1 00:00:03,120 --> 00:00:07,480 Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. 2 00:00:10,000 --> 00:00:15,880 Speaker 2: So, ladies and gentlemen, I have the honor to introduce 3 00:00:17,280 --> 00:00:25,040 Speaker 2: the co founder with me of the Department of Government Efficiency, 4 00:00:27,560 --> 00:00:33,800 Speaker 2: Doge Madison Square Garden. Ladies and gentlemen, give it up 5 00:00:34,120 --> 00:00:38,879 Speaker 2: for the greatest capitalists in their history of the United 6 00:00:38,920 --> 00:00:42,080 Speaker 2: States of America. Elon Musk. 7 00:00:46,960 --> 00:00:49,920 Speaker 3: Well, Joron Musk gives now the richest person on the planet. 8 00:00:50,200 --> 00:00:53,040 Speaker 3: More than half the satellites in space are owned and 9 00:00:53,159 --> 00:00:54,880 Speaker 3: controlled by one man. 10 00:00:55,480 --> 00:00:57,360 Speaker 4: Well, he's a legitimate super genius. 11 00:00:57,560 --> 00:00:58,480 Speaker 5: I mean legitimate. 12 00:00:58,680 --> 00:00:59,040 Speaker 4: He says. 13 00:00:59,040 --> 00:01:01,680 Speaker 6: He's always voted for Democrats, but this year it will 14 00:01:01,680 --> 00:01:02,080 Speaker 6: be different. 15 00:01:02,160 --> 00:01:03,120 Speaker 5: He'll vote Republican. 16 00:01:03,400 --> 00:01:05,880 Speaker 4: There is a reason the US government is so reliant 17 00:01:05,920 --> 00:01:08,440 Speaker 4: on him. Alon Musk is a scam artist and he's 18 00:01:08,480 --> 00:01:09,560 Speaker 4: done nothing. 19 00:01:10,720 --> 00:01:13,399 Speaker 1: Anything he does, he's fascinating people. 20 00:01:22,880 --> 00:01:23,840 Speaker 6: Welcome to Delon, Inc. 21 00:01:23,880 --> 00:01:29,160 Speaker 7: Bloomberg's weekly podcast about Elon Musk. It's Tuesday, October twenty ninth. 22 00:01:29,319 --> 00:01:33,480 Speaker 7: I'm your host, David Popodopolis. What a week for Elon. 23 00:01:34,280 --> 00:01:37,920 Speaker 7: After Tesla reported strong earnings on Wednesday, the stock is 24 00:01:37,959 --> 00:01:42,280 Speaker 7: on a tear, cementing musk status once again as the. 25 00:01:42,240 --> 00:01:43,560 Speaker 4: World's richest person. 26 00:01:43,840 --> 00:01:47,720 Speaker 7: And then on Sunday, Musk got top billing at Donald 27 00:01:47,760 --> 00:01:52,440 Speaker 7: Trump's big and very controversial rally at Madison Square Garden, 28 00:01:52,920 --> 00:01:56,800 Speaker 7: receiving standing ovations from a sold out crowd that just 29 00:01:56,920 --> 00:01:59,520 Speaker 7: couldn't get enough of him. Right now, it sort of 30 00:01:59,520 --> 00:02:03,040 Speaker 7: does like, you know, maybe he really is the greatest 31 00:02:03,160 --> 00:02:06,120 Speaker 7: capitalist in the history of the United States. But the 32 00:02:06,200 --> 00:02:10,360 Speaker 7: challenges ahead for both Musk the CEO and Musk the 33 00:02:10,440 --> 00:02:14,920 Speaker 7: political operator are great test lasts to deliver all, or 34 00:02:15,000 --> 00:02:18,440 Speaker 7: at least much of what Musk is promising, and then 35 00:02:18,520 --> 00:02:21,720 Speaker 7: Trump has to win that election one week from today. 36 00:02:21,960 --> 00:02:23,480 Speaker 6: To go through all this and try to figure out 37 00:02:23,480 --> 00:02:24,200 Speaker 6: what lies ahead. 38 00:02:24,240 --> 00:02:26,880 Speaker 7: I'm here in the studio with Esha Day, stocks reporter 39 00:02:26,960 --> 00:02:29,640 Speaker 7: for US here in New York, Ky Esha Hey, and 40 00:02:30,680 --> 00:02:34,400 Speaker 7: BusinessWeek editor reporter and my main man, Max Chafkin. 41 00:02:34,480 --> 00:02:35,160 Speaker 6: Max, how you doing? 42 00:02:35,280 --> 00:02:36,280 Speaker 4: Hi, David? How's it going? 43 00:02:36,800 --> 00:02:38,919 Speaker 7: And a little later we'll also be mean our good 44 00:02:38,919 --> 00:02:42,160 Speaker 7: friend Ace reporter Dana Hall, who's out in Pittsburgh where 45 00:02:42,160 --> 00:02:44,760 Speaker 7: she's hanging with the Musk political team, and the run. 46 00:02:44,680 --> 00:02:45,400 Speaker 6: Up to the vote. 47 00:02:45,919 --> 00:02:50,000 Speaker 7: Esha, we start with earnings and with you. Last week 48 00:02:50,200 --> 00:02:52,480 Speaker 7: Max and I were just chilling in London, living the 49 00:02:52,520 --> 00:02:55,960 Speaker 7: good life. When all this went down and these numbers 50 00:02:56,000 --> 00:02:59,000 Speaker 7: came out and the holy smokes, were they good from 51 00:02:59,000 --> 00:03:01,720 Speaker 7: the third quarter. But man, I still got to say, 52 00:03:02,120 --> 00:03:05,360 Speaker 7: in a million years, if you had told me the 53 00:03:05,400 --> 00:03:08,160 Speaker 7: way the numbers came out, I would not have come 54 00:03:08,240 --> 00:03:11,880 Speaker 7: up with a one day twenty two percent stock rally. 55 00:03:11,960 --> 00:03:17,240 Speaker 7: It was order unbridled euphoria. Why, I think. 56 00:03:17,120 --> 00:03:20,400 Speaker 8: The reaction that you just described here, David is exactly 57 00:03:20,480 --> 00:03:23,080 Speaker 8: the reaction that the market had right like this is 58 00:03:23,120 --> 00:03:27,000 Speaker 8: like an eight hundred billion dollar market capitalization company. It 59 00:03:27,080 --> 00:03:29,760 Speaker 8: doesn't just rally twenty twenty two person on a day 60 00:03:29,840 --> 00:03:33,920 Speaker 8: unless investors are completely surprised. They were definitely caught off guard, 61 00:03:34,480 --> 00:03:37,280 Speaker 8: And if you look at the numbers like it kind 62 00:03:37,320 --> 00:03:41,240 Speaker 8: of makes sense why right Wall Street analysts were expecting 63 00:03:41,520 --> 00:03:46,600 Speaker 8: a third quarter profit to fall about ten percent from 64 00:03:46,680 --> 00:03:49,920 Speaker 8: the previous year quarter, Tesler came in with a nine 65 00:03:49,960 --> 00:03:53,440 Speaker 8: percent jump, and then on the call, Iron Mask said 66 00:03:53,520 --> 00:03:58,040 Speaker 8: that he expects twenty twenty five vehicle sales that's unit 67 00:03:58,120 --> 00:04:01,200 Speaker 8: sales of cars to rise to twenty to thirty percent 68 00:04:02,600 --> 00:04:04,119 Speaker 8: from twenty twenty four levels. 69 00:04:04,320 --> 00:04:07,360 Speaker 9: So regarding the vehicle business, we are still on track 70 00:04:07,440 --> 00:04:11,600 Speaker 9: to deliver more affordable models starting in the first half 71 00:04:11,600 --> 00:04:17,720 Speaker 9: of twenty twenty five. You know, this is I think 72 00:04:17,720 --> 00:04:19,680 Speaker 9: probably people are wanting to go watchould the sum for 73 00:04:19,760 --> 00:04:25,800 Speaker 9: vehicle fagal sales growth next year. At the risk of 74 00:04:26,600 --> 00:04:27,400 Speaker 9: to take a better. 