WEBVTT - Instant Reaction: Tesla Fast Tracks Affordable Models After Earnings Miss

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>All right, Well, shares of Tesla are higher in the

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<v Speaker 2>after hours right now as investors continue to digest those

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<v Speaker 2>first quarter earnings numbers. Global vehicle inventory rose to twenty

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<v Speaker 2>eight days. It's a huge jump from the fifteen days

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<v Speaker 2>at the end of last quarter. Shares high right now

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<v Speaker 2>by just about five percent. First quarter revenue coming in

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<v Speaker 2>at twenty one point three billion dollars that was below

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<v Speaker 2>estimates of twenty two point three billion dollars. Also a

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<v Speaker 2>missed when it comes to EPs adjusted EPs, I should

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<v Speaker 2>say that coming in at forty five cents versus estimates

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<v Speaker 2>of fifty two.

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<v Speaker 3>Cents, shares a teslap about five and a half percent

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<v Speaker 3>in the aftermarket, but also Tesla to accelerate the launch

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<v Speaker 3>of more affordable models at getting a red sticky by

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<v Speaker 3>our team here at Bloomberg. All right, so let's get

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<v Speaker 3>to it with us, Ross Gerber, president and CEO at

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<v Speaker 3>Gerber Kawasaki Wealth and Investment Management, and also Bloomberg BusinessWeek

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<v Speaker 3>columnist Max Chafkin. Ross out there in Santa Monica, California.

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<v Speaker 3>Max here in our Bloomberg Interactive Brokeer studio getting ready

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<v Speaker 3>for another round of Tesla bingo.

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<v Speaker 1>We'll get it do in just a moment.

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<v Speaker 3>Ross investors like it. What do you make of this

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<v Speaker 3>report looking backwards looking forwards?

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<v Speaker 4>Well, I think the good part of the report, because

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<v Speaker 4>this is really the only good part of the report,

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<v Speaker 4>is them saying that they're going to accelerate the production

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<v Speaker 4>of this next gen vehicle platform. And they were pretty

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<v Speaker 4>vague about what they're calling this or you know what

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<v Speaker 4>robo taxi is or is a model to coming, And

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<v Speaker 4>I think that'll be clarified on the conference call. So

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<v Speaker 4>you know, once again, we don't really watch after hours

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<v Speaker 4>trading because he really doesn't represent all the participants and so,

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<v Speaker 4>and we haven't seen the conference call yet, so we'll

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<v Speaker 4>see how this stock trades over the next several months.

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<v Speaker 4>But but there really isn't any other good news in

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<v Speaker 4>that report other than them saying they're going to accelerate

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<v Speaker 4>production even though they just fired all the people that

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<v Speaker 4>are in charge of accelerating production.

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<v Speaker 2>Hey, Ross, remind everybody take a step back here, because

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<v Speaker 2>Carol and I were looking at the terminal a little earlier.

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<v Speaker 2>You've you know, you are a longtime Tesla bull until

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<v Speaker 2>you weren't, and you were a longtime believer and have

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<v Speaker 2>been a longtime believer in the company. You guys still

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<v Speaker 2>own a substantial number of shares over at gerber Kawasaki,

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<v Speaker 2>But what is your position right now in Tesla moving forward?

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<v Speaker 4>So my position is that Tesla is a wonderful company

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<v Speaker 4>that has enormous potential with the CEO who has become

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<v Speaker 4>so divisive that people won't buy the cars. And that's

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<v Speaker 4>why saying is just going to produce more cars doesn't

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<v Speaker 4>address the real issue is why they're not selling cars today,

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<v Speaker 4>and that's the issue that needs to be addressed that

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<v Speaker 4>isn't being addressed. So as a shareholder, we have to

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<v Speaker 4>assess what the future earnings potential of a company is

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<v Speaker 4>based off what their business model is. And when we

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<v Speaker 4>start investing in Tesla over ten years ago, and we've

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<v Speaker 4>had a great run up until the purchase of Twitter,

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<v Speaker 4>and so we've been lowering our position because what we

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<v Speaker 4>feel is that Elon's behavior has hurt the brand in

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<v Speaker 4>such a way that consumers actually don't want to buy

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<v Speaker 4>a Tesla. It's just the best car on the road

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<v Speaker 4>at the best price, so people buy the car reluctantly

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<v Speaker 4>at this point, So I think, you know, we've got

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<v Speaker 4>these problems to solve, and I'm not sure if that

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<v Speaker 4>will be addressed on the conference call today. And that's

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<v Speaker 4>you know, And I don't like being called a Tesla

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<v Speaker 4>bear because I actually think they could turn the company

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<v Speaker 4>around pretty quickly if Elon changed his behavior and stopped

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<v Speaker 4>attacking everybody.

