Tesla Q3 2024 Earnings Call

[00:00:03] [SPEAKER_00]: Jetzt ist Herbst und bald stehen schon wieder die Feiertage vor der Tür. Das kann auch für Hunde ganz schön stressig sein. Viele Vierbeine reagieren unter anderem mit einer gestörten Verdauung und das ist wiederum Stress für ihre Besitzer. Aber es gibt schnelle und einfache Hilfe, das Probioticum Purina Proplan Forti Flora. Streu einfach einen Beutel über das tägliche Futter. Die außergewöhnliche Zusammensetzung mit lebenden guten Darmbakterien stellt das Gleichgewicht im Darm wieder her.

[00:00:31] [SPEAKER_00]: Natürlich kannst du Proplan Forti Flora auch präventiv oder bei alltäglichen Verdauungsbeschwerden einsetzen. Es unterstützt auch bei Ernährungsumstellungen oder Antibiotika-Einnahme. Purina Proplan Forti Flora – jetzt auf shop.purina.de

[00:00:50] [SPEAKER_07]: Guten Abend, alle willkommen in der 3. Quartal Q3 2024 Webcast.

[00:00:55] [SPEAKER_07]: Während dieser Behandlung diskutieren werden wir unsere Business Outlook und machen vorgelegende Statsachen.

[00:00:59] [SPEAKER_07]: Diese Kommentare sind auf unserer Predikten und Bezüglichen und Bezüglichen.

[00:01:04] [SPEAKER_07]: Aktuellen events oder results könnten differ materiellt due zu ein paar Risiken und Uncertainties,

[00:01:08] [SPEAKER_07]: including die in unseren letzten Filings mit der SEC.

[00:01:11] [SPEAKER_02]: Hallo, everyone, und willkommen zu Killawatt, a podcast about electric vehicles, renewable energy,

[00:01:33] [SPEAKER_02]: autonomous driving, and much, much more. My name is Bodhi, and I am your host.

[00:01:38] [SPEAKER_02]: Und without going into a lot of detail, I had a very bad week when it comes to technology and technology working.

[00:01:48] [SPEAKER_02]: This will be the fourth time I've tried to record the show. By the way, today, if you haven't guessed,

[00:01:55] [SPEAKER_02]: we're going to talk about Tesla's Q3 2024 earnings call. I actually had the notes done for this show

[00:02:02] [SPEAKER_02]: and the clips already picked out on Wednesday. And then Thursday, I had technical issues.

[00:02:09] [SPEAKER_02]: Friday, I had technical issues. At one point in time, I was having some internet issues and I was like,

[00:02:15] [SPEAKER_02]: you know what? I think my modem is going bad because I've had to restart it over and over again for the

[00:02:20] [SPEAKER_02]: last couple of days. So I'm going to go buy a new modem. And it turns out, folks, that my internet was just out

[00:02:30] [SPEAKER_02]: for my internet company. And when I went to set up my new modem, I was unable to, I actually had to go

[00:02:37] [SPEAKER_02]: return the new modem and get another new modem to get everything to work. And at like 10 o'clock on

[00:02:44] [SPEAKER_02]: Friday, everything worked. But I continue to have technical issues. I'm just not going to go into all

[00:02:50] [SPEAKER_02]: the problems. But it was a very, very frustrating week, technically. So just, I say all that to say

[00:02:59] [SPEAKER_02]: this, I am very sorry that you were getting this on a Sunday, instead of Thursday morning, like I had

[00:03:05] [SPEAKER_02]: planned. I also had problems with the mic, I've had problems with my computer, which is new. I've had

[00:03:13] [SPEAKER_02]: problems with, I tried using my lavalier mics, had issues with those. It's just sometimes when you're

[00:03:22] [SPEAKER_02]: doing anything, really, but in terms of podcasting, sometimes you just run into issues that no matter

[00:03:29] [SPEAKER_02]: how hard you try to overcome, you bring new ones into the fold. You might solve one problem and then

[00:03:36] [SPEAKER_02]: you bring new problems into the fold. So yeah, hopefully today will be the fourth and final time

[00:03:45] [SPEAKER_02]: I attempt to record this episode. But again, I apologize that it is so late. Okay, so let's go

[00:03:54] [SPEAKER_02]: ahead and jump into Tesla's Q3 2024 earnings call. Right out of the gate, I should let you know, this is not

[00:04:01] [SPEAKER_02]: a typical earnings call. This largely is an extension of Tesla's 1010 event, which is their

[00:04:10] [SPEAKER_02]: WeRobot RoboTaxi event. And it's not truly an earnings call in the truest sense of an earnings call.

[00:04:20] [SPEAKER_02]: So I'm going to let you listen to it. We're going to listen to this together. But I have a theory,

[00:04:27] [SPEAKER_02]: and in my theory, my theory goes like this, actually, is when a company has maybe not the

[00:04:37] [SPEAKER_02]: best news to give or does not want to get hard questions from analysts, they extend the CEO's

[00:04:45] [SPEAKER_02]: opening remarks, they extend the CFO's opening remarks, they'll take investor questions, and then

[00:04:53] [SPEAKER_02]: they leave the analyst very little time to answer questions. Now I'm not saying that's what Tesla did.

[00:05:02] [SPEAKER_02]: But they only took questions from two analysts. And that was it. All of the other questions were from

[00:05:08] [SPEAKER_02]: investors. And they all kind of sort of had to do with the RoboTaxi event, or at least Elon and the

[00:05:17] [SPEAKER_02]: team brought it back to the RoboTaxi event. So let's go ahead and start with Elon's opening remarks.

[00:05:22] [SPEAKER_02]: I will warn you, the audio is awful. The room noise is fine. You can't really hear a lot going

[00:05:30] [SPEAKER_02]: on in the room. But Elon's voice, the bass in his voice makes it kind of muddled and muddy and

[00:05:36] [SPEAKER_02]: kind of hard to hear. I tried to clean it up as best as I could. I just wanted you to be aware of

[00:05:42] [SPEAKER_02]: that before we start. Have your best listening ears on. Let's start off with our first clip,

[00:05:48] [SPEAKER_02]: which is Elon's opening remarks. I did not because he did speak for a while. I did not include all of

[00:05:55] [SPEAKER_02]: his opening remarks, just the parts that I thought were important to this show.

[00:05:59] [SPEAKER_06]: So to recap, someone saying something that would have been history of saying year over year declines

[00:06:06] [SPEAKER_06]: in order volumes in Q3. Tesla at the same time has achieved record deliveries. In fact,

[00:06:11] [SPEAKER_06]: I think if you look at EV companies worldwide, to the best of my knowledge, no EV company is even

[00:06:20] [SPEAKER_06]: profitable. And to the best of my knowledge, there was no EV division of any company, of any existing

[00:06:28] [SPEAKER_06]: order of company that is profitable. So it is notable that Tesla is profitable despite

[00:06:35] [SPEAKER_06]: a very challenging world-led environment. And this quarter actually is a record Q3 for us.

[00:06:45] [SPEAKER_02]: All right. Congratulations to Tesla and the team for having a record Q3. I do want to address

[00:06:51] [SPEAKER_02]: the comment of Tesla being the only profitable EV company out there. That might be true. I'm not

[00:06:57] [SPEAKER_02]: going to look it up. It really doesn't matter, to be honest with you. But here's the thing.

[00:07:03] [SPEAKER_02]: Tesla's been doing it the longest. They are, in terms of EVs, not in terms of car companies in

[00:07:09] [SPEAKER_02]: general, but in terms of EVs, they are the legacy automaker. They started the company in 2003.

[00:07:18] [SPEAKER_02]: They didn't have their first full year of profitability until 2020. Now, they had quarters

[00:07:24] [SPEAKER_02]: where they were profitable, but the actual first full year profitability didn't come until 2020.

[00:07:33] [SPEAKER_02]: Just for a point of reference, you know, 2003, obviously they didn't sell a car in 2003,

[00:07:39] [SPEAKER_02]: but they first delivered their very first car in 2008. Now, why is this relevant or why am I bringing

[00:07:46] [SPEAKER_02]: this up? Because there was a time when all of these companies during earnings calls or whatever

[00:07:53] [SPEAKER_02]: were pointing out, yeah, Tesla's doing some interesting things, but they're not profitable.

[00:07:58] [SPEAKER_02]: And it remains to be seen if they will be profitable. I'm only bringing this up because

[00:08:07] [SPEAKER_02]: until 2020, or right around that time period, that was the narrative used when they talked about Tesla.

[00:08:14] [SPEAKER_02]: So why would you draw that same comparison once you're on top? Or why would you make those same

[00:08:21] [SPEAKER_02]: analogies once you're on top? Like, yeah, you probably are the only EV company that's profitable.

[00:08:28] [SPEAKER_02]: Yeah, in the United States. I mean, if you compare it, BYD might be profitable. I don't know. I don't

[00:08:36] [SPEAKER_02]: think NIO is profitable. XPeng in China might be profitable. Like there might be some EV divisions

[00:08:41] [SPEAKER_02]: that are profitable outside of the United States. Here in the US, probably not, right? I'm just saying,

[00:08:47] [SPEAKER_02]: like, this was the narrative when you wanted to dismiss Tesla between 2008 and, you know, 2020.

[00:08:57] [SPEAKER_02]: Yeah, but they haven't turned a profit. Yeah, but they haven't turned a profit. Well,

[00:09:02] [SPEAKER_02]: they were doing some really interesting things in autonomous driving. Yeah, but they haven't turned

[00:09:06] [SPEAKER_02]: a profit. Talk to me when they do this. So for Elon to use this same rhetoric against other EV

[00:09:15] [SPEAKER_02]: companies, there's some poetic justice in there, but there's also some schadenfreude and maybe,

[00:09:22] [SPEAKER_02]: maybe be the bigger person and take the win without crowing about it. You know what I mean?

[00:09:30] [SPEAKER_02]: All right, let's continue with the clip here.

