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Tesla’s Elon Musk cites popular Eminem rap song in latest response to SEC
Tesla CEO Elon Musk’s legal skirmish with the US Securities and Exchange Commission continues, with the executive invoking popular rapper Eminem in a filing submitted to a Manhattan federal court on Tuesday. Musk is currently looking to throw out his 2018 agreement with the SEC, which requires him to get pre-approval for tweets that are of material importance to Tesla.
The recent filing revealed Musk’s renewed efforts at preventing an SEC subpoena for details about whether the CEO and Tesla have been complying with their 2018 consent decree with the agency, especially when he polled his Twitter followers if he should sell TSLA stock last year. While arguing his points, Musk noted in his recent filing that requiring Tesla lawyers to screen his tweets is unconstitutional and a restraint on his free speech. Musk claimed that this violated his First Amendment rights.
“The First Amendment requires that agencies proceed with caution when constitutional rights are at stake, not seek to pursue any and all novel theories that broaden their authority at the cost of individual freedom. Compare Eminem, ‘Without Me’ (2002) (‘The [SEC] won’t let me be or let me be me so let me see / They tried to shut me down . . .’) with Citadel Broad. Co., Mem. Op. and Order, 17 FCC Rcd 483 (2002) (rescinding penalty against radio station for playing Eminem song and noting ‘the First Amendment is a critical constitutional limitation that demands we proceed cautiously and with appropriate restraint’),” Musk’s new filing noted.
For some context, Eminem’s lyrics referenced the US Federal Communications Commission (FCC), which fined radio stations for playing one of his popular songs, “The Real Slim Shady,” which featured themes and lyrics that the FCC considered offensive. The SEC, for its part, has declined to comment on Musk’s recent filing, though considering their ongoing legal skirmish, it would not be surprising if the agency files a response against the CEO in the near future.
Apart from referencing the popular rapper, Musk also argued that the SEC had issued its subpoena in bad faith. The CEO also dubbed the agency’s efforts as a “fishing expedition” of sorts that is aimed at harassing him. “The Formal Order is not an open invitation for any fishing expedition the Commission may wish to pursue, and the Commission errs in assuming that a court may not look behind its veil. To that end, the SEC twice denies that ‘its subpoenas are issued under the consent decree,’ instead stating unequivocally ‘the subpoenas were issued under the authority granted by the Formal Order of Investigation,’” Musk’s filing noted.
Musk and the SEC’s agreement was the result of the CEO’s “funding secured” fiasco in 2018. During the time, Musk attempted to take Tesla private, and he announced on Twitter that funding had been secured for the deal. The SEC accused Musk of fraud over his alleged false and misleading statements. In the end, Musk had to step down as Tesla’s Chairman, and he and Tesla paid a $20 million fine each. Musk did, however, not admit that he misled investors with his “funding secured” announcement.
Musk’s recent filing can be accessed below.
gov.uscourts.nysd.501755.80.0 by Simon Alvarez on Scribd
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Elon Musk
SpaceX issues statement on Starship V3 Booster 18 anomaly
The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX has issued an initial statement about Starship Booster 18’s anomaly early Friday. The incident unfolded during gas-system pressure testing at the company’s Massey facility in Starbase, Texas.
SpaceX’s initial comment
As per SpaceX in a post on its official account on social media platform X, Booster 18 was undergoing gas system pressure tests when the anomaly happened. Despite the nature of the incident, the company emphasized that no propellant was loaded, no engines were installed, and personnel were kept at a safe distance from the booster, resulting in zero injuries.
“Booster 18 suffered an anomaly during gas system pressure testing that we were conducting in advance of structural proof testing. No propellant was on the vehicle, and engines were not yet installed. The teams need time to investigate before we are confident of the cause. No one was injured as we maintain a safe distance for personnel during this type of testing. The site remains clear and we are working plans to safely reenter the site,” SpaceX wrote in its post on X.
Incident and aftermath
Livestream footage from LabPadre showed Booster 18’s lower half crumpling around the liquid oxygen tank area at approximately 4:04 a.m. CT. Subsequent images posted by on-site observers revealed extensive deformation across the booster’s lower structure. Needless to say, spaceflight observers have noted that Booster 18 would likely be a complete loss due to its anomaly.
