Comment by hodder | Hacker News Reader

Comment by hodder | Hacker News Reader

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Like a rat fleeing a sinking ship. He has been systematically liquidating his holdings and this move was well telegraphed.

Here is a question... why would a CTO liquidate the stock and quit a company supposedly on the verge of an economy transforming self driving breakthrough?

Because it is a fraudulent claim that full self driving is here or anywhere near for Tesla.

Elon Musk has encouraged a lot of engineers and has accomplished great things with these teams, but he has no concept of what is acceptable behaviour for a CEO of a publicly listed company. He regularly commits securities fraud. Faking it til you make it may be a good motto in life, but when it is people’s investments on the line, it is fraud. When it is safety on the line it is fraud.

As a trader, frankly it disgusts me that the SEC is so lenient with him. This basically opens up the world to terrifying securities frauds simply bc he is rich and famous.

I can assure you if I did anything even close to what he does on a seemingly daily basis when it comes to misrepresentation and fraud, I would be put in prison for years. He gets a pass bc he is Elon Musk and that is disgusting.

Elon Musk should be relegated to the non technical cheerleading role he is good at while an adult runs the company and refrains from repetitive securities fraud.

Straubel is leaving because he wants no part of what is likely coming. A liquidity crunch and further fraudulent activity. Fraud secured.

Then sue for securities fraud? You have a private right of action if you’ve been injured.

The sooner the music stops on this monumental fraud the better.

While initially starting the race and pushing the development of electric cars forward I’ve got a feeling Tesla’s implosion will end up denting people’s confidence in them.

"monumental fraud" i take issue with that statement , they have best in class motors and battery mgmt unit coupled with awesome infotainment . the bad things are some choices on service model and huge bet on auto-taxi network .Still i dont think i want to drive anything other than a tesla.

Moreso the fraud is continually committing actual securities fraud: lying about production numbers between quarterlies when Elon knows he won’t make the nums he is promising, lying about roll out dates of cars, lying about roll out dates of factories, lying about Tesla’s cash position and capital raise needs to the market immediately before raising capital, lying about take private deals at 420, lying about short sellers, lying about ex employees who speak out against production quality, lying about the safety of beta features, lying about the solar city takeover, lying about solar city roofs, lying about service times, lying about service costs, lying about resale values, etc. Fake it til you make it is unacceptable behaviour in securities markets.

Those are all actual securities fraud that if someone without Musks name committed, we would go to prison, yet Musk gets away with it almost daily.

But yeah the cars are kind of cool. Or at least the Model S was when manufacturing quality wasn’t rushed in a mad dash to meet fraudulent promises to Wall Street.

woow thats so much miss information assumptions and truth roled into a meatball paragraph. the only truth is maybe with regards to solar city accusation which again makes some business sense if you think of creating a competitive alternate to coal power . But i digress . lets take everything you said were true then people should sue him, lets the courts decide. also lets just assume for a second that there isnt literal billions to be made by shorting the stock and we live in a fantasy world where wall street ass clown behave honorably and wouldnt meddle with a companies operation just to make a quick buck. now the question of which fantasy land you come from "unacceptable behaviour in securities markets" the same markets which scalp daytraders with HFT , the same market which brought the world close to the brink of collapse in 2008, the same market which controls the health care and water supply of millions and views it as commodity and not a basic human right. I want to be real here for a second ELons whole goal was to accelarate the advent of EV transport which he did by 2 decades or so . He didnt expect tesla to go on for so long nobody did he just kept working one problem at a time to create gr8 products . And still to date there isnt competition for tesla in the price bracket which the fall. be it safety, performance, upkeep cost(cost of gas) and fun value (entertainment and technology) .

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