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Elon Musk being sued by Twitter shareholders · Elon Musk Podcast

• 0:00
  Hey everybody, welcome back to the show.
• 0:01
  This is the Elon Musk bod. My name is Will Walden.
• 0:04
  I'm the host of the show and we're going on a couple years
• 0:08
  now. The show, and I want to say
• 0:10
  thank you to everybody who subscribe to the show.
• 0:12
  And if you haven't subscribed on your favorite podcast app,
• 0:14
  please do so because we give you the latest Elon Musk news almost
• 0:20
  every day. So let's talk about this Twitter
• 0:22
  shareholder, that's suing. Elon Musk pursuing Tesla CEO,
• 0:28
  Elon Musk in A federal Securities, cop class action
• 0:32
  lawsuit because musk failed to disclose his five percent stake
• 0:36
  in the social media company of Twitter when he was required to
• 0:40
  do. So by the SEC and the delay
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  allowed musk to buy more shares of Twitter on a lower price and
• 0:47
  cheat other sellers of Twitter stock out of increased profits.
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  And that's what that's what they claim.
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  Cheating other Twitter sellers For money.
• 0:59
  So that's what they're claiming Elon Musk did.
• 1:01
  It was filed in the Manhattan federal court on Tuesday.
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  By one Mark Bain, rossella on behalf of all investors who sold
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  or otherwise disposed of Twitter Inc.
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  Securities between March 24th 2022 in April 1st 2022,
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  inclusive in according to the lawsuit, must began acquiring
• 1:19
  Twitter shares, in January and by March 14th had acquired over
• 1:24
  5% of Twitter stocks. The US Securities and Exchange
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  Commission requires investors to file a Schedule 13 within 10
• 1:34
  days of passing, the 5% threshold and so apparently you
• 1:40
  Lon didn't submit the filing until he got about nine point
• 1:44
  one percent stake in Twitter. So he's a little bit off their
• 1:49
  little bit off. And one must finally filed the
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  required schedule, 13, which revealed his ownership, stake in
• 1:56
  Twitter. The company's shares rose from a
• 1:59
  closing price of $39.99 per share on April 1st to $49.90 per
• 2:07
  share on April, 4th within three days.
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  And they crease of approximately 27%, and by keeping steak and
• 2:16
  Twitter quiet and hidden Ilan, was able to artificially keep
• 2:21
  the price the stock down and buy it at a premium.
• 2:23
  So he bought it at a lower price and then he gained more profit
• 2:27
  from it. So if this lawsuit goes through,
• 2:31
  some of these people may be getting a payout, we'll see what
• 2:34
  happens in the future and on April 4th Twitter hit confirmed
• 2:38
  that musk purchase. 9.2 percent shares of the company and there
• 2:43
  was talk of musk joining Twitter's board and then he
• 2:47
  backed down from them. And I had a show yesterday or he
• 2:52
  was your. I think I posted earlier today
• 2:55
  about how I believe, this is a power move by Elon.
• 2:58
  And instead of joining the board, which would only allow
• 3:00
  him x amount of percentage of stocks, he can go in now,
• 3:06
  because he's outside of the outside of the board.
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  He can can buy anything he wants to, he can buy 51% shares and he
• 3:15
  can gain control of Twitter. So yeah, there's a, there's a,
• 3:22
  there's a kind of a legal thing going on here.
• 3:24
  There's also a power move by Elon and seems like He didn't
• 3:29
  disclose his five percent when he was supposed to according to
• 3:32
  this lawsuit, allegedly, I should say everything here is
• 3:35
  allegedly. And there is a there's an
• 3:39
  ongoing lawsuit against Elon going forward.
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  Now there's another thing going on too.
• 3:44
  So this is a Tesla thing. Tesla extend their Peak charging
• 3:49
  hours of California superchargers because they're so
• 3:52
  many sales of Tesla's. This is a really great thing for
• 3:57
  Tesla All the Tesla owners in California.
• 4:01
  Want to say money at superchargers will have to wait
• 4:04
  until 9 p.m. to power up, right? So the company pushed, its
• 4:09
  off-peak charging hours from 7 p.m. to 9 p.m. in California.
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  According to an email from Tesla that was shared on Reddit
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  earlier. And the Tesla peak hours, which
• 4:18
  are now from 11 a.m. to 9 p.m. is about twice the cost on a per
• 4:24
  kilowatt hour basis, then, off-peak hours, so Twice the
• 4:29
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  Ilan back plays.com Ilan, backblaze.com, Ilan 9 p.m.