75 00:04:27,279 --> 00:04:31,159 Speaker 10: Risk here, I do want to give some some rough estimate, 76 00:04:31,160 --> 00:04:34,599 Speaker 10: which is I think twenty to thirty percent vehicle growth 77 00:04:34,839 --> 00:04:38,520 Speaker 10: next year. You know, notwithstanding negative external events. 78 00:04:38,680 --> 00:04:41,479 Speaker 1: That's an ambitious target. Sounds very optimistic. 79 00:04:41,560 --> 00:04:43,880 Speaker 8: But I mean the company's CEO is coming out and 80 00:04:43,920 --> 00:04:46,719 Speaker 8: seeing that on the earning skull, so investors took it, 81 00:04:47,120 --> 00:04:48,960 Speaker 8: took his word, and the stock jumped. 82 00:04:49,240 --> 00:04:53,680 Speaker 7: I get max, how he's forecasting vehicle sales growth next 83 00:04:53,760 --> 00:04:55,080 Speaker 7: year twenty to thirty percent. 84 00:04:55,520 --> 00:05:00,839 Speaker 6: But what in the data of late indicate that they. 85 00:05:00,680 --> 00:05:03,040 Speaker 7: Are going to actually get to twenty to thirty percent 86 00:05:03,160 --> 00:05:03,920 Speaker 7: vehicle sales growth. 87 00:05:03,920 --> 00:05:05,239 Speaker 6: Make sure they're nowhere near. 88 00:05:05,120 --> 00:05:06,880 Speaker 3: That, right, I mean, like Esh is saying, I think 89 00:05:06,920 --> 00:05:09,360 Speaker 3: it's very ambitious. I mean, there are a few there 90 00:05:09,360 --> 00:05:13,640 Speaker 3: are some positive signs, like cybertruck cyber truck sales have 91 00:05:13,760 --> 00:05:17,120 Speaker 3: maybe been in a profit a little bit better than 92 00:05:17,520 --> 00:05:19,560 Speaker 3: then they looked when we were at our kind of 93 00:05:19,640 --> 00:05:21,640 Speaker 3: lowest point in terms of seeing the cyber truck. 94 00:05:21,800 --> 00:05:23,440 Speaker 4: Electric vehicle sales. 95 00:05:23,120 --> 00:05:25,960 Speaker 3: In general look like they're picking up a little bit, 96 00:05:25,960 --> 00:05:27,679 Speaker 3: and that that market may not be quite. 97 00:05:27,520 --> 00:05:32,080 Speaker 6: As squinting squinting. 98 00:05:32,120 --> 00:05:34,240 Speaker 3: But I think the thing we've learned, right is that 99 00:05:34,279 --> 00:05:37,280 Speaker 3: this the group of investors that is bought into Tesla, 100 00:05:37,400 --> 00:05:39,200 Speaker 3: is going along with Elon Musk, Right. 101 00:05:39,360 --> 00:05:41,640 Speaker 4: They're gonna they're gonna pay him as much as he wants. 102 00:05:41,800 --> 00:05:44,160 Speaker 3: They're gonna, remember we were really there were like about 103 00:05:44,200 --> 00:05:46,520 Speaker 3: six months ago investors were like, well, if they're not 104 00:05:46,560 --> 00:05:49,960 Speaker 3: going to make a twenty five thousand dollars affordable car, 105 00:05:50,200 --> 00:05:51,320 Speaker 3: my stock is worthless. 106 00:05:51,320 --> 00:05:51,960 Speaker 6: I am out. 107 00:05:52,080 --> 00:05:55,400 Speaker 3: They have all basically evolved to Elon's view, which is 108 00:05:55,440 --> 00:05:57,080 Speaker 3: the opposite of that view, which is that they don't 109 00:05:57,080 --> 00:05:58,080 Speaker 3: need to make this car. 110 00:05:58,200 --> 00:05:59,839 Speaker 4: It's only going to be a ROBOTAXI. 111 00:06:00,200 --> 00:06:02,520 Speaker 3: The fact that there's no clear path to getting these 112 00:06:02,560 --> 00:06:05,000 Speaker 3: robotaxis on the road doesn't seem to bother anybody. The 113 00:06:05,040 --> 00:06:08,120 Speaker 3: investors who are in Tesla believe in Elon and like 114 00:06:08,160 --> 00:06:11,560 Speaker 3: it's a self selecting group, and he's giving this guidance 115 00:06:11,839 --> 00:06:14,160 Speaker 3: that we're talking about is unusual, right, I believe it's 116 00:06:14,240 --> 00:06:15,520 Speaker 3: unusual anyway for this company. 117 00:06:15,680 --> 00:06:17,640 Speaker 4: So him, you know, going out there. 118 00:06:17,800 --> 00:06:20,400 Speaker 3: Putting out numbers that he expects to hit, even if 119 00:06:20,440 --> 00:06:22,679 Speaker 3: they're very optimistic, is seen as a good sign. 120 00:06:23,240 --> 00:06:23,440 Speaker 6: Esha. 121 00:06:23,600 --> 00:06:28,280 Speaker 7: Where did the stronger than expected profit growth come from? 122 00:06:28,360 --> 00:06:31,120 Speaker 7: It didn't really so much actually come from vehicle sales. 123 00:06:31,160 --> 00:06:32,080 Speaker 7: It came from other things. 124 00:06:32,240 --> 00:06:32,960 Speaker 1: That's a great question. 125 00:06:33,080 --> 00:06:35,960 Speaker 8: Yes, because if you look at revenue, revenue actually missed 126 00:06:36,040 --> 00:06:39,120 Speaker 8: estimates slightly. So revenue, I think the for the quarter 127 00:06:39,200 --> 00:06:43,719 Speaker 8: grew around seven point eight person or something around that. 128 00:06:43,720 --> 00:06:46,760 Speaker 8: That area of Alice, we're looking for a growth of 129 00:06:46,839 --> 00:06:49,680 Speaker 8: around eight person year over years, So revenue missed. So 130 00:06:49,920 --> 00:06:54,040 Speaker 8: so you know what exactly happened? Well, regulatory credits. 131 00:06:54,520 --> 00:06:56,920 Speaker 6: So that is remind us what regulatory. 132 00:06:56,440 --> 00:07:00,080 Speaker 8: Throws sure, So that is a government given credits to 133 00:07:00,200 --> 00:07:04,640 Speaker 8: automakers that make cars that are low emission or zero emission, 134 00:07:04,680 --> 00:07:08,000 Speaker 8: as is in Tesla's case, And because Sessler only makes 135 00:07:08,000 --> 00:07:10,600 Speaker 8: electric cars so all zero emissions, it gets a lot 136 00:07:10,640 --> 00:07:14,920 Speaker 8: of credits in a way. Yes, so it then can 137 00:07:14,960 --> 00:07:18,240 Speaker 8: turn around and sell those credits to other automakers who 138 00:07:18,240 --> 00:07:21,800 Speaker 8: do not make as many as the government requires or 139 00:07:21,840 --> 00:07:22,880 Speaker 8: the regulation requires. 140 00:07:23,120 --> 00:07:26,080 Speaker 1: So that is a really strong source of Okay, so. 141 00:07:25,920 --> 00:07:29,800 Speaker 7: I got a jump in that revenue and what about 142 00:07:29,840 --> 00:07:33,360 Speaker 7: the massive hay roll cuts that he enacted. 