Daily Archives: August 2, 2022

Elon Musk has countersued Twitter, the social network that he previously agreed to buy for $44bn, according to a new report.

He later backed away from the deal, prompting a lawsuit from the company.

Mr Musks lawsuit was filed on Friday and has not been made public, CNBC reported. It remains unclear why Mr Musk requested that the details of the suit be kept secret.

The Tesla and SpaceX CEO has heavily criticized Twitter in interviews as well as on social media following the sale agreement.

The $44bn deal was announced on 25 April, but a market decline soon led to a plunge in tech stocks, impacting both Tesla and Twitter.

Not long after the deal was agreed upon, Mr Musk said Twitter had provided inaccurate estimates of the numbers of spam and bot accounts on the platform and he also accused the company of not giving him access to information concerning how these accounts were managed.

Earlier in July, Mr Musk said he wanted to end the deal, prompting Twitter to sue him in the Delaware Court of Chancery to force him to go ahead with the agreement.

Mr Musks lawyers filed the countersuit in a court in Delaware on Friday. The lawsuit could be made public soon, possibly with some details redacted, according to CNBC.

Chancellor Kathaleen St J McCormick, the judge in the case, issued an order on Thursday evening, outlining a schedule for a trial lasting five days to begin on 17 October.

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Elon Musk countersues Twitter

Photo: Jim Watson/AFP via Getty Images

When Twitter sued Elon Musk last month in Delaware Chancery Court, the 62-page poop-emoji-laden suit brought up Musks many requests for data that, the company claimed, were irrelevant except as a pretext for wrongfully blowing up the $44 billion deal. Musk initiated this takeover in April but has since been trying to get out of it, claiming there are more spambots than the company lets on in its public filings, which make it less valuable than the price he agreed to pay for it. Dataabout tweets, users, likes, retweets, and other digital interactionshave been central to the Musk camps strategy that they can get out of this, either by finding something wrong with how Twitter is run or by pushing its board into an untenable position in which it is forced to breach a legal agreement. With a brisk 11 weeks to go before the suit hits the courtroom, it turns out that Musks strategy of burying his opponent in information requests is a pretty good one but it may be better suited to his rival.

Over the weekend, Twitter sent subpoenas to 17 Wall Street bank entities that have helped Musk put togetherthe deal. The Washington Post reported that the company then followed that on Monday with further requests to some of his closest allies including those who are pledging money for the acquisition, and others whose involvement isnt exactly clear including venture capitalist Marc Andreessen, Jason Calacanis, Keith Rabois, and the so-called SPAC king Chamath Palihapitiya. One investor on the receiving end of a subpoena, Palantir co-founder Joe Lonsdale called the request a giant harassing fishing expedition. Another, David Sacks, suggested on Twitter he would fight it.

The volume of information requested is huge, as you may expect for a deal like this: every pertinent text message, email, voice-mail, DM, and whatever other way they may have communicated. The requests cover everything from basic discussions over debt financing to any conversations with Bob Swan, the former Intel CEO who was booted from Team Musk for not being on the same wavelength. To get a sense of the sprawl, the legal publication The Chancery Daily has been posting screengrabs of the requests, which is enormously helpful for the layperson (and a New York Citybased reporter) forced to navigate the byzantine Delaware court docket system.

The Chancery Daily helpfully sent me the filings for Morgan Stanleys subpoena, though Twitter is asking for similar information from all of the lenders. There are 21 different data requests, but the fifth has the most potential for damage. To cut through the legalese here, Twitter wants Morgan Stanley to hand over any communications it has had with Musk about two sections of the merger agreement that he has tried to use as a way to get out of the deal the ones about information requests and financing. The filings hone these requests to include any analysis drawn from the more than 49 tebibytes of data that Twitter handed over from its so-called fire hose of data, which Musk had received in response to his attempts to root out the bots.

