News
Tesla owner, ACLU win injunction against DMV in ‘offensive’ vanity plate dispute
A Tesla Model 3 owner won a preliminary injunction on Friday against the Rhode Island DMV in a dispute involving the use of a vanity plate displaying the message “FKGAS.” In response to an anonymous complaint earlier this year, the agency belatedly determined the messaging was offensive and that the plate must be returned. However, a lawsuit was filed in partnership with the state’s American Civil Liberties Union (ACLU) branch contesting the decision on constitutional grounds.
The “very essence of vanity plates is personal expression,” wrote U.S. District Judge Mary McElroy in the decision granting the injunction, agreeing that the lawsuit’s case was likely to succeed on the merits. “The revocation of the license plate, which would prohibit Mr. Carroll from expressing his views on fossil fuel propulsion of motor vehicles, would stifle him in an irreparable way.” The judge also suggested the overall authority of DMVs to reject “offensive” vanity plates was unconstitutional, according to a report on the case in the publication The Providence Journal.
This initial victory ensures that the owner, Sean Carroll, may continue displaying the vanity tag until a full case decision is made. “I am thrilled with Judge McElroy’s decision on my First Amendment right allowing me to express my views through my vanity plate,” Carroll said in a statement published by the Rhode Island ACLU. The Model 3 owner also acknowledged that, while the plate’s full translation was intended as “fake gas,” it could also be perceived as conveying the message “fuck gas,” a meaning he supported as well.
In a significant decision for free speech advocates and vanity plate enthusiasts alike, a federal judge said a Scituate man can keep the "FKGAS" plate on his Tesla for now. The RI DMV has tried to cancel it. https://t.co/WEogyg9EGZ
— Brian Amaral (@bamaral44) October 4, 2020
In the lawsuit, Carroll’s motivation for obtaining the vanity plate was “because he wished to convey, through the license plate, a personal philosophical and political message concerning his views about gasoline-powered automobiles and the environment.” He previously explained that the idea came after a conversation with his daughter during which he described how the all-electric vehicle was powered by their home’s solar panels. His daughter remarked that the car runs on “fake gas,” and thereby the “FKGAS” vanity plate was born.
“‘FKGAS’ is my personal statement challenging everyone to look at the world differently. Gas isn’t the only option when it comes to powering your vehicle,” Carroll said in a statement to The Providence Journal. “My choice for a vanity plate has already brought more attention to alternative fuel sources and electric vehicles.”
As another important part of Carroll’s case, the DMV already issued the Model 3’s plate twice before deciding to recall it, citing “inappropriate language.” The Tesla owner had driven with the message on his vehicle for at least five months before the agency reneged in response to an anonymous complaint. A key point of the arguments of the case filed with the ACLU was the arbitrary nature of the DMVs decision making process on vanity plates, ultimately pitting those decisions against first amendment protections such as Carroll’s views.
“[T]he DMV has prohibited such combinations as AIDS, CHRIST, GAY, JESUS, LESBIAN, REDNECK and YANKEE. But it has issued plates that read CHRIST, JEWISH, REDNEC, and REDNEK. It has prohibited words that are typically denigrating, such as CHUBBY and SLOB, but allowed FATT and OLDFRT,” Judge McElroy detailed in her decision.
The full lawsuit will be reviewed and decided in the coming months.
Elon Musk
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
The estimates were shared by the official Polymarket Money account on social media platform X.
Recent projections have outlined how a potential $1.75 trillion SpaceX IPO could generate historic returns for early investors. The projections suggest the offering would not only become the largest IPO in history but could also result in unprecedented windfalls for some of the company’s key investors.
The estimates were shared by the official Polymarket Money account on social media platform X.
As noted in a Polymarket Money analysis, Elon Musk invested $100 million into SpaceX in 2002 and currently owns approximately 42% of the company. At a $1.75 trillion valuation following SpaceX’s potential $1.75 trillion IPO, that stake would be worth roughly $735 billion.
Such a figure would dramatically expand Musk’s net worth. When combined with his holdings in Tesla Inc. and other ventures, a public debut at that level could position him as the world’s first trillionaire, depending on market conditions at the time of listing.
The Bloomberg Billionaires Index currently lists Elon Musk with a net worth of $666 billion, though a notable portion of this is tied to his TSLA stock. Tesla currently holds a market cap of $1.51 trillion, and Elon Musk’s currently holds about 13% to 15% of the company’s outstanding common stock.
