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Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

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Speaker 2: Good morning, I'm John Tucker.

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Speaker 1: And I'm Karen Moscow. Here are the stories we're following today.

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Speaker 2: Karen, we're going to bring you the most recent Bloomberg

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Speaker 2: presidential poll and the tail the blowout earnings from Tesla.

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Speaker 2: But we begin with labor problems at Boeing factory workers

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Speaker 2: that rejected a new contract. Let's get the very latest

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Speaker 2: with Bloomberg's Lisa Matteo. Lisa, good morning, Good.

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Speaker 1: Morning, Johnny.

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Speaker 3: Have this tenetive offer, which would have increased machinist wages

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Speaker 3: by thirty five percent over four years, it was voted

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Speaker 3: down by sixty four percent of union members who cast

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Speaker 3: their ballots. Now, that was smaller than the ninety four

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Speaker 3: percent vote back in September, but it's still a setback

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Speaker 3: for Boeing to get its operations back on track. CFO

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Speaker 3: Brian West. He said the company expects to burn around

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Speaker 3: four billion dollars in cash during the fourth quarter. Now,

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Speaker 3: that would bring the total free cash out free cash

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Speaker 3: outflow to around fourteen billion for twenty twenty four and

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Speaker 3: that's the worst performance since the pandemic effected our travel

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Speaker 3: in twenty twenty Boeing shares right now down about three

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Speaker 3: percent now, although this latest contract offer was a bump

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Speaker 3: up from the initial twenty five percent pay increase, the

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Speaker 3: biggest sticking point for workers reinsteing their defined benefit pension plan.

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Speaker 3: So for now, John, it's back to the negotiating table

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Speaker 3: after six weeks of talks in New York. Lisa Mateo,

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Speaker 3: Bloomberg Radio.

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Speaker 1: All right, Lisa, thank you all. Another major story that

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Speaker 1: we're following this morning involves our latest pull on the

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Speaker 1: presidential race, and the contest between Donald Trump and Kamala

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Speaker 1: Harris can't be much tighter. Bloomberg Samy Morris has the

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Speaker 1: latest Bloomberg News Morning Console poll in Washington.

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Speaker 4: Donald Trump and Kamala Harris are now in a statistical

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Speaker 4: tie among likely voters in each of the seven swing states.

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Speaker 4: Each candidate now has forty nine percent support among likely voters,

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Speaker 4: with a margin of error of one percentage point. So

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Speaker 4: to move the needle, Trump's campaign as aiming to mobilize

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Speaker 4: voters who haven't typically turned out. Harris has recently looked

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Speaker 4: to fire up women and pick off moderate Republicans who

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Speaker 4: aren't Trump devotees. Trump has an advantage on the economy.

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Speaker 4: Thirty six percent of likely voters called the economy the

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Speaker 4: single most important issue determining their vote, and Harris scores

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Speaker 4: higher on mental fitness, honesty, and compassion. In Washington, Amy

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Speaker 4: Morris Bloomberg Radio.

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Speaker 2: Amy, Thanks, And last night in the swing state of Pennsylvania,

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Speaker 2: Kamala Harris spoke to undecided voters at a CNN Trump

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Speaker 2: a town hall. She attacked Donald Trump, warning he's increasingly

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Speaker 2: unfit for office and criticized his past praise for dictators

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Speaker 2: and on the heels of a report in which Trump's

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Speaker 2: former chief of staff John Kelly said Trump can be

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Speaker 2: generally defined as a fascist, CNN's Anderson Cooper directly posed

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Speaker 2: the question to Harris whether she thinks Donald Trump is

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Speaker 2: a fascist.

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Speaker 5: Yes, I do, and I also believe that the people

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Speaker 5: who know him best on this subject should be trusted.

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Speaker 2: It marked the first time Harris used the word fascist

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Speaker 2: to discre Donald Trump. She also took questions from the

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Speaker 2: CNN audience, framing her campaign as one of compromise.

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Speaker 5: Whether it be what we need to do to actually

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Speaker 5: invest in a substantial way in the industries of the future,

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Speaker 5: in American based manufacturing, in American based industries where American

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Speaker 5: workers and union workers have those jobs in a way

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Speaker 5: that is good paying jobs, that gives people the dignity

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Speaker 5: they deserve.

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Speaker 4: All of those areas.

