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Elon Musk's Twitter Saga Continues: An In-depth Look at His Ongoing Dispute with the SEC · Elon Musk Podcast

• 0:06
  Hi everybody and welcome back to the Elon Musk podcast the show
• 0:09
  where we delve into the latest happenings in the world of
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  SpaceX Tesla and Elon Musk. I'm your host will Walden.
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  And today, we've got a particularly engrossing episode
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  lined up for you. Our Focus for this episode, is
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  the ongoing legal tussle between Elon Musk in the US Securities
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  and Exchange Commission the SEC. A saga that's been unfolding
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  since musk's. Infamous quote funding secured
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  tweet in 2018 and will be dissecting the details of the
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  dispute, which centers around the requirement for musk's Tesla
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  related, tweets to be pre-approved by a lawyer and
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  we'll discuss musk's recent appeal to have this provision
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  overturned. The SEC is counter-arguments and
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  what it all means for the balance between free speech and
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  corporate accountability. Now, Elon Musk is a
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  controversial figure, as we know and in the ever unfolding drama
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  surrounding Tesla's, CEO and the US Securities and Exchange
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  Commission. The latest chapter is sees the
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  billionaire. Entrepreneur continue to Grapple
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  with the agency over his freedom of speech on Twitter.
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  Now, this Skirmish follows musk's 2018 settlement with the
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  SEC which requires his tweets pertaining to Tesla only to be
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  pre-approved by an attorney, a provision that musk Sally.
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  Legal team. Now seeks to overturn and the
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  contentious relationship between musk in the SEC traces.
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  Back to the infamous funding secured, tweet in 2018, a
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  declaration that sparked controversy raised eyebrows and
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  attracted SEC scrutiny and investigation led to musk's
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  agreement to let a lawyer not known on the internet internet
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  as his Twitter sitter review material, Tesla related tweets
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  before posting Now, this agreement has been Authority in
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  alonside and is now under appeal and in a bold move, musk's legal
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  team, submitted a brief to the US court of appeals for the
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  second circuit in New York. In September 20, 22.
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  Characterizing the agreement, as a quote government-imposed
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  muzzle, they argue it unconstitutionally inhibits
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  musk's freedom of speech. A claim that the SEC fiercely
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  contest's It asserting that the agreement is both valid and
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  constitutional. The ensuing a legal battle
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  highlights, the tension between corporate accountability
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  personal freedom and the power of social media in the corporate
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  world. Interestingly, the appeal comes
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  on the heels of a significant legal victory for musk a
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  class-action Securities. Fraud trial revolving around the
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  same funding secured tweet ended with a jury exonerating.
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  Both musk and Tesla of any liability.
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  This victory And musk's legal team to contend that the jury's
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  verdict should be factored into the appeal against the CEOs.
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  SEC settlement provision now. Alex Spiro, one of musk's
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  attorneys argued in light of the jury, finding that mr.
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  Musk tweets did not violate, violate rule, 10, B, Dash five,
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  the SEC lacks support both for the consent decree itself, and
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  for its arguments on appeal. The legal team says, At the
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  public interest in avoiding unconstitutional sediments
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  outweighs the SEC stake in the consent decree.
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  Now however the SEC has hit back, they maintained that the
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  jury's verdict and the private Securities fraud case does not
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  represent a pertinent and significant Authority.
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  They argued that musk's interpretation of the verdict
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  oversteps its actual implications, and in the
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  response, the SEC He pointed out that musk head twice,
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  voluntarily agreed to the consent judgment and that the
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  court had rightly dismissed. His request to alter the
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  Judgment given no significant factual or legal changes that
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  warranted such relief under rule 60 B 5.
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  Now the SEC further highlighted that the private plaintiff in
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  the case had to prove Reliance loss, causation and damages
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  conditions, that would not burden the SEC in a trial.
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  They also noted that the court instructed, the jury to assume
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  that musk's tweets were untrue, which reinforce the scc's
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  argument They concluded ultimately the verdict had.
