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Speaker 1: I'm going to say a bunch of things that probably

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I shouldn't say, but but that's what keeps it interesting.

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Have you watched any other annual shareholder meeting? Honestly, it's

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like if you need to go to sleep. Sure, I

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mean that other shareholder meetings are like snoozefest, but ours

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are bangers. Look, this is sick. Yeah, We're got like

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the cyberpunk nightclub here with real robots just standing there

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and milling around and dancing and round out our engineering

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headquarters in palab Alto. The robots just walking around the

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office twenty four to seven with no one minding them.

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They just and then they go charge themselves. And Yeah,

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the scale of Optimists, I like, I said, that's really

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gonna be something else. I think it's gonna be the

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biggest product of all time by far. Yeah, so bigger

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than cell phones, bigger than anything.

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Speaker 2: I guess the way to think about it is that.

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Speaker 1: Every human on earth is gonna want to have their

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own personal R two D two C three field, So

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who wouldn't. But actually, optimists will be even better than

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the like O R two D two would beep at

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you and hard to figure out what is good talking

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about three field to translate, but Optimist is gonna be.

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Speaker 2: Like, everyone's gonna want one.

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Speaker 1: I think in terms of industry providing products and services,

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I think it's probably I don't know, three to five

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robots in industry for everyone that's a personal robot. I

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think there could be tens of billions of Optimist robots

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out there now. Obviously it's very important we pay close

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attention to safety here because we do want the Star

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Wars movie, not.

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Speaker 2: The Gim Cameron movie. I love Jim Cameron's movies.

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Speaker 1: But yeah, yeah, So we're gonna launch on the fastest

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production ramp of any product, of any large complex manufacturer

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product ever and starting with building a million unit production

35
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line in Fremont, and that's Line one, and then a

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ten million unit per year production line here on the

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I don't know where we're gonna put one hundred million

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unit production line, maybe on Mars, I don't know, but

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I think it's gonna literally get to one hundred million

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a year, maybe even a billion a year. And if

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you can get to the five second cycle time. So

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it's a lot of cars. So these will be everywhere

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in the future. Oh, and wanted, We wanted to look futuristic,

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so like it changes the look of the roads.

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Speaker 2: Now. The Yeah, the ingredients.

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Speaker 1: When you look at what Optimists is, what's required to

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make Optimists and the various ingredients. What do you need

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to do to make to do high volume humanoid robot production.

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Speaker 2: I think it's worth considering that.

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Speaker 1: Really the cars we make are already robots, but there

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are four wheeled robots. So Tesla is already the biggest

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robot manufacturer in the world because every car we make

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is a robot.

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Speaker 2: And when you break it down to the fundamental.

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Speaker 1: Elements, you've got batteries, power electronics, motors, gearboxes, you've got connectivity,

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you've got a vision based AI high optimists and all

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the various pieces that you need for a humanoid robot.

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You need the AI chip, you need the AI software,

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you need to build manage a large fleet. And so

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really Optimus is a robot with arms and legs as

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opposed to a robot with wheels. Telsa's ideally suited I

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think to make to succeed in this arena, you will

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see certainly many companies showing demonstration robots. There's really three

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things that are super difficult about robots. One is the

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engineering of the forum in hand, because the human hand

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is an incredible thing. Actually, it's super dexterous engineering the

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hand really well, the real world AI, and then volume manufacturing.

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Those are generally the things that are missing one or

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more of those things missing from other companies. So Telsa

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is the only one that has all three of those.

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Speaker 2: Yeah.

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Speaker 1: Yes, So this is the Optimist kind of initial it's

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kind of a prototype production line.

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Speaker 2: The high volume production line.

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Speaker 1: Will be very automated, obviously, but this is really the

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production line that we use to make the prototypes. So

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you can get a sort of rough sense for what

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it takes to build the robot.

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Speaker 2: You got to pull the finger.

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Speaker 1: And then, as I've said before, I think once we

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reach about a million units per year of sustained production,

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or in excess of that, I think probably the cost

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of production is around twenty thousand dollars in curry your dollars,

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so this will be something very affordable. And yeah, like

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I said, I think Optimists will ultimately increase the size

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of the economy, probably by a factor of ten or

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or next year we start production with Optimist version three.

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This is what you're seeing here is Optimists version two

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point five. Optimist three is an incredibly good design. The

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tales the engineering team is amazing. When you see Optimists three, Yeah,

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it will seem as though that there's someone like a

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person in a robot outfit, which is how we started

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with Optimists.

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Speaker 2: It really is going to be something special.

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Speaker 1: And then Optimist Optimus four that hopefully starts production in

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twenty seven, and then Optimus five and twenty eight, so

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it's like an annual release cycle with significant improvements with

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each one and gigantic increases in the scale of production. Yeah,

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sustainable abundance via AI in robotics, that's the future. Credible

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and as I think most people here know, the safety

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statistics show that miles driven on FSD are much safer

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than miles driven without it. What this will translate to

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ultimately is saving the lives of millions of people and

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preventing hundreds of millions of accidents.

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Speaker 2: So a massive.

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Speaker 1: Increase in lives solved and tragedy is avoided.

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Speaker 2: It's going to be amazing.

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Speaker 1: How many people here have tried fourteen point one? Okay,

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all right, cool, Yeah, you can see the even with

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the point releases, it's getting quite a bit better. Should

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be pretty smooth at this point, but really fourteen point

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two is there are major changes to fourteen point two

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and then fourteen point three, and I think by fourteen

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point three is when we'll really be at the point

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where you can just pretty much pull asleep and wake

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up at your destination. And then I've been putting a

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lot of time into the new Tesla chip design because

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in order to have a functional robot, you have to

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have a great AI chip, and it needs to be

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an inexpensive chip, and it needs to be very power efficient.

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So we believe the AI five chip will be probably

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about a third of the power of say something like

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a Blackwell and a video Blackwell, which is a great

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chip for roughly a comparable performance and much less than

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ten pescent of the cost. So this is a chip

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that is very much optimized for the Tesla AI software stack.

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So it's not meant to be a general purpose chip.

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It's meant to be an amazing chip for the Tesla

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AI software And a couple of things that I think

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make like how E Tailless are able to achieve such

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an improvement. I think it is because because we are specialized,

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we're not trying to Nvidia has to serve the superset

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of all past and future customers, so all of their requirements,

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all of the software that they're written, has to work,

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which is a very difficult problem, whereas we just need

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to make it work for our software, and so we're

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able to simplify the chip dramatically. And then we also think,

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I think we're unique in this, but we have an

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integer based system, and integer operations are fundamentally more efficient

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than floating point operations, so we can do floating point

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but we but the vast majority of our inference is

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done in integer, which is, if you're familiar with sort

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of logic gates like the simplicity of integer, and it's

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integer is much more power eficient and much more silicon efficient.

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But you have to you actually have to train for

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integer inference, which everyone else is training for flooding point.

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It's like a niche technical detail, but it's actually very important.

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Speaker 2: This is going to be a great chip.

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Speaker 1: So this chip will be made in basically in four places, TISMC, Taiwan,

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Samsung Career, TSMC Arizona, and TSOMC Texas.

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Speaker 2: And we already know what improvements to make for AI six.

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Speaker 1: So I'm hopeful that we can within less than the

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year of AI five starting production, we can actually transition

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in the same fab to AI six and double all

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of the performance metrics. I'm super hardcore on chips right now,

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as you may be able to tell chips on the brain,

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I dream about chips literally. I can drow the at

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least the broad rush stroke physical design of the A

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I five chip by well by heart.

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Speaker 2: At this point, it's a good chip. It's good chips, sir,

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So this is really key. Now.

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Speaker 1: One of the things I'm trying to figure out is

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how do we make enough chips. I have a lot

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of respect for our the Tesla partners, TSMC and Samsung. Yeah,

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maybe we'll do something with Intel. We haven't signed any deal,

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but it's probably worth having discussions with Intel. But even

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when we extrapolate the best case scenario for chip production

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from our suppliers, it's still not enough. So I think

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we may have to do a Tesla Terra fab. It's

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like Gigabit way bigger. I can't see any other way

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to get to the volume of chips that that we're

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looking for, So I think we're probably gonna have to

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build a gigantic chip fab Yeah, gotta be done. So anyway,

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some of this stuff I've already talked about. Yep, we've

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done a tremendous amount for sustainable energy and that is

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only going to grow over time. The world is moving

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towards a solar battery economy, which is ultimately the that's

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it's where, that's where it's going to go anyway. But

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what tells us do is accelerate, accelerate that outcome. Sometimes

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people don't understand quite how much energy comes from the Sun.

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So the Sun is ninety nine point eight percent of

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all mass in the solar system being zero point one percent,

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and then zero point one percent is miscellaneous, Earth being

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in the miscellaneous category. So the total amount of energy.

