The whole point is new buyers..
People are protesting Musk. Something like 75% of Musk's current wealth comes from Tesla stock.
Tesla stock is going down.. so it is helping the cause
People are protesting Musk. Something like 75% of Musk's current wealth comes from Tesla stock.
Tesla stock is going down.. so it is helping the cause
Which makes sense. The company sold to left-leaning, environmentally conscious buyers, and the CEO has now rebranded Tesla to basically the worst thing for that demographic. Sales are down, resale values are dropping, and insurance rates are rising. And there is no real opportunity on the horizon to save the company and/or the brand (robotaxis without LiDAR..?)
Maybe it looks like scorched earth on reddit, but in reality it's just a lot of people realizing the brand has self-destructed.
It's even more confusing, who are they supposed to sell it to, if no one should drive these cars (and how big of a loss are they expected to take in order to sell it)?
This whole thing is about destroying already bought vehicles to intimidate potential new buyers, and thus lowering future sales. Not that I support the vandalism, but I think that's the kind of logic they are applying here.
I also see reports of some Tesla making it to 500k miles. Honestly there is so much nonsense on both sides and you can't even trust any numbers coming out of Tesla because they have distorted the truth so many times.
In case of Musk, if those protests work and as you say 'the jig is up', he can go from the richest man on earth to bankrupt in a space of months.
He is very 'cash poor' and has pledged a lot of Tesla shares as collateral to fund his other businesses.
If Tesla is priced as an automaker (shares would be in the ±10-20$), Musk will be bankrupt.
Then what? “We win” somehow? Nailed it?
Who cares?
For me, it will be the end of the biggest con, the stock market has ever seen. And I can't wait to read about the details behind it, once the dust settles.
Some say Tesla shouldn't be valued as a car stock; it should instead be valued as a Tech stock. Well, Tesla traded at a P/E about 4-5 times that of NVIDIA which itself had a high P/E compared to the other Magnificent 7 which in turn have a high P/E compared to the stock market in general.
What exactly is Tesla so great at that they deserve this enormous valuation? Its P/E has gone down to ~110 now, bit this is still incredibly high compared to e.g. NVIDIA which is trading at a P/E of ~40.
Tesla sold millions of cars that were supposedly going to become Robotaxis with a simple software update, somewhere in 2019. SIX YEARS AGO. Tesla even showed screenshots of a ride-sharing app. SIX YEARS AGO. Now it's obvious to anyone, that those cars will never become Robotaxis, as Tesla pivots to trying to fake a Roboataxi service this year, with remote operators.
But the greatest con of course, was towards investors. Of course nobody is complaining now, since the stock is still a meme stock. Just wait a bit more...
It's overpriced and not available where I live, but I'd love one. It doesn't do everything under the sun as promised, but I'd rather drive less than more. The basic 10 year old Autopilot is already huge help.
I'd say it's about 80% delivered. Far from a con.
Do you seriously believe the company was valued at >1T$ because investors believed that an "FSD 80% delivered" is enough ?
Tesla and Elon claimed ALMOST 10 YEARS AGO, that the car will drive itself from Los Angeles to New York. Just think how insane this is, even today. And then look up the state of their technology 10 years ago.
Of course self driving will be solved one day. Probably not by Tesla. But it doesn't matter - they were selling this stuff for almost 10 years already, knowing perfectly well it doesn't work. But hey, next version will blow your mind !
I’m tine if you call it “some self driving”, I don’t care. I’m not going to put my car as a taxi, that’s stupid.
So yes, we would very much win and there are a lot of people who care.
Legitimately, Teslas have been the best cars I've ever owned, but thanks to Elon, I will never buy another one, so long as he runs the company.
* - not you, Cybertruck
That does not take into account that they are increasing the market size themselves with Starlink.
And with Starlink it remains to be seen if that can be profitable. I doubt it. The Starlink satellites deorbit every 5 years and need to be replaced (CapEx+++).
This is compared to the trillion+ EV market.
Both Starlink and Starship are >$5B programs. SpaceX has not raised nor borrowed near enough money to fund both of those programs, indicating that they've got sufficient cash flow to mostly self-fund both of them as well as pay the salaries of >13,000 employees.
He's been telling about Mars for _2 decades_ and people somehow think he's a nazi about to pull off ethnic cleansing.