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Elon Musk softens SEC stance, but calls out agency over handling of FTX controversy

Steve Jurvetson from Menlo Park, USA, CC BY 2.0 , via Wikimedia Commons

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3 years ago

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During his testimony in court last week, Tesla CEO Elon Musk seemed to soften his stance on the United States Securities and Exchange Commission (SEC). Musk and the SEC have butted heads several times in the past, with the CEO previously admitting that he had does not respect the SEC.

Musk was in court last week to defend his high-risk, high-reward compensation package, which was approved back in 2018, when Tesla was a company with a valuation of $59 billion. The case was filed by Richard Tornetta, a TSLA stockholder with a reported nine shares, who claimed that Musk had dictated the terms of his compensation plan so that he could easily meet its targets. 

While at court, Musk clarified that he actually believes that “the mission of the SEC is good.” The Tesla CEO explained that he takes issue with the agency and its enforcement decisions. Musk cited an example of this, stating that the SEC had been all-too-willing to investigate him while it seemingly gives little attention to larger controversies such as the collapse of cryptocurrency firm FTX. 

“In general, I think the mission of the SEC is good, but the question is whether that mission is being executed well. In some cases, I think it is not. The SEC fails to investigate things that they should and places far too much attention on things that are not relevant. The recent FTX thing I think is an example of that. Why was there no attention given to FTX? Investors lost billions. Yet the SEC continues to hound me despite shareholders being greatly rewarded. This makes no sense,” Musk said. 

While Musk’s sentiments seem valid considering that longtime Tesla investors have benefitted substantially from the electric vehicle maker’s rise, the SEC is not necessarily “ignoring” the FTX controversy. As per previous reports earlier this month, the Justice Department, Securities and Exchange Commission, and the Commodity Futures Trading Commission have all reportedly launched investigations into how FTX handled customer funds. 

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Apart from his statements about FTX, Elon Musk also provided some comments about his tweet from 2020 when he asked his followers to provide an acronym for the SEC with the “E” standing for “Elon’s.” While the tweet was met with polarizing reactions from Tesla supporters, Musk provided his own alternative meaning in court – “Save Elon’s Company.” 

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla releases cryptic teaser for something massive and it’s coming this week

On Sunday morning, Tesla released a nine-second teaser video of what appears to be either a vehicle wheel, fan, or some sort of propeller, but there are no real clues as to what it could be exactly.

Published

7 hours ago

on

October 5, 2025

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Credit: Tesla

Tesla has released a cryptic teaser for something massive, and it will release details on it this week. With many different projects in the works, there is a lot of speculation going on about what it could potentially be, but we have a few ideas.

On Sunday morning, Tesla released a nine-second teaser video of what appears to be either a vehicle wheel, fan, or some sort of propeller, but there are no real clues as to what it could be exactly.

It then ends with “10/7,” meaning it will announce something on October 7, which is this Tuesday:

Given that Tesla has been working on a handful of pretty notable projects that are set for unveiling at the end of this year, and there are some clues that seem to point in their direction with this short teaser video.

There are two projects that come to mind almost immediately: the Tesla Roadster is one, and the “E41” or affordable model is the other. Here’s what we know about both:

Tesla Roadster Demo Event

Tesla said earlier this year that it would have a demo event for the Roadster to unveil some new technologies and show off what it has been working on over the past few years.

There have been a lot of crazy things in the works for the Roadster, including a SpaceX package that would use cold-gas thrusters for an insane 1.1-second 0-60 MPH acceleration rate. This package was also supposed to help it hover, something CEO Elon Musk has teased for the past few years.

The Roadster was ready for release earlier this year, but after Chief Designer Franz von Holzhausen and VP of Powertrain Lars Moravy showed Musk what they had come up with, he wanted more.

Moravy said on the Ride the Lightning podcast earlier this year:

“What we had come up with exceeded what we originally planned. So, Elon was like, ‘Wow, great. Let’s do more!'”

The Roadster event was coined as “the most epic demo,” and since it was planned for the end of 2025, it is totally feasible to believe this could be it.

Elon Musk teases Tesla’s “most epic demo” by end of year

Tesla ‘E41’ Affordable Model

Some believe the teaser could be the official launch of Tesla’s affordable model, which Musk said earlier this year is simply a stripped down Model Y.

