His SolarCity lawsuit will be just another photo op
It’s July 13th, 2021, and Tesla CEO Elon Musk wanders nonchalantly from Delaware’s Court of Chancery to his personal Model X. He’s just taken to the stand to defend the EV company’s $2.6 billion acquisition of SolarCity back in 2016, after some of Tesla’s shareholders filed a lawsuit against him.
They claimed the merger possessed major conflicts of interest with the Musk family and that it had failed to deliver the profits Musk had promised.
Well, that’s because, contrary to the accepted narrative, the SolarCity merger was more of a bailout than an acquisition. It was a last-ditch attempt by Musk himself to save his companies from total bankruptcy. By creating a phoney solar shingle and presenting it to Tesla shareholders on the day before the proposed merger was set to go through, he persuaded them to approve it.
Yet the mass media, minus a few publications, declined to report that Musk had used a sham product demo to bail out multiple failing ventures. This, of course, enabled his ascent to stardom, effectively becoming the greatest vaporware salesman in modern history.
Consequently, anyone who understood what really happened that day has been subjected to a cringe-fest ever since. We’ve witnessed Musk make ever crazier promises he’s never delivered on. His proposed 150 mph Hyperloop and disease-curing “brain-machine interface” resulted in nothing more than an LSD disco tunnel and futuristic snake oil. It’s this overpromise, underdeliver scheme that has allowed Musk to become an unstoppable force, one backed by multiple global powers from the U.S. elite to the CCP.
So the likelihood of a deep multi-establishment figure, like Musk, facing punishment for past misdeeds remains next to nothing. This SolarCity acquisition lawsuit will prove to be just another reverse show-trial, a kangaroo court, and nothing more. Elon knows he’s immune to genuine scrutiny and discipline, and no justice will be served.
Now that Theranos’s Elizabeth Holmes is out of the picture, Musk has become crony capitalism’s chief beneficiary. He’s the vaporware emperor who has no clothes, but the bogus “visionary tech genius” narrative surrounding him will, and must, prevail. The U.S. establishment needs to prop up the Muskian empire. It distracts poor and impoverished citizens from rising inequality in America by reassuring them that innovation and prosperity are reaching new heights. Which, according to fellow vaporware enthusiast, Richard Branson, and his “space flight”, is apparently only 264,000 feet.
Greg Barker is an independent journalist and quant, who also writes under the name Concoda. You can find him on Substack and Twitter at @concodanomics.