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<v Speaker 1>But I just don't think that's going to happen.

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<v Speaker 4>And so so I think the bigger issue that isn't

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<v Speaker 4>being addressed is doesn't matter how many cars Tesla makes

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<v Speaker 4>if nobody will buy them.

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<v Speaker 3>All Right, So Max chaff can come on and you

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<v Speaker 3>guys do the Elon Inc.

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<v Speaker 1>Podcast.

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<v Speaker 3>You're constantly looking at what he says, what he does.

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<v Speaker 3>You're looking at his kind of his assets, his portfolio,

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<v Speaker 3>your initial thoughts on kind of the headlines we got.

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<v Speaker 5>Yeah, just to kind of underlo Ross is saying something

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<v Speaker 5>like this, but like the note about the new products

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<v Speaker 5>is very vague. It doesn't say we're going to have

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<v Speaker 5>a model too, and it's going to come out on

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<v Speaker 5>this state, which is what investors, many investors have been

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<v Speaker 5>hoping for. It says it sounds like it's saying, I'm

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<v Speaker 5>reading it correctly, They're going to try to essentially make

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<v Speaker 5>the current models more affordable. Now that obviously could allow

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<v Speaker 5>them to sell more cars, but it's a slightly different

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<v Speaker 5>spin on things than what many people have been inspecting.

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<v Speaker 5>The other thing is, as Ross is saying, you know,

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<v Speaker 5>on a Tesla Earning's day, what Elon says, and more importantly,

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<v Speaker 5>how he says it is just as important as as

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<v Speaker 5>what's in these numbers, because he is going to hopefully

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<v Speaker 5>anyway clarify some of this. We also hopefully get a

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<v Speaker 5>sense of like where things stand with robotaxi, where things

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<v Speaker 5>stand with potential affordable cars, and investors seemed to react

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<v Speaker 5>to based on his optimism, you know, a couple quarters

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<v Speaker 5>ago when he was in this kind of dower mood,

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<v Speaker 5>we saw the stock go down. So it's like, do

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<v Speaker 5>we get an optimistic version of Elon or the kind

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<v Speaker 5>of very dour, pessimistic Elon.

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<v Speaker 3>Well, I wonder if you have a question for Ross Max.

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<v Speaker 5>Yeah, Ross, what is your reading on this on this product,

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<v Speaker 5>on this paragraph about the product?

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<v Speaker 1>Well, I think you're dead right about the two things

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<v Speaker 1>you just said.

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<v Speaker 4>Number one, they're of course vague because of the legality

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<v Speaker 4>of it. If they put this down and they don't

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<v Speaker 4>do it right, and since nobody seems to know what

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<v Speaker 4>Elon's going to do, and I'm sure that everybody understands

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<v Speaker 4>that nobody within Tesla knows what the business plan is

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<v Speaker 4>either because they just don't at this point.

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<v Speaker 1>But I think secondly, a.

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<v Speaker 4>Lot of it will be how does Elon answer these

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<v Speaker 4>questions from investors during the conference call?

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<v Speaker 1>And what you said is right.

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<v Speaker 4>If we have sort of a very positive Elon and

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<v Speaker 4>he's refocused and he's going to be working at Tesla

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<v Speaker 4>more and you know, he can play the room right,

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<v Speaker 4>maybe we get a little rally on the stock, but

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<v Speaker 4>it doesn't change the fundamentals. If he doesn't play the

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<v Speaker 4>room right, this becomes a bloodbath. So you know, I'm

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<v Speaker 4>just hoping that he understands the damage that he's done

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<v Speaker 4>and starts to mitigate this versus diving in and sort

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<v Speaker 4>of doubling down.

