Well, Elon Musk was rejected again. regarding the Twitter Elon Musk had tried to meet with the head of the good old FTC. this is an organization and Twitter has had a long history with. Back in 2011, there was an investigation into Twitter about privacy concerns by the FTC, the Federal Trade Commission and apparently Twitter paid a 150 million dollar fine.

That's a massive amount of money, mind you. 150 million dollar fine over alleged violations of a settlement that Twitter had with the FTC in 2021. Now that agreement was expanded to prohibit a Twitter from using certain data like targeting ads. However, a former Chief security officer at Twitter whistleblue Twitter and basically brought the FTC right back into investigating Twitter.

Now Elon Musk is taking a very business-like approach, which is all right. Look, if we've got a problem with the FTC, let's set up a meeting with the head of the FTC and if we set up a meeting with the head of the Ftc, then maybe we can get to the bottom of what the actual problem is. Well, unfortunately, the head of the Ftc rejected Elon Musk from meeting her instead of actually providing any kind of communication to Elon Musk. Her response was simply no thanks.

Go ahead and comply with our regulations and then we'll consider meeting with you. That's because right now the Ftc is actually taking potential enforcement action against Twitter multiple cases from the FTC against Twitter to investigate their compliance with trade laws. Now, what's really interesting over at the Ftc is the fact that it's become a little bit of a hotbed in terms of potential polarization. And the way to potentially look at this is by examining the letter from the former Commissioner of the FTC who resigned at the beginning of this month just March 2nd of 2023, the previous Commissioner of the FTC bailed out.

Now this is interesting, so let's go ahead and put this up on screen here: I'm not sure how we're going to go ahead and do that I believe if I push this button this button. Ah yeah, this is very nice. Okay, good. and then I can throw this button on.

Oh, look at the travel. Studios Kicking butt. By the way, if you like the way I can set up this travel Studio A lot of this is actually thanks to Stream Yards. So big shout out to Stream Yard.

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Give them a give them a check out I Think you'll really enjoy them. So anyway, take a look at this particular letter here. This is the former Commission Commissioner of the FTC and what do they have to say? They talk about how they're on their third tour of Duty at the agency and they believe in this agency is The Little Engine That Could But unfortunately it seems that after the Biden Administration took over, some things started to fall apart at the FTC. Remember, this is a Federal Trade Commission.

For example, the Trade Commission has very particular rules such as when I get potentially paid to say go to Metcaven.com streaming go I should potentially also throw up this little Banner here which says paid promotion hey look I fixed the spelling uh Anyway, so the FTC here says in Uh 2020, 87 of responding employees agreed that there are high standards of honesty and integrity. In 2020, 83 percent of FTC employees agree that there was a high level of respect, and in 2020, 80 of FTC respondents agreed that senior leaders generate high levels of motivation and commitment in the workforce. Well, unfortunately, after the Biden Administration took over, those numbers almost halved in 2021. High levels of standard and honest standards for honesty and integrity fell to 53 and 21 49 and 22.

High level of respect fell from 83 percent to 49 and 44 for 2122 and generating high levels of motivation fell from 80 to 42 and 21 and 36 in 2022.. in other words, the FTC here is making Uh or the former FTC chairperson or Commissioner here is making the argument that look, whatever happened since Joe Biden came in and suggested that we were going to sort of minimize. some of the divisiveness in our culture has actually reduced the efficacy of our agency's trust in each other. If anything, it's become more divided and at the same time less motivated.

In fact, they go as far as saying that in 2020, the FTC brought 79 consumer protection actions, but in 2021, that number declined by more than half to just 32.. the number did increase in 2022 to 46, but still well below the 79 actions taken in 2020.. here, the Commissioner is really arguing the FDC is becoming less functional for some reason, whatever the reason is, But as soon as the Biden Administration took over under that leadership, whatever happened, whether it was the political environment whether it was Biden Administration nobody knows exactly whom to blame, But for some reason, this commissioner is resigning under the argument that the FTC is becoming much less efficacious. In fact, they say that fraudsters doubled down in 2022 and consumers reportedly lost 8.8 billion dollars to fraud, an increase of more than 30 percent from the previous year.

Yet the FTC took a fraction of the actions that it previously did. And as a result, for the sake of the American people, Mr President I wish you success in the remainder of your tenure and I implore you to closely examine the developments of the Federal Trade Commission to ensure that your vision of a return to normalcy is being implemented with care. This person by the way is Uh was is not very excited about the new commissioner. Mrs Khan Mrs Khan was appointed by the Biden Administration and Mrs Khan is actually the individual who rebuffed Elon Musk from a meeting suggesting ah, well deal with the enforcement action first and then we'll go ahead and consider any kind of commentary from you Mr Musk.

Now what I think is really interesting about this is usually what you find when you have an agency investigating uh, somebody like an Elon Musk. You usually have bureaucrats who are doing the best possible job that they can, but they are bound by bureaucratic processes and entrepreneurs generally don't mesh with bureaucrats. That is nothing to say that bureaucrats are bad people. It's not to say that entrepreneurs are bad people, it's just to say it's literally like trying to put a square peg in a round hole.

