As Elon Musk expands his reach Washington worries HEAD TOPICS

As Elon Musk expands his reach Washington worries

10/23/2022 3:42:00 AM

Already a global powerhouse Elon Musk s meddling in foreign affairs and move to buy Twitter has lawmakers looking for leverage

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The Washington Post

Already a global powerhouse Elon Musk s meddling in foreign affairs and move to buy Twitter has lawmakers looking for leverage Already a global powerhouse Elon Musk s meddling in foreign affairs and move to buy Twitter has lawmakers looking for leverage dominated railroads, oil or a key economic sector, said Richard Haass, president of the Council on Foreign Relations. “But what’s a bit different here is Musk’s ability to project his political agenda and the fact that now that we have technology and media that allows individuals to essentially become their own network or channel,” Haass said. The economic turmoil since the Ukraine war began has dented the fortunes of many people including Musk, whose personal wealth dropped by tens of billions, to about $210 billion, according to Bloomberg’s Billionaires Index.“He shoots himself in the foot all the time. He should not be getting into politics,” said one person who has worked with him for years. Read more:
The Washington Post » Elon Musk believes US already in recession, expects it to last until 'spring of '24' Report: Elon Musk plans to cut 75% of Twitter workforce Report: Elon Musk plans to cut 75% of Twitter workforce U.S. mulls national-security reviews for some of Elon Musk's ventures, including Twitter deal: report

SDPD Releases Body Camera Footage of Deadly Shootout in Southcrest San Diego News Daily