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Speaker 5: I plan on working across the isle and with Congress,

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Speaker 5: including the issue of immigration, which we've got to fix.

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Speaker 2: Vice President Harrison Zovene that she'd serve as a president

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Speaker 2: for all Americans. Trump responded to Harris on social media,

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Speaker 2: saying she has a warped mind and sees that she

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Speaker 2: is losing.

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Speaker 1: Meanwhile, John the former president, was in the battleground state

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Speaker 1: of Georgia, holding a faith based town hall in the

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Speaker 1: afternoon and a rally in the evening. He reminded residents

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Speaker 1: that Georgia offers early voting, which e a way you

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Speaker 1: want to do.

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Speaker 6: I've been one that says, which have a way out

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Speaker 6: and vote, be a little careful, make sure your vote

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Speaker 6: gets counted.

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Speaker 1: There are ways of doing that too. And the Republican

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Speaker 1: presidential nominee also criticized FEMA for its response to Hurricane Helene,

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Speaker 1: saying FEMA and the White House did not do their

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Speaker 1: job and quote, We've got to change it. Trump heads

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Speaker 1: west to Arizona and Nevada later today.

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Speaker 2: And Turning to the markets, Karen Nasdaq Future is getting

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Speaker 2: a big lift this morning following earnings from Tesla. Those

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Speaker 2: shares are up eleven percent pre market after the electric

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Speaker 2: vehicle hosted its best quarterly results in more than a year.

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Speaker 2: Tesla's cyber truck sales turned to profit for the first time.

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Speaker 2: On the earnings call, the CEO of Leon, Elon Musk,

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Speaker 2: promised to make Tesla the most valuable company of the

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Speaker 2: world starting with its vehicle sales targets.

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Speaker 7: I do want to give some some rough estimate, which

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Speaker 7: I think twenty to thirty percent vehicle growth next year,

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Speaker 7: you know, notwithstanding negative accenl.

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Speaker 2: Events, Tesla CEO Elon Munska in the company conference calls.

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Speaker 2: Tesla's market value has soared by eighty billion dollars this morning.

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Speaker 1: Well on the flip side, John shares of IBM they're lower,

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Speaker 1: down four and a third percent this morning. The company

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Speaker 1: reported underwhelming sales as it grapples with a slowdown in

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Speaker 1: consulting demand. Expectations were high for IBM heading into earnings.

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Speaker 1: The company star climbed to an all time record earlier

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Speaker 1: this month on the back of enthusiasm about Big Blues

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Speaker 1: software unit and.

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Speaker 2: In Europe Karents Shares of Barclays trading at a nine

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Speaker 2: year high following the bank's latest earnings report. Let's go

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Speaker 2: to London now and get the latest with Bloomberg's HWN

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Speaker 2: parts you and good morning.

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Speaker 8: John and Karen. It's a beat from London based Barclays

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Speaker 8: on revenue and profits in the third quarter, better than

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Speaker 8: expected income from the bank's two biggest divisions fueling a

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Speaker 8: five percent increase in total revenues. Barclay's finally delivering on

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Speaker 8: its promise to boost its flagging returns. Things not So

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Speaker 8: Gucci over at carrying the French luxury group warning and

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Speaker 8: your profit will fall to its lowest level since twenty sixteen.

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Speaker 8: The continuing slump in Chinese demand for luxury hampering a

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Speaker 8: turnaround of the group's biggest label, Gucci, But the turnaround

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Speaker 8: story going better for consumer goods giant Unileva. It shares

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Speaker 8: hire today after reporting sales volumes up for a fourth

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Speaker 8: consecutive quarter in London. I'm une pots Bloomberg Radio, all right.

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Speaker 1: You and thank you. But we're also following shares at

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Speaker 1: McDonald's this morning. They're seeing a bit of a rebound

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Speaker 1: up about seven tenths of a percent this morning. Yesterday,

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Speaker 1: the stock dropped five percent. McDonald's supplier Taylor Farms is

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Speaker 1: recalling some yellow onion batches produced in a Colorado facility

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Speaker 1: in response to the deadly E. Coli outbreak at the

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Speaker 1: burger chain. McDonald's hasn't yet confirmed the source of the

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Speaker 1: outbreak and has that has led to dozens of illnesses

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Speaker 1: and one death and ten hospitalizations across ten states. It

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Speaker 1: says that slivered raw onions that go into its quarter

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Speaker 1: pounder burger are the likely culprit of the contamination, though

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Speaker 1: it has not ruled out beef as a potential source.

