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Ex-SEC Chair advises Tesla’s Elon Musk to cease attacking the agency: “Stop acting like a child”

Credit: TED/YouTube

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Elon Musk’s dislike for the United States Securities and Exchange Commission has been out in the open for several years now, but in a recent interview, former SEC Chairman Harvey Pitt opted to share some choice words with the Tesla CEO. Pitt noted that Musk’s tendency to attack the SEC is “immature and narcissistic.” 

Musk is currently looking to purchase Twitter, though the social media company’s Board of Directors has enacted a “poison pill” strategy in an attempt to stop the takeover attempt. Musk’s journey from a Twitter investor to a person attempting to acquire the entire company was not without controversy, however, as his filings with the SEC while he was acquiring his 9.2% stake in the company were late. 

In an interview with Yahoo! Finance, former SEC Chairman Harvey Pitt stated that while Elon Musk certainly does not have to like the agency, his dislike for the SEC is just “plain stupid.” When asked by the program’s hosts how he would have dealt with Musk if he were still running the SEC, Pitt noted that he believes the Tesla CEO is his own worst enemy. 

“Mr. Musk hates the SEC, and that is his constitutional right. He does not have to like the SEC. But his tactic of thwarting them, attacking them, and so forth is just plain stupid. It doesn’t get anyone anywhere. It’s childish, it’s immature, and it’s narcissistic. I believe he is his own worst enemy. He is obviously a man of great imagination. He has great ideas and concepts. But he needs to stop acting like a child and start acting like an adult. That is the mistake he continues to make with his dealings with the SEC,” Pitt said

The Tesla CEO’s dislike for the SEC has been front and center as of late, especially following the executive’s TED interview last week. Musk took the time to clarify during his interview that he really had funding secured in 2018 when he was attempting to take Tesla private. Despite knowing this, Musk noted that the SEC decided to pursue an active public investigation anyway. And with banks pushing him to settle with the SEC, Musk noted that he had to concede to the agency. The CEO likened the situation to someone having a gun to the head of their child. 

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“I should say, originally with Tesla back in the day, funding was actually secured. I want to be clear about that. In fact, this may be a good opportunity to clarify that. If funding was indeed secured and, I should say, why do I not have respect for the SEC in that situation? And I don’t mean to blame everyone at the SEC, but certainly the San Francisco office. Because the SEC knew that the funding was secured, but they pursued an active public investigation nonetheless.

“At the time, Tesla was in a precarious financial situation. And I was told by the banks that if I did not agree to settle with the SEC that they would cease providing working capital, and we would go bankrupt immediately. So that’s like having a gun to your child’s head. So I was forced to concede to the SEC unlawfully. Those bastards. And now it makes it look like I lied when I did not, in fact, lie. I was forced to admit that I lied to save Tesla’s life. And that’s the only reason,” Musk said.  

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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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SpaceX is in talks with another potential Starlink partner in India

Vodafone explores SpaceX Starlink partnership to boost rural internet in India! Rivals Bharti Airtel & Jio are already on board.

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(Credit: SpaceX)

SpaceX is in talks with another potential Starlink partner in India: Vodafone Idea Ltd. The Indian telecom company has not confirmed a partnership with SpaceX to offer Starlink internet services to its customers.

“We are in exploratory talks with various Satcom providers, including Starlink,” commented Vodafone.

Vodafone Idea’s share price was up by 4.93% on Wednesday after news spread that the telecom company was talking with SpaceX about Starlink internet services. However, Vodafone clarified that its talks with SpaceX are a routine business strategy to continue enhancing the quality of its services and expand its telecommunication offerings.

Vodafone is talking with multiple Satcom providers at the moment, not just SpaceX. The company’s Chief Technology Officer, Jagbir Singh, noted that satellite services could help Vodafone expand its fixed and mobile networks to areas that traditional infrastructure can not reach. He added that the telecom company aims to offer fixed wireless broadband in rural areas and small towns.

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Two of Vodafone’s rivals in India have already inked deals with SpaceX to offer Starlink services, namely Bharti Airtel and Jio Platforms.

Despite the agreements with Bharti Airtel and Jio Platforms, SpaceX’s Starlink has not received regulatory approval to operate in India. As of November 2024, Starlink India had only one box to check in order to receive approval. It needs to fully comply with the Indian government’s security regulations, specifically related to data storage.

