Join us as we dive into the key takeaways from the latest Tesla Shareholder Meeting! This video provides an in-depth analysis of the most important announcements, business updates, and future plans discussed during the event.
Tesla's CEO, Elon Musk, and the executive team shared their vision for the company's future, including updates on upcoming models, improvements in battery technology, progress on autonomous driving, manufacturing expansion, and more. Whether you're a Tesla shareholder, an electric vehicle enthusiast, or simply interested in the future of sustainable transportation, this video will give you all the insights you need.
Don't forget to like this video, comment with your thoughts on Tesla's latest updates, and subscribe to our channel for more insights into the world of tech and finance. Stay tuned for our next video where we continue to bring you the latest news and analysis!
Tesla's CEO, Elon Musk, and the executive team shared their vision for the company's future, including updates on upcoming models, improvements in battery technology, progress on autonomous driving, manufacturing expansion, and more. Whether you're a Tesla shareholder, an electric vehicle enthusiast, or simply interested in the future of sustainable transportation, this video will give you all the insights you need.
Don't forget to like this video, comment with your thoughts on Tesla's latest updates, and subscribe to our channel for more insights into the world of tech and finance. Stay tuned for our next video where we continue to bring you the latest news and analysis!
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NewsTranscript
00:00 Elon Musk is not leaving Tesla as CEO.
00:04 We're going to cover that and all the other major updates that came out of Tesla shareholder
00:07 day to day.
00:08 I'm Gav Blacksburg from Wolf Financial.
00:10 I'm here with Evan from Stock Market News.
00:12 Let's hop right into it.
00:14 The big story, of course, Elon standing in front of the Cybertruck saying he's not leaving
00:18 Tesla.
00:19 But there were a number of other big stories that came in.
00:22 Stock Market News, take us off the rip here.
00:24 Yeah, that's actually an old picture.
00:26 It isn't from today, but there were three big news events, in my opinion, from Tesla's
00:32 2023 annual shareholder meeting.
00:34 And this was definitely one of them.
00:35 Elon confirming that he will be staying as Tesla CEO.
00:39 There were some reports when he announced he was stepping down as Twitter CEO that he
00:43 might also step down as Tesla CEO.
00:45 And it's very nice to hear him confirming that.
00:48 There was a tweet where he kind of mentioned it might be happening, but it wasn't fully
00:51 clear.
00:52 But here he was talking about he feels like he needs to be in control of all the AI and
00:57 new product development.
00:58 So that's also pretty interesting there.
01:01 Moving over to the other biggest stories from the day, I think the second major one was
01:06 that Tesla is going to start to try a little bit of advertising.
01:10 They're going to see how it goes.
01:11 So there's nothing promising, billions of dollars in advertising, but they're going
01:15 to start.
01:16 I think this is very prompted by Elon Musk owning Twitter and needing advertisers.
01:22 So it's hard for him to sit up there and say, don't advertise at all.
01:25 And when he's also owning a company that needs you to advertise.
01:28 So definitely coming and try that.
01:29 I imagine they're going to do a lot of that advertising on Twitter.
01:32 Do you have any thoughts on this, Scott?
01:34 Yeah, I was gonna say, from one pocket into the other, it's perfect, right?
01:38 Twitter needs some cash inflows.
01:39 Tesla needs some advertising.
01:40 I think it's a little bit of a win-win.
01:42 But in all seriousness, Tesla has to do this.
01:45 You were making some good points today.
01:47 People think of Tesla and they know about Tesla, but they don't know the intricacies.
01:52 They don't understand that a Tesla is cheaper than the average car that's sold in the United
01:55 States.
01:56 They don't know about features that Tesla has been spending tons of hours building,
02:01 just assuming people know about and not really promoting, right?
02:04 Different modes that they have for the car, for autopilot, for self-driving, for a bunch
02:08 of different pieces.
02:09 Like people hear about these things, but it's different to actually see it in action.
02:13 There's a commercial that I believe GM or Ram did where they had the no hands driving
02:17 and they did the clap with clapping on the legs and stuff.
02:20 And it was like, "Oh, they have that."
02:22 And it actually is at the point where they can make a commercial about it.