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<v Speaker 5>It will be interesting to see if Twitter comes up

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<v Speaker 5>or sorry X comes up, you know, because there is

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<v Speaker 5>this question in this sense that he's spent gee Whiz

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<v Speaker 5>a lot of time talking about X, tweeting about X,

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<v Speaker 5>doing X related things. There's even a potential or they're

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<v Speaker 5>going to have a Grock integration inside of the Tesla's

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<v Speaker 5>and I think that to people who are really bought

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<v Speaker 5>into the ev story rather than the you know, Elon

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<v Speaker 5>Musk genius story, which those are two important constituencies here.

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<v Speaker 5>I think for Tesla stock, you know, they would like

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<v Speaker 5>to see him spend less time on his social media network.

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<v Speaker 4>Yeah, well, it's not just less time, it's what he's saying,

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<v Speaker 4>you know, It's like it's not the time, it's that

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<v Speaker 4>what he's saying oftentimes is super divisive and basically racist.

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<v Speaker 4>So it's like, it's really hard to sell products to

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<v Speaker 4>people when the CEO says things that are really hurtful

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<v Speaker 4>to people, including me.

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<v Speaker 1>For that matter.

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<v Speaker 3>Now, and we've talked with you about that absolutely ross.

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<v Speaker 3>What could Elon say on the call, or Elon and

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<v Speaker 3>company say on the call that would make you more

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<v Speaker 3>excited about the company or once again say you know

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<v Speaker 3>kind of oh Elon really well.

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<v Speaker 4>If I had my dream come true, he'd say I'm

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<v Speaker 4>coming back to work at Tesla, because he basically doesn't

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<v Speaker 4>work at Tesla, and he would say, I'm done tweeting

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<v Speaker 4>all this garbage and politics. I'm going to really focus

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<v Speaker 4>on advancing sustainable transportation and energy, and that we're going

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<v Speaker 4>to release this lower priced car and the strategy that

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<v Speaker 4>we all bought into three years ago, you know, and

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<v Speaker 4>the stock was at all time highs and earnings were

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<v Speaker 4>going up, you know, fifty hundred percent a year.

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<v Speaker 1>You know, it was like it was like a different

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<v Speaker 1>world than today.

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<v Speaker 4>And it's amazing to me he doesn't understand this difference,

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<v Speaker 4>that that really is his responsibility. And so as a shareholder,

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<v Speaker 4>I have to say it's an extremely distressing time because

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<v Speaker 4>the valuation of Tesla is premised off all these great

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<v Speaker 4>technological innovations, none of which have come to fruition yet.

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<v Speaker 4>So his focus is one hundred percent what needs to

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<v Speaker 4>be happening right now.

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<v Speaker 2>Hey, Ross, I do want to just end with with

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<v Speaker 2>one last question about the cost of producing these vehicles.

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<v Speaker 2>It seems like Tesla is doing everything I can to

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<v Speaker 2>bring down the cost of producing these cars, the cost

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<v Speaker 2>of goods sold to Are they what numbers do you

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<v Speaker 2>want to see there?

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<v Speaker 4>Well, they are, but their margins continue to go lower.

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<v Speaker 4>If you look at the report, which I've only had

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<v Speaker 4>a minute to look at, you know, their vehicle margins

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<v Speaker 4>continue to go lower. They're operating margins go lower. Their

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<v Speaker 4>net margins go lower, so they're able to lower the

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<v Speaker 4>price of the car. But what they're not able to

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<v Speaker 4>do is keep that going as fast as they're they're

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<v Speaker 4>lowering the price of the vehicles, so it's still hurting

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<v Speaker 4>them even though they're lowering the cost of the car,

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<v Speaker 4>and it doesn't bring in a bigger market.

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<v Speaker 1>But you're not creating any demand. And this is I

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<v Speaker 1>have said it a hundred times. Every company in America

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<v Speaker 1>advertises for a reason.