143 00:07:33,040 --> 00:07:34,720 Speaker 1: So I do want to get into that as well. 144 00:07:34,760 --> 00:07:37,400 Speaker 8: So yeah, okay, so it's hundred The regularity credits is 145 00:07:37,440 --> 00:07:40,560 Speaker 8: the biggest boost to the profit, but it's also a 146 00:07:40,560 --> 00:07:44,520 Speaker 8: lot of good cost cuts that Mask did. We are 147 00:07:44,560 --> 00:07:47,440 Speaker 8: not fully sure because the company has not laid out 148 00:07:47,560 --> 00:07:49,320 Speaker 8: very clearly where exactly the. 149 00:07:49,280 --> 00:07:50,040 Speaker 1: Cuts come from. 150 00:07:50,280 --> 00:07:52,640 Speaker 8: I've spoken to quite a few Wall Street analysts who 151 00:07:52,680 --> 00:07:55,880 Speaker 8: are also wondering about trying to figure out where exactly 152 00:07:55,960 --> 00:07:58,280 Speaker 8: the cuts came from. But yes, it was a mix 153 00:07:58,360 --> 00:08:03,000 Speaker 8: of the big jump thirty eight percent jump versus estimates 154 00:08:03,040 --> 00:08:04,160 Speaker 8: in that regulatory wow. 155 00:08:04,400 --> 00:08:07,400 Speaker 3: Okay, And just to underline the point that ESH is making, 156 00:08:07,440 --> 00:08:10,680 Speaker 3: so like the regulatory credits are more valuable because other 157 00:08:10,720 --> 00:08:14,040 Speaker 3: automakers are not selling electric cars right and like so 158 00:08:14,240 --> 00:08:17,520 Speaker 3: you've been hearing for more than a year about slowdowns 159 00:08:17,520 --> 00:08:20,360 Speaker 3: in the EV market about you know, GM and Ford 160 00:08:20,400 --> 00:08:25,040 Speaker 3: and other automakers essentially like either struggling to hit targets 161 00:08:25,080 --> 00:08:27,080 Speaker 3: that they set or dialing back. 162 00:08:27,360 --> 00:08:28,400 Speaker 4: Like that all. 163 00:08:28,200 --> 00:08:31,400 Speaker 3: Helps Tesla's business because then those automakers need to buy 164 00:08:31,440 --> 00:08:33,120 Speaker 3: more of these regulatory credits. 165 00:08:33,120 --> 00:08:35,720 Speaker 4: It makes what Tesla has more valuable that's interesting. 166 00:08:35,760 --> 00:08:39,439 Speaker 7: So it effectively means that Tesla Max has a natural 167 00:08:39,559 --> 00:08:43,760 Speaker 7: head against the slowing EV broader EV market because as 168 00:08:43,800 --> 00:08:46,880 Speaker 7: the broader EV market slows and the traditional car makers 169 00:08:46,880 --> 00:08:50,160 Speaker 7: sell more combustion engine vehicles, they get a boost in 170 00:08:50,160 --> 00:08:51,040 Speaker 7: regulatory Yeah. 171 00:08:51,160 --> 00:08:53,080 Speaker 3: Yes, people kind of have brought up the fact that 172 00:08:53,120 --> 00:08:55,760 Speaker 3: it's very strange that Elon Musk is is an enthusiastic 173 00:08:55,800 --> 00:08:59,680 Speaker 3: support of Donald Trump, who's going around essentially dissing electric 174 00:08:59,760 --> 00:09:02,240 Speaker 3: cars on the stump, And it's like, why would Elon 175 00:09:02,320 --> 00:09:03,800 Speaker 3: must do that? And the reason is that they have 176 00:09:03,800 --> 00:09:06,520 Speaker 3: a dominant position right now, and like that dominant position 177 00:09:06,760 --> 00:09:08,000 Speaker 3: is valuable. 178 00:09:07,600 --> 00:09:08,719 Speaker 4: And like maybe it would be. 179 00:09:08,679 --> 00:09:11,280 Speaker 3: More valuable if the EV market were like twice as 180 00:09:11,280 --> 00:09:14,079 Speaker 3: big as it is today, But because of these regulatory 181 00:09:14,080 --> 00:09:16,880 Speaker 3: credits and because people still buy electric cars, even if 182 00:09:16,880 --> 00:09:19,560 Speaker 3: it's not in the crazy numbers that some futurists would 183 00:09:19,600 --> 00:09:23,040 Speaker 3: have predicted a decade ago, it's still valuable. 184 00:09:24,080 --> 00:09:24,720 Speaker 6: Absolutely. 185 00:09:24,760 --> 00:09:29,640 Speaker 7: So, Asha, we heard about great sales growth in automobile 186 00:09:29,679 --> 00:09:31,240 Speaker 7: sales growth for next year, and that's part of what 187 00:09:31,280 --> 00:09:34,080 Speaker 7: got us the stock pop. What else was Musk spinning 188 00:09:34,120 --> 00:09:37,679 Speaker 7: in terms of what the future was going to hold, 189 00:09:38,040 --> 00:09:39,600 Speaker 7: Like talk cyber cab to me. 190 00:09:40,160 --> 00:09:42,920 Speaker 8: Sure, So there was not a lot of new details 191 00:09:42,960 --> 00:09:44,959 Speaker 8: that came out, at least in the earnings call about 192 00:09:44,960 --> 00:09:47,439 Speaker 8: the cyber cab or the Robotaxi, whatever you may call it. 193 00:09:47,760 --> 00:09:51,079 Speaker 8: That kind of disappointment already was fast. I mean, if 194 00:09:51,080 --> 00:09:53,440 Speaker 8: you were a Tesla investor, you're coming into the earnings call, 195 00:09:53,679 --> 00:09:57,680 Speaker 8: you have already bathed in the disappointment from the robotaxy 196 00:09:57,679 --> 00:10:00,480 Speaker 8: and the cyber cab announcement that happened earlier in the month, 197 00:10:00,520 --> 00:10:03,000 Speaker 8: which was on October tenth, so thirteen days later when 198 00:10:03,000 --> 00:10:05,800 Speaker 8: the earnings happened, that is kind of you know done. 199 00:10:06,440 --> 00:10:09,240 Speaker 8: People are looking for signs on what is happening to 200 00:10:09,280 --> 00:10:12,040 Speaker 8: the core business because the focus kind of came back there. 201 00:10:12,400 --> 00:10:15,240 Speaker 6: And the core business being the EV business. 202 00:10:15,320 --> 00:10:19,160 Speaker 8: Yes, where the biggest concern in the past over the 203 00:10:19,160 --> 00:10:21,880 Speaker 8: past year was that EV demand is slowing. And I 204 00:10:22,040 --> 00:10:24,800 Speaker 8: think Wall Street, what Wall Street took away from this 205 00:10:24,920 --> 00:10:28,400 Speaker 8: result was that maybe the worst is past Tesla and 206 00:10:28,440 --> 00:10:29,560 Speaker 8: the whole EV industry. 207 00:10:30,120 --> 00:10:33,200 Speaker 7: Yeah, and I think you know, Esha, that basically what 208 00:10:33,240 --> 00:10:37,400 Speaker 7: it comes down to here is, you know, can the 209 00:10:37,440 --> 00:10:41,079 Speaker 7: core business, the EV business, throw off enough cash right 210 00:10:41,120 --> 00:10:44,320 Speaker 7: now between the EV business the regulatory credits and maybe 211 00:10:44,360 --> 00:10:46,360 Speaker 7: I guess whatever they're getting out of the energy business, 212 00:10:46,800 --> 00:10:50,240 Speaker 7: can they throw off enough cash to fund his grand 213 00:10:50,600 --> 00:10:54,720 Speaker 7: tech vision of the future, you know, the robotaxi optimists, 214 00:10:54,679 --> 00:10:57,720 Speaker 7: et cetera. And as of right now at least, the 215 00:10:57,760 --> 00:11:01,720 Speaker 7: market is giving that a resounding yes, yes and yes. 216 00:11:01,640 --> 00:11:02,520 Speaker 1: Yes absolutely. 217 00:11:02,840 --> 00:11:06,200 Speaker 8: I mean, while we saw this boost of results, I 218 00:11:06,240 --> 00:11:09,040 Speaker 8: think that make no mistake. Though. The reason why Tesla 219 00:11:09,240 --> 00:11:12,040 Speaker 8: is such a vehumit when it comes to market value 220 00:11:12,720 --> 00:11:15,680 Speaker 8: is because people believe this will be the company, or 221 00:11:15,679 --> 00:11:19,560 Speaker 8: Elon Musk will be the person who will solve the 222 00:11:19,640 --> 00:11:22,600 Speaker 8: self driving car problem. That is sort of the corner 223 00:11:22,640 --> 00:11:26,920 Speaker 8: store on which this eight fifty billion dollar company rests, right. 