This is important because, essentially, Twitter is calling Musks bluff. Recall that Musk had previously dared Twitter to take him to court, threatening to reveal some hidden and terrible truth about the number of bots on the platform in some kind of QAnon-like Great Awakening reveal where the scales would fall from everyones eyes and we would finally see that its all fake. (Amazingly, Twitter claims in its lawsuit that it actually gave Musk a detailed summary of how it measures bots but that he later admitted to not even looking at it.) The thing is, while bots are obviously a problem on Twitter something the companys current CEO has posted about Musks camp hasnt publicly presented any evidence that it rises to the level of an issue that should blow up the deal. The Post story floats that the strategy behind the VCs getting subpoenas is to find out what positive things Musk had to say about Twitter before deciding that he didnt want to go through with it anymore. And that gets at the heart of the legal drama so far,early in the second act though it may be. Musk has since filed a response to the suit, which remains under seal, so maybe he really does have some ace up his sleeve. But Twitter is betting its data will ultimately help it win the day.

This story was updated to include new information from the Washington Post about further subpoenas.

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Twitter Just Went Into Ludicrous Mode in Its Legal War Against Elon Musk - New York Magazine

The video has garnered more than one million views and over 52,000 likes.

After Elon Musk's picture with his son X AE A-XII went viral, the Tesla CEO shared a short clip in which his two-year-old was seen playing with their pet dogs at home.

On August 1, Mr Musk took to Twitter and shared a sweet photo with son X. In the throwback image from Thanksgiving last year, the father-son duo were seen flaunting matching haircuts. Now, while replying to his own post, he also shared a video showing the little one playing with dogs.

Watch the adorable video below:

In the short clip, X AE A-XII, wearing a t-shirt and shorts, is seen playing with his furry friends. In the following tweet, the tech billionaire also added how his son loves "doges".

Since being shared, the video has taken the internet by storm. It has garnered more than one million views and over 52,000 likes. While one user jokingly wrote, "Pretty sure he said doge," another called the video "adorable." "Oh this is the sweetest thing ever. look he has one of his little shoesies off ... cute lil' X," wrote third. "He has happy feet! So cute!" commented fourth.

Also Read |Elon Musk's Father Says He's Not Proud Of His Billionaire Son

X AE A-XII was born in 2020 and is Elon Musk's first child with Canadian musician Grimes. In 2022, the former couple also welcomed their second child via surrogate, a daughter named Exa Dark Siderael Musk. The pair have been co-parenting their children after splitting up in September 2021. They had been in a relationship since 2018.

Meanwhile, Elon Musk also welcomed twins with Shivon Zilis in November 2021 - one month before his second child with Grimes. The Tesla and SpaceX CEO also has five children - Griffin, Vivian, Kai, Saxon and Damian - with Candian author Justine Wilson.

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Elon Musk Shares Adorable Video Of His Son, Internet Calls It "Sweetest Thing Ever" - NDTV

From charges of business fraud and allegations of personal misconduct to a public archive of provocative Twitter rants, Elon Musk is no stranger to scandal.

The CEO of Tesla, SpaceX, Neuralink, and The Boring Company is dealing with a potential $1 billion penalty for walking away from a $44 billion bid to buy Twitter; allegations of an affair with Nicole Shanahan, the wife of Sergey Brin, Musk's longtime friend and a Google cofounder; and news that he secretly fathered twins with Shivon Zilis, a Tesla executive and that's just within the past 30 days.

It's unusual for a CEO shrouded in so much scandal, controversy, and alleged misconduct to maintain footing at the helm of four companies with a combined valuation in the billions. Duncan Levin, a criminal defense attorney who represents controversial clients, such as Harvey Weinstein, Clare Bronfman, and Anna Delvey, told Insider: "No one is scandal-proof. Although, obviously, Elon Musk is somewhat insulated from fallout since he runs his own company."

For example, Musk has been accused of fostering a toxic culture of racism and sexism at the businesses he runs. In June, 15 former and current Black employees at Tesla filed a lawsuit against the electric-car maker, alleging racial discrimination. In 2018, SpaceX the aerospace company founded by Musk paid a flight attendant $250,000 to settle a sexual-misconduct claim against the CEO. Despite his antics, Musk remains largely unscathed professionally.

What's more, the tech billionaire's personal life generates the kind of tabloid frenzy typically reserved for Hollywood A-listers, and his professional stunts leave certain stocks reeling.

Musk's ability to bounce back from repercussions is the result of a complex interplay of a fierce, cultlike fandom and his transformational leadership style, experts told Insider.

Musk's transformational style of leadership is the subject of substantial analysis, research, and case studies. "He's such an unpredictable character, and nobody really knows which way he is going to turn, which makes him such an interesting leader to follow," said Jay Baer, the founder of the marketing-consultancy startup Convince & Convert, an advisory firm with clients such as 3M, Oracle, Cisco, and Nike.

