What the Analysts Missed | Tesla Q1 2024 Earnings Call
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I’ve said before: Cars are to Tesla what books were to Amazon.
Damn fine analogy.
BTW - I now have 66,000 miles on my 2022 Long Range Model 3 .. maintenance- 1 gallon wash fluid, 1 set of tires. My range has gone from 340 miles to 330 (- 10 miles) in just over 2.5 years of driving ; I supercharge 80% of the time 👍👍👍
I have a 2022 Model 3 rwd. 35k miles. 4 gallons of washer fluid and just got wiper blades and tires.
Might have to invest in wiper blades soon…..
Similar, but have mostly home charged my 2021 M3 LR in Australia. Spent $1,124 on energy in the last 12 months, petrol equivalent $2,212, savings $1,088 (savings actually greater, because we have solar). Maintenance so far? Rotate the tyres, change the cabin filters, less than $100 since 2021.
Gas cars lose range over time as well, for sure.
They openly called it the Cyber cab.... Keep up guys!
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You hit the nail on the head when you said that this is the end of the era of Tesla cars. It is now morphing. It is turning from a caterpillar into a butterfly!
I'm a fan of Tesla in general, but Elon's words don't seem consistent. Sometimes he says FSD will be worth more than everything else combined. Other times he says it's energy. Now he says it's Optimus.
I think one thing that really separates Tesla's Ai from other common Ai that we are seeing today is the level of real world not junk data. We're already seeing these LLMs and creative generators being tainted by the massive inflow of Ai generated content online in a positive feedback loop. But Tesla doesn't have to worry about junk data at all because every single video they get is new and REAL and useful, and that is invaluable
Very important point. Invaluable to say the least.
I've said it elsewhere but LLMs are trained on huge sets of data including junk and then expected to perform a task that has nothing to do with most of that data and far in advantage of the fitness function it was trained on. Predicting the next word in a bunch of text, if you give it massive amounts of compute, just happens to do a good enough job to fool humans into thinking it can do everything that involves writing, including accuracy and consistency, but they can't fact check or stay consistent beyond a certain window.
Tesla FSD is trained only on a huge set of the data it needs for its input (cameras) and output (movement of the controls) and additionally through simulations. It is learning to map what cameras see, plus some context awareness and recall, to how to react to the conditions, which is exactly what the human drivers in the training data do using their eyes. Tesla's FSD isn't some mysterious emergent ability that's tangential to the thing it was trained on.
The future is so bright we gotta ware shades 🕶️
Welding goggles like the moon eclipsing the sun. As Tesla is eclipsing the OEMs.
Ironically, a horse-and-buggy was self-driving haha. (With a well-trained horse anyway). We're finally getting back what we had 100+ years ago.
Yeah, but the horses really got pissed when you tried to plug them into a charging cable. 😂
The robo taxi is going to be called "CyberCab" Elon said it by mistake during the call, but no one noticed it.🔥
Other channels noticed, farzad was going insane about it.
@@635574 Oo I didn't see it
EVERYONE noticed.
I think the van built on Cybertruck chassis will be CyberCab and the rest of fleet will be RoboTaxi
I think the van built on Cybertruck chassis will be CyberCab and the rest of fleet will be RoboTaxi
Why is nobody talking about solar roof tiles anymore. Are there any new developments and cost reductions in the Tesla solar roofing technologies. What happened to the promise creation of various different roof tile styles and colors?
Tesla energy just released V3 powerwall. I’ve actually seen this on legacy media. Unfortunately a lot of people just live in a dream cloud and don’t pay attention to most things.
FSD still needs work, i have it for the free month on my model 3, i still have phantom braking events, it has tried to cut off other drivers, and cant stay in the lane (if the markings are worn off) but since i travel the road, i know exactly where it's going to mess up, and intervene, the problem areas need to have manual correction, if it was a human driver, they may mess up once, but the next time they would remember not to do that next time at that spot, but the car has to be reprogrammed to address it, so it continues to make the same mistakes. of note i am still on the same version that i started the month on, 12.3.3 and have not received any updates.
I have a 2018 Model 3 and am currently on FSD 12.3. The main thing it doesn’t do correctly is stay out of the "Bus Only" lane. When I correct it, I make sure to press the right steering wheel button and record a voice memo to Tesla describing what the car did wrong in hopes it will get fixed faster. Today, when I visited the "Software" tab in the car, it began checking for updates and then it stated that 12.4 is available for download. Looking forward to installing it!
I meant to say 12.3.4 is now available for download.