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<v Speaker 4>People need to know why your products are superior. And

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<v Speaker 4>all the Tesla people have bought in Teslas, you know,

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<v Speaker 4>so all these YouTubers can tweet all they want, but

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<v Speaker 4>everybody wanted to Tesla bought a Tesla. So you've got

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<v Speaker 4>to get new customers. And the new customers are being

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<v Speaker 4>told that charging sucks and evs are bad and this

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<v Speaker 4>and that and that, and Donald Trump says they're bad

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<v Speaker 4>and this is all they see all day. And then

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<v Speaker 4>it's like, why would they go buy a Tesla because

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<v Speaker 4>there's not one ad anywhere that tells you how great

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<v Speaker 4>the cars are?

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<v Speaker 1>Because they are.

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<v Speaker 3>Great, right and you still own them right real quickly?

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<v Speaker 1>Yes or no, yeah I do.

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<v Speaker 4>I just don't understand why they don't tell people how

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<v Speaker 4>great their vehicles are.

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<v Speaker 3>All right, Ross Gerbert, so appreciated. We know you've got

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<v Speaker 3>to I think run over to our TV guys. President

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<v Speaker 3>CEO Gerba Kawasaki, so appreciate you joining us. Max Chafkin

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<v Speaker 3>is staying with us a Bloomberg BusinessWeek and we want

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<v Speaker 3>to roll into the conversation.

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<v Speaker 2>Ed Ludlow, Yeah, he's co host of Bloomberg Technology on

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<v Speaker 2>Bloomberg TV. He joins us from the San Francisco Beer.

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<v Speaker 2>I do want to note care all the Tesla first

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<v Speaker 2>quarter automotive gross margin excluding regulatory credits is at sixteen

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<v Speaker 2>point four percent yea for the quarter.

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<v Speaker 3>Stack up six point three percent in the aftermarket.

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<v Speaker 2>Hey, I'd come on in here and explain why you

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<v Speaker 2>think the stock is moving higher given that a lot

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<v Speaker 2>of these numbers came in below estimates.

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<v Speaker 6>Yeah. I think that the print and the numbers in

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<v Speaker 6>after has have nothing to do with the quarter gone.

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<v Speaker 6>Everyone's looked past it. Frankly, what the shareholder deck outlines

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<v Speaker 6>is almost line line exactly what Danna and I outlined

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<v Speaker 6>in the Big Take on Sunday, which is on the

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<v Speaker 6>affordable ev A big body of work had already been

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<v Speaker 6>done at the component and production process level, and Tesla

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<v Speaker 6>is moving forward with a more affordable lineup of evs

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<v Speaker 6>based on that technology. It was really misunderstood. It's like

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<v Speaker 6>the world was banking on the Honda Civic of evs

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<v Speaker 6>and Tesla to be the one to bring it. But

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<v Speaker 6>my understanding from sources that was never the case. And

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<v Speaker 6>if you read the shareholder deck, they spell it out

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<v Speaker 6>pretty clearly. They've looked at this kind of more holistically

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<v Speaker 6>and there will be more affordable evs coming late twenty

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<v Speaker 6>twenty five. Caution caveat Muskers often miss his own deadlines.

0:10:38.480 --> 0:10:38.760
<v Speaker 4>You know that.

0:10:38.800 --> 0:10:40.319
<v Speaker 6>I always say that, but it's like.

0:10:40.280 --> 0:10:41.400
<v Speaker 5>A something for everyone.

0:10:41.760 --> 0:10:45.760
<v Speaker 6>Yeah, you know that, And that was me protecting myself

0:10:45.760 --> 0:10:47.720
<v Speaker 6>from all the people who may go after me on

0:10:47.760 --> 0:10:51.760
<v Speaker 6>social media. But explicitly it states that they are working

0:10:51.800 --> 0:10:55.280
<v Speaker 6>on a purpose built ROBOTAXI. And so we went into

0:10:55.280 --> 0:10:58.240
<v Speaker 6>this saying, if you're a Wall Street institutional giant who

0:10:58.240 --> 0:11:00.680
<v Speaker 6>really wanted to see an affordable EV, or you're the

0:11:00.720 --> 0:11:03.600
<v Speaker 6>technology investor or the retail investor that's kind of all

0:11:03.640 --> 0:11:07.040
<v Speaker 6>in on the Tesla thesis around autonomy, you've got that

0:11:07.160 --> 0:11:09.640
<v Speaker 6>as well, And really I think the market adjoining in

0:11:09.679 --> 0:11:11.960
<v Speaker 6>hands to play that in after hours.

