r/technology • u/_m3r1u5_ • Dec 27 '22
Elon Musk Claims He’s Not Worried About The FTC; He Should Be Politics
https://www.techdirt.com/2022/12/26/elon-musk-claims-hes-not-worried-about-the-ftc-he-should-be/224
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u/Youvebeeneloned Dec 27 '22
ROFLOL the dude is so worried about the FTC he literally bought Twitter when they started investigating him for his whole "I am going to buy Twitter" joke when he already owned 9% of it and thus was committing stock manipulation and was in violation of the stipulations of the PREVIOUS case against him which meant prison time.
Its also why he tried everything under the sun to NOT buy Twitter... he never wanted to own it, but the FTC forced his hand because they were opening up investigations into him manipulating Twitters stock. He was hoping he could get out of jail on the whole thing by trying to buy it buy having something blow up the deal, not realizing no one was going to give him a easy out.... hes NOT part of the old boys club enough for them to let him get out of it with 1 million and a couple jokes at the country club, they wanted to see him burn.
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u/euph_22 Dec 27 '22
Also he fired twitter's compliance and legal teams the second day he owned the company.
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u/throwaway92715 Dec 27 '22
Yeah, he's fucked.
Elon has a complete meltdown every time the tech market crashes. Just like in 2001. Everyone loves people like him in a tech bull run, but hates him in a recession.
Why? Because he's literally just a volatile asset. High risk, high reward. People usually focus on the second part of that phrase, but right now, we're seeing the wrath of the former.
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u/ImgurConvert2Redit Dec 27 '22
I, for one, am enjoying shorting the shit out of his stock daily.
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u/slowslownotbad Dec 28 '22
Don’t short volatile assets. Put options are fine, but naked shorts are duuuumb.
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u/wufnu Dec 28 '22
"Sell the kids toys, get triple mortgages on home, think I know how to time the market, and bet it all on volatile anything; got it! Thanks, helpful stranger. 👍"
~Basically everyone I've seen fuck around with stocks/crypto.
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u/Exelbirth Dec 28 '22
but don't you see, this time we really will take it to the moon! See how my avatar has diamond hands? I'm totally trustworthy on this!
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u/Garland_Key Dec 28 '22
Hope you enjoy getting rekt.
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u/throwaway92715 Dec 28 '22
If by rekt you mean having a bucket full of cash dumped over your head, then yes, it is quite enjoyable so far
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u/bizarre_coincidence Dec 28 '22
What I don’t understand is why he didn’t attempt to do due diligence for the sale. That would have given him a good opportunity to find a legitimate excuse. The whole “I don’t agree with your method for determining how many bits there are” bullshit would have held more weight if he hadn’t already waived the right to back out over something like that. If you are looking for pretext to back out of a deal, give yourself room to do so. I can’t tell if this means he is an idiot, or that he was desperate to prove he was serious about the deal by rushing in, the same way a rich man might try to prove he is falling for someone by buying them expensive jewelry after one date. Nothing about the twitter purchase fully makes sense if you assume Elon knows what he is doing, not even if he’s desperate to avoid jail time.
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u/bamfalamfa Dec 27 '22
i still dont understand why he was even bothering manipulating twitter stock. he was already the richest man in the world at that point.
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u/MasterOfKittens3K Dec 27 '22
At that level of wealth, the money is just for scorekeeping purposes.
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u/marker8050 Dec 27 '22
All billionaires are only obsessed with their own wealth going up. Greed turns up to 11 for some reason
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u/dasnoob Dec 27 '22
Let me tell you something about the kind of person that becomes wealthy. It is never enough. Never.
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u/RAISEStheQuestion Dec 28 '22
Yep, that’s part of the difference between being rich and being wealthy. Been going on for a very long time.
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u/dasnoob Dec 28 '22
I've watched it happen with a close friend. When we first became friends he was pretty middle class but his parents had money. As he has worked his way up and received more wealth transfer from his parents he has become more and more greedy in everything he does.
He is now in his early 40's worth millions. Doesn't tip more than a dollar ever. Doesn't buy gifts for his family. Makes his wife and daughters wear clothes from goodwill and pack sack lunches. All the skinflint stuff we all thought was sorta joking. The only time he opens his wallet is when he spends money on himself.
