Speaker 1: I'm going to say a bunch of things that probably
Speaker 1: I shouldn't say, but but that's what keeps it interesting.
Speaker 1: Have you watched any other annual shareholder meeting? Honestly, it's
Speaker 1: like if you need to go to sleep. Sure, I
Speaker 1: mean that other shareholder meetings are like snoozefest, but ours
Speaker 1: are bangers. Look, this is sick. Yeah, We're got like
Speaker 1: the cyberpunk nightclub here with real robots just standing there
Speaker 1: and milling around and dancing and round out our engineering
Speaker 1: headquarters in palab Alto. The robots just walking around the
Speaker 1: office twenty four to seven with no one minding them.
Speaker 1: They just and then they go charge themselves. And Yeah,
Speaker 1: the scale of Optimists, I like, I said, that's really
Speaker 1: gonna be something else. I think it's gonna be the
Speaker 1: biggest product of all time by far. Yeah, so bigger
Speaker 1: than cell phones, bigger than anything.
Speaker 2: I guess the way to think about it is that.
Speaker 1: Every human on earth is gonna want to have their
Speaker 1: own personal R two D two C three field, So
Speaker 1: who wouldn't. But actually, optimists will be even better than
Speaker 1: the like O R two D two would beep at
Speaker 1: you and hard to figure out what is good talking
Speaker 1: about three field to translate, but Optimist is gonna be.
Speaker 2: Like, everyone's gonna want one.
Speaker 1: I think in terms of industry providing products and services,
Speaker 1: I think it's probably I don't know, three to five
Speaker 1: robots in industry for everyone that's a personal robot. I
Speaker 1: think there could be tens of billions of Optimist robots
Speaker 1: out there now. Obviously it's very important we pay close
Speaker 1: attention to safety here because we do want the Star
Speaker 1: Wars movie, not.
Speaker 2: The Gim Cameron movie. I love Jim Cameron's movies.
Speaker 1: But yeah, yeah, So we're gonna launch on the fastest
Speaker 1: production ramp of any product, of any large complex manufacturer
Speaker 1: product ever and starting with building a million unit production
Speaker 1: line in Fremont, and that's Line one, and then a
Speaker 1: ten million unit per year production line here on the
Speaker 1: I don't know where we're gonna put one hundred million
Speaker 1: unit production line, maybe on Mars, I don't know, but
Speaker 1: I think it's gonna literally get to one hundred million
Speaker 1: a year, maybe even a billion a year. And if
Speaker 1: you can get to the five second cycle time. So
Speaker 1: it's a lot of cars. So these will be everywhere
Speaker 1: in the future. Oh, and wanted, We wanted to look futuristic,
Speaker 1: so like it changes the look of the roads.
Speaker 2: Now. The Yeah, the ingredients.
Speaker 1: When you look at what Optimists is, what's required to
Speaker 1: make Optimists and the various ingredients. What do you need
Speaker 1: to do to make to do high volume humanoid robot production.
Speaker 2: I think it's worth considering that.
Speaker 1: Really the cars we make are already robots, but there
Speaker 1: are four wheeled robots. So Tesla is already the biggest
Speaker 1: robot manufacturer in the world because every car we make
Speaker 1: is a robot.
Speaker 2: And when you break it down to the fundamental.
Speaker 1: Elements, you've got batteries, power electronics, motors, gearboxes, you've got connectivity,
Speaker 1: you've got a vision based AI high optimists and all
Speaker 1: the various pieces that you need for a humanoid robot.
Speaker 1: You need the AI chip, you need the AI software,
Speaker 1: you need to build manage a large fleet. And so
Speaker 1: really Optimus is a robot with arms and legs as
Speaker 1: opposed to a robot with wheels. Telsa's ideally suited I
Speaker 1: think to make to succeed in this arena, you will
Speaker 1: see certainly many companies showing demonstration robots. There's really three
Speaker 1: things that are super difficult about robots. One is the
Speaker 1: engineering of the forum in hand, because the human hand
Speaker 1: is an incredible thing. Actually, it's super dexterous engineering the
Speaker 1: hand really well, the real world AI, and then volume manufacturing.
Speaker 1: Those are generally the things that are missing one or
Speaker 1: more of those things missing from other companies. So Telsa
Speaker 1: is the only one that has all three of those.
Speaker 2: Yeah.
Speaker 1: Yes, So this is the Optimist kind of initial it's
Speaker 1: kind of a prototype production line.
Speaker 2: The high volume production line.
Speaker 1: Will be very automated, obviously, but this is really the
Speaker 1: production line that we use to make the prototypes. So
Speaker 1: you can get a sort of rough sense for what
Speaker 1: it takes to build the robot.
Speaker 2: You got to pull the finger.