Founders Fund, co-founded by Peter Thiel, invested $20 million in SpaceX in 2008. Polymarket Money estimates the firm owns between 1.5% and 3% of the private space company. At a $1.75 trillion valuation, that range would translate to approximately $26.25 billion to $52.5 billion in value.
That return would represent one of the most significant venture capital outcomes in modern Silicon Valley history, with a growth of 131,150% to 262,400%.
Alphabet Inc., Google’s parent company, invested $900 million into SpaceX in 2015 and is estimated to hold between 6% and 7% of the private space firm. At the projected IPO valuation, that stake could be worth between $105 billion and $122.5 billion. That’s a growth of 11,566% to 14,455%.
Other major backers highlighted in the post include Fidelity Investments, Baillie Gifford, Valor Equity Partners, Bank of America, and Andreessen Horowitz, each potentially sitting on multibillion-dollar gains.
News
Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
Tesla has started its first Full Self-Driving (Supervised) road trials in Abu Dhabi under the oversight of the Integrated Transport Centre, also known as Abu Dhabi Mobility.
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
FSD (Supervised) road trials are being conducted with the support of the Smart and Autonomous Systems Council and in coordination with the Legislation Lab at the General Secretariat of the UAE Cabinet.
Dr. Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre (Abu Dhabi Mobility), highlighted the agency’s regulatory role in overseeing the FSD (Supervised) tests in a press release.
“The supervision of the Integrated Transport Centre (Abu Dhabi Mobility) over the commencement of Tesla’s advanced autonomous driving technology tests reflects its regulatory and legislative role. These tests represent a qualitative step to evaluate the technology’s performance in a real-world operating environment and to collect the necessary data to verify its readiness before any future expansion in usage.
“Through this organized framework, and in cooperation with strategic partners, we seek to achieve a balance between supporting innovation and encouraging the adoption of smart solutions on one hand and ensuring the safety of road users on the other, in line with the emirate’s direction to develop an advanced, safe, and sustainable transport system,” he said.
Tesla is putting a lot of effort into expanding the rollout of FSD (Supervised) to territories outside in the United States. During a recent interview with Giga Berlin plant manager Andre Thierig, Musk stated that Tesla is looking to secure approval for FSD (Supervised) in the Netherlands this coming March.
“Tesla has the most advanced real-world AI, and hopefully, it will be approved soon in Europe. We’re told by the authorities that March 20th, it’ll be approved in the Netherlands,’ what I was told. Hopefully, that date remains the same. But I think people in Europe are going to be pretty blown away by how good the Tesla car AI is in being able to drive,” Musk stated.
Elon Musk
SpaceX considering confidential IPO filing this March: report
The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion.
SpaceX is reportedly preparing to confidentially file for an initial public offering (IPO) as soon as March. The filing could pave the way for a June listing at a valuation that may exceed $1.75 trillion, potentially making it the largest IPO in history.
The update was initially reported by Bloomberg News, which cited information shared by people reportedly familiar with the matter.
As per the publication, a confidential filing allows a company to receive regulatory feedback before publicly releasing its financials. Bloomberg’s source, however, noted that the timing of SpaceX’s IPO is still under discussion and plans could change.
SpaceX did not immediately respond to requests for comment.
A March submission would mark the clearest step yet toward bringing Elon Musk’s private space company into public markets. People familiar with the preparations said the offering could raise as much as $50 billion. That would surpass the $29 billion debut of Saudi Aramco in 2019, currently the largest IPO on record.
Major banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley, and Bank of America Corp. are reportedly positioned for senior roles in the transaction. SpaceX is also said to be considering a dual-class structure that would allow insiders, including Musk, to retain enhanced voting control.
Satellite communications provider EchoStar Corp., which holds a stake in SpaceX, reportedly saw its shares rise following news of the potential filing.
At a valuation exceeding $1.75 trillion, SpaceX would immediately have a larger market cap than all but five of the companies traded in the S&P 500 index. That figure would place it ahead of Meta Platforms Inc. and Tesla Inc. by market capitalization, trailing only a small group of mega-cap firms such as Apple Inc. and Microsoft Corp.
The scale of the proposed valuation reflects SpaceX’s dominance in orbital launch services and its Starlink satellite network, which serves millions of users globally. The company has also outlined long-term expansion plans tied to higher Starship launch cadence, orbital infrastructure, and lunar development initiatives.
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