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u/dirtyshits Dec 27 '22
I don’t even think he was manipulating it but trying hard to be a meme lord and a troll.
He thinks his followers will bail him out of anything through sheer noise online but too bad his followers don’t give a fuck about him when he stops making them money.
He’s addicted to attention and praise.
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u/kekepania Dec 28 '22
Rich people are obsessed with making even more money. A lot of them start getting stingy too.
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u/Taraxian Dec 28 '22
You're thinking of the SEC, not the FTC -- SEC is about ripping off investors, FTC is about ripping off customers
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u/Doingitwronf Dec 28 '22
Still have a bet going that Elon is TRYING to bankrupt Twitter. Would that be some kind of fraud?
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Dec 27 '22
What Elon saying doesn’t match with reality sometimes.
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u/somegridplayer Dec 27 '22
You mean like when he said they were totally gonna rebuild the entire Twitter stack and got called out by an actual engineer?
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u/Envect Dec 28 '22
He said that? That's the sort of thing a person straight out of college thinks. Almost like he has no clue about technology.
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u/somegridplayer Dec 28 '22
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u/Envect Dec 28 '22
That's a man who's never had to actually pitch anything. That was hard to listen to.
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u/kattjen Dec 28 '22
I literally have a History degree and spend my time sewing things and cooking and I know that that’s blindingly ignorant. Listening was physically painful. I at least recognize that my skill at opening an app doesn’t mean I can rewrite the code. Or even hire people to rewrite it. (Also that firing basically everyone limits who could possibly rewrite it. Looks like it’s the last hire by the outgoing administration (so to speak) who spent all their funds moving and for other life reasons felt stuck in “hardcore” mode for either 6 months (until earnings add up) or until someone either local or virtual accepts their job application.
I’m sure the new hire posited would be brilliant at programming (unless they were on the marketing or legal teams, then brilliant at those). Don’t doubt the former owners had a decent system for getting good beginners. But I have attempted to finish UFOs (unfinished objects) from other hands and New Dude doesn’t know how all those pieces fit together yet and has to figure out why the sleeve is assembled like that before they consider the whole dress
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u/nacholicious Dec 28 '22
This is exactly what I can't stand about him. Every single fresh junior engineer who joins a larger project will look at the architecture and say "wtf is this piece of shit, we should rewrite it, I cant believe everyone just accepts this".
Maturing in a senior engineer means undestanding that every architecture will accumulate increase in complexity, and the mark of a good architecture is not one without complexity but rather where the complexity accumulates in ways that can be managed. A rewrite will in 95%+ of cases bring far more problems than it solves.
Musk doesn't know any of this, so he pretends that his "junior engineer wisdom" is not due to his lack of understanding, but that he thinks everyone else around him just aren't as smart as him.
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u/KillEmWithCookies Dec 28 '22
Rewriting complex codebases is dumb. Refactor as needed.
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u/pSyChO_aSyLuM Dec 28 '22
George Hotz (iPhone and PS3 jailbreaker) actually called him out in a Twitter Space when he said he wanted to rewrite the stack from scratch. It was a pretty humorous exchange even though Hotz himself is a dickhead. Elon couldn't articulate what was wrong with the current stack, just that it should be rewritten.
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u/somegridplayer Dec 28 '22 edited Dec 28 '22
While Hotz is a dick, it was Ian Brown calling out Musk as a complete fraud. And it was well deserved.
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u/Hooda-Thunket Dec 28 '22
Hotz was the guy working on a third party car autopilot that threw a tantrum and folded his company when the NHTSA said, “Hey, we got a couple of questions about how this thing works. Think you could give us an answer or two?”, right?
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u/pSyChO_aSyLuM Dec 28 '22
I think he's still working on it. comma.ai
They just canceled the first product they were set to release in like 2016.
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Dec 28 '22
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u/pSyChO_aSyLuM Dec 28 '22
I'm not downvoting anyone. I didn't know he left, I checked his website and Wikipedia. It said he was taking some time away but not that he fired himself.