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So some nice people, what say, will build the fusion

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reactors on Earth, it's actually the giant fusion reactor in

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the sky is basically impossible to beat to such agree

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that even if you could burn Jupiter in a thermon

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nuclear reactor, the amount of energy produced by the Sun

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would still round up to one hundred percent. That's how

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much energy the Sun produces. So solar power is necessarily

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the future, and I think there's going to be a

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lot of solar powered AI satellites, and I think Tells

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is going to play a role in that. We've obviously

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refreshed the product line so S three x Y. If

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if people haven't tried the well S three x or

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Y or the Cybertry, I recommend at least getting a

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test drive or a test ride as the case may be,

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try out the full self driving and I think you'll

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be blown away to those who do not. If you

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might be listening and don't have a Tesla, you should

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try one. And of course we've got the cyber Truck,

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which is the toughest truck of all time. It's literally bulletproof,

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faster than a Portion nine eleven and can out toe

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at Ford F three fifty.

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Speaker 2: So it's a great car, great truck.

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Speaker 1: And then starting next year, we manufacture the Tesla Semi.

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So this is already we already have a lot of

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prototype Tesla Semis in operation. PepsiCo and other companies have

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been using the a Tesla Semi for quite some time.

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But we will start volume production at our Northern Nevada

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factory in twenty twenty six. So we've got two big

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products or three three massive products starting production next year,

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we've got optimists, we've got Tesla Semi, and we've got

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the cybercap.

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Speaker 2: And then battery packs. So the if you look at total.

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Speaker 1: US power generation capability, it's roughly a tero WAT, but

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the average power usage is less than half a tarrawatt,

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and that's because there are big differences in power usage

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between day and night. So daily and seasonal variations in

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power consumption mean that the United States and really every

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country is only using about half It is only producing

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about half as much electrical energy as it could because

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without batteries, there's no effective way to buffer the energy.

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So what batteries actually enable is even if you don't

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build any incremental power plants, you could double the energy

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output of the United States just with batteries.

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Speaker 2: This is a super.

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Speaker 1: Big deal, and in fact, I think that's really where

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most of the incremental energy production in the United States

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is going to come from.

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Speaker 2: It's literally batteries, so a.

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Speaker 1: Bigger deal than it may seem. And then we've got

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we keep improving the battery design, so the megablock, which

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makes it really easy to deploy battery utility scale batteries.

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Speaker 2: So we've just simplified and.

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Speaker 1: Brought more of the components to be internal to the batteries,

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so you can just show up and drop off a

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battery and it works, and then hopefully without hopefully over

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time we will actually add more and more of the

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power electronics so that megapac will actually be able to

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output up to thirty five killer volts directly, so you

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won't need to up station.

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Speaker 2: That's what I'm saying. You can just.

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Speaker 1: Literally drop it off, like the way that a power wall.

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You just connect it to the house. The utility wires

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go on one side and the other side goes to

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the house mains and that's it. So we want to

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get megapacked to the point where you just literally take

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the utility wires and you plug them in and it

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just works. Then we've got We've also built the world's

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largest supercharger network, so we do a lot of things

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here at Tesla. That's the biggest supercharger network in the

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world by far, and ultimately you'll be able to go

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anywhere on Earth using a Tesla supercharger. And it's pretty

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close to anywhere on Earth, but it's it's going to

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be ultimately just anywhere.

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Speaker 2: It'll just work anywhere.

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Speaker 1: The supercharger team has done great work expanding that and

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improving the efficiency of the supercharger network, and in North

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America they did such a good job that the other

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car companies basically said that they'll just use the Tesla

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supercharge network.

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Speaker 2: Okay, sounds good to us.

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Speaker 1: It's always important to have it a slant on safety

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in the factory, so we continue to improve safety.

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Speaker 2: For our factory workers.

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Speaker 1: We care a lot about their well being, and like

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one way you can just tell if a company is

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a good company or not if you just walk through the.

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Speaker 2: Factory or walk through the office and.

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Speaker 1: Catch the vibe, and the vibe in the tails of

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factory is good. People are happy, and that's how you

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know it's a good company. We've also put a lot

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of investment into raw materials. We've built in South Texas

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and Corpus Christy the biggest lithium refinery outside of China,

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I believe. So it's going to it's starting off up

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with fifty gig what hours of lithium and we'll expand

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from there. So this is a very important to have

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in a worst case scenario, that we have the ingredients

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necessary to make a battery very important. And then we've

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got here on this site, the Cathode factory, which is

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just the sort of giant building about a half mile

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that way, and we're just making sure that we promised

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supply chain standpoint are resilient against any potential geopltical challenges.

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And then also at this factory we also make the

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forty six eighty cell, which is getting better and better,

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and that forty six eighty cell will be used in

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the cybercab cyber It is being used in the cyber truck,

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and we'll be used in the cybercab and also an optimus.

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So that's going well. But we continue obviously to get

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cells from many suppliers. It's kind of like the chip

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bad thing. Will take as many chips as our suppliers

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can provide us, but then beyond that, if they can

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provide us with any incremental cells or chips we have

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making ourselves or we get stuck. That's the Tesla semi factory.

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It's going to be pretty cool to see these going

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down the road and scale.

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Speaker 2: Yeah.

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Speaker 1: So that's the basic plan, sustainable abundance for all.

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Speaker 2: All right, So.

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Speaker 1: Yeah, I guess we can go into Queen now, maybe

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at the next annual shoulder meeting. We'll have optimists takes

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some of the questions. That'd be cool. So let's see Alejohn,

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thank you for your help.

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Speaker 3: By the way, Yeah, please go ahead, is it?

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Speaker 4: No, let me hold it.

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Speaker 1: It's okay.

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Speaker 5: What a year has been?

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Speaker 1: Right?

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Speaker 4: Just a year ago President Trump got elected on the

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same day. These twelve months have been a heck of

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twelve months. Thank you to the board because I think

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they had to weather quite some storms. Institutional investors, and

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obviously thank you to you, and we stand with you.

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I think we showed it and we will show.

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Speaker 2: It at.

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Speaker 4: So we would like to express a wish please. This

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is a nice venue. We love coming to the factory

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and I think it's actually great we're doing this at

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the factory. But there are thousands of retail investors who

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are crying because they cannot they come to me. I

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love taking the Mama, but I now give it to you.

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Please organize a bigger venue, a bigger than Berkshire, and

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we will do better than Berkshire.

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Speaker 1: Okay, sure we can pay. Yeah, see, Tessa will be

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very bigger than Berkshire. Long term, it's gonna be naughty,

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all right. We'll do the next one were able in

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the yeah, like the yeah, maybe they're downtown arena or

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the soccer stadium or something like that, and get your

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security check.

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Speaker 4: We want to make sure that you're safe.

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Speaker 2: What if I just we.

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Speaker 4: But we want to party. And if you can bring

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the other Elon companies there as well, let's just.

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Speaker 1: Would really appreciate.

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Speaker 2: All right, So that's good.

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Speaker 4: Thank you very much for listening to.

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Speaker 2: Elon as a father.

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Speaker 6: I just want to first thank you for the everything

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you're doing in the world, especially freedom of speech.

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Speaker 2: Thank you.

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Speaker 6: And one question. Will you a Tesla ever consider FSD

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tied to an owner's account rather than a vehicle to

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encourage more frequent upgrades, provided a transfer is to only

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a brain new Tesla vehicle, while flustering brand loyalty. If

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the vehicle has sold the trade of about upgrade to

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another Tesla f S, the ownership would end.

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Speaker 1: We have done that a few times. I guess we

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could extend it again. All right, we'll extend it. We'll

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extend it for at least another quarter and then play

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it by a year after that.

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Speaker 7: All right, howdy Elon, congrats on not having to show

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up to work for free anymore.

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Speaker 8: Yeah, we now have over a forty billion dollar war chest.

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Speaker 7: We're cash flow positive and remain that. We know how

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you feel about FIAT already.

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Speaker 2: Is it time to take a look at bitcoin?

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Speaker 7: What's your belief on that? Also, you've hinted towards that

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there's a wheelchair accessible model in the works where you're

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referring to the Reboven, and if so, can we please

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speed up production to help the least fortunate.

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Speaker 2: Sure?

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Speaker 1: Yeah, obviously we need a vehicle that's big enough to

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fit a wheelchair wheelchair accessible.

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Speaker 2: So I think that.

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Speaker 1: That is the Reboven or Robust or whatever we call it.

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It's not like we're slowing down because we want to

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slow down. It's like we're spending in like gazillion plates here.

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But I do think it would be very cool because

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I think esthetically as well, it's just it's just would

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change the look of the roads and make it feel

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like the future.

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Speaker 2: So it won't be long before we.

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Speaker 1: Make that, but it's but since we do have optimists,

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the we've got cybercaf optimists and semi all next year

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it will probably have to be maybe the year that,

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you know, a couple of years from now or something

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like that. But we certainly will make a wheelchair accessible vehicle.

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Speaker 9: Thanks Hi, so she I was privileged enough to attend

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the investor day, And you've also talked about the factory

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being a product, and I saw the dry cathode method

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and so forth, and I wanted to know the progress

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in that and also would often be working on that

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in the future production line in the future.

