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Elon Musk Can’t Stop Lying to Tesla Investors

Tesla’s stock is in a free fall, and the Chief Twit is not doing much to arrest the downward trajectory.

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Since Elon Musk bought Twitter, Tesla’s stock value has been cut in half. Musk’s reckless behavior—from reinstating far-right radicals and banning journalists, to haphazardly laying off workers, posting Nazi pictures, encouraging people to vote Republican, and alienating advertisers galore—has played a large role in the dramatic free fall.

And it’s not like Twitter is the only firm that’s been inundated by Muskian chaos. Tesla has been embroiled in numerous legal and PR issues related to rampant sexual harassment and racism in factories, to the company’s “self-driving” cars’ apparent propensity to spontaneously combust or run into pedestrians. It’s no surprise that investor confidence would be at an all-time low now that Musk’s attention has been split between the two troubled companies.

Musk himself has a dwindling commitment to the company he took over in 2008. He has sold nearly $40 billion worth of Tesla stock in a little over a year, mostly to maintain Twitter’s viability.

Naturally, this has all been to the detriment of those who still hold stock in Tesla. But in his attempts to massage those concerns, Musk has, in effect, been continually lying to investors, which in turn has only given these benefactors even more fodder to distrust Musk and flee the company.

Musk sold around $8.5 billion in stock in late April, pledging on April 29 “no further TSLA sales planned after today.” It was a pledge he couldn’t keep: On August 10, he sold another almost $7 billion. Once again he promised he was done selling, and once again, he reneged on that promise: On November 8, he sold some $4 billion; he cashed out another $3.6 billion on December 14.

In a Twitter spaces conversation on December 22, Musk pledged once again to stop the sell-off. “I won’t sell stock until, I don’t know, probably two years from now,” he said. “Definitely not next year under any circumstances and probably not the year thereafter.”

That someone as mercurial as Musk can be trusted to keep a commitment spanning the next two years is hard to believe, given his propensity for breaking promises—something that’s ticked up to a weekly basis since he acquired Twitter.

Now, the share value of the venture that enabled Musk to burnish his reputation as a prodigal tech genius is falling, with no end in sight, all at the expense of the Twitter acquisition—a pursuit largely driven by Musk’s hunger for attention, and his yearning to feel funny or well-liked.

If he’s just in it for the comedy, Musk can rest well knowing that many are surely reveling in the laughable absurdity of it all. Meanwhile, those most invested in Musk’s success—investors themselves—are perhaps reckoning with the idea that the best time to divest from Musk was probably yesterday. And that the next best time would be right now.

Unfortunately More on Elon

Who Said It: Donald Trump or Norma Desmond?

They’re both increasingly isolated and adrift from their glory days, but only one is a former president.

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Gloria Swanson appears as Norma Desmond in the final scene of Billy Wilder's "Sunset Boulevard."

Over the holiday, New York magazine’s Olivia Nuzzi produced a compulsively readable dispatch on the nascent presidential campaign of Donald Trump, who has been largely holed up at Mar-a-Lago since leaving office. It’s a detail-rich endeavor, but one particular factoid jumped out: Trump apparently is a massive fan of Billy Wilder’s Sunset Boulevard, in which Gloria Swanson cemented her icon status playing the role of Norma Desmond: a silent film–era superstar driven to near madness by her own keen sense of faded glory, and whose ill-fated comeback attempt ends in tragedy. 

A little too on-the-nose, you say? Maybe a lot on-the-nose. See if you can parse the fact from fiction: Which of the following quotes are from Sunset Boulevard, and which are from Nuzzi’s article? (Answers at the end.) 

  1. “I did nothing wrong...I’ve done nothing wrong.”
  2. “You see, this is my life! It always will be! Nothing else! Just us, and the cameras, and those wonderful people out there in the dark!” 
  3.  “You know, these people forget.” 
  4. “We always have known that this was not the end.”
  5.  “We don’t need two cars, we have a car. Not one of those cheap new things made of chromium and spit, an Isotta-Fraschini. Have you ever heard of Isotta-Fraschini? All handmade. Cost me $28,000.” 
  6. “I think I’ve always been relevant. Like, I’ve been relevant from a very young age.”
  7.  “And who’ve we got now? Some nobodies!” 
  8. “I’m seeing people all the time. I have a lot of people. I’m not isolated.”
  9. “I believe I am overly generous, and I don’t think that’s a bad thing. But sometimes it can make life a little bit more difficult.”
  10.  “That’s a lie! They still want me!” 
  11.  “You know, this floor used to be wood. But I had it changed.” 
  12.  “I’ll show them! I’ll be up there again, so help me!” 
  13. “I don’t need anybody’s advice! I don’t need any advice!”

