Elon wants your vote

Hey y’all, it’s Austin in Los Angeles. This wasn’t the first time Elon Musk used a Twitter poll to justify a business decision, but first…To [View in browser]( [Bloomberg]( Hey y’all, it’s Austin in Los Angeles. This wasn’t the first time Elon Musk used a Twitter poll to justify a business decision, but first… Today’s top tech news: - Amazon is being sued over traffic accidents involving [speeding delivery drivers]( - Meet the head of [Tiger Global’s VC business]( - Crypto stocks are rallying despite [rocky earnings]( Democracy according to Musk Elon Musk [tweeted out a controversial poll]( on Nov. 6, asking his followers whether they supported him selling 10% of his stock in his electric-car company, Tesla Inc. The world’s [wealthiest person](, who has [come under scrutiny]( for his tax contributions, framed the question as a part of the public debate about the ultra-rich paying their fair share. Over 3.5 million Twitter users (and presumably bots too) soon voted, the majority in favor of the proposal, and Musk appeared to begin following through last week by selling more than [$5 billion]( of his stock. There was just one hiccup in the seemingly democratic process: Regulatory filings show at least some of those transactions were [pre-arranged in September](, weeks before the Twitter poll. Elon Musk has used public polls before to win buy-in for plans he likely would have moved forward with regardless of outside support. It’s a clever way to spread around the corporate responsibility, as if the only reason Musk proceeds with his oft-risky bets is because he’s simply following the will of the people. For example, last year he asked: Should [Tesla open a Gigafactory in Texas](? “Hell yeah,” voted 80% of Twitter participants. Should he a [create a website]( to rate news accuracy and give credibility scores to journalists, the very ones that are scrutinizing Tesla? About [88% of the 681,000 votes went in the affirmative](. As my [Bloomberg colleagues Dana Hull and Ed Ludlow noted on Friday](, there’s a sense among retail investors and fanboys that Musk has democratized ownership of Tesla stock, even while he remains Tesla’s largest shareholder, has extraordinary control over the company’s future, and commands a potent influence on social media. Given the sway he has online, it’s not surprising he often gets what he wants when ballots are cast. Part of the problem with these unscientific polls and Musk’s other meme-heavy tweets is that it’s unclear when he’s serious and when he’s just trolling or opining, a blurred line that has [gotten him in trouble with the U.S. Securities and Exchange Commission](. “Do you want Tesla to accept Doge?” he [asked]( in May, in reference to [the cryptocurrency he’s supported](. Roughly 78% voted yes, leading analysts to wonder whether the company would actually sell its cars in exchange for an altcoin with a wildly fluctuating valuation. Musk’s love of polling dates back even before these tweets. In 2016, he dabbled in a more formal and consequential form of corporate electoralism. Musk was trying to push through a multibillion-dollar acquisition of SolarCity Corp., the struggling solar company he co-founded with his cousins. The two corporations held a shareholder vote on the matter—which came, incidentally, just a few weeks after Musk unveiled a [magic-looking “Solar Roof” product]( he heralded as one of the major upsides of the proposed merger. About [85% of voters said they were in favor of the acquisition](, a statistic I heard cited over and over while reporting on the deal, as if to give cover to Tesla execs and board members for a questionable strategy. In other words, the people had spoken! Never mind the [eye-opening revelations that came out after the vote]( regarding self-dealing, SolarCity’s liquidity crisis, and the fact that Musk’s Solar Roof was still many years away from achieving the functionality he had touted on stage before the merger. A subsequent [shareholder lawsuit related to the deal is still ongoing](. After posting his latest Twitter poll, which preceded the sale of billions of dollars of Tesla stock, [Musk wrote](: “I will abide by the results of this poll, whichever way it goes.” Inevitably, the vote went in Musk’s favor. —[Austin CarrÂ](mailto:acarr54@bloomberg.net) If you read one thing President Xi Jinping delivered the first doctrine on Communist Party history by a Chinese leader in 40 years, giving him the ability to potentially [rule for life](. Xi has previously [vowed to expand]( China’s advanced manufacturing and semiconductor production while reining in homegrown technology giants for apparently not acting in the national interest. Meanwhile, some bullish investors have signaled that the worst of China’s tech crackdown is [likely behind us](. Here’s what you need to know Rivian Automotive shares have [soared 67%]( since the EV startup’s initial public offering last week. It’s now the biggest U.S. company by market value with no revenue, and is about a 25% gain away from overtaking Volkswagen AG in market cap. The chip shortage has sparked a war of words between European Union officials who are [debating how to overcome]( the dearth of available semiconductor supplies needed to produce everything from cars to consumer electronics. Peter Thiel and Cathie Wood are said to be among those who snapped up shares in Mynaric, a German [laser-communications firm](, as part of its $66 million U.S. listing. Follow Us More from Bloomberg Dig gadgets or video games? [Sign up for Power On]( to get Apple scoops, consumer tech news and more in your inbox on Sundays. 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