Friday, July 03, 2020
Dangerous
Elon Musk plays a dangerous game. He goes out of his way to provoke the Securities and Exchange Commission He is incapable of holding his tongue in mocking the agency. It is sad, poor PR and a ticket to injunctions. Musk believes he is above the law, and as long as his companies are successful, he isn't going to take advice from the outside on what he says and does. Musk, like Trump, is twitter-addicted, and he regularly gets himself into hot water for what he writes. The hard part for the SEC is that Tesla and Space X are both doing well. Does the SEC take a chance of ruining two companies that employ thousands of workers and highly paid professionals? If there was no "there there," the agency would pounce as it has with Ponzi schemes. It has forced Musk already to give up the chairmanship of the auto company, pay a stiff fine and get his tweets pre-approved by a lawyer. It could more, so much more, including removing Musk altogether from the leadership of his companies. Does Musk realize that?
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