[00:09:33] [SPEAKER_06]: So we produced our seventh million vehicle actually just yesterday. So congratulations to the teams

[00:09:40] [SPEAKER_06]: that made it happen in Tesla. That's the staggeringly immense amount of work to make seven million

[00:09:44] [SPEAKER_06]: cars. So we also have the good energy storage business is running like wildfire with strong

[00:09:56] [SPEAKER_06]: demand for both Megapank and Powerwall. And as people know, on October 10th, we laid out a vision

[00:10:04] [SPEAKER_06]: for an autonomous and electric future that I think is very compelling. The Tesla team did a phenomenal

[00:10:12] [SPEAKER_06]: job there with actually giving people an opportunity to experience the future where you have humanoid robots

[00:10:21] [SPEAKER_06]: walking among the crowd. Not, you know, can video presentation or anything, but literally walking

[00:10:26] [SPEAKER_06]: among the crowd, serving drinks and whatnot. And, and we had 50 autonomous vehicles. There were 20

[00:10:33] [SPEAKER_06]: cybercams, but there were an additional 30 model Ys operating fully autonomously the entire night,

[00:10:39] [SPEAKER_06]: carrying thousands, thousands of people's, but thousands of people drink with, with no incidents the entire night.

[00:10:48] [SPEAKER_06]: Um, so, uh, and for those who went there that I was emphasizing that these, the cybercap had no

[00:10:56] [SPEAKER_06]: steering wheel or brake or accelerator pedals. I mean, there was no, there's no possible,

[00:11:02] [SPEAKER_06]: there was no way for anyone to intervene manually, even if they wanted to. Um, and the whole night

[00:11:07] [SPEAKER_02]: went very smoothly. All right, let's start with optimus. I asked last week if anyone else thought that

[00:11:15] [SPEAKER_02]: optimus was controlled by a human or at least influenced by a human when it was out at the,

[00:11:22] [SPEAKER_02]: uh, we robot event, serving drinks and giving, uh, gift bags out and interacting with the crowd.

[00:11:28] [SPEAKER_02]: And I got a lot of feedback. I, unfortunately, uh, because of how long this actual episode is going to

[00:11:35] [SPEAKER_02]: run, I can't run through everybody's, uh, like I would have liked to everybody's comments on this,

[00:11:42] [SPEAKER_02]: but the general consensus is, yeah, there was probably some human interaction, especially the

[00:11:48] [SPEAKER_02]: operators that had the hand controller. Um, and then on the other side, um, uh, you know, the voices

[00:11:56] [SPEAKER_02]: seemed to me like, maybe they were a little bit too realistic instead of, you know, um, what we would

[00:12:04] [SPEAKER_02]: know to be AI generated voices over time, you know, we're going to find out, you know, if there was

[00:12:13] [SPEAKER_02]: some sort of manipulation going on and Elon's not being a hundred percent honest, or we'll say Tesla's

[00:12:19] [SPEAKER_02]: not being a hundred percent honest with the presentation, some employee is going to get upset,

[00:12:24] [SPEAKER_02]: fired or whatever, and we'll hear about it. It's just going to take a while before that happens.

[00:12:31] [SPEAKER_02]: All right. Before we move to our other clips, I should just give you some things that I didn't

[00:12:36] [SPEAKER_02]: include first up more affordable vehicles coming in 2025. Now we'll hear more about this later again,

[00:12:46] [SPEAKER_02]: but that doesn't mean the $25,000 or 30 ish thousand dollar vehicle that Tesla promised when they

[00:12:55] [SPEAKER_02]: announced the gigafactory. It seems from what I can interpret, that means that Tesla's current vehicles

[00:13:05] [SPEAKER_02]: will be lower cost. So, I mean, that's great. Listen, that that's not disappointing. We want

[00:13:12] [SPEAKER_02]: more affordable vehicles for sure, but, uh, and we'll get, we'll get to that. You know what? I'm

[00:13:18] [SPEAKER_02]: going to stop. I have more to say on this, but I'll stop because we're going to talk about that in a

[00:13:22] [SPEAKER_02]: little bit, uh, cyber cab production. Elon feels confident that they can hit 2 million units a year

[00:13:29] [SPEAKER_02]: eventually, and possibly 4 million units per year. Elon's very bullish on cyber cab. And, uh,

[00:13:38] [SPEAKER_02]: it's, it seems like they are definitely, um, they're, they're definitely, I don't want, I don't

[00:13:47] [SPEAKER_02]: like to say they're betting the company. They are putting a lot of emphasis on cyber cab. Like,

[00:13:52] [SPEAKER_02]: uh, I don't know, maybe a year ago, Elon started talking about what a lot of people don't understand

[00:13:58] [SPEAKER_02]: is that, you know, Tesla is an AI company. And with this earnings call, he's bringing a lot of

[00:14:04] [SPEAKER_02]: that same energy with cyber cab. And you're going to hear it in the clips that we're going to hear

[00:14:09] [SPEAKER_02]: today in terms of training AI, Tesla is continuing to expand capacity and they are not compute

[00:14:16] [SPEAKER_02]: constrained at the moment. Tesla energy is improving. And someone asked, you know, what's

[00:14:22] [SPEAKER_02]: going on with the Tesla Roadster. The final design has not been approved. It doesn't sound like it's

[00:14:28] [SPEAKER_02]: a huge priority for them, even though, you know, they announced it, what was it back in 2019 or

[00:14:34] [SPEAKER_02]: maybe even sooner than I think it was with Tesla semi, they announced it and some people put $5,000

[00:14:39] [SPEAKER_02]: down. And I think it was like another $20,000 to reserve it. So I'm sure some people would really

[00:14:46] [SPEAKER_02]: like that vehicle to, you know, come out. They would really appreciate that, but it's not going

[00:14:52] [SPEAKER_02]: to be a huge moneymaker for them. It's not going to be a high volume product. Therefore, in my opinion,

[00:14:57] [SPEAKER_02]: it's not a high priority at this moment. Elon, I can't remember if I included a clip or not. Elon did

[00:15:03] [SPEAKER_02]: make reference of the, you know, Tesla Roadster levitating on some level or flying. We'll, I mean,

[00:15:11] [SPEAKER_02]: we'll see. I don't necessarily think that that's the best way to go with a, with a high dollar sports

[00:15:24] [SPEAKER_02]: car, but we'll see what Tesla does there. All right, let's go ahead and move on to our next clip,

[00:15:31] [SPEAKER_06]: which is about autonomy. So with respect to autonomy, um, as people are experiencing in the

[00:15:38] [SPEAKER_06]: cars, um, really from week to week, uh, there are significant improvements in the miles between

[00:15:45] [SPEAKER_06]: interventions. Um, so with the new version 12.5 release of full self-driving and Cybertruck,

[00:15:57] [SPEAKER_06]: combining the, combining the code into a single stack so that the, uh, city driving and the

[00:16:02] [SPEAKER_06]: engine and highway driving are, are one stack, uh, which is a big improvement for the highway

[00:16:07] [SPEAKER_06]: driving. So it's, it's, it's just all neural nets, uh, and the release of, uh, actually smart summon.

[00:16:16] [SPEAKER_06]: Um, we try to have a sense of humor here at death and we're also, so that's 12.5, uh, version 13

[00:16:26] [SPEAKER_06]: of FSD, uh, is going out soon. Um, I shall elaborate more on that, uh, later in the call. Um,

[00:16:38] [SPEAKER_06]: um, we, we expect to see some roughly a five or six fold improvements in miles between interventions

[00:16:44] [SPEAKER_06]: compared to 12.5. Um, and actually looking at the, the year as a whole, uh, the improvement,

[00:16:51] [SPEAKER_06]: uh, in mild Korean interventions, we think we'll bring at least three orders of magnitude.

[00:16:58] [SPEAKER_06]: So, um, that's, um, that's, that's a very dramatic, uh, improvement, uh, in the course of the year

[00:17:06] [SPEAKER_06]: and, uh, and we expect that trend to continue next year. So, um, like the, the current,

[00:17:14] [SPEAKER_06]: the current internal expectation, the exciting internal expectation for, uh, the Tesla FSD

[00:17:22] [SPEAKER_06]: having, um, um, longer miles between human sheep and human is the second quarter of next year.

[00:17:33] [SPEAKER_06]: Um, which means it may end up being the third quarter, but it's, it's next. It's, it seems

[00:17:38] [SPEAKER_06]: extremely likely to be next year. Sure. Do you want to agree with that?

[00:17:42] [SPEAKER_04]: Yeah. We're mentioning miles between critical interventions. Um, yeah, like you mentioned,

[00:17:48] [SPEAKER_04]: Elon, we already made a 100 X, uh, improvement with 12.5 from starting of this year. And then

[00:17:54] [SPEAKER_04]: with V13 release, we expect to be, uh, a thousand X from the beginning, from January of this year

[00:18:00] [SPEAKER_04]: on my production release software. Um, and this came in because of technology improvements

[00:18:06] [SPEAKER_04]: going to end to end, uh, having higher frame rate, uh, partly also helped by hardware force,

[00:18:11] [SPEAKER_04]: uh, more capabilities, um, so on. Uh, and we hope that, you know, we continue to scale

[00:18:19] [SPEAKER_04]: the neural network, the data, the training compute, et cetera. By Q2 next year, we should cross over the,

[00:18:26] [SPEAKER_04]: uh, average human minds for critical intervention, part of collision in the case.

[00:18:32] [SPEAKER_06]: I mean, that, that is just, um, unbondished our internal estimate. Yes. Yeah. Um, so, um,

[00:18:38] [SPEAKER_06]: um, that, that's not a sandbagging or anything else. Um, um, internal estimate is Q2 next year to be,

[00:18:45] [SPEAKER_06]: uh, safe than human, um, and then to continue with rapid improvements, uh, thereafter.

[00:18:52] [SPEAKER_02]: Hasn't Elon said in the past that it's already safer than a human? Am I wrong on that? Did I

[00:18:59] [SPEAKER_02]: misunderstand his statements earlier? I'm genuinely curious because I thought this was,

[00:19:03] [SPEAKER_02]: he had already said that this was the case when it's activated.

[00:19:09] [SPEAKER_02]: All right. In terms of interventions, I read an article and I can't remember where I read this.

[00:19:14] [SPEAKER_02]: Uh, it was recent when I was preparing for last week's show or last episode, which I guess is last

[00:19:21] [SPEAKER_02]: week now. Uh, the, the article basically said that Tesla needs a hundred thousand miles between

[00:19:29] [SPEAKER_02]: interventions before they can release robo taxi. That was the author's thought, or maybe he,

[00:19:36] [SPEAKER_02]: he interviewed some experts. I don't know, but I don't think this is the case. Waymo vans still have

[00:19:41] [SPEAKER_02]: plenty of issues. And I don't think those vehicles are seeing a hundred thousand miles between

[00:19:46] [SPEAKER_02]: interventions. And granted GM crews and Waymo are geo-fenced. So there, they aren't, you know,

[00:19:54] [SPEAKER_02]: cruising all over the country. They're, they're only in specific areas.

