Tesla is heavily investing in the development of its Tesla bot and fully autonomous driving technology, which is seen as a major focus for the company's future growth and innovation
Questions to inspire discussion
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What is Tesla heavily investing in?
—Tesla is heavily investing in the development of its Tesla bot and fully autonomous driving technology, which is seen as a major focus for the company's future growth and innovation.
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What is the current state of Tesla's China sales?
—Tesla's China sales are up, with the highest numbers of the year and significant growth from previous weeks, reaching 17,500 units sold for the week of 17-23 June.
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What is Elon Musk predicting about fully autonomous driving in the US?
—Elon Musk is predicting fully autonomous driving in the US and has relaunched the ability to transfer Full Self-Driving (FSD) to new vehicle purchases.
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What is the controversy surrounding the value of Tesla's Full Self-Driving feature?
—Customers and Elon Musk have different perceptions of the value of Full Self-Driving (FSD) software, leading to a gap in expectations, but Elon Musk is willing to allow FSD transfers to address this concern.
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What is Ron Baron's prediction about Tesla stock?
—Ron Baron, who owns about 30% of Tesla, believes that the underperformance of Tesla shares will be followed by strong growth and appreciation in the stock, emphasizing the importance of long-term growth potential.
Key Insights
Tesla's Business and Innovation Strategy
- 🤖 Tesla is continuing its hiring of employees for its Tesla bot as it ramps up to 1,000 to 2,000 Bots next year.
- 💰 Elon Musk wants to ensure that the value of Tesla's products matches the amount of value being provided to customers, especially in the case of driverless Robo taxi functionality.
- 🚗 Tesla's approach to solving autonomy is being recognized as the correct direction, with intelligence as the differentiating factor in FSD.
- 🧠 The success of Tesla's FSD software in different geographies depends on its level of intelligence and adaptability, rather than relying on crutches for operation.
- 🚗 Tesla is the only company today that has gone camera which is Vision only and end to end which is neural net.
- 🤖 Tesla's plan to produce millions of robotaxis at a cost 10x lower than traditional vehicles could revolutionize urban transportation.
- 🤖 Tesla's development of bots and FSD technology is a major focus for the company's future growth and innovation.
Tesla's Market Performance and Growth Predictions
- 📈 China sales for Tesla saw a significant increase, marking the highest weekly numbers for the year.
- 🚗 Tesla's bullish outlook on fully autonomous driving could lead to a "chat GPT moment" next year, according to observations shared by a source.
- 📉 Ron Baron and his son David Baron believe that Tesla's underperformance will be followed by strong growth, reflecting the strong growth of the underlying business in a stock has appreciated.
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Clips
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00:00 🚗 Tesla's China sales are up, FSD transfers are back, and the company is hiring for its Tesla bot, while Elon Musk responds to Ron Baron's prediction about Tesla stock.
- Tesla's China sales are up, Elon Musk has relaunched the ability to transfer FSD to new vehicle purchases, and the CEO is predicting fully autonomous driving in the US.
- Tesla is hiring employees for its Tesla bot and Elon Musk responds to Ron Baron's prediction about when Tesla stock will rise again.
- Tesla's China sales for the week of 17-23 June were the highest of the year, with 17,500 units sold, showing significant growth from previous weeks.
- Tesla's China sales are up 14% quarter over quarter, reaching the highest numbers of the year and coming close to the highest weeks of last year.
- Tesla's China sales are up, production is at high levels, and the business is showing good strength, while FSD transfers were discussed at the annual shareholder meeting.
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05:09 🚗 Elon Musk may allow transfer of full self-driving capability to new vehicles for a limited time, addressing concerns about the high cost and value of Tesla's FSD feature.
- Elon Musk announced that Tesla will allow the transfer of full self-driving capability to new vehicles for a limited time, without the need for trade-in, and he may be resistant to allowing transfers at any time due to the increasing value of FSD over time.
- Elon Musk wants to ensure that the value of Tesla's products matches the amount of value provided, especially in the case of driverless functionality, to avoid undervaluing the software.
- Customers are concerned about the high cost of Tesla's Full Self-Driving feature in comparison to the value of the vehicle.
- Customers and Elon Musk have different perceptions of the value of Full Self-Driving (FSD) software, leading to a gap in expectations, but Elon Musk is willing to allow FSD transfers to address this concern.