Musk's innovations in space travel and clean energy make him an iconic figure among electric-car enthusiasts, space lovers, and tech geeks. "I think he's a deeply flawed, fascinating person," said Tom Goodwin, a cofounder of the business-consultancy startup All We Have Is Now and the host of "The Edge," a business, tech, and culture video series on Euronews. "Everything that Musk represents is about challenging traditional ways of doing business."

Chad Anderson, the CEO of the space-tech VC fund Space Angels Network, was an early investor in SpaceX and told Insider that while Musk is not without flaws, he has the kind of "vision and real chops" that makes the impossible possible.

What's more, he's highly intelligent and ahead of most people, a former manager at Tesla previously told Insider. "You have to think 10 times more audacious than he does to be able to be successful," the employee said.

The controversies Musk faces, the tension he builds, the avid base of fans and allies, and the growing number of enemies only add to his legend, Goodwin said. "The chronicling of obstacles being overcome and the rallying of others behind a shared goal are generating energy and fueling the narrative."

What's more, Musk's unflappability is similar to the phenomenon that brought Trump's ascendance.

"Musk is Teflon in the same way that Trump is Teflon," Baer said. He recalled when Trump said he could shoot someone on 5th Avenue and "not lose any voters." After that remark in 2016, he went on to be elected president. Musk has the same halo, he added.

"They are the movement they've built," said Baer, adding that without Trump, there would be no MAGA, and that without Musk, the allure of his companies would be diminished.

This is vastly different from most other CEOs, who are somewhat interchangeable mercenaries or founders who usually don't have the voting shares or board control to give themselves scandal immunity, Baer said.

For example, it's not uncommon for CEOs to be asked to step down in light of allegations of personal improprieties. Reports said that Bill Gates left Microsoft's board amid an investigation into an alleged affair with an employee, while Brian Krzanich, Intel's CEO, resigned after what the tech firm described as a past consensual relationship with a middle manager.

"Musk's and Trump's numerous ethical shortcomings make them more effective," Baer said. "They are both 'morality mavericks,' and that works for them, not against them."

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Elon Musk's controversies and why he's still CEO of 4 firms - Business Insider

Look into the childhoods of many super high achievers, from Howard Schultz to Madonna to Eleanor Roosevelt, and you'll notice a common theme: They weren't very happy. In fact, a great many were downright tragic. Madonna lost her mother to cancer at age 5. Schultz grew up in a tough housing project. Roosevelt's dad drank himself to death.

At first this might look like just random anecdotes, but science suggests there is something more to this observation. One classic study of 400 high achievers who had at least two biographies written about them (for positive reasons) found that an incredible 75 percent had experienced a difficult childhood.

Psychologists believe the huge over-representation of those who experienced tough times as children amongoverachieversis likely because of the skills a difficult childhood can teach. No one would wish trauma or abuse on any child, but those who do weather these storms tend to learn extreme resilience, an outsizecapacity to handle stress, and a dismissive attitude toward negative feedback. And if you're looking for a contemporary example of how this works, look no further than Elon Musk.

How Elon Musk became Elon Musk

In a recent interview with the U.K.'s Sunday Times, Tosca Musk, the younger sister of the Tesla and SpaceX founder, opened up about the difficult childhood they shared. Much of the conversation focuses on the younger Musk's current work as a filmmaker and entrepreneur, but she also recalls the mental and physical abuse their mother suffered at the hands of their father.

It's a topic her mother, Maye Musk, covered in her book, A Woman Makes a Plan. "I remember that Tosca and Kimbal, who were 2 and 4 respectively, would cry in the corner, and Elon, who was 5, would hit him on the backs of his knees to try to stop him,"she wrote. When Maye finally worked up the courage to leave her husband, he chased her through the streets with a knife.

Tosca's memories of her younger years with Elon and their brother Kimbal aren't all negative. She says the siblings were close and recalls roughhousing with her brothers and being beaten repeatedly at Dungeons & Dragons by Elon. But it's clear from the interview, Maye Musk's book, and previous interviews given by Elon that all three Musk siblings experienced extremely trying times when they were young.

