TESLA and Elon Musk - anything not elsewhere

[pipistrelle]

So, of you bought it for the Status and looks, I hope you like it looking like a banged up Taliban Jeep in a couple of years.

That’s it. It reminds me of a Mad Max prop.

[raison de arizona]

Screenshot 2024-01-19 at 8.11.02 PM.png (403.09 KiB) Viewed 1000 times

[RTH10260]

That must be the special Corten edition

[johnpcapitalist]

That must be the special Corten edition

I love sculpture made from Corten. It is the only kind of metal that seems to have warmth and character, like wood.

[Volkonski]

Tesla shares plunge to wipe out $73 billion in market value, after dour earnings call

https://www.cnn.com/2024/01/25/investin ... index.html

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.

[RTH10260]

I guess the tin-mobile did not impress.

[Suranis]

Who knew that specializing in badly made ponce cars would start flat-lining when everyone started making electrics and Musk started getting called out for being a snake oil salesman.

[RTH10260]

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/

[raison de arizona]

Musk caught lying, cheating, and stealing? Say it ain't so.

Elon 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://apnews.com/article/elon-musk-te ... 5bd9c4c805

[jcolvin2]

Musk caught lying, cheating, and stealing? Say it ain't so.

Elon 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://apnews.com/article/elon-musk-te ... 5bd9c4c805

Elon Musk ... SuperStar CEO!
Opinion:https://courts.delaware.gov/Opinions/Do ... ?id=359340

[raison de arizona]

Never incorporate your company in the state of Delaware

https://x.com/elonmusk/status/1752455348106166598?s=20

[raison de arizona]

Apparently Tesla is run by Twitter Poll now. (poll currently 87% vs 13% for moving to Texas)

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.

Should Tesla change its state of incorporation to Texas, home of its physical headquarters?

[raison de arizona]

Musk gives oxygen to a RWNJ conspiracy theory that puts Joe Biden behind the loss of Elmo's ill-gotten compensation package.
https://x.com/elonmusk/status/1752976312623312932?s=20

Interesting

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.

[raison de arizona]

Where's the GoFundMe for Malone? Imma pour one out just for him.
https://x.com/elonmusk/status/1753123726554517611?s=20

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.

[raison de arizona]

lol, naughty naughty

[Rolodex]

He'll be surprised to learn the number of businesses in Texas (and all over the US, really) that are incorporated in Delaware. He's a stupid businessman if he doesn't understand why.

[bob]

He's a stupid businessman if he doesn't understand why.

FIFY.

And, yes, there's a reason why most corporations are incorporated in Delaware.

[Rolodex]

He's a stupid businessman if he doesn't understand why.

FIFY.

And, yes, there's a reason why most corporations are incorporated in Delaware.

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.

[noblepa]

He's a stupid businessman if he doesn't understand why.

FIFY.

And, yes, there's a reason why most corporations are incorporated in Delaware.

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?

Is it taxes?

Lax rules regarding incorporation?

[Rolodex]

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/

As to SD and credit cards, that's because the state has no ceiling on credit interest rates. That's why your card can have 25% interest even if your state has a lower cap (even though it seems the title loan places somehow are exempted from that, at least in my state).

[MN-Skeptic]

Yeah, the company I used to work for originally incorporated in Minnesota 100+ years ago, but re-incorporated in Delaware probably in the ‘80s. A lot of companies have done the same thing.

[bob]

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/

Too also: expertise and reliability.

Because Delaware is the legal home to so many major corporations, its legal system is adept (read: friendly!). Its legislature and courts have experience in drafting (and then adjudicating) all kinds of corporate matters.

This kind of predictability and functionality is valued by sane corporate owners.

And, subjectively, it is the gold standard, which might be important to new corporations trying to show they are serious entities.

Example: You are about to enter into a big contract with a big widget maker. If you see that it is a Delaware corporation, you can then research the vast body of law on how disputes under that contract might be litigated. Which might affect how you negotiate that contract, and possibly whether you even enter into it.

[northland10]

ExxonMobil is still registered in New Jersey. I didn't see that coming. The rest of the Texas big boys I checked are, of course, registered in Deleware.

[Volkonski]

Tesla recalling another 2.2 million vehicles for warning lights that are too small

https://www.cnn.com/2024/02/02/business ... index.html

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.

[johnpcapitalist]

Tesla recalling another 2.2 million vehicles for warning lights that are too small

https://www.cnn.com/2024/02/02/business ... index.html

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.

If he had fixed it in response to a preliminary request, he could have trumpeted his commitment to safety by saying, "Hey, our latest software update tweaked the font size of a warning notice to make it easier to read. Our commitment to safety is unmatched, in matters big and small." But instead, he gets the distinction of being perhaps the first automaker in history to have a recall issued for every single vehicle they have produced..

Alas, our member with deep expertise in transmission mechanics and the rest of the auto industry is unable to weigh in on this issue at the moment.