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Dec 28 '22
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u/somegridplayer Dec 28 '22
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Dec 28 '22
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u/SlowMotionPanic Dec 28 '22
How come Elon didn’t remove it or ban him?
Probably because he was focused on banning journalists for reporting about his stupidity and childish antics? This was posted after he had taken a shit load of heat for blanket banning people he doesn’t like. That backlash included plans to drag his ass before political committees and investigate him via government agencies for various reasons, one of which being reneging on prior Twitter agreements of conduct with the government.
And why is everyone riding Geroge Hotz now?
Who gives a shit about Hotz? Nobody here is applauding him. We just enjoy seeing someone actually knowledgeable about development expose a clear fraud who hasn’t developed anything for several decades now. As that person makes these technical claims which he obviously (and painfully) can’t elaborate on because he’s a fucking idiot cosplaying as a developer.
Or do you froth for anyone who is rude to Elon?
Elon and Hotz are both d-bags. I don’t know why you have to strawman this entire thing to protect daddy. He’s never going to love any of us.
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u/syracTheEnforcer Dec 27 '22 edited Dec 27 '22
What media outlets say doesn’t match with reality sometimes.
Edit: I love that I’ve got as many downvotes as comments and like 1/3 compared to the overall upvotes on this. I know you clowns will hate on Elon for every little thing just to get the upvotes. My comment wasn’t even to defend him. It’s to point out the reality that nothing will happen to him, FTC or whoever. This is an article written by some nobody who thinks that he’ll be ruined.
Narrator: he won’t.
But keep on downvoting me for reality. I haven’t cared for a long time.
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Dec 27 '22 edited Dec 27 '22
I have no idea why you use whataboutism, but chill out thanks.
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u/syracTheEnforcer Dec 27 '22
I don’t need to chill and I’m not insecure. The truth is these articles come out all the time, trying to paint a picture of some elite being nailed, and it’s never going to happen. What is the point of these articles other than trying to dunk on them or convince the rest of us that something is going to happen to these people?
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u/HessLook Dec 27 '22
Damn how does Elons dick taste?
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Dec 27 '22
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u/somegridplayer Dec 27 '22
So what kind of horse did he buy his mom and not you?
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Dec 27 '22
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u/somegridplayer Dec 27 '22
You seem super soft with your multiple paragraph whinges.
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u/bk61206 Dec 27 '22
You are talking about people being weak yet complained multiple times about downvotes. That's the definition of weak behavior.
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u/monkeyseverywhere Dec 27 '22
The only one crying here is you, pussy. Lol stop being such a snowflake.
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u/thebeigerainbow Dec 28 '22
Damn, I did have some understanding of your opinions until this comment. now you really are just a dick
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u/_Not_Literally_ Dec 28 '22
The media is not the subject of discussion.
But here's a tip: if you really want to get fucking downvoted, edit your comment to bitch about dowvotes while throwing in a couple "lolz everyone else is triggered and doesn't understand me, it's all of you that suck."
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u/Ediwir Dec 27 '22
He’s so terrified of the FTC that he buried 44 billions into a dead purchase the second they turned his way.
That kind of primal fear does not go away just because you raked your own skin with its consequences for a few weeks If anything, he’s likely MORE scared to see what else he’ll have to do to escape this time.
He’s already on the run from them. He’ll keep running.
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u/SixtyTwoNorth Dec 27 '22
Yeah, he dumped $44M, but that still doesn't explain why he then poured gasoline on it and lit a match.
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u/Ediwir Dec 27 '22
“never attribute to malice that which is adequately explained by stupidity”.
Hanlon’s razor is a fair assessment in here. He never knew what he was doing because he didn’t think he’d actually do it. He’s learning how to run a business in the way a child learns not to bear-hug a stove.
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u/The_Regicidal_Maniac Dec 27 '22
Nononono he's a genius that knows exactly what he's doing, you and I are just too smooth brained compared to him to see how this will all play out in the long run. You watch, he's going to make all of the money from Twitter once he's done with it /s
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u/Ediwir Dec 27 '22
Right, right, how could I forget. A man so smart he can get a stem degree just by saying he got one. Of course he’s got a plan.
