Choose a topic. Scan the news for a story that has something to do with the inte
ID: 3757137 • Letter: C
Question
Choose a topic. Scan the news for a story that has something to do with the intersection of society and technology. The connection to technology can be minor (i.e., mentioning Twitter coverage of a political event). If you are having trouble choosing a topic, you can select one from the list provided by the professor: useful links. Remember that the news event must be current (published within the last 3 months at the time you submit your paper). The story must be based on a NEWS event, not a review of a product or a general information page (i.e., a terms of use page for a website).Explanation / Answer
Recently, Elon Musk tweeted about massive buyout of Tesla at $420 per share.The tweet on August 7 increased Tesla's value by $6.3bn (£4.9bn) and personal worth of Musk by $1.2bn.
The Securities Exchange Commission (SEC) has accused Musk of wrong doing as their were no substansial tallks regarding funding and payout with any money provider.
Musk's actions were unethical because he tried to artifiically inflate his company's share values by providing false news. It was also a form of cheating to the people who bought the shares after this tweet. Providing false information to his 22 million followers also shows a breach of trust from Musk's side.
Allegedly Musk also tried to impress hisgirlfriend by tweeting the share price as $420 which is very much irresponsible from Musk's side and also shows his irresponsibility.
After revelation of Musk's wrongdoings, his company's share prices fell by 12 percent. This has lead to a massive loss for investors who invested in Tesla. Fake news is a huge problem in society and has lead to a lot of bad consequences in past but fake news coming from credible sources is much more bad and even multiplies the chances of its ill effects.
Musk's tweet was also a cover up to divert people's attetion from the bad performance of Tesla. Musk was morally obligated to accept company's bad performance but instead of theat he tried to cover up the news by propogating false news.
Musk might be losing his leadership position in Tesla and might have to go under trial.
Sources:https://www.usatoday.com/story/money/2018/09/27/sec-charges-elon-musk-tesla-over-tweets-take-company-private/1447172002/
https://twitter.com/elonmusk/status/1033494277643481089?lang=en
https://www.telegraph.co.uk/technology/2018/09/27/elon-musk-sued-us-securities-regulator/
https://apnews.com/c55d668b4a494de7af28bc54c577ac32