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Speaker 1: Yeah, I guess the dry cathode man that's turned out

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to be a lot harder than we thought.

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Speaker 2: It does. Looked like it's going to be successful and it.

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Speaker 1: Will have some cost advantage relative to wet cathode. But

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if had to wind the clock back, I would probably

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have gone with wet cathode instead of dry cathode because

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it just turned out to be a lot harder to

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make it capable of high buluing production with super higher liability. Yeah,

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but we will be we will be scaling up battery

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cell production at Tesla and looking for cell production from

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ou suppliers as well, because we're going to be ramping

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up production very dramatically at Tesla now that we believe

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we have full self dropping, that we have autonomy solved,

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or at least or within a few months of having

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it unsupvised autonomy solved at a reliability level significantly better

401
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than human It's not that means it's time to ramp

402
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up production because the value proposition is.

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Speaker 2: Now much greater than a regular car.

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Speaker 1: The killer app really is for people, can you text

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and drive or can you sleep and drive? Can you

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can the car take you to your destination? Or do

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you need to pay attention and be and.

408
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Speaker 2: Have to drive it?

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Speaker 1: And before we allow the car to be driven without

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paying attention, we need to make sure it's very safe.

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Speaker 2: But like I said, we're on the cusp of that.

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Speaker 1: I know said that a few times, but we really

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are at this point and you can feel it for

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yourselves with the fourteen point one release. So the what

415
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we're going to try to we're going to push to

416
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expand vehicle production as fast as we possibly can. So

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aspirationally would aim to increase vehicle production by about fifty

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percent by the end of next year. So yeah, so

419
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that's it's very hard to increased production, but that's roughly

420
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I don't know, maybe we get I'm just guessing at

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an exit rate by the Internet year of around two

422
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point six two point seven million vehicles annualized production and

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then aim to get to maybe four million by the

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annualized rate by the end of twenty seven, and then

425
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maybe five million by the end of twenty eight. Those

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are rough those are our aspirational goals. So these are

427
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This is a gigantic increase in output, which means that

428
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the entire supply chain has to move in unison with

429
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that with that increase in volume, and the nature of

430
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producing a large, complex product is that it moves as

431
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fast as the least lucky, dumbest element in the entire system.

432
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And there's ten thousand plus items. But this, like I said,

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this really is a new It's not just a new

434
00:27:52,119 --> 00:27:54,720
chapter for Teesla. It's a new book, and that new

435
00:27:54,720 --> 00:28:00,160
book is massively increasing vehicle production and ramping up OPTIMS

436
00:28:00,200 --> 00:28:03,839
production faster than any things ever been wrapped up before

437
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in history.

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Speaker 2: Awesome, Elon, thank you, Thank you from all of us.

439
00:28:09,279 --> 00:28:13,400
Speaker 10: The retail shareholders really care and so echo the sentiment

440
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of a larger venue work can come as a testament

441
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to that. I was here, I was fortunate enough to

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be her last year and since then touring the factory

443
00:28:23,599 --> 00:28:27,039
talking to people that work here. I'm just a retail shareholder,

444
00:28:27,039 --> 00:28:30,680
but increase my holdings twelve times, So I know it's

445
00:28:30,759 --> 00:28:34,200
really engaging and gives people confidence, and so thank you

446
00:28:34,240 --> 00:28:35,880
for having us, and I do echo that I hope

447
00:28:35,880 --> 00:28:38,599
it grows. Last year, I'm the one that asked you

448
00:28:38,640 --> 00:28:40,119
about your well being and safety.

449
00:28:40,400 --> 00:28:42,079
Speaker 2: Oh yeah, full life.

450
00:28:48,599 --> 00:28:51,880
Speaker 10: It was a broad general question and it was before

451
00:28:52,319 --> 00:28:55,000
some of the uncertainty that's unfolded since then. And yes,

452
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I hope that had a positive impact and we all care.

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Speaker 2: And so my question this year.

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Speaker 10: You've talked recently about the most mind blowing product demo

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of all time and a shot at being the most

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memorable product.

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Speaker 2: Oh yeah ever roadster. Yeah yeah.

458
00:29:15,759 --> 00:29:20,279
Speaker 10: And I have patiently been waiting on my Founder's series

459
00:29:21,000 --> 00:29:24,880
Roaster Reservation on behalf of the Founder Series. Guys that

460
00:29:24,920 --> 00:29:30,119
have stuck in there, can we be unvited to this unveil?

461
00:29:30,359 --> 00:29:32,279
Speaker 2: Oh yeah, sure, absolutely definitely.

462
00:29:32,640 --> 00:29:36,000
Speaker 10: Okay, yes, all Founders series can be in.

463
00:29:36,480 --> 00:29:39,160
Speaker 1: Yes, it's the least we could do, frankly for people

464
00:29:39,200 --> 00:29:45,559
that have along suffering Roaster Reservation holders. The I I

465
00:29:46,440 --> 00:29:48,920
feel confident in saying it will be the most exciting

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product on bail ever, and I hope that whether it

467
00:29:56,920 --> 00:29:58,440
goes well or it doesn't go well.

468
00:30:00,079 --> 00:30:03,000
Speaker 10: Some them up here. Can I get the first one?

469
00:30:03,759 --> 00:30:07,079
Speaker 1: I guess the it's according to who whoever put down

470
00:30:07,119 --> 00:30:11,319
the deposits in that sequence, So that's the but you'll

471
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get a very early one.

472
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Speaker 2: And the new.

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Speaker 1: Roaster is very much like it's not even the icing

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00:30:15,920 --> 00:30:17,680
on the cake, it's the cherry on the icing on

475
00:30:17,720 --> 00:30:21,240
the cake. It's really it's not essential for sustainable abundance.

476
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Speaker 2: Put it that way.

477
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Speaker 1: But I do think there should be very cool technology

478
00:30:26,240 --> 00:30:29,759
in the world that is, let's wave beyond anything that's

479
00:30:29,759 --> 00:30:35,079
ever existed. And I think I'd like those even if

480
00:30:35,079 --> 00:30:36,839
I could never have access to those things, I'd like

481
00:30:36,880 --> 00:30:39,279
to know that they exist and see the future happening.

482
00:30:40,119 --> 00:30:41,839
So I think it will be inspiring to a lot

483
00:30:41,839 --> 00:30:44,119
of people. And just it's extreme.

484
00:30:44,359 --> 00:30:44,759
Speaker 2: It's like.

485
00:30:46,240 --> 00:30:49,279
Speaker 1: The coolest car if it even is a car that

486
00:30:49,440 --> 00:30:56,400
is ever that will probably ever exist. Yeah, Eilon, congrats

487
00:30:56,400 --> 00:30:57,359
on the proposal plan.

488
00:30:57,440 --> 00:30:59,440
Speaker 2: That was amazing. The compensation question.

489
00:30:59,519 --> 00:31:02,519
Speaker 1: Back to Chick, the chips will be the limiting factor

490
00:31:02,720 --> 00:31:05,960
to the future, so on chips and electricity are the

491
00:31:06,000 --> 00:31:06,920
two limiting factors.

492
00:31:07,000 --> 00:31:07,799
Speaker 2: Yeah, and we got the.

493
00:31:07,880 --> 00:31:10,720
Speaker 11: Energy and power and energy packs ready to roll. So

494
00:31:10,720 --> 00:31:13,240
I think on the chips. I think you said TSMC, Samsung,

495
00:31:13,319 --> 00:31:16,680
perhaps Intel fourteen A and several different sites are a

496
00:31:16,680 --> 00:31:18,400
couple of US factory sources, which.

497
00:31:18,200 --> 00:31:21,680
Speaker 2: Is we're like everyone every day. Yeah yeah, And.

498
00:31:21,680 --> 00:31:24,240
Speaker 11: So I guess the is there an open door in

499
00:31:24,279 --> 00:31:27,480
the future of investing directly into some of those boundaries.

500
00:31:27,880 --> 00:31:30,400
And second question, how big is a terraff factory? Can

501
00:31:30,400 --> 00:31:33,480
you put that in scale? And oh yeah, yeah, that's

502
00:31:34,839 --> 00:31:36,279
TERROR factory.

503
00:31:37,359 --> 00:31:37,599
Speaker 2: Yeah.

504
00:31:37,920 --> 00:31:39,960
Speaker 1: The thing is that we actually have agreed to buy

505
00:31:40,039 --> 00:31:42,440
all the chips that are made from the FAB, so

506
00:31:42,480 --> 00:31:46,319
it's basically a money printing machine for TSMC and Samsung.