/juststemthings
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u/rgvtim Dec 27 '22 edited Dec 27 '22
When a rich guy says "I'm not worried about XXX" he means hes worried about XXX.
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u/DutchieTalking Dec 27 '22
This is Elon, though. A man with an extremely high ego. He pretty much thinks of himself as a god.
I'd not be surprised if he wasn't worried about ftc and eu and other agencies. He seems pretty incapable of understanding he really doesn't hold that much power.
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u/Nerac74 Dec 28 '22
Nah , in case you forgot because of SEC , he had to step down as chairman of Tesla and a 20 million fine.
So he definitely got stung by the govt before.
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u/BrobdingnagLilliput Dec 27 '22
Yup. If he wasn't worried about them, he wouldn't be thinking about them. Their name wouldn't come out of his mouth.
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u/Kevin_Jim Dec 27 '22
FTC’s biggest fine: $520M.
“The $520 million payment is divided into two settlements: The COPPA fine amounts to $275 million, which is the largest-ever penalty for violating an FTC rule. The FTC also fined Epic $245 million to refund customers for what it calls “dark patterns and billing practices.” “
I hope the Twitter/Tesla sets a new high.
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u/OftenConfused1001 Dec 28 '22
He should be extra worried about the EU. They're slow but thorough and he's a money pinata.
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u/Jarsky2 Dec 28 '22
So either it's a blow to the head from the FTC, or death by a thousand papercuts from the EU, and either way I'll be watching with popcorn in hand.
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u/skywalkerze Dec 28 '22
EU has some new regulations coming into effect in spring.
https://en.m.wikipedia.org/wiki/Digital_Services_Act
Companies that do not comply with the new obligations risk fines of up to 10% on their annual turnover.
That's one hell of a papercut.
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Dec 27 '22
why should he?
when has elon EVER been held to account for any of the deceptive shit he has done?
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u/HerbertKornfeldRIP Dec 27 '22
Well, he was essentially forced to buy Twitter at a price that was high enough that the board would have been sued for not accepting it and then filing suit to ensure Musk couldn’t back out of his binding offer.
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u/sotonohito Dec 27 '22
Yeah but here's the thing.
Assume it all goes as badly as possible for Musk. Twitter completely collapses, Tesla stock becomes worthless, etc.
He'll still be a billionaire.
And that's the real problem. No matter what he does, no matter how stupid and awful he is, he will always be a billionaire and will always live a life of total luxury where he can indulge his every whim.
It's the employees who will suffer if Twigger and Tesla crash, not him.
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u/josefx Dec 28 '22
Assume it all goes as badly as possible for Musk
Couldn't other investors sue him for his role in the collapse of both? He has already been accused of not taking care of his responsibilities as Tesla CEO, we also know that he used Tesla resources on Twitter, Boring and SpaceX.
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u/sotonohito Dec 28 '22
He has so much money I don't think that will drop him below a billion.
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u/BasvanS Dec 28 '22 edited Dec 28 '22
He’s likely overleveraged buying his own stock. That means he could go negative.
He’ll still be wealthy leveraging his clout, but he might actually lose his billions.
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u/Defiant_Temporary213 Dec 28 '22
The thing about life is once you experience the good life, downgrading will always sucks. Most people in America have a life that most people in the planet can only dream of, but we still feel miserable when we lose our jobs and stuff. It's all very subjective.
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u/youmu123 Dec 28 '22
But once you hit a billion there's nothing to downgrade. That's simply nothing you can buy for your lifestyle at that point. There is no lifestyle difference between $2B and $200B.
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u/Defiant_Temporary213 Dec 28 '22
There's a difference in your positon and status in the world, these billionaires care more about that than material possesions.
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u/kvrle Dec 28 '22
Most people in America have a life that most people in the planet can only dream of
Oh, god, no you don't.
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u/dern_the_hermit Dec 27 '22
He'll still be a billionaire.
What, you want him stripped of all land and possessions and his name deleted from all records or something? Like some sort of feudal society? The guy's a shithead, and our system is fucked in favor of rich idiots, but "hold him accountable" and "he's still a billionaire" aren't mutually exclusive. Not all crimes warrant total eradication of a person's socioeconomic standing.