224 00:11:26,320 --> 00:11:29,360 Speaker 7: Eight fifty billion soon according to us, to go to 225 00:11:29,400 --> 00:11:31,840 Speaker 7: thirty trillion, which, by the way, Max makes me feel 226 00:11:31,880 --> 00:11:34,960 Speaker 7: like if Musk and dial up a thirty trillion dollar company, 227 00:11:35,000 --> 00:11:36,800 Speaker 7: you and me, Man, we gotta be able to come 228 00:11:36,880 --> 00:11:40,080 Speaker 7: up something one thirtieth that good, right, one thirtieth that 229 00:11:40,160 --> 00:11:41,960 Speaker 7: could gets us a one trillion dollar company. 230 00:11:42,040 --> 00:11:44,560 Speaker 3: Captured just one thirtieth of the vibes, I think we 231 00:11:44,600 --> 00:11:45,200 Speaker 3: will be rich. 232 00:11:50,880 --> 00:11:53,440 Speaker 7: All right, We're gonna move on to the big show 233 00:11:53,480 --> 00:11:56,640 Speaker 7: at Madison Square Garden. Esha, don't go away though, because 234 00:11:56,679 --> 00:11:59,360 Speaker 7: we're gonna we need you to chime in and help 235 00:11:59,400 --> 00:12:00,120 Speaker 7: Max out here. 236 00:12:00,240 --> 00:12:00,760 Speaker 6: A little bit. 237 00:12:01,200 --> 00:12:04,800 Speaker 3: So, Max, you were there on Sunday Listen. I was 238 00:12:04,800 --> 00:12:07,360 Speaker 3: there the entire Elon and crew. You were the only 239 00:12:07,400 --> 00:12:10,160 Speaker 3: one who didn't come to this. Dana was sitting next 240 00:12:10,160 --> 00:12:14,080 Speaker 3: to me at Madison Square Garden. Our editor Rayhon was 241 00:12:14,200 --> 00:12:15,920 Speaker 3: online with Magnus. 242 00:12:15,440 --> 00:12:18,560 Speaker 4: Our producer. We were all there. I do I don't know, 243 00:12:18,720 --> 00:12:20,960 Speaker 4: but you know you missed out. This was the this 244 00:12:21,120 --> 00:12:21,720 Speaker 4: was the event. 245 00:12:22,120 --> 00:12:23,800 Speaker 6: Can I also say you guys didn't invite me? 246 00:12:24,520 --> 00:12:25,040 Speaker 4: That's fair. 247 00:12:25,840 --> 00:12:29,679 Speaker 7: It seems like everybody else syncd Upesha, did you get 248 00:12:29,679 --> 00:12:30,200 Speaker 7: an invite? 249 00:12:30,400 --> 00:12:30,480 Speaker 3: No? 250 00:12:30,600 --> 00:12:32,360 Speaker 1: I did not. I'm a going to time in. 251 00:12:32,559 --> 00:12:35,800 Speaker 3: So obviously we're a week from election day form President 252 00:12:35,800 --> 00:12:39,600 Speaker 3: Trump is you know, essentially trying it was trying to 253 00:12:39,640 --> 00:12:41,640 Speaker 3: create a huge media moment. 254 00:12:41,720 --> 00:12:44,440 Speaker 4: This is Sunday Night. Ratings obviously are high. 255 00:12:44,440 --> 00:12:47,320 Speaker 3: People are at home, and you really had a who's 256 00:12:47,440 --> 00:12:51,680 Speaker 3: who of the magaverse in Madison Square Garden, all of 257 00:12:51,720 --> 00:12:54,960 Speaker 3: Trump's big surrogates and a handful of others who were 258 00:12:55,000 --> 00:12:58,080 Speaker 3: sort of celebrities or pseudo celebrities and of course Elon 259 00:12:58,200 --> 00:13:00,640 Speaker 3: Musk was a big part of that. Elon had near 260 00:13:00,800 --> 00:13:04,600 Speaker 3: top billing. He was the last person to speak before 261 00:13:04,600 --> 00:13:07,920 Speaker 3: Milania Trump, who spoke immediately before Donald Trump. He spoke 262 00:13:08,040 --> 00:13:10,600 Speaker 3: way after jd Vance, you know, when more people are watching. 263 00:13:10,960 --> 00:13:14,120 Speaker 3: He had had a central position at this rally. And 264 00:13:14,480 --> 00:13:16,839 Speaker 3: you know, I have to say, there's a lot to 265 00:13:16,880 --> 00:13:19,120 Speaker 3: say about this experience, the experience of going to a 266 00:13:19,160 --> 00:13:23,280 Speaker 3: Trump rally. I think Elon's performance on stage was improved 267 00:13:23,320 --> 00:13:24,679 Speaker 3: from Butler way improved. 268 00:13:24,679 --> 00:13:26,440 Speaker 7: I mean I didn't I didn't watch much of it, 269 00:13:26,480 --> 00:13:29,400 Speaker 7: but what I saw, yeah, he has settled down here. 270 00:13:29,760 --> 00:13:31,760 Speaker 3: It seemed like a couple of things that were changed. 271 00:13:31,800 --> 00:13:33,319 Speaker 3: One is they they did not. 272 00:13:33,280 --> 00:13:35,640 Speaker 6: Have him told the stage, They told him no jumping. 273 00:13:35,679 --> 00:13:37,040 Speaker 4: He was not on stage as long. 274 00:13:37,520 --> 00:13:39,920 Speaker 3: And they also gave him this kind of cool video 275 00:13:40,200 --> 00:13:43,400 Speaker 3: which you played earlier, with some loud music, and there 276 00:13:43,440 --> 00:13:45,840 Speaker 3: was you know, they were showing the rocket, you know, 277 00:13:45,880 --> 00:13:48,600 Speaker 3: the rocket landing into the mech. 278 00:13:48,480 --> 00:13:49,679 Speaker 4: Zilla or whatever it was called. 279 00:13:50,000 --> 00:13:52,520 Speaker 3: And I have to say, like there were a lot 280 00:13:52,520 --> 00:13:54,760 Speaker 3: of people in Madison Square, Mass Square Garden was full, 281 00:13:55,200 --> 00:13:58,320 Speaker 3: you know, full of very enthusiastic Trump supportes, and Elon 282 00:13:58,520 --> 00:14:01,200 Speaker 3: kept coming up over in a while again as kind 283 00:14:01,240 --> 00:14:04,160 Speaker 3: of an example of like what they want. 284 00:14:04,360 --> 00:14:08,640 Speaker 4: He's he is like the poster boy of what like 285 00:14:08,880 --> 00:14:09,240 Speaker 4: what the. 286 00:14:09,200 --> 00:14:12,240 Speaker 3: Trump, what Trump wants people to see when they think 287 00:14:12,320 --> 00:14:15,319 Speaker 3: of like what Trump is all about? And he has 288 00:14:15,480 --> 00:14:17,760 Speaker 3: just he has totally embraced that. And then you know, 289 00:14:17,760 --> 00:14:19,880 Speaker 3: when you think of like who got the best response 290 00:14:20,160 --> 00:14:22,400 Speaker 3: in the arena, it was the younger folks. It was 291 00:14:22,680 --> 00:14:26,960 Speaker 3: the veg Ramaswami, Tucker Carlson. I'm including RFK even though 292 00:14:27,000 --> 00:14:29,720 Speaker 3: he's not a young man, but he's sort of a 293 00:14:29,760 --> 00:14:32,920 Speaker 3: newcomer in terms of having this level of support. 294 00:14:33,160 --> 00:14:34,600 Speaker 4: And then it was elon Estra. 