[00:19:58] [SPEAKER_02]: Because I, I still think Tesla is going to be geo-fenced and I don't think they're going to be

[00:20:04] [SPEAKER_02]: able to just step out and go wherever they want with their robo taxi service. It's, it's going to

[00:20:10] [SPEAKER_02]: be, in my opinion, a much slower rollout than what Elon is presenting in this earnings call. And I

[00:20:17] [SPEAKER_02]: don't think he's done anything just yet. We'll get to that point. And then as a personal note,

[00:20:23] [SPEAKER_02]: I have the trial version of the latest FSD and it's really good. I've used it on most of my drives.

[00:20:33] [SPEAKER_02]: I don't ever think to use it until I'm actually driving, but I use it on most of my drives. So

[00:20:39] [SPEAKER_02]: it's not the first thing that I go to when I get in my car, but usually when I'm at a light, I'm like,

[00:20:45] [SPEAKER_02]: oh, I could, I could put in an address and actually use, let the car take me there. And it's really

[00:20:50] [SPEAKER_02]: good. Not good enough for me to shell out a hundred dollars or $8,000 a month to do something

[00:20:55] [SPEAKER_02]: I already know how to do, especially since I only have hardware three or AI three, whatever Elon and

[00:21:02] [SPEAKER_02]: Tesla's calling it these days, but it's pretty good. Pretty good. Uh, I'm very impressed with it. Like I

[00:21:08] [SPEAKER_02]: didn't have necessarily a positive review of it the last time I had the trial. And this time, uh,

[00:21:15] [SPEAKER_02]: I can see major improvements. It does not scare me nearly as much as it did before. It still does

[00:21:22] [SPEAKER_02]: some weird edge casey things, but by and large, I'm quite happy with it. It's, it's really good.

[00:21:30] [SPEAKER_02]: So, uh, I, I still don't think it's level three good and Elon wants to get to level five soon,

[00:21:38] [SPEAKER_02]: which, you know, let's go ahead and, and just toss to that clip because he's going to talk about

[00:21:44] [SPEAKER_02]: how the vast majority of humans don't understand that Teslas can drive themselves.

[00:21:49] [SPEAKER_06]: Vast majority of humanity has no idea that Tesla's can drive themselves. Um, so

[00:21:56] [SPEAKER_06]: especially for something like a model three or model Y, it looks like a normal car.

[00:22:02] [SPEAKER_06]: So you don't expect a normal car to be able to be intelligent enough to drive itself.

[00:22:08] [SPEAKER_06]: The cyber cab looks different. Cyber truck looks different, but model Y and model three are

[00:22:14] [SPEAKER_06]: look, they're good looking cars. They look fairly normal. You don't expect a belly normal looking car to

[00:22:20] [SPEAKER_06]: have the intelligence enough AI to be able to drive itself, but it does.

[00:22:26] [SPEAKER_06]: Um, so we do want to expose that to more people. And, uh, and so we're, we're, we're doing,

[00:22:32] [SPEAKER_06]: but every time we have, um, a significant improvement in the software, we'll roll, we'll roll out

[00:22:39] [SPEAKER_06]: another sort of 30 day trial. So to encourage people to try it again. And, uh, and we are

[00:22:45] [SPEAKER_06]: seeing a significant improvement in adoption. Um, so the, the, the take rate for FSC is as improved

[00:22:54] [SPEAKER_06]: substantially, especially after the 10, 10 event. Yeah. So, so there's, there's no need to wait for

[00:23:03] [SPEAKER_06]: robot taxi or cyber cab for, to experience full autonomy. We expect to achieve that next year with the,

[00:23:10] [SPEAKER_02]: with our existing vehicle line. When you say your existing vehicle line, are you talking about the

[00:23:17] [SPEAKER_02]: vehicles that you're building today? Or are you talking about the vehicles that you built four

[00:23:22] [SPEAKER_02]: years ago? Um, I have a feeling you're talking about the vehicles you're talking about today.

[00:23:27] [SPEAKER_02]: I'm not sure that that's true either, but yeah, that, that, that is a similar statement that Elon makes

[00:23:35] [SPEAKER_02]: on a regular basis of, we should be able to achieve full autonomy by next year. Now I will say,

[00:23:43] [SPEAKER_02]: based on the experience that I've had with full self-driving trial, really good. I haven't tried

[00:23:50] [SPEAKER_02]: actual smart summon yet. I'm trying, I I'm a little nervous to do that in a parking lot. So

[00:23:55] [SPEAKER_02]: I'll have to find myself in an empty parking lot, maybe early in the morning or later in the evening

[00:24:02] [SPEAKER_02]: where I can feel comfortable to, to try that feature. But, um, yeah, that, uh, that seems

[00:24:10] [SPEAKER_02]: ambitious for sure. And then when it comes to, uh, his original statement of the vast majority of

[00:24:18] [SPEAKER_02]: humans have no idea Tesla's can drive himself. That's simply not true. Like my friends are dumb,

[00:24:26] [SPEAKER_02]: like they are dumb dumbs to the top order. Like they are dumb. I can't even express it. Think of

[00:24:33] [SPEAKER_02]: your dumbest person, you know, not even maybe not your friend, the dumbest person, you know,

[00:24:37] [SPEAKER_02]: I guarantee you, my friends are dumber hands down. They are just absolute troglodytes, just

[00:24:46] [SPEAKER_02]: knuckle dragon morons, right? They know that Tesla's can kind of drive themselves.

[00:24:55] [SPEAKER_02]: And they don't know that simply because of me, because they tell me, well, it can drive itself.

[00:25:01] [SPEAKER_02]: And I have to say, eh, can't drive itself, but it does pretty good in certain situations. Like I

[00:25:08] [SPEAKER_02]: have to correct them, but they know they're like, Oh, I should buy a Tesla. It drives itself. And you

[00:25:12] [SPEAKER_02]: know what that in the last probably two years that, uh, those comments have maybe died down a little

[00:25:18] [SPEAKER_02]: but they, they know, they know that that's, Oh, sorry. I'm not going to get upset. You've been

[00:25:27] [SPEAKER_02]: spouting that Tesla's can drive themselves for so long as if they could, Mr. Musk, that people think

[00:25:36] [SPEAKER_02]: that they can like that. The vast majority of humans know that Tesla's have some sort of autonomy,

[00:25:43] [SPEAKER_02]: autonomous features, autonomous driving features. I will say that vast majority of humans probably

[00:25:50] [SPEAKER_02]: have no idea that the Ford Mach-E or the F-150 Lightning has similar features or the Polestar 3 have

[00:26:01] [SPEAKER_02]: similar features to Tesla. I would be willing to bet that when people buy a Mach-E or let's just say,

[00:26:11] [SPEAKER_02]: because you have to go to the dealer and go through the whole process. When you get that demonstration

[00:26:16] [SPEAKER_02]: from the dealer, when you're test driving a Mach-E, I'd be willing to bet a significant number of buyers

[00:26:24] [SPEAKER_02]: like, Oh, I didn't know it could do this. This is pretty cool. Like I, Elon says things in a way

[00:26:32] [SPEAKER_02]: sometimes. And again, I'm not, I'm not an Elon hater here, but he says things in a way sometimes that is

[00:26:38] [SPEAKER_02]: just out of touch. Again, my dumb, dumb friends know that there's autonomous features in Tesla's.

[00:26:47] [SPEAKER_02]: Whether or not they know what the actual capabilities are, or they, they, they overrate the capabilities

[00:26:55] [SPEAKER_02]: or underrated depending on what their opinion of Elon is, that's irrelevant. They know that the cars

[00:27:00] [SPEAKER_02]: have the technology to do it. Um, just drives me crazy. Also, I would like to know what the take

[00:27:09] [SPEAKER_02]: rate is for FSD, because I think it's great since the 10, 10 event that the take rate went up, but

[00:27:17] [SPEAKER_02]: what is it compared to 2023, 2021, 2022? Is it mostly people subscribing or people shelling out the $8,000?

[00:27:28] [SPEAKER_02]: Like, what are we doing here? Like if it's a significant increase, what does that mean?

[00:27:34] [SPEAKER_02]: Cause if the increase, let's just say the take rate was 1% and it's probably much higher than this,

[00:27:40] [SPEAKER_02]: but I'm just going to say 1% for an example. And now the take rate is 3%. That is a significant

[00:27:46] [SPEAKER_02]: increase, but it's not necessarily a significant improvement or impact on Tesla. So I would like to

[00:27:54] [SPEAKER_02]: have more information on that. And I think if the numbers were good enough, Tesla would share that

[00:27:59] [SPEAKER_02]: information, but I don't think they're good enough. And that's why they're not sharing and they're being

[00:28:04] [SPEAKER_02]: a little cagey about it. And then my final rant here and listen, I don't know why I'm so fired up

[00:28:12] [SPEAKER_02]: about this earnings call, but even listening back to it with you right now, cause I'm listening to all of

[00:28:17] [SPEAKER_02]: these clips, even though I've already wrote the notes on them and stuff, just to have maybe a fresh

[00:28:22] [SPEAKER_02]: perspective, things like this still irritate me. You'd think after a couple of days of letting it

[00:28:28] [SPEAKER_02]: sit, it wouldn't irritate me as much, but they do. They do. Let's move on to our next clip, which is

[00:28:33] [SPEAKER_06]: ride hailing. And we actually, we have, um, for Tesla employees in the Bay area, we already are,

[00:28:40] [SPEAKER_06]: are offering a ride hailing employee. So, so you can actually use with the development app,

[00:28:47] [SPEAKER_06]: you can request a ride, um, and it'll take you anywhere in the Bay area. We do have a safety

[00:28:52] [SPEAKER_06]: driver right now, but a software required to do that. Um, which, which we've developed. And

[00:28:59] [SPEAKER_08]: David, do you want to elaborate on that? Yeah, sure. David, um, we showed, uh, some screenshots of

[00:29:04] [SPEAKER_08]: this in the Q1, uh, shareholder deck. And, um, you know, this is real. We've been testing it for

[00:29:10] [SPEAKER_08]: the part of the year and, uh, the building blocks that we needed in order to build this functionality

[00:29:14] [SPEAKER_08]: and deliver it to production. We've been thinking about working on for years. Um, it just so happens

[00:29:19] [SPEAKER_08]: that we've used those building blocks to deliver great features for our customers in the meantime,

