Tesla has to scramble to get through next 3 years, robotaxis aren't happening soon: Steve Westly
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- เผยแพร่เมื่อ 22 เม.ย. 2024
- Tasha Keeney, ARK Invest director of investment analysis, and Steve Westly, The Westly Group Founder and former Tesla Board Member, join 'Closing Bell Overtime' to talk Tesla earnings.
Investing in this economy is a hell at times for the average person that wants full control of their finances, Even investing in ETF stocks can be risky.
I gotta admit, I took a hit in the profit department with my stock moves.
The question to be asked at times is not if the government or the economy is responsible for the sudden dramatic shifts in the economy but if we are taking the necessary measures to avoid making losses no matter the situation even if the pay roll is not in your favor.
One of the reasons i follow up these stock videos is to improve the returns of my investments and i can’t really say I’ve been seeing noticeable change though …. I’ll keep following to improve my investment philosophy.
When the returns start rolling in be consistent though! It is essential to stay level headed.
I’ve been trying to better my returns of recent, on the path of creating smarter investments cause there are so many opportunities.
Tesla's stock is stuck in a debilitating downtrend and looks just attractive for a long-term investment once the short-term volatility and smoke settle. Right now i'd just like to appreciate short-term opportunities that could fetch $500,000 or less.
If you need advice on short-term investments, consider speaking with a financial advisor. They have a lot more knowledge and expertise in this area.
I agree with you mate, I have found it takes someone who is very familiar with the market to make such good picks. so i reached out to one that appeared on CNBC news in 2020.
I have not written this sort of comment before but from the your comment, I knew that you have good understanding of investing, How can one reach this advisor of yours?
She goes by ‘Jill Marie Carroll’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
2:50 they know they are lieing but still raise money based off lies . If this was any other company people would be going to jail
If you tried fsd v12, you will believe what they said.
Autonomous Driving is just like Nuclear Fusion, just around the corner. Small demonstrations with outliers, but mass adoptions decades away. At the very least, we would need to pass laws, exempting manufactures from liability in case of injuries or death due to errors in the vehicle.
Yes all these cnbc assholes don't talk enough about facts... political lobbying will be needed, adoption, and no one talks about offline reliability
Robotaxis need a huge leap in current tech AND regulatory approval in cities to operate. A lot of cities aren't going to allow them.
It's the continuing gaslighting of investors by charlatans like Cathie Wood and Elon Musk.
You buy a car for $100k to enter it into RoboTaxi when it first comes out. You start in January and by April you've already raked in $20k and you feel vindicated in your purchase. Your cars value is still quite high and nothing even bad has happened to your ride yet -- no accidents or incidents in the vehicle. But then in May something happens, you notice there are a lot of autonomous vehicles on the road when you are out. Your average price per ride is also going down and you start to panic. Maybe this car wasn't worth it after all and so you put your care up for sale. This precipitates even lower costs and steeper competition in the RoboTaxi space.
Let's make up a play example: If your CapEx is $40k for the vehicle, Annual OpEx is $4k for cleaning, $0 for charging and maintenance assuming Tesla offers this for free still, and $5k for insurance. CapEx depreciation being 10%, we are talking annual costs of $13k. This would mean that operating all day and night, you could turn that $13k into at least 1000 rides, or a marginal cost of say $1.30 per ride. Eventually, competition would cause the RoboTaxi fares to approach the marginal cost of $1.30. Let's say you get 20% on your inputs. You make $2600 per year for $40k of CapEx. Is it worth it?
Basically, even if the technology and regulations work out, the economics are completely broken. The prices are based on human operator costs today.
Last point: People don't understand why Ride Shares cost what they do or how they've reached the price point they have today.
My god - this gal is truly drinking the cool-aid with both hands. Good luck!
Alexander occasion Cortez is lunatik.
Lol yes she was on the show talking crazy a couple days ago
@@javadabaron81 and a couple of years ago when they said it would go to 2000 and then it did
@@elemenop718 lol true
Not really. You need to put your money where your mouth is. From your statement I know you have never driven a Tesla with FSD. Am I right? I suggest you go on a tesla website and make an appointment to test drive a tesla and let them show you how FSD works. Than come back and update your statement. Oh, never mind. In five minutes you will be back writing. ‘I’m not risking my life in a tesla, there is no way you will ever get me in one. Than I say who’s “drinking the Kool-aid” now. Close minded fool.
Self-driving cars are going to require scale. How does this happen in the next five-ten years when most countries require the driver to have both hands on the steering wheel at all times unless indicating or using switchgear? As for RoboTaxis? Come on. These cars can't even reverse properly yet. Even aircraft, which have had auto-pilot functions for decades, still require pilots and they don't have to put up with other vehicles passing them 2 inches away.