295 00:14:34,720 --> 00:14:35,600 Speaker 7: Did you watch any of this? 296 00:14:36,240 --> 00:14:36,640 Speaker 6: I did not. 297 00:14:37,720 --> 00:14:40,480 Speaker 7: Okay, that makes two of us, all right, Max. So 298 00:14:40,840 --> 00:14:44,040 Speaker 7: that's where he was placed. That was the vibe around him. 299 00:14:44,120 --> 00:14:46,640 Speaker 7: What did mister Musk say once he had the mic 300 00:14:46,680 --> 00:14:47,160 Speaker 7: in his hand? 301 00:14:47,920 --> 00:14:51,040 Speaker 3: What he said again, very short remarks, a lot of 302 00:14:51,080 --> 00:14:55,960 Speaker 3: hooting and hollering and cheering. Mostly he flexed, he he screamed, 303 00:14:56,160 --> 00:15:00,760 Speaker 3: He presented his hat, his his quote dark maga had 304 00:15:01,000 --> 00:15:03,480 Speaker 3: he actually had a new font which you called dark 305 00:15:03,720 --> 00:15:05,720 Speaker 3: Gothic maga. 306 00:15:05,800 --> 00:15:06,560 Speaker 9: That's I'm saying. 307 00:15:07,560 --> 00:15:11,560 Speaker 10: I'm not just maga, I'm dark Gothic. 308 00:15:11,240 --> 00:15:15,160 Speaker 4: Maga, and he told people to vote. 309 00:15:15,360 --> 00:15:17,760 Speaker 9: This is a real battle. This is a real election battle. 310 00:15:18,040 --> 00:15:19,040 Speaker 10: So you need to. 311 00:15:18,960 --> 00:15:22,960 Speaker 4: Get friends and family to vote. Make sure they vote. 312 00:15:23,080 --> 00:15:27,160 Speaker 4: Vote early. This is important. We're gonna be putting up 313 00:15:27,320 --> 00:15:31,760 Speaker 4: a scorecard. Okay, an early vote scorecard, state by state, 314 00:15:31,840 --> 00:15:37,200 Speaker 4: county by county. What is the scorecard? Vote early vote. 315 00:15:36,880 --> 00:15:42,680 Speaker 3: Now, I mean, what is becoming increasingly apparent if you're 316 00:15:42,680 --> 00:15:46,480 Speaker 3: following what Elan's doing, is like that is where he's engaged. 317 00:15:46,520 --> 00:15:49,520 Speaker 3: He's engaged in the process of trying to find and 318 00:15:49,600 --> 00:15:53,120 Speaker 3: drum up voters. The other thing that I noticed just 319 00:15:53,160 --> 00:15:55,560 Speaker 3: being in this rally, and if you've been reading the 320 00:15:55,600 --> 00:15:58,400 Speaker 3: coverage of this rally, you'll know that there was a 321 00:15:58,960 --> 00:16:02,520 Speaker 3: stand up comedian who's who started things off with a 322 00:16:02,640 --> 00:16:06,040 Speaker 3: series of racist jokes, and it was very uncomfortable being 323 00:16:06,120 --> 00:16:09,080 Speaker 3: in the arena. Even even many of the audience did 324 00:16:09,080 --> 00:16:12,160 Speaker 3: not seem to be super into it. But that tone, 325 00:16:12,760 --> 00:16:14,760 Speaker 3: which I would say is sort of like an edge 326 00:16:14,800 --> 00:16:19,640 Speaker 3: lord four chan boundary pushing tone, continued throughout the event. 327 00:16:19,720 --> 00:16:23,080 Speaker 3: There were other speakers who made racist cracks. There were 328 00:16:23,640 --> 00:16:26,280 Speaker 3: lots and lots of f bombs, lots of profanity. 329 00:16:26,800 --> 00:16:27,680 Speaker 4: The vibe. 330 00:16:28,200 --> 00:16:30,760 Speaker 3: Essentially, it reminded me of Elon's Twitter feed, and I 331 00:16:30,800 --> 00:16:33,400 Speaker 3: really think there's been this thing where the kind of 332 00:16:33,600 --> 00:16:38,040 Speaker 3: tone that Elon has adopted has converged with where trump 333 00:16:38,120 --> 00:16:41,360 Speaker 3: Ism is today. I think that's a shift for both 334 00:16:41,400 --> 00:16:43,880 Speaker 3: of them, a shift for Trump and also a shift 335 00:16:44,000 --> 00:16:44,440 Speaker 3: for Eelung. 336 00:16:44,680 --> 00:16:48,120 Speaker 7: Yeah, and to this day, the Trump campaign is trying 337 00:16:48,160 --> 00:16:51,240 Speaker 7: to contain the damage from some of that, and it's 338 00:16:51,240 --> 00:16:54,200 Speaker 7: not entirely clear at the end of the day whether 339 00:16:54,440 --> 00:16:57,520 Speaker 7: that event will be a net positive or a net 340 00:16:57,600 --> 00:17:01,360 Speaker 7: negative for the campaig in its final days, because they 341 00:17:01,400 --> 00:17:05,120 Speaker 7: are certainly in scramble mode. We have tape of Trump 342 00:17:05,520 --> 00:17:07,359 Speaker 7: speaking about Elon. Let's listen to it now. 343 00:17:07,600 --> 00:17:10,480 Speaker 6: I say, you're You're a genius. You are a genious. 344 00:17:10,560 --> 00:17:16,159 Speaker 4: You are right. He is special. He is special, and 345 00:17:16,240 --> 00:17:17,639 Speaker 4: you know what he wants more than. 346 00:17:17,520 --> 00:17:22,760 Speaker 2: Anything else for our country to be really well run, solidly, run, 347 00:17:22,920 --> 00:17:26,280 Speaker 2: to be run democratically, all the things that everybody in 348 00:17:26,320 --> 00:17:27,040 Speaker 2: this room wants. 349 00:17:27,040 --> 00:17:30,280 Speaker 6: And I mean, honestly, he left that pad and he went. 350 00:17:30,160 --> 00:17:32,679 Speaker 4: To Pennsylvania to campaign. 351 00:17:33,480 --> 00:17:36,200 Speaker 6: Can you believe it? Now? He's amazing and he's a 352 00:17:36,240 --> 00:17:37,560 Speaker 6: great guy too. He really is. 353 00:17:37,840 --> 00:17:40,480 Speaker 4: Got to remember him. 354 00:17:39,760 --> 00:17:41,960 Speaker 7: You know, as we were saying earlier, it's hard not 355 00:17:42,080 --> 00:17:47,320 Speaker 7: to think that that some of this current euphoria in 356 00:17:47,320 --> 00:17:51,400 Speaker 7: the that's seen in the Tesla stock price is tied 357 00:17:51,480 --> 00:17:55,000 Speaker 7: up in this whole you know, elon embrace of Trump, 358 00:17:55,400 --> 00:17:58,199 Speaker 7: because the two of them are are just getting closer 359 00:17:58,200 --> 00:17:59,920 Speaker 7: and closer with the passing of each and every day. 360 00:18:00,400 --> 00:18:03,080 Speaker 8: Yeah, that's an interesting way to think about what's going 361 00:18:03,080 --> 00:18:06,080 Speaker 8: on behind or in the minds of Tesla investors. Right, 362 00:18:06,119 --> 00:18:08,960 Speaker 8: I'll put this out there. Esla scheys were down yesterday. 363 00:18:09,119 --> 00:18:12,639 Speaker 8: They are also down today last I checked. I'm not 364 00:18:12,720 --> 00:18:14,080 Speaker 8: in front of the terminal, right now. 365 00:18:14,160 --> 00:18:15,920 Speaker 7: You should always have the terminal in front of you. 366 00:18:16,359 --> 00:18:18,919 Speaker 7: Don't admit to that here on air in front of 367 00:18:19,800 --> 00:18:21,680 Speaker 7: millions of listeners, But okay, go. 368 00:18:21,680 --> 00:18:24,199 Speaker 8: On, And I feel like, you know, when this is 369 00:18:24,320 --> 00:18:27,240 Speaker 8: a very hard election for investors, just because you know, 370 00:18:27,280 --> 00:18:31,200 Speaker 8: it's so tight. Though we're seeing signs of Trump really 371 00:18:31,240 --> 00:18:34,280 Speaker 8: getting ahead of Harris. In betting markets, poles are still 372 00:18:34,280 --> 00:18:36,520 Speaker 8: pretty tight. A lot of big investors I talk to, 373 00:18:36,560 --> 00:18:39,879 Speaker 8: institutional investors I talk to, they largely look at the polls. 