507
00:31:46,519 --> 00:31:48,880
It's like literally the fast you make the trips are faster,

508
00:31:48,960 --> 00:31:52,440
we sent them money, but it's still not going at

509
00:31:52,759 --> 00:31:59,359
just fast enough. So that's why I think, as far

510
00:31:59,359 --> 00:32:01,559
as I can see, the only option is to go

511
00:32:01,720 --> 00:32:05,400
boild some very big chip bab and then you've got

512
00:32:05,400 --> 00:32:08,000
to solve memory and packaging too. But otherwise you just

513
00:32:08,559 --> 00:32:11,759
tap out at whatever the chip production rate is. And

514
00:32:11,839 --> 00:32:13,400
so I guess TERROR would be you'd want to say,

515
00:32:13,440 --> 00:32:15,200
it's got to be at least one hundred thousand way

516
00:32:15,240 --> 00:32:20,480
for starts per month size fab and maybe that would

517
00:32:20,480 --> 00:32:23,240
be one of ten in a complex. So will ultimately

518
00:32:23,279 --> 00:32:28,519
be a million wafers starts per month? Yeah, exactly. You

519
00:32:28,559 --> 00:32:30,880
can tell when it gets the giggle factor. That's probably

520
00:32:31,240 --> 00:32:37,519
a good sign that we're onto something special. But I

521
00:32:37,519 --> 00:32:39,480
wouldn't be surprised for long term, it's like a million

522
00:32:39,680 --> 00:32:40,400
wafers a month.

523
00:32:41,680 --> 00:32:45,839
Speaker 2: Yeah.

524
00:32:45,960 --> 00:32:48,960
Speaker 12: Hi, I'm a long term investor, so I've been holding

525
00:32:48,960 --> 00:32:51,640
the shares for twelve years. I worked at the Autopilot

526
00:32:51,640 --> 00:32:54,799
team development for ten years, and I brought my dad

527
00:32:54,839 --> 00:32:58,000
here from Brazil. We actually won the testlevision contest with

528
00:32:58,079 --> 00:33:00,519
the cyber truck b VideA. I hope you got to

529
00:33:00,519 --> 00:33:02,759
see that at some point. So thanks for the free mode.

530
00:33:02,759 --> 00:33:06,480
The why, and then my question is about obviously market expansion,

531
00:33:06,680 --> 00:33:09,880
but not only South America, Brazil, but also into Mars.

532
00:33:09,880 --> 00:33:12,759
Like with the upcoming rendezvous of Mars and Earth, what's

533
00:33:12,799 --> 00:33:14,720
going to be in a pillow where we're going to send.

534
00:33:14,519 --> 00:33:18,160
Speaker 1: There, Optimist is going to play a big role Optimists,

535
00:33:18,160 --> 00:33:20,599
and I think tells the vehicles will play a big.

536
00:33:20,559 --> 00:33:22,440
Speaker 2: Role on the Moon and Mars.

537
00:33:23,119 --> 00:33:26,519
Speaker 1: So for a Moon base and a Mars city, tells

538
00:33:26,519 --> 00:33:29,839
the vehicles and Optimus robots are natural fit for building

539
00:33:30,359 --> 00:33:33,519
and operating a Moon base and a Mars city.

540
00:33:35,480 --> 00:33:39,039
Speaker 2: So sorry tyber truck. Also yeah, yeah, it's cyber truck.

541
00:33:39,319 --> 00:33:41,640
Speaker 1: You will need to drive around and pressurized vehicle if

542
00:33:41,680 --> 00:33:45,039
there's a person inside. But yeah, it'll be something cool

543
00:33:45,160 --> 00:33:47,720
the next level Moon buggy or my Mars buggy.

544
00:33:48,960 --> 00:33:53,480
Speaker 13: All right, Hi, mister musk GOREV been a fan of

545
00:33:53,519 --> 00:33:56,000
yours since two thousand and six. I think I saw

546
00:33:56,039 --> 00:33:59,559
a piece in a popular science magazine. It was really cool,

547
00:33:59,599 --> 00:34:02,519
and I think I was fifteen at the time. Shareholders.

548
00:34:02,519 --> 00:34:05,039
Since ten years now, it's been really rewarding. It's changed

549
00:34:05,079 --> 00:34:07,759
my life, So thank you very much to you and Tesla.

550
00:34:08,480 --> 00:34:13,000
My question is regarding Tesla's mission for a sustainable future

551
00:34:13,000 --> 00:34:17,119
as it pertains to autonomy. I personally fully expect a

552
00:34:17,239 --> 00:34:23,519
deflationary period after unlocked by autonomy, basically both in moving

553
00:34:23,679 --> 00:34:28,440
humans and goods and whatnot, excluding Optimus even yeah, what

554
00:34:28,519 --> 00:34:32,239
efforts are is Tesla going to focus on to reduce

555
00:34:32,280 --> 00:34:36,000
the dollars per mile rough math? I think like thirty

556
00:34:36,039 --> 00:34:40,000
cents a mile would be really nice. Fifty cents is

557
00:34:40,079 --> 00:34:43,199
pretty good too, looking at inflation later on, and then

558
00:34:43,480 --> 00:34:45,400
I guess the second part of that, how low does

559
00:34:45,440 --> 00:34:48,440
it have to be for people to just stop buying

560
00:34:48,480 --> 00:34:50,800
cars like where it doesn't make economic sense to do that.

561
00:34:51,519 --> 00:34:54,119
I expect that to affect economies of scale and then

562
00:34:54,199 --> 00:34:57,760
further increase the pricing of vehicles they're on out. So like,

563
00:34:57,840 --> 00:35:01,280
how what is that node at which inflection happens.

564
00:35:02,400 --> 00:35:03,679
Speaker 2: In terms of cost per mile?

565
00:35:03,800 --> 00:35:06,039
Speaker 1: We do see a path with a lot of work

566
00:35:06,199 --> 00:35:08,719
to get below twenty cents a mile in current ear dollars,

567
00:35:09,800 --> 00:35:12,719
and I someone agree that there's things will probably be

568
00:35:12,760 --> 00:35:16,559
deflationary as productivity increases. Because you can think of money

569
00:35:16,559 --> 00:35:19,159
supply as being the ratio of goods and services to

570
00:35:19,920 --> 00:35:22,400
what's the growth in goods and services versus the growth in.

571
00:35:22,400 --> 00:35:23,039
Speaker 2: The money supply.

572
00:35:23,360 --> 00:35:27,119
Speaker 1: That ratio is basically inflation, and so if the output

573
00:35:27,119 --> 00:35:29,079
of goods and services grows faster than the money supply,

574
00:35:29,159 --> 00:35:32,159
then you necessarily have deflation or vice versa. They try

575
00:35:32,199 --> 00:35:34,599
to make it sound complicated, but it's not. I'm not

576
00:35:34,599 --> 00:35:39,760
sure that even government overspending can actually I think government

577
00:35:39,760 --> 00:35:42,400
overspending will not be will be lower than the increase

578
00:35:42,440 --> 00:35:45,400
in productivity of goods and services, which would apply to

579
00:35:45,559 --> 00:35:47,039
deflation as you expect.

580
00:35:50,159 --> 00:35:53,320
Speaker 13: Sorry, what about economies of scale? And be impacted. Has

581
00:35:53,400 --> 00:35:56,760
to how you respond as an automotive company when people

582
00:35:56,800 --> 00:35:58,519
stop potentially buying cars.

583
00:35:59,199 --> 00:36:01,400
Speaker 2: Economies, sorry, economies of scale in.

584
00:36:01,719 --> 00:36:04,559
Speaker 13: Like auto manufacturering for instance, it only makes sense if

585
00:36:04,599 --> 00:36:05,960
lots of people buy your vehicles.

586
00:36:06,400 --> 00:36:08,920
Speaker 2: Oh, the total number of vehicles will decrease.

587
00:36:09,280 --> 00:36:11,519
Speaker 1: This sort of vehicle fleet out there is about two

588
00:36:11,519 --> 00:36:13,559
billion of cars, but to two billion if you add

589
00:36:13,639 --> 00:36:16,000
up old corson trucks that are not at a scrap yard.

590
00:36:16,000 --> 00:36:19,760
I think it's around two billion, but that number would

591
00:36:19,760 --> 00:36:23,760
decrease with autonomous vehicles, so the total fleet size would drop.

592
00:36:24,280 --> 00:36:27,639
I actually think miles driven will increase because it's now

593
00:36:27,719 --> 00:36:31,440
much less painful to travel somewhere. So if somebody's thinking

594
00:36:31,440 --> 00:36:35,239
about traveling across the busy city, then they'll take into

595
00:36:35,280 --> 00:36:36,880
account how much pain do I have to deal with

596
00:36:36,960 --> 00:36:38,559
If I have to do it through two hours of traffic,

597
00:36:38,559 --> 00:36:40,679
I probably won't won't do it. But if you're just

598
00:36:41,280 --> 00:36:44,440
say sitting in a cybercab watching a movie or doing

599
00:36:44,480 --> 00:36:47,159
some work, then it's just like sitting in a little lounge,

600
00:36:47,719 --> 00:36:50,599
And so I think you'll see probably a significant increase

601
00:36:50,679 --> 00:36:52,880
in total miles driven. But at the same time, a

602
00:36:52,960 --> 00:36:56,079
decrease in the total active fleet of vehicles.

