Elon Musk Says He Doesn't Respect SEC, Tweets Fall Under 'First Amendment'

Elon Musk Says He Doesn't Respect SEC, Tweets Fall Under 'First Amendment'

Mr Musk said he and Tesla had chosen to pay the $20m (£15m) settlement fine because while he did not respect the regulator, he did believe in the justice system.

ELON MUSK: The only Tweets that would have to be say reviewed would be if a tweet had a probability of causing a movement in the stock.

"Otherwise it's 'Hello, First Amendment, ' he continued, referencing the United States constitutional right to free speech, which he called "fundamental". Like, freedom of speech is fundamental.

"Are you serious?" Stahl responds, laughing at his answer.

Asked how Tesla would know if his tweets would move the market if they weren't all being read, Musk replied: "Well, I guess we might make some mistakes".

LESLEY STAHL: But you're abiding by the settlement, aren't you?

His Twitter presence certainly hasn't helped him, to the point that in September Musk had to fork out $27.7 million to the US Securities and Exchange Commission for tweeting about taking Tesla private at a cool weed-number-esque $420 US a share, despite Musk knowing "that the potential transaction was uncertain and subject to numerous contingencies". He stoked controversy all summer with his erratic behavior, taunting the SEC, calling a diver in the Thai cave rescue a "pedo" and capping the summer by appearing to smoke pot on the Joe Rogan podcast.

"I use my tweets to express myself".

Robyn Denholm, an Australian telecommunications executive, was appointed chairwoman of Tesla's board last month, replacing Musk as part of as part of a securities fraud settlement with USA government regulators. "Some people use their hair", he said, "I used Twitter". (Editors" note: CNET is owned by CBS, which airs 60 Minutes.) "If somebody's gonna jump in the war zone, it's, like, "Okay, you're in the arena".

Following Sunday's interview, there is no longer any need to read between the lines. Let's put it that way.

Tesla has struggled to ramp up production of its much hyped Model 3 midsize sedan. Well, because Elon admits that "punctuality is not my strong suit". But "just because I'm dumb at predicting dates doesn't mean I'm untruthful", he added. "How am I supposed to know with precision when it's going to get done?" "We're probably less than 6 months from that, but that's our mission".

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