ANSWERS: Desmond said 2, 5, 7, 10, 11, 12. Trump said 1, 3, 4, 6, 8, 9, 13. 

George Santos Spent the Holiday Doing Damage Control

The beleaguered New York politician has been backpedaling and making strained excuses for the numerous fabrications in his back story.

Alejandra Villa Loarca/Getty Images
New York Representative-elect George Santos

Representative-elect and apparent serial fabulist George Santos is back in the news, and he comes bearing even worse explanations than ever for the many noteworthy discrepancies in his biography.

The scandal-ridden New York Republican has recently endeavored to address allegations that he fabricated the bulk of his professional and academic resume, as well as details about his Jewish heritage.

Santos admitted Monday night that he had exaggerated his resume. “If I disappointed anyone by my résumé embellishment, I’m sorry,” he said in an interview with New York’s WABC radio.

But “a lot of people overstate in their résumés,” he explained, adding he still plans to take office.

While people may fluff their resumes from time to time, very few claim to have attended two different colleges or worked at major Wall Street firms knowing that no such documentation confirming these assertions exist, nor do they brag about founding a charity that was never registered with the IRS, or running an alleged multimillion-dollar company with no reported clients, website, or even a LinkedIn page.

Santos has also yet to explain how he went from reporting having no assets or earned income in 2020 to declaring he was worth millions in 2022.

But there are concerns beyond the fabrications on his CV. The right-winger has also said he is Jewish through his mother’s family, and has attended several Republican Jewish events. On this point, Santos has begun to backtrack after reports from Jewish Insider and the Forward showed his family has no Jewish heritage whatsoever.

His explanation is, to put it charitably, thin. “I’m Catholic, but I’m also ‘Jew-ish,’” he told City & State NY in an absolutely cringeworthy pun. “It strikes me as so odd that people are rushing to disinherit me … in a time and era where antisemitism is at [an] all-time rise.”

Democrats including Ted Lieu, Joaquin Castro, and Eric Swalwell have all demanded that Santos resign. Republicans, however, have remained silent, likely because they will need every vote they can get when they take control of the House, where the margins are razor-thin.

It’s unclear what will happen to Santos next, and it’s hard to say what, if any, repercussions he will face when he does take office. One thing, however, is clear: The New York Democratic Party failed to do basic research in him, and its stinging losses in the November midterms are growing more humiliating by the day.

Three Key Provisions in the Huge Spending Bill the Senate Just Passed

The package is more than 4,000 pages long. Here are a few highlights.

Majority Leader Chuck Schumer
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Majority Leader Chuck Schumer gives a thumbs-up after the Senate passed the bill on Thursday.

The Senate passed a massive spending bill on Thursday, funding the government through September 2023. The $1.7 trillion package, which passed 68–29, must now pass the House of Representatives and then be signed into law by President Joe Biden. Congress is under a major time crunch to get it done, with the 2022 budget expiring Friday and the winter holiday weekend looming.

Although the bill left out several popular provisions, here are three major measures it does include.

1. Aid for Ukraine

The bill includes $45 billion in humanitarian, economic, and security aid for Ukraine as it fends off Russia’s nearly yearlong invasion. The funds will help arm and equip Ukrainian forces, as well as support an increase of U.S. troops in Eastern Europe and the defense capabilities of NATO allies. The money will also help replenish Defense Department weapons stockpiles, which are being used to supply Kyiv’s military.

Ukrainian President Volodymyr Zelenskiy visited Washington on Wednesday, his first trip overseas since the war began, and called Congress to pass the aid provision for his country. He urged lawmakers to see the funds not as “charity” but as “an investment in … global security and democracy.”

The provision also comes a day after Biden formally announced an additional $1.8 billion in aid to Ukraine, including a Patriot missile system.

2. Increased protections for pregnant workers

The package includes two bills aimed at increasing protections for pregnant and nursing people in the workplace, the Pregnant Workers Fairness Act and the PUMP Act.

The Pregnant Workers Fairness Act would require employers to provide accommodations for pregnant workers, such as more frequent bathroom breaks, the option to sit down during shifts, and permission to carry a water bottle around.

The PUMP Act requires workers be given the extra break time necessary to pump breast milk.

Advocates hailed the two measures, having argued that thousands of people lose their jobs each year because of the lack of accommodations for pregnant and breastfeeding employees.

3. Safeguards against another January 6

The package includes two provisions that will help prevent another attack like the insurrection on January 6, 2021.