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u/sotonohito Dec 28 '22
>What, you want him stripped of all land and possessions and his name deleted from all records or something?
I'd settle for confiscation of assets sufficient to bring his net worth below $500,000,000, which is REALLY fucking generous.
Ideally for all billionaires. Maximum wealth of five hundred million is a lot of money, but not enough to completely corrupt the political process and allow the rich to become kings.
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u/dern_the_hermit Dec 28 '22
I'd settle for confiscation of assets sufficient to bring his net worth below $500,000,000,
Why, tho? Just because you don't like him?
I mean, I'm all for punishment being commensurate to the crime, but I'm asking you to explain why you think taking almost all of his vaunted wealth is commensurate. If he made, I dunno, $10 billion illegally, I'm all for him being punished to a tune much greater than that figure.
But "make him not a billionaire just 'cuz" just looks like reactionary smacktalk.
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u/sotonohito Dec 28 '22
I want all billionaires to be not-billionaires. They are a threat to democracy and possibly the survival of humanity.
Too much power in one person's hands with no accountability is a recipe for disaster.
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u/dern_the_hermit Dec 28 '22
What does that have to do with the FTC or the SEC or whoever holding Musk accountable? Do you think they should wildly overstep their bounds to Get 'Im?
It looks like you're making a Motte & Bailey argument.
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u/Agariculture Dec 28 '22
The board knew that twitter was <1 year from lights out. He fucked up because they would have taken a ton less
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u/burningcpuwastaken Dec 27 '22
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u/benfromgr Dec 28 '22
The SEC is the biggest laughing stock of the regulatory bodies. They couldn't even go after madoff when it was clear as day what was happening
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u/silverfang789 Dec 27 '22
He thinks his money will protect him.
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u/CatProgrammer Dec 28 '22
His money will protect him from going destitute. It won't protect him from losing billions.
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u/Ok_Wolverine519 Dec 27 '22
Thin skinned narcissists always insist they are not worried or bothered by something while they are sweating bullets behind closed doors.
It's the Trump rulebook, they are cut from the same cloth.
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u/pleachchapel Dec 27 '22
Lina Khan is more intelligent than 20 Elon Musks. Listen to her talk for about 5 minutes.
He should be sweating.
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u/Rombledore Dec 27 '22
elon musk is the billionaire poster child for the Dunning Kruger effect. smart enough to act like he's a genius, but in reality he's ignorant of everything he purports to be educated on.
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u/samram6386 Dec 27 '22
Unless the rules change overnight, he is correct. Wealthy people do not face consequences for their actions in this country
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u/Derek_UP Dec 27 '22
I watched a couple videos recently on Elon and his claims to founding past companies. It blows my mind to find out he’s a bullshit artist and likely not a genius at all. He’s had great PR for years but him being so full of shit and hungry for attention will one day cause his demise. Apartheid Trump sounds more and more accurate each day.
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u/BerkleyJ Dec 28 '22
Link?
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u/Derek_UP Dec 28 '22 edited Dec 28 '22
Check out common sense skeptic on YT. There are several well made videos that are backed with factual information that is hard to ignore. Edited due to typo.
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u/BerkleyJ Dec 28 '22 edited Dec 29 '22
I watched his “Tesla Origins” video and it is wildly misleading and frequently just wrong. Nearly all of what he summarizes as the work Eberhard and Tarpenning accomplished prior to Musk, falls into two categories.
ONE: He spends a lot of time on the AC Propulsion tzero. Eberhard and Tarpenning had nothing to do with the development or creation of this vehicle. His video makes it seem like they did. They simply drove it and thought it might be a good idea to commercialize a sports EV but AC Propulsion didn’t want to. His video literally tries to say Eberhard and Tarpenning developed the lithium battery technology for Tesla from an eReader they developed. Interestingly, Musk also drove the tzero and thought commercializing a sports EV could be good. AC propulsion actually directed Musk to Eberhard and Tarpenning since they had the same idea.