0:11:13.000 --> 0:11:16.360
<v Speaker 5>You know, the question is like what is an affordable

0:11:16.600 --> 0:11:18.719
<v Speaker 5>EV And I think one of the things one of

0:11:18.760 --> 0:11:21.200
<v Speaker 5>the ways that Elon Musk could clarify is to is

0:11:21.240 --> 0:11:23.520
<v Speaker 5>to sort of say that, you know, he over the

0:11:23.559 --> 0:11:28.040
<v Speaker 5>weekend amid all this speculation, he tweeted a screenshot showing

0:11:28.120 --> 0:11:32.559
<v Speaker 5>the model. Why priced at twenty nine thousand dollars sounds prettyffordable.

0:11:32.600 --> 0:11:36.400
<v Speaker 5>Course that includes tax credit, which you know not everybody gets,

0:11:36.679 --> 0:11:40.040
<v Speaker 5>and a and like a five thousand dollars sort of

0:11:40.080 --> 0:11:41.520
<v Speaker 5>assumption of gas savings.

0:11:41.600 --> 0:11:43.439
<v Speaker 4>So so like you could.

0:11:43.320 --> 0:11:46.160
<v Speaker 5>Imagine a situation where he tries to argue, like, look,

0:11:46.200 --> 0:11:48.800
<v Speaker 5>we're going to cut a bunch of costs out of

0:11:48.840 --> 0:11:52.040
<v Speaker 5>this thing, and we're going to make it affordable as is,

0:11:52.080 --> 0:11:54.200
<v Speaker 5>like we don't need an additional model, which is a

0:11:54.240 --> 0:11:58.720
<v Speaker 5>really intriguing proposal. That is a huge, you know, pretty

0:11:58.760 --> 0:12:02.360
<v Speaker 5>big departure from how the car industry normally does things,

0:12:02.640 --> 0:12:04.800
<v Speaker 5>and in certain ways I get is saying maybe not

0:12:04.840 --> 0:12:07.080
<v Speaker 5>that surprising, right, that's kind of you know, Elon Musk

0:12:07.120 --> 0:12:10.520
<v Speaker 5>has long model this company after Apple. You know, Apple

0:12:10.640 --> 0:12:13.480
<v Speaker 5>sells a very you know, modest product line all the

0:12:13.480 --> 0:12:15.600
<v Speaker 5>products kind of look the same. They're all kind of expensive.

0:12:15.640 --> 0:12:18.280
<v Speaker 5>You know, you could sort of imagine his effort to

0:12:18.280 --> 0:12:20.360
<v Speaker 5>do this, and and you know, who knows if it's

0:12:20.400 --> 0:12:23.360
<v Speaker 5>going to work, but it definitely is outside of what

0:12:23.440 --> 0:12:26.199
<v Speaker 5>you know, a normal sort of car company, nor normal

0:12:26.200 --> 0:12:28.880
<v Speaker 5>car company analyst would expect to see, would want to see.

0:12:28.960 --> 0:12:31.120
<v Speaker 3>You know, guys, I'm looking at a live blog Craik

0:12:31.160 --> 0:12:35.079
<v Speaker 3>Kanter weighing in our BNF Electric Vehicle analysts and saying,

0:12:35.320 --> 0:12:38.840
<v Speaker 3>you know where he talks about these new models and

0:12:38.920 --> 0:12:41.680
<v Speaker 3>talks about I don't know, new models ahead of our

0:12:41.679 --> 0:12:44.800
<v Speaker 3>previously communicated startup production the second half of twenty twenty five,

0:12:44.880 --> 0:12:48.640
<v Speaker 3>accelerating that launch, he he writes by including these statements

0:12:48.640 --> 0:12:50.760
<v Speaker 3>in the investor decka shows Tesla has identified that a

0:12:50.840 --> 0:12:53.079
<v Speaker 3>lack of new models is a problem. But are there

0:12:53.160 --> 0:12:56.520
<v Speaker 3>actually actions being taken or just a continued lack of clarity?