[00:29:24] [SPEAKER_08]: such as sharing your profile, synchronizing it across cars so that every single car that you jump

[00:29:29] [SPEAKER_08]: into, whether it's, you know, another car that you own or a car that somebody's loaned to you or a

[00:29:33] [SPEAKER_08]: rental car that you jump into, it looks exactly like yours. Everything's synchronized, seat mirror

[00:29:37] [SPEAKER_08]: positions, you know, media navigation, everything is the same, just what you would expect from, uh,

[00:29:44] [SPEAKER_08]: one of our robo taxis. Um, but you know, we gave that functionality to our customers, uh, right now

[00:29:49] [SPEAKER_08]: because we built it, uh, intending for it to be used in the future. Um, so we're releasing that

[00:29:55] [SPEAKER_08]: functionality now. All the, and then cybersecurity that we knew we were going to need to deliver that

[00:30:00] [SPEAKER_08]: functionality, um, sending a navigation destination from your phone to the vehicle. Um, and so, you

[00:30:07] [SPEAKER_08]: know, you're doing that now with the, at the ride hailing app, but it's something that we've, uh,

[00:30:12] [SPEAKER_08]: made available to customers for years, seeing the progress on a route in the mobile app. That's

[00:30:17] [SPEAKER_08]: something you'll need for the ride hailing app. But again, we released it in the meantime. So

[00:30:21] [SPEAKER_08]: it's not like we're just starting to think about this stuff right now while we're building out,

[00:30:24] [SPEAKER_08]: you know, the early stages of our ride hailing network. We've been thinking about this for quite

[00:30:28] [SPEAKER_08]: a long time and we're excited to get the functionality out there. Yeah. And we do expect

[00:30:32] [SPEAKER_06]: to roll out, um, ride hailing in, um, California, Texas next year to the public. Um, but not,

[00:30:40] [SPEAKER_06]: uh, the California somewhere that there's quite a long regulatory approval process, but it shouldn't,

[00:30:46] [SPEAKER_06]: I think we should get approval next year, but it's contingent of our regulatory approval.

[00:30:49] [SPEAKER_06]: Uh, Texas is, um, a lot faster. So it's, uh, can I say like we're, um, we'll definitely have

[00:30:58] [SPEAKER_06]: available in Texas, um, and probably have it available in, in California subject to regulatory

[00:31:03] [SPEAKER_06]: approval. Um, and then, and maybe some other states actually, um, next year as well, but at least

[00:31:09] [SPEAKER_06]: California, Texas.

[00:31:14] [SPEAKER_00]: Now is spring and soon are the holidays again. That can also be very stressful for dogs.

[00:31:21] [SPEAKER_00]: Many four-bears react to other with a gestorben

[00:31:24] [SPEAKER_00]: and that's, um, stress for your users. But it's a quick and easy help. That probioticum Purina

[00:31:32] [SPEAKER_00]: Proplan Forti Flora. Streu einfach einen Beutel über das tägliche Futter. Die außergewöhnliche

[00:31:37] [SPEAKER_00]: Zusammensetzung mit lebenden guten Darmbakterien stellt das Gleichgewicht im Darm wieder her.

[00:31:43] [SPEAKER_00]: Natürlich kannst du Proplan Forti Flora auch preventiv oder bei alltäglichen Verdauungsbeschwerden

[00:31:48] [SPEAKER_00]: einsetzen. Es unterstützt auch bei Ernährungsumstellungen oder Antibiotika-Einnahme. Purina

[00:31:53] [SPEAKER_00]: Proplan Forti Flora. Jetzt auf shop.purina.de.

[00:32:03] [SPEAKER_02]: All right. I feel like I've hit the regulatory stuff really hard over the last couple of weeks. So

[00:32:08] [SPEAKER_02]: I'm not, I'm not going to spend too much time talking about this, uh, ride hailing in the Bay

[00:32:14] [SPEAKER_02]: Area for employees. I think this is great. Uh, other than testing out the app and maybe, you know,

[00:32:20] [SPEAKER_02]: getting some extra information for a full self-driving. This isn't a lot different than somebody who has

[00:32:27] [SPEAKER_02]: their Tesla on Uber goes and picks somebody up, types in the address into their car and lets the

[00:32:32] [SPEAKER_02]: car take them to, you know, of course they're driving, but the car takes them to whatever they're

[00:32:36] [SPEAKER_02]: trying to go. Right. Um, Tesla doesn't need any sort of approval on this because one, they're using

[00:32:44] [SPEAKER_02]: employees. So it's internal testing. They're using probably maybe a, a version or two ahead of what's

[00:32:53] [SPEAKER_02]: publicly released in terms of full self-driving, but this isn't, this seems like it's more to test

[00:33:00] [SPEAKER_02]: out the app and less to really get the, um, the regulatory approval that they need. Right. There,

[00:33:09] [SPEAKER_02]: I think maybe that'll make it a little bit faster, but I, I did, I don't see a big difference between

[00:33:17] [SPEAKER_02]: this. And if I was to put my car on Uber and drive around with full self-driving on dropping

[00:33:24] [SPEAKER_02]: people off or going to pick them up, I don't see a lot of difference between the two. Next up,

[00:33:30] [SPEAKER_02]: we have an optimist clip. And then with optimists, we showed, we showed a massive improvement in

[00:33:36] [SPEAKER_06]: often assist dexterity and movement on October 10th and our next gen, uh, hand and forearm,

[00:33:42] [SPEAKER_06]: uh, which has 22 degrees of freedom, double, which is double the prior, uh, um, hand and forearm.

[00:33:49] [SPEAKER_06]: Um, um, it's extremely human-like and also has much better tactile sensing. Um,

[00:33:58] [SPEAKER_06]: it's, it's, it's really, that's, I feel confident saying that we have most advanced human-like robot

[00:34:03] [SPEAKER_06]: by a long shot. Um, and for moreover, the only company that really has all of the ingredients

[00:34:10] [SPEAKER_06]: necessary to scale, um, human-like robots. Um, because, because the, the, the things that,

[00:34:20] [SPEAKER_06]: that what other companies are missing is that they're missing the AI brain and they're missing

[00:34:25] [SPEAKER_06]: the ability to really scale to very high volume production. Um, so, so you sometimes see some

[00:34:32] [SPEAKER_06]: impressive video demos, but what, but they, they like the, they like the localized AI and the, um,

[00:34:39] [SPEAKER_06]: going to scale volume to very high numbers. Um, as I've said on a few occasions before,

[00:34:46] [SPEAKER_06]: I think Optimus will ultimately be the most valuable part of it. Um,

[00:34:52] [SPEAKER_06]: I think it has a good chance of being the most valuable product I've made.

[00:34:56] [SPEAKER_02]: Uh, nothing snarky to add here. Let's move on to our investor questions,

[00:35:02] [SPEAKER_02]: which this first question and the second question that you're going to hear

[00:35:05] [SPEAKER_02]: is going to be more or less the same question, but I'm going to play them one at a time and then

[00:35:12] [SPEAKER_07]: we'll talk about it. Is Tesla still on track to deliver the more affordable model next year,

[00:35:18] [SPEAKER_07]: as mentioned by Elon earlier, and how does it align with your AI product roadmap?

[00:35:23] [SPEAKER_05]: Sure. I mean, as Elon and Vibeau both said, you are in plan, uh, to meet that in the first half

[00:35:28] [SPEAKER_05]: of next year, our mission has always been to lower the cost of, of the, of our vehicles to

[00:35:34] [SPEAKER_05]: increase the adoption of sustainable energy and transport. Um, part of that is, is lowering the

[00:35:38] [SPEAKER_05]: cost for current vehicles, which is where, uh, all of the personally owned vehicles that we sell

[00:35:43] [SPEAKER_05]: today come in. But the next stage in that really is it fits into AI roadmap is when we bring in

[00:35:48] [SPEAKER_05]: robotaxis, which lowers the initial cost of, of getting into an EV and those, that's really where

[00:35:53] [SPEAKER_05]: we see the marriage of, of EV roadmap and the AI roadmap. Yeah. And it'll be like with, with,

[00:36:01] [SPEAKER_06]: with instead of sub, sub 30 K, which is kind of a key threshold. Okay.

[00:36:08] [SPEAKER_02]: I would say that that wasn't a very good answer. It wasn't very straightforward. Maybe the next

[00:36:14] [SPEAKER_02]: question will be more straightforward and we'll get a, a definitive answer on this.

[00:36:20] [SPEAKER_07]: Uh, similar question next. Um, when can we expect Tesla to give us the $25,000 non robot taxi,

[00:36:27] [SPEAKER_06]: regular car model? We're not making it on all our vehicles today are robots. I think we've made

[00:36:38] [SPEAKER_06]: a, um, I mean, it's going to be, you know, and I actually said this many years ago, uh, but that,

[00:36:46] [SPEAKER_06]: uh, in my strong belief, and I believe that as panning out to be true. So it'll be very obvious

[00:36:52] [SPEAKER_06]: retrospect is that the future is autonomous electric vehicles. Um, and, uh, non autonomous gasoline

[00:37:00] [SPEAKER_06]: vehicles in the future will be like riding a horse and using a flip phone. Um, it's not that

[00:37:06] [SPEAKER_06]: there are no horses. Yeah, there are some horses, but they're unusual.

[00:37:10] [SPEAKER_02]: I'm going to interrupt real quick here. Um, what the person was asking is when are you

[00:37:17] [SPEAKER_02]: going to offer the $25,000 car that you said was going to happen last year in UN

[00:37:24] [SPEAKER_02]: factory in Mexico? Um, that's what they're asking. So when can a person buy a lot of companies,

[00:37:31] [SPEAKER_02]: most of our companies have not internalized that comes from Tesla and it costs $25,000.

[00:37:40] [SPEAKER_02]: Right. This is not like the person who is asking this question is one, an investor. So when they

[00:37:47] [SPEAKER_02]: laugh at him and they're like, well, you will just don't understand that somebody invested in your

[00:37:51] [SPEAKER_02]: company and they're a customer. So maybe don't really, because they're not, um, they're not in

[00:37:58] [SPEAKER_02]: your internal meetings. They don't live and breathe. You know, we're currently making it on the order

[00:38:03] [SPEAKER_02]: of $35,000 on most vehicles a week. Paul got me fired up. Um, uh, to compare that to say

[00:38:08] [SPEAKER_02]: most entire fleet, they don't spend every waking minute, most people thinking about Tesla and

[00:38:15] [SPEAKER_02]: what they're doing. They want to know, can I buy a $25,000 car that Tesla makes when it'll

[00:38:21] [SPEAKER_02]: probably be really good. Great. When can I get that? If you said it was going to be, um,

[00:38:27] [SPEAKER_02]: and then the cyber cab, why are you taxi? Like we wanted to just tell people you changed your

[00:38:32] [SPEAKER_02]: plans. Stop talking in all this like vague, um, mumbo jumbo. Just, just say, Hey, listen,

[00:38:40] [SPEAKER_02]: we're not going to release that, that car that we talked about. It's going to be cyber cab.