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  So it's basically, before you go to work, it's fine, you know,
• 6:50
  and of normal work day, you get there about nine o'clock in the
• 6:52
  morning, 9:00 10:00 in the morning.
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  Or earlier and 11 a.m. it's peak hours.
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  So, lunch time, when everyone's driving around to find lunch
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  until 9 p.m. peak hours, up until 9 p.m., because you're
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  stuck in traffic the whole time, you're going out, you're doing
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  something. So after 9 p.m. it kicks down a
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  little bit. So later start time for Tesla is
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  expected to help the company manage costs of maintaining.
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  The network, is it continues to ramp up sales on a very large
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  scale and this encourages owners to charge the cars later in the
• 7:26
  day and it could help manage the long lines and wait, times in
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  California, supercharges, I've known people, I've talked to
• 7:33
  people that have waited an hour to get into a supercharger in
• 7:37
  Santa Monica, And if you're waiting an hour in line to do
• 7:42
  anything, it's a pain in the butt.
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  So eventually, you know, test has got to beef up their
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  Network. And right now, they're selling
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  too many cars, they don't have enough chargers to charge those
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  cars, so pushing it back a little bit.
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  Could possibly reduce those lines, which is a really healthy
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  thing for Ev drivers. So Tesla statement for this.
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  Is starting April 1220 22. Off-peak hours will change at
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  California. Supercharger locations, charge
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  for Less it. Select superchargers before 11
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  a.m. and after 9 p.m. tap, the supercharger map pin on your in
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  screen in car touch screen to view specific rates.
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  Ineligible sites navigate to your destination using Trip.
• 8:29
  Planner in your battery will automatic precondition before
• 8:33
  you arrived. So very easy tap on your map.
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  Navigate to a supercharger. See if it's one that has the
• 8:41
  peak hours and then do what you got to do, charge your car up.
• 8:47
  That's what's so cool about Teslas.
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  They make it easy for you as easy as they can.
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  At this point there is it's not like a nice car.
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  You know, you can't go to every corner and get a supercharger.
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  They're working on it though. So the supercharger network is
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  growing and the the amount of vehicles that are being sold TVs
• 9:07
  that are being sold, is Saying teeth Tesla said just a little
• 9:13
  bit ago that they don't have, you know, they don't even have
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  10% of Auto Sales yet. When they get the 10%, could you
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  imagine the long lines, if it were similar to what they are
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  right now, you would be insane if they were at 10% with the
• 9:26
  current supercharger platform, but they have now have to build
• 9:29
  out the supercharger platform if the build it out all over the
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  country, all over the world and that cements their legacy
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  because the Large, automakers are coming for them, you know,
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  they're going to be making less expensive cars in the going to
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  have their own charging networks Tesla's, way ahead on technology
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  way way ahead, a supercharger on their Network, everything.
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  But it's a huge selling point for a lot of people.
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  I know when I'm looking at Tesla's.
• 9:59
  I look at the supercharger Network.
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  First, I know what car I want. You know, if I Want a Model X, I
• 10:05
  want to know the range of that thing.
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  And I want to know where I Go to super charge my car and because
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  I live in an apartment, A lot of people.
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  Do you live in apartments in the best thing to do?
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  You can't charge it here. There's no hope that from my my
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  window. I can't run an extension cord.
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  I guess I could be a really long extension cord, but I guess I
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  could late at night run, an extension cable out to my car,
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  but I'm not going to and there's a supercharger.
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  Luckily downtown here, which is pretty, pretty chill.
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  There's usually not that many people there.
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  So, So, that would be okay. But the supercharger network is
• 10:41
  a big deal for the future of Tesla and if you agree with me,
• 10:46
  make sure to hit the Subscribe button because we're growing,
• 10:50
  we're growing, it's great. I just looked at our statistics
• 10:52
  today, more people are joining up and subscribing to the show.
• 10:56
  So thank you so much to everybody who's been supporting
• 10:58
  us. That's it for me today,
• 11:00
  everybody. I just want to let you know
• 11:01
  about Elon getting sued and about Tesla and the peak hours
• 11:07
  in California. Pretty cool.
• 11:08
  It's tough. All right.
• 11:09
  Thanks, everybody take care and I'll see you next time.
• 11:12
  I'll let you land. Must be fun.
• 11:13
  Bye-bye.