Blasphemy! May Elon smite thee! A blight upon your house! Jk.
FSD won't be ready for another decade or two or more. The earnings call was just more stock pumping promises. I can't believe people fall for it. Though, I suspect a lot of the buying was Cathy Wood, another fraud. Elon's list of unmet promises keep stacking up. It's a joke that Nikola has delivered more semi's than Tesla. FSD will be on the cusp of true autonomy for the next decade at least. It's hard to convince a man of something when his stock portfolio dreams depend on him not believing you.
FSD (in some form) will be a standard safety feature on all cars with in 10 years. Insurance co push for its widespread adoption.
Beat expectations = stock drops. Miss expectations = stock jumps!
It sounds like you don't believe the stock market is manipulated at all. Maybe you should watch dumb money.
@@briandoe5746 O I know and have seen Dumb Money. This was more of a joke as to Jessie said they missed their mark so the stock would be taking today (the day after earning).
More discussion needed: the CyberCar and CyberCab!
Pam here….did Elon actually call RoboTaxi CyberCab?? Changing the lingo??
Jesse, have you ever thought about doing voiceovers for cartoons!!🤣
By new vehicles I hope they mean a less expensive S+X and/or a larger 3+Y variants. A CyberVan/SUV would be cool too.
There is an old saying by unions: If employees are treated and paid fairly, then there is no need for a union. While I do not have insider knowledge about Tesla's current layoffs, if the reasons and methods are not fair, then Tesla employees will start looking towards unions for help.
Really good show. Thanks.
Why would they get to use my car for their profit? If they use my car to compute something I should get paid.
Supervised FSD trial has been very good for me. So I plan on subscribing for my upcoming 850 mile trip.
Right now Tesla is a car company, with 90% of its revenue coming from auto sales. Regulatory credits make up a tiny fraction of its revenue. As does stationary storage.
No mention of insurance. CA insurance keeps me from driving a Tesla. Also, If FSD is so safe maybe no rate hikes if accident occurs while in FSD. Insurance for Tesla is just too high in CA. I would have thought there would be s lot of discussion of that portion of the Car Company.
CA can stand for California, Canada, Central America
I JUST SAW MY FIRST CYBERTRUCK DRIVE THOUGH MY LITTLE TOWN!
7:56 Robo-taxis will be Tesla’s best sales tool.
Here's a new twist guy's, Tesla will offer super low rates never seen before for a brand new car, but only if the car is always on FSD! lol As soon as you drive on your own it's like a taxi, the meter is running on the price of your insurance?
Great show. Thank you.
Funny it went up.. but agree. I thought it would fall and it would be the time to load on stock
You are the best 🔥🔥🔥
Top5 for sure
FSD is making great progress. Tesla should allow owners to add FSD to a second owned Tesla family vehicle at a discounted price.
Someone that has purchased FSD should have a transferable license and be able to use it on multiple family vehicles.
Why has there been such a long delay to updating or refreshing the Model S and X interiors with the new ambient lighting.
Many people are holding off buying a new Model S or X while waiting for the new features. Why the slow roll out ?
The focus on FSD is great but the cars need timely updates to their features. The slow roll out hurts sales.
New features need to be rolled out promptly and not dragged out. The lack of focus on the Model S and X is hurting volume sales.
All the costs for research, development and amortization of manufacturing equipment for the S and X should be written off by now.
It is time to lower the prices of the Model S and X to reflect the reduced costs and increase sales volume. Glad to see the price drop by $2000
Should be more like $5000 drop. You need to be able to pick a desired exterior color and interior color and still be eligible for the IRA $7500 tax cut.
Missing out on the $7500 tax cut because you chose to pick an exterior ($1500) and interior color ($2000) is just crazy.
Here’s something to cover and that’s Ev insurance in cali my insurance company Kemper quit doing business in ca this month when my insurance agent tried to get another quote my monthly payment would have went from 200 to 300 a month to 800+ a month. There is a crisis in ca in car insurance. But luckily there is Tesla Insurance did it all online on the app got a better rate then my previous rate with Kemper couldn’t be happier at the moment. And I have a 2020 Tesla M3 Performance with 50k miles.
yep you guys were really LISTENING!
at time 13:12, the Tesla Ecosystem is missing The Boring Company.
Jesse, there is no Model 2. Tesla has not given their lower cost vehicle a name yet.
Awesome show.
Good sense of humor on the scary templates
Yesterday, 04/27/2024, California’s grid was producing 110% of demand. The surplus went to charging batteries and exports outside of California.