San Diego Police released body camera footage showing the moment officers shot and killed an armed man Tuesday, the sheriff’s department released the names of the two people involved in a fight Thursday, and0 Rady Children’s Hospital says there have been hundreds of RSV cases in the county. Here is San Diego News Daily for Oct. 22, 2022. Read more >> Elon Musk believes US already in recession, expects it to last until 'spring of '24'Billionaire entrepreneur Elon Musk believes the U.S. is already in a recession, and when asked how long he believes it will last, Musk said, 'Just guessing, but probably until spring of '24.' Thoughts? Um we are obviously in a recession. Musk also said a lot of stuff that is wrong in the past few years. Don’t trade fame and wealth for expertise or ability. When Brandon redefines the word 'recession,' and KGUN9 goes along with it, you are part of the Democrat propaganda machine. Report: Elon Musk plans to cut 75% of Twitter workforceElon Musk plans to lay off most of Twitter’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. Report: Elon Musk plans to cut 75% of Twitter workforceElon Musk plans to lay off most of Twitter's workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post. As your office is two miles from theirs, ask yourself why TF didn’t you break that story? AS 👏🏽 HE 👏🏽 SHOULD 👏🏽 U.S. mulls national-security reviews for some of Elon Musk's ventures, including Twitter deal: reportBiden administration officials are considering subjecting some of Elon Musk’s ventures, including his planned acquisition of Twitter, to national security reviews, according to a new report. RED merchant stand with authoritarian regime... The US is a joke 🤡 Elon Musk reportedly wants to lay off 75% of Twitter employeesA new report from The Washington Post details discussions Musk has had with investors about potential layoffs at Twitter. Excellent! He’s got bots doing the work 24/7. Good, maybe i wont get banned anymore Report: Elon Musk plans to cut 75% of Twitter workforceSAN FRANCISCO (AP) — Elon Musk plans to lay off most of Twitter’s workforce if and when he becomes owner of the social media company, according to a report Thursday by The Washington Post . is his web of overseas holdings and foreign investors, including his massive Tesla factory in China, and possible leverage others could have over Musk if he controls a platform where some users have spread misinformation and ratcheted up political divisiveness.Billionaire entrepreneur Elon Musk believes the U.prospective investors in his Twitter purchase  that he plans to cut nearly 75% of Twitter’s employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report.Twitter headquarters in San Francisco, California,  David Paul Morris/Bloomberg via Getty Images Musk has told prospective investors in his Twitter purchase that he plans to cut nearly 75% of Twitter's employee base of 7,500 workers, leaving the company with a skeleton crew, according to the report. As a U.S. is already in a recession, and when asked how long he believes it will last, Musk said,"Just guessing, but probably until spring of '24. defense contractor, Musk has been vetted, but several top officials said they wanted a more thorough review, including any expansion plans in Russia and China. While job cuts have been expected regardless of the sale, the magnitude of Musk’s planned cuts are far more extreme than anything Twitter had planned. Warren and others have called his Twitter purchase a “danger to democracy. As Fortune reported, Musk believes that while recessions are painful, they serve the purpose of rooting out bad business ideas and cleansing markets of bad investments.” Washington has dealt before with powerful tycoons who dominated railroads, oil or a key economic sector, said Richard Haass, president of the Council on Foreign Relations. "A 75% headcount cut would indicate, at least out of the gates, stronger free cash flow and profitability, which would be attractive to investors looking to get in on the deal," said Wedbush analyst Dan Ives. “But what’s a bit different here is Musk’s ability to project his political agenda and the fact that now that we have technology and media that allows individuals to essentially become their own network or channel,” Haass said. Musk expressed an aversion to the actions of the U. “That said, you can’t cut your way to growth. Because Musk has business investments in China, and, according to Russian and other news reports, said last year at a Kremlin-sponsored event for students that he was planning one in Russia, several top U.S. central bank and said he agrees with Wharton finance professor Jeremy Siegel. government officials wonder if Musk’s business interests affect his views on foreign affairs. With as drastic a reduction as Musk may be planning, the platform could quickly become overrun with harmful content and spam — the latter of which the Tesla CEO himself has said he’ll address if he becomes owner of the company. Advertisement The economic turmoil since the Ukraine war began has dented the fortunes of many people including Musk, whose personal wealth dropped by tens of billions, to about $210 billion, according to Bloomberg’s Billionaires Index.S. After his initial $44 billion bid in April to buy Twitter, Musk backed out of the deal, contending Twitter misrepresented the number of fake"spam bot" accounts on its platform. Two people who know him well said Musk is impulsive and that makes him say things that harm his own interests — a tendency that makes it difficult for government officials to count on Musk. Musk himself has said he has Asperger’s syndrome, a form of autism, and no one should expect him to be a “chill, normal dude.S. Otherwise, there will be a trial in November.” “He shoots himself in the foot all the time. He should not be getting into politics,” said one person who has worked with him for years. Musk said, “Siegel is obviously correct. “I have been as shocked as anyone these last few months at some of the things he has waded into,” said Lori Garver, former deputy administrator at NASA. Most Read. She worries about the consequences. SpaceX restored U.S. leadership in space, but his politically charged comments attract critics who are starting to ask, “Why is taxpayer money going to this billionaire?” “It’s disappointing,” she said. Shifting power Musk set his sights on D. C. 20 years ago. A South African who moved to Silicon Valley, Musk became a U.S. citizen in 2002 — the year he used his payment from the sale of PayPal, the electronic payment firm he helped found, to start SpaceX. It was a big risk, and he needed high-dollar government contracts to survive. In early 2003, Musk announced he would have a “significant presence” in the nation’s capital so that he could build a “close working relationship with the federal government.” Advertisement He invested in Tesla around the same time and soon took over running it, tapping into financial subsidies and tax credits Washington was offering to wean the country off gasoline. California alone gave Tesla $3.2 billion in subsidies, according to figures provided by the office of California Gov. Gavin Newsom (D). A review of public disclosure forms show that for brief periods of time, Musk hired