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09:21 🚗 Tesla's FSD is making significant progress, with positive feedback from CEOs, potential for fully autonomous driving by 2025, and a focus on promoting smart driving in China.
- CEOs have been testing Tesla's FSD and giving positive feedback, with Shao Pang CEO testing and praising Tesla's 12.3.3 software.
- Tesla's FSD is showing significant progress and could reach fully autonomous driving by 2025, with positive observations in California and potential for a "chat GPT moment" next year.
- China's roads are more complex than those in the US, and Tesla is looking forward to promoting smart driving in China.
- The speaker discusses the potential partnership between Tesla and a company pursuing a similar approach to autonomy, highlighting the importance of intelligence as the differentiating factor in FSD.
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14:06 🚗 Tesla focuses on vision and intelligence for autonomous driving, with uncertainty in adapting to Chinese driving conditions, while other companies also work on autonomous driving technology.
- Tesla will rely solely on vision and intelligence, not on radar or ultrasonic sensors.
- Tesla's success in adapting their FSD software to Chinese driving conditions depends on its intelligence and scalability, which is still uncertain.
- The efforts of various companies in bringing autonomous driving to the real world safely and in mass should be appreciated and recognized as valuable work that will ultimately save lives.
- Tesla is the only company using vision-only and neural net technology, with Chinese EV companies also moving in that direction and potentially partnering with Tesla.
- Emil Michael, former Uber employee, discusses the cost of autonomous vehicles and the timeline for the arrival of Robo taxis.
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19:39 🚗 Tesla's China sales are up, FSD technology is already in their vehicles, they are working on dedicated robotaxis, and are hiring more employees for project management.
- Driverless cars need to be widely available and affordable, but the cost of the vehicles and the technology involved is currently too high for them to replace human drivers financially.
- Uber CEO has been selling stock, but Tesla's competitive threat is not addressed as Tesla's vehicles are already equipped with all the necessary technology for self-driving.
- Tesla's cost to produce dedicated robotaxis is significantly lower than previous estimates, allowing for mass production and widespread coverage in cities.
- Tesla has a large fleet of unsold vehicles and is hiring more employees for project management.
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24:10 🚀 Tesla is hiring for a project manager to prepare for mass production, improve reliability, and launch a production reaching 200,000 units next year.
- Tesla is hiring for a project manager to lead the creation of symptoms on their service application, indicating that they are preparing for mass production of their products.
- Tesla's service network provides valuable feedback to improve the quality of car parts and maximize value to the customer, unlike traditional auto manufacturers.
- Dealers make more money on repairing less reliable cars, but Tesla, owning their own service and insurance, has an incentive to improve reliability.
- The service technician project manager plays a crucial role in identifying and solving problems with the Optimus robot, and it is important to onboard them early so they understand the design and manufacturing process.
- Tesla is hiring a high-level manager to prepare for the launch of a production that will reach 200,000 units next year.
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29:19 🚀 Ron Baron and Elon Musk believe in Tesla's exceptional long-term growth, emphasizing the importance of staying invested for high returns.
- Ron Baron and his son David Baron, who own about 30% of Tesla, believe that the underperformance of Tesla shares will be followed by strong growth and appreciation in the stock.
- Tesla's long-term growth is expected to be exceptional, according to Elon Musk and Ron Baron.
- The speaker discusses a fund manager on Wall Street who is considered the successor to Peter Lynch in investment philosophy.
- Peter Lynch emphasizes the importance of staying invested in companies for the long term to achieve high returns, and Ron Baron follows this strategy with Tesla, avoiding selling early and missing out on potential gains.
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33:45 🚗 Ron Baron is confident in Tesla's long-term growth potential, FSD and Tesla Bot developments are discussed.
- Ron Baron believes that the performance of the underlying business is more important than the opinion of the stock market, and he is confident in Tesla's long-term growth potential.
- Tesla's FSD and Tesla Bot developments are discussed, along with an invitation to visit the speaker's comprehensive Tesla investor website.
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Duration: 0:35:49
Publication Date: 2024-06-25T20:46:49Z
WatchUrl:https://www.youtube.com/watch?v=4hVKyfKrq1Y
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