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            <title><![CDATA[Heston, who said he was]]></title>
            <link>https://paragraph.com/@cobe/heston-who-said-he-was</link>
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            <pubDate>Wed, 01 Feb 2023 12:18:22 GMT</pubDate>
            <description><![CDATA[Heston, who said he was paid $300,000 to $350,000 for his work in the case, demurred on trying to make a concrete estimate on the investor damages, saying that was a job for the jurors. The crux of the case hinges on an Aug. 7, 2018, tweet in which Musk declared “funding secured ” to take Tesla private. Musk abruptly posted the tweet minutes before boarding his private jet after being alerted that the Financial Times was about to publish a story that Saudi Arabia’s Public Investment Fund had ...]]></description>
            <content:encoded><![CDATA[<p>Heston, who said he was paid $300,000 to $350,000 for his work in the case, demurred on trying to make a concrete estimate on the investor damages, saying that was a job for the jurors.</p><p>The crux of the case hinges on an Aug. 7, 2018, tweet in which Musk declared <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://twitter.com/elonmusk/status/1026872652290379776?s=20&amp;t=v7LmXiT0FPGCQ-LJcIXCBQ">“funding secured</a> ” to take Tesla private. Musk abruptly posted the tweet minutes before boarding his private jet after being alerted that the Financial Times was about to <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://www.ft.com/content/42ca6c42-a79e-11e8-926a-7342fe5e173f">publish a story</a> that Saudi Arabia’s Public Investment Fund had spent about $2 billion buying a 5% stake in Tesla to diversify its interests beyond oil, according to his testimony.</p><p>Amid widespread confusion about whether Musk’s Twitter account had been hacked or he was joking, Musk followed up a few hours later with <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://twitter.com/elonmusk/status/1026914941004001280?s=20&amp;t=8q3FfUCRJDJ_l9fQ9ois8Q">another tweet</a> suggesting a deal was imminent.</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[One of Tuesday’s two experts]]></title>
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            <pubDate>Wed, 01 Feb 2023 12:17:33 GMT</pubDate>
            <description><![CDATA[One of Tuesday’s two experts, economist Michael Hartzmark, reviewed a report peppered with terms such as “but-for” and “consequential inflation” that made a case for calculating the damages suffered by Tesla shareholders during a 10-day period in August 2018 at anywhere from $4 billion to $11 billion, or $22.55 to $66.67 per Tesla share at that time. Another expert, University of Maryland finance professor Steven Heston, reviewed an even denser report analyzing the impact of Musk’s tweets on ...]]></description>
            <content:encoded><![CDATA[<p>One of Tuesday’s two experts, economist Michael Hartzmark, reviewed a report peppered with terms such as “but-for” and “consequential inflation” that made a case for calculating the damages suffered by Tesla shareholders during a 10-day period in August 2018 at anywhere from $4 billion to $11 billion, or $22.55 to $66.67 per Tesla share at that time.</p><p>Another expert, University of Maryland finance professor Steven Heston, reviewed an even denser report analyzing the impact of Musk’s tweets on more than 2,000 types of Tesla stock options, drawing largely upon a formula known as the Black-Scholes model widely used by companies to value executive compensation packages.</p><p>When pressed by a Musk lawyer about the reliability of his model, Heston acknowledged: “All models deviate from reality, which is why they are models.”</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[The mind-bending estimates]]></title>
            <link>https://paragraph.com/@cobe/the-mind-bending-estimates</link>
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            <pubDate>Wed, 01 Feb 2023 12:16:38 GMT</pubDate>
            <description><![CDATA[SAN FRANCISCO (AP) — An Elon Musk tweet declaring he had the financing to take Tesla private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday at a trial examining the haphazard handling of the buyout proposal. The mind-bending estimates laid out by two experts hired by attorneys representing Tesla shareholders underscored the challenges facing a nine-person jury as the three-week trial winds down this week. U.S. District...]]></description>