374 00:18:39,920 --> 00:18:42,440 Speaker 8: They do not have that much faith in the betting market. 375 00:18:42,520 --> 00:18:45,320 Speaker 8: And when it comes to Tesla, which has like this 376 00:18:45,440 --> 00:18:47,240 Speaker 8: election can impact Tesla. 377 00:18:46,920 --> 00:18:49,840 Speaker 1: In two big ways. One is the IRA, the. 378 00:18:49,760 --> 00:18:52,320 Speaker 8: Inflation Reduction Act, the act that was you know, put 379 00:18:52,359 --> 00:18:56,040 Speaker 8: in place by the Bidary administration and something that Trump 380 00:18:56,119 --> 00:18:59,560 Speaker 8: has said he would fully reverse if he wins the election. Right, 381 00:19:00,080 --> 00:19:02,760 Speaker 8: that is going to be bad for Tesla. On the 382 00:19:02,800 --> 00:19:05,480 Speaker 8: other hand, as you know, everything that Max was talking 383 00:19:05,480 --> 00:19:11,359 Speaker 8: about this this this is very obvious advantage. So for 384 00:19:11,400 --> 00:19:13,200 Speaker 8: the lack of a better word, that would be there 385 00:19:13,240 --> 00:19:16,280 Speaker 8: if the CEO is really close with the president again, 386 00:19:16,320 --> 00:19:17,479 Speaker 8: if Trump wins the election. 387 00:19:18,040 --> 00:19:20,040 Speaker 1: So Tesla investors. 388 00:19:19,560 --> 00:19:23,119 Speaker 8: Are finding it very hard to kind of make sense 389 00:19:23,160 --> 00:19:25,720 Speaker 8: of this push and pull, and that I think is 390 00:19:25,720 --> 00:19:28,360 Speaker 8: a big reason why we're not seeing much of an 391 00:19:28,359 --> 00:19:32,680 Speaker 8: impact of the election or everything that Musk is doing 392 00:19:32,720 --> 00:19:36,000 Speaker 8: with Trump on the Tesla Tesla stock. 393 00:19:36,560 --> 00:19:39,720 Speaker 3: I mean, yeah, if Trump has a bad day right 394 00:19:39,720 --> 00:19:43,120 Speaker 3: from now until election day, it's sort of a reasonable 395 00:19:43,119 --> 00:19:45,240 Speaker 3: assumption to think that Tesla may have a bad day 396 00:19:45,280 --> 00:19:46,560 Speaker 3: because because they are linked. 397 00:19:46,640 --> 00:19:48,520 Speaker 7: So if I want to know the current state of 398 00:19:48,520 --> 00:19:50,919 Speaker 7: the race and over the next five six days, I'm 399 00:19:50,960 --> 00:19:53,000 Speaker 7: simply going to follow the Tesla stock price. 400 00:19:53,000 --> 00:19:54,600 Speaker 4: I mean, I think you might want to keep an 401 00:19:54,640 --> 00:19:55,600 Speaker 4: eye on the polls as well. 402 00:19:55,640 --> 00:19:58,080 Speaker 3: But sure, let's let's give that a shot, David, and 403 00:19:58,119 --> 00:20:00,200 Speaker 3: see how we well, you know, one week from today, Hey, 404 00:20:00,200 --> 00:20:01,439 Speaker 3: we'll have probably some sense. 405 00:20:01,720 --> 00:20:04,200 Speaker 7: We'll have a sense indeed, you know, on the betting markets. 406 00:20:04,200 --> 00:20:06,480 Speaker 7: So I will just say again, though, Esha, I actually 407 00:20:06,640 --> 00:20:08,080 Speaker 7: I think that's right. I mean, I think the danger 408 00:20:08,119 --> 00:20:11,159 Speaker 7: with those betting markets is that they are super I 409 00:20:11,240 --> 00:20:15,000 Speaker 7: liquid and you get a bit of a tail wagging 410 00:20:15,000 --> 00:20:17,560 Speaker 7: the dog's sort of phenomenon where I think people infer 411 00:20:17,840 --> 00:20:20,720 Speaker 7: an awful lot in broad a financial markets from what 412 00:20:20,840 --> 00:20:25,480 Speaker 7: a handful of investors are putting down on the outcome. 413 00:20:25,119 --> 00:20:28,000 Speaker 6: Of this race. I will say this about musk Max. 414 00:20:28,119 --> 00:20:32,560 Speaker 7: It's really as we've watched him go from a political 415 00:20:33,240 --> 00:20:36,560 Speaker 7: to okay, he was a Democrat for a while sort 416 00:20:36,640 --> 00:20:39,160 Speaker 7: of and then okay, then became you know, coming out 417 00:20:39,160 --> 00:20:42,119 Speaker 7: of the pandemic more right laning, and then started this 418 00:20:42,200 --> 00:20:45,320 Speaker 7: embrace of Trump, and it's just grown and grown and grown. 419 00:20:45,760 --> 00:20:48,440 Speaker 7: Hell Man, if this election we're two months from now 420 00:20:48,480 --> 00:20:50,600 Speaker 7: and not in the week, he would wind up being 421 00:20:50,600 --> 00:20:52,240 Speaker 7: one of the candidates on the ballot. 422 00:20:52,320 --> 00:20:54,679 Speaker 3: I hope everyone is listening to the Citizen Elon podcast 423 00:20:54,680 --> 00:20:55,880 Speaker 3: where we talk about all about this. 424 00:20:55,920 --> 00:20:56,879 Speaker 4: But thank you David. 425 00:20:57,080 --> 00:20:59,320 Speaker 3: But the you know, Tim Walls the other day said, 426 00:20:59,320 --> 00:21:01,640 Speaker 3: you know JDV is not the running mate, it's it's 427 00:21:01,640 --> 00:21:02,280 Speaker 3: Elon Musk. 428 00:21:02,320 --> 00:21:05,360 Speaker 6: And I think, well, you saw that on Sunday, right, yeah. 429 00:21:05,359 --> 00:21:07,800 Speaker 3: I mean Advance was like sort of you know, just 430 00:21:07,880 --> 00:21:09,080 Speaker 3: shunted off to the side. 431 00:21:09,160 --> 00:21:11,560 Speaker 4: He was very you know, practically ignored in this event. 432 00:21:11,600 --> 00:21:14,440 Speaker 3: And even in Trump's remarks, he had a lot more 433 00:21:14,520 --> 00:21:17,200 Speaker 3: to say about Elon Musk and he did about Jade Vance, 434 00:21:17,359 --> 00:21:20,000 Speaker 3: I do think, you know. And and going to this 435 00:21:20,160 --> 00:21:22,679 Speaker 3: rally for me really hammered at home. I'd never been 436 00:21:22,680 --> 00:21:25,879 Speaker 3: to a Trump rally before. These are cultural events as 437 00:21:25,960 --> 00:21:28,520 Speaker 3: much as they are political events. You know, people who 438 00:21:28,560 --> 00:21:31,560 Speaker 3: are there, it's like it's like going to a rock concert, 439 00:21:31,760 --> 00:21:33,800 Speaker 3: you know, all the way down to the merch and 440 00:21:33,880 --> 00:21:38,480 Speaker 3: Trump exerts a cultural gravity on everybody who's around him. 441 00:21:38,560 --> 00:21:41,200 Speaker 3: And so I think that there, it's going to create 442 00:21:41,200 --> 00:21:43,679 Speaker 3: a lot of it's going to create unpredictability for TESLA 443 00:21:43,920 --> 00:21:45,879 Speaker 3: in the in the months to come, whether or not 444 00:21:45,920 --> 00:21:49,520 Speaker 3: Trump wins, because because now Elon is going to be 445 00:21:49,680 --> 00:21:55,000 Speaker 3: very closely tied to this extremely controversial and like kind 446 00:21:55,000 --> 00:21:58,680 Speaker 3: of borderline unpopular figure. I mean, he's obviously very popular 447 00:21:59,040 --> 00:22:04,760 Speaker 3: among a core group of Republicans, but not necessarily broadly popular. 