[00:38:45] [SPEAKER_02]: Fine. But to my knowledge, they have not said anything about that. And by the way, the 7 million

[00:38:52] [SPEAKER_02]: Teslas that are on the road today are not all capable of autonomy. And we'll get to that a little

[00:38:56] [SPEAKER_02]: bit later, but they're, they're just not. So stop saying that nonsense, but it's really the, the part

[00:39:03] [SPEAKER_02]: of it is the smug answer to an investor and a customer that really irritates me. Not everybody wants

[00:39:14] [SPEAKER_02]: to put their car on the robo taxi network. People might want a, let's just say people want a steering

[00:39:21] [SPEAKER_02]: wheel and a pedal in a car that costs $25,000. When can they get that? Never? Great. Next year? Great.

[00:39:29] [SPEAKER_02]: Whether or not you're building 35 autonomous vehicles per week or vehicles that are capable of

[00:39:35] [SPEAKER_02]: autonomous driving is irrelevant. If you don't have the software to make those cars autonomous

[00:39:44] [SPEAKER_02]: right now, we're at level two. Some people might say level two plus that is a marketing term. That's

[00:39:50] [SPEAKER_02]: not real right now. We're at level two and I think Tesla is very close to level three. I do not think

[00:39:56] [SPEAKER_02]: they're that close to level four in terms of what they've released. Right. Um, so let's be honest,

[00:40:04] [SPEAKER_02]: like this is the thing that irritates me to no end about Tesla. What they have done is nothing short of

[00:40:12] [SPEAKER_02]: amazing when it comes to autonomous driving, when they talk about it, however, they phrase it in such a way

[00:40:24] [SPEAKER_02]: that is, and this is mostly Elon is grandiose, more grandiose than it is. And they overstate

[00:40:32] [SPEAKER_02]: capabilities. And I think that quite frankly hurts their brand. I don't, I don't think this is a good

[00:40:39] [SPEAKER_02]: answer. I would like to see them say, Hey, listen, we were going to build a vehicle that would cost a

[00:40:51] [SPEAKER_02]: run. And initially, am I wrong here? Didn't it say, weren't they saying $25,000? And we decided that

[00:40:57] [SPEAKER_02]: it's better to go this direction. And in a roundabout way, they kind of did say that, but,

[00:41:04] [SPEAKER_02]: but, but they didn't. So let's go ahead and listen to the rest of the clip and then I'll catch you on

[00:41:10] [SPEAKER_06]: the other side. It's worth noting with respect to the cyber cab. It's not, it's especially not just a

[00:41:17] [SPEAKER_06]: revolution in vehicle design, but a revolution in vehicle manufacturing. That was also coming with

[00:41:22] [SPEAKER_06]: with the cyber cab, uh, the, the cycle time, like the, um, the, um, the unisper per hour of, of the

[00:41:34] [SPEAKER_06]: cyber cab line. Uh, it is like, this is just really something special. I mean, this is hoping you've

[00:41:43] [SPEAKER_06]: yeah, half ordered magnitude better than other car manufacturing lines. Like, like, like,

[00:41:51] [SPEAKER_06]: like, like, like not, not in the same league is what I'm saying. Not on the same league. Um, so,

[00:41:58] [SPEAKER_06]: so it's, it's, it's, you know, and I, I said, like, going to start with yours ago that the,

[00:42:03] [SPEAKER_06]: maybe the most, the hottest Tesla product to copy will be the battery. Yeah. Just like buy a factory.

[00:42:11] [SPEAKER_05]: Um, you can't reverse engineer a factory in this after my, yeah, it's like, you know,

[00:42:17] [SPEAKER_06]: it's, yeah. Um, the, so the, and, and as we, so we're rapidly evolving, I mean, factory

[00:42:25] [SPEAKER_06]: technology. So, um, so anyway, there's like basically having a, a regular 25K models

[00:42:34] [SPEAKER_06]: pointless. Yeah. It'd be silly. Like we could really add us with what we believe. And, and,

[00:42:39] [SPEAKER_05]: in an autonomous world, what matters is the lowest cost per mile of efficiency of that vehicle. And

[00:42:44] [SPEAKER_06]: that's what we've done with the road taxi. Exactly. Autonomous, it's fully considered cost

[00:42:48] [SPEAKER_06]: per mile, um, is what matters. And if you try to make a car that is, um, you know, essentially

[00:42:58] [SPEAKER_06]: a hybrid manual automatic cars, it's, it's not going to be as good as a dedicated, uh, autonomous

[00:43:05] [SPEAKER_06]: car. Um, so yeah, Sour Cab is, is just not going to have steering wheels and pedals. It's

[00:43:14] [SPEAKER_06]: fully designed optimized for autonomy. Um, but no, it, it, it, it'll, it'll, it'll, you know,

[00:43:20] [SPEAKER_06]: cost on the order of cost, cost roughly 25K. So it is a 25K car and you can, you will be able

[00:43:27] [SPEAKER_06]: to buy one on it exclusively, exclusively if you want. Um, so just want to have steering

[00:43:34] [SPEAKER_06]: mobile phones. If you don't need them.

[00:43:37] [SPEAKER_02]: I agree with Elon when he says that the, the, what they've built in terms of the factories,

[00:43:44] [SPEAKER_02]: right? What they have going on is unparalleled. Like you look at, uh, GM and Ford and some of

[00:43:51] [SPEAKER_02]: these other companies and all the trouble, the trouble they're having with manufacturing, uh,

[00:43:56] [SPEAKER_02]: Volkswagen is another one. You know, they, they tried to take a internal combustion engine factory

[00:44:04] [SPEAKER_02]: in, in some cases or, or processes we'll say, and just translate that over to an electric vehicle.

[00:44:11] [SPEAKER_02]: Cause they thought it would be easier, less parts. It should, this should be no problem.

[00:44:15] [SPEAKER_02]: Much of the car is the same. Yeah, not the case. That's, that's not the case. It didn't,

[00:44:19] [SPEAKER_02]: it didn't happen that way. So I think Tesla has done something really amazing in this regard.

[00:44:27] [SPEAKER_02]: The, I am a little concerned with how optimistic they are

[00:44:34] [SPEAKER_02]: with cyber cab and autonomous driving, not to say that I think the company is going to go out of

[00:44:40] [SPEAKER_02]: business or anything like that, but it does seem like there's a lot of, of, um, they're putting their

[00:44:49] [SPEAKER_02]: eggs in a very specific basket. And I'm going to talk about that here in just a little bit in a

[00:44:54] [SPEAKER_02]: different clip, but why would you risk your company? Um, when right now it's going to be a very small

[00:45:05] [SPEAKER_02]: part of your business, right? I think we went over this on the, um, when we talked about the 10, 10 event,

[00:45:14] [SPEAKER_02]: if Tesla's operating a cyber cab and that cyber cab is cost about 20 cents a mile to operate,

[00:45:22] [SPEAKER_02]: and they're charging 40 cents a mile to operate. And maybe they'll charge more because they'll

[00:45:27] [SPEAKER_02]: realize this is way too low of a number. Um, that means they're only getting 20 cents a mile

[00:45:33] [SPEAKER_02]: in profit, right? That means they have to drive to make 2000 or $200 a day. They have to drive a

[00:45:38] [SPEAKER_02]: thousand miles. That's a lot of driving in Phoenix. That would be a tremendous amount of driving. And

[00:45:45] [SPEAKER_02]: we are very spread apart and we have freeways where you could drive from one end of the Phoenix to the

[00:45:50] [SPEAKER_02]: other in traffic or out of traffic. And, you know, you can get from one side to the other. It takes

[00:45:55] [SPEAKER_02]: a while, but you could definitely do it here. LA would be a little bit different, right? It would take

[00:45:59] [SPEAKER_02]: much longer to go to the same distance in certain times of the day, but that's a lot. Like if you're

[00:46:06] [SPEAKER_02]: thinking while I have 300 vehicles in this area at $200 a day, and it's probably more like 150 or

[00:46:14] [SPEAKER_02]: $100 a day, um, that's not a lot of money per vehicle. It's, it's just not. So I don't, I,

[00:46:22] [SPEAKER_02]: I genuinely don't know what the thought process is here. Um, in terms of why this is going to make them

[00:46:31] [SPEAKER_02]: so much money, there's, there's only so much driving that can be done. Some people are not

[00:46:36] [SPEAKER_02]: going to want to ride in a Tesla because it's autonomous, like in a cyber cab, because it's

[00:46:40] [SPEAKER_02]: autonomous. Some people aren't going to do it because Elon is a part of the company. And you

[00:46:47] [SPEAKER_02]: might be thinking, well, I'm talking about Democrats here. I know plenty of Republicans that don't like

[00:46:51] [SPEAKER_02]: Elon either. I know plenty of Republicans that don't really like the fact that there are electric

[00:46:56] [SPEAKER_02]: vehicles on the road. You know, it's not a, it's not a, like the Volkswagen, one of my closest friends

[00:47:05] [SPEAKER_02]: in the world. I don't know if he's a Republican or not actually. And I've known this guy for 17 years.