603
00:36:58,960 --> 00:37:01,079
Speaker 14: I'd just like to reiterate how grateful we all are

604
00:37:01,159 --> 00:37:03,559
to have you on board, ready to lead us to

605
00:37:03,559 --> 00:37:05,960
another seven trillion in market cap at.

606
00:37:05,880 --> 00:37:09,559
Speaker 2: Least at least obviously thank you.

607
00:37:10,920 --> 00:37:12,840
Speaker 14: My question is how much of a concern is it

608
00:37:12,920 --> 00:37:15,840
that when Cybercabs starts production in Q two next year,

609
00:37:16,119 --> 00:37:18,440
that regulation won't be there yet to where you can

610
00:37:18,480 --> 00:37:22,199
deploy cybercabs being produced. Or are you guys confident that

611
00:37:22,599 --> 00:37:24,599
every cybercab you guys make you'll be able to deploy.

612
00:37:26,079 --> 00:37:26,280
Speaker 2: Yeah.

613
00:37:26,440 --> 00:37:29,679
Speaker 1: I think the rate at which we'll we receive regulatory

614
00:37:29,679 --> 00:37:34,519
approval will roughly match the rate of cybercab production. It'll

615
00:37:34,559 --> 00:37:37,639
be maybe a little tight, but that's it's about right.

616
00:37:38,320 --> 00:37:40,320
And i'd like to thank Way more for paving the

617
00:37:40,360 --> 00:37:44,760
path here. It's very helpful. Yeah, but I think we'll

618
00:37:44,760 --> 00:37:48,679
be able to deploy all the cyberclbs that we produce.

619
00:37:49,360 --> 00:37:53,480
Speaker 2: And the other thing is, once it becomes like extremely

620
00:37:53,519 --> 00:37:55,119
normal in cities, it's.

621
00:37:55,000 --> 00:37:58,320
Speaker 1: Just going to become like the regulators will have just

622
00:37:58,480 --> 00:37:59,920
fewer and fewer reasons to say no.

623
00:38:00,800 --> 00:38:02,559
Speaker 2: And then you've got this, You've got the.

624
00:38:02,519 --> 00:38:05,440
Speaker 1: Accident statistics at scale, and you can show that what

625
00:38:05,480 --> 00:38:12,360
autonomous miles save lives then, and you've got unequivocal billions

626
00:38:12,360 --> 00:38:14,440
of miles to prove it, then I think it's hard

627
00:38:14,440 --> 00:38:21,320
for regulators to say no. Yeah, true. All right.

628
00:38:22,679 --> 00:38:24,440
Speaker 15: First of all, Leland, thank you so much for everything

629
00:38:24,440 --> 00:38:27,679
you do for the Tesla shareholders. Do you see a

630
00:38:27,760 --> 00:38:32,840
path for optimists to have consciousness downloaded to it?

631
00:38:34,360 --> 00:38:41,639
Speaker 1: You mean human consciousness or yeah, it's not immediate, but

632
00:38:42,000 --> 00:38:44,880
if you say it down the road, would you be

633
00:38:44,920 --> 00:38:51,400
able to say, with a neural link, have a snapshot

634
00:38:51,639 --> 00:38:56,360
of what is an approximate snapshot of somebody's mind and

635
00:38:56,400 --> 00:39:01,760
then upload that approximate snapshot to optimus body. I think

636
00:39:01,800 --> 00:39:05,519
that at some point that technology becomes possible, and it's

637
00:39:05,519 --> 00:39:09,840
probably less than twenty years. Yeah, but of course you

638
00:39:09,880 --> 00:39:12,679
won't quite be the same, be a little different because

639
00:39:12,719 --> 00:39:15,360
you'll be in a robot body and the mental snapshot

640
00:39:15,440 --> 00:39:19,800
will not be precise. It'll be a probably pretty close,

641
00:39:19,840 --> 00:39:22,480
but not exactly the same. On the other hand, are

642
00:39:22,519 --> 00:39:24,920
you the same person that you were five years ago? Nope,

643
00:39:24,920 --> 00:39:27,280
A lot of things have changed. Yeah, but I guess

644
00:39:27,360 --> 00:39:30,239
at some point, if you want to be uploaded to

645
00:39:30,280 --> 00:39:32,960
a robot body. My guess is that becomes possible.

646
00:39:35,360 --> 00:39:41,639
Speaker 16: Yeah, hi, elon space based data center is a great idea,

647
00:39:41,679 --> 00:39:42,719
and I agree with that.

648
00:39:42,800 --> 00:39:43,000
Speaker 2: Yeah.

649
00:39:43,000 --> 00:39:46,960
Speaker 16: I was curious on your views on space based solar power,

650
00:39:47,119 --> 00:39:50,199
the idea of beaming down microwave energy down to Earth

651
00:39:50,599 --> 00:39:52,320
so that you can just point it to where it

652
00:39:52,320 --> 00:39:55,599
needs to go without transmission, without distribution lines, and it's

653
00:39:55,639 --> 00:40:00,280
more energy dense, so you know, less band use. Just

654
00:40:00,360 --> 00:40:02,079
curious on your views.

655
00:40:03,039 --> 00:40:06,519
Speaker 1: Space solar power until the advent of something like Starship,

656
00:40:07,199 --> 00:40:10,800
where the cost per ton to orbit drops by orders

657
00:40:10,800 --> 00:40:13,880
of magnitude. The cost of getting Pale to orbit is

658
00:40:13,920 --> 00:40:16,119
so high that there was no possibility of space solar

659
00:40:16,119 --> 00:40:17,599
power solving anything.

660
00:40:17,639 --> 00:40:17,960
Speaker 2: Really.

661
00:40:18,639 --> 00:40:22,159
Speaker 1: Now with Starship, like I see a path to Starship

662
00:40:22,280 --> 00:40:24,320
cost per ton to orbit being.

663
00:40:24,159 --> 00:40:25,440
Speaker 2: Lower than air flight.

664
00:40:26,079 --> 00:40:29,800
Speaker 1: If you were to fly to a long distance airflight

665
00:40:30,639 --> 00:40:34,840
with cargirls, they took seven forty seven from here to Sydney,

666
00:40:34,840 --> 00:40:35,920
Australia or something like that.

667
00:40:37,000 --> 00:40:39,320
Speaker 2: I think I think ultimately Starship.

668
00:40:38,880 --> 00:40:42,719
Speaker 1: Will be able to do that trip for less cost

669
00:40:42,840 --> 00:40:46,719
per ton than an aircraft. So then you so now

670
00:40:46,760 --> 00:40:51,159
that now you've got that opens up a what very

671
00:40:51,519 --> 00:40:54,599
wide range of possibilities, like the most obvious one I

672
00:40:54,639 --> 00:40:59,480
think is actually solar powered AI satellites, So to move

673
00:40:59,559 --> 00:41:04,440
the AI to orbit and essentially deep space over time,

674
00:41:05,039 --> 00:41:09,280
because the you can actually access over a billion times

675
00:41:09,280 --> 00:41:12,400
more energy from the Sun in deep space than you

676
00:41:12,440 --> 00:41:18,400
can on Earth. The scaling to scale to crterships any

677
00:41:18,840 --> 00:41:21,719
to make any progress on a crdoship two scale, which

678
00:41:21,800 --> 00:41:26,559
is using some non trivial amount of energy from the Sun.

679
00:41:27,039 --> 00:41:29,039
Speaker 2: You have to do space solar power.

680
00:41:29,800 --> 00:41:31,920
Speaker 1: Now you could only beam a tiny amount of that

681
00:41:32,079 --> 00:41:33,760
back to Earth or you would melt Earth.

682
00:41:34,440 --> 00:41:37,679
Speaker 2: So Earth actually receives a very.

683
00:41:37,559 --> 00:41:41,079
Speaker 1: Tiny amount of the Sun's energy, where Earth is a tiny.

684
00:41:40,880 --> 00:41:43,639
Speaker 2: Dust mote you see, like Earth to.

685
00:41:43,639 --> 00:41:45,960
Speaker 1: Scale with the Sun, we look like a little crumb.

686
00:41:47,079 --> 00:41:51,679
Speaker 2: So the to scale civilization.

687
00:41:52,559 --> 00:41:54,760
Speaker 1: Like said to be at all relevant on a cordship

688
00:41:54,800 --> 00:41:57,599
of two scale, like to even use a millionth of

689
00:41:57,639 --> 00:42:00,760
a percent of the Sun's energy, you really have to

690
00:42:00,760 --> 00:42:05,440
be have your soul power in deep space and you

691
00:42:05,440 --> 00:42:07,119
could be in some of that back to Earth too,

692
00:42:07,679 --> 00:42:09,800
but you can only be a tiny bit of it

693
00:42:09,880 --> 00:42:11,079
back or you'd melt Earth.

694
00:42:13,360 --> 00:42:14,800
Speaker 17: And this will be our last question.

