"I Was Not On Weed": In Tearful Interview, Musk Admits Nobody Reviewed Going Private Tweets
In a rare, hour-long interview with the New York Times, in which the increasingly unstable Tesla CEO "alternated between laughter and tears", Elon Musk provided a unique glimpse into his mind, confirming just how fragile and combustible everything inside of it is right now.
"This past year has been the most difficult and painful year of my career. It was excruciating" a tearful Musk said, apparently forgetting all those documented trips to London, Brazil, Australia, Grimes in tow, to party and blow off steam.
But while Musk may have had his share of self-created turmoil, most of it dutifully recorded on his own twitter account, it all blew up in his face when he abruptly declared on Twitter on August 7 that he had arranged to take Tesla private "funding secured." The episode kicked off a furor in the markets and within Tesla itself, launched an SEC probe, and speaking to the NYT, Musk even acknowledged "that he was fraying."
Case in point: at multiple points in the phone interview with The NYT, Musk "choked up, noting that he nearly missed his brother’s wedding this summer and spent his birthday holed up in Tesla’s offices as the company raced to meet elusive production targets on a crucial new model."
Asked if the exhaustion was taking a toll on his physical health, Mr. Musk answered: “It’s not been great, actually. I’ve had friends come by who are really concerned.”
Much of the interview was a "self-pity party", as Musk hopes to garner sympathy points from readers as well as the SEC: he said he had been working up to 120 hours a week recently — echoing the reason he cited in a recent public apology to an analyst whom he had berated. In the interview, Mr. Musk said he had not taken time off of more than a week since 2001, when he was bedridden with malaria.
“There were times when I didn’t leave the factory for three or four days — days when I didn’t go outside,” he said. “This has really come at the expense of seeing my kids. And seeing friends.”
Perhaps, but what the SEC will be mostly focused on is Musk's admission, and latest revision to the "going private" narrative, that no one saw or reviewed his tweet about the plan to take Tesla private before he posted it.
Musk provided a "detailed timeline" of the events leading up to the Twitter postings on Aug. 7 in which he said he was considering taking the company private at $420 a share. He asserted that he had “funding secured” for such a deal, which it has since emerged was a fabrication, and potential market fraud with the sole intention of "burning shorts."
That morning, Mr. Musk woke up at home with his girlfriend, the musician known as Grimes, and had an early workout. Then he got in a Tesla Model S and drove himself to the airport. En route, Mr. Musk typed his fateful message.
https://www.zerohedge.com/news/2018-08-17/i-was-not-weed-tearful-interview-musk-admits-nobody-reviewed-going-private-tweets