Wall Street investors and analysts focus heavily on the bottom line. Elon believes that the work Tesla is doing requires more time, sustained attention, and focus than public investors have tolerance for. Furthermore, he thinks the volatility demotivates employees.

These are all completely true, and very reasonable, but do show (at least to me) that the near-term promises regarding profitability he made at the last earnings call are probably in jeopardy.

Thank you for asking for a clarification rather than just knee-jerk down voting, though. :)

It means he’d rather not be under the scrutiny of wall st investors. He thinks the volatility is off-putting to his employees. He thinks wall st isnt forecasting correctly or is short-term focused. These are his reasons.