How Elon Musk could get away with it
Amid reports that pressure is mounting on the Securities and Exchange Commission to act on Elon Musk’s “funding secured” Tweet, there is also another camp making the argument that Musk “might not have to worry” at all about the SEC.
One of the main reasons offered in a recent Bloomberg article is the fact that the Securities and Exchange Commission’s San Francisco office is reportedly understaffed and “often outgunned”. That is, they often pursue companies that have more talent, more capital and more resources.
The San Francisco office of the SEC is also tasked with competing for employment with the same “disruptive” technology companies that they are supposed to supervise. The article suggests that the best and the brightest in Silicon Valley don’t aspire to work for the SEC – many would rather work at tech companies and start ups offering the allure of getting in on something big.