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  No bearing on whether it is just a district court.
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  Could correctly decline to Grant the extraordinary remedy of
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  altering. Musk's consent judgment years
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  after entry. As of now, the dispute remains
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  unresolved it is yet to be seen whether the court will validate
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  or dismiss the appeal for musk's legal team.
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  The hearing is expected to take place in the spring, but a date
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  is yet to be set. Now this case not only
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  represents another chapter in the ongoing saga between Elon
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  and the SEC, but it also shines a light on much broader issues,
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  it questions, the line between free speech and accountability
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  in the Age of social media and the role that influential
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  figures like musk play in shaping public and investor
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  sentiment Elon, musk's Twitter. Escapades of frequently made
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  headlines with his often candidate.
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  And unpredictable Tweets, we're getting blowed, both Applause
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  and outcry and the current dispute underscores, the
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  potential repercussions of such public statements, particularly
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  when they pertain to a publicly traded company like Tesla, the
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  stakes are high and musk settlement with the SEC.
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  She was no slap on the risk. The original agreement, not only
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  mandated legal oversight of his tweets but also required musk to
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  pay twenty million dollars in civil penalties and temporarily
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  relinquish his position as Tesla's.
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  Chairman a role, he had since reclaimed and while musk's
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  recent victory in the Securities, fraud, trial could
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  be seen as a glimmer of hope for the tech Mogul.
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  It's crucial to know that this is not his first attempt to
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  shake off the Twitter restrictions, a previous effort
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  to dissolve the I meant was blocked last year signaling that
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  the courts may not be swayed by his recent courtroom Triumph.
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  And observers May wonder why musk continues to fight this
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  battle is it simply about the right to free speech?
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  Or is there more at stake? Now, to understand this one must
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  consider musk's use of Twitter as a tool for communication.
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  His tweets have often served as a direct line to his fans and
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  followers a platform where he shares, thoughts teases future
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  projects and Next to current events, sometimes with
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  far-reaching effects and indeed one cannot Overlook the power of
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  musk's Twitter presence, his 50 million, plus followers, include
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  a mix of fans, critics investors and fellow entrepreneurs as
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  tweets, can send Tesla stock price, soaring or plummeting as
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  was the case with the funding secured, tweet the spark, the
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  SEC Zaire and the Billionaire's appeal against the SEC
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  settlement is more than just a legal squabble.
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  It's a battle for control over. Over his preferred method of
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  communication, the verdict could set a precedent for how
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  Regulators oversee, the social media activities of
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  high-profile, corporate leaders. And in the meantime, as we
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  anticipate the spring court hearing one thing is certain
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  Elon musk's Twitter, Saga, will continue to command attention
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  his battle. With the SEC is more than a
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  story of a billionaire. Entrepreneur is brush with
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  regulatory authorities, it's a case study in the intersection
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  of Technology law. Corporate governance in the
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  digital age, but beyond the courtroom drama the issue.
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  Raises important questions about the evolving relationship
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  between technology and business in an age.
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  When a tweet can significantly impact a company's stock price?
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  What regulations should be in place to protect investors?
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  How can we balance these with an individual's right to free
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  speech? Particularly when that
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  individual is as influential as Elon Musk.
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  Now as mus continues to challenge the status quo is
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  struggles with The SEC highlight, the delicate balance
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  between Innovation, regulation and personal freedom, the
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  verdict, when it arrives is likely, they have far-reaching
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  implications, not just for musket Tesla though but for the
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  broader business and Regulatory landscape.
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  So we're going to sit back. We're going to watch and we will
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  keep our Twitter notifications on.
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  Thanks everybody for listening to the Elon Musk podcast today.
• 8:48
  If you enjoyed this episode, please take a second and hit the
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  Subscribe button, on whatever platform where the follow button
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  on, whatever pie. Form, you're on right now, it
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  would greatly help. This show reach a broader
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  audience. So thank you for that and thank
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  you for taking the time out of your day today to be here with
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  me. Take care of yourselves and each
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  other and I'll see you next time.