02:25 And I think it just solidifies things when you see it in advertising.
02:29 So I'm all for it and a fan of it.
02:31 We can hop into that last big announcement that you were about to hit on.
02:34 Yeah, I definitely do agree on everything you were just saying there about the advertising.
02:38 And one more point, the crowd, which was all Tesla investors, was very, very excited when
02:44 he said that one.
02:45 It might've been one of the loudest cheers of the night if you go back and watch that
02:49 video.
02:50 Sorry there.
02:51 So obviously the shareholders want that in some capacity.
02:55 And the way he worded it and the reasoning behind it was something that I definitely
03:01 was able to get behind.
03:02 But the third major announcement from the night, in my opinion, was Elon saying that
03:07 Tesla is currently working on two new products that he thinks people will be very, very excited
03:13 about.
03:14 Both the design of the products and the manufacturing techniques will be head and shoulders above
03:19 anything else that's present in the industry.
03:21 They gave a little bit of a silhouette.
03:23 It looked much more of a car than a truck or an SUV, but it was very, very silhouettey.
03:28 So you didn't really get too much out of it, but people should be excited about it.
03:32 There were some mentions of products, a cyber truck event should be coming later this year.
03:36 They didn't give any more announcements around the date.
03:39 FSD, Elon said again, that he expects it to happen within a year or so.
03:43 We'll talk about that actually on the next slide a little bit.
03:47 But yeah, there was a lot of really big and exciting stuff outside of just what was mentioned
03:52 there, but those were definitely the three largest ones.
03:54 There was also a lot of commentary around AI.
03:57 Elon specifically mentioned that he thinks Tesla will have its chat and GBT moment in
04:03 the next year or so around full self-driving.
04:06 I want to get your thoughts on this, Wolf, but I do want to make a quick note here.
04:10 This is actually from his interview after with David Faber.
04:13 So we kind of mentioned it was just the 2023 annual shareholder meeting, but we're going
04:17 to take it from the entire day because I do think this headline was pretty interesting.
04:21 So a lot to watch out for on FSD.
04:24 I know we've spent a lot of time on Spaces listening to Omar, and obviously he is very
04:28 excited about this, Wolf.
04:29 But are you excited about this at all?
04:31 And what about also any of the new Tesla products coming?
04:34 Yeah, we'll see your thoughts on those.
04:37 I've been waiting for five years for full self-driving, and that's the day where I'm
04:41 going to go out and finally get my Tesla, right?
04:44 When it's underneath $30,000 of cost and it can drive itself, that's going to be awesome.
04:49 So I'm super excited for this to come.
04:51 And I think you make a lot of good points around everything.
04:53 I saw all the speculation around different Tesla products they could be building, the
04:57 Tesla mower, the Tesla helicopter.
04:59 We'll see what they come out with.
05:00 There's going to be a full line of products down the road, but for now, probably another
05:03 car.
05:04 But yeah, some pretty interesting pieces across the board and definitely getting AI into the
05:08 mix with self-driving just feels like a huge leap ready to happen.
05:12 We can talk a little bit about the Model Y as well, which you really, really profusely
05:17 gave praise to, right?
05:19 Yeah.
05:20 So Model Y is their best selling car and it's on track to become the best selling car globally
05:25 in 2023.
05:27 It was the best selling car in Europe of any kind in Q1 and it's been hitting a lot of
05:31 milestones.
05:32 I believe it was also the best selling car period globally in Q1.
05:35 So it's not only on track to do it, it's already started to do that over a quarter.
05:39 This was pretty fascinating for me.
05:41 Elon's comments around PayPal.
05:43 It was funny because for those of you who join us on those Twitter spaces, I actually
05:47 brought up PayPal today as a name that I was kind of interested in.
05:50 Should I be interested in it?
05:52 It's more what I was asking.
05:53 Elon kind of answered my question for me, I guess, saying that PayPal is a half-baked
05:58 version of what it could be.
06:00 He gave this response kind of around Twitter and x.com and what he thinks this could be
06:05 about disrupting the financial sector and the banking industry.
06:09 And there were some interesting comments there that he thinks if there is something to disrupt
06:13 and there is a product that could be made better, he will go in and attack it.
