TESLA and Elon Musk - anything not elsewhere
Posted: Fri Jan 19, 2024 10:01 pm
Falsehoods Unchallenged Only Fester and Grow
https://thefogbow.com/forum/
Shares in Tesla plunged as much as 11% after the market opened Thursday, wiping $73 billion off the company’s market value hours after it warned of slowing growth in electric car sales and an existential threat from Chinese rivals.
In an earnings presentation Wednesday, the world’s most valuable automaker said its sales growth this year “may be notably lower” than last as it continued developing the “next-generation” vehicle, likely a lower-priced model.
While it reported a sizeable 38% increase in deliveries last year compared with 2022, Tesla had previously targeted a 50% annual growth rate averaged over several years.
Tesla’s (TSLA) financial results for the last quarter also disappointed, with adjusted earnings per share down 40% from a year earlier, and revenue, which rose 3% to top $25 billion, coming in below market forecasts.
Elon Musk's Neuralink implants brain chip in first human
Reuters
January 30, 20243:45 AM GMT+1Updated 31 min ago
Jan 29 (Reuters) - The first human patient has received an implant from brain-chip startup Neuralink on Sunday and is recovering well, the company's billionaire founder Elon Musk said.
"Initial results show promising neuron spike detection," Musk said in a post on the social media platform X on Monday.
Spikes are activity by neurons, which the National Institute of Health describes as cells that use electrical and chemical signals to send information around the brain and to the body.
The U.S. Food and Drug Administration had given the company clearance last year to conduct its first trial to test its implant on humans, a critical milestone in the startup's ambitions to help patients overcome paralysis and a host of neurological conditions.
In September, Neuralink said it received approval for recruitment for the human trial.
The study uses a robot to surgically place a brain-computer interface (BCI) implant in a region of the brain that controls the intention to move, Neuralink said previously, adding that its initial goal is to enable people to control a computer cursor or keyboard using their thoughts alone.
The implants' "ultra-fine" threads help transmit signals in participants' brains, Neuralink has said.
The first product from Neuralink would be called Telepathy, Musk said in a separate post on X.
The startup's PRIME Study is a trial for its wireless brain-computer interface to evaluate the safety of the implant and surgical robot.
Neuralink did not immediately respond to a Reuters request for further details.
The company has faced calls for scrutiny regarding its safety protocols. Reuters reported earlier this month that the company was fined for violating U.S. Department of Transportation (DOT) rules regarding the movement of hazardous materials.
https://www.reuters.com/technology/neur ... 024-01-29/
https://apnews.com/article/elon-musk-te ... 5bd9c4c805Elon Musk cannot keep Tesla pay package worth more than $55 billion, judge rules
Elon Musk is not entitled to landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday.
The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company. They were accused of breaching their duties to the maker of electric vehicles and solar panels, resulting in a waste of corporate assets and unjust enrichment for Musk.
The shareholder’s lawyers argued that the compensation package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him. They also said it was approved by shareholders who were given misleading and incomplete disclosures in a proxy statement.
Elon Musk ... SuperStar CEO!raison de arizona wrote: ↑Tue Jan 30, 2024 7:10 pm Musk caught lying, cheating, and stealing? Say it ain't so.https://apnews.com/article/elon-musk-te ... 5bd9c4c805Elon Musk cannot keep Tesla pay package worth more than $55 billion, judge rules
Elon Musk is not entitled to landmark compensation package awarded by Tesla’s board of directors that is potentially worth more than $55 billion, a Delaware judge ruled Tuesday.
The ruling by Chancellor Kathaleen St. Jude McCormick comes more than five years after a shareholder lawsuit targeted Tesla CEO Musk and directors of the company. They were accused of breaching their duties to the maker of electric vehicles and solar panels, resulting in a waste of corporate assets and unjust enrichment for Musk.
The shareholder’s lawyers argued that the compensation package should be voided because it was dictated by Musk and was the product of sham negotiations with directors who were not independent of him. They also said it was approved by shareholders who were given misleading and incomplete disclosures in a proxy statement.
https://x.com/elonmusk/status/1752455348106166598?s=20Elon Musk @elonmusk wrote: Never incorporate your company in the state of Delaware
Elon Musk @elonmusk wrote: The public vote is unequivocally in favor of Texas!
Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas.Elon Musk @elonmusk wrote: Should Tesla change its state of incorporation to Texas, home of its physical headquarters?
Elon Musk @elonmusk wrote: InterestingKanekoaTheGreat @KanekoaTheGreat wrote: Judge Kathaleen McCormick rescinded Elon Musk's $55 billion Tesla compensation package, overturning the company's board and 80% of its shareholders.
McCormick also ruled against @elonmusk during his Twitter acquisition.
Before becoming the head of the Delaware Chancery Court, McCormick worked at a Delaware law firm called Young Conaway.
This firm and its employees have been major donors to President Joe Biden for decades.
In 2016, Hunter Biden hosted a gubernatorial campaign event for Congressman John Carney, with then-Vice President Joe Biden as the guest speaker.
This event took place at the Law Offices of Young Conaway in Wilmington, Delaware.
Carney, a close friend of Joe Biden for the last four decades, later became governor and nominated Kathaleen McCormick, a partner at Young Conaway, to her position on the Delaware Chancery Court.
In a March 2018 email, Hunter Biden claimed to personally know every judge on the Delaware Chancery Court while threatening legal action against his Chinese business partners.
"I will bring the suit in the Chancery court in Delaware - which as you know is my home state and I am privileged to have worked with and know every judge on the chancery court."
After Elon Musk purchased Twitter with the stated goal of restoring free-speech, President Biden called for a federal investigation into Musk on the podium at the White House.
Following this, the Biden Department of Justice, Securities and Exchange Commission, and Federal Trade Commission initiated legal actions and investigations against Tesla, SpaceX, and X.
This recent decision by Judge McCormick, who worked with Biden's top donors and was nominated by Biden's close friend, to override Tesla's board and the majority of its shareholders is another clear example of the Biden administration and its allies weaponizing the American legal system against their political opponents.
Elon Musk @elonmusk wrote: Change your state of incorporation out of Delaware before they lock the doors.
They are currently blocking John Malone from changing incorporation from Delaware to Nevada.
In the early 80s I was a lowly bank drone, right out of college with a business degree. I knew even back then why companies incorporate in Delaware. And why so many credit cards are based in South Dakota.
Is it possible explain in one or two paragraphs why MD is so attractive for incorporation? Or is the subject something like "Explain the universe and give three examples"? I've known for years that many, many companies, many of whom don't even have any facilities or employees in the state, are incorporated there?
Too also: expertise and reliability.Rolodex wrote: ↑Thu Feb 01, 2024 9:14 pm Tax benefits, privacy. You'll be shocked at the number of companies registered in Delaware. Here's an easy to understand article.
https://www.forbes.com/advisor/business ... -delaware/
Tesla is recalling 2.2 million of its vehicles on US roads because the font size of the warning lights on its display is too small, according to federal safety regulators.
The recall was announced by the National Highway Traffic Safety Administration, which said it discovered the problem during a routine audit of Tesla vehicles.
“Warning lights with a smaller font size can make critical safety information on the instrument panel difficult to read, increasing the risk of a crash,” according to the agency’s notice.
Tesla said it is not aware of any crashes or injuries caused by the problem.
The problem will be fixed with an over-the-air software update that will not require Tesla owners to bring their vehicles into a Tesla service center.
The recall covers most but not all Teslas on US roads. The models that are covered include the newly released Cybertruck pickup, the Model X and Model Y SUV up to and including the current 2024 model year, and the Model S and Model 3 sedan up to and including the 2023 model year.
I speculate that they had to go to a recall because Elmo blew off their gentle requests to just fix it quietly and they felt they had to take the rather drastic and embarrassing step of issuing a recall. He's the smartest guy ever, and rules are for the little people.Volkonski wrote: ↑Fri Feb 02, 2024 2:48 pm Tesla recalling another 2.2 million vehicles for warning lights that are too small
https://www.cnn.com/2024/02/02/business ... index.html