Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk
Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.
Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.
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However, analysts said the event was short on detail and also expressed disappointment over a lack of specifics about other Tesla projects. Musk has a history of making grand projections about upcoming products and failing to follow through in the timeframe he has set, or at all.
Awe shucks. Tesla should boot out Dork MAGAT and bring back Eberhard and Tarpenning. When Leon leaves, then I will consider a Tesla.
Leon?
“Boeing had a little hard time, so they are going to save — Leon’s going to send up a rocket,” Trump said. “He looks forward to it. That’s all he thinks about is things like that.”
I guess Leon likes being treated like a little kid going to summer science camp
Ah, how I love good news on a Monday…
one of my old computer science professors said self driving cars “have been 5 years away for the past 20 years”. still rings true to this day
I agree with your professor. It’s one of these things that people have a hard time understanding. A lot of folks can easily imagine the end-state, but have no clue what has to be solved to arrive there. A lot of folks think that projects in electronics, software engineering, computing, etc. are just a linear march from beginning to end; failure is a human or resource problem. In reality, there are problems out there that get exponentially harder to pull off with linear inputs, which is much harder to imagine let alone a great way to scare off investors.
In this case, the framing of the problem is all wrong. We’re not trying to solve “a car that drives itself” (e.g. autopilot). Instead we are “simulating human sensory organs and cognition in order to pilot a vehicle without catastrophe or injury.” The latter is much harder to solve, but IMO, is a much more realistic portrayal of the job.
Self driving cars and net positive fusion, same same
Oh nobody’s predicting net positive fusion anytime soon. There’s huge materials hurdles in both magnetic confinement and inertial confinement while also regenerating tritium. Neutron radiation just does not play nice.
Tesla is no longer a serious company, Elon’s brand has gone from tarnished to trashed. TSLA might be holding on for dear life but ELON is a penny stock now
More like after Elon’s failed performance at the Trump rally, foreign “investors” pulled their money from Tesla
Musk: “I have concepts of a car.”
Analysts: “Is this ‘car’ in the room with us right now?”
Even at face value, that’s still a massive red flag coming Musk. He gave us a concept of the cybertruck that actually looked pretty badass; then delivered a vehicle straight out the Playstation 1. Any concept he pitches can be assumed to be complete bullshit.
Lol this thing with a heavy battery would flip over at the mere sight of a bump, and everyone would die inside
The center of mass is lower due to the battery, so I’d say the opposite is true.
I was going to make a smart ass comment about how bad the Cyber truck is at off-road stuff but it turns out it’s actually hard to tip over even with the chassis above the centreline of the wheels
That thing looks AI generated. Better than what we got but still ridiculous. I mean, it’s huge but still somehow doesn’t really seem to have much space for passengers or cargo at the same time
Also, why is the cabin aerodynamic while the hood is not? The whole thing is nonsensical
it’s huge but still somehow doesn’t really seem to have much space for passengers or cargo at the same time
So like all modern pickup trucks?
No, a lot worse
the thing we got is unique, that thing looks generic and car shaped as opposed to boxy and finger crushing
You’ll also notice it’s gold colored. Direct homage to trumps tastes.
It might not be a particularly new insight, but I find it worth repeating anyway: Musk truly is the new Ford. Runs his own company in the ground and has a hard-on for fascists.
With a bit of Edison thrown in for good measure. He’s constantly claiming to have invented things or founded companies that he had nothing to do with.
Finally, some good news!
Deport Elon to Mars
For clarity, this means the stock is back to the price it was in September. I know car-man-bad but I get tired of these sensationalized articles that are only shared because they confirm that someone we like is bad actually
Tesla: “hay guys we invented the bus, but cyber”
that’s really Something isn’t it
Oh please let us see Elon lose all his fucking money because he’s a gigantic ass hat.
We can dream, now that he’s tied his name to Trump it’s not as unlikely as previously.
A two seater with lambo doors that look like they’ll immediately get sheared off by a passing truck that can’t see them. A laughable delivery timeline. And the “concept” bus looks like a Dustbuster that’ll get stuck in a pothole or on top of a speed bump with its current ground clearance. It’s almost like he’s deliberately trying to tank the stock making all this impractical shit.
But, the cybervan can carry 20 people, revolutionary!!!
A whole sports team.
Go sports!
Its a freaking “shitty” bus without a poor person as a driver.
His innovation is that he hates people. Doesn’t seem that new for rich people actually.
Edit: comparing it to a regular bus is too generous.
Being surrounded by yes men and snorting buckets of cocaine will do that to you.
Elon musk extended family will own the entire Mars facility production and open hell portal?
Tesla and Elon are one of the reasons why I don’t but individual stocks but I rather get indices… It’s just the lack of consistency and the fact a single person can make you lose money…
I’m just getting into stocks. Would this be a good time to invest now that it’s low?
Tesla is a so called “meme stock” detached from how a company is actually performing. I’d say avoid it if you’re looking for “steady” buy and hold investing instead of (high tax) daytrader style gambling.
Investing is where you buy into market trackers and have no more than a couple of percent in any given company.
What you’re talking about is gambling.
Gotcha. Would now be a good time to gamble?
It might be a good time to invest in a high grade bond fund. Or emerging markets bonds if you want higher return.
depends on how much faith you have in elons ability to bullshit the masses. I wouldn’t do it, but some have gotten money off that gambit.
Possibly. If Trump wins what are the odds on him letting Elon’s crappy self driving cars be road legal as a thank you for all the election interference? But then what are the odds on Trump doing what he always does and abandoning everyone at the first sign of trouble. What if Trump loses?
It’s a lot of ifs. Don’t bet more than you can afford to lose is the only advice I can give.
The stock price/earnings ratio is still quite high. So based on fundamentals it’s still not a good buy. Instead, you’re gambling that in the future you’ll hear more unexpected good news from Tesla than unexpected bad news.
Personally, I wouldn’t take that bet.
Do you actually believe anything he said is true? Follow-up question, are you literate and do you have access to the internet?
