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[Klosshufvud]

Tesla tumbles again as investors bail on Elon Musk's suddenly struggling electric vehicle company

Shares of Tesla slid again Monday as confidence in Elon Musk’s electric car company continues to disintegrate following a post-election “Trump bump.”

apnews.com

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Business

Tesla tumbles again as investors bail on Elon Musk’s suddenly struggling electric vehicle company​

Analysts have said Musk’s shift to right-wing politics doesn’t appear to sit well with potential Tesla buyers, generally perceived to be wealthy, environmentally-conscious liberals who have turned to electric vehicles in an attempt to reduce fossil fuel emissions.


Tesla sales are falling in California, the company’s biggest U.S. market, and the company recorded its first annual global sales decline last year. Similarly, Tesla sales plunged 45% in Europe in January, according to research firm Jato Dynamics, even as overall electric vehicle sales rose. The sales numbers were particularly bad in Germany and France.

I think it's actually over for Tesla. Between China gaining a true advantage in EVs and Europeans getting fed up with Musk's psychotic antics, the possible market place for Tesla has shrunk drastically internationally.

 

[I collect VHS tapes]

I live in California, a state absolutely filled to the rim with both liberals and Teslas.

Watching Tesla owners collectively struggle with some sort of existential crisis over their car has been quite interesting to say the least.

 

[jason10mm]

I see a bunch of these stickers round my parts.

In true coastie liberal fashion, an empty statement instead of actual physical action is all they do

 

[I collect VHS tapes]

I see a bunch of these stickers round my parts.

In true coastie liberal fashion, an empty statement instead of actual physical action is all they do

Apparently some are demanding they be made a protected class.

https://www.fastcompany.com/91294535/cybertruck-owners-are-joining-a-facebook-support-group-and-want-to-be-a-protected-class

 

[MaestroMike]

 

[EviLore]

Elon’s acting increasingly erratic and lying about virtually everything he says on Twitter — consequential because it’s not just business announcements now, he’s effectively in charge of the United States government and responsible for things spiraling out of control and reason.

It’s all terrible for business. I don’t want to buy anything the guy makes anymore either.

 

[bitbydeath]

If anyone wishes to stick it to Elon and gift me their Tesla I would take it for the team!

 

[SlimySnake]

God does exist.

He just gave an interview saying he's going to eliminate entitlements like Medicare and Social Security. I cant imagine a billionare saying this with a straight face but he's autistic so he's allowed to get away with being a callous little sociopath. Well, i am allowed to hope Tesla goes under, SpaceX is nationalized, and Starlink loses all its contracts. I dont want psychotic billionares taking away my mom's medicare and social security she paid into for decades while working minimum wage just because this out of touch loser doesnt understand that the payroll tax is paid for by every single person who gets a paycheck in america. I was 16 years old when i got my first job making $5.85 an hour and even i paid the payroll taxes.

 

[ResilientBanana]

I didn't hate Elon before, but now I wish he would fuck right off.

 

[ZehDon]

I'm curious to see what, if any, Government intervention occurs here. Musk is defacto President; will be an interesting test case.

 

[crazepharmacist]

God does exist.

He just gave an interview saying he's going to eliminate entitlements like Medicare and Social Security. I cant imagine a billionare saying this with a straight face but he's autistic so he's allowed to get away with being a callous little sociopath. Well, i am allowed to hope Tesla goes under, SpaceX is nationalized, and Starlink loses all its contracts. I dont want psychotic billionares taking away my mom's medicare and social security she paid into for decades while working minimum wage just because this out of touch loser doesnt understand that the payroll tax is paid for by every single person who gets a paycheck in america. I was 16 years old when i got my first job making $5.85 an hour and even i paid the payroll taxes.

Did he actually say that or was that a clip taken out of context? Because that directly goes against what Trump has said; they are not touching entitlements.

 

[crazepharmacist]

God does exist.