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Speaker 2: And Elliott's investment management at the Southwest Lines are nearing

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Speaker 2: a settlement that would avoid a proxy fight for control

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Speaker 2: of the carrier's board. Bloomberg News has learned that Elliott

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Speaker 2: and Southwest are discussing a framework that would result in

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Speaker 2: the shareholder activists receiving several board seats but less than

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Speaker 2: a majority.

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Speaker 1: And John the Wall Street Journal is reporting that Currig

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Speaker 1: Doctor Pepper has struck a deal to acquire energy drink

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Speaker 1: maker Ghost. The price tag more than one billion dollars.

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Speaker 1: Time now for look at some of the other stories

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Speaker 1: making news in New York and around the world. For that,

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Speaker 1: we're joined by Bloomberg's Mugel bar Michael. Good Morning, Good.

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Speaker 9: Morning, Karen. Authority stopped a thread against the lection security

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Speaker 9: In Arizona, a man has been charged with terrorism for

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Speaker 9: allegedly hanging white bags of powder from political signs and

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Speaker 9: three shootings. Tempe Police Chief Ken McCoy are.

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Speaker 10: Tempe police officers arrested sixty year old Jeffrey Michael Kelly

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Speaker 10: in connection with three incidents of shooting at the Democratic

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Speaker 10: National Committee offices here in Tempe.

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Speaker 9: Police say the suspect had more than two hundred guns.

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Speaker 9: The Gaza Civil Defense says it's a catastrophic situation in

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Speaker 9: northern Gaza, saying in a statement that citizens are now

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Speaker 9: without humanitarian services. There continues to be heavy casualties from

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Speaker 9: a tax carried out by the Israeli Defense Force. US

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Speaker 9: Secretary of St Anthony Blincoln is traveling through the Middle

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Speaker 9: East this week pushing for a peace deal, but it

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Speaker 9: looks like there's a little hope for a ceasefire. Meanwhile,

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Speaker 9: France pledged to provide a one hundred eight million dollar

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Speaker 9: package to support Lebanon at an international conference. Today, President

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Speaker 9: Emmanuel mccran said massive aid is needed to support the country,

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Speaker 9: where war between a Hesbelah militants and Israel has displaced

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Speaker 9: a million people, killed over twenty five hundred and deepened

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Speaker 9: an economic crisis. The CDC is now recommending a second

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Speaker 9: dose of the latest COVID nineteen vaccine for people sixty

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Speaker 9: five years and older. Doctor Seline Gounder is the editor

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Speaker 9: at large for Public Health at the Kaiser Family Foundation.

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Speaker 11: Vast majority of COVID deaths we see today are among

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Speaker 11: older people, so it's quite reasonable to be boosting older

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Speaker 11: people at least twice a year, or even three to

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Speaker 11: four times a year, since the boost only lasts them

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Speaker 11: about three months, especially older people living in nursing homes.

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Speaker 9: Doctor Gounder spoke to CBS. Automatic emergency braking systems on

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Speaker 9: new vehicles are fifty percent better at reducing crashes at

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Speaker 9: up to thirty five miles per hour compared to vehicles

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Speaker 9: as old as the twenty seventeen models. That's according to

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Speaker 9: new research from Triple A. Research has found that such

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Speaker 9: safety systems in twenty twenty four cars and trucks avoided

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Speaker 9: one hundred percent of forward collisions Greg Brannan is Triple

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Speaker 9: A's director of Automotive Engineering Research.

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Speaker 12: It was quite a big contrasts with all of the

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Speaker 12: current model year vehicles avoiding a collision entire up to

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Speaker 12: thirty five miles an.

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Speaker 9: Hour the Triple as Greg Brannan says, though, on the downside,

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Speaker 9: current automatic emergency breaking systems and vehicles are not at

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Speaker 9: all effective. In the night, global news twenty four hours

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Speaker 9: a day and whenever you want it with Bloomberg News. Now,

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Speaker 9: I'm Michael Barr. This is Bloomberg Care.