[00:47:09] [SPEAKER_02]: I know kind of what his politics are, but I don't know how he votes. He's, he's my, like one of my

[00:47:15] [SPEAKER_02]: three best friends in the entire world. And I, and I still don't know entirely what his politics are,

[00:47:21] [SPEAKER_02]: right? I know how he feels on a lot of things, but politics, I could kind of guess one way or the

[00:47:28] [SPEAKER_02]: other, but it's not something we talk about a whole lot, right? We were hanging out and I said,

[00:47:32] [SPEAKER_02]: hey, do you remember the scout? You know, the, the, the vehicle, the scout, there was an SUV and a

[00:47:37] [SPEAKER_02]: truck. And he's like, yeah, I love that car. I was like, great. They're, they're coming out with

[00:47:42] [SPEAKER_02]: new versions. He's like, oh, that's amazing. And I showed him, he's like, these look great, but they

[00:47:46] [SPEAKER_02]: look like electric vehicles. And I said, they are electric vehicles. And he goes, oh man,

[00:47:50] [SPEAKER_02]: it's like, I just ruined the whole car. I was like, do you like the way they look? Cause he's

[00:47:55] [SPEAKER_02]: commented on the interior and stuff. And he's like, yeah. And I was like, what does it matter

[00:47:58] [SPEAKER_02]: that they're electric? And he is a diehard, um, motorhead. And you know, he wants the, the rumble

[00:48:07] [SPEAKER_02]: and the, the shake of, uh, an internal combustion engine. My point in this is to say that just because

[00:48:16] [SPEAKER_02]: you create something does not mean that people are automatically going to use it because you're a

[00:48:22] [SPEAKER_02]: big name in a certain space. This could easily blow up in Tesla's face. This could also be a huge

[00:48:31] [SPEAKER_02]: success, but they have two years to make it into something, whether it blows up in their face or it's

[00:48:36] [SPEAKER_02]: a success because that's, that's their timeline, right? They have two years to actually get it done.

[00:48:43] [SPEAKER_02]: And then they probably have another two years, maybe three years after that to make it successful.

[00:48:48] [SPEAKER_02]: And if they can't do that in the five or six years that that's lined out there,

[00:48:53] [SPEAKER_02]: they're probably, uh, even if they are successful at it, eventually they're there. That's going to be

[00:48:59] [SPEAKER_02]: a really hard thing to overcome, uh, that initial failure. And in a lot of people's minds,

[00:49:05] [SPEAKER_02]: it will be a failure. Let's take a breather from RoboTaxi and, and, uh, CyberCab and talk a little

[00:49:14] [SPEAKER_07]: bit about improving service center times. Um, the next question is what is Tesla doing to alleviate

[00:49:20] [SPEAKER_03]: long wait times at service centers? So we, we aim on solving problems at the source. So at the factory

[00:49:27] [SPEAKER_03]: before they can even affect our customers. Uh, we believe the best service is no service. And

[00:49:32] [SPEAKER_03]: yeah, it really is. Don't even have them. If the car doesn't break. Yeah, exactly. That's the best

[00:49:37] [SPEAKER_03]: thing. Don't see anyone with the Tesla shirt. You either do it, fix the issue upstream or do it

[00:49:42] [SPEAKER_03]: remotely, do it through software, maybe at work or at home and, you know, cart we parked and we

[00:49:48] [SPEAKER_03]: address the fix the issue. And we've partnered the field with service to make sure we're looking at

[00:49:53] [SPEAKER_03]: the same issues. And additionally, just in Q3 and Q4 of this year long, we've, we have opened and will

[00:49:59] [SPEAKER_03]: open in total at nearly 70 locations. And in North America, we significantly expand the size of each

[00:50:04] [SPEAKER_03]: location and have doubled the size last year compared to this year. Yeah. I think, I think it's like

[00:50:10] [SPEAKER_06]: actually a lot of barriers to having a large service centers because you can, you can have specialization

[00:50:16] [SPEAKER_06]: of labor. You can start, you can start your approach. Yeah. It should be more factory like, um,

[00:50:22] [SPEAKER_06]: you know, where you can have dedicated lanes for particular types of service. And it's way easier

[00:50:26] [SPEAKER_06]: for somebody to become expert in a few different types of repairs than in every repair. Exactly.

[00:50:31] [SPEAKER_03]: This has helped us with the base set of these heavy repairs, like clogging up a lane,

[00:50:37] [SPEAKER_03]: they've dedicated lanes for different types of repairs. And so it's the root that matters

[00:50:41] [SPEAKER_06]: and really treating it like a factory. Yeah. This is, this is where it tells the structure.

[00:50:46] [SPEAKER_06]: I think it certainly has a strong advantage relative to the rest of the auto industry. Um, because

[00:50:51] [SPEAKER_06]: we, we make the cars and we service the cars. Whereas I think there's a bit of a conflict of interest

[00:50:58] [SPEAKER_06]: with the dealer model and the sort of traditional OEM, a dealer model where the dealerships make

[00:51:04] [SPEAKER_06]: most of their money on service. Um, and so they don't, they obviously are just incented to reduce the

[00:51:11] [SPEAKER_06]: servicing cost. Yeah. Uh, whereas in our case, we are incented to reduce the servicing cost because

[00:51:17] [SPEAKER_06]: we, we carry that servicing cost. Um, and we've got a good feedback with, with our, with our cars.

[00:51:22] [SPEAKER_03]: The best. Exactly. Yeah.

[00:51:24] [SPEAKER_03]: Like we would be with the factory, with the service leaders together and send people from the factories

[00:51:29] [SPEAKER_03]: to the field and field to the factory to see it firsthand. Exactly.

[00:51:32] [SPEAKER_03]: By suggestions for, you know, manufacturing as well as for engineering on design.

[00:51:36] [SPEAKER_06]: Yeah. So I, I, I view this as a structural, fundamental structural advantage of Tesla versus the

[00:51:41] [SPEAKER_06]: rest of the auto industry.

[00:51:44] [SPEAKER_08]: I also do a bunch of work on the software side, not only to automate, you know, diagnostics, um,

[00:51:50] [SPEAKER_08]: sort of identifying, you know, what needs to be done to a car before it comes into service, but also

[00:51:54] [SPEAKER_08]: automating all of the preparation work and aligning all the resources that are necessary in order for

[00:52:00] [SPEAKER_08]: the car to be very efficiently worked on once it arrives. So the parts are there,

[00:52:04] [SPEAKER_08]: like the lift is scheduled, the technician's scheduled, like everything that we look at the car and say,

[00:52:08] [SPEAKER_06]: you know, what's wrong with me? And tell us to tell the service editor,

[00:52:10] [SPEAKER_06]: the car is everything ready in advance. Yeah.

[00:52:13] [SPEAKER_06]: Please fix me. And this is what's wrong.

[00:52:18] [SPEAKER_03]: Instead of customer trying to translate, the car is telling us directly and we're pulling that.

[00:52:22] [SPEAKER_06]: Yeah.

[00:52:23] [SPEAKER_06]: You don't need most time you don't need to diagnose the car when it arrives, the car.

[00:52:27] [SPEAKER_06]: Yeah.

[00:52:27] [SPEAKER_06]: This is like, again, fundamental technology advantage and structural advantage compared to the rest of

[00:52:33] [SPEAKER_06]: the auto industry.

[00:52:34] [SPEAKER_06]: Yeah.

[00:52:35] [SPEAKER_06]: It's like, uh, it's yeah.

[00:52:36] [SPEAKER_01]: I think it's underappreciated as to what all we are able to do.

[00:52:40] [SPEAKER_01]: Yeah.

[00:52:40] [SPEAKER_01]: And that's why, because like you said before, most of our cars, except for cyber truck,

[00:52:45] [SPEAKER_01]: look the same.

[00:52:46] [SPEAKER_01]: Yeah.

[00:52:47] [SPEAKER_01]: So people don't realize that it has so much capability.

[00:52:51] [SPEAKER_06]: Yeah.

[00:52:52] [SPEAKER_06]: Yeah.

[00:52:52] [SPEAKER_06]: They look better than other cars, but they're not like obviously like super futuristic.

[00:52:57] [SPEAKER_02]: Yes.

[00:52:58] [SPEAKER_02]: So I think this was a reasonable answer.

[00:53:04] [SPEAKER_02]: Yeah.

[00:53:04] [SPEAKER_02]: The bro-y way that they all jumped in and answered it made me just want to scream out, start a

[00:53:10] [SPEAKER_02]: podcast.

[00:53:10] [SPEAKER_02]: I'll be the first subscriber, but let's not do this at a Tesla event.

[00:53:15] [SPEAKER_02]: You know, um, if you guys want to talk over each other and talk about how great your product

[00:53:20] [SPEAKER_02]: is great, uh, go for it, start a podcast.

[00:53:25] [SPEAKER_02]: But the way they answer this question makes me think that they just sit around all day smelling

[00:53:29] [SPEAKER_02]: each other's armpits and saying good game.

[00:53:34] [SPEAKER_02]: And that's it.

[00:53:35] [SPEAKER_02]: That, that, that, that, that's a meeting.

[00:53:37] [SPEAKER_02]: That's a whole meeting is, Hey, we're going to book an hour.

[00:53:41] [SPEAKER_02]: We're going to smell each other's armpits.

[00:53:42] [SPEAKER_02]: We're going to slap each other on the butt and we're going to say good game.

[00:53:44] [SPEAKER_02]: And then we're going to walk out and we're going to do whatever we're going to do after

[00:53:47] [SPEAKER_02]: that.

[00:53:49] [SPEAKER_02]: Like, come on.

[00:53:53] [SPEAKER_02]: Anyway, maybe I'm being overly persnickety on this.

[00:53:57] [SPEAKER_02]: Let's move on to our next clip and we're getting close.

[00:54:00] [SPEAKER_02]: I think we got two more clips left.

[00:54:03] [SPEAKER_07]: Elon mentioned unsupervised FSD in California and Texas next year.

[00:54:07] [SPEAKER_07]: Does that mean regulators have agreed to it in the entire state for existing hardware

[00:54:10] [SPEAKER_07]: three and four vehicles?

[00:54:12] [SPEAKER_06]: Uh, as I said earlier, California allows regulation.

[00:54:18] [SPEAKER_06]: But they have a pathway.

[00:54:19] [SPEAKER_06]: Yeah.

[00:54:19] [SPEAKER_06]: I mean, there's a pathway, obviously Waymo operates in California.

[00:54:22] [SPEAKER_06]: So there's just a lot of forms, but a lot of approvals that are required.

[00:54:25] [SPEAKER_06]: Um, I mean, I'd be shocked if we don't get approved next year, but it's,

[00:54:29] [SPEAKER_06]: it's just not something we totally control.

[00:54:31] [SPEAKER_06]: Um, but I think we will get approval next year, um, in California and Texas.

[00:54:35] [SPEAKER_06]: And, and, and towards the end of the year, we'll branch out beyond California and Texas.

[00:54:40] [SPEAKER_05]: I mean, I think it's important to reiterate this, like homologating or certifying a vehicle

[00:54:45] [SPEAKER_05]: at the federal level in the U S is done by meeting FMVSS regulations.

[00:54:49] [SPEAKER_05]: All our vehicles today that are produced that are autonomous capable meet all those

[00:54:52] [SPEAKER_05]: regulations.

