Elon Musk is a stonckfluencer

Recode Daily

Recode

Society & Culture, Science, Technology

4.6 • 1.3K Ratings

🗓️ 7 June 2021

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Back in 2018, Elon Musk tweeted about taking Tesla private. The SEC fined him and his company $40 million, he lost his Tesla chairmanship, and he was ordered to have his tweets reviewed by company lawyers. Three years later, his tweets are still influential. Whether about Tesla’s solar roof manufacturing plans or his opinion that Tesla’s stock is “too high,” his tweets continue to push the market up and down. Now, Musk has taken to tweeting about cryptocurrencies like bitcoin and dogecoin, sending those prices spiraling. Recode’s Rani Molla (@ranimolla) explains. References: Rani wrote about Elon’s market-moving tweets. She also wrote about the Elon effect on the price of popular cryptocurrencies. –– Enjoyed this episode? Rate Recode Daily ⭐⭐⭐⭐⭐ and leave a review on Apple Podcasts. What do you want to learn about on Recode Daily? Send your requests and questions to recodedaily@recode.net. We read every email! Subscribe for free. Be the first to hear the next episode of Recode Daily by subscribing in your favorite podcast app. Learn more about your ad choices. Visit megaphone.fm/adchoices This episode was made by: - Host: Adam Clark Estes (@adamclarkestes) - Producer: Sofi LaLonde (@sofilalonde) - Engineer: Paul Mounsey Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:48.0	You might remember this infamous tweet from Elon Musk in 2018.
0:53.4	Quote, and considering taking Tesla private at $420 bucks a share, funding secured.
1:00.1	And then he followed up, shareholders could either to sell at $420, or hold shares in
1:05.5	go private.
1:07.5	Tesla's stock price soared, and the SEC said,
1:11.2	Elon, you can't actually do that.
1:12.8	You got in trouble with the SEC because he didn't actually have funding secured.
1:17.2	They settled, and Elon promised you would have his lawyers review any tweets that could
1:21.4	move the market.
1:22.4	But then, in 2019, he did it again.
1:26.3	Elon Musk tweeting, spooling up production, line rapidly, hoping to manufacture 1,000 solar
	...

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