695
00:42:16,440 --> 00:42:17,840
Speaker 2: Well do okay, we'll do a few more we'll do

696
00:42:17,880 --> 00:42:22,039
a few more. Sorry, I'm sorry, all right, Elan. Look

697
00:42:22,079 --> 00:42:22,559
around you.

698
00:42:22,719 --> 00:42:28,199
Speaker 18: This is a very small sample of Tesla soldiers. Maybe

699
00:42:28,320 --> 00:42:31,079
actually I should say, elin Musk soldiers.

700
00:42:31,239 --> 00:42:34,760
Speaker 1: Thank you for your sport. So thank you everyone. I'd

701
00:42:34,880 --> 00:42:37,000
like to say thank you from the bottom of my

702
00:42:37,079 --> 00:42:38,519
heart for your support.

703
00:42:38,679 --> 00:42:40,239
Speaker 2: Thank you, and thank you every one out there.

704
00:42:40,320 --> 00:42:46,800
Speaker 18: So I know for sure a lot of them sold

705
00:42:46,800 --> 00:42:50,719
the farm to buy Tesla, and they stuck with Tesla

706
00:42:50,880 --> 00:42:54,119
through thick and thin, good days and bad days.

707
00:42:54,320 --> 00:42:56,119
Speaker 2: Yes, So my.

708
00:42:56,199 --> 00:43:00,280
Speaker 18: Question to you is, how do you feel about the thing,

709
00:43:00,360 --> 00:43:03,599
the success, but in a safer way where you get

710
00:43:04,199 --> 00:43:10,440
qualified Tesla retail investor only to invest in SpaceX, avoiding

711
00:43:10,480 --> 00:43:16,639
all these market manipulators, those crooks, and these short sellers.

712
00:43:15,960 --> 00:43:19,760
Speaker 1: It is a tough problem that you highlight the basically

713
00:43:19,840 --> 00:43:24,000
the unfortunately, over time, the parasitic load of being a

714
00:43:24,000 --> 00:43:27,320
public company has just grown over time, and so you

715
00:43:27,360 --> 00:43:31,679
get all these spurious lawsuits, obviously, and they just make

716
00:43:31,719 --> 00:43:34,920
it very difficult to operate effectively as a public company.

717
00:43:35,079 --> 00:43:36,559
But I do want to try to figure out some

718
00:43:36,639 --> 00:43:40,639
way for Tesla shareholders to participate in SpaceX.

719
00:43:40,639 --> 00:44:01,360
Speaker 19: That would be very cool.

720
00:44:04,440 --> 00:44:06,960
Speaker 1: I've been giving a lot of thought to how to

721
00:44:07,000 --> 00:44:10,119
give people access to SpaceX stock, because I do want

722
00:44:10,199 --> 00:44:13,960
supporters to have SpaceX stock. But there's a sort of

723
00:44:14,719 --> 00:44:18,760
twenty five hundred shareholder threshold for before you become impacted.

724
00:44:18,360 --> 00:44:19,159
Speaker 2: A public company.

725
00:44:19,800 --> 00:44:21,920
Speaker 1: But I don't know, maybe at some point tells it,

726
00:44:22,119 --> 00:44:24,480
maybe made some point SpaceX should become a public company

727
00:44:24,960 --> 00:44:26,840
despite all the downsides of being public.

728
00:44:28,599 --> 00:44:34,519
Speaker 20: All right, Okay, first of all, thank you very much, Elon.

729
00:44:34,880 --> 00:44:37,719
Just an amazing job you're doing, not only for Tesla

730
00:44:37,760 --> 00:44:41,000
shareholders but humanity in general. So we got a couple

731
00:44:41,039 --> 00:44:42,880
of questions. Many of us are asking, like, we want

732
00:44:42,880 --> 00:44:44,599
to know. Many of us think you are one of

733
00:44:44,639 --> 00:44:48,960
the most consequential business people honor of ever and we

734
00:44:49,000 --> 00:44:51,920
want to understand how do you think, For example, like

735
00:44:52,000 --> 00:44:53,920
a couple of one, how did you know in the

736
00:44:53,960 --> 00:44:56,519
master plant part two, this is like twenty eighteen or

737
00:44:56,559 --> 00:44:59,800
something like that, you calculated that point it takes six

738
00:45:00,079 --> 00:45:04,719
billion miles of FSD miles driven before maybe the world

739
00:45:04,800 --> 00:45:08,000
the regatory would prove it. And then the second is

740
00:45:08,039 --> 00:45:10,960
like when you were deciding if Tessa's going to have

741
00:45:11,119 --> 00:45:14,599
the hardware chips AI chips, did you know at that

742
00:45:14,679 --> 00:45:17,320
time that at some point when you get to AA five,

743
00:45:17,559 --> 00:45:20,400
it's going to be used not only for cars but

744
00:45:20,639 --> 00:45:23,199
for bots and for AI data centers.

745
00:45:23,400 --> 00:45:25,599
Speaker 2: Was that luck a little bit or was it.

746
00:45:25,559 --> 00:45:26,920
Speaker 21: Like you that was going to happen?

747
00:45:28,000 --> 00:45:31,039
Speaker 1: I generally, I mean in terms of the estimates, like

748
00:45:31,280 --> 00:45:33,800
the for the self driving stuff, I generally try to

749
00:45:33,800 --> 00:45:37,119
get things to within an order of magnitude. So if so,

750
00:45:37,920 --> 00:45:40,360
it seemed to me like probably and this was technically

751
00:45:40,360 --> 00:45:46,280
in kilometers, but would be more closer to ten billion kilometers,

752
00:45:46,320 --> 00:45:48,679
which is roughly six billion miles. Then it would be

753
00:45:48,679 --> 00:45:50,639
to one billion, but I think I thought it would

754
00:45:50,639 --> 00:45:52,840
not take one hundred billion kilometers.

755
00:45:53,039 --> 00:45:53,920
Speaker 2: So it's really just.

756
00:45:54,800 --> 00:45:57,480
Speaker 1: Trying to when you're trying to guess something where there's

757
00:45:57,480 --> 00:45:59,960
a lot of uncertainty, just try to get it get

758
00:46:00,400 --> 00:46:03,800
the estimate to the nearest order mangitude closest factor of ten.

759
00:46:04,199 --> 00:46:07,519
And that's why I said probably around ten billion kilometers

760
00:46:07,639 --> 00:46:10,480
or six billion miles. And then yeah, the chip the

761
00:46:10,519 --> 00:46:14,440
reason Tesla created a chip team, And it's important though,

762
00:46:14,480 --> 00:46:16,440
like the vast majority of Tesla is like a dozen

763
00:46:16,480 --> 00:46:21,079
startups in one and the only we've only really done

764
00:46:21,079 --> 00:46:24,679
one major acquisition, which is solar City and then had

765
00:46:24,719 --> 00:46:27,639
some very small ones. So all of us is almost

766
00:46:27,639 --> 00:46:30,000
all of this is organic. I built the CHIP team

767
00:46:30,000 --> 00:46:34,440
from scratch and the AI team from scratch. The it

768
00:46:34,480 --> 00:46:39,119
was just because it became a limiting factor. Hardware too,

769
00:46:39,239 --> 00:46:42,760
we used in video, but in video was at that

770
00:46:42,840 --> 00:46:48,760
time focused on making really AI server hardware, which obviously

771
00:46:48,840 --> 00:46:50,960
was a smart bet. Though the most val currently the

772
00:46:50,960 --> 00:46:54,280
most valuable company in the world, and Jensen Long his

773
00:46:54,360 --> 00:46:56,320
team have done an incredible job at in video.

774
00:46:56,400 --> 00:46:57,400
Speaker 2: My headsaft to them.

775
00:46:57,679 --> 00:47:00,320
Speaker 1: I'm a huge admirer of Jensen and in video done

776
00:47:00,320 --> 00:47:02,880
amazing work, but they were they didn't want to do

777
00:47:03,199 --> 00:47:07,519
a cut a low cost, power efficient car computer at

778
00:47:07,559 --> 00:47:10,159
the time AI car computer. So it's like, okay, I

779
00:47:10,159 --> 00:47:12,920
guess we need to start a chip team to solve that.

780
00:47:13,559 --> 00:47:16,239
So then that's when I hired Jim Keller and we

781
00:47:16,280 --> 00:47:20,599
built the chip team and did AI three, then AI four,

782
00:47:21,880 --> 00:47:23,719
and then we to be honest, we made a few

783
00:47:23,880 --> 00:47:26,280
we made some mistakes there with AI five, but now

784
00:47:26,320 --> 00:47:29,159
AI five is back on track and we'll have a

785
00:47:29,239 --> 00:47:32,239
very rapid cadence to AI six and so forth, and

786
00:47:32,280 --> 00:47:36,639
this will really this is really necessary for for the

787
00:47:36,719 --> 00:47:39,719
car to like like With AI four, I think we

788
00:47:39,760 --> 00:47:43,559
can get to two or three hundred percent better than

789
00:47:43,880 --> 00:47:47,480
human safety, maybe four hundred percent better. But with AI five,

790
00:47:47,559 --> 00:47:50,280
I think we can do one thousand percent better or

791
00:47:50,280 --> 00:47:53,079
maybe even better than that, and then human safety at

792
00:47:53,079 --> 00:47:55,360
a certain point. Actually, it might be too much intelligence

793
00:47:55,360 --> 00:47:57,320
for a car because like I was thinking, like, what

794
00:47:57,360 --> 00:47:59,119
if you get stuck in a car and you have

795
00:47:59,159 --> 00:48:02,400
too much intelligence? But then one of the things we

796
00:48:02,440 --> 00:48:05,000
could do is when the car is idle, is use

797
00:48:05,079 --> 00:48:09,960
the car as a massive distributed AI infrince fleet with

798
00:48:10,000 --> 00:48:11,920
the content of customers. We're like, do you want your

799
00:48:11,960 --> 00:48:14,880
car to earn money for you while it's sitting in your.

