Maybe a thread for high finance and big business related matters?
Price manipulation is a huge deal for public companies. You are lectured endlessly about if it you are in upper management at a public company. Looks like Elon may not have been listening?
With Mr. Musk, it’s just plausible. In some ways, he’s a throwback to 19th-century capitalism but with 21st-century tools. With a 19th-century CEO, all in a day’s work was to manipulate the share price, to ramp it up to facilitate a financing, implement a short squeeze, etc. Read about the doings of Daniel Drew, Cornelius Vanderbilt and Jay Gould. Anything went and investors knew it. Their contemporaries probably did not doubt they were a little crazy too.
Mr. Musk already risked trouble with the SEC over his numerous assurances that Tesla did not need fresh capital this year, a claim many analysts on Wall Street flatly contradict. Then there are his countless production forecasts that haven’t been borne out.
Till now, the SEC’s long leash amounted to, wittingly or otherwise, an experiment in 19th-century capitalism.
These aren’t the first examples of Mr. Musk tweeting that a business deal was in place before it was actually done. About a year ago, he claimed on Twitter that he had “verbal” government approval to build a high-speed, tunnel-based travel system called a Hyperloop from New York City to Washington, D.C. Representatives for Mr. Musk’s tunnel venture, the Boring Co., and the White House both said the two sides had “promising conversations” but didn’t confirm there was a verbal agreement, while New York City Mayor Bill de Blasio tweeted the announcement was “news to City Hall.”
A habitual tweeter, Mr. Musk’s casual tone is unique among CEOs of his stature, and that can sometimes get him in trouble. Last month, he suggested a cave rescuer in Thailand was a pedophile, before later deleting the tweets and apologizing.
Yelp! yeah like I said I was lectured endlessly about this kind of stuff when i was an officer of the company at EA. I am shocked a smarty guy like Musk ignored this. Its not casual advice, its the law, its literally his job to understand how being the CEO of a public company works!
I’m still in the market for Ioun Stones should anyone have some available. Only magical item I ever came across was a Deck of Many Things, and I said “#$%^ that noise.”
Doesn’t surprise me at all. I spoke with a colleague who until recently was at Apple. She told me it was unbelievable just how much of Apple’s business revolves around a few insecure antiquated databases, actually she used the word “spreadsheets” but that cant be right or at least I hope it isnt right.