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Speaker 1: All right, Michael Barr, thank you. It is time now

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Speaker 1: for the Bloomberg Sports Update, brought to you by tri

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Speaker 1: State out He Here is John stash Hour, John, good morning,

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Speaker 1: Good morning Care.

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Speaker 13: And the Yankees just blew out to LA. They'll work

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Speaker 13: out today at Dodger Stadium, start the World Series there

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Speaker 13: tomorrow with Aaron Boone very confidently starting his ace.

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Speaker 9: Garrett Cole.

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Speaker 14: He's had those moments of truth in tough moments that

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Speaker 14: he's been so good at answering throughout his time with us,

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Speaker 14: and he's proven himself to be a big game pitcher.

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Speaker 14: And we're obviously, you know, blessed to be able to

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Speaker 14: give him the ball to get this thing started.

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Speaker 13: Dodger manager Dave Roberts may not have the same confidence

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Speaker 13: in Jack Flaherty. He's made three postseason starts and two

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Speaker 13: went poorly, but he did throw seven shutout innings in

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Speaker 13: the Game one against the Mets. He'll be backed up

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Speaker 13: by a very strong Dodger bullpen, helped by a Dodger

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Speaker 13: offense that scored thirty seven runs. And it's four NLCS victories.

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Speaker 13: The Jets have lost four in a row, but their

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Speaker 13: favorite Sunday at New England the Patriots to drop their

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Speaker 13: last six. The son Raddick will play just ended as

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Speaker 13: long hold out. It'll be the second game for DeVante

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Speaker 13: Adams just revealed it in the jets losing locker room

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Speaker 13: last Sunday in Pittsburgh. Adams criticized his brand new teammates

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Speaker 13: for not having enthusiasm on the sideline.

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Speaker 12: If we don't have time and I gotta do whatever

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Speaker 12: I gotta do to help to stay move forward, and

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Speaker 12: lack of energy. I mean that's a prerequisite to be

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Speaker 12: able to go out there and have a good year

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Speaker 12: or have a good player, you know, whatever it is.

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Speaker 12: So in my mind it was something that I wouldn't

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Speaker 12: have been able to sleep if I didn't speak.

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Speaker 9: Up on it.

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Speaker 13: Another veteran wide out about to get traded. Deal in

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Speaker 13: the works for DeAndre Hopkins to go from one in

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Speaker 13: five Tennessee to six and o. Kansas City Chiefs have

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Speaker 13: three injured receivers. Jamis Winstead taken over as the starting

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Speaker 13: QB in Cleveland for the injury to Shawn Watson. Carolina

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Speaker 13: going back to Bryce Young. Andy Dalton broke his thumb

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Speaker 13: in a car accident season opener for the NATS one

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Speaker 13: twenty to one sixteen loss in Atlanta. Tree Young score

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Speaker 13: thirty for the Hawks. Cam Thomas led Brooklyn with thirty six.

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Speaker 13: John Stashedware Bloomberg Sports Karen John all.

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Speaker 1: Right, John, thank you, and the sports update is brought

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Speaker 1: to you by Audi. Visit your tri state Audie dealer

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Speaker 1: today and get behind the wheel of the Audi model

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Speaker 1: you've always wanted.

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Speaker 9: Coast to coast on Bloomberg Radio, nationwide on Sirius XM,

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Speaker 9: and around the world on Bloomberg dot Com and the

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Speaker 9: Bloomberg Business app. This is Bloomberg Daybreak.

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Speaker 2: It's now five for thirteen of Wall Street. The presidential

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Speaker 2: contest between Donald Trump and Kamala Harris could hardly be tighter.

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Speaker 2: The results of a new Bloomberg News Morning console pollar

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Speaker 2: out and to walk us through it, we're joined down

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Speaker 2: by Bloomberg's Kevin Whitelaw. Kevin, good morning, thanks for being

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Speaker 2: with us. We looked at the swing states, the likely

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Speaker 2: estates that will determine the winner. Doesn't get much closer,

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Speaker 2: does it.