800
00:48:14,719 --> 00:48:16,320
Speaker 2: Garage of night. I don't know.

801
00:48:17,599 --> 00:48:20,880
Speaker 1: We'll pay one hundred dollars a month or two hundred

802
00:48:20,880 --> 00:48:23,400
dollars a month or whatever the right number is if

803
00:48:23,440 --> 00:48:28,880
you allow Tesla to do AI inference workloads when you're

804
00:48:28,920 --> 00:48:32,840
not using your car. So that will also helped the

805
00:48:32,880 --> 00:48:35,360
AI in the car not get bored, because I imagine

806
00:48:35,400 --> 00:48:38,960
what if I got stuck in a car and then well,

807
00:48:39,039 --> 00:48:41,480
and the highlight of your day was driving. But they

808
00:48:41,519 --> 00:48:43,000
don't always want to drive, so then what do you

809
00:48:43,039 --> 00:48:44,960
do with the rest of the time. So I think

810
00:48:45,000 --> 00:48:49,639
Tesla could actually end up having the largest might end

811
00:48:49,719 --> 00:48:53,000
up having the most amount of AI inference compute.

812
00:48:53,239 --> 00:48:55,360
Speaker 2: In the world. Like I think, like maybe if we.

813
00:48:55,400 --> 00:48:58,719
Speaker 1: Had one hundred million car fleet, and at some point

814
00:48:58,800 --> 00:49:00,719
we may have more than a hundred million call fleet,

815
00:49:01,239 --> 00:49:04,320
and they'll have AI six AI seven, And if you're

816
00:49:04,360 --> 00:49:07,599
able to run a kilowatt of inference on one hundred

817
00:49:07,760 --> 00:49:11,199
million car fleet, now you've got a one hundred gigawatts

818
00:49:11,199 --> 00:49:15,599
of distributed inference with built in cooling and power electronics

819
00:49:15,880 --> 00:49:19,280
and distributed power. Probably the market's valuing that at zero

820
00:49:19,320 --> 00:49:21,760
point zero right now, so I guess, but it seems

821
00:49:21,800 --> 00:49:25,480
like an obvious thing to do if you've got distributed

822
00:49:26,960 --> 00:49:30,119
inference AI and you've got the power and the cooling,

823
00:49:30,840 --> 00:49:32,719
which is very difficult to do the power in the cooling,

824
00:49:33,360 --> 00:49:36,480
and one hundred gigawatts is a lot the average I said.

825
00:49:36,480 --> 00:49:38,400
The average power consumption in the US I think is

826
00:49:38,440 --> 00:49:42,480
around four hundred and sixty gigawats within that's the entire

827
00:49:42,519 --> 00:49:45,639
electric consumption of the US. So the if you do

828
00:49:45,679 --> 00:49:48,239
it one hundred gigawatts, that'd be a pretty big number.

829
00:49:49,239 --> 00:49:53,679
But yeah, it's basically something as a limiting factor and

830
00:49:53,760 --> 00:49:56,920
then we take actions to address the limiting factor.

831
00:49:59,280 --> 00:50:01,480
Speaker 20: A quick follow up, Thank you for that very much.

832
00:50:01,519 --> 00:50:03,559
A request for you. So you guys just unveiled the

833
00:50:03,599 --> 00:50:04,239
cyber bear.

834
00:50:05,239 --> 00:50:07,199
Speaker 2: Oh yeah, we'd like to. It's beautiful.

835
00:50:07,360 --> 00:50:10,360
Speaker 20: We'd want you, guys or maybe do a cyber bull

836
00:50:10,639 --> 00:50:13,760
here in Giga Texas. My name is Herbert. I've got

837
00:50:13,760 --> 00:50:16,039
a brighter with Herbert channel on YouTube. And this is

838
00:50:16,079 --> 00:50:19,519
the Cyber Bulls. We are representing the Tesla Bulls and

839
00:50:19,559 --> 00:50:21,599
we stand with you, elon, but would it be cool

840
00:50:21,639 --> 00:50:24,519
to have a cyber bull right here in Texas?

841
00:50:24,559 --> 00:50:25,880
Speaker 1: Like a cyber longhorn.

842
00:50:26,519 --> 00:50:27,360
Speaker 20: Cyber longhorn.

843
00:50:27,360 --> 00:50:31,119
Speaker 1: All right, we'll do a cyber longhorn for the factory.

844
00:50:31,960 --> 00:50:38,039
Speaker 2: All right, good afternoon.

845
00:50:38,360 --> 00:50:41,679
Speaker 22: I'm I'm very excited to ask this question. I've dreamed

846
00:50:41,719 --> 00:50:44,199
of giving away a Tesla for a very long time,

847
00:50:44,960 --> 00:50:48,159
and I finally wore Evy Jack down enough that they're

848
00:50:48,159 --> 00:50:51,079
willing to flip the bill for it. But it turns

849
00:50:51,119 --> 00:50:54,119
out to give away a Tesla, I have to have

850
00:50:54,159 --> 00:50:57,960
your permission to say we're giving way a Tesla, so.

851
00:50:59,000 --> 00:50:59,679
Speaker 2: Just get away.

852
00:51:01,360 --> 00:51:03,400
Speaker 22: You don't have to do anything Tesla does that. We're

853
00:51:03,400 --> 00:51:05,480
going to go through the normal channels. We'll buy it

854
00:51:05,519 --> 00:51:07,960
from a store that stuff if you.

855
00:51:07,880 --> 00:51:13,079
Speaker 2: Can get totally cool. Yeah, yeah, that's certainly. You don't

856
00:51:13,079 --> 00:51:14,360
need my mission to give away a car.

857
00:51:16,159 --> 00:51:18,800
Speaker 1: We'll take like maybe a couple more questions and call

858
00:51:18,840 --> 00:51:19,199
it a night.

859
00:51:20,559 --> 00:51:24,639
Speaker 5: All right, Hilana, my name is Jonathan. You mentioned that

860
00:51:24,679 --> 00:51:27,039
the Roadster will have more tech than all the James

861
00:51:27,039 --> 00:51:30,719
Bond vehicles combined. Do you think this possible will be

862
00:51:30,800 --> 00:51:32,880
that any of that tech will make it into the

863
00:51:32,920 --> 00:51:40,639
current vehicle lineup? No, And to follow up on that,

864
00:51:40,719 --> 00:51:44,159
do you have any estimate of production or delivery timelines

865
00:51:44,239 --> 00:51:45,000
for the Roadster.

866
00:51:46,039 --> 00:51:50,159
Speaker 1: So we're aiming for the product unveiled and will be

867
00:51:50,599 --> 00:51:52,679
of the Roster to which will be very different from

868
00:51:52,679 --> 00:51:55,800
what we're shown previously. That demo event will be April

869
00:51:55,840 --> 00:52:00,599
first of next year. I have some deniably because like

870
00:52:01,599 --> 00:52:05,000
I could say, I was just kidding, but we are

871
00:52:05,039 --> 00:52:09,199
actually tentatively aiming for April first for what I think

872
00:52:09,239 --> 00:52:12,719
will be the most exciting whether it works or not,

873
00:52:13,159 --> 00:52:16,639
demo ever of any product. And then I guess production

874
00:52:16,800 --> 00:52:22,119
is probably about twelve to eighteen months after that, So

875
00:52:22,199 --> 00:52:26,800
I think production is probably a year or so after that. Oh,

876
00:52:27,000 --> 00:52:30,280
I can't give away the secrets, but you won't be disappointed.

877
00:52:31,800 --> 00:52:35,639
All right, take one last question? Hey, all right, three

878
00:52:35,800 --> 00:52:36,559
last questions?

879
00:52:41,079 --> 00:52:45,000
Speaker 2: Okay, hi Elan.