Booster 18 had rolled out only a day earlier and was one of the first vehicles in the Starship V3 program. The V3 series incorporates structural reinforcements and reliability upgrades intended to prepare Starship for rapid-reuse testing and eventual tower-catch operations. Elon Musk has been optimistic about Starship V3, previously noting on X that the spacecraft might be able to complete initial missions to Mars.
Investor's Corner
Tesla analyst maintains $500 PT, says FSD drives better than humans now
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Tesla (NASDAQ:TSLA) received fresh support from Piper Sandler this week after analysts toured the Fremont Factory and tested the company’s latest Full Self-Driving software. The firm reaffirmed its $500 price target, stating that FSD V14 delivered a notably smooth robotaxi demonstration and may already perform at levels comparable to, if not better than, average human drivers.
The team also met with Tesla leaders for more than an hour to discuss autonomy, chip development, and upcoming deployment plans.
Analysts highlight autonomy progress
During more than 75 minutes of focused discussions, analysts reportedly focused on FSD v14’s updates. Piper Sandler’s team pointed to meaningful strides in perception, object handling, and overall ride smoothness during the robotaxi demo.
The visit also included discussions on updates to Tesla’s in-house chip initiatives, its Optimus program, and the growth of the company’s battery storage business. Analysts noted that Tesla continues refining cost structures and capital expenditure expectations, which are key elements in future margin recovery, as noted in a Yahoo Finance report.
Analyst Alexander Potter noted that “we think FSD is a truly impressive product that is (probably) already better at driving than the average American.” This conclusion was strengthened by what he described as a “flawless robotaxi ride to the hotel.”
Street targets diverge on TSLA
While Piper Sandler stands by its $500 target, it is not the highest estimate on the Street. Wedbush, for one, has a $600 per share price target for TSLA stock.
Other institutions have also weighed in on TSLA stock as of late. HSBC reiterated a Reduce rating with a $131 target, citing a gap between earnings fundamentals and the company’s market value. By contrast, TD Cowen maintained a Buy rating and a $509 target, pointing to strong autonomous driving demonstrations in Austin and the pace of software-driven improvements.
Stifel analysts also lifted their price target for Tesla to $508 per share over the company’s ongoing robotaxi and FSD programs.
Elon Musk
SpaceX Starship Version 3 booster crumples in early testing
Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
SpaceX’s new Starship first-stage booster, Booster 18, suffered major damage early Friday during its first round of testing in Starbase, Texas, just one day after rolling out of the factory.
Based on videos of the incident, the lower section of the rocket booster appeared to crumple during a pressurization test. Photos of the incident’s aftermath suggest that Booster 18 will likely be retired.
Booster test failure
SpaceX began structural and propellant-system verification tests on Booster 18 Thursday night at the Massey’s Test Site, only a few miles from Starbase’s production facilities, as noted in an Ars Technica report. At 4:04 a.m. CT on Friday, a livestream from LabPadre Space captured the booster’s lower half experiencing a sudden destructive event around its liquid oxygen tank section. Post-incident images, shared on X by @StarshipGazer, showed notable deformation in the booster’s lower structure.
Neither SpaceX nor Elon Musk had commented as of Friday morning, but the vehicle’s condition suggests it is likely a complete loss. This is quite unfortunate, as Booster 18 is already part of the Starship V3 program, which includes design fixes and upgrades intended to improve reliability. While SpaceX maintains a rather rapid Starship production line in Starbase, Booster 18 was generally expected to validate the improvements implemented in the V3 program.
Tight deadlines
SpaceX needs Starship boosters and upper stages to begin demonstrating rapid reuse, tower catches, and early operational Starlink missions over the next two years. More critically, NASA’s Artemis program depends on an on-orbit refueling test in the second half of 2026, a requirement for the vehicle’s expected crewed lunar landing around 2028.
While SpaceX is known for diagnosing failures quickly and returning to testing at unmatched speed, losing the newest-generation booster at the very start of its campaign highlights the immense challenge involved in scaling Starship into a reliable, high-cadence launch system. SpaceX, however, is known for getting things done quickly, so it would not be a surprise if the company manages to figure out what happened to Booster 18 in the near future.
SpaceX issues statement on Starship V3 Booster 18 anomaly
Tesla analyst maintains $500 PT, says FSD drives better than humans now
