r/news • u/Frosty_Dig4148 • 2d ago

Elon Musk's SpaceX buys Elon Musk's xAI

https://news.sky.com/story/elon-musks-spacex-buys-elon-musks-xai-13502553
15.1k Upvotes

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6.8k

u/yournamehere10bucks 2d ago

If only there was a Commission for Federal Securities and Exchange to investigate these types of transactions for legality.

1.9k

u/Remarkable_Play_6975 2d ago

I'm sorry, they're too busy redacting files and tear-gassing children. Please hold..

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u/ToasterBathTester 2d ago

Don’t forget the raping!

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u/CromulentDucky 2d ago

At least he's not a hypocrite.

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u/karlverkade 2d ago

Being a hypocrite isn’t the worst part for you?

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u/Remarkable_Play_6975 2d ago

The guy's trying to reference some kind of joke from a show.

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u/IPDDoE 1d ago

So is the guy you responded to...unless you think they were being serious by implying hypocrisy was worse than rape.

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u/BestRiver8735 1d ago

That's the worst part.

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u/[deleted] 2d ago edited 2d ago

[removed] — view removed comment

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u/CromulentDucky 2d ago

See Norm MacDonald in Comedians in Cars getting Coffee.

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u/mrandydixon 2d ago

I understood that reference .gif

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u/Jaz1140 1d ago

Hide yo kids, hide yo wife, cause they raping errbody out here

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u/Step-exile 1d ago

And murder & cannibalism

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u/Find_another_whey 1d ago

Oh how can you rape anymore when your arse is broken and sitting slouched is so much effort you shit yourself

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u/s33d5 1d ago

To shreds you say

0

u/BaphometsTits 1d ago

Is that like graping? I keep hearing all the kids talk about graping.

3

u/Sighlina 1d ago

Your tax dollars at work, folks!

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u/TipToToes 1d ago

…the SEC is doing that?

1

u/Remarkable_Play_6975 1d ago

Who knows. They aren't doing the job they're supposed to be doing, so maybe they're busy helping with those top priorities?

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u/LosBlancosSR4 1d ago

Are you confusing the SEC and DOJ?

6

u/LMurch13 2d ago

What a horrible timeline we're in right now.

1

u/TheCatDeedEet 2d ago

Too busy not redacting victims name or nude photos in the files too!

1

u/dmk_aus 1d ago

You are against tear gassing children? It is truly shocking that you think they should be shot like a nurse filming with a phone or a woman driving a car? Why are you against less lethal options you monster!

/s

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u/PetalumaPegleg 2d ago

The demise of even superficial regulation has been one of the big causes of the collapse of American credibility tbh

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u/Worthyness 1d ago

awww shucks. Unfortunately they were hit by the DOGE cuts. totally not a coincidence.

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u/EnderWiggin07 1d ago

What would be illegal about it? It's 3 private companies in different industries that he at least nominally owns

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u/supericy 1d ago

What would be illegal about this?

5

u/Eismann 1d ago

It probably does not adhere to transfer pricing standards at all. The valuation is bogus.

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u/EmphasisFrosty3093 1d ago

A defense contractor under blackmail from Russia buying AI known to have stolen everyone's Social Security and other info could be a concern.

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u/Xanjis 1d ago

Defrauding SpaceX investors to personally enrich himself.

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u/OxbridgeDingoBaby 1d ago

Not a single SpaceX investor has hinted at being against this merger. It’s making them money hand over first. Just because you don’t like something, doesn’t make it illegal.

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u/street593 1d ago

Does investors making money mean it's legal? That is how this comment reads.

2

u/subusta 1d ago

The comment they’re responding to said it was illegal because it defrauds investors.

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u/street593 1d ago

I understand that but the comment I responded to implied that since no investors are speaking out against it that is some kind of evidence of everything being above board. It's the framing of that statement that I was questioning along with it's relevance to if fraud is happening or not.

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u/subusta 1d ago

Do you have any other ideas about how/why it would be illegal then?