He just gave an interview saying he's going to eliminate entitlements like Medicare and Social Security. I cant imagine a billionare saying this with a straight face but he's autistic so he's allowed to get away with being a callous little sociopath. Well, i am allowed to hope Tesla goes under, SpaceX is nationalized, and Starlink loses all its contracts. I dont want psychotic billionares taking away my mom's medicare and social security she paid into for decades while working minimum wage just because this out of touch loser doesnt understand that the payroll tax is paid for by every single person who gets a paycheck in america. I was 16 years old when i got my first job making $5.85 an hour and even i paid the payroll taxes.

I watched the interview and I read the quote. He said he’s going to eliminate the waste and fraud in social security. Not the program entirely.

There’s going to be a reckoning with social security in the future. It’s projected to run dry by 2035. If we get our act together now and if there truly is as much waste and fraud as he claims, addressing that now may help it stay funded for longer.

 

[bender]

Long overdue as the stock has long been overvalued based on promised features and releases that are always "right around the corner".

 

[Mistake]

Elon’s acting increasingly erratic and lying about virtually everything he says on Twitter —consequential because it’s not just business announcements now, he’s effectively in charge of the United States government and responsible for things spiraling out of control and reason.

It’s all terrible for business. I don’t want to buy anything the guy makes anymore either.

I haven't been following too much, but from what I've seen twitter has become a circle jerk. You know something is going on when everyone agrees on everything.

I've been aware of some of his antics for while, like making teslas a giant pain to fix with long wait times, dangerous work conditions, etc. CEO mindset I suppose. But he has done some good as well, so it's hard to know how it will all play out. Better to give things a few years and count the receipts. Him being on twitter all the time isn't doing him any favors

 

[XXL]

features and releases that are always "right around the corner".

Which features are those?

 

[kevboard]

Elon’s acting increasingly erratic and lying about virtually everything he says on Twitter —consequential because it’s not just business announcements now, he’s effectively in charge of the United States government and responsible for things spiraling out of control and reason.

It’s all terrible for business. I don’t want to buy anything the guy makes anymore either.

But haven't you heard?
BUT YOUR TESLA WILL BE A ROBO TAXI THAT MAKES MONEY ON ITS OWN BY 2018!... or was it 2020?



the fact that it took this long for people to turn their back on Tesla is surprised tbh after nearly ever single promise made during announcements being broken one by one every time he said anything on stage, for like a decade now.

 

[bender]

Which features are those?

FSD

 

[XXL]

FSD

I primarily use FSD for driving, you're not even required to touch the steering wheel anymore.

 

[bender]

I primarily use FSD for driving, you're not even required to touch the steering wheel anymore.

Good luck to you. I do believer it's advertised as "Supervised" which isn't FSD.

 

[XXL]

Good luck to you.

No luck needed.

I just did 12 hours through the US and barely touched the wheel at all. 99% of the driving was done with FSD.

I know people are quite ignorant surrounding this stuff, but FSD is insanely good now and has been for the last year or so. It was decent before, but now it's on another level and we're getting updates every few weeks improving it.

 

[bender]

No luck needed.

I just did 12 hours through the USA and barely touched the wheel at all. 99% of the driving was done with FSD.

I know people are quite ignorant surrounding this stuff, but FSD is insanely good now and has been for the last year or so. It was decent before, but now it's on another level and we're getting updates every few weeks improving it.

It's still supervised which isn't FSD.

 

[XXL]

I do believer it's advertised as "Supervised" which isn't FSD.

It is supervised. You need to keep your eyes on the road or it will disable and revert back to having to touch the wheel.

 

[SlimySnake]

I watched the interview and I read the quote. He said he’s going to eliminate the waste and fraud in social security. Not the program entirely.

There’s going to be a reckoning with social security in the future. It’s projected to run dry by 2035. If we get our act together now and if there truly is as much waste and fraud as he claims, addressing that now may help it stay funded for longer.

