<story><title>Tesla is being investigated for securities and wire fraud for self-driving claim</title><url>https://www.theverge.com/2024/5/8/24151881/tesla-justice-investigation-securities-wire-fraud-self-driving</url></story><parent_chain><item><author>chollida1</author><text>This is about defrauding people who bought a tesla, not investors.&lt;p&gt;&amp;gt; In 2020, Musk told a crowd in Shanghai that he remains “confident” that Tesla will achieve “basic functionality for level five autonomy this year,” referring to the SAE’s rankings of autonomy. Tesla’s technology, in 2024, is still at level 2.&lt;p&gt;This reminds me alot of the Thernos case where she tried to make the case not about fraud but about an overly optimistic CEO promising something and being wrong about that. here Musk has clearly said that full self driving would be available many years ago.&lt;p&gt;So I guess we&amp;#x27;re trying to figure out how much lying is ok by a CEO before it becomes fraud to the buyer.</text></item></parent_chain><comment><author>adrr</author><text>I purchased FSD in 2019 on the promise of self driving.  5 years later and still no self driving.  There was also the promise of the car being able to self park.  I would be happy if I got my money back for a feature that was never delivered.</text></comment>
<story><title>Tesla is being investigated for securities and wire fraud for self-driving claim</title><url>https://www.theverge.com/2024/5/8/24151881/tesla-justice-investigation-securities-wire-fraud-self-driving</url></story><parent_chain><item><author>chollida1</author><text>This is about defrauding people who bought a tesla, not investors.&lt;p&gt;&amp;gt; In 2020, Musk told a crowd in Shanghai that he remains “confident” that Tesla will achieve “basic functionality for level five autonomy this year,” referring to the SAE’s rankings of autonomy. Tesla’s technology, in 2024, is still at level 2.&lt;p&gt;This reminds me alot of the Thernos case where she tried to make the case not about fraud but about an overly optimistic CEO promising something and being wrong about that. here Musk has clearly said that full self driving would be available many years ago.&lt;p&gt;So I guess we&amp;#x27;re trying to figure out how much lying is ok by a CEO before it becomes fraud to the buyer.</text></item></parent_chain><comment><author>bunderbunder</author><text>As the article explains, wire fraud is about defrauding consumers, and securities fraud is about deceiving investors. Tesla is under investigation for both.</text></comment>