dozens of lobbyists, many of them former staff members of powerful members of Congress. Rohan Patel, who worked on energy and transportation in the Obama White House, runs Tesla’s regulatory and legislative affairs in Washington. SpaceX has spent more than $22 million to lobby Washington over the years, according to OpenSecrets, a research group tracking money in politics. Musk, himself, proved a savvy political operator. He flew into Washington 40 times between 2008 and 2013, according to flight records obtained by Musk biographer Ashlee Vance. He knocked on doors and invited officials to breakfast. Advertisement When backroom persuasion didn’t get results, he learned that publicity helps. On a sunny Wednesday in June 2014, Musk parked his new “space taxi” a few blocks from Capitol Hill. He had hauled the capsule designed to carry seven astronauts into orbit across the country from his California factory and invited TV cameras, along with government officials, to check it out. “Great job, Elon!” yelled Dana Rohrabacher, a Republican member of Congress, as he climbed out of the sleek spacecraft. Democrats applauded, too, that day. Musk was beaming. He was about to get richer. The United States then relied on Russia to carry American astronauts to the International Space Station, paying Moscow tens of millions of dollars for each seat. Musk promised he would put an end to that and rebuild the American space program. Obama was in the White House and wanted to let private companies like SpaceX try. Weeks after Musk brought his space taxi to D.C., NASA awarded him a $2. 6 billion contract. Advertisement Musk also pursued Pentagon contracts and found public confrontation helped. In a sparsely attended Capitol Hill hearing in 2014, he made headlines by slamming the joint venture between aerospace giants Lockheed Martin and Boeing that supplied rockets to the Air Force. He called it a “monopoly” and said it was vastly overcharging taxpayers. “Elon was saying, ‘Give me a chance,’ ” said Scott Pace, a former NASA official who spoke at that hearing. The Pentagon did, and Musk delivered. His game-changing, partly reusable Falcon rockets were considerably less expensive. Now, just eight years later, Musk is the goliath of the space industry. And Musk’s success has shifted the dynamic with Washington. Democrats are more vocal on the need to rein in Musk. House Minority Leader Kevin McCarthy (R-Calif.) calls Musk “my good friend,” and Musk spoke at his August fundraiser. In June, Musk, who recently moved from California to Texas, announced he voted for Mayra Flores in a congressional primary — and said it was the first time he voted for a Republican. He also bashed Democrats as too extreme and too controlled by unions and publicly predicted a “massive red wave” in November. But some Republican lawmakers are skeptical Musk’s new coziness with the GOP will last. “He’s another bullshit artist” is how former president Donald Trump described Musk at a July rally in Alaska. A rare area of bipartisan agreement is that for certain vital issues, especially national security, the United States should not depend on any one person or company, and the federal government is making moves to lessen dependence on Musk. NASA has funded Boeing’s Starliner capsule to compete with SpaceX to transport astronauts. (Blue Origin, which is owned by Jeff Bezos, who also owns The Washington Post, is also a competitor for NASA contracts.) NASA officials said Starliner’s delays and higher cost show why SpaceX is so dominant. “But still, we need a second option,” said one influential member of Congress. The Federal Communications Commission in August decided it would not give SpaceX’s Starlink — which is now operating in 40 countries — a $900 million subsidy to bring broadband to rural areas even though that money had been provisionally granted in the waning days of the Trump administration. The FCC said the $600 satellite dish a home would need to purchase from SpaceX was a factor. A top SpaceX official called the rejection “unreasonable” and “grossly unfair.” Congress also has been encouraging Ford and other automakers to build electric cars. A new condition on a federal $7,500 rebate is that the price of the new car cannot top $55,000. Most Tesla models cost more. But Musk will be eligible for many subsidies and incentives, including for his electric charging stations. He just announced his Superchargers are now in 46 countries. Musk hates “a false narrative out there that he is a grifter who survived off government handouts,” said Eric Berger, author of"Liftoff,” a history of SpaceX. “He sees the government as a double-edge sword,” Berger said. It can help but its bureaucracy slows him down. “He is really frustrated by the dizzying array of federal agencies that he has to deal with — and the bigger he gets the more there is.” “Those bastards” is how Musk refers to officials at the Securities and Exchange Commission. The SEC fined Musk and Tesla $20 million each after Musk tweeted that he had “funding secured” to take Tesla private at $420 a share, after finding that was not true. The SEC is also now investigating Musk in connection with his bid for Twitter, including whether he complied with disclosure laws. Musk’s lawyer told a judge that the SEC was trying to “muzzle and harass” the businessman because he is an “outspoken critic of the government.” Musk believes Tesla’s driver assistance system will save many lives and has said he is irritated by the publicity around the federal safety investigation into his Autopilot system. But government officials say it’s worth looking into whether the self-driving system was a factor in crashes, including some that were fatal. Avoiding confrontation Few want a head-on confrontation with Musk. Biden got into one after Musk was not invited to a White House conference on electric vehicles in August 2021. Musk tweeted that the snub was the “next level of insanity,” and that Biden was controlled by unions. Musk also has been drawing attention to any Biden misstep, including when he mistakenly read instructions meant only for him on his teleprompter. Apart from not wanting to get on his bad side, many in Washington admire his accomplishments and want to work with him. At the Pentagon, there are many who see Musk as a secret weapon. His Starlink satellite systems mean Ukraine soldiers have real-time information about military targets, and other countries are looking at how it can help their defense efforts. In April, the White House said Musk was invited to a discussion about electric cars and charging stations and did make an appearance by teleconferencing. “We used to be on the same page. Now, we are not always. It’s great when we are,” said one member of Congress. “One thing is clear: Musk believes he knows best, and he will do whatever he wants — and that can be good and it can be bad.” Meanwhile, Musk is also working on an ever-growing number of ventures, from building robots that can cook dinner to plans for colonizing Mars. Lepore, the historian, said Musk’s power is not like anything the country has seen before. “We should be worried, not because it’s inevitable that his influence would be malignant, but it’s inevitable that it would be a huge influence.” .