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Speaker 6: No, it really doesn't. I mean every poll we've seen

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Speaker 6: it just feels the closer and closer it gets, no

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Speaker 6: matter no matter how you look at it. So you know,

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Speaker 6: I think you know, I can promise you that over

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Speaker 6: the next two weeks. The phrase you are going to

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Speaker 6: hear over and over and over from anyone looking at

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Speaker 6: these results is it's all going to come down to

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Speaker 6: turn out. And that's just clear ultimately what is going

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Speaker 6: on here. This is settled into the exact kind of

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Speaker 6: election everyone had always thought it would be, which is

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Speaker 6: a fifty to fifty election in the states where that

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Speaker 6: are going to end up deciding it. And there's sort

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Speaker 6: of no way around those dynamics. And so it's going

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Speaker 6: to very much come down to the voter enthusiasm and

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Speaker 6: the ability of either candidate to turn out their supporters

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Speaker 6: on election day.

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Speaker 2: As for the issue that may decide the race, I'm

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Speaker 2: reminded of a phrase from an election some years ago.

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Speaker 2: It's the economy stoopid. How do the candidates fare when

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Speaker 2: it comes to the economy in voters' minds?

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Speaker 6: Yeah, I mean, I think this was always a place

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Speaker 6: that was the biggest vulnerability for Democrats, given you know,

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Speaker 6: when when people are feel you know, watching, you know,

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Speaker 6: feeling inflation pinch, you know, it's the party in power

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Speaker 6: that's that's going to get punished. You are seeing Kamala

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Speaker 6: Harris close the gap a little bit at least.

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Speaker 1: Uh.

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Speaker 6: These pole results are are suggesting that, so she's gaining

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Speaker 6: some ground and interesting that you're also seeing some people

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Speaker 6: sort of get slightly less pessive pessimistic about where the

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Speaker 6: economy is and what inflation is doing. But you know,

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Speaker 6: too much of this is simply baked in, and you've

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Speaker 6: got a lot of people in the swing states who

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Speaker 6: are looking at the price of groceries, the price of restaurants,

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Speaker 6: these prices they're encountering in their you know, every day

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Speaker 6: in their regular lives, and that's still just difficult with

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Speaker 6: wages not keeping up and so you know, when it

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Speaker 6: comes to who's going to steward the economy better, you know,

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Speaker 6: Trump's do the slight edge, it's just smaller than it

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Speaker 6: used to be in Kama. Harris has made a lot

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Speaker 6: of inroads on that, and more importantly, she's also made

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Speaker 6: some inroads on sort of the trust question in a

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Speaker 6: number of other key areas. And so I think you're

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Speaker 6: going to see you're seeing the enthusiasm among female voters

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Speaker 6: in particular for her is very high, and that could

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Speaker 6: be a bit of an X factor that could perhaps

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Speaker 6: not be fully reflected in these results for Trump. It's

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Speaker 6: actually almost the slight opposite issue where you have a

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Speaker 6: lot of enthusiasm, But these are often among voting groups,

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Speaker 6: particularly young men who historically don't vote it terribly high rates.

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Speaker 2: And let's focus on Pennsylvania. If we could, with what

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Speaker 2: the nineteen delegates at stake there, what were the specific results.

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Speaker 6: Yeah, I mean, I think, you know, like all these

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Speaker 6: it is so close that that you almost can't look

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Speaker 6: at any one poll, even ours, as good as ours

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Speaker 6: of course is, and say what it means. But it

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Speaker 6: is showing that Harris has a bit of a lead

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Speaker 6: in Pennsylvania. She's sort of leading by about you know,

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Speaker 6: one point seven percentage points. But then if you look

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Speaker 6: at the overall sort of five thirty eight polling average,

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Speaker 6: which is sort of the you know, looking at the

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Speaker 6: broadest collection of polls across you know, from from across

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Speaker 6: all these different polling organizations, you know, Trump's the one

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Speaker 6: who has a very very slight edge there. So you're

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Speaker 6: seeing the tightening across all of this, and at some point,

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Speaker 6: I think, you know, we're we are getting to the

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Speaker 6: place where the polling can only tell us so much

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Speaker 6: because it can't ultimately predict who's going to show up,

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Speaker 6: who's going to vote. But the early voting numbers are showing,

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Speaker 6: you know, even higher numbers than we saw in the

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Speaker 6: last election cycle. So there's clearly that effort that both

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Speaker 6: parties are spending, the huge amounts of money they're spending

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Speaker 6: to try to you know, get voters out there is

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Speaker 6: having an impact already.

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Speaker 2: Can we divine from that early voting that turnout is

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Speaker 2: going to be better than ex or higher than expected.

