Plus: Who are the real FTX victims? [Bloomberg](
Follow Us [Get the newsletter]( This is Bloomberg Opinion Today, a life-size cutout of Bloomberg Opinionâs opinions. [Sign up here](. Todayâs Agenda - Tesla [needs an activist](.
- Teams [Transitory and Structural]( are still fighting.
- Scrutinize claims of [FTX victimhood](.
- Someday maybe women could get [health care in hospitals](.
Tesla Needs Adult Supervision If you were the CEO of the worldâs largest electric-vehicle company, the value of which had plunged by 60% this year, largely because of concerns your social media website is distracting you, cutting your personal wealth [in half](, would you: - re-dedicate yourself to running the EV company, making sure every public action and utterance is about only that; or would you
- sell billions of dollarsâ worth of your EV companyâs stock despite [promises]( not to, possibly to [bolster]( the finances of your social media website;
- post alt-right memes and âjokesâ on your social media website and [fire]( executives who tell you not to;
- ban critical [journalists]( from your social media website on a whim;
- show up at a [live forum]( on your social media website to argue about the bans;
- [cancel]( all future live forums on your social media website because reasons;
- host a [poll]( on your social media website to decide how long journalists should be banned;
- ignore the results of the poll on your social media website and host [another poll](;
- post [flame emojis]( on your social media website to far-right accounts mocking the banned journalists;
- spend the next day on your social media website discussing the bans some more; andÂ
- start looking for [new investors]( for your social media website? If you answered 2-11, then Iâm sorry to inform you that you are Elon Musk, who has done most of those things in just the past 24 hours. Stunningly, shares of his EV company, Tesla, are falling again. At many other struggling companies, an [activist investor would have swooped in]( to clean up this mess by now, Liam Denning notes. But Tesla is a special unicorn, whose CEO is a god-king with robust defenses against investors. One of those is a board made up of Elon Muskâs brother, several mannequins and a life-size cutout of Michael Jordan riding a [model train](. Good luck getting any influence there. Another defense is the still-ludicrously-high price of Teslaâs stock. Once Musk hoped the company would be worth twice as much as Saudi Aramco. Now itâs barely worth more than Exxon Mobil, Liam notes: Exxon eventually succumbed to an activist, which helps explain why its line has been moving consistently up and to the right. Tesla should be so lucky. Read the [whole thing](. Fed Fight! Since the earliest humans first huddled around fires and told each other stories to fend off their fear of the wilderness beyond, they have spoken of a fundamental struggle pitting shadow against light, wrong against right. Iâm talking, of course, about the eternal conflict between Team Transitory and Team Structural. Older readers may remember it from as far back as early 2021, or âearly 2021,â as the language was spoken then. The records are now mostly lost to time. But in those days, legend has it, Jay Powell bore the standard for Team Transitory. In so doing he led the US economy into an age of great darkness, or âearly 2022,â as they once called it in their rough tongue. The [bitter struggle continues to this day](, John Authers writes. Except now Powell â completing a classic character arc the scholar Joseph Campbell once called âthe old switcherooâ â is leading Team Structural, fighting inflation long after markets have sued for peace. Who will prevail? If weâre lucky, we might find out in a distant future called âearly 2023.â Bonus Central-Banking Reading: We could start seeing [rate cuts next year](, possibly starting in South Korea. â Dan Moss The Real FTX Villains Were the Friends We Made Along the Way You could argue that, in every financial debacle or fraud, there are victims and there are perpetrators. It always stinks to be a victim, but when people start assigning blame, it may seem preferable to the alternative. The FTX debacle/alleged fraud had several perpetrators and many, many enablers, some of whom ended up technically being âvictims,â in the sense that they lost a bucketload doing business with FTX. Now that weâre sorting through the wreckage, Lionel Laurent writes, they are [strictly identifying as victims](, perhaps hoping weâll forget how they should have known better and maybe even could have averted a bigger disaster. They donât deserve all the blame for the FTX meltdown, but then they donât deserve any sympathy, either.          Telltale Charts During the decades when abortion was legal throughout the US, we shunted it out of hospitals and doctorsâ offices and into clinics where we wouldnât have to see it. Now that [abortion rights are disappearing, clinics are overwhelmed]( with traffic from states where the practice is outlawed, Sarah Green Carmichael notes. This leaves many women without health-care options even in states where abortion is still mostly legal. Abortion is health care. Why canât women get it in health-care facilities? Rishi Sunak may not want to reward striking UK nurses, but he canât ignore their [low pay and abysmal working conditions](, writes Therese Raphael. Further Reading Gary Gensler proposes [sweeping changes to stock trading](. Itâs not clear itâll be worth the effort. â Bloombergâs editorial board The [GOP thought police]( are coming for the asset managers. â Beth Kowitt [Iranâs regime could be coming to an end](, with massive implications for the region, the US and the world. â Robert Kaplan [UK stocks look]( too cheap. â Merryn Somerset Webb [Florida's home-insurance bailout]( doesnât go far enough. â Jonathan Levin The [pandemic boom in furniture-buying]( is over. â Leticia Miranda Itâs OK to [charge your adult kids rent]( when they move back home. â Erin Lowry ICYMI As Liam Denning [suggested]( this week, the US will [buy oil to refill the SPR](. How the worldâs biggest shipping company [ended up running drugs](. The winner of this yearâs Nobel for economics has been [accused of sexual misconduct](. The [worldâs biggest hotel aquarium exploded](, sending 1,500 fish into the lobby. Kickers How much [Covid is in your townâs wastewater](? Somebody put an [AI in an old typewriter](. Bestselling [books are shorter than ever](. Kids these days [donât even want phones](. Notes:  Please send haunted typewriters and complaints to Mark Gongloff at mgongloff1@bloomberg.net or @markgongloff@mastodon.world [Sign up here]( and follow us on [Instagram](, [TikTok](, [Twitter]( and [Facebook](. Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. Before itâs here, itâs on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals canât find anywhere else. [Learn more](. 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