448 00:22:04,880 --> 00:22:08,200 Speaker 3: And so I think that presents opportunities for Elon Musk. Obviously, 449 00:22:08,240 --> 00:22:10,919 Speaker 3: as we've discussed, if Trump can kind of you know, 450 00:22:11,440 --> 00:22:14,760 Speaker 3: legalize robotaxes or something, but it also creates lots and 451 00:22:14,800 --> 00:22:16,719 Speaker 3: lots of risks for this company. 452 00:22:16,720 --> 00:22:20,200 Speaker 7: As we heard Trump say earlier, Musk is back in Pennsylvania, 453 00:22:20,240 --> 00:22:23,320 Speaker 7: and so too is our very own Dana Hull. And 454 00:22:23,600 --> 00:22:25,600 Speaker 7: let's give her a ring and see what she's finding. 455 00:22:29,400 --> 00:22:33,439 Speaker 7: We have Dana beaming in from Pittsburgh. Hey, Dana, Hey, 456 00:22:33,920 --> 00:22:37,879 Speaker 7: So Dana, you were at MSG on Sunday. Give us 457 00:22:37,960 --> 00:22:40,199 Speaker 7: really briefly your impressions on that, and then we'll and 458 00:22:40,200 --> 00:22:42,800 Speaker 7: then we want to hear what you've seen so far 459 00:22:42,840 --> 00:22:43,560 Speaker 7: in Pennsylvania. 460 00:22:44,440 --> 00:22:47,760 Speaker 5: Yeah, well that's before Garden was really quite spectacle. And 461 00:22:47,920 --> 00:22:49,800 Speaker 5: you know, Max and I were sitting there together and 462 00:22:49,800 --> 00:22:52,120 Speaker 5: I said, what I really did was just the top 463 00:22:52,200 --> 00:22:56,360 Speaker 5: billing that got I mean, he introduced Millennia, Milania, introduced 464 00:22:56,400 --> 00:23:00,119 Speaker 5: Donald Trump. I mean, Musk was like the speak a 465 00:23:00,440 --> 00:23:03,080 Speaker 5: way up higher on the totem pole than Jadie Dance was. 466 00:23:03,119 --> 00:23:05,600 Speaker 5: And I thought that that would really strike and then 467 00:23:06,280 --> 00:23:08,360 Speaker 5: you know, there was a lot of mention of Pennsylvania. 468 00:23:08,480 --> 00:23:10,840 Speaker 5: So I see a Pitsburg and here I am, and 469 00:23:11,119 --> 00:23:14,360 Speaker 5: I literally just got here Monday night. But it's been 470 00:23:14,440 --> 00:23:17,439 Speaker 5: super interesting talking to voters and watching the ads that 471 00:23:17,520 --> 00:23:19,880 Speaker 5: ran during the Steelers game, and just seeing how much 472 00:23:20,400 --> 00:23:24,200 Speaker 5: billionaires are part of like the Democratic messaging, I don't 473 00:23:24,240 --> 00:23:27,199 Speaker 5: let a billionaire buy your vote. And I talked to 474 00:23:27,280 --> 00:23:30,160 Speaker 5: one gentleman who said that anytime he seeds Testel, now 475 00:23:30,280 --> 00:23:32,800 Speaker 5: you know, Testa cars have like a Tea emblem on 476 00:23:32,880 --> 00:23:34,960 Speaker 5: the back, because that now he thinks put the T 477 00:23:35,160 --> 00:23:36,800 Speaker 5: stands for Trump, not Tesslas. 478 00:23:37,880 --> 00:23:41,120 Speaker 7: That is interesting though about the ads, and there's long 479 00:23:41,240 --> 00:23:43,480 Speaker 7: been a sense on this show that to the point 480 00:23:43,520 --> 00:23:48,800 Speaker 7: you're raising, that that Musk is driving, because he's such 481 00:23:48,800 --> 00:23:52,959 Speaker 7: a polarizing figure out, he's driving potential voters away from Trump. 482 00:23:52,960 --> 00:23:55,480 Speaker 7: And that's certainly that the way the Democrats want to 483 00:23:55,560 --> 00:23:59,240 Speaker 7: tag Trump as a body with the world's richest person. 484 00:24:00,200 --> 00:24:03,160 Speaker 7: But Dan, are there any signs or any indication that 485 00:24:04,000 --> 00:24:07,560 Speaker 7: he also, given his star power, he could be luring 486 00:24:07,600 --> 00:24:10,800 Speaker 7: in lots and lots of young male voters for Trump. 487 00:24:11,320 --> 00:24:13,639 Speaker 5: Yeah, I think that that's that's definitely the play. Like, 488 00:24:13,680 --> 00:24:16,320 Speaker 5: if you look at what must Pack is doing, they 489 00:24:16,320 --> 00:24:19,639 Speaker 5: are really targeting young men. Both tend to be voters. 490 00:24:19,960 --> 00:24:23,280 Speaker 5: These men tend to be really like hard physically to 491 00:24:23,359 --> 00:24:25,280 Speaker 5: kind of flip. But if you look at all the 492 00:24:25,280 --> 00:24:27,560 Speaker 5: way that the Pack is kind of pyper targeting there 493 00:24:27,600 --> 00:24:31,000 Speaker 5: at that that is their demographic. 494 00:24:31,400 --> 00:24:34,719 Speaker 3: You know, it's not necessarily flipping voters, right, It's it's 495 00:24:34,760 --> 00:24:38,160 Speaker 3: it's getting voters who wouldn't otherwise, who are very conservative 496 00:24:38,240 --> 00:24:41,119 Speaker 3: or that the Pack believes are very conservative and getting 497 00:24:41,119 --> 00:24:42,000 Speaker 3: them to vote. 498 00:24:42,080 --> 00:24:43,440 Speaker 4: And I mean that's hard. 499 00:24:43,600 --> 00:24:46,080 Speaker 3: That's that's something that like has been kind of like 500 00:24:46,119 --> 00:24:49,359 Speaker 3: the Democratic strategy with young voters for pretty much as 501 00:24:49,359 --> 00:24:52,320 Speaker 3: long as I've been alive, and it doesn't always work. Voters, 502 00:24:52,320 --> 00:24:55,159 Speaker 3: as Dana saying, like young voters tend not to vote. 503 00:24:55,240 --> 00:24:58,240 Speaker 3: And you have a lot of challenges here in Pennsylvania 504 00:24:58,240 --> 00:25:00,640 Speaker 3: and with Elon's Pack, which is that you and primarily 505 00:25:00,680 --> 00:25:04,359 Speaker 3: paid canvassers people who are not necessarily like true believers. 506 00:25:04,640 --> 00:25:07,040 Speaker 3: So it'll be really interesting, you know, both as the 507 00:25:07,080 --> 00:25:08,720 Speaker 3: test of where the politics are, but also as a 508 00:25:08,760 --> 00:25:11,159 Speaker 3: test of like how good is Elon Musk at this? 509 00:25:11,400 --> 00:25:13,479 Speaker 3: Like at the organizing thing, which is something we've never 510 00:25:13,480 --> 00:25:14,280 Speaker 3: seen him do well. 511 00:25:14,320 --> 00:25:18,159 Speaker 7: And that's an interesting point, and Dana, I'm guessing that 512 00:25:18,320 --> 00:25:20,720 Speaker 7: today you'll you'll get a bit better of a sense 513 00:25:20,760 --> 00:25:22,800 Speaker 7: for that, and you will report back with more later. 