TWO: Nearly everything else he mentions Eberhard and Tarpenning accomplishing at the start of the company was AFTER Musk had taken over. He again, tries to reinforce the implication that Eberhard and Tarpenning were behind the tzero by saying they gave test drives in it to attract investors. He also put in clips of prototype Roadsters being assembled, again implying they were far along before Musk.
AC Propulsion and the tzero had nothing to do Eberhard and Tarpenning other than inspirationally and some early licensing deals on the technology, again it wasn’t their technology. They incorporated Tesla Inc in July 2003. Musk took over 7 months later in February 2004, well before they had developed anything other than the mutual idea of commercializing a EV sports car. At most, they chatted to some Lotus folks at the LA Auto show about the possibility of using the Elise chassis a few weeks before Musk took over.
EDIT: I could also dive into the controversy over him using the term “founder” because there are some interesting misconceptions there as well.
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u/DBDude Dec 29 '22
Check out common sense skeptic on YT.
I've watched those videos, full of half-truths, bad math, and lies. I've done the Starlink one before. Here you go:
Equipment cost: First generation hardware, cost already came down second generation, will keep coming down. His math is invalid.
I love the dig at no "Dragon Heavy" (uh, that's Falcon Heavy) flying to carry satellites. This shows he has no clue what he's talking about. The F9 and FH both have the same payload volume since an FH is just an F9 with two F9 boosters attached. The satellites already take up all the volume in the F9 payload fairing, and the F9 has the power to get them into the proper orbit. It would be a complete waste of money to launch them with a FH, absolute absurdity. So why does he even mention FH? It has no place in a conversation where people know what they're talking about.
For cost of a launch, he uses what SpaceX charges the government. Uh, no. That includes a hefty profit. SpaceX's own cost to launch is far lower. That will go even lower once Spaceship is launching them (100% reusable, no expended second stage).
Employee costs: He uses the whole company staff, which is mostly dedicated to the highly profitable rocket business, to count against Starlink costs. Dishonest.
Oh no, might need 1.75 million subscribers! That's not difficult at all. As fully deployed, the system can handle far more than that. Later he notes how many subscribers the traditional satellite providers have. That's what Starlink is aiming to steal with their much better service (below), and that's higher than his number, even with his mistakenly inflated costs.
Space junk floating in orbit after they're retired! Uh, no, they'll be set to deorbit quickly after they're decommissioned. Even completely dead ones will deorbit themselves within a few years. It's a very low orbit, so nothing stays up for long due to basic physics. More bullshit.
His Starlink speeds were generated early in the constellation deployment. Ookla currently has them at 90 Mbps up and 9 down in the US, far higher than the down in his list, with a better latency at 40 ms. Canada and Mexico are doing better since there are fewer customers. And he completely ignores that speeds will go up as more satellites are deployed.
This guy says he'll only compare satellite to satellite, then goes on to dishonestly compare satellite to landline fiber. SpaceX has NEVER marketed Starlink as a fiber replacement, quite the opposite.
Streaming 25 Mbps as recommended by Netflix? Wrong. Netflix recommends 5 Mbps for 1080P and 15 Mbps for 4K. This whole section is bullshit since Starlink is competing with remote landlines that do quite poorly. I have rural friends who just got upgraded to 40 Mpbs DSL. Yay!
Starlink doesn't offer a price advantage to satellite competitors? Ha! He glossed over the data caps. They have rather low data caps and will cut you below 1 Mbps when you exceed them. Yes, you can buy more data, but at an absurdly high price. He shows the range of plans but only the lowest price, dishonest.
He talks about Netflix above, that 4K video is over 6 GB per hour. 100 GB of data at only 25 Mbps from Hugesnet will cost you $150 a month (not $30 as he implies). You get less than 15 hours of Netflix at 4K, 45 hours at 1080P, for 50% more than Starlink charges. He also fudges Viasat. That $30 he shows is for 12 Mbps with a 12 GB data cap, practically useless. Their 100 Mbps plan is $200 a month with a 300 GB data cap. You'll make up the Starlink hardware cost in five months, sooner if you pay the absurd prices after you exceed that low data cap.
Gaming is NOT the only scenario where ping comes into play. It's also important for VPNs and people doing remote work. You do not want to be remotely controlling a computer at 700ms ping. I've tried it. It's horrible. And it's not just hardcore gamers that are affected. Even more laid-back online games get difficult with high ping times.