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Speaker 6: I mean, it's hard to tell because you know, obviously,

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Speaker 6: if you're voting early, it mention not voting on election day,

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Speaker 6: but it has in the past showed that there has

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Speaker 6: been a higher level of you know, in the past

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Speaker 6: early higher early voting has translated into higher overall turnout.

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Speaker 6: There's obviously twenty twenty was a high turnout election. I

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Speaker 6: would I don't know if this one can be bigger

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Speaker 6: or not. But given the amount of money that's been spent,

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Speaker 6: the huge, huge sums, the huge amount of emotions surrounding

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Speaker 6: the race on both sides, I do think people are

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Speaker 6: expecting it to be to be quite a turnout.

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Speaker 2: Kevin, real quick, how are these polling results likely to

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Speaker 2: shape the campaign in the final days?

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Speaker 6: Yeah, I mean I think that for Kamala Harris, you

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Speaker 6: can see that she's going to be spending her time

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Speaker 6: really in those blue wall states Michigan and Pennsylvania and Wisconsin.

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Speaker 6: That's where she's really going to be focusing most of

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Speaker 6: her efforts. She knows that that's ultimately the best easiest

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Speaker 6: path she has, and so she's going to be trying

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Speaker 6: to make sure that those voters get to see her

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Speaker 6: and that she gets to make her closing case there.

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Speaker 6: Trump has really been a little more focused on sort

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Speaker 6: of the bigger, splashier stuff and things that aren't really

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Speaker 6: necessarily even targeted at swing states. You know, he's got

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Speaker 6: his Madison Square Garden appearance coming up in New York City.

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Speaker 6: You know, I think that's that sort of shows he's

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Speaker 6: he's always been on a somewhat different track. The dynamics

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Speaker 6: for him have always sort of worked out different than

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Speaker 6: just about any other candidate. But you know, I think

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Speaker 6: ultimately both of them need to are going about their

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Speaker 6: own way and trying to figure out how do you motivate,

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Speaker 6: how do you excite, how do you and finally convince

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Speaker 6: what have to be like the four remaining undecided voters

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Speaker 6: in the entire country of the United States.

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Speaker 2: Birks Kevin Whitelaw, Kevin, thanks very much for being with

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Speaker 2: us this morning, Karen, all.

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Speaker 1: Right, John, Well, we are watching too this morning. Of course,

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Speaker 1: those shares are of eleven percent in early trading. Assesster

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Speaker 1: It delivered some of blowout results and that's helping futures

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Speaker 1: this morning as well. S and P futures up half

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Speaker 1: percent or twenty six points down. Futures are a little changed.

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Speaker 1: NASDAK futures up a tensive percent or one hundred and

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Speaker 1: fifty eight points. A ten year treasury up twelve thirty seconds.

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Speaker 1: You have four point one nine percent held on the

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Speaker 1: two year, four point oh four percent nine Excreued oil

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Speaker 1: is up one point nine percent of a dollar thirty

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Speaker 1: two at seventy two dollars nine cents of barrel Well

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Speaker 1: Comics gold is up a tensive percent of twenty one

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Speaker 1: dollars thirty cents at twenty seven fifty seventy one ounce.

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Speaker 1: And that's a Bloomberg Business Flash, John.

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Speaker 2: Bloomberg's Karen Moscow. Karen, thanks very much. Another major story

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Speaker 2: we're following this morning, the blowout quarter from Tesla. Those

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Speaker 2: shares up eleven percent pre market. It's giving a boost

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Speaker 2: to the tech sector overall. And let's get more analos

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Speaker 2: this this morning. Bring in our next guest, Dan Ives,

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Speaker 2: the senior tech analyst at web Bush Securities. Dan thanks

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Speaker 2: very much for being with us this morning. Give us

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Speaker 2: the highlights as far as you can see them of

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Speaker 2: the quarter and the look ahead.

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Speaker 15: Yeah, and this is a blowout quarter for Tesla, specifically margins.

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Speaker 15: They've had all these price cuts the last year that stopped,

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Speaker 15: so now Margins two hundred basis points above the street.

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Speaker 15: But the big thing they gave huge guidance for next

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Speaker 15: year twenty and thirty percent delivery growth. This was an

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Speaker 15: Aaron Judge like quarter for Tesla.

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Speaker 2: Uh, who is buying the cyber truck, Dan, I can't

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Speaker 2: tell how many they sold from this report.