Speaker 1: And then, as I've said before, I think once we
Speaker 1: reach about a million units per year of sustained production,
Speaker 1: or in excess of that, I think probably the cost
Speaker 1: of production is around twenty thousand dollars in curry your dollars,
Speaker 1: so this will be something very affordable. And yeah, like
Speaker 1: I said, I think Optimists will ultimately increase the size
Speaker 1: of the economy, probably by a factor of ten or
Speaker 1: or next year we start production with Optimist version three.
Speaker 1: This is what you're seeing here is Optimists version two
Speaker 1: point five. Optimist three is an incredibly good design. The
Speaker 1: tales the engineering team is amazing. When you see Optimists three, Yeah,
Speaker 1: it will seem as though that there's someone like a
Speaker 1: person in a robot outfit, which is how we started
Speaker 1: with Optimists.
Speaker 2: It really is going to be something special.
Speaker 1: And then Optimist Optimus four that hopefully starts production in
Speaker 1: twenty seven, and then Optimus five and twenty eight, so
Speaker 1: it's like an annual release cycle with significant improvements with
Speaker 1: each one and gigantic increases in the scale of production. Yeah,
Speaker 1: sustainable abundance via AI in robotics, that's the future. Credible
Speaker 1: and as I think most people here know, the safety
Speaker 1: statistics show that miles driven on FSD are much safer
Speaker 1: than miles driven without it. What this will translate to
Speaker 1: ultimately is saving the lives of millions of people and
Speaker 1: preventing hundreds of millions of accidents.
Speaker 2: So a massive.
Speaker 1: Increase in lives solved and tragedy is avoided.
Speaker 2: It's going to be amazing.
Speaker 1: How many people here have tried fourteen point one? Okay,
Speaker 1: all right, cool, Yeah, you can see the even with
Speaker 1: the point releases, it's getting quite a bit better. Should
Speaker 1: be pretty smooth at this point, but really fourteen point
Speaker 1: two is there are major changes to fourteen point two
Speaker 1: and then fourteen point three, and I think by fourteen
Speaker 1: point three is when we'll really be at the point
Speaker 1: where you can just pretty much pull asleep and wake
Speaker 1: up at your destination. And then I've been putting a
Speaker 1: lot of time into the new Tesla chip design because
Speaker 1: in order to have a functional robot, you have to
Speaker 1: have a great AI chip, and it needs to be
Speaker 1: an inexpensive chip, and it needs to be very power efficient.
Speaker 1: So we believe the AI five chip will be probably
Speaker 1: about a third of the power of say something like
Speaker 1: a Blackwell and a video Blackwell, which is a great
Speaker 1: chip for roughly a comparable performance and much less than
Speaker 1: ten pescent of the cost. So this is a chip
Speaker 1: that is very much optimized for the Tesla AI software stack.
Speaker 1: So it's not meant to be a general purpose chip.
Speaker 1: It's meant to be an amazing chip for the Tesla
Speaker 1: AI software And a couple of things that I think
Speaker 1: make like how E Tailless are able to achieve such
Speaker 1: an improvement. I think it is because because we are specialized,
Speaker 1: we're not trying to Nvidia has to serve the superset
Speaker 1: of all past and future customers, so all of their requirements,
Speaker 1: all of the software that they're written, has to work,
Speaker 1: which is a very difficult problem, whereas we just need
Speaker 1: to make it work for our software, and so we're
Speaker 1: able to simplify the chip dramatically. And then we also think,
Speaker 1: I think we're unique in this, but we have an
Speaker 1: integer based system, and integer operations are fundamentally more efficient
Speaker 1: than floating point operations, so we can do floating point
Speaker 1: but we but the vast majority of our inference is
Speaker 1: done in integer, which is, if you're familiar with sort
Speaker 1: of logic gates like the simplicity of integer, and it's
Speaker 1: integer is much more power eficient and much more silicon efficient.
Speaker 1: But you have to you actually have to train for
Speaker 1: integer inference, which everyone else is training for flooding point.
Speaker 1: It's like a niche technical detail, but it's actually very important.
Speaker 2: This is going to be a great chip.
Speaker 1: So this chip will be made in basically in four places, TISMC, Taiwan,
Speaker 1: Samsung Career, TSMC Arizona, and TSOMC Texas.
Speaker 2: And we already know what improvements to make for AI six.
Speaker 1: So I'm hopeful that we can within less than the
Speaker 1: year of AI five starting production, we can actually transition
Speaker 1: in the same fab to AI six and double all
Speaker 1: of the performance metrics. I'm super hardcore on chips right now,
Speaker 1: as you may be able to tell chips on the brain,
Speaker 1: I dream about chips literally. I can drow the at
Speaker 1: least the broad rush stroke physical design of the A
Speaker 1: I five chip by well by heart.
