Becky Peterson
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That means that other investors, management, people who buy SpaceX shares on the market, they will have basically no say in what happens at the company.
You won't be able to remove Elon as CEO and you won't be able to get anything changed without his approval.
He has one billion shares that ride on his ability to make a permanent human colony on Mars of one million people.
And it's just so out there that it's almost hard to believe.
But they're saying, OK, if you actually do this crazy thing that you've been saying you're going to do, we'll reward you for it.
But Wall Street isn't really that interested in these numbers.
Tesla is in a moment of transition where they say pretty clearly their electric vehicle business is not the focus.
This is big news because Wall Street had been expecting Tesla to be making really heavy CapEx investments.
This quarter, the CFO reiterated that they'll be spending $25 billion on CapEx.
Their focus is on getting the new products up and running.
Those products, which are autonomous vehicles, the Robotaxi ride-hailing app, and humanoid robots, which they're calling Optimus.
The pitch Musk has made is that you will be able to step into your Tesla, enter an address and go to sleep, text, eat a meal, just live in your car as if you have a chauffeur.
And that's what people don't quite have yet.
The unsupervised version of full self-driving isn't something that any customers have access to right now.
The pitch Musk has made is that you will be able to step into your Tesla, enter an address, and go to sleep, text, eat a meal, just live in your car as if you have a chauffeur.
And that's what people don't quite have yet.
They're not able to get away from the customers who want access to this technology.
These are customers who bought the car in 2017 or 2019 and paid for this lifetime upgrade and then didn't get the service because the technology wasn't ready, despite what Tesla and despite what Musk said.
Now there's the question of, are these people going to buy new Teslas?
How do they feel about the brand?