0:12:56.880 --> 0:12:58.800
<v Speaker 3>And I guess you know, I'm going to go back

0:12:58.800 --> 0:13:00.920
<v Speaker 3>to you Max for a second, like, right, we want

0:13:01.160 --> 0:13:04.000
<v Speaker 3>a little bit more specifics, right, And what this means?

0:13:04.400 --> 0:13:07.520
<v Speaker 5>Yeah, again, it almost it does have the feel of

0:13:08.760 --> 0:13:11.760
<v Speaker 5>a deck that's being written for maximum optionality, and and

0:13:11.800 --> 0:13:13.480
<v Speaker 5>you know this is all happening.

0:13:13.880 --> 0:13:14.720
<v Speaker 1>Very very quickly.

0:13:14.800 --> 0:13:18.400
<v Speaker 5>You know, we saw we've seen Elon Musk get re engaged.

0:13:18.640 --> 0:13:21.360
<v Speaker 5>It appears in any case, you know, connected this layoff

0:13:21.440 --> 0:13:24.000
<v Speaker 5>in a way that has seemed, at least according to

0:13:24.040 --> 0:13:26.079
<v Speaker 5>you know, the reports that Bloomberg is published that Ed

0:13:26.200 --> 0:13:30.120
<v Speaker 5>has has written very hasty, and so you do wonder

0:13:30.240 --> 0:13:32.800
<v Speaker 5>like maybe they are trying to figure this out as

0:13:32.800 --> 0:13:35.440
<v Speaker 5>we speak, and and and who knows if we're definitely

0:13:35.480 --> 0:13:38.040
<v Speaker 5>going to get that level of clarity on the call

0:13:38.040 --> 0:13:40.960
<v Speaker 5>from Elon Musk, although given Elon Musk like he cannot

0:13:41.000 --> 0:13:44.320
<v Speaker 5>help himself but sort of say controversial things. You know,

0:13:44.360 --> 0:13:47.400
<v Speaker 5>he's got that sort of trump characteristic of being sort

0:13:47.400 --> 0:13:51.440
<v Speaker 5>of really really honest. Sometimes to a fault, he may

0:13:51.559 --> 0:13:53.480
<v Speaker 5>you know, spout something off that could send the stock

0:13:53.559 --> 0:13:55.000
<v Speaker 5>in any number of directions.

0:13:55.160 --> 0:13:57.400
<v Speaker 2>And to that point, you know, what's like, what's what

0:13:57.440 --> 0:13:59.360
<v Speaker 2>are you looking for on the call at if you're

0:14:00.080 --> 0:14:00.760
<v Speaker 2>when you're tuning.

0:14:00.559 --> 0:14:03.440
<v Speaker 6>In the car. So I don't want to be inconsistent,

0:14:03.480 --> 0:14:05.319
<v Speaker 6>you know, I posted in the blog before we kick

0:14:05.360 --> 0:14:09.400
<v Speaker 6>things off, clarity, but actually to be fair, I think

0:14:09.400 --> 0:14:12.160
<v Speaker 6>that Tesla has given us one single line of clarity.

0:14:12.160 --> 0:14:14.640
<v Speaker 6>So I'm just going to read it. This update may

0:14:14.720 --> 0:14:19.000
<v Speaker 6>resolve in a result in achieving less cost reductions than

0:14:19.080 --> 0:14:22.880
<v Speaker 6>previously expected. So Carol read out the section in which

0:14:22.880 --> 0:14:26.520
<v Speaker 6>they outline the explanation. There will be multiple affordable models,

0:14:26.760 --> 0:14:29.280
<v Speaker 6>but I think that the market, and indeed, because Elon

0:14:29.360 --> 0:14:31.960
<v Speaker 6>Musk kind of guided us there was thinking this will

0:14:31.960 --> 0:14:34.360
<v Speaker 6>be a brand new model, maybe it will be called

0:14:34.560 --> 0:14:38.600
<v Speaker 6>M two, Maybe it will specifically cost twenty five thousand

0:14:38.680 --> 0:14:41.280
<v Speaker 6>US dollars. I think in that single line of the

0:14:41.280 --> 0:14:45.040
<v Speaker 6>shareholder deck on page ten, they're saying it will be

0:14:45.200 --> 0:14:47.720
<v Speaker 6>less expensive than the average cost of a Y or three.