514 00:25:22,880 --> 00:25:25,800 Speaker 7: But there is also this growing chatter out there that 515 00:25:25,880 --> 00:25:31,399 Speaker 7: the vaunted Musk you know, technical team, technical prowess, the 516 00:25:31,400 --> 00:25:34,720 Speaker 7: group that brought you Tesla, that brought you SpaceX, will. 517 00:25:34,480 --> 00:25:37,640 Speaker 6: Indeed make a. 518 00:25:37,000 --> 00:25:41,880 Speaker 7: Difference in Pennsylvania and in a race where we could 519 00:25:41,880 --> 00:25:45,960 Speaker 7: be talking about two five, ten, thirty thousand votes, you know, 520 00:25:46,080 --> 00:25:47,440 Speaker 7: may make or break this race. 521 00:25:48,119 --> 00:25:50,920 Speaker 5: Yeah, no, that's one hundred good tru because critically, remember 522 00:25:51,000 --> 00:25:54,280 Speaker 5: Republicans that not I typically voted early, intended to be 523 00:25:54,320 --> 00:25:57,280 Speaker 5: election day voter. And you've seen you know, data very 524 00:25:57,280 --> 00:26:02,920 Speaker 5: recently that Republicans really the gap counter voter registration and month, 525 00:26:03,359 --> 00:26:05,639 Speaker 5: you know, day after day, hour after hours, kind of 526 00:26:05,680 --> 00:26:08,919 Speaker 5: tweeting relentlessly, like urging people to vote, you know, at 527 00:26:08,920 --> 00:26:13,040 Speaker 5: Manister Garden telling people to drag your friends to vote. 528 00:26:13,440 --> 00:26:17,640 Speaker 5: He's building a list of registered voters that his pack 529 00:26:17,880 --> 00:26:22,440 Speaker 5: can then contact and text at call and like do motivation. 530 00:26:22,520 --> 00:26:24,919 Speaker 5: And that's you know, I mean lots of people are 531 00:26:24,920 --> 00:26:26,879 Speaker 5: going to find a position if they might win a 532 00:26:26,880 --> 00:26:29,800 Speaker 5: million dollars and has given these million dollar checks out 533 00:26:29,840 --> 00:26:32,040 Speaker 5: to several people, including a couple of people here in 534 00:26:32,040 --> 00:26:32,760 Speaker 5: the Pitsburg area. 535 00:26:33,040 --> 00:26:33,200 Speaker 6: Yeah. 536 00:26:33,240 --> 00:26:35,640 Speaker 7: So now, Max, we we talked about those million dollar 537 00:26:35,760 --> 00:26:38,520 Speaker 7: checks last week, and I believe there's been an update 538 00:26:38,600 --> 00:26:40,400 Speaker 7: or two in the last few days. 539 00:26:40,400 --> 00:26:43,639 Speaker 3: No, well, yeah, local district attorney. I think it's a 540 00:26:43,640 --> 00:26:48,760 Speaker 3: Philadelphia district attorney issuing a bunch of officials in lots 541 00:26:48,760 --> 00:26:50,640 Speaker 3: of jurisdictions essentially. 542 00:26:50,359 --> 00:26:53,080 Speaker 4: Say this is illegal. It sure looks illegal. 543 00:26:53,400 --> 00:26:56,359 Speaker 6: Of course, the DOJ also send them. 544 00:26:56,200 --> 00:27:00,240 Speaker 3: A letter, Yeah, a letter warning that it was or 545 00:27:00,320 --> 00:27:02,679 Speaker 3: might be illegal. I mean this is you know, if 546 00:27:02,680 --> 00:27:04,879 Speaker 3: you followed Elon Musk's career, you know that this is 547 00:27:05,000 --> 00:27:07,680 Speaker 3: kind of a pattern, right. I mean, the you know 548 00:27:08,080 --> 00:27:12,040 Speaker 3: for twenty offer in twenty eighteen was also not kosher, 549 00:27:12,080 --> 00:27:14,280 Speaker 3: and he did it anyway and managed to skate. So 550 00:27:14,480 --> 00:27:17,800 Speaker 3: it seems like that's the strategy here. One thing I 551 00:27:17,840 --> 00:27:20,240 Speaker 3: just want to add to what Danna said. Of all 552 00:27:20,240 --> 00:27:23,320 Speaker 3: the speakers we saw at Madison Square, Guard Dan and 553 00:27:23,359 --> 00:27:27,080 Speaker 3: I were sitting together and it was really surreal experience. 554 00:27:27,080 --> 00:27:28,640 Speaker 4: But Elon was the one who was. 555 00:27:28,760 --> 00:27:33,440 Speaker 3: Most engaged in the actual specifics of organizing, like most 556 00:27:33,440 --> 00:27:36,679 Speaker 3: of the other speakers were basically doing TV hits, like 557 00:27:36,920 --> 00:27:38,879 Speaker 3: in front of a big crowd using the backdrop. It 558 00:27:38,880 --> 00:27:41,719 Speaker 3: was a media event eon As Dana said, like he 559 00:27:41,800 --> 00:27:43,600 Speaker 3: was saying bring your friends to vote, he was talking 560 00:27:43,640 --> 00:27:47,159 Speaker 3: about early voting numbers. He is definitely and this is 561 00:27:47,160 --> 00:27:51,200 Speaker 3: why it's so interesting. He is definitely engaged in community organizing. 562 00:27:51,240 --> 00:27:53,919 Speaker 3: You know, that sort of activity that is so often 563 00:27:54,000 --> 00:27:55,760 Speaker 3: mocked by capitalists. 564 00:27:56,080 --> 00:27:56,960 Speaker 4: That's what he's doing. 565 00:27:57,040 --> 00:28:00,879 Speaker 3: He's trying to bring the same entrepreneurial energy to bear 566 00:28:01,280 --> 00:28:03,919 Speaker 3: on voting. And you know, I think we really have 567 00:28:04,000 --> 00:28:06,280 Speaker 3: no idea what it's going to look like. And that's 568 00:28:06,280 --> 00:28:08,640 Speaker 3: why I'm so interested to see what Dana comes back 569 00:28:08,680 --> 00:28:09,720 Speaker 3: with from Pittsburgh. 570 00:28:09,760 --> 00:28:12,080 Speaker 7: So, Dan, we're going to let you go, and indeed 571 00:28:12,320 --> 00:28:15,160 Speaker 7: a week from today, if not earlier, we'll hear more 572 00:28:15,200 --> 00:28:18,080 Speaker 7: from what you found there in Pennsylvania. That's good talk soon, 573 00:28:20,680 --> 00:28:22,359 Speaker 7: max Esha, thanks. 574 00:28:22,080 --> 00:28:23,520 Speaker 4: For joining, Thanks for having me. 575 00:28:23,880 --> 00:28:24,240 Speaker 8: Thank you. 576 00:28:31,080 --> 00:28:34,399 Speaker 7: This episode was produced by Stacy Wang, Anna Maserakas and 577 00:28:34,480 --> 00:28:38,440 Speaker 7: Rayhan Harmancier are senior editors. The idea for this very 578 00:28:38,520 --> 00:28:42,360 Speaker 7: show also came from Rayhunt Blake Maples handles engineering and 579 00:28:42,440 --> 00:28:47,400 Speaker 7: Emma Sanchez fact checks. Our supervising producers Magnus Henrickson. The 580 00:28:47,400 --> 00:28:50,440 Speaker 7: elon Ing theme is written and performed by Takea Yasuzawa 581 00:28:50,480 --> 00:28:54,520 Speaker 7: and Alex Sugiira. Brendan Francis Newnam is our executive producer, 582 00:28:54,560 --> 00:28:57,600 Speaker 7: and Sage Bauman is the head of Bloomberg Podcasts. A 583 00:28:57,600 --> 00:29:00,600 Speaker 7: big thanks to our supporters Joel Weber and Brett Stone. 584 00:29:00,960 --> 00:29:03,760 Speaker 7: I'm David Papadopolis. If you have a minute, rate and 585 00:29:03,800 --> 00:29:06,320 Speaker 7: review our show, it'll help other listeners find us. 586 00:29:06,600 --> 00:29:10,480 Speaker 6: See you next week.