Ridiculing criticism worries me that it is valid. BYD seems fast and robust competition, not to mention dozens of other competitors. Electric technology is easy compared to advancing combustion efficiency or hydraulic technology. So, TSLA may still be overvalued, or at best correct.
Gentlemen takes us on a field trip in your Tesla with the FS 12... as always we appreciate the info✌️😬👍
Great job guys! I love your humour!
I want to try FSD, I have a Tesla, I live in Europe... 🙃
6:27 Yes I have tried FSD (Supervised) on a 2024 Tesla Model Y and no it is not ready for prime time. Getting better maybe but the ‘supervised’ is 100% required!
The missed point about the 4680 batteries was that they hit +1000 packs with line 1 & 2. And will ramp up lines 3 & 4 in the 2nd quarter to finish phase one to keep ahead of the truck ramp. This suggests that phase 2 of the battery line should be ready in quarter 3 to continue ramping up battery production with lines 5-8 [I presume one at a time]. That suggests +4 thousand packs per week by years end or + 200,000 per year run rate.
Boston dynamic bot has no hip action and bizarre hands... not even close to Optimus 1 but maybe better than bumble bee? Looks very heavy.
So these guys love Tesla/Elon right? I'm new to the channel.
Relatively large grid tied but fed also with wind, Tesla mega pack energy storage site now working well at the wee Perth and Kinross village of Abernethy, Scotland. Please check this out!
26:26 Didn't Elon call the robotaxi vehicle the Cybercab on the call?
Nobody is talking about how insanely impractical humanoid robots would be in the home. The simple fact that these 300 pound machines can fall or be pushed over anytime is a massive safety risk to any inhabitant of the home, especially children, old people, and pets! Not to mention what happens when their insufficient battery runs out in a place where they can't access an outlet, and there's no cranes around to move them.
……… an Walmart stopped selling extension cords
11:22 Every other OEM literally DOES commit horrible acts of violence every day by the 10s of thousands, with their ICE cars and EVs that don't have good enough safety systems to recognize people in the street and dangerous situations!
Great show. The Highlander PS kindness is always free.❤😊
Nice recap 😄
I always wondered why cars are called automobiles. Doesn’t make sense. Robotaxi is actually an automobile
Epic☀️🌴
Have you considered who would pay for insurance with self driving? Meaning if you own it and you send it off by itself and it gets in an accident who would be liable you or Tesla? Would your insurance company charge you a hefty premium or even allow it? I wonder about that.
I agree 12.3.4 is remarkable especially starting from beta back in 2019!
Wireless Tesla charging is needed and it'll change everything.
Jesse, in contrast to your opinion, I believe if in control of your vehicle in the future the difference will be that if there is a potential hazzard the cars internal systems will activate to address the issue. As is becoming a feature in new cars now.
I wish my Model Y H4 would get V12!!! I can’t wait to try it! I even paid the $99 thinking maybe it would be there!!
The PE Ratio at 40-60 range which is healthy at this EPS explaining the stock price
I forgot just how frkn funny you two are! ♥
TSLA soaring today on China's FSD news 🎉
Love the elevator analogy. Worth discussing stuck elevator scenarios. Mostly not a concern, but it happens. Comfort in knowing your Uber or Lyft driver can handle edge cases. Special inspection requirements with visible certification in most elevators I've ever been in. Unfortunately TV likes a good elevator horror story.
When CyberCab is implemented in LA, they should put a snowplow on the front.
You must have really been zoning out if you believe Tesla said the Model 2 is coming in 2025. You need to learn Elon speak and how he knew what people would think he was saying which is why he refused to give any details when pressed.
Best rants ever guys.
Hahaha. Ya lol. The analysts questions were bad. I said that right after the first question and they didn t get much better. Hauled my 20’ RV this week 1200 km with a model Y. Car performed great. 3200 lb trailer.
I'd suggest no longer being "compute limited" is alone a reason for the drop in FSD prices. Gets them A LOT more data, which they can now handle.
I've been scouring the internet for a picture of a guy driving a horse and buggy talking on a flip phone but have been unsuccessful thus far.
If they use my "compute" (ugh), they'll pay me for it. I have spent a fair amount of think trying to figure out why I, who have been a computer programmer and computer scientist since 1962, detest the conversion of "compute" into a noun.
Agree, the trend produces a lot of "annoy".
Just compare Tesla charging to the results for all the other supercharger companies.
