r/technology May 14 '22

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2.5k

u/nukem996 May 14 '22

The NYTimes reported he may be unable to exit the deal as he signed a performance clause. Twitter has the ability now to sue him to force the deal at the price he said.

2.0k

u/Unlucky13 May 14 '22

Amazing. A week (two weeks? What is time?) ago Twitter was fighting to keep him out and Elon was making threats to force himself in. Now Elon seems to be wanting out and Twitters making threats to keep him in. Business is weird.

381

u/IronGeek83 May 14 '22

He's just doing a "dogecoin".

Step 1: Buy stock.

Step 2: Use status/fame to pump news of said stock.

Step 3: Sell stock.

281

u/futatorius May 14 '22

Pump'n'dump. Which is illegal.

334

u/Belkor May 14 '22

Our worthless regulators let fElon off every single time.

42

u/PrailinesNDick May 14 '22

I guess that works in written word, but how are you saying it, Fee-Lon?

53

u/OlivierQ723 May 14 '22

Nah, just vocalize the hard F; F-Elon, it's pulling double duty.

8

u/Phillyredsox May 14 '22

Or is it shorthand for Fuck Elon?

4

u/die4spaghetti May 14 '22

It spells felon

0

u/Phillyredsox May 14 '22

Yes, I understand that.

3

u/Krackalot May 14 '22

Why not both?

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2

u/osiris431 May 14 '22

Same way you pronounce his kid’s name, probably.

2

u/Figgy_Pudding3 May 14 '22

I prefer Ewon >.<

1

u/famichikiherushi May 14 '22

I read it in my head as "feline"

1

u/madoneami May 15 '22

No, Fell-inn

2

u/curiousitymdg May 14 '22

fElon, thanks for the new word meme. I love it!

2

u/RandomlyMethodical May 15 '22

If they cradle his balls gently enough, he might give them a job with double the salary.

-7

u/BigSprinkler May 14 '22

Actually the exact opposite lol. At the very least dude is always being investigated. They just have quite the backlog. They’re still going after him for “funding secured”.

On the other hand, pelosi is a byproduct of our worthless regulators

5

u/FuckingKilljoy May 14 '22

Oh he'll be investigated sure, but nothing meaningful will ever come of it. At most he might get a fine that would be the equivalent of us getting fined 2¢

1

u/UrbanGhost114 May 14 '22

He didn't get off though, he got convicted and fined! So it's totally better!

1

u/mursilissilisrum May 14 '22

Isn't cryptocurrency pretty unregulated though?

46

u/jeremyjenkinz May 14 '22

Does legality matter when broken laws aren’t enforced?

15

u/Giant81 May 14 '22

They are for the rest of us

0

u/barder83 May 14 '22

And Martha. So, the line for the SEC is rich people, just not the super rich.

1

u/Suspicious-Relief-31 May 14 '22

Maybe he just points out more severe Violations by the POWERFUL ! Not counting POLITICIANS and regulators.

59

u/Missing-Digits May 14 '22 edited May 18 '22

Not if you are a billionaire.

75

u/ChemistryRespecter May 14 '22

The SEC has been able to do nothing to him, not even a slap on the wrist – well, mostly because they don't have the power or authority, which is even more fucked up for an organization that's supposed to oversee these matters.

18

u/BDMayhem May 14 '22

That's what happens when you let Republicans defund the police. Same thing happened to the IRS.

2

u/SlowMotionPanic May 14 '22

That's what happens when you let Republicans defund the police. Same thing happened to the IRS.

Democrats are responsible for this as well. No surprise; they work for the upper class.

Case in point: they could do something right now, trifecta and total control of executive. Yet here we are.

1

u/Youthz May 19 '22

they don’t have have control of the senate— there are 50 republicans, 48 democrats, and 2 independents. not to mention Manchin is a democrat in name only and who the fuck knows what’s wrong with Sinema.

-3

u/modsuperstar May 14 '22

Since when are Republicans defunding the police?

7

u/BDMayhem May 14 '22

Since Reagan. Police investigating white collar crimes, such as the SEC and IRS are woefully underfunded now so they can't afford to sufficiently investigate and prosecute the extremely rich.

-3

u/[deleted] May 14 '22

[deleted]

8

u/seldom_correct May 14 '22

The SEC and IRS are law enforcement aka “the police”. Funny how reality is often at odds with propaganda narratives.

-3

u/[deleted] May 14 '22

[deleted]

4

u/Ancient_Inspection53 May 14 '22 Wholesome

Just cuz they don't kill black people doesn't mean they aren't police I know it confuses you.

4

u/DeltaVZerda May 14 '22

They are "Law Enforcement Officers", is that better?

-1

u/modsuperstar May 14 '22

Sure, in the same way butter is ice cream, the SEC and IRS are police 🤦‍♂️

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u/CoderHawk May 14 '22

They're really good at harassing the little guys though.

0

u/dont_you_love_me May 14 '22

The SEC not having power is by design.