[00:54:53] [SPEAKER_05]: The cyber cab will meet those regulations.

[00:54:54] [SPEAKER_05]: And so the deployment of the vehicle to the road is not a limitation, but it's a limitation

[00:54:58] [SPEAKER_05]: of the vehicle.

[00:54:59] [SPEAKER_05]: And it's a limitation is what you said at the state level where they control autonomous

[00:55:01] [SPEAKER_05]: vehicle deployment.

[00:55:02] [SPEAKER_05]: Some states are relatively easy, as you mentioned for Texas.

[00:55:05] [SPEAKER_09]: Yeah.

[00:55:05] [SPEAKER_05]: And so other ones have employees like California that may take a little longer.

[00:55:08] [SPEAKER_05]: Other ones haven't set up anything yet.

[00:55:10] [SPEAKER_05]: And so we will work those state by state.

[00:55:12] [SPEAKER_05]: And I do think we should have a federal, um,

[00:55:15] [SPEAKER_06]: I agree that like autonomous vehicles should be approved.

[00:55:17] [SPEAKER_06]: It should be, it should be possible to Congress.

[00:55:19] [SPEAKER_05]: If you're listening, let's get the federal,

[00:55:21] [SPEAKER_06]: there should be a federal approval process for autonomous vehicles.

[00:55:25] [SPEAKER_06]: Um, I mean, that's, that's how the FMVSS started to work.

[00:55:29] [SPEAKER_06]: It's a federal motor vehicle.

[00:55:30] [SPEAKER_06]: The FMVSS is federal.

[00:55:32] [SPEAKER_05]: Yeah.

[00:55:33] [SPEAKER_05]: So, I mean, um, in 2017 and 18 that we, you know,

[00:55:35] [SPEAKER_05]: that's when regulators started looking at it and it's really kind of stalled since then,

[00:55:38] [SPEAKER_05]: but we would appreciate and would support helping out with those.

[00:55:42] [SPEAKER_05]: Right.

[00:55:42] [SPEAKER_06]: It really needs to be not like a national approval is important.

[00:55:45] [SPEAKER_06]: Um, you know, if there's a problem of government efficiency,

[00:55:48] [SPEAKER_06]: I'll try to help make that happen.

[00:55:49] [SPEAKER_06]: I do it for everyone, not just Tesla.

[00:55:52] [SPEAKER_06]: Um, but, uh, you know, just, uh, we get like,

[00:55:56] [SPEAKER_06]: like some, some things in the U S are state by state regulated,

[00:55:59] [SPEAKER_06]: like for example, insurance, like, uh,

[00:56:01] [SPEAKER_06]: it's incredibly painful to do it state by state 50 states.

[00:56:05] [SPEAKER_06]: Um, and, and, uh, I think we should have,

[00:56:07] [SPEAKER_06]: there should be a national approval process for autonomy.

[00:56:11] [SPEAKER_02]: You know what?

[00:56:11] [SPEAKER_02]: I, I do agree with that with some caveats, right?

[00:56:15] [SPEAKER_02]: The United States is such a huge country with such a diverse topography and,

[00:56:21] [SPEAKER_02]: you know, the weather and all the things that go with that.

[00:56:24] [SPEAKER_02]: I think having a national standard for approval would probably not be the greatest thing ever

[00:56:31] [SPEAKER_02]: because with what works, let's just say where regulators happen to be in Washington, D.C.

[00:56:36] [SPEAKER_02]: may not work so great in Nevada up around, uh, Lake Tahoe area,

[00:56:42] [SPEAKER_02]: which if you've ever driven around Lake Tahoe, there's some switchbacks and it's really high

[00:56:46] [SPEAKER_02]: and there's not always guard rails.

[00:56:48] [SPEAKER_02]: And it's a little sketchy up there may not be the best place to be testing autonomous driving,

[00:56:53] [SPEAKER_02]: like driverless cars with passengers in it.

[00:56:57] [SPEAKER_02]: That might not be the best road to do this on.

[00:56:59] [SPEAKER_02]: But, uh, I do think that there needs to be

[00:57:05] [SPEAKER_02]: some minimum standard that needs to be met.

[00:57:10] [SPEAKER_02]: And states could either say we're going to meet this minimum standard or we're going to add to it

[00:57:16] [SPEAKER_02]: or we're going to increase it, but no, no state can go below it.

[00:57:20] [SPEAKER_02]: I think that's important.

[00:57:21] [SPEAKER_02]: And I do agree with the regulatory, uh, like there's, we have tons of regulations, uh, here in

[00:57:28] [SPEAKER_02]: the United States and we probably do everywhere, you know, in the world, right?

[00:57:31] [SPEAKER_02]: Everybody's probably got tons of regulations.

[00:57:33] [SPEAKER_02]: There are probably reasons to have those regulations today, but maybe in 10 years,

[00:57:40] [SPEAKER_02]: the, that regulation is outdated and needs to be updated or needs to be just removed.

[00:57:45] [SPEAKER_02]: Like, I don't know how often that happens here in the United States, but it does seem like we

[00:57:50] [SPEAKER_02]: hold onto regulations for a really long time.

[00:57:52] [SPEAKER_02]: And some of the ones that maybe don't make sense for a specific industry.

[00:57:58] [SPEAKER_02]: And, and I, and I mean, truly don't make sense, not because it makes it hard for that industry.

[00:58:03] [SPEAKER_02]: And they're like, no, this is a silly regulation.

[00:58:05] [SPEAKER_02]: I'm saying like, objectionably, it makes it hard for this industry to move on and, and be progressive.

[00:58:13] [SPEAKER_02]: Um, um, I think those regulations should be looked at and either amended or gotten rid of.

[00:58:19] [SPEAKER_02]: I, I don't know what the process is for that, but I do wonder if Elon's accelerated timeline

[00:58:26] [SPEAKER_02]: on robo taxi and autonomous driving has anything to do with the fact that he thinks Donald Trump

[00:58:33] [SPEAKER_02]: is going to be the next president of the United States.

[00:58:35] [SPEAKER_02]: And Donald Trump has already said that, uh, you know, he would put Elon in charge of going

[00:58:41] [SPEAKER_02]: through regulations and cutting regulations.

[00:58:44] [SPEAKER_02]: And whether or not you think that's a great idea or a bad idea, or you want Donald Trump

[00:58:49] [SPEAKER_02]: to be president, I don't really care.

[00:58:50] [SPEAKER_02]: I don't care who anyone votes for, whether you vote for, you know, Trump, Harris, Oliver

[00:58:54] [SPEAKER_02]: Stein, you could vote for Justin Robert Young's mom, Gloria Young, if you really wanted to,

[00:59:01] [SPEAKER_02]: um, that we can, we can all be friends like that, that part, I'm not trying to bring politics

[00:59:06] [SPEAKER_02]: into this other than to say that if Elon thinks that he has a friend and ally in the white house

[00:59:15] [SPEAKER_02]: and that regulations would be reduced and made easier for his businesses to run,

[00:59:23] [SPEAKER_02]: he might feel that these, um, timelines are realistic.

[00:59:29] [SPEAKER_02]: Whereas other people may be, don't feel like they're realistic.

[00:59:33] [SPEAKER_02]: Right.

[00:59:34] [SPEAKER_02]: Um, but this is, this earnings call has been so bizarre and full of talk of future capabilities

[00:59:40] [SPEAKER_02]: as if they're here now.

[00:59:41] [SPEAKER_02]: I can't help but thinking that Elon's counting his chickens before they hatch, you know?

[00:59:46] [SPEAKER_02]: Um, again, like I think regulation is, is good, but needs to be reviewed and updated on a somewhat

[00:59:56] [SPEAKER_02]: regular basis.

[00:59:56] [SPEAKER_02]: Just to give you an idea on this, when you become an EMT, you have to take a national registry test,

[01:00:03] [SPEAKER_02]: right?

[01:00:03] [SPEAKER_02]: So I am technically, once I pass that test, I am technically eligible to go to any state

[01:00:11] [SPEAKER_02]: and become an EMT.

[01:00:13] [SPEAKER_02]: However, in addition to that, the state that I took the test in, which my first EMT test was

[01:00:19] [SPEAKER_02]: in 1994 in Alaska, I am also a certified EMT in Alaska.

[01:00:24] [SPEAKER_02]: Now, while I was an EMT in Alaska, I moved to Idaho.

[01:00:29] [SPEAKER_02]: Do you think that I was able to just move to Idaho with my national registry and my Alaska

[01:00:36] [SPEAKER_02]: state certification and, uh, we're all good?

[01:00:39] [SPEAKER_02]: No, absolutely not.

[01:00:41] [SPEAKER_02]: That's not what happened.

[01:00:42] [SPEAKER_02]: Um, I had to retake my EMT test and I had to take an EMT refresher when I got to Idaho

[01:00:47] [SPEAKER_02]: so that I could become an Idaho EMT, even though I still had my national registry.

[01:00:54] [SPEAKER_02]: And then when I moved from Idaho to, uh, Nevada, same thing.

[01:01:01] [SPEAKER_02]: I let my national registry lapse.

[01:01:03] [SPEAKER_02]: So I had to retake my national registry and I got my Nevada EMT and my, uh, uh, state or

[01:01:12] [SPEAKER_02]: and my national registry EMT.

[01:01:14] [SPEAKER_02]: So like, even though at one point in time I was nationally registered as an EMT, and that's

[01:01:19] [SPEAKER_02]: the test that every EMT across the United States has to take, I couldn't really move

[01:01:23] [SPEAKER_02]: it anywhere.

[01:01:25] [SPEAKER_02]: Right.

[01:01:25] [SPEAKER_02]: When I came to Arizona, there is a little, um, there was a little reprieve for me, Arizona

[01:01:34] [SPEAKER_02]: and Nevada have like a reciprocity agreement between another.

[01:01:40] [SPEAKER_02]: So since I came from Nevada, I got my EMT in Arizona pretty easily, but, but there's tons

[01:01:47] [SPEAKER_02]: of stuff out there that's, that's like this.

[01:01:49] [SPEAKER_02]: It's just, it's kind of silly if, if you have a, such a thing as a national registry

[01:01:55] [SPEAKER_02]: for EMTs, paramedics, or even doctors go through this, right?

[01:02:00] [SPEAKER_02]: That's just one small inconvenience and inefficiency.

[01:02:03] [SPEAKER_02]: I mean, it's very tiny in the grand scheme of things and, and where we are in the world.

