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00:00As a shareholder, we don't want to see him meddling, wearing cheese things on his head
00:22in Wisconsin.
00:23It's not the right look.
00:24It's not like, you know, we want an adult in the room to run this, right?
00:27It looks like something out of fifth grade and something that's comical.
00:31And I do laugh.
00:32But again, most investors would like to have an adult in a room.
00:35And that's what's missing with Tesla.
00:52Look at this time last year, they delivered 390,000 cars.
00:56This number represents a 13% decrease.
01:00That's a big number, right?
01:01So especially there's more EV competition out there and so forth.
01:04So you know, this is a really tough course.
01:07So again, everybody expected soft numbers, but this is even softer than expected.
01:23I guess we call disastrous numbers.
01:25Look, their brand is starting to deteriorate.
01:28I mean, you don't know the CEO for it.
01:29You don't know the CEO of General Motors.
01:31It should keep it that way.
01:33Shareholders, including myself, like to see him come back and get out of the government.
01:37And he's a fiduciary, by the way, and go back and work for Tesla shareholders.
01:41This year is pivotal.
01:42There's some great things that are happening.
01:44And that gets under the headlines.
01:45I mean, starting in June, Austin, we're going to have the wireless driving, right?
01:49Later this year, robotics.
01:50There's some great things up on the whiteboard, so to speak, of things to come.
01:54Instead, the headlines are this nonstop.
01:57You know, he's yelling at about half of them would be buyers of cars.
02:01And that's not what you want to do.
02:02So maybe over time, but again, you see some areas like in Europe that the numbers are
02:07even softer than here in the US.
02:08So he's got some fixing to do.
02:10And our recommendation would be co-CEO or come back.
02:14Come on, come back to shareholders and get the work done here.
02:55is not the United States.
02:56It's worldwide, particularly in Europe, particularly in Germany, where we saw
03:01Musk enter the politics over there and so forth.
03:03You know, don't meddle with that stuff.
03:05You're just going to lose customers.
03:06But again, if you think we're having a tough time here in the US, Europe is even worse.
03:12Those numbers year over year are more of a disaster than here in the US.
03:25Shareholders want his little love.
03:31Come on, Elon Musk.
03:32You know what to do here.
03:33Show a little love.
03:34Come back home a little bit, you know, come back for a couple of weeks, do a little sabbatical
03:38and get this thing lifted.
03:48Yeah, I'm somewhere between neutral to bullish because it can't get worse than this, right?
03:52We've seen stocks, maybe not the way this happened.
03:54I mean, this is one unforced error after another unforced error.
03:58This is kind of what's been happening.
04:00But again, I do believe in what the visionaries of Tesla, and that is Elon Musk.
04:05I do believe a lot of the products that will be coming out in the next couple of years
04:08are going to be very exciting.
04:10You know, this is not the first rodeo for Tesla.
04:12You know, we've seen 40%, 50% declines in a stock, you know, a number of times, and
04:17they worked their way out of it.
04:17It's not pretty what's happening here.
04:20So I'm anywhere from neutral to bullish.
04:22Too late to be a bearer, I think.
04:23I mean, we've already had a lot of bad news.
04:25And if he could just get back on the horse and ride this thing through, you know, shareholds
04:30would be rewarded.
04:30But again, all this really depends on Musk's, you know, how much he's really going to put
04:35into this effort here versus what he's putting into the government.
04:51I think Musk has to have an endgame to this government.
04:55This is a car company.
04:56It'd be uninvestable.
04:57But because they have intellectual property, this is a technology company, they're collecting
05:02data, right?
05:03You know, the robotics are going to be coming out.
05:05And you have all this good, good, good.
05:07And taxes are going to be driverless, taxes hitting.
05:10So the sum of the parts, all these different units add up more than what the valuation
05:14is.
05:14However, to unlock that valuation, you need a CEO that's competent and that's really
05:20going to be serious about all these great innovations that are on the docket.
05:37I don't think we had such an interesting combination of his character.
05:42He's a genius.
05:45Rockets going off, but yet meddling in the government and also trying to run a car company
05:51with a lot more competition.
05:52So no, I don't think I've ever seen in my career the CEO and the crosshairs of so many
05:58different naysayers.
06:00Again, I think he's going to work his way out of it.
06:02But again, I just have to imagine like other shareholders are very frustrated that the
06:07time being spent is not equal to all the other activities that he has.
06:12And he'll go about it.
06:13He'll say that I can do it all.
06:15But we know there's only 24 hours in a day.
06:17And even though he uses 24 hours a day, probably a lot better than I do, a lot better than
06:20most of your viewers would, it's still 24 hours in a day.
06:24And it just seems like there's not a dedicated effort.
06:37Look, I think they still have a lot of wonderful things in front of them.
06:41Again, they have an AI strategy they haven't shared yet with the public.
06:45I'm sure there's other things on those whiteboards that are really fascinating.
06:48I mean, you think about Elon Musk as the Einstein of our time.
06:52I mean, so all those flaws of his character and socially awkward and everything, he's
06:58still a genius.
06:59So you can't count them out.
07:01The reason why we're in this stock is because some of the parts are great in the whole.
07:05And there's so many more products beyond the car.
07:08As I mentioned, if this was just a car company, we would not be investing in this.
07:12We do believe in their technology.
07:14And there's technology we know, and there's technology we don't know.
07:17And there's a lot of intellectual property around.
07:18And they're getting a lot of patents.
07:20They're going to make a very interesting AI splash.
07:22I'm sure when they're ready to do that.