06:17 And it sounds like they do want to do a lot of stuff with payments.
06:21 But he isn't just going to disrupt for the sake of saying I'm a disruptor.
06:24 He can go and do that with SpaceX and Tesla and other stuff.
06:27 He doesn't have to do it with Twitter.
06:28 So I thought that was a pretty interesting comment.
06:30 PayPal didn't move off of it or anything, but it was just kind of ironic given what
06:33 was happening.
06:34 Elon Musk likes to give his macro thoughts as well.
06:38 He said his best guess is the global economy will turn around in around 12 months and that
06:42 Tesla will be in a great position.
06:45 Elon actually said in our own space as well a while ago that in a recessionary area, Tesla
06:50 would prefer to bring margins down, increase the amount of cars that they can get out there
06:56 because they believe that they are the only car that will end up being upgradable to FSD,
07:02 what we've been talking about earlier.
07:03 So everything on this Tesla story kind of links back to AI and FSD and we'll see how
07:08 that goes over the next little bit.
07:10 We're kind of rolling up here.
07:11 We're kind of getting down on the importance scale.
07:14 JB Strobel is still very important.
07:16 This is actually a little circle to the beginning where he was saying he's going to stay at
07:21 Tesla.
07:22 Obviously, we didn't really mention it, but Linda Iaccarino took over as CEO of Twitter
07:26 this week.
07:27 There was a big announcement and now Elon stated that the amount of time he's going
07:31 to put there is very small compared to the last six months.
07:33 He stated that over the last six months, the work to pain ratio was extremely high as he
07:38 basically had to save Twitter from bankruptcy.
07:40 So I thought that that was pretty significant and everybody likes to see him putting his
07:44 attention back onto Tesla full time.
07:47 Certainly I'm expecting, you know, most Tesla meetings are by the room or sell the news.
07:51 I actually really like this one.
07:52 I think this one is one where you could see a bump in the stock tomorrow.
07:57 And I know we had just two other pieces you were covering, JB Strobel.
08:00 I missed the slide, so I appreciate you doing that.
08:02 There was a lot of really interesting stuff from this shareholder meeting and the David
08:07 Faber interview that did follow.
08:08 So if you have three, four hours of your time, I would recommend you to go and do it.
08:12 If you don't, we will be doing more of this type of stuff all the time.
08:15 Give this video a like if you have enjoyed it.
08:17 Make sure you're subscribed to our channel to see much more stuff like this and drop
08:22 a comment down below if there's any companies you want to make sure that we are covering
08:25 all those events.
08:26 But JB Strobel is now officially a Tesla board member.
08:31 This is someone who Elon Musk credits with helping him start the company and he's a very
08:36 popular figure.
08:37 Obviously he left to go and start his own thing.
08:39 And yeah, so it's interesting to see him back as a board member.
08:42 I'm sure that will be liked.
08:44 And then this is the ultimate "I had F you" money.
08:48 This is what I took away from this one is that Elon Musk was asked about his comments
08:52 and his tweets and if they're really necessary and he came out and said, "I'll say what I
08:56 want and if the consequences of that is losing money, so be it."
09:00 So he does not care.
09:01 He will say what he wants and we'll see.
09:04 It will lead to some interesting days on Twitter.
09:06 That is 100% for sure.
09:08 But I think that is a pretty decent breakdown from it overall.
09:11 I did think it was a good annual shareholder meeting.
09:15 I thought it was pretty entertaining.
09:17 I thought it was pretty educational.
09:19 And if you're a Tesla shareholder, I would be excited.
09:21 I don't know if it really changed anything too much, but overall it was a good meeting.
09:27 So I'm excited about it.
09:29 Maybe they got to just start it off for the algorithm, say AI like 50 times and then end
09:33 it with AI 50 times.
09:34 That could be a note for the next annual shareholder meeting or their next event.
09:38 But overall it was a decent event.
09:39 Will, if you have any takeaways or anything you want to add here at the end?
09:43 Yeah, I think we're good to end it here.
09:44 This is the definition of F you money in this quote.
09:47 Shout out to Elon and the team for a great meeting and thank you to everybody that watched.
09:52 We'll see you in the next one.
09:53 [BLANK_AUDIO]