            <content:encoded><![CDATA[<p>SAN FRANCISCO (AP) — An Elon Musk tweet declaring he had the financing to take Tesla private in 2018 caused billions of dollars in investor damages after the deal collapsed, according to estimates presented Tuesday at a trial examining the haphazard handling of the buyout proposal.</p><p>The mind-bending estimates laid out by two experts hired by attorneys representing Tesla shareholders underscored the challenges facing a nine-person jury as the three-week trial winds down this week. U.S. District Judge Edward Chen expects to turn the case over to the jury Friday.</p><p>Depending on the verdict, Musk and the electric automaker that he runs could be facing more financial fallout for his unpredictable behavior on the Twitter platform, which he now owns. Without acknowledging any wrongdoing, Musk and Tesla reached <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://apnews.com/article/north-america-lawsuits-us-news-ap-top-news-ca-state-wire-128cc400e4244566a2f12971e257abb9">a $40 million settlement</a> with securities regulators after Musk’s troublesome tweets in August 2018.</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[Service]]></title>
            <link>https://paragraph.com/@cobe/service</link>
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            <pubDate>Mon, 12 Dec 2022 03:30:01 GMT</pubDate>
            <description><![CDATA[The U.S. Forest Service issued an avalanche warning for the backcountry in the mountains west of Lake Tahoe where it said “several feet of new snow and strong winds will result in dangerous avalanche conditions.” Gusts of wind up to 50 mph (80 kph) that sent trees into homes in Sonoma County on Saturday could reach 100 mph (160 kph) over Sierra ridgetops by early Sunday, the National Weather Service said.]]></description>
            <content:encoded><![CDATA[<p>The U.S. Forest Service issued an avalanche warning for the backcountry in the mountains west of Lake Tahoe where it said “several feet of new snow and strong winds will result in dangerous avalanche conditions.”</p><p>Gusts of wind up to 50 mph (80 kph) that sent trees into homes in Sonoma County on Saturday could reach 100 mph (160 kph) over Sierra ridgetops by early Sunday, the National Weather Service said.</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[moment]]></title>
            <link>https://paragraph.com/@cobe/moment</link>
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            <pubDate>Mon, 23 May 2022 07:11:08 GMT</pubDate>
            <description><![CDATA[He noted the recent market downturn that sent crypto and NFT prices sinking—which contrasted heavily against the “summer camp”-like vibe of VeeCon—but suggested that it would be only a temporary downturn as the underlying technology continues to gain momentum.]]></description>
            <content:encoded><![CDATA[<p>He noted the <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://decrypt.co/100358/7-big-moments-from-bitcoin-crypto-crash">recent market downturn</a> that sent crypto <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://decrypt.co/99822/bored-ape-yacht-club-ethereum-nft-prices-plummet-crypto-market-crashes">and NFT prices</a> sinking—which contrasted heavily against the <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://decrypt.co/100940/gary-vee-veecon-nft-summer-camp">“summer camp”-like vibe of VeeCon</a>—but suggested that it would be only a temporary downturn as the underlying technology continues to gain momentum.</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[Beeple l]]></title>
            <link>https://paragraph.com/@cobe/beeple-l</link>
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            <pubDate>Mon, 23 May 2022 07:10:24 GMT</pubDate>
            <description><![CDATA[Beeple later tweeted that his account was back to normal and “we have control now,” adding: “Stay safe out there, anything too good to be true IS A FUCKING SCAM.”]]></description>
            <content:encoded><![CDATA[<p>Beeple later tweeted that his account was back to normal and “we have control now,” adding: “Stay safe out there, anything too good to be true IS A FUCKING SCAM.”</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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            <title><![CDATA[tweet shared a link ]]></title>
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            <pubDate>Mon, 23 May 2022 07:10:04 GMT</pubDate>
            <description><![CDATA[The tweet shared a link to a dodgy website pretending to be a “raffle” of Beeple’s Louis Vuitton collaboration (Beeple first collaborated with the fashion brand back in 2019). But when people clicked on the link, one Ethereum was automatically drained from their wallets, according to Denley.]]></description>
            <content:encoded><![CDATA[<p>The tweet shared a link to a dodgy website pretending to be a “raffle” of Beeple’s Louis Vuitton collaboration (Beeple first collaborated with the fashion brand <a target="_blank" rel="noopener noreferrer nofollow ugc" class="dont-break-out" href="https://opensea.io/collection/beeple-everydays">back in 2019</a>). But when people clicked on the link, one Ethereum was automatically drained from their wallets, according to Denley.</p>]]></content:encoded>
            <author>cobe@newsletter.paragraph.com (cobe)</author>
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