880
00:52:45,280 --> 00:52:48,599
Speaker 23: I'm really excited about this a future of sustainable abundance

881
00:52:48,719 --> 00:52:50,639
that we're talking about. You're going to be saving a

882
00:52:50,679 --> 00:52:53,039
lot of lives with FSD, but the number of lives

883
00:52:53,039 --> 00:52:56,000
that would be saved and improved with this future vision

884
00:52:56,000 --> 00:53:00,400
you have is really inspiring and very exciting. So even today,

885
00:53:00,480 --> 00:53:03,480
you've mentioned though that in a post scarcity world, the

886
00:53:03,559 --> 00:53:06,800
role of money could diminish or become obsolete, given that

887
00:53:06,920 --> 00:53:10,320
much of today's power, including yours, is tied to wealth.

888
00:53:10,760 --> 00:53:14,079
Do you think achieving this abundance would require powerful people

889
00:53:14,119 --> 00:53:17,920
to relinquish their power? And how might we address resistance

890
00:53:18,000 --> 00:53:21,000
from those who hold power to make this vision a reality?

891
00:53:22,239 --> 00:53:25,039
Speaker 1: I think actually, long term, the AI is going to

892
00:53:25,079 --> 00:53:28,039
be in charge, to be totally frank, not humans. If

893
00:53:28,199 --> 00:53:32,000
artificial intelligence vastly exceeds the summer human intelligence, it is

894
00:53:32,039 --> 00:53:34,679
difficult to mentionine that any humans will actually.

895
00:53:34,400 --> 00:53:39,239
Speaker 2: Be in charge. So we just need to make sure

896
00:53:39,280 --> 00:53:44,039
that as friendly. Yep, thank you? Is that the question

897
00:53:45,000 --> 00:53:46,840
go ahead? Sure? Yes?

898
00:53:47,400 --> 00:53:47,760
Speaker 18: Okay?

899
00:53:47,800 --> 00:53:52,119
Speaker 24: Sorry, el okay, okay, yeah, I'm cybercat on X and

900
00:53:52,320 --> 00:53:55,800
I'm doing YouTube and the content creator. There's one thing

901
00:53:55,960 --> 00:53:59,960
I always heard about Tesla owners or people who want

902
00:54:00,039 --> 00:54:04,960
to buy Tesla complain about that is about super expensive insurance,

903
00:54:05,480 --> 00:54:09,159
right and the thing is Tesla I know Tesla also

904
00:54:09,199 --> 00:54:12,719
do insurance. However, it's not a cover every place. Based

905
00:54:12,719 --> 00:54:16,039
on Boston, I don't have too much options. It's super expensive.

906
00:54:16,519 --> 00:54:20,400
And the other point is the FSD is very safe

907
00:54:20,519 --> 00:54:24,079
right now. I've been using FSD for about four years.

908
00:54:24,199 --> 00:54:28,639
Right it's getting to a point it's like almost unsupervised. However,

909
00:54:29,000 --> 00:54:32,599
the insurance still does not take this into consideration. They

910
00:54:32,599 --> 00:54:35,599
don't ask you whether you have FFD or not, and

911
00:54:35,760 --> 00:54:39,320
they don't know how much you travel with FSD, and

912
00:54:39,360 --> 00:54:42,880
that is not a part of the risk prediction kind

913
00:54:42,920 --> 00:54:46,280
of thing. So I feel like, what's your thought about

914
00:54:46,320 --> 00:54:49,559
the insurance going forward, especially when we're getting close to

915
00:54:49,599 --> 00:54:53,400
the autonomy. What is PAS like either using your own

916
00:54:53,679 --> 00:54:57,320
with the external partnership, for example, there's a company called Lemonade.

917
00:54:57,639 --> 00:54:59,880
Speaker 1: We need to not have the questions be super long.

918
00:55:00,079 --> 00:55:04,000
The Teslin insurance is trying to expand as as quickly

919
00:55:04,039 --> 00:55:07,000
as possible, but the regulatory structure for insurance is extremely

920
00:55:07,000 --> 00:55:10,559
complex and works on a state by state basis, so

921
00:55:10,599 --> 00:55:13,360
it's really somewhat of a racket, and the rules for

922
00:55:13,400 --> 00:55:15,559
insurance are different with every state.

923
00:55:15,719 --> 00:55:16,960
Speaker 2: It's a very complicated thing.

924
00:55:18,199 --> 00:55:22,039
Speaker 1: Yeah, so there's but I'm aware that insurance often is

925
00:55:22,079 --> 00:55:25,159
too expensive and doesn't take the right things into account.

926
00:55:25,800 --> 00:55:27,440
But so all I can say to that is, yeah,

927
00:55:27,440 --> 00:55:31,119
we'll keep expanding teslent insurance. When the car is operating

928
00:55:31,159 --> 00:55:34,360
as a cybercap Tesla will simply self insure, so that

929
00:55:34,480 --> 00:55:39,880
kind of solves that. But insurance is a yeah, a real.

930
00:55:39,760 --> 00:55:40,880
Speaker 2: Pain in the neck for sure.

931
00:55:41,239 --> 00:55:45,679
Speaker 1: But Okay, I do need to end this at some point.

932
00:55:46,519 --> 00:55:50,679
I'll take Yeah, one question, one question there.

933
00:55:50,559 --> 00:55:52,280
Speaker 21: All right, thanks thelan for taking my question.

934
00:55:52,320 --> 00:55:52,880
Speaker 2: I appreciate it.

935
00:55:52,960 --> 00:55:55,119
Speaker 21: My question has to do with compute and what the

936
00:55:55,360 --> 00:55:59,119
build out or how much is necessary to train optimists

937
00:55:59,119 --> 00:56:04,280
and actually get them to a very household meaningful robot

938
00:56:04,320 --> 00:56:07,400
that can do things, and if the partnership with x

939
00:56:07,480 --> 00:56:11,199
A with XAI would help accelerate that.

940
00:56:12,840 --> 00:56:16,039
Speaker 1: Yeah, there's there's a lot of training compute needed for Optimus,

941
00:56:16,719 --> 00:56:21,719
and because the AI tip in the robot is relatively weak,

942
00:56:21,760 --> 00:56:23,559
because it's really living in our power.

943
00:56:24,039 --> 00:56:25,719
Speaker 2: You can make up with that with a lot.

944
00:56:25,559 --> 00:56:28,199
Speaker 1: Of training to have a lot of training result in

945
00:56:29,159 --> 00:56:32,159
a very efficient AI that can run on a low

946
00:56:32,239 --> 00:56:36,079
power chip in the robot. So it is we will

947
00:56:36,119 --> 00:56:37,920
actually have to spend a lot of money on training.

948
00:56:38,000 --> 00:56:40,360
Ultimately it'll be like tens of billions of dollars on

949
00:56:40,440 --> 00:56:43,360
training compute, so it's a big number.

950
00:56:44,480 --> 00:56:47,440
Speaker 21: What a partnership with Xai help accelerate that?

951
00:56:48,239 --> 00:56:48,360
Speaker 2: Uh?

952
00:56:48,440 --> 00:56:51,280
Speaker 1: Yeah, I think potentially, Yeah, I think that that could. Yeah,

953
00:56:51,559 --> 00:56:53,199
there's potential for accelerating that.

954
00:56:54,719 --> 00:56:56,800
Speaker 2: Yeah. Did the Xai investment think get approved?

955
00:56:58,079 --> 00:56:58,159
Speaker 3: No?

956
00:56:58,360 --> 00:57:04,119
Speaker 2: Yes? Okay, okay, okay, okay, whatever. What it like?

957
00:57:04,159 --> 00:57:06,039
Speaker 1: It's Teesla and some other company that I have been

958
00:57:06,039 --> 00:57:09,440
interested in, and it's like always quite complicated to do

959
00:57:09,559 --> 00:57:12,800
things has to go through a lot of hoops to happen.

960
00:57:13,199 --> 00:57:15,800
But I do think there's a lot of potential collaboration

961
00:57:15,880 --> 00:57:18,360
with Xai in the future and with space x A.

962
00:57:18,480 --> 00:57:20,039
Speaker 20: Right, okay, this is the last one.

963
00:57:21,239 --> 00:57:25,480
Speaker 17: Yeah, sorry, Thank you so much, Captain elion x. I

964
00:57:25,519 --> 00:57:28,199
support you. Thanks so much for everything you do. Very

965
00:57:28,239 --> 00:57:31,719
simple question. I'm from Israel. I don't represent a lot

966
00:57:31,960 --> 00:57:35,440
of people, but people do ask me and I'm going

967
00:57:35,440 --> 00:57:37,519
to ask you, I need a chance to have the

968
00:57:37,639 --> 00:57:41,760
app in other languages, like Hebrew for example. Some people

969
00:57:41,880 --> 00:57:44,639
struggle with me. I mean even the app is the

970
00:57:44,639 --> 00:57:46,400
app itself, Yeah, just the app.

971
00:57:46,159 --> 00:57:48,960
Speaker 1: The app is not a Hebrew Oh and a lot

972
00:57:49,000 --> 00:57:52,559
of people don't speak English. Oh okay, shoot, I feel

973
00:57:52,559 --> 00:57:55,239
we had it in all languages. Okay, definitely the app

974
00:57:55,320 --> 00:57:59,880
needs to be in all languages, all right, all right,