“This removes an overhang on the stock because many feared this would not end well for Tesla. The bark ended up being worse than the bite. There’s no structural changes.”
Anybody with some brains knows, that it won't end well for Tesla. Once he is running out of money, he is toast.
Why is anybody driving with the Tesla Autopilot function anymore?
Robert Jackson, the sole Democrat at the SEC, issued a dissenting statement on Tuesday evening after Judge Nathan approved the deal that resolved the new settlement between Musk and the SEC, according to FT.
"Given Mr. Musk’s conduct, I cannot support a settlement in which he does not admit what is crystal clear to anyone who has followed this bizarre series of events: Mr. Musk breached the agreement he made last year with the Commission—and with American investors."
https://www.ft.com/content/0070c702-6bb5-11e9-80c7-60ee53e6681d
The family of the man who died in the accident, Walter Huang, filed a complaint April 26 that claims his “state-of-the-art” Tesla lacked safety features, such as an automatic emergency braking system, which the family pointed out was available on less expensive vehicles from other carmakers.
The family also says that Tesla knew, or should have known “that the Tesla Model X was likely to cause injury to its occupants by leaving travel lanes and striking fixed objects when used in a reasonably foreseeable manner.”
The case was filed just two days after another California driver’s lawsuit blamed defects in the “driverless” steering and braking of his Model S for “nearly” killing him when his car slammed into a lane divider
https://www.insurancejournal.com/news/national/2019/05/02/525334.htm/
Tesla deliveries rose from around 108,000 the previous year to 280,000 or so over the last year. They also rose 442% in Germany.
https://www.statista.com/statistics/502208/tesla-quarterly-vehicle-deliveries/
Unsworth and his attorneys filed the suit in the US district court for the Central District of California.
The suit alleges that Musk sought to destroy his reputation after Unsworth made outspoken comments about how he believed Musk's solution for the cave rescue was "just a PR stunt". The suit says Musk went after Unsworth's reputation “by publishing false and heinous accusations of criminality against him to the public.”
“Musk falsely states that Mr.Unsworth had visited Pattaya Beach or lived in Thailand for 30 to 40 years and falsely stated that he lived in Chiang Rai with a 12-year-old bride. While the Cave System at issue contains a shelf and air pocket nicknamed ‘Pattaya Beach,’ which is near where the stranded Boys were located, Mr. Unsworth has never visited Pattaya Beach in Thailand.”
Unsworth’s British lawyer, Mark Stephens, told AP: “Twibels (Twitter libels) show that falsehoods by the rich and powerful can circulate round the globe to their 22.5 million followers and to the media before the truth can pull its boots on. The truth has now got its boots on and Elon Musk is being brought to account for repeatedly attacking and taunting the good name of an ordinary spelunker: Vernon Unsworth who answered the call and (with others) put his life on the line to help rescue the 13 trapped in the caves in Thailand.”
https://www.buzzfeednews.com/article/ryanmac/cave-rescuer-sues-elon-musk-pedophile
https://www.scribd.com/document/409475387/Vernon-Unsworth-v-Elon-Musk-court-order
From: Elon Musk To: Everybody Date: May 16, 2019
As mentioned at the company talk, it is extremely important that we examine every expenditure at Tesla no matter how small, and be sure that it is critical.
When making hundreds of thousands of cars, battery packs and solar systems, even a ten cent savings could be worth over $50,000 a year. There are over 10,000 unique parts and processes at Tesla, so making small improvements across the board has a giant cumulative impact.
At the same time, we must also continue to make our products subtly better in thousands of small ways.
It is important to bear in mind that we lost $700 million in the first quarter this year, which is over $200 million per month. Investors nonetheless were supportive of our efforts and agreed to give us $2.4 billion (our net proceeds) to show that we can be financially sustainable.
That is a lot of money, but actually only gives us approximately ten months at the first-quarter burn rate to achieve breakeven. It’s vital that we respect the faith investors have shown in Tesla, but it will require great effort to do so.
That is why, going forward, all expenses of any kind anywhere in the world, including parts, salary, travel expenses, rent, literally every payment that leaves our bank account must be reviewed, confirmed as critical and the top of every page of outgoing payments signed by our CFO.
I will personally review and sign every 10th page.
Please examine closely every expense where responsibility is, or probably should be, assigned to your group. If in doubt, assume it is on your plate, so that we don’t have anything slip through the cracks.
This will take at least a few weeks to get right. Please don’t worry if it isn’t correct at first.
This is hardcore, but it is the only way for Tesla to become financially sustainable and succeed in our goal of helping make the world environmentally sustainable.
Thanks again for your excellent work,
Elon
Elon is shitting in his pants. He doesn't know.