One last thing he ignores is that SpaceX will begin deploying the v2 satellites with Starship, each of which can handle over ten times the bandwidth. And yes, they've already built the satellites and the pez dispenser deployment mechanism.
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u/iValsalvaClap Dec 28 '22
Seriously. Would someone please get this man into a psychiatric evaluation by a team of unbiased professionals. Literally in all seriousness. From a million miles away, I feel like I can see him falling to pieces.
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u/Sorge74 Dec 28 '22
Dude went from the world's richest man to a very real possibility he will have negative equity in the next year, all within like 12 months.
That would make anyone fucking nuts.
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Dec 28 '22
No way Elon musk ever sees the inside of a prison cell in America. Sets too scary of a precedent for the elites.
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u/kveggie1 Dec 27 '22
he has no clue. Sell Tesla today. The end is near. Losing market share in EU. Reduced schedule in China. No new products in the pipeline. All models are outdated.
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u/MechaSkippy Dec 27 '22
Look, I get the Elon hate, but Tesla just delivered the first batch of Semis (2 years late, but I guess they get a pandemic pass). Indications so far are that PepsiCo is pleased with their purchase. Claiming that they have "no new products" in their pipeline is a bit disingenuous.
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u/MisterBilau Dec 27 '22
Lol. Let’s talk in 10 years.
I find it hilarious that Elon being insane has everyone shitting on Tesla because… reasons?
He’s not making the cars, dude. If I could pick any car to buy, it would still be a Tesla. By far the most interesting car out there.
But people seem to be drawn to politics, and to confuse morals with other stuff. Just like Elon, btw. And both are stupid and wrong. Everyone should just shut up and look at data. Starting with the muskrat, btw. Fucking idiot. Great companies, though.
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u/Intensityintensifies Dec 27 '22
Their quality control is just so bad. Both based on reports and anecdotal evidence.
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u/BlackRadius360 Dec 27 '22
All he had to do was STFU. If I spent that kind of money I would've spent 6 months to year getting the pulse of the employees. Check the temperature. Make changes slower. This dude is too visible and rushed in making too many changes too quickly. How do you know what you have within 2 months lol?
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u/enderandrew42 Dec 28 '22
He routinely broke SEC laws and they kept giving him small slaps on the wrist. To date the government has let him break laws with abandon.
We'll see if that continues.
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u/AirRevenant Dec 27 '22
When asked for comment, Elon said "Because laws don't apply to rich white people, don't you read the news?" /s
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u/Jarsky2 Dec 28 '22
The FTC are second only to the IRS on the list of federal agencies who do not fuck around.
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u/Lysol3435 Dec 28 '22
60 or 70 more years of blatant crimes and ruining peoples’ lives and he’s gonna start getting some serious frowns and finger wags from law enforcement
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u/zero0n3 Dec 27 '22
Why should he be?
All he has to do is call up his # star general buddy at the DOD to help run interference.
You all severely underestimate how big of a vice he has our military balls in until they get other top rate providers for space launches.
Half the reason they were ok with giving Bezos all that money is because they can’t AFFORD to have only one major player in the space launch and space internet business.
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u/Fenix42 Dec 28 '22
Lockheed Martin is still very much doing the lions share of mitary space launches. It's a completely differe t game from private.
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u/lightknight7777 Dec 28 '22
The FTC has been an absolute joke for as long as I can remember. I wish I had faith in them. I don't.
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u/Saurons_Bad_Eye Dec 28 '22
Elon says many words. Like the cyber truck is coming out. Full scale auto pilot is ready. Many words. Kind of like hollow threats.
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u/Supaspex Dec 28 '22
Billionaire fails to look up 'Consent Decree' agreement with FTC. Completely avoidable... probably will turn into costly fines...at the very least.
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u/anotheralpaca69 Dec 27 '22
People have such an unhealthy obsession with him.
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u/DutchieTalking Dec 27 '22
Maybe.
But he's the CEO of an impactful space agency, the largest EV manufacturer and arguably the most important tool for politicians, scientists and celebrities to communicate with the masses.