The Electoral Count Reform and Presidential Transition Improvement Act reaffirms that the vice president has a purely ceremonial role in certifying the Electoral College votes and cannot overturn the election results, as President Trump urged Vice President Pence to do.

The bill, which has bipartisan support in both chambers, also raises the minimum number of lawmakers required for an objection to the results to move forward.

The second provision increases U.S. attorneys’ budget by $212.1 million for a total of $2.63 billion in 2023. The House Appropriations Committee explained the funds were necessary “to further support prosecutions related to the Jan. 6 attack on the Capitol and domestic terrorism cases.”

The FBI has arrested about 900 people connected to the insurrection but could charge a total of about 3,000 people when all is said and done.

Kyrsten Sinema’s Bonkers, Possibly Unethical List of Demands for Staffers

They allegedly have to buy her groceries and always have a room-temperature bottle of water at the ready.

Bill Clark/CQ-Roll Call, Inc/Getty Images
Arizona Senator Kyrsten Sinema

As if being a Capitol Hill staffer wasn’t notoriously thankless enough, those who work in Senator Kyrsten Sinema’s office must abide by an over-the-top list of dos and don’ts, The Daily Beast reported Thursday.

Sinema is already deeply unpopular both in Washington and at home in Arizona. Her recent decision to switch her party affiliation to independent from Democrat has further ruffled feathers on the Hill. The Beast’s report is unlikely to do her any more favors.

Citing a 37-page internal memo and anonymous former staffers, The Beast wrote that Sinema’s exacting demands “appear to go right up to the line of what Senate ethics rules allow, if not over.” Aides allegedly are required to buy Sinema’s groceries (don’t worry, she pays them back) and be on hand at her apartment to let maintenance workers inside. If true, those tasks are direct violations of Senate ethics rules, which state that staff are not supposed to perform “personal or other non-official activities” on behalf of their bosses.

Aides also are allegedly required always to have a bottle of room-temperature water handy for the senator, who is apparently always hungry and thirsty because of her intensive athletic regimen. That regimen seems to take up the bulk of her time: The memo shows Sinema trains every day and is unreachable during that time. Races are scheduled into her calendar, and she requires an hour-long massage and two 45-minute physical therapy sessions each week. Actual senatorial duties, such as meeting with constituents, lobbyists, or donors, are confined to specific time blocks each week, and never after work hours.

Sinema’s office has denied the memo, which is several years old.

Since coming to Capitol Hill, Sinema has undergone an ideological 180-degree turn, seemingly jettisoning the progressive beliefs she previously espoused. She is notoriously private, rarely answering journalists’ questions. After she announced she was switching parties, the Arizona state Democratic Party accused her of failing to stand up for her constituents in key areas such as voting rights and holding major corporations accountable.

Who Is Sean McElwee, the Progressive Buddy of Sam Bankman-Fried?

The “Abolish ICE” activist and founder of Data for Progress allegedly helped steer donations for the FTX head toward pro-crypto candidates.

Sean McElwee
Video screenshot/NowThisNews

By now, we’ve all heard of Sam Bankman-Fried, the erstwhile head of failed cryptocurrency exchange FTX who faces charges of fraud, money laundering, and illegal political campaign contributions. But who is Sean McElwee, his equally scandal-ridden adviser and ally?

McElwee, a former TNR contributor, was once hailed as a progressive wunderkind. He started the viral “Abolish ICE” movement on Twitter and in 2018 founded the progressive think tank Data for Progress, which focused on influencing public policy through polling data.

His personal influence grew rapidly, as well. McElwee regularly hosted parties in New York and Washington that were attended by younger politicos as well as established lawmakers, including Senator Chuck Schumer and Representative Alexandria Ocasio-Cortez. President Biden’s administration began working regularly with Data for Progress.

Over the past couple years, McElwee and Bankman-Fried grew close. Bankman-Fried set up a super PAC aimed at supporting Democrats who focused on pandemic preparedness, and he hired Data for Progress to do polling.

But in reality, New York magazine reported on Thursday, many of the Democrats Bankman-Fried backed were pro-crypto. “This was not just about directing donations to candidates,” Max Berger, a progressive strategist and former McElwee ally, told the magazine. “This was about Sean running a political strategy designed to shield crypto from government oversight so that crypto billionaires could continue to rip off working people.”

Around the time of FTX’s collapse in November, McElwee suddenly began negotiating his exit from Data for Progress. The think tank’s advisory board reportedly pushed him out over allegations that he was betting on election outcomes, raising questions about a conflict of interest with the group’s polling—“whether McElwee was cooking DFP’s polls to affect races and cash in,” as Politico put it.