There have been some sightings of this vehicle in the past few weeks, including one on Friday that showed the vehicle completely uncovered for the first time:

The launch of the affordable model makes sense, especially from a timing perspective. With the $7,500 EV tax credit officially coming to a close on September 30, many are wondering how Tesla will spark growth in its deliveries. A more affordable EV would be the perfect response, and it is something that Tesla has been working on for some time.

Other Potential Ideas

There are some pretty interesting ideas as to what the teaser could be apart from the Roadster or affordable model. Some believe it could be a cooling fan for a GPU cluster, which would make sense considering Tesla’s prowess in data.

Grok also made an interesting guess, stating it could be a propeller for a secret air taxi Tesla is developing. This seems sort of our of left field.

We do know Tesla hosted a handful of influencers at Gigafactory Texas this past week, so whatever the company showed them is likely what will be unveiled on Tuesday.

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Tesla Optimus is learning martial arts in new video teasing capabilities

For the past few months, Tesla has been refining its capabilities and making some serious progress on what Optimus is capable of. This morning, Musk released a new video showing Optimus learning Kung Fu, perhaps its most impressive feat yet.

Published

23 hours ago

on

October 4, 2025

By

Credit: Elon Musk | X

Tesla Optimus is learning martial arts, a new video released by CEO Elon Musk shows, a crazy development and advancement in the robotics project the company has been working on for a few years.

Optimus has been a major focus of Tesla for the past several years, especially as Musk has said he believes it will be the biggest product of all time and could be the biggest contributor to the company’s valuation.

For the past few months, Tesla has been refining its capabilities and making some serious progress on what Optimus is capable of. This morning, Musk released a new video showing Optimus learning Kung Fu, perhaps its most impressive feat yet:

The video shows Optimus working with a Kung Fu teacher, known as a Shifu, going through what appears to be some sort of routine of combinations. It’s quite impressive to see the fluidity of the movements and Optimus’s ability to keep up with Shifu.

Tesla has been “working hard” to scale Optimus production, Musk said last week, a project that has obviously confronted both AI and manufacturing teams with a variety of challenges.

The plan is to have an annual production run-rate of one million units by 2030, and there were plans to build 5,000 units this year.

Elon Musk gives update on Tesla Optimus progress

Musk still believes Optimus will make up roughly 80 percent of Tesla’s value. In January, he said it would be “overwhelmingly the value of the company.”

Tesla plans to launch the Gen 3 version of Optimus soon, and although a video of a new-look prototype was released by Marc Benioff, the CEO of Salesforce, the company’s frontman stated that this was not what the next-generation prototype would look like.

Elon Musk confirms Tesla has never shown Optimus V3 design yet

This video seems to show there is still significant progress being made on the Optimus project, and it will be perhaps one of the most impressive humanoid robots available to consumers in the coming years.

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Elon Musk

Tesla Full Self-Driving v14 gets new release date, Elon Musk details

“Last minute bug cropped up with V14. Released is pushed to Monday, but that gives us time to add a few more features.”

Published

1 day ago

on

October 4, 2025

By

Credit: Tesla

Tesla’s Full Self-Driving version 14 has gotten a new release date after new details from CEO Elon Musk opened up some new perspectives on the suite.

Originally slated for an “early wide release” of v14 this past week, then a launch of v14.1 and v14.2 this week and next week, respectively, delays arose after Tesla’s Autopilot team found some issues within the software.

Tesla FSD V14 set for early wide release next week: Elon Musk

Musk detailed on X this morning that a “last minute bug” appeared before release, which has now pushed FSD v14’s release back to this Monday:

Musk also said the delay would give Tesla the ability to “add a few more features,” which seems like an added advantage, although he did not provide any additional details on what these features could be.

In classic Musk fashion, he has teased the capabilities of this version of the FSD suite since it became public knowledge that Tesla was working on it. He said that it is the second most important update for the AI/Autopilot team since FSD v12.

V14 will have a parameter count that is ten times what previous iterations were, which should provide more accuracy and a more human-like operation.

Musk has said v14 “feels alive” and has used the word “sentient” to describe its performance. The goal with the new FSD rollouts is to eliminate as many interventions as possible, making it as close to human driving as possible.

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