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Speaker 15: Look, in terms of the cyber truck, I mean that

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Speaker 15: continues to be you know, I think, a strong product,

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Speaker 15: but small today. I mean, if you look at it,

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Speaker 15: it's a high end buyer. But really for Tesla, it's

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Speaker 15: now expanding the actual roadmap beyond the cyber truck. We

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Speaker 15: believe a sub thirty thousand dollars vehicle comes out next year.

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Speaker 15: That's going to be the key.

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Speaker 2: What are the prospects for some of the other businesses,

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Speaker 2: specifically energy storage? Can you tell us more about that.

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Speaker 15: Look, Energy was actually a very strong quarter and it's

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Speaker 15: faction been a very strong year. Tesla now is starting

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Speaker 15: to really become the one stop shop. And when you

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Speaker 15: think about superchargers, you think about what's happening on electric vehicles.

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Speaker 15: Clearly we've had softer electric vehicle growth over the last year,

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Speaker 15: but now you look at the energy business, you look

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Speaker 15: at the storage business, and I ultimately believe the key

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Speaker 15: growth for Tesla over the coming years is autonomous and AI.

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Speaker 15: But when you look at this quarter, a huge rebound,

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Speaker 15: huge step in the right direction. The bulls will feel

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Speaker 15: good today. I think this is an inflection point quarter

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Speaker 15: for Tesla.

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Speaker 9: Yeah, you look.

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Speaker 2: To the ROBOTAXI was that a flop for Tesla? What's

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Speaker 2: happening on that front?

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Speaker 15: Look, I disagree with someone that was there, and I've

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Speaker 15: been to these events, you know, for tech twenty five years.

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Speaker 15: I thought it was one probably the top three four

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Speaker 15: events I've been to. Did it lack details, yes, But

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Speaker 15: in terms of the future autonomous robotics optimist, Tesla more

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Speaker 15: and more is going to be more of an AI

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Speaker 15: disruptive leader rather than just evs. But again, investors, the

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Speaker 15: knee jerk reaction disappointed. I think in years from now

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Speaker 15: this is going to be a historical event.

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Speaker 2: We also had promises of more affordable vehicle. Is that happening.

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Speaker 15: I think about a year from now we have a

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Speaker 15: sub thirty thousand dollars vehicle and that is going to

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Speaker 15: really be music to the ears of the bulls because

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Speaker 15: they're able to produce cars cheaper than anyone else out there.

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Speaker 15: It costs roughly twenty thousand dollars for them to produce

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Speaker 15: a Tessa. You go back to three years ago, it

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Speaker 15: was thirty five forty thousand. That's the key from Musk

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Speaker 15: and Tesla going forward.

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Speaker 2: China is, if I'm not mistaken, one of the if

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Speaker 2: not the biggest market for Tesla. What's the competition there

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Speaker 2: and what does the landscape look like for Tesla in China?

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Speaker 15: Yeah, about forty percent of demand. China had a very

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Speaker 15: strong quarter. Look, it's a game of Thrones battle in China.

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00:23:14,400 --> 00:23:18,720
Speaker 15: You got bid, you got neo domestic competition across the board,

440
00:23:19,680 --> 00:23:23,000
Speaker 15: but you now are starting to Sea has to gain

441
00:23:23,119 --> 00:23:26,280
Speaker 15: more and more share in China. That's a key market.

442
00:23:26,280 --> 00:23:29,120
Speaker 15: It's the hearts and lungs of the story. But we're

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00:23:29,119 --> 00:23:32,520
Speaker 15: seeing positives there and that is important for the long

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00:23:32,600 --> 00:23:35,520
Speaker 15: term ago to testin, which is why I believe we're

445
00:23:35,560 --> 00:23:38,520
Speaker 15: looking in a trillion, trillion and a half hour markap

446
00:23:39,000 --> 00:23:40,560
Speaker 15: over the next year, year and a half.

447
00:23:41,320 --> 00:23:43,760
Speaker 2: In the earnest result, there was a spike in the

448
00:23:44,000 --> 00:23:48,600
Speaker 2: regulatory tax credits. Is that a reliable recurring source of

449
00:23:48,680 --> 00:23:50,240
Speaker 2: revenue for Tesla?