Speaker 2: At this point, it's a good chip. It's good chips, sir,
Speaker 2: So this is really key. Now.
Speaker 1: One of the things I'm trying to figure out is
Speaker 1: how do we make enough chips. I have a lot
Speaker 1: of respect for our the Tesla partners, TSMC and Samsung. Yeah,
Speaker 1: maybe we'll do something with Intel. We haven't signed any deal,
Speaker 1: but it's probably worth having discussions with Intel. But even
Speaker 1: when we extrapolate the best case scenario for chip production
Speaker 1: from our suppliers, it's still not enough. So I think
Speaker 1: we may have to do a Tesla Terra fab. It's
Speaker 1: like Gigabit way bigger. I can't see any other way
Speaker 1: to get to the volume of chips that that we're
Speaker 1: looking for, So I think we're probably gonna have to
Speaker 1: build a gigantic chip fab Yeah, gotta be done. So anyway,
Speaker 1: some of this stuff I've already talked about. Yep, we've
Speaker 1: done a tremendous amount for sustainable energy and that is
Speaker 1: only going to grow over time. The world is moving
Speaker 1: towards a solar battery economy, which is ultimately the that's
Speaker 1: it's where, that's where it's going to go anyway. But
Speaker 1: what tells us do is accelerate, accelerate that outcome. Sometimes
Speaker 1: people don't understand quite how much energy comes from the Sun.
Speaker 1: So the Sun is ninety nine point eight percent of
Speaker 1: all mass in the solar system being zero point one percent,
Speaker 1: and then zero point one percent is miscellaneous, Earth being
Speaker 1: in the miscellaneous category. So the total amount of energy.
Speaker 1: So some nice people, what say, will build the fusion
Speaker 1: reactors on Earth, it's actually the giant fusion reactor in
Speaker 1: the sky is basically impossible to beat to such agree
Speaker 1: that even if you could burn Jupiter in a thermon
Speaker 1: nuclear reactor, the amount of energy produced by the Sun
Speaker 1: would still round up to one hundred percent. That's how
Speaker 1: much energy the Sun produces. So solar power is necessarily
Speaker 1: the future, and I think there's going to be a
Speaker 1: lot of solar powered AI satellites, and I think Tells
Speaker 1: is going to play a role in that. We've obviously
Speaker 1: refreshed the product line so S three x Y. If
Speaker 1: if people haven't tried the well S three x or
Speaker 1: Y or the Cybertry, I recommend at least getting a
Speaker 1: test drive or a test ride as the case may be,
Speaker 1: try out the full self driving and I think you'll
Speaker 1: be blown away to those who do not. If you
Speaker 1: might be listening and don't have a Tesla, you should
Speaker 1: try one. And of course we've got the cyber Truck,
Speaker 1: which is the toughest truck of all time. It's literally bulletproof,
Speaker 1: faster than a Portion nine eleven and can out toe
Speaker 1: at Ford F three fifty.
Speaker 2: So it's a great car, great truck.
Speaker 1: And then starting next year, we manufacture the Tesla Semi.
Speaker 1: So this is already we already have a lot of
Speaker 1: prototype Tesla Semis in operation. PepsiCo and other companies have
Speaker 1: been using the a Tesla Semi for quite some time.
Speaker 1: But we will start volume production at our Northern Nevada
Speaker 1: factory in twenty twenty six. So we've got two big
Speaker 1: products or three three massive products starting production next year,
Speaker 1: we've got optimists, we've got Tesla Semi, and we've got
Speaker 1: the cybercap.
Speaker 2: And then battery packs. So the if you look at total.
Speaker 1: US power generation capability, it's roughly a tero WAT, but
Speaker 1: the average power usage is less than half a tarrawatt,
Speaker 1: and that's because there are big differences in power usage
Speaker 1: between day and night. So daily and seasonal variations in
Speaker 1: power consumption mean that the United States and really every
Speaker 1: country is only using about half It is only producing
Speaker 1: about half as much electrical energy as it could because
Speaker 1: without batteries, there's no effective way to buffer the energy.
Speaker 1: So what batteries actually enable is even if you don't
Speaker 1: build any incremental power plants, you could double the energy
Speaker 1: output of the United States just with batteries.
Speaker 2: This is a super.
Speaker 1: Big deal, and in fact, I think that's really where
Speaker 1: most of the incremental energy production in the United States
Speaker 1: is going to come from.
Speaker 2: It's literally batteries, so a.
Speaker 1: Bigger deal than it may seem. And then we've got
Speaker 1: we keep improving the battery design, so the megablock, which
Speaker 1: makes it really easy to deploy battery utility scale batteries.
Speaker 2: So we've just simplified and.