He gave an insanely high figure like $700 billion which made me think he was going to kill the whole thing. iirc, the entire medicare budget was $800 billion a few years ago. He keeps talking about these things as entitlements when people have been paying into these programs their entire lives. its no more an entitlement than having car insurance.

he also called a sitting senator, a combat veteran, a traitor for visiting Ukraine. a country we are country allied with. So yeah, fuck this guy. Hope he loses everything. One of the worst human beings ive ever seen. Complete garbage.

 

[bender]

It is supervised. You need to keep your eyes on the road or it will disable and revert back to having to touch the wheel.

Yes, I know. That isn't FSD. Something like a Waymo taxi is. Tesla paired back their ultrasonic sensors in their vehicles and even if they hadn't, that sensor configuration wouldn't be capable of FSD.

 

[XXL]

Yes, I know. That isn't FSD.

It's called FSD (supervised). It's definitely FSD.

Summon also works extremely well now. I summon the vehicle to me all the time with no issues.

Something like a Waymo taxi is.

They are very different approaches.

Tesla paired back their ultrasonic sensors in their vehicles and even if they hadn't, that sensor configuration wouldn't be capable of FSD.

Tesla is training FSD by visual (and that data is being used for the bots). That's why they got rid of the ultrasonic sensors.

FSD is now mimicking the actions of human drivers, it's hard to explain without a huge post, but it's a very different approach than just using maps and sensors.

My main point being, it is improving rapidly. Some of their next models don't even have steering wheels and at this point, it's not hard for me to believe it.

 

[bender]

They are very different approaches.

Yes, one is FSD and one is not thus the need to tack on "supervised" to FSD which is an oxymoron.

No steering wheels sounds like just as good of an idea as having no interior door handles.

 

[segasonic]

I think the stock crashing is deserved for being overvalued.

But FSD does look quite promising. Waymo and others are based on LiDAR which does not scale. (Cars interfering with each other). It is the right way to go vision / AI only.

Check this out:

 

[Trilobit]

I live in California, a state absolutely filled to the rim with both liberals and Teslas.

Watching Tesla owners collectively struggle with some sort of existential crisis over their car has been quite interesting to say the least.

You should put on the most outrageous MAGA suit and go around telling them how much you love their cars.

 

[Sony]

I watched the interview and I read the quote. He said he’s going to eliminate the waste and fraud in social security. Not the program entirely.

There’s going to be a reckoning with social security in the future. It’s projected to run dry by 2035. If we get our act together now and if there truly is as much waste and fraud as he claims, addressing that now may help it stay funded for longer.

Social security running dry in '35 has nothing to do with waste or fraud in the system, and everything to do with the increasing wealth disparity. Raising the cap for higher incomes completely solves this.

 

[Dr.D00p]

Couldn't happen to a nicer fat, nazi cunt.

 

[ThisIsMyDog]

 

[Rentahamster]

I don't know much about EVs or space rockets, so I was fairly neutral towards Elon in that respect, but I do know about vidya games, and when he tried to fake his video game accomplishments in the most obvious way possible, that did a lot of damage to his credibility.

 

[LimanimaPT]

I see a bunch of these stickers round my parts.

In true coastie liberal fashion, an empty statement instead of actual physical action is all they do

And why are you assuming they are liberals? Maybe they are Reptrumplicans that are sorry for voting for trump.

In before lock.

 

[HoodWinked]

He just gave an interview saying he's going to eliminate entitlements like Medicare and Social Security

you're literally spreading lies. "the waste and fraud in entitlement spending... that's the half trillion, 600, 700 billion a year"

He is specifically talking about the waste and fraud it's why he gives the half trillion figure. When total spend for Medicare and Social Security is ~2.5 Trillion.

 

[Atrus]

I see the strategy of outright insulting the countries the company is selling cars in is paying off.