That could explain a lot about how Elon Musk became Elon Musk. "Coping with stress is a lot like exercise: We become stronger with practice,"explained clinical psychologist Meg Jay in The Wall Street Journal. She cites research showing that just as people grow inured to physical stressors like cold or exercise, becoming tougher and more tolerant of difficult conditions, they can adapt to psychological stress through exposure. "They became less overwhelmed by subsequent difficulties, and by their own fight-or-flight arousal,"Jay continues.

There is a breaking point for everyone of course, but up to that point, what doesn't kill you really can make you stronger. Which might just explain how Musk can handle challenges, such as engineering a reusable rocket or facing down electric car production chaos, that would reduce most of us to quivering jelly.

How to become more resilient without the trauma

That's not to say abuse or tragedy is ever desirable. Whatever immunity to stress Musk may have won from his difficult childhood, he doubtless carries its scars too. Which leads to an inevitable question about this kind of armchair psychologizing: Who cares? Say Musk and others who suffer tremendously as kids really do emerge stronger, what does it matter? It's not like anyone would recommend traumatizing kidsto boost their resilience.

That's true, but psychologists insist that studying the processes that children use to overcome severe challenges can suggest ways we can all be more resilient.

First, while you don't want to traumatize yourself for the sake of greater mental toughness, you do want to challenge yourself. "It helps to take on long-form projects that feel like challenges rather than threats. Whether taking up crew or judo, studying for an advanced degree or mastering an instrument, hard things that aren't emotional or unexpected help us practice for those that are," Jay writes.

The Musk siblings clearly leaned on each other to survive the difficult moments in their childhood. Psychologists also recommend this resilience-building technique to everyone. Contrary to those old cowboy movies you might have seen, toughness is a team sport. The more people you have to lean on in difficult times, the more resilient you'll be.

Finally, don't underestimate the importance of the inner battle. Research shows that those who emerge stronger from challenges are those who cheer themselves on and never stop trying to make plans to cope. "Resist defeat in your own mind," Kay teaches. "Fighting back on the inside is where battling back on the outside begins."

Childhood traumais an evil to be avoided at all costs. But cases like the Musk'sillustrate that, for some, extreme challenges can build extreme resilience. Whatever your age or background you can use knowledge of that process to be a bit mentally tougher yourself.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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Science Shows Most High Achievers Had Troubled Childhoods. Elon Musk's Sister Just Explained Why He's the Perfect Example - Inc.

A 9.8-foot piece of space junk from Elon Musks spacecraft has crashed into a farmers property in New South Wales, Australia at around 15,534 mph.

The object which was part of the SpaceX Crew-1 craft was found in a sheep paddock by a farmer living on a large property in the Snowy Mountains.

Farmer Mick Miners said he discovered the space junk, which resembled a tree from a distance, after his family heard a loud bang.

The bang was also reportedly heard by residents living in southern NSW, with some alleging they saw an explosion.

Neighboring farmer Jock Wallace also reported a similar foreign object that had torpedoed into his land.

Luckily for both farmers, the space waste which came from one of the crafts fins was located a fair way from their homes.

Upon investigation, Australian National University space expert Brad Tucker was called by authorities to inspect the object.

This is most definitely space junk which was part of the SpaceX Crew-1 trunk, he told Ben Fordham on radio on Monday.

SpaceX has this capsule that takes humans into space, but there is a bottom part so when the astronauts come back, they leave the bottom part in space before the capsule lands.

The spacecraft, which costs $62M per launch, has started to deorbit after almost two years in space.

Tucker said the craft was originally planned to break apart and land in the ocean.

We saw most pieces land in the ocean, but clearly some hadnt because this 9.8-foot piece was speared into the ground from space, Tucker said.

In photographs of the debris, you can clearly see charring, which you would expect from re-entry (into the atmosphere). It is very rare to see because they dont usually land on land but in the ocean. People often think they find small pieces of space junk, but they would burn up on re-entry, so its more likely to be large pieces like this.

The spacecraft, which is a stainless steel rocket, was more than 164 feet tall.

SpaceX is an American aerospace company founded in 2002 by Musk that helped usher in the era of commercial spaceflight.

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'Space junk' with ties to Elon Musk's SpaceX found on Australian farmers property - New York Post

It would be an understatement to say that Elon Musk, the richest man in the world, is very interested in Russia's war in Ukraine.

