Will this be what gets Elon kicked out of Tesla by institutional investors? What will it take?
this post was submitted on 31 May 2024
574 points (98.6% liked)
News
22583 readers
4216 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
If this doesn't do it, maybe he could just take a bunch of investor money and set it on fire in front of them at a shareholder meeting.
It's not about the money, it's about sending a message.
And that message is, don't be an emerald-mine-nepo-baby tech-bro billionaire on ketamine.
If he's really dosing ketamine, it feels odd that he can't seem to develop any sense of oneness with the universe, awareness of the innate value of other people, empathy for them, and self-humility. I guess it affects people differently, but what's it actually doing for him?
He wants to give himself 10's of billions of dollars of their money already. You literally couldn't fit enough money in the room at the shareholder meeting for such an act to bother them.
Fuck everything about Elon but that would be amazing on a few levels
Except it wouldn't surprise me at all.
The only things he could do at this point to surprise me is say something that isn’t stupid as fuck
He could give up his fortune and go sit under a bodhi tree and meditate until he found enlightenment. That would definitely surprise me.
Him building a submarine to visit the Titanic wouldn’t surprise me, but given his level of competence it would surely delight me
It would surprise me only in that, even though most people seem not to have noticed, Mr. Mars Colony has never volunteered to go up in a SpaceX rocket.
He's a coward.
He hasn't even been to space. Period. Which surprised me after looking it up reading this comment because I thought he had at least gone to space with someone else's rockets on just one of those PR stunt trips that barely even can be called "going to space." Ya know, like Bezos did.
That’s what makes the AI memes that one of his lackeys posts every day on twitter all the more hilarious. Weird uncanny valley images of him standing triumphant on Mars like a new Roman emperor, in a city he built with his own hands, toiling with his own blood and sweat, with claims that this will all become reality in a mere couple of decades, within our lifetimes. His response to these wild delusions? A laconic, lackadaisical “Yeah”
Lmao. Hmbol, even.
A very wise point, his ego and cowardice must just be in a constant battle for what he does next. Both are boundless
Elon musk surprised shareholders with this HOT investment trick.
I can’t see how he’s anything but a liability.
I believe the board is mostly installed by Musk so it would likely take quite a bit.
Elon has reached a level of financial and material entanglement across such a broad cross section of key economic sectors that I'm having a hard time seeing any institutional mechanism or structures being able, or willing, to take him down.
Unless the powers that be were somehow able to ensure his assortment of ponzi schemes and pump and dump operations wouldn't collapse and start a chain reaction that would, in economic terms, fuck our shit up, far and wide.
But even if they could, I doubt those capable would want a precedent that the existing system was able to takedown such a powerful and wealthy person.
The only way I see him checking out anytime soon is himself. Unless he knows the secret ritual rights for a proper Moloch summoning, no amount of adrenochrome boosters or infant blood infusions can compensate for his insane drug use and poor personal health habits. You can't be that old, that out of shape, and take that many hard drugs without it significantly reducing your life expectancy.
That also provides an out for the scenario I mentioned above. If the impact of his downfall on the wider economy could be mitigated, his incredibly unhealthy habits provide an obvious vector for his removal, without it setting a public precedent.
Tl;Dr: Hope he doesn't get sober, or learn to summon Moloch.
When the Tesla stock price finally corrects we will see Elon crumble. Right now it’s being shorted by too many massive hedge funds, which causes other hedge funds to bet against them.
This unfortunately lead to the price being massively inflated with Elon taking all the credit.
You're operating under the assumption that market forces can dislodge someone as wealthy and systemically entrenched as Elon.
Personally, I don't share that belief. I hope that I'm wrong.
He is not entrenched as people believe. He isn’t old money, here. He isn’t oil money. He is temporary inflated stock rich and that bubble will pop.
He's not entrenched, lol. He's a first generation nouveau riche. Basically a peasant with some bells and whistles.
His dad had shares in an emerald mine according to himself in an interview with Forbes in 2014. He also went to expensive ivy league colleges.
He isn't nouveau rich, even though he wants to convince the internet that he is.
Ok, second generation nouveau rich. Old money are people who were aristocrats 1,000+ years ago. Elon had to work and still works like every other worker. Old money don't know what work is for centuries. The gap between the poor and Musk is about the same as between Musk and some old duke family from England.
I think he is too rich to ever crumble, unfortunately.
When Tesla stock crumbles, he won’t be rich. He will still be worth many millions, but that falls within the people worth prosecuting.
Worst of all, he would have committed the gravest sin possible in America: messing with truly rich people’s money.
When that day happens, the round is on me.
We'll just have to hope he didn't learn anything from Steve Job's example and follows him to an early and well deserved grave.
He's actually not that old. He just looks like shit.
He's not that old for a normal person.
But he's way too old to avoid the significant health impacts of constant hard drug abuse.
It's a catch-22: if he wasn't that rich, he both couldn't afford, or survive, the same levels of drug abuse for a man of his age, and with a body that looks like spring thawed goose shit warmed over.
Dudes among the richest people on the planer and you think he's going to kick the bucket any time soon?
Dick Cheney is still lurking around at 83 with a fake heart and you think muskrat is going to leave the earth in a reasonable time frame? He'll be 80% machine and trying to upload his consciousness by the time he's dead.
It took down Martha Stewart..
I would be so happy if I heard about Elon musk as much as I hear about Martha Stewart
So long as he doesn’t get to hang out with Snoop after
It would be a good thing.
He's being called in front of the SEC for possible stock manipulation on X. Hopefully this gets added onto his legal woes.
Can we revoke his government contracts now?
Wonder when/if investors will finally just sell their shares off. The day before the $56 billion vote takes place, for big laffs?
I highly doubt this particular lawsuit will go anywhere but dismissal.
Well, the suit that overturned his bonus was a single shareholder suit and that one was obviously successful.
I have been surprised there haven’t been more shareholder suits to be honest. They could challenge fiduciary responsibility on the basis of him robbing Peter to pay Paul by raiding Tesla for engineers, not to mention dividing his own time and effort between too many unrelated interests.
This is just too torturous to prove without a miracle in discovery. A summary judgement would throw it out. And I just don't see a judge allowing discovery without a very compelling reason. I don't see any.
The share price dropped in response to him selling, not because he knew it would drop before he sold due to some inside track in the company.
I agree there's a good amount of shit this bozo could be nailed on by his shareholders, I just don't think this is remotely it.
Depends on how much old money is behind it. Elon is rich, but he isn’t shit compared to old money.
Only worse people to piss off are the Saudis. I cannot wait for him to fold to those guys. Will be Elon’s end, and he will be serving McDonalds somewhere.
It looks like a nuisance lawsuit by a single investor as an excuse to go fishing with discovery. That dog won't hunt.