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Tesla investors don't seem to trust Elon Musk...
Tesla investors don't seem to trust Elon Musk like they used to. Is that because of Twitter?
Peter Kafka, Chief Correspondent covering media and technology
Oct 12, 2024, 9:37 AM UTC
Elon Musk says self-driving Tesla cabs — something he's talked about for a long time — are just around the corner.
But investors aren't convinced: After his most recent demo, Tesla shares plummeted.
Telsa investors are used to Musk making promises he struggles to keep. But maybe there's something new happening.
On Thursday evening, Elon Musk — who never likes to do things small when he can go big — showed off his newest would-be products: not just a self-driving robotaxi, but also a self-driving Robovan. And that wasn't all: Musk also promised to eventually deliver Star Wars-style robots that will cost $30,000 apiece.
One day, every person on earth would want to own a Muskbot, he said: "I think this will be the biggest product ever, of any kind."
The next day, Wall Street declared itself thoroughly unimpressed: Investors knocked down Tesla shares by nearly 9%.
There are plenty of reasons for Tesla shareholders to be skeptical about Musk's pitch, as my colleagues have explained. To boil them down to two sentences: Self-driving taxis, at scale, involve an enormous number of technical and regulatory challenges. Musk has a well-established track record of promising Tesla products and features that either arrive well after he first promised, or never at all.
And those Muskbots, at the moment, sure seem more like a special effect than a product.
Snip...
https://archive.ph/xbkJq
https://www.businessinsider.com/elon-musk-tesla-twitter-wall-street-disappointment-self-driving-taxi-2024-10
Peter Kafka, Chief Correspondent covering media and technology
Oct 12, 2024, 9:37 AM UTC
Elon Musk says self-driving Tesla cabs — something he's talked about for a long time — are just around the corner.
But investors aren't convinced: After his most recent demo, Tesla shares plummeted.
Telsa investors are used to Musk making promises he struggles to keep. But maybe there's something new happening.
On Thursday evening, Elon Musk — who never likes to do things small when he can go big — showed off his newest would-be products: not just a self-driving robotaxi, but also a self-driving Robovan. And that wasn't all: Musk also promised to eventually deliver Star Wars-style robots that will cost $30,000 apiece.
One day, every person on earth would want to own a Muskbot, he said: "I think this will be the biggest product ever, of any kind."
The next day, Wall Street declared itself thoroughly unimpressed: Investors knocked down Tesla shares by nearly 9%.
There are plenty of reasons for Tesla shareholders to be skeptical about Musk's pitch, as my colleagues have explained. To boil them down to two sentences: Self-driving taxis, at scale, involve an enormous number of technical and regulatory challenges. Musk has a well-established track record of promising Tesla products and features that either arrive well after he first promised, or never at all.
And those Muskbots, at the moment, sure seem more like a special effect than a product.
Snip...
https://archive.ph/xbkJq
https://www.businessinsider.com/elon-musk-tesla-twitter-wall-street-disappointment-self-driving-taxi-2024-10
6 replies
= new reply since forum marked as read
= new reply since forum marked as read
That got a chuckle.
He's as delusional as DT.
