjoke)anda"comedyproject"topossiblytakeseriously The Onion since he had hired some Onion employees.

Of course, Musk's argument can be cited. Twitter posts offer priceless advertising and help him capture the pictures of his U to create companies without spending a dime. Who can forget Spaceman? But with all the controversy that accompanies these posts, board members have to wonder what Musk's tweets really cost Tesla?


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