NATO countries and experts see this war as a battle for democracy.

"When the history of this era is written, Putins war on Ukraine will have left Russia weaker and the rest of the world stronger," President Joe Biden said on Ukraine during his March 1 State of the Union address. "While it shouldnt have taken something so terrible for people around the world to see whats at stake, now everyone sees it clearly."

"In the battle between democracy and autocracy, democracies are rising to the moment, and the world is clearly choosing the side of peace and security," Biden argued. "This is a real test. Its going to take time. So let us continue to draw inspiration from the iron will of the Ukrainian people."

Musk, the CEO of premium electric vehicles Tesla ( (TSLA) - Get Tesla Inc. Report),seems to share this opinion.

"We cannot let Putin take over Ukraine. This is crazy," the Chief Executive Officer of the premium EV maker said in March during an interview with Mathias Dpfner, the CEO of Business Insider's parent company, Axel Springer.

During the same interview, the tech tycoon explained that someone of his rank had a responsibility and should therefore use the power and influence that is his to influence the conduct of world affairs. Musk has more than 102.4 million followers on Twitter and runs several companies (Tesla, SpaceX, The Boring Company, Neuralink).

"I think I can be helpful in conflicts," Musk said. "I try to take a set of actions that are most likely to improve the probability that the future will be good. And obviously, sometimes I make mistakes in this regard."

"I do whatever I think is most likely to ensure that the future is good for humanity. Those are the actions that I will take."

Among the actions taken by Musk since the start of the conflict, there is one that has particularly irritated Russia. The serial entrepreneur decided to provide Starlink antennas, the satellite internet access service of his other company SpaceX, to Ukraine when the country's telecommunications infrastructure had been largely destroyed by Russian bombings.

Starlink guarantees secure Internet access and thus appeared as a response to the Russian communication machine around this war because Ukrainians could communicate freely with the outside world and give their version of events.

The entrepreneur also went so far as to propose a duel to Putin, in an attempt to end the war. This proposal had earned him threats on his life from the Russian president's loyalists. Putin never responded to the offer.

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Musk's support for Ukraine has never wavered. And he has just demonstrated it again by ringing the alarm bell at a time when the heat wave hitting the West is dominating media coverage to the detriment of the Russian-Ukrainian conflict.

He thus takes up the famous formula: the weight of words, the shock of images.

On July 29, he tweeted a photo to sum up his concern. In the photo, we see a mother in a swimming pool with what appears to be two of her children. The mother is the internet or the West, one of the children, a little girl, is the heat wave affecting Europe and the other child, a little boy, represents the war between Russia and Ukraine.

The mother seems focused on the little child she is lifting out of the water. On her left, the little child seems to be drowning but she pays no attention. The message here seems clear: Europe or the West focuses on a minor problem, the heat wave, and forgets a much bigger problem, the Russian-Ukrainian conflict.

That's what you see on the surface. To further solidify his argument and criticism, Musk split the image into two: Below is a skeleton on a chair on the seabed. The skeleton appears to be the covid-19 pandemic. Basically, this is no longer a current concern, replaced by the heat wave.

The message is clear: the West must review its priorities before it is too late. The Russian war in Ukraine seems to be priority No. 1 for Musk because not only is it a question of democracies against autocracies but also because it affects the energy independence of Europe as winter approaches.

Germany, Europe's largest economy, depends on Russia for nearly half of its gas supply.

Russian gas company Gazprom ( (OGZPY) ) announced in a statement posted on Telegram on July 30 that it had suspended its gas deliveries to Latvia, without providing details.

A spokesman for Latvian energy company Latvijas Gaze, however, said on Friday that Latvijas Gaze buys gas from Russia but not Gazprom, declining to name its supplier because of business secrecy.

In addition to Latvia, several other European countries have been deprived of Russian gas from Gazprom in recent months: Poland, Bulgaria, Finland, Denmark and the Netherlands.

The announcement comes as Gazprom drastically reduced deliveries of Russian gas to Europe through the Nord Stream pipeline this week, citing the need for turbine maintenance, as European countries scramble to fill their reserves for winter.

Westerners accuse Moscow of using the energy weapon in retaliation for the sanctions adopted after the invasion of Ukraine. The Kremlin ensures, for its part, that the sanctions are at the origin of technical problems of the gas infrastructure and that Europe therefore suffers from the measures which it imposes on Russia.

