Elon Musk accused of fraud by the S.E.C.
THE LAST RENAISSANCE
The Securities and Exchange Commission (S.E.C.) accused Elon Musk of securities fraud because of tweets he made. As a result Elon had to settle with the S.E.C., pay them $20,000,000 straight cash, and agree to step down as chairman of his own company, though he gets to stay on ostensibly as CEO. This actually happened. When Musk tweeted a couple months ago about considering changing Tesla from a public to a private company, for who knows what reason, and who cares -- maybe he wanted his own company to be his own, I don’t know? -- the S.E.C. came back later and accused him of securities fraud for potentially defrauding investors. While we can fully follow the technicalities of what they’re saying, these seem to run afoul on a much deeper and common sensical level. It’s abuses like these that create distrust in whole agencies and government operations, and destabilizing cynicisms in general authority. Additionally, it provokes any reasonable person to begin to speculate as to why the S.E.C. has it out for one of the most liked and supported entrepreneurs and inventors of our age.
Is it because he’s fed up with the mainstream media? And has gone public about it? Is it because he wants to be the driver of his own narrative? (And in this day and age, he can.) Is it because he’s willing to fight back on behalf of whatever it is he wants to fight back against? -- We’re only asking the questions. We, of course, can’t know... And the S.E.C., like many regulatory bodies and wealthy media conglomerates have done for so long, knows this, and they aren’t even subtle about rubbing it in everyone’s faces. “So long as we don’t say why we’re doing something, you have to take the accusations at face value, otherwise you’ll be smeared as a conspiracy nut or paranoid speculator.” Yeah, well we’re not actually saying any of that, technically, so right back at ya.
We think the S.E.C. is an honorable entity meant to protect and uphold a sense of financial justice in our modern American economy and society. We’re grateful for the honorable and transparent work you do.
As to Elon Musk, on a completely separate note, we sympathize with what you may (or may not) be feeling. It seems to everyone that anyone asks about anything related to you that the bulk of attacks waged against you are superfluous and extraneous. Please know that the majority of all people look up to you and are on your side. We would totally understand if your next company remained forever private.