You act like you actually know what your talking about, even though you have not even tried FSD. The version is not perfect and definitely not ready. But the progress is remarkable. In 2 years time, it could he ready.
Agree. Most people who make comments like this have never even tried it or experienced it. They took 6 years to get 1 billion miles driven and know they are approaching 1 billion miles per month in data.
The actual accelerating progress is insane. It’s getting better and better quicker and quicker. Actually seeing the progress in my own Tesla.
Agreed, the latest Full Self-Driving (FSD) technology is impressive and shows promise for further improvement. However, using FSD while navigating city streets with kids onboard can actually heighten anxiety and detract from the joy of driving. For long highway journeys, FSD demonstrates readiness, but for everyday urban driving, its value is limited. Personally, I find the current price tag of $8k unjustified. Additionally, this software would need to exhibit a level of intelligence to recognize nuanced scenarios, such as detecting a ball rolling down the street and inferring a potential child chase.
It’s coming to trail in California by next year, start expanding in 2 year to other states, 3-4 years in every state, 4-5 years China and Europe. That’s what will happen.
I will simply paraphrase Elon. If you have not driven in a Tesla with FSD (Supervised), you just do not understand how quickly we are approaching robotaxi. I have been using FSD for a long time. It is a very good system. Once they pass 2 billion miles by the August event. The data will show it is demonstrably safer than a human driver. Regulators will have to look at reduction in accidents and fatalities and approve it. This is not going to be a difficult regulatory process. I will be shocked if level 4 is not approved by June 2025.
Just one time I'd like someone at CNBC to confront Cathie and this Tasha about the absolute train wreck that is ARK Innovation investments. It's a joke. They've destroyed more wealth than any other firm you can name and charge you outrageous fees for the pleasure.
That woman is the greatest actor to have a straight face when the price target is 10x greater than today lol
I never listen to Ark invest.
They were projecting 3000 stock price by 2027 2 years back.
When I am on FSD, I am twice more focussed to take control than driving it myself !!!
Just put out 1 Tesla driverless model in the same city as Waymo and let's see it perform.
It won’t if they could they would have already
this lady is going on every network and saying the same thing. Oh wait she is from ARK.. makes sense
This is the best time to buy Tesla stocks. When it’s in lower stock price and hold for 10yrs.
To claim that Tesla controls the charging network in Europe is totally false. There is a plethora of charging network providers in Europe so Tesla can't control or raise prices. And even if it did Tesla wouldn't be able to raise prices as that would mean that there would be even less demand for electric cars.
More CNBC FUD
Do ark invest analysts have real world commercial experience?
Tesla is now Level 2 Autonomy; Cruise is much more advanced Level 5 but they ran into accudent; How is Tesla going to catch up?
Focus on the distraction people!
ARK Intvest is clueless on the actual tech of AI and Self Driving.
Regulator needs more positive data to approve robotaxi while robotaxi needs more approval to scale up. It’s not a dead end but slow game.
The way inflation has been acting I'm confident in saying there will never be a $25k car. The reality is poor people dont want to deal with plugging in a car all the time. So thats a dead end market until something happens with battery tech.
$25k in 2022 dollars maybe.
with all the money ark has invested in tesla no surprise they keep saying its ging too
2000 a share by the time robo taxi happens around the world it will be
10 years or more and then who knows how may chines companies will also have it
Some people don't care about EV, or FSD, they just prefer to drive.......
More people prefer affordable transportation. Tesla robo taxi will be cheaper than owning a car.
Lowering price on existing car models is crazy Someone bought a car at $70k a few months ago is gonna be peeved mightily when his neighbor buy same car now for $60000! The gentleman Steven knows his business. Tesla needs to bring out a $25000 car . If a buyer wants the $70k car that is fine Every car maker has a lower price line.
Waymo already have a robotxi service fully in service in the phoenix area....where are Tesla....nowhere!!!
🚖Robotaxi 8 /8-2024 🚖
Yes they do. I appreciate them taking the hard early road through the regulatory jungle. How much does each Waymo cost? All those aftermarket expensive sensors and installation. How many cars in their fleet? How do they get to 1 million vehicles in the next 3 years. Hmm…
@@chrislivingston2356 Tesla doesn’t even have the technology for autonomous yet. Autonomy is not possible with optical only. They are 3 years behind, hence Musk saying they need to spend 10bn on it
@@peteryates7505 That is what some experts say. I am confident that FSD will prove those experts wrong.