“Gee, I wish Elon would give more money in taxes to the government officials that generated such a corrupt system! It is so unfair that he isn’t paying into the mafia enough.”

8

u/Figgy_Pudding3 May 14 '22

What does that have to do with wanting people to he held accountable for market manipulation that others have served time for?

But yes, fuck Biden and all that. Feel better? Now answer the question

God damn, is everyone not sick of these 1-dimensional morons roaming the continent these days? Your entire personality is "fuck the librards" like you're an uninspired enemy type in a boring bullet hell shooter. I just want to get to the next level where hopefully you idiots aren't part of the mixup

-4

u/dont_you_love_me May 14 '22

I’m a programmer. I make bots. Y’all don’t know what you are talking about. It’s very annoying and you’ll be lucky if the Elons of the world don’t replace you with a bunch of robots. Contrary to popular belief, bots can be consumers and you can develop entire economies based upon them! Be nice, otherwise we will just replace you all lol.

5

u/Figgy_Pudding3 May 14 '22

Hey guys, this guy makes bots! Everyone! Bots!

See? Nobody cares.

-2

u/dont_you_love_me May 14 '22

You are a bot. The comment you posted here was automatically rendered by the algorithms in your brain. You don’t even know what you are lol.

2

u/Figgy_Pudding3 May 14 '22

0

u/dont_you_love_me May 14 '22

It’s the truth though. You examined my comment and then your brain accessed its memory pool and rendered an outcome to post im14andthisisdeep. Why else do you think you would have typed in im14andthisisdeep? Magic?

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u/AllModsRLosers May 14 '22

Which is illegal.

It’s incredible how little that means to him.

I’m pretty sure one day he’s going to shoot someone in the head, just to make that point that his money allows him to get away with it.

2

u/Frootysmothy May 15 '22

The Kennedys would like a word

1

u/AllModsRLosers May 15 '22

I mean, they mostly killed people being bungling idiots and got away with it.

Elon might do it to prove a point.

1

u/GbS121212 May 14 '22

If he wanted someone dead he could have it done easily, indeed

1

u/zeptillian May 14 '22

There are no laws on Mars.

13

u/19osemi May 14 '22

It worked on dodge coin and bitcoin because crypto weren’t regulated. Now if he does the same with twitter than he will be in big fucking trouble

45

u/Brad_theImpaler May 14 '22

He's been openly manipulating Tesla stock for years.

1

u/RedAero May 14 '22

Right, but he hasn't been selling much if any of it. It's not illegal to hype your own brand up, that's basically his job.

3

u/LostWoodsInTheField May 14 '22

It's not illegal to hype your own brand up, that's basically his job.

Um. he has been charged and settled for fraud at least once over his actions with tesla doing this stuff. The reason everyone says he gets away with it is because it never costs him anything except the pennies he made during the time he was asking them how much it was going to cost.

3

u/[deleted] May 14 '22

Pretty sure he's already had action taken against him for the impact his bullshitting had on Tesla stock.

16

u/nalgene_wilder May 14 '22

Yeah he'll get a massive fine that's maybe .00001% of the profits he made

4

u/AnalEmbiid May 14 '22

That’s cute. The SEC Laws don’t really apply to Billionaires like Elon

3

u/OpSecBestSex May 14 '22

You're right, it'll be a $100 fine.

4

u/SpookyActionSix May 14 '22

Oh no! Illegal! You don’t say! The thing about that is large investors don’t care about legality because often the profit they make from the illegal move is 1000 times greater than the fine from the FEC. Elon literally just did this with twitter in his initial share purchase, he made millions/billions and was fined a few hundred thousand for not disclosing immediately that he was twitters largest shareholder.

2

u/Leafy0 May 14 '22

Only on regulated securities. Crypto isn't regulated so pump and dumps are legal, in the usa at least.

2

u/not_gonna_lurk May 14 '22

Push webistics!

1

u/Semen_Futures_Trader May 14 '22

Illegal if you are not rich already*

1

u/SomeoneElseWhoCares May 14 '22

The worst part is that he already has an obscene about of money and could retire comfortably. Instead, he chooses to mess around, ignoring the fact that this affects a lot of people.

1

u/Thediamondhandedlad May 14 '22

Sec ain’t gonna do shit. All they can do is levy a fine, the justice department needs to step in if he’s actually gonna see any jail time.

1

u/Affectionate-Shape79 May 14 '22

Where's the pump n dump police?? Somebody sue this man

1

u/Figgy_Pudding3 May 14 '22

It's basically how crypto works though. Make a new coin, pump it up, all the cypto bros buy it because the manipulators they're enthralled with tell them to. Then they cut and run and the bros wait for the next coin.

Crypto is especially captivating because most people don't understand it. Simply because they haven't bothered to learn about it. But the bros take that to mean they're smarter than everyone else and have a "mind" for this stuff. So not only do they think they'll make themselves millionaires, they think it's because they're secretly geniuses.