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I was very close to going short on Tesla yesterday. Very glad I didn't in the end. The fundamentals of the company are absolute trash, yet the stock price is through the roof year after year. One day the crash will be epic.
Tesla also announced they will be discontinuing the basic lane keep + adaptive speed cruise control they helped pioneer in cars sold going forward. But this is now a standard (free) feature even in basic vehicles like the Toyota Corolla. Why would they intentionally cripple their vehicles to the point hat they would be inferior to most cars today? Then I learned that Musk's incentive pay has a 10 million full self-dr…
BYD is slapping the EV industry around like a gorilla, Tesla simply cannot compete in any meaningful way. Waymo has achieved profit per unit and people are happy to see driver-less taxis in their city and pay for the service. Tesla also cannot justify valuations based on automotive sales/subscriptions alone - they were always going to have to pivot. They're in a tight spot and they need to do something drastic.
I have to admit, I love my model S and have been very bullish of TSLA but this news makes me very bearish. There is no way they are going to make robots at scale in the next 5 years and the model s and model X are cool pieces of technology. If they dont start rolling out robotaxi extremely quickly to new locations, I cant imagine the stock going anywhere but down.
If you said 1 year okay I would believe you. But have you seen the advances in AI recently...? And the work done in robotics by other companies like Google and Figure? 5 years is definitely doable.
Now he's going all in on self driving. It's obvious that self driving turns personal transportation into a service business. So that's where he's going. Yeah, if you don't believe in self driving then it's suicide. But if you do, it's the only thing that makes sense.
The author said he saw Tesla prove that EVs were profitable, but it was profitable when taxpayers gave it $7,500 per vehicle sold... That's the whole profit margin on higher-end cars, and more profit than most mass-market makers get. EVs were never profitable.
Tesla also announced they will be discontinuing the basic lane keep + adaptive speed cruise control they helped pioneer in cars sold going forward. But this is now a standard (free) feature even in basic vehicles like the Toyota Corolla. Why would they intentionally cripple their vehicles to the point hat they would be inferior to most cars today? Then I learned that Musk's incentive pay has a 10 million full self-dr…