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Tesla attacks deemed a ‘federal crime’ by FBI after Las Vegas fire

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Credit: Patrick Bean | X

Tesla attacks have been deemed a federal crime by the FBI’s Las Vegas Field Office after several Tesla vehicles were shot at and set on fire in Sin City.

“To those who might think that something like this is justifiable or potentially even admirable, we want you to know this is a federal crime,” commented Special Agent Spencer Evans, who is in charge of the FBI’s Las Vegas Field Office.

Surveillance footage from the Las Vegas Tesla attack revealed a person dressed in black clothing shooting at the electric cars and then setting them on fire with Molotov cocktails. One Molotov cocktail, which failed to explode, was found inside a Tesla vehicle and is currently being examined as evidence.

Fortunately, no one sustained any injuries in the Las Vegas Tesla attack. The fire department that responded to the fire was able to extinguish the fires before they could reach the Tesla batteries.

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According to Assistant Sheriff Dori Koren from the Las Vegas Metropolitan Police Department, several 911 calls were made at around 2:45 am. The calls reported a fire at a Tesla facility.

“Officers discovered several vehicles on fire as well as the word ‘Resist’ spray-painted on the front doors of the business,” Asst. Sheriff Koren told CNN.

The Tesla Las Vegas fire is the second case under FBI investigation. The FBI Seattle Field Office is investigating Tesla attacks in their area after March 11, when six Tesla Cybertrucks were spray-painted with swastikas and profanity.

Tesla attacks across the United States have become more common and are often tied to Elon Musk’s political activities. While the attacks are meant to hurt Tesla, the company, it has actually hurt people and other car owners more. A few non-Tesla cars have also been damaged in the attacks due to their proximity.

“You’re not hurting Elon, I already purchased the truck. You’re hurting people that work for a living, and that’s extremely wrong. You want to make a political statement? Go and protest in front of dealerships; that’s fine. That’s your right. But to vandalize people’s property with hate symbols?” commented one Jewish Tesla owner, whose Cybertruck was marked with a Swastika.

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Tesla receives its first robotaxi permit in California

Tesla’s robotaxi services are one step closer to making it to California.

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Credit: Tesla

Ahead of Tesla’s plans to roll out a fleet of commercial robotaxis, the company has gained its first permit in a series of those needed to begin operating driverless ride-hailing services in California.

On Monday, the California Public Utilities Commission (CPUC) announced the approval of Tesla’s application for a charter-party carrier permit, which licenses the company to run ride-hailing and chauffeur services in the state, according to a report from Reuters on Tuesday.

The permit allows Tesla to own and operate a chauffeur fleet for certain commercial purposes, including the ability to transport employees across pre-arranged navigation routes. However, this permit does not yet offer full approval for ride-hailing or autonomous vehicle use.

Still, the permit comes as the first in a series of those Tesla will need to launch a highly-anticipated autonomous robotaxi business, which is expected to begin rolling out in Texas and California this year. Tesla also released its two-seat, steering wheel-less Cybercab at an event in October, eventually expected to be the basic fleet vehicle for driverless ride-hailing purposes.

You can see Tesla’s render for a ride-hailing mobile app below, along with Teslarati’s coverage of the October 10 “We, Robot” unveiling event for the Cybercab.

Credit: Tesla

READ MORE ON TESLA’S ROBOTAXI BUSINESS: Tesla flexes Robotaxi wireless charging — autonomy from top to bottom

In California, the CPUC will also co-manage regulatory needs for autonomy approval for Tesla, alongside the Department of Motor Vehicles (DMV).

During Tesla’s Q3 earnings call last November, Elon Musk said that Tesla employees in the Bay Area were already testing a ride-hailing service internally. Using an app, Musk said employees could already request rides and be taken to anywhere in the Bay.

Meanwhile, Tesla is aiming to roll out initial unsupervised rides as a service in the Austin, Texas area this summer, based on its Full Self-Driving (FSD) software. The system is first expected to be usable on individual owners’ vehicles, eventually using the recently unveiled Cybercab autonomous vehicle on a wider scale.

Tesla also hopes to expand the service to other states by the end of the year, though it’s not yet clear where.

Tesla mobile app tracker reports first lines referencing robotaxi service

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