[01:02:08] [SPEAKER_02]: Imagine how it is in big industry.

[01:02:11] [SPEAKER_02]: All right.

[01:02:12] [SPEAKER_02]: I've yapped about this enough.

[01:02:13] [SPEAKER_02]: My, my, my only point is that we could definitely be smarter about how we do things here in the

[01:02:19] [SPEAKER_02]: United States and improve.

[01:02:20] [SPEAKER_02]: Not to say we should let companies and industry do whatever they want.

[01:02:24] [SPEAKER_02]: Cause that, that definitely is not the right answer, but we could, you know, address the

[01:02:30] [SPEAKER_02]: things that need to be addressed and make reasonable regulations for sure.

[01:02:35] [SPEAKER_02]: All right.

[01:02:36] [SPEAKER_02]: Uh, let's get to our final question, which is by this time, you've probably already heard

[01:02:42] [SPEAKER_02]: it, but it is the blockbuster question.

[01:02:45] [SPEAKER_02]: So let's end with that.

[01:02:47] [SPEAKER_02]: Oh, and by the way, this is one of the two analyst questions that were asked and it's a good

[01:02:52] [SPEAKER_02]: question.

[01:02:53] [SPEAKER_07]: And so briefly, could you just, uh, detail, uh, how Robotex will roll out?

[01:02:57] [SPEAKER_07]: Uh, will it start with a Tesla deployed fleet and then allow customers, um, to, to add theirs

[01:03:03] [SPEAKER_07]: on like a subscription model and then will hardware three be capable of level five?

[01:03:06] [SPEAKER_07]: Like that.

[01:03:06] [SPEAKER_07]: That's true.

[01:03:10] [SPEAKER_04]: As you're going to be hardware three, um, what we saw with 12.5 was it was easier to

[01:03:15] [SPEAKER_04]: make progress with starting with hardware four and figuring out the solution and then back

[01:03:20] [SPEAKER_04]: porting into hardware three instead of directly working on hardware three, given that hardware

[01:03:23] [SPEAKER_04]: four has, uh, more like fundamental hardware capabilities.

[01:03:27] [SPEAKER_04]: Uh, I think that trend will continue, uh, into the next few, uh, quarters, uh, as well,

[01:03:32] [SPEAKER_04]: but we first figured out the solution rapidly with, um, AI four, uh, and then backported,

[01:03:37] [SPEAKER_04]: right?

[01:03:37] [SPEAKER_04]: The kernels, it just takes longer to let up those things because it's not fundamentally

[01:03:41] [SPEAKER_04]: supported in the hardware and it's emulated.

[01:03:43] [SPEAKER_04]: Um, but yeah, it's initially working on hardware four backporting it to hardware three.

[01:03:50] [SPEAKER_06]: Yeah.

[01:03:51] [SPEAKER_06]: So it's, we're not, we're not 100% sure.

[01:03:55] [SPEAKER_06]: Um, but, um, but, but our, our, as a short question, um, because, uh, but by some

[01:04:04] [SPEAKER_06]: initials, hardware four has, it's really, uh, several times the capability of hardware

[01:04:07] [SPEAKER_06]: three, it's, it's easier to, to get things to work with hardware four.

[01:04:11] [SPEAKER_06]: Um, and then, uh, it takes a lot of effort to sort of squeeze that functionality into

[01:04:17] [SPEAKER_06]: hardware three.

[01:04:18] [SPEAKER_06]: Um, and, uh, you know, there is, there is some chance that hardware three is, does not

[01:04:26] [SPEAKER_06]: achieve the safety level that, um, allows for unsupervised FSD.

[01:04:33] [SPEAKER_06]: Uh, you know, there is, there is some chance of that.

[01:04:37] [SPEAKER_06]: Um, and, and if, if that turns out to be the case, uh, we will upgrade those who have

[01:04:42] [SPEAKER_06]: bought hardware three FSD for free.

[01:04:45] [SPEAKER_06]: Um, and we have designed the system to be, um, upgradable.

[01:04:51] [SPEAKER_06]: So, uh, and it's really, it's really what, uh, you know, um, just to sort of switch

[01:04:55] [SPEAKER_06]: is sort of switch out the computer type of thing.

[01:04:58] [SPEAKER_06]: Um, like the camera, the cameras are, okay.

[01:05:03] [SPEAKER_06]: Uh, you know, they're, they're, they're capable, but, um, you know, we, we, we, we don't,

[01:05:06] [SPEAKER_06]: we don't actually know the answers to that, but if it does turn out, um, we will take,

[01:05:11] [SPEAKER_06]: we'll make sure we take care of those who have bought MSD on hardware three.

[01:05:13] [SPEAKER_02]: So it doesn't sound like level five autonomy is coming to vehicles equipped with hardware

[01:05:20] [SPEAKER_02]: three.

[01:05:20] [SPEAKER_02]: I have a vehicle equipped with hardware three, and that is a bummer.

[01:05:25] [SPEAKER_02]: Maybe it'll affect the resale value.

[01:05:27] [SPEAKER_02]: I don't really know, but, um, we've been talking about how Tesla is pushing up against the

[01:05:35] [SPEAKER_02]: boundaries of what hardware three could, um, effectively handle.

[01:05:41] [SPEAKER_02]: And, you know, they're having to make their code more efficient and, and really solve some

[01:05:48] [SPEAKER_02]: problems even now with, uh, full self-driving software, which makes sense.

[01:05:54] [SPEAKER_02]: You know, like it's not, it's not bad that hardware three is not able to achieve full autonomy

[01:06:03] [SPEAKER_02]: or might not be able to achieve full autonomy.

[01:06:06] [SPEAKER_02]: That's not bad.

[01:06:07] [SPEAKER_02]: What's bad is the promises made by Elon that it could.

[01:06:12] [SPEAKER_02]: And I am a little heartened, not a little, I'm a lot heartened that they are willing to

[01:06:18] [SPEAKER_02]: swap out the, uh, computer, right.

[01:06:21] [SPEAKER_02]: And upgrade people to a, uh, hardware four with, and use the same cameras.

[01:06:29] [SPEAKER_02]: But in the past, Tesla said that they couldn't, they were not capable.

[01:06:34] [SPEAKER_02]: They're not able to do this in the past.

[01:06:35] [SPEAKER_02]: They've literally said, this isn't something that we could do.

[01:06:39] [SPEAKER_02]: It would be too hard.

[01:06:40] [SPEAKER_02]: So we know that that's not the case.

[01:06:42] [SPEAKER_02]: We know that it's not too hard.

[01:06:44] [SPEAKER_02]: They're going to swap out the, the hardware, um, you know, the computer system itself,

[01:06:49] [SPEAKER_02]: and they're going to use the current cameras and the current cameras are good enough.

[01:06:53] [SPEAKER_02]: Um, man, can you see why this earnings call irked me?

[01:07:00] [SPEAKER_02]: I try to stay as even as possible.

[01:07:04] [SPEAKER_02]: But what really pushes my buttons is when people are taken advantage of, whether those be employees

[01:07:13] [SPEAKER_02]: or customers, investors in this situation and are sold a bill of goods that is not necessarily,

[01:07:22] [SPEAKER_02]: um, what, what they got.

[01:07:24] [SPEAKER_02]: And I feel like Tesla has known this for a while and they have been pushing a narrative

[01:07:34] [SPEAKER_02]: that they, they've known to be incorrect.

[01:07:39] [SPEAKER_02]: And I initially recorded something that went for another three minutes, but I deleted it.

[01:07:45] [SPEAKER_02]: And I will just say, this makes me very disappointed and I'll leave it at that.

[01:07:53] [SPEAKER_02]: So if you want to email me, cause that's, that's our whole show today, you can do that.

[01:07:57] [SPEAKER_02]: It's Bodie, B O D I E at 918digital.com.

[01:08:01] [SPEAKER_02]: You can also follow me on Twitter at 918digital.

[01:08:04] [SPEAKER_02]: And, um, yeah, hopefully the technical problems have been solved and we will get a new episode

[01:08:14] [SPEAKER_02]: to you out on Tuesday, an episode out on time on Friday, and we'll be back up and running

[01:08:21] [SPEAKER_02]: like we were for so long.

[01:08:23] [SPEAKER_02]: Like I was doing so good when it comes to, uh, getting these podcasts out.

[01:08:29] [SPEAKER_02]: And then, uh, there's just a lot going on.

[01:08:32] [SPEAKER_02]: Um, and at some point in time, I will let you in on what's going on.

[01:08:37] [SPEAKER_02]: Not bad things.

[01:08:39] [SPEAKER_02]: Just I, I'm very busy at the moment.

[01:08:41] [SPEAKER_02]: So, um, and then throw all the technical issues that I, that's been going on.

[01:08:46] [SPEAKER_02]: It really slows down progress if I'm being honest.

[01:08:50] [SPEAKER_02]: So thank you everybody for listening.

[01:08:52] [SPEAKER_02]: I hope you all have a wonderful week.

[01:08:55] [SPEAKER_02]: I hope you all have a wonderful weekend and I will talk to you on Tuesday.

[01:09:20] [SPEAKER_00]: Jetzt ist Herbst und bald stehen schon wieder die Feiertage vor der Tür.

[01:09:25] [SPEAKER_00]: Das kann auch für Hunde ganz schön stressig sein.

[01:09:28] [SPEAKER_00]: Viele Vierbeine reagieren unter anderem mit einer gestörten Verdauung.

[01:09:31] [SPEAKER_00]: Und das ist wiederum Stress für ihre Besitzer.

[01:09:34] [SPEAKER_00]: Aber es gibt schnelle und einfache Hilfe.

[01:09:36] [SPEAKER_00]: Das Probiotikum Purina Proplan Forti Flora.

[01:09:39] [SPEAKER_00]: Streu einfach einen Beutel über das tägliche Futter.

[01:09:42] [SPEAKER_00]: Die außergewöhnliche Zusammensetzung mit lebenden guten Darmbakterien stellt das Gleichgewicht im Darm wieder her.

[01:09:48] [SPEAKER_00]: Natürlich kannst du Proplan Forti Flora auch präventiv oder bei alltäglichen Verdauungsbeschwerden einsetzen.

[01:09:54] [SPEAKER_00]: Es unterstützt auch bei Ernährungsumstellungen oder Antibiotika-Einnahme.

[01:09:59] [SPEAKER_00]: Purina Proplan Forti Flora.

[01:10:01] [SPEAKER_00]: Jetzt auf shop.purina.de