“Fucking Laminated Face Cunt!” - Bill Burr on Elon

 

[Auto_aim1]

Elon and Trump are like Dumb and Dumber.

 

[Cyberpunkd]

you're literally spreading lies. "the waste and fraud in entitlement spending... that's the half trillion, 600, 700 billion a year"

He is specifically talking about the waste and fraud it's why he gives the half trillion figure. When total spend for Medicare and Social Security is ~2.5 Trillion.

Did any expert with much more experience than Musk in the domain quote a similar figures in the past? Or is he the only one and you are simping for a tech bro because ROCKETS?

 

[Dr.Guru of Peru]

you're literally spreading lies. "the waste and fraud in entitlement spending... that's the half trillion, 600, 700 billion a year"

He is specifically talking about the waste and fraud it's why he gives the half trillion figure. When total spend for Medicare and Social Security is ~2.5 Trillion.

Oh so he only wants to cut 1/3 of it? What a relief.

 

[Aurelius]

Here in The Netherlands it's mostly because a lot of 5 year lease contracts are expiring this year. While it was a good deal to get a Tesla 5 years ago, business drivers can now save a lot more money on taxes if they switch to a cheaper Chinese EV.

 

[Dr.Guru of Peru]

I love how he conflates waste and fraud as the same thing. Not everyone has the same definition of waste. For example, an autistic sociopath might think that spending money to operate on a 75 year old is a waste of money. The 75 year-old might not.

 

[Mr Reasonable]

I see a bunch of these stickers round my parts.

In true coastie liberal fashion, an empty statement instead of actual physical action is all they do

What do you think they should do? Change plans and sell their suddenly massively devalued car and eat the loss, or have a bit of fun with a sticker?

I'd go for the funny sticker and get over it, personally.

 

[Mr Reasonable]

I didn't hate Elon before, but now I wish he would fuck right off.

And that, in a nutshell, is probably how everyone at some point will feel.

Some people have been feeling that way for quite a while, some people haven't got there yet. But, give it time. Elon is a masterclass in destroying brands, most notably his own personal brand.

 

[JimmyRustler]

I love how Elon laughs about this in the latest interview.

You gotta give it to him... He doesn't care. Just like when he told Bob to fuck off when Disney pulled the advertising from X.

 

[Dr.Guru of Peru]

I love how Elon laughs about this in the latest interview.

You gotta give it to him... He doesn't care. Just like when he told Bob to fuck off when Disney pulled the advertising from X.

When you're worth more money than anyone could ever possibly need, who gives a crap if that number goes down by 40%?

 

[Unknown Soldier]

You guys know this is all manufactured consent, right? Except now it's with a side of domestic terrorism

We live in a world where you can do anything as long as you're aligned with the Democrats, up to and including terror attacks on American soil

 

[EviLore]

You guys know this is all manufactured consent, right? Except now it's with a side of domestic terrorism

The vandalism and threats aren't appropriate. But to your point about manufactured consent, all I need to do is look at what Elon himself is saying to not be on board with it and the trajectory things are going generally. It doesn't require any media hypnotism.

 

[JimmyRustler]

When you're worth more money than anyone could ever possibly need, who gives a crap if that number goes down by 40%?

Or maybe he really just doesn't care that much about the money.

 

[crazepharmacist]

Social security running dry in '35 has nothing to do with waste or fraud in the system, and everything to do with the increasing wealth disparity. Raising the cap for higher incomes completely solves this.

So do both. Raise the cap and get rid of the waste or fraud. That’s fine with me.

 

[DrFigs]

Or maybe he really just doesn't care that much about the money.

if i had 400 billion dollars in wealth, i think money would mean very little to me too.

 

[JimmyRustler]

if i had 400 billion dollars in wealth, i think money would mean very little to me too.

Dunno about that... Others with not much less money that him seem to care a lot actually.
Loss aversion is a thing. It doesn't matter how much money you have.