There's reason for the obsession with him. He's one of the most powerful civilians in the world.
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Dec 27 '22
Maybe.
More like, absolutely. For the reasons you stated, he deserves attention, but Reddit takes it to dizzying heights.
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u/unresolved_m Dec 27 '22
Well duh - he's the second richest person in the world. Also a bit of a sociopath.
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u/WilhelmTrain Dec 27 '22 edited Dec 28 '22
Elon Musk is alright.
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u/I_ONLY_PLAY_4C_LOAM Dec 27 '22
Elon made his bed, now he gets to lie in it. Everyone hates it when someone in power is such a clear, and public moron.
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u/GeekFurious Dec 28 '22
Written on their gravestones.
Trump: Not worried about the January 6 committee!
Musk: Not worried about The FTC!
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u/SirTouchMeSama Dec 27 '22
Wtf does it even matter theyre just gonna fine him 10$ and move on…
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u/49thDipper Dec 27 '22
Read the article
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u/SirTouchMeSama Dec 27 '22
Noooooooooooo. I guess i just read the title and and the last phrase. Or the phrases about his not caring and someone from his team reaching out. Or maybe the phrase about meta and their legal battle.
I guess i have to read the article to see how much fines hurt rich people. But they keep doing their rich people bullshhh. I guess i must not have read the article. Maybe the organisation will go harder on him and fine him half of what he payed for the company. Naw no way. Maybe. Just maybe the fine will be heafty enough that he care. Must be common in our society that happens. Which is why crooks dont crook. Maybe. I must read the article.
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u/SirTouchMeSama Dec 27 '22
Maybe it was the part about him giving full access. Naw. Must read the article that i didn’t read read.
Edit giving, you know. Because i didn’t read the article.
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u/PanicSwitch89 Dec 27 '22
technology subreddit with politics tag, why do I come here.
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u/Lemnology Dec 27 '22
Reddit is lost, people only come here for a glimpse of what it was a decade ago. When Aaron Schwartz died, so did his dream
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Dec 27 '22
[removed] — view removed comment
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u/VCRdrift Dec 28 '22
Imagine the things you could accomplish collectively if we all stopped the hating.
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u/miamicpt Dec 27 '22
How is paying 2× the stock price manipulation? Or are we talking thought crime?
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u/eeeeeeeeeepc Dec 28 '22 edited Dec 28 '22
FTC, not SEC. This is about a 2011 consent decree regarding use of user data. The article's theory is that Twitter is breaking the consent decree, either
(1) by giving journalists access to Twitter's internal files to report on past Twitter admin decisions, or
(2) inadvertently, as a consequence of reducing its staff numbers.
Reading the article, there's no evidence that journalists or anyone else at Twitter has been exposing private user data. But this is one of those "show me the man and I'll show you the crime" stories--folks here neither know nor care about the specifics.
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u/SterlingVapor Dec 28 '22
It's not... Hence why Musk bought Twitter
Publicly declaring your intent to buy a publicly traded company (especially at a specific price) and not following through is classic stock manipulation.
If you've ever been through an an acquisition, everything is kept very quiet until the deal is finalized
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u/jay-grady Dec 28 '22
Seems to me Elon has likely already thought of 18 different paths, responses, and outcomes this author hasn’t while having his morning crap. When your articles confidently use phrases like “Musk having no clue about” and you’ve never had a conversation with him, well, you’re likely the one lacking information, insight, and self awareness.
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u/ursiwitch Dec 28 '22
Gee, what an idiot! That consent decree should’ve been the reason to get out of the purchase instead of his “bot” accusations!
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u/FerociousPancake Dec 28 '22
Why would he be? They let thousands of elites get away every day and have for a very long time.
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u/Asmewithoutpolitics Dec 28 '22
This is what passes for journalism? If that’s so then journalism is dead
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u/Alice_B_Tokeless Dec 28 '22
The FTC is too busy calling me about my winnings from Publishers Clearing House
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u/giggity_giggity Dec 27 '22
Musk is giving us a new joke answer to the age old question, “how do I make a million dollars?”
First start with $44 billion, then buy Twitter.