A month later, the U.S. attorney for the Southern District of New York unsealed eight counts against Bankman-Fried. Seven were for financial crimes, but the eighth accused him of a straw-donor scheme, meaning he got other people to donate his money to candidates and committees of his choice. “In the race to figure out who might have helped SBF make straw donations, McElwee’s name was at the top of the list,” Politico reported, adding that one Data for Progress employee, the lead analyst, “made nearly $31,000 in donations, which a source at DFP said was more than a quarter of his salary.”

Zelenskiy Calls Russia What Washington Won’t: A “Terrorist” State

The Ukrainian president made a point of repeating the word at the White House and in a speech to Congress.

Ukrainian President Volodymyr Zelenskiy

Ukrainian President Volodymyr Zelenskiy had a choice word for Russia and its invasion of his country: “terrorist.”

In his first trip overseas since the war began in February, Zelenskiy visited Washington on Wednesday to meet with President Joe Biden and address a joint meeting of Congress. During that speech, and in a joint press conference with Biden, he repeatedly referred to Russia’s actions as terrorism.

Zelenskiy hailed the announcement of a new aid package for Ukraine, including a Patriot missile system. “This is a very important step to create secure airspace for Ukraine,” he said at the White House press conference. “That’s the only way we [will] be able to deprive the terrorist country and their terror attack to strike our energy sector and our infrastructure.”

“There can’t be any just peace in the war that was imposed on us by … these inhumans,” he added.

Later that evening, while addressing Congress, Zelenskiy said Russia “enjoys being a terrorist state,” adding, “Let the terrorist state be held responsible for its terror and aggression.”

Biden has been adamant that he will not officially designate Russia as a state sponsor of terrorism. He has said that doing so would cause more harm than good.

An official terrorist designation would unleash a massive array of sanctions that would hurt not only Russia’s economy but also anyone doing legitimate business in the country. Russia is enough a part of the global economy that a U.S. terrorist designation could cause damage around the world.

The Biden administration has also said that the designation would be redundant because of the biting sanctions already imposed on Moscow.

House Speaker Nancy Pelosi warned in July that if Biden did not designate Russia a state sponsor of terrorism, Congress would. But that has not come to pass, and Republicans are set to take over the House in a few weeks—likely under the leadership of Representative Kevin McCarthy, who has said that his party won’t write a “blank check” for Ukraine.

Looks Like George Santos Lied About His Jewish Heritage Too

A new report says the incoming New York congressman isn’t Jewish and his family didn’t flee persecution during World War II like he claims.

New York Representative-elect George Santos

You know who won’t be lighting the third candle on the menorah tonight? Scandal-ridden Representative-elect George Santos, because it appears he’s not Jewish—despite repeated claims to the contrary.

A bombshell New York Times report charged Monday that the New York Republican had fabricated the bulk of his résumé. Now it seems he has also made up details about his Jewish heritage.

On his campaign website, Santos states that his grandparents were Jews who fled persecution twice, first in Ukraine and then again in Belgium as the Nazis rose to power. They settled in Brazil, where his mother, Fatima (a common name among Portuguese-speaking Catholic populations) Devolder, was born.

But the Jewish news outlet the Forward has now accused Santos of lying about that. The Forward said that Santos’s maternal grandparents were born in Brazil, well before the Nazis came to power in Europe, citing genealogy websites, a 1958 local newspaper article, and church records from 1928. (Santos has said that his father was Catholic and his mother was Jewish.)

Neither of his maternal grandparents have Brazilian immigration cards from the 1930s or 1940s, and their names do not appear in databases of European Jewish refugees.

The Forward also spoke to a man who says he is a distant Dutch cousin of Santos. The cousin had set up a family tree on one of the genealogy websites and said their family has neither Jewish nor Ukrainian roots.

Santos’s mother, who died in 2016, made no reference to Judaism on her Facebook page but regularly shared Catholic-themed posts and images of Jesus.

The Republican Jewish Coalition said it had reached out to Santos about the allegations and demanded a public explanation.

House Republicans have remained silent on the accusations Santos lied about his background, likely because they will need every vote they can get when they take control of the chamber by just a few seats.

Democrats have condemned him but stopped short of demanding he resign. It is not yet known if the House Ethics Committee or the Office of Congressional Ethics will investigate him. Fellow New York Representative-elect Daniel Goldman called Wednesday for the U.S. attorney for the Eastern District of New York and the FBI to investigate Santos.

The only thing Santos definitely hasn’t made up seems to be his declaration of victory after the midterms. As details about his background continue to emerge, his win is growing even more humiliating for the New York Democratic Party, which suffered major losses in November and apparently failed to do a basic background check on Santos.