It just does not work Entrepreneurs look at, Look, what's the problem. Let's figure out how we can solve the problem and let's just implement it the next day. If that means we have to flip-flop If that means we have to change our mind If that means people have to get fired, If that means things have to be broken to get it right, that's what we're going to do, because ultimately, the goal of an entrepreneur is to make sure that the Enterprise makes as much money and provides the best value possible to its users. The best money is important for not only its employees, but also its shareholders.

And of course, providing the best value is important for society. However, of course we do have regulation and the role of a bureaucrat is to say that. Well, that's fine. You can have the motivations of providing the most value and providing the most shareholder value.

so consumer value and shareholder value. but we have to do so within the scope of our rules. And if the scope of our rules are ones that suggest you must do things a certain way and you must meet our check boxes, then we're going to continue to bug you until you complete our check boxes. And Elon Musk is trying to essentially suggest yeah, I'm just going to try to go to the Commissioner here and maybe we can just work this out.

and quite frankly, that is very common for an entrepreneur. An entrepreneur who goes and pounds the table at like the City Building and Safety office and says I want to talk to the manager usually actually doesn't get very far with bureaucracies. You have to earn your respect from the bottom up, not from the top down. which in entrepreneurship you get much more sort of a top-down style of governance.

In bureaucracies, you have to earn it from the bottom up. Everyone at the bottom has to like you for the next levels to like you and the next levels to like you, the next levels to like you. And it's hard because you basically have to please every bureaucrat along the way, because all it takes is one bureaucrat really hating your guts and you're screwed, right? So I mean that's just the nature of government, but uh, Elon Musk clearly exhibits his frustration over this. and uh, and and so you could see uh, potentially the the failing of the FTC here and really doing anything based on what the FTC is suggesting here, even though they're investigating Twitter Is it possible that they might get less done under this new commissioner whom the Biden Administration appointed because of the internal strife of the at the FTC Yes.

Could that sandbag Elon Musk even more? Absolutely. And I Think that's an important takeaway here is that the more Elon Musk gets sandbagged by Regulators the more risky it is that Twitter ends up losing money and the more risky it is that Elon Musk ends up having to sell Tesla stock to support Twitter Now keep in mind: Elon Musk has made a quote-unquote promise. He has obviously the right to change his mind. Quote: Unquote Promise not to sell Tesla stock into a Tesla stock in 2023 I Personally believe that Elon Musk's selling of Tesla stock 24 million dollars in 2022 was exactly why Tesla plummeted to the core of the Earth at 105 at a low and as soon as we had tax loss harvesting in December which Amplified that effect along with shorting and then that flip-flop of short covering along with re-entering in in January, we've seen a recovery that can all change if Elon Musk is forced to sell again.

That's why I personally actually am paying attention to what's happening with Mrs Khan and the FTC I Want to pay attention to this mostly because I am exposed as a Tesla shareholder and so I'm going to watch what The Regulators are doing with Twitter because unfortunately, the nature of Regulation is one that does not play nice with entrepreneurs. Regulators Do not like people who are Trailblazers Dare we say when you hear the word Trailblazer Try not to think of the car, Try to to think of somebody who's doing something that that just isn't It doesn't have a clear precedent, yet. To some extent, crypto is like that with the Security and Exchange Commission or even the commodity future Trade Commission Neither agency really knows who has the power to regulate crypto, and Congress isn't going to do anything to suggest anything either direction. So the only way the Cftc and the SEC can actually get to the bottom of what their role should be is by basically asking the court systems to decide.

So it's very understandable for the SEC and the Commodities future trading commission, probably to file endless more lawsuits for crypto related claims, because really, they're trying to in some extent find their place via the judicial system telling them what to do. and it's possible that the FTC will do the same thing with Twitter which unfortunately becomes very expensive and very painful. So I think that's something to keep in mind as an investor in. Tesla Keep in mind also that uh, there were a lot of news organizations and and even, uh, um, prolific athletes who are suggesting they are not going to pay for Elon Musk's blue check mark for example LeBron James suggests he is too cheap to pay for the blue check mark, but you also have other agencies as well suggesting this I mean LeBron James though somebody who's worth somewhere around a billion dollars, which makes this pretty incredible.

But beyond that, the LA Times the New York Times The Washington Post BuzzFeed Vox political CNN All those agencies, by the way, lean slightly left, all of them suggesting no, we don't want to pay for a blue check mark. Absolutely not. We won't pay for a blue check mark. screw the blue check mark and so it's kind of interesting because it's going a little counter to Elon's plan to to monetize.

Twitter Keep in mind also that in recent filings, uh, you've had Elon Musk value Twitter At about 20 billion dollars, Which is less than half of the previous 44 billion valuation that Twitter had. It puts it at about 45 to 46 percent. uh, of the valuation, my hair is a mess right now and I apologize for that. It's bothering me I'm trying to fix it, but then again, I can't even really see it.

myself. Who cares? And I don't know why I'm getting distracted by that. So if any of this makes you nervous, remember, you can always get life insurance in as little as five minutes. You can also get 12 free Stocks by going to Metcaven.com Weeble And you can use Buy Now Pay Later to make sure that you see.

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