@@chrislivingston2356the sensors that Waymo uses cost much less than they did only a few years ago. If you think a taxi service can bring in 50k per year then you recognize the upfront expense on the car becomes less important.
Don't ignore robo taxis 🤖 🚕, or you will be crazy.
You mean the hyperloop? 😂😂😂
He's not ignoring it. He clearly says that robotaxi is still years away. Nobody is going to invest in a technology that "might" be viable 10 years from now.
10 years away? You clearly have not driven in a Tesla with FSD (Supervised). Do not listen to Steve. Do not believe the articles with no research. Form your own opinion based upon observation.
You mean Waymo
What is a ‘robotaxi’? Are the Waymo vehicles robotaxis?
Apparently she’s right..
Tough market is good for TSLA for the long term, it helps to remove the weeds. As I said before, TLSA is a “higher tech” than MSFT and AAPL because we all know that computer on wheels is higher tech than computer on your laps (MSFT) or on your palms (AAPL). TSLA will be bigger than MSFT OR AAPL within 5 to 7 years!!
Elon said in 2019 robo taxi was a thing
He said that the vehicles in 2019 had the hardware
He raised billions off that statement . Fraud . Also said 2021 he will put ppl on mars and raised billions off that
Scientists are saying that the computer that controls an Autonomous Driving vehicle has the intelligences of one 7th of a housefly.
Houseflies don't have mid air collisions with each other.
@@jamesparker1071 Thats because they are smarter than Autonomous Driving vehicles.
The past couple of months, I've seen more Teslas in Brooklyn, NewYork. They the best looking vehicles out there! I want one soon
Everywhere
@@dunkhead3732 Brooklyn New York
I agree. I see more and more Tesla's here in NJ and NYC. Beautiful cars and I can't wait to get one soon.
@@binasur5560 they're literally the worst quality constructed vehicle you can buy.
$299 per month to lease.
who cares about an electric car when the charging network sucks. Even the Tesla network sucks unless you live in a city.
Why would I buy a tesla for 25,000 when I can get a BYD for 11,000?
Maybe same reason I phones are so popular yet are very expensive smart phones
Greatest company of this generation my foot
FSD caused an accident today while driving. I don’t think they would stand the legal liability of this and what about insurance? How much would it cost for a car with robo drive probably insane. The roads aren’t even equipped for it. It would take more than a decade.
Correct. The driver is responsible for accidents with FSD (Supervised). It is currently an ADAS level 2 system. How does that change the discussion? When they are approved for level 4 they have to assume responsibility. I do not understand why you made the statement.
@@chrislivingston2356 there is no driver with fsd. It's the computer and while tesla might be able to take some liability over this the other party can still come after you and your insurance if this becomes even insurable.
@@Tkyl0-0 Yes, it is an ADAS at this point. Of course, the driver is responsible. That is the definition of level 2 ADAS. I have been exclusively using FSD for three years. The improvements have been consistent and impressive. There were 2 or 3 times during that time where a potential accident was avoided.
@@chrislivingston2356 my point autonomous driving is far from being ready in the next decade. So making this a financial factor now in Tesla evaluation is bunkers.You keep saying that it's been almost ten years since Elon has been saying this about autonomous driving.
Robotaxis will not be mainstream for another 10 years at least !!!!
Scramble??? They could coast through the next 3-4 years and still arrive at the end of it with billions in the bank.
Imagine trying to buy a budget car from a company whose luxury cars have garbage built quality.
Toyota called the model Y a work of art
Toyota would never say anything bad about the competition!
@@TheMagicJIZZToyoda was being polite. Toyota makes Lexus, they know actual luxury
@@chiquita683 they make the corolla and don't dominate EVs for a reason
Lol
Tesla self driving is too dangerous to be allowed in any place. Robotaxis are not possible in 10 years for sure.
The more she pitches and gets her PT up, the worse they perform. The reality is ARK is a paid megaphone for elon
That is such BS, ARK is a company that receives nothing from Elon!!!!
@@MyUniversalUniversity Is that why a guy who runs 4 companies sits on their investor podcast admiring Tasha Keeney’s "radio voice" :)? To start with, he receives billions of dollars of investments in equity.. to say the least.
I’m looking to get out of Tesla if get to even.Thats a 17 percent jump to the upside.I see it going down to 100 this year.Im only in because Ron Barron was raving about it.
Up 13% in after market
Steve Westley, former Board Tesla member, says it may be 12 years before robotaxis; delusional Tasha Keeney says 3 years. Take your pick folks.
