Permitting and perpetuating this kind of myth-making is practically part of Elon's fiduciary duty to his shareholders at this point. You can't fault him for doing it, because he has to.

You have to admit though, based on comments all over any story about Tesla here at least, that it works as a bogeyman. The only other fiction that’s more powerful is that Musk does everything he does to send humanity to Mars, save the world, etc. Musk has a true talent for figuring out what his target audience wants to believe, and then selling it to them at a premium. Smart, technically minded people (key early adopters of Tesla) are desperate for a way to keep humanity going in the face of climate change, possible impact events, and so on. Musk more or less frames his rather mundane personal aggrandizement and money-making endeavors as lynchpins in just those areas. He helps to convince people who want to believe, that they can help save the world not through anything like sacrifice, but by buying stock or a luxury car!

They eat it up, and are enraged at people who scoff, and no one scoffs harder than someone who puts their money on a bet that the stock is overvalued. As a result the short is already a subject of hate, and perfect to pin all of the evils of the world on. It perpetuates a classic tribal narrative and dresses it up in just enough pseudo intellectual finery to convince a target audience which already wants to believe. As a bonus that audience thinks it’s too smart to be fooled that way, and above tribalism, making it easier to sell the story and harder for them to admit what they’ve fallen for.

Look at some of these comments, and you see the evidence of just what I’m talking about!

The law says a lot of things. I'm ok with short sellers losing their shirts regardless.

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I also take the long view; Elon is instrumental to the long-term outcome for Tesla, our species, and our planet.

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Because he made short sellers look like idiots? I think not. I just bought more.

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SEC suing Elon Musk is , quite frankly one of the most abhorrent actions a US govt agency can ever do against genuine American Entrepreneurship and American innovative spirit. There is not a single human being on the planet who comes close to Elon Musk when it comes to big , bold innovation and tech entrepreneurship who is putting his heart and soul into leading the human race into the future.

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you can’t disrupt or otherwise show up all of these players: the us/eu/russian/chinese space industries (and by extension the governments of china and russia), the oil industries of russia/saudi/usa, the major auto manufacturers, power companies, professional car and truck drivers, and the us dealership association (what am i forgetting), all of whom are politically very well connected, and some of whom have their hordes of paid shill internet commenters, and upvoting/downvoting bot nets (not that that would ever happen on hn (and if it would it’s against hn rules to suggest it)) and expect not to get trounced. elon might have fucked up by sending that tweet, but the response here, on reddit, and by the gov’t is way out of proportion, esp considering everything positive that this man has accomplished and is currently working on.

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He didn’t screw anyone over. Wall street gamblers lost money, and our culture coddles Wall Street bros like helpless babies.
Traders who lost money wouldn’t have had the stock to trade without Elon in the first place!

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The entire world will lose if Elon is forced out. He’s the biggest fighter for climate change and space travel in modern history, greater than Al Gore in marketing and execution, greater than Buzz Aldrin, Tyson, and cosmos. I’d much rather have an honest relatable Elon Musk than a suit. I’d rather have creativity than suffocating structure.

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The subtext is that Elon intentionally bumped the stock price to screw over short sellers like Jim Chanos. But the rationale behind 10b5 is to protect investors from fraud. Right, we are not concerned with protecting short-sellers who spend all day on twitter making up negative stories about their targets.

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The battery and solar operations side of TSLA are critical to spaceX's mission to Mars. Can't have a martian colony without being able to harvest and store energy. Additionally the CV being done at Tesla could prove critical in automating prefabrication of living spaces and life support infrastructure. Can't be doing anything like that remote controlled with 8 min latency.

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What a joke, there are plenty of scumbag and criminal leaders of corporations and this is the guy who doesn't walk. It'll be a sad day for the world if this guy goes to jail.

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I know where Elon comes from, what missions and goals he has stated for years now, and what he is trying to accomplish.
I promise you, Elon legitimately thought there would be an opportunity to go private again. He's said he wanted to do so in the past, and even has said they never wanted to go public, but were left with no choice. I don't think any part of Elon was trying to commit fraud or security manipulation. He made a mistake, we all do. He said something that should not have been said at that given point of time. I'm sure he was excited. He even said he typed that tweet in the car after leaving SpaceX.