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Tesla CEO Elon Musk Reaches Settlement with US SEC Over Twitter Use

Judge Nathan, who has presided over the case so far, still needs to approve the amendment

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Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

After weeks of negotiation with the US Securities and Exchange Commission (SEC) over his controversial Twitter activities, Tesla CEOElon Musk has agreed to more specific oversight on his tweets about the company.

According to the settlement reached between the two parties, all tweets from Musk about Tesla’s financial health, sales or delivery numbers would have to be pre-approved by a company lawyer.

The two sides filed late Friday to amend the settlement agreement reached last year over the ‘funding secured’ debacle, which originally prompted the SEC to attempt to install oversight over Musk’s tweets, The Verge reported.

TWitter
The logo for Twitter is displayed above a trading post on the floor of the New York Stock Exchange. vOA

Earlier in February, the SEC asked to hold Musk in contempt of court for allegedly violating a previous public disclosure settlement.

Musk and the SEC spent the next few weeks filing scathing responses, with Musk saying the SEC was attempting an “unconstitutional power grab,” and the agency saying the Tesla CEO was in “blatant violation” of the settlement, the report added.

However, as per the new agreement, any written communication from Musk containing Tesla information regarding mergers, accusations, business expansion, credit facilities, future ventures and on several other confidential subjects have to be first discussed with the company lawyer before being disclosed to anybody.

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In addition, Friday’s filing ensures that even though Musk would now be subject to oversight on a rash of specific topics related to Tesla, he would not need to have every off-handed tweet about the company approved — an idea that the SEC had been advocating for a long time.

Judge Nathan, who has presided over the case so far, still needs to approve the amendment. (IANS)

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Elon Musk Aims to Send 10 Lakh People to Mars by Year 2050

Musk has already estimated the cost of having a self-sustaining civilization on the Red Planet which is "between $100 billion and $10 trillion"

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Tesla CEO Elon musk, board
Tesla CEO Elon Musk. (VOA)

SpaceX CEO Elon Musk aims to send 10 lakh people to Mars by 2050 and in a series of tweets, has revealed how is he going to achieve the daunting task of colonising the Red Planet and make humans beings ‘multiplanetary’.

Throwing more details about his Starship programme, Musk said the rocket would carry many megatons of cargo per year to the Red Planet to prepare Mars for a human presence by mid-century.

“Megatons per year to orbit are needed for life to become multiplanetary,” he tweeted.

“Starship design goal is 3 flights/day avg rate, so over 1,000 flights/year at over 100 tonnes/flight, so every 10 ships yield 1 megaton per year to orbit,” Musk explained to his 30.7 million followers.

The orbital Starship prototype, designed “SN1” is currently under construction at SpaceX’s Texas facility.

“Building 100 Starships/year gets to 1,000 in 10 years or 100 megatons/year or maybe around 100k people per Earth-Mars orbital sync,” the SpaceX CEO further explained.

That translates to a schedule of once every two years when Earth and Mars are closest to one another.

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SpaceX founder and chief executive Elon Musk, left, speaks during an event. VOA

SpaceX’s goal, according to Musk, is to finally send 10 lakh people to Mars by 2050.

In September last year, SpaceX requested NASA to provide it with potential landing sites on the Red Planet.

SpaceX is building the Starship (formerly known as the BFR), a fully reusable vehicle designed to take humans and supplies to Mars.

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Musk earlier floated the idea that making Mars warmer would be crucial for making it habitable for humans and one way of doing it would be launching thermonuclear weapons in order to create tiny “suns” over the regions.

The idea is to convert any frozen carbon dioxide into gas, thereby engineering a greenhouse gas.

Musk has already estimated the cost of having a self-sustaining civilization on the Red Planet which is “between $100 billion and $10 trillion”.

He arrived at the figure after estimating the approximate future cost of sending a minimum payload to Mars “to nearest order of magnitude”, at $100,000 per tonne. So if building a self-sustaining city on Mars requires a million tonnes of cargo, the cost would be around $100 billion, Musk calculated. (IANS)