The Russian war in Ukraine left tens of thousands dead, according to the BBC. It is difficult to give an exact count at this time. Millions of people have been displaced.

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Elon Musk Sounds the Alarm on Russia-Ukraine War - TheStreet

Elon Musk slammed Wikipedia on Friday for losing its objectivity after the online encyclopedia blocked users from editing its recession page prompting accusations that it was running interference for the Biden administration.

Musk, the Tesla CEO and the worlds richest person with an estimated net worth of $263 billion, tagged Wikipedia co-founder Jimmy Wales in a tweet on Friday.

Wikipedia is losing its objectivity, Musk tweeted.

Wikipedia blocked users from revising its recession page after visitors to the site engaged in a frantic editing war over the definition of the term, which is being disputed by the Biden administration following the latest economic data showing a drop in GDP.

One Wikipedia user known as Soibangla edited the recession page to remove reference to the standard definition of the term.

The user added a line that read: There is no global consensus on the definition of a recession.

As of Friday morning, the page included a lock icon in the upper right corner indicating that it was placed in semi-protection mode whereby unregistered users as well as accounts [that] are not confirmed or autoconfirmed would not be able to make changes to the text.

Wikipedia changed the definition of recession to favor the Biden regime, and then locked the page, tweeted right-leaning social media personality Mike Cernovich.

Cant make Biden look bad before the midterm elections! tweeted another Twitter user.

The change comes after dozens of people flocked to the page to make edits to the entry. They were most likely spurred by Thursdays Commerce Department report indicating that the countrys GDP fell by 0.9%.

This is the second consecutive quarter that the national economy has contracted which meets the traditional definition of a recession.

But the Biden administration has insisted that the economy is not in a recession. The president and his aides have steadfastly refused to use the word in briefings to reporters.

This is not an economy thats in recession, Treasury Secretary Janet Yellen told NBCs Meet the Press on Sunday.

But were in a period of transition in which growth is slowing and thats necessary and appropriate and we need to be growing at a steady and sustainable pace.

Whether the US is technically in a recession is a determination that is usually made by the National Bureau of Economic Research, which is a private, nonprofit research organization based in Cambridge, Mass.

The NBER bills itself as an apolitical group that is committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community.

The Post has sought comment from Wikipedia.

Semi-protection is useful when there is a significant amount of disruption or vandalism from new or unregistered users, or to prevent sockpuppets of blocked or banned users from editing, especially when it occurs on biographies of living persons who have had a recent high level of media interest, according to the Wikipedia page.

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Elon Musk blasts Wikipedia after it suspends edits of 'recession' page - New York Post

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Elon Musk says that based on what he is seeing as CEO of Tesla, the soaring inflation wreaking havoc on consumers and companies appears to be taming.

The world's richest person took to Twitter this week to declare that "inflation might be trending down," saying that "more Tesla commodity prices are trending down than up [for what it's worth]."

Musk's cautious optimism that prices could be stabilizing comes a week after Tesla's latest earnings call, during which he was asked about the prospect of the electric vehicle giant cutting the price tag on its models following a previous tweet where he said that "if inflation comes down, we can lower prices for cars."

WSJ STANDS BY REPORT OF ELON MUSK AFFAIR WITH GOOGLE CO-FOUNDER'S WIFE: CONFIDENT IN OUR SOURCING

Tesla CEO Elon Musk (REUTERS/Aly Song/File Photo / Reuters Photos)

"When or if we see indications that the inflation rate is declining, then we would not need to increase our car prices," Musk said during the call. "Its possible that there could be a slight decrease in car prices, but this is fundamentally dependent on macroeconomic inflation its not something we control."

TESLA BEING INVESTIGATED BY FEDERAL AGENCY FOR ALLEGED WORKPLACE DISCRIMINATION

German Chancellor Olaf Scholz, left, talks to Tesla CEO Elon Musk at the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, on March 22, 2022. ((Patrick Pleul/Pool via AP) / AP Newsroom)

"If I were to guess and I would take this with a grain of salt I think inflation will decline towards the end of this year," he continued. "We are certainly seeing prices of commodities trending lower."

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Musk added, "Making economic prognostication is fraught with error."

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Elon Musk weighs in on Tesla inflation - Fox Business