While FSD is better than me much of the time, as it doesn't fall asleep. As a supervisor, FSD has: Cut off inside left turn lanes, curbed my rear wheel, jerkes the wheel into odd wide intersections, needs clear marking of the road,(for example, it spirals to the curb searching for a white line and freaks out when it comes back) FSD does remember and is getting better. Tesla you're welcome for my service. My version is 12.3.4. I own a Y and a 3. 56 shares of tsla. I have skin in the game. Tick tock. Will happen eventually.
You cannot just "exclude models" from Margin analysis just because it's inconvenient. It happened, it counts. They are still spectacularly high for Auto
For context, the financial analysts ain’t stupit.
By keeping vital information on the DL, they keep the per-share value of TSLA low, giving the analysts, their friends, and their families time to buy up TSLA at a discount.
Once GROK learns how to drive the semi it is over for everyone else... Pepsi is gathering the data
In the province of British Columbia, Canada, full-self driving is illegal!
went to new showroom in S.burlington vt. I drove a model y and tried fsd.. OUTRAGEOUS !!! I wonder when it will be in the Cybertruck.
When they get more DATA.Rear wheel steering is another parameter which needs input.
Great show guys. I have a suggestion for when you get the Tesla semi. What do you think about taking it on the road with a converted trailer made for living in and podcasting? You could take the show on the road seasonally.. Keep doing what you’re doing and thanks.
When next fsd test?
Impression I get is that stock analysts are only able to bet on short term predictable changes… and cannot risk betting the farm in hopes of breakthroughs. Robo taxies, ai, and robots while may be good investments for retail investors, do not fit into traditional investor’s wheel house or ability. Those guys need sustained growth to keep their funds and customers
All of us on 2024.8.x still don't have FSD 12. I'm becoming disgruntled as hell
Oh, when would it be the right time to take care of that decanter in the background? Stonk at the 1k?
about FSD - why not have an annual event.. every year, have a 3-month FSD free to all, & at the end of the 3 months, a reminder to buy the full FSD or get the $99/ month FSD.. that makes sure all TESLA owners get to experience the FSD .. 😊
If it’s not Ford that is going to license FSD, it will be Hyundai. The CEO also wanted the light show in their vehicles too, but it was going to cost too much for them to get it and take too long. CEO wasn’t happy to hear that.
cmon.. just have FSD free to use on every new TESLA for 2-3months.. then when its about to expire, remind the owners to either avail of the full FSD or continue with the $99/month, subject to price amendmnt.. this makes sure everyone experience the solution, for decisions later..
I have a Tesla and I tried FS12. It's horrible on small roads, doesn't see potholes. Will never let my car drive itself.
I have two Tesla's. One has V12 the other has not been upgraded and when I subscribe and it only has V11. No communication regarding V12 other than I don't know when V12 will be loaded on your car. Do you know how to get V12.
Auto Trader just reviewed the Performance Model 3 and liked it better than a BMW M3 and were blown away by the value proposition. Dan ODufus must be losing so much sleep
they can sell a M3P for less than 2018 prices and we brag about how great Tesla is, but when they DOUBLE the price of CT, everyone says "but inflation!" lol
rear wind screen?
what is that??
Back Window?
Boy did this age well
Looking at the layoffs and trimming, think of the union and the people that stay on just due to the union and should be the ones that are trimmed but stay on and pull down the company , year after year.
Thats not how that works.
Here's thought, August 8th - 8/8, what if China gets FSD and allows legislation of Robotaxi's (CyberCab) first, wonder how that would impact the market?
Look to Azmov's "Three Laws of Robotics" from "I Robot".
Jesse,
I have V12.3.4 installed. It has gotten better. Summon has now hit a curb twice in the last month and never had before. It has also almost hit a guard rail at 45 miles per hour had I not been paying attention. I will say there is another spot where it was always very close to the rail and I have noticed it is way better there. I think some of these issues has been my car. I think it’s cursed. Lol Sad thing is, I still love it. 😅
Can i drive ur Simi when u get it, if we find charging stations on the east coast, i can run loads from Ma To Pa, im a class A driver from Pa it's my job for now, i would love PBR asmuch as u want ur delivery for Cyber Truck
43 shares @ $193.56 a share. Baby investor. 😂❤
will you name your Optimus?
Buy a 'cyber cab' and a optimus robot. Now you are in the pizza and package delivery business.
26:50 An Asian auto maker, will be the first OEM to license FSD from Tesla. Take Kia, for example. Their rebranding is similar to Tesla’s. They’re dropping “Motors” from their name, changing their logo, and focusing more on electrification.
36:37 i will be happy to sell MY compute to Tesla for supercharging Kwh.