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Elon Musk, CEO of Tesla, yesterday reached an agreement with the US Securities and Exchange Commission that requires the turbulent executive to get pre-approved by lawyers before tweeting on certain topics. The SEC complained of Musk's contempt after tweeting about Tesla's production targets for 2019 in February.
Musk and Tesla each fined $ 20 million last year after the regulator accused him of making "fake and deceptive" tweets about him take the private company at $ 420 per share. Musk's February tweet, said the SEC, violated a condition of its settlement, which required Tesla's lawyers to approve any statement likely to influence the stock price of the company. The updated compromise, which now lays out forbidden behavior, still needs judge approval, but for an influential Twitter user, like Elon, he's sure it will hurt his style.
It will not be allowed to tweet (or otherwise share public information) about Tesla's financial performance, production schedule or projections without the supervision of an adult (ie a experienced securities lawyer). Communication regarding reporting of results, potential acquisitions, sales figures and even new business areas will require prior approval. The deal could even put an end to Musk's antics, like Tesla silent electric leaf blower recently announced. (Probably a joke.) Future pranks will likely carry the Boring Company or SpaceX mark to avoid any SEC control.
In light of the new restrictions, I've listed a list of things that Musk is always allowed to tweet freely. I hope this can mitigate the blow.
Approved topics
- Dig holes: For you and me, it may sound boring, but for Musk, it's totally boring. His tunnel digging company recently submitted a 505-page environmental assessment (pdf) on his proposal to link Washington, DC and Baltimore. Fortunately, the boring company is "STTA" (safe for tweets).
- "Rambour Harambe": Musk can freely discuss the song published a month ago by its fictional label, Emo G ("emoji") Records. This is a dead gorilla with no known connection to Tesla.
- Boring Company Flamethrower: Musk can certainly talk about setting things on fire without the approval of his lawyer. Fire a Tesla, however, would probably not fly.
- Grimes (now called "c"): Musk can safely tweet about his girlfriend (paywall), but he may want to be careful not to talk to him. Tweet of July about organizing efforts at Tesla. Although this is not explicitly mentioned in the SEC's list, talking about Tesla's workforce could put Musk in hot water.
- Sheep: Musk has recently shown its fascination with sheep, much to the delight of its Twitter followers. As long as he is not tied to Tesla, there is nothing to do.
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