0:14:47.760 --> 0:14:50.840
<v Speaker 6>Now it will not be twenty five thousand dollars. And

0:14:50.920 --> 0:14:53.880
<v Speaker 6>so now we go to the big picture clarity. How

0:14:53.920 --> 0:14:56.280
<v Speaker 6>many of these things will you build? And what is

0:14:56.320 --> 0:15:00.800
<v Speaker 6>the strategy with that visa v ROBOTAXI because they all

0:15:00.840 --> 0:15:04.800
<v Speaker 6>occupy the same physical production space in Austin. Based on

0:15:04.840 --> 0:15:08.440
<v Speaker 6>our understanding, I also would think maybe the tone of

0:15:08.480 --> 0:15:11.920
<v Speaker 6>Elon Musk tim to answer your question, I thought he'd

0:15:11.920 --> 0:15:14.360
<v Speaker 6>be a bit combative and frazzled. Yeah, now I just

0:15:14.520 --> 0:15:14.960
<v Speaker 6>don't know.

0:15:16.600 --> 0:15:22.080
<v Speaker 3>Wait wait for surprise, all right, ed, Lola, We're gonna

0:15:22.120 --> 0:15:23.520
<v Speaker 3>let you go because we know you've got a full

0:15:23.560 --> 0:15:26.560
<v Speaker 3>play to continue. But of course Bloomberg Technology co host

0:15:26.680 --> 0:15:29.000
<v Speaker 3>ed Ludlow. But we got to talk about with Max

0:15:29.440 --> 0:15:33.080
<v Speaker 3>final minute here or so Elon Bingo right.

0:15:33.080 --> 0:15:36.840
<v Speaker 5>You know again, I've talked about this three months ago.

0:15:37.160 --> 0:15:40.320
<v Speaker 5>This is a thing that many Tesla watchers, bulls bears,

0:15:40.320 --> 0:15:43.840
<v Speaker 5>everybody in between, Elon Musk, super fans, Elon Musk's haters

0:15:44.040 --> 0:15:46.360
<v Speaker 5>tend to do, which is to kind of create a

0:15:46.360 --> 0:15:49.720
<v Speaker 5>Bingo card and look for some of his catchphrases. So

0:15:50.000 --> 0:15:52.320
<v Speaker 5>we at the Elon Ing Podcast, we've got a new

0:15:52.320 --> 0:15:55.320
<v Speaker 5>episode out right now and we have this Bingo card.

0:15:55.520 --> 0:15:58.520
<v Speaker 5>Just want to flag a few items. Horse that would

0:15:58.520 --> 0:16:02.280
<v Speaker 5>be one. Now, Elon Musk has said that anyone who's

0:16:02.360 --> 0:16:05.080
<v Speaker 5>driving a non autonomous card not a robotaxi, it'll be

0:16:05.120 --> 0:16:07.480
<v Speaker 5>like driving a horse compared to a car. So see

0:16:07.480 --> 0:16:10.600
<v Speaker 5>if he tries that line on us a few others

0:16:11.360 --> 0:16:16.120
<v Speaker 5>and to Grock uh uh and uh for reasonably optimistic.

0:16:16.160 --> 0:16:19.920
<v Speaker 5>He's often reasonably optimistic about lots of things. So so yeah,

0:16:20.000 --> 0:16:21.560
<v Speaker 5>lots of fun to be had here and we'll see

0:16:21.600 --> 0:16:22.440
<v Speaker 5>if anyone gets bingo.

0:16:23.120 --> 0:16:24.040
<v Speaker 3>It's a fun card.

0:16:24.360 --> 0:16:26.600
<v Speaker 2>Quefully we'll get you back in three months and also

0:16:27.200 --> 0:16:29.480
<v Speaker 2>earlier than three months. I'll be sure to check out

0:16:29.480 --> 0:16:32.080
<v Speaker 2>the Elon Inc. Podcast wherever you get your podcast. That's

0:16:32.080 --> 0:16:35.160
<v Speaker 2>Max Chafkin, a columnist for Bloomberg Business Week,