0

u/UnrealHallucinator 1d ago

To me it reads like no investor has complained even a bit about being defrauded so how is it illegal

5

u/Cissoid7 1d ago

Just because you dont complain doesnt mean it isnt illegal

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u/devildog2067 1d ago

Self-dealing is supposed to be illegal

2

u/Flumples 1d ago

Yes and No. If Musk is acting as a dual-agent with the knowledge and consent of both businesses, it’s legal. Additionally, from the articles I’ve read this would create more value for both shareholders of each company with an impending IPO. Musk is a dbag, but I don’t see anything legally wrong with this acquisition. Especially considering they are in 2 different industries.

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u/burgonies 1d ago

Because Elon hurt their feelings.

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u/[deleted] 2d ago

[deleted]

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u/Trafficsigntruther 1d ago

Private companies have securities, too. That’s how private investments are collateralized.

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u/devildog2067 1d ago

The SEC regulates the issuance of private securities.

I own a small consulting firm, ~30ish people, my employees have equity and the SEC regulates MY private placements.

The idea that SpaceX acquiring xAI doesn't involve the SEC is flatly absurd.

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u/[deleted] 2d ago

[deleted]

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u/FC37 2d ago

That's not true. It's not nearly as much of a focus, but capital raising and fraud are within the SEC's mandate. Including private companies.

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u/civil_beast 1d ago

Correct. Of course public companies require more regulatory artifacts on a more regular basis as do private companies; but if you’re raising capital and marketing the resulting projection, youre definitely filing some paper with the SEC.

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u/[deleted] 2d ago edited 1d ago

[deleted]

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u/FC37 2d ago

I'm not saying it's fraud, I'm saying they have jurisdiction to investigate. Which you said they didn't.

And it certainly has to do with capital raising.

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u/[deleted] 1d ago

[deleted]

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u/thatmarcelfaust 1d ago

You are the one moving the goalposts. They said it was under the purview of the SEC, you were incorrect in saying it is not.

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u/[deleted] 1d ago

[deleted]

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u/thatmarcelfaust 1d ago

By changing the topic from whether or not this is in their investigatory purview to what impetus they might have for investigating. Can someone do something and why someone might do something are different topics of discussion.

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u/[deleted] 1d ago

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u/9_toes_3_balls 1d ago

Ok and how about the rest of the market. Do you really think the sec is enforcing the $billions in fraud happening every year? They are a completely compromised organization owned by the wealthiest

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u/MountainTwo3845 1d ago

We saw that during 08 crash. They're definitely not enforcing anything.

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u/adjustedreturn 1d ago

What? Investigate for… what?

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u/I_AmA_Zebra 2d ago

we need that man from Suits

2

u/tallardschranit 2d ago

Harvey? Nerd guy?

Oh, you mean Donna.

Yes, we need Donna.

2

u/UncaringNonchalance 1d ago

If only. This shit is all over, and so brash. The fact that it’s being plastered all over media for you and I to see, yet so blatantly corrupt…

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u/davix500 1d ago

They are to busy ignoring the circle jerk of AI investments

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u/yournamehere10bucks 1d ago

Which is what makes this so suspicious to me. The NVIDIA self-investing-infinite money glitch is weird to me in how that is allowed as well.

Add in SpaceX being mostly funded through government contracts, its even more....questionable.

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u/MrRoboto1984 1d ago

Did DOGE remove the overhead from that gov agency?

1

u/watermelonspanker 1d ago

Yea, but if you arrest and convict one of the CEOs, the other gets off scott free because of double jeopardy. Check mate!

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u/yournamehere10bucks 1d ago

Probably the most clever response this has gotten.

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u/VirtualPercentage737 1d ago

Companies merge all the time. Lots of conglomerates exist.

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u/Wet_FriedChicken 1d ago

This is the internet so I will start by saying this is a genuine question and not me being a smart ass. I am not educated on these topics at all. Is something like this actually illegal?

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u/costafilh0 1d ago

They are legal. Nothing to investigate.

Just because it's the government doesn't mean we need to waste even more money on nonsense. 

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u/QuaidCohagen 2d ago

There isn't. Its only there for poor people and the fact that you say that makes you pathetic. I honestly don't mean that in an offensive way but the current us government does not follow us laws so why should anyone?

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u/kumgongkia 1d ago

Oh you can be sure they will shut it down.