Wall Street Times: Musk vs. U.S. regulators

Musk is in constant conflict with numerous U.S. government agencies, but Musk always comes out the winner.

Wall Street Times: Musk vs. U.S. regulators

According to an article in the Wall Street Times, Musk, who has been revered by investors in recent years for his innovative style, has clashed with numerous U.S. government agencies, but in a series of conflicts with these agencies, Musk has always come out the winner.

The authors of the article note that numerous regulators have also been concerned about Musk’s attempts to circumvent regulations or ignore enforcement initiatives, with financial market regulators and regulators responsible for safety in the workplace, road traffic and aerospace sectors all losing in past matchups. Multiple federal regulators have said Musk violated legal requirements and threatened public safety. Musk, on the other hand, backtracked, calling the regulatory authorities’ approach a drag on the progress of the times, while he adopted a different strategy to avoid regulatory regulations being a stumbling block to his progress.

The article re-presents Musk’s head-to-head encounters with law enforcement agencies from a variety of perspectives, including public discourse, the SpaceX explosion, the superfactory inspection incident, and Tesla’s fatal traffic.

In terms of public discourse, Musk is a particular maverick, even compared to other Silicon Valley giants who have long been unhappy with regulators. Rather than opting for mutual accommodation in his dealings with regulators, Musk’s usual approach has been to make derogatory and sometimes vulgar public statements via Twitter. The U.S. Securities and Exchange Commission (SEC) had requested information on whether Tesla was censoring the public messages he posted, as required by a 2018 court settlement agreement with Musk. But the billionaire responded last summer with a vulgarly worded and clearly insinuating tweet on Twitter, “SEC, an acronym for three words with Elon’s (the middle word).” Asked to comment on some specifics of the article, Musk replied with a “poop” emoji. When asked to elaborate, Musk declined to comment on his interactions with federal agencies or his views on regulation. In an April 27 tweet, Musk said he agrees with regulators in “99.9 percent of cases. But he added that disagreements are “almost always over new technologies that are unforeseen by outdated regulations.”

Nathan Weiss, an independent research analyst who has long followed Tesla, said Musk’s fans see him as a “freedom fighter” and cheer him on.

After the FAA asked SpaceX to postpone a launch scheduled for January, Musk accused the agency of slowing development progress and said its regulatory rules were outdated. “These regulations are for a small number of non-recoverable launches at government facilities each year,” Musk wrote on Twitter on Jan. 28, “Under these regulations, humans will never get to Mars.” The FAA chief called to caution Musk that he must comply with FAA regulations.

Tesla also refused a request from U.S. Occupational Safety and Health Administration (OSHA) officials to enter its Nevada superfactory (Gigafactory) for a site inspection after an accident at the plant. Nevada OSHA obtained an administrative enforcement order from a judge on May 20, 2019, allowing for a full inspection of the Tesla Superfacility. Despite holding the executive order, a Tesla executive denied them access to the factory.

“They’re hard to deal with, and that’s how they treat us.” The deputy sheriff said.

One of the more high-profile issues Tesla is currently facing involves its advanced assisted driving feature called Autopilot. The system has come under regulatory scrutiny several times because it has been linked to a series of crashes. After a fatal crash in Florida in 2016, the National Transportation Safety Board found that Tesla’s Advanced Assisted Driving technology, a system that allows drivers to take their hands off the wheel for extended periods of time, was involved in the crash.

As a genius who could program and write games to make money at age 9, wrote extremely well-developed business plans for supercapacitors (the core technology of electric sports cars) and solar power (all cutting-edge technologies at the time) while attending Wharton, reinvented the electric car, and planned to send people to Mars in rocket ships, how could he be a calm and normal guy?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/wall-street-times-musk-vs-u-s-regulators/
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