Republicans Are Turning on Mitch McConnell Over His Support for Ukraine

Of all the reasons to hate Mitch McConnell ...

Mitch McConnell walking through the halls of Congress. He is legit sulking in this photo.
Win McNamee/Getty Images

Republicans have begun to turn on Senator Mitch McConnell over his support for Ukraine.

The Senate minority leader on Tuesday reiterated his support for Kyiv as it fends off Russia’s invasion. He also urged Congress to pass the $1.7 trillion omnibus spending bill, which includes $45 billion in new emergency funds for Ukraine.

“Providing assistance for the Ukrainians to defeat the Russians, that’s the number one priority for the United States right now, according to most Republicans,” McConnell told reporters. “That’s sort of how we see the challenges confronting the country at the moment.”

Republicans went off on McConnell’s words.

Representative Marjorie Taylor Greene accused McConnell of forgetting about constituents struggling under inflation, while Representative Chip Roy argued that the additional funds to Ukraine were too much and shared a Breitbart article criticizing McConnell.

Fox News contributor Lisa Boothe suggested sending McConnell to Ukraine, and former Newsmax and OANN correspondent Emerald Robinson said the senator was being deferential to “the Swamp.” Conservative news outlet The Federalist ran an article headlined, “GOP Can’t Be Successful Until Mitch McConnell Is Gone.”

Representative Kevin McCarthy, who is seeking to be the next House speaker, has already indicated Republicans will sharply cut back on Ukraine aid once they take control of the chamber.

There are many reasons to dislike McConnell, such his continued enabling of former President Donald Trump, his refusal to take a firm stance on the January 6 insurrection, and his opposition to basic human rights. But his continued support for Ukraine—a sovereign nation trying to fend off an unprovoked attack on its democracy and independence—should not make that list.

Three Things to Know About the Patriot Missile System Biden Plans to Send Ukraine

The United States is set to send a Patriot missile system to Ukraine, a major escalation in U.S. support for the country.

Peter Mueller/Bundeswehr/Getty Images

The United States will send $1.8 billion in military aid to Ukraine, including a Patriot missile system, the White House confirmed.

President Joe Biden is expected to formally announce the package on Wednesday in a joint press conference with Ukrainian leader Volodymyr Zelenskiy.

The Patriot system includes a missile battery and precision-guided bombs for Ukraine’s fighter jets. Here are three things you should know about why the Patriot missiles are important.

1. What is the Patriot missile system?

The Patriot is a surface-to-air guided missile system capable of targeting aircraft, shorter-range ballistic missiles, and cruise missiles. The entire Patriot system includes radar, a control station, computers, and generators. It requires about 90 soldiers to operate and maintain, although only three are actually needed to fire it. The Patriot battery is a launching system that can be mounted on a truck and includes up to eight launchers, each of which can hold four missiles.

It’s not clear when the Patriot will arrive on the front lines, because U.S. soldiers will have to train Ukrainian forces on how to use the missile system. The training is expected to take place in Germany and could take several weeks, according to the AP.

2. This marks a major escalation in U.S. aid to Ukraine.

Ukraine has repeatedly asked its Western allies to send more advanced weaponry to help it fend off Russian attacks. The Patriot is the most advanced surface-to-air missile system that the West has sent Ukraine to date.

Russia has already warned that sending the Patriot to Ukraine would be considered a provocation, opening up the missile system and any crew accompanying it as fair targets for Russian troops.

But the Biden administration is clear it does not want to escalate conflict with Russia. A senior administration official, speaking anonymously, told reporters Tuesday night that Biden wants to “lean forward and be robust in our support for Ukraine … but we are not seeking to engage in a direct war with Russia.”

3. Will this turn the tide of the war?

Unfortunately, the Patriot is unlikely to deliver a decisive victory to Ukraine. Despite its high-tech status and military benefits, it does have its shortcomings.

A former senior military official, speaking anonymously, told the AP that the Patriot system is highly symbolic and will be useful against short-range ballistic missiles, but it won’t immediately turn things around.

The Patriot system has a long firing range but limited scope. Usually, Patriots are deployed in a group, but Ukraine is only receiving one. That means the Patriot will be able to protect a military base or part of a city, but it won’t be able to defend an entire city such as Kyiv, which has been under heavy aerial attacks targeting the capital’s energy grid.

The system would be able to detect and destroy certain ballistic missiles and aircraft, should Moscow launch such an attack on Kyiv, but Russia has lately favored smaller (and cheaper) drones. Using a Patriot missile to take down drones would be neither cost-effective nor efficient.