450
00:23:50,680 --> 00:23:54,040
Speaker 15: Look it and it's a source of controversy. You know,

451
00:23:54,040 --> 00:23:58,680
Speaker 15: over the years, it's essentially almost a subscription model for them.

452
00:23:58,760 --> 00:24:01,280
Speaker 15: I mean it's going to EBB and flow. I don't

453
00:24:01,320 --> 00:24:04,480
Speaker 15: think investors give it that much credit, but it's not

454
00:24:04,640 --> 00:24:07,440
Speaker 15: going away. And I think it just shows you talk

455
00:24:07,440 --> 00:24:11,400
Speaker 15: about the ergy of business, about regulatory it's all parts

456
00:24:11,920 --> 00:24:17,560
Speaker 15: of really what's becoming just a multifaceted Tesla under Musk.

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00:24:18,400 --> 00:24:20,480
Speaker 2: What did you take away from elon Musk and the

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00:24:20,520 --> 00:24:24,720
Speaker 2: conference call, specifically as it relates to a possibility taking

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00:24:24,920 --> 00:24:26,960
Speaker 2: a role in a Trump administration.

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00:24:28,320 --> 00:24:30,040
Speaker 15: Yeah, I mean, look, in terms of the business it

461
00:24:30,119 --> 00:24:32,840
Speaker 15: was probably the most bullish earnings call we've had some

462
00:24:33,040 --> 00:24:35,879
Speaker 15: Tesla in the last few years in terms of what

463
00:24:36,280 --> 00:24:39,040
Speaker 15: it's get the popcorn now, right, because the next few weeks,

464
00:24:39,080 --> 00:24:43,040
Speaker 15: I mean, if Trump does win, Musk will have a

465
00:24:43,200 --> 00:24:48,120
Speaker 15: major role in that administration, adding to you know, everything

466
00:24:48,119 --> 00:24:51,640
Speaker 15: else he does in SpaceX, Tesla and others, and look

467
00:24:51,680 --> 00:24:53,920
Speaker 15: gets a double edged sword, right in terms of him

468
00:24:53,960 --> 00:24:57,680
Speaker 15: getting into politics. I think now that needs to see

469
00:24:57,680 --> 00:25:00,119
Speaker 15: how this all plays out. Given it to Musk, you

470
00:25:00,160 --> 00:25:03,199
Speaker 15: never know it's coming in next twenty four hours and Dan, in.

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00:25:03,280 --> 00:25:06,040
Speaker 2: The minute we have left, we're getting most of the

472
00:25:06,040 --> 00:25:08,919
Speaker 2: magnificit and seven reporting earnings next week. Give us your

473
00:25:08,920 --> 00:25:10,119
Speaker 2: outluck if he would.

474
00:25:11,160 --> 00:25:13,440
Speaker 15: I mean, I think get the popcorn out. I mean

475
00:25:13,560 --> 00:25:17,320
Speaker 15: it is going to be a robust earning season for tech.

476
00:25:17,560 --> 00:25:20,840
Speaker 15: I think from because you have an AI revolution being

477
00:25:20,920 --> 00:25:24,640
Speaker 15: led by godfather of AI, Jensen a video. It's something

478
00:25:24,680 --> 00:25:27,080
Speaker 15: we haven't seen in forty years, and now the next

479
00:25:27,080 --> 00:25:30,000
Speaker 15: stage takes over. That's where I think you extrain from Microsoft.

480
00:25:30,720 --> 00:25:33,720
Speaker 15: I believe from Apple. Despite all the noise, it is

481
00:25:33,800 --> 00:25:37,680
Speaker 15: the beginning of now AI coming to consumers at iPhone sixteen.

482
00:25:38,160 --> 00:25:41,000
Speaker 15: This is going to fuel tech higher. It's why we believe.

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00:25:41,040 --> 00:25:45,119
Speaker 15: It's nine pm in this AI party that goes to

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00:25:45,200 --> 00:25:46,000
Speaker 15: four am.

485
00:25:46,359 --> 00:25:49,639
Speaker 2: I'm surprised you didn't do a baseball metaphor Dan anyway.

486
00:25:49,480 --> 00:25:53,600
Speaker 15: Ant look in Aaron, Judge, La Quarter and again yangs

487
00:25:53,600 --> 00:25:54,040
Speaker 15: and five.

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489
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