It doesn’t really matter if the robo taxi is aloud yet. It will be ready and Tesla will have the lead on when it is aloud. For long term investors it’s Good news.
Please allow me to be loud
FSD prediction:
It’s coming to trail in California by next year, start expanding in 2 year to other states, 3-4 years in every state, 4-5 years China and Europe. That’s what will happen.
What Elon mentioned around the affordable car sounds like a frankenstein platform. Bit of new and bit of the old platform. Not really the thing that investors or consumers were looking for.
The public dont want self driving cars ffs.
They don't want to be controlled by software
Wow these comments are vicious. Nobody on this thread listened to the Q&A.
Elon stated that you should not invest in Tesla if you don’t believe in autonomy. Also you must drive FSD yourself or you just won’t get it. That’s apparent from the comments, none of the haters have even driven a Tesla.
This guy Steve Wessley obviously has not driven the latest FSD if he thinks autonomous driving is that far away.
I drove FSD. I had to intervene at least 5-10% of times. Naah bro it’s not even close.
@@vijaysaiveerapaneni When?
@@vijaysaiveerapaneni - how many times, and what version? Try the latest version, I’ve been driving it and most of the disengagements are me just not trusting it yet. There have been a few small ones but since I started the trial they have come out with two new releases and it gets a bit better each time. I started with 12.3.3 and it is now 12.3.5.
wrong, within 5 yrs or less. auto cars moving about..
Waymo is already in roads.
The Public do not realize there is NO Oil by 2030
The BIG PICTURE!
BS! I like EVs, but stop the fear mongering lol
@@kappatoflash I am not...
who wants to sit in robotaxi driving on highway?
Optimus to door dash soon 😅
Ok. 20 minutos
The meme Stock saga continues. Even with all the vaporware as the Bot and Robotaxi, as missing earnings, still goes up in value. Facepalm.
Up 12% in after market trading. Oh yeah baby :-)
These ppl can’t be serious
I can't believe this guy was on the board and still don't believe RoboTaxi
That’s why he is not a good fit.
Maybe you should revisit your assumptions - he was on the Board and he still thinks robotaxis may be 12 years away.
Wall Street giveth, and Wall Street taketh away. 😂 Look who went short on the stock....🤣 They're making a killing,....😯
This lady looks like a Bond villainess haha
Such a turn on right ?
Steve, what happened to you. You are not understanding what you did in the past. Drive the FSD and you will see the difference today!!!!!! They are going to make 3 million cars in the next 12 months. More factories will go up. The 20k car is coming at the same time the robotaxis is coming.
25k car not happening folks
Westly has no clue lol
Tesla is so behind in self driving. I bet she doesn’t have a Tesla.
It’s today’s Apple, that was the future once. Once ford and Toyota bring it to the masses, Tesla is finished.
Ford can't make a EV for profit
They have stopped making EVs as they loose about 30.000 per car
Why oh why do these muppets think Tesla are leading in autonomous driving....they are about 3 years behind
That women is crazy.
not going to get a 25,000 dollar ev. Copper is 4.45 a lb and going higher and ev's need a lot of copper.
Tesla is reducing the copper requirement and the Chine car makers will copy and then eventually the Western car makers.
Complete autonomy seems plausible only if Tesla oversees the entire lifecycle-from mining lithium to processing it, constructing the battery cells in-house, and developing sophisticated autonomous software. This software would need to exhibit a level of intelligence to recognize nuanced scenarios, such as detecting a ball rolling down the street and inferring a potential child chase. Despite promising advancements, achieving such comprehensive autonomy remains a goal for the distant future.
She’s smoking dust!!!
i am a rabotaxi
Why are we listening to anyone from arkk invest. Their performance is terrible.
Byd has already won, better model range also hybrid as well as pure EV. Tesla model selection is poor.
Zzzz
The new face for the delusional ARK ? they all look dead inside for some reason, I guess you can't say those predictions with straight face if you're not :D
Tasha’s a Legend❤
Lmfao
lmao tesla will never have real auto pilot
The mistakes these people make is that they act like this is company. Tesla is just a trading vehicle, no different than Crypto. It does not have intrinsic value, It juts gets traded up and down.
ARK seems like a cult of nonsense, run
Tesla will be at a trillion by end of week because of the Bitcoin on their balance sheet
Okay.......
It's worth $700 million...where are you getting a trillion Einstein?
Tesla can not compete in other market other than reliance on tariff protection 😂
Robotaxi won’t happen. Maybe 25 years.
Is this Tasha Keeney smoking something? She needs to stop....immediately.
Bullllll Shieeeeeeet
If Tesla survives, the share price will be in the single digits.
Porsche is better !