Speaker 1: Brought more of the components to be internal to the batteries,
Speaker 1: so you can just show up and drop off a
Speaker 1: battery and it works, and then hopefully without hopefully over
Speaker 1: time we will actually add more and more of the
Speaker 1: power electronics so that megapac will actually be able to
Speaker 1: output up to thirty five killer volts directly, so you
Speaker 1: won't need to up station.
Speaker 2: That's what I'm saying. You can just.
Speaker 1: Literally drop it off, like the way that a power wall.
Speaker 1: You just connect it to the house. The utility wires
Speaker 1: go on one side and the other side goes to
Speaker 1: the house mains and that's it. So we want to
Speaker 1: get megapacked to the point where you just literally take
Speaker 1: the utility wires and you plug them in and it
Speaker 1: just works. Then we've got We've also built the world's
Speaker 1: largest supercharger network, so we do a lot of things
Speaker 1: here at Tesla. That's the biggest supercharger network in the
Speaker 1: world by far, and ultimately you'll be able to go
Speaker 1: anywhere on Earth using a Tesla supercharger. And it's pretty
Speaker 1: close to anywhere on Earth, but it's it's going to
Speaker 1: be ultimately just anywhere.
Speaker 2: It'll just work anywhere.
Speaker 1: The supercharger team has done great work expanding that and
Speaker 1: improving the efficiency of the supercharger network, and in North
Speaker 1: America they did such a good job that the other
Speaker 1: car companies basically said that they'll just use the Tesla
Speaker 1: supercharge network.
Speaker 2: Okay, sounds good to us.
Speaker 1: It's always important to have it a slant on safety
Speaker 1: in the factory, so we continue to improve safety.
Speaker 2: For our factory workers.
Speaker 1: We care a lot about their well being, and like
Speaker 1: one way you can just tell if a company is
Speaker 1: a good company or not if you just walk through the.
Speaker 2: Factory or walk through the office and.
Speaker 1: Catch the vibe, and the vibe in the tails of
Speaker 1: factory is good. People are happy, and that's how you
Speaker 1: know it's a good company. We've also put a lot
Speaker 1: of investment into raw materials. We've built in South Texas
Speaker 1: and Corpus Christy the biggest lithium refinery outside of China,
Speaker 1: I believe. So it's going to it's starting off up
Speaker 1: with fifty gig what hours of lithium and we'll expand
Speaker 1: from there. So this is a very important to have
Speaker 1: in a worst case scenario, that we have the ingredients
Speaker 1: necessary to make a battery very important. And then we've
Speaker 1: got here on this site, the Cathode factory, which is
Speaker 1: just the sort of giant building about a half mile
Speaker 1: that way, and we're just making sure that we promised
Speaker 1: supply chain standpoint are resilient against any potential geopltical challenges.
Speaker 1: And then also at this factory we also make the
Speaker 1: forty six eighty cell, which is getting better and better,
Speaker 1: and that forty six eighty cell will be used in
Speaker 1: the cybercab cyber It is being used in the cyber truck,
Speaker 1: and we'll be used in the cybercab and also an optimus.
Speaker 1: So that's going well. But we continue obviously to get
Speaker 1: cells from many suppliers. It's kind of like the chip
Speaker 1: bad thing. Will take as many chips as our suppliers
Speaker 1: can provide us, but then beyond that, if they can
Speaker 1: provide us with any incremental cells or chips we have
Speaker 1: making ourselves or we get stuck. That's the Tesla semi factory.
Speaker 1: It's going to be pretty cool to see these going
Speaker 1: down the road and scale.
Speaker 2: Yeah.
Speaker 1: So that's the basic plan, sustainable abundance for all.
Speaker 2: All right, So.
Speaker 1: Yeah, I guess we can go into Queen now, maybe
Speaker 1: at the next annual shoulder meeting. We'll have optimists takes
Speaker 1: some of the questions. That'd be cool. So let's see Alejohn,
Speaker 1: thank you for your help.
Speaker 3: By the way, Yeah, please go ahead, is it?
Speaker 4: No, let me hold it.
Speaker 1: It's okay.
Speaker 5: What a year has been?
Speaker 1: Right?
Speaker 4: Just a year ago President Trump got elected on the
Speaker 4: same day. These twelve months have been a heck of
Speaker 4: twelve months. Thank you to the board because I think
Speaker 4: they had to weather quite some storms. Institutional investors, and
Speaker 4: obviously thank you to you, and we stand with you.
Speaker 4: I think we showed it and we will show.
Speaker 2: It at.
Speaker 4: So we would like to express a wish please. This
Speaker 4: is a nice venue. We love coming to the factory
Speaker 4: and I think it's actually great we're doing this at
Speaker 4: the factory. But there are thousands of retail investors who
Speaker 4: are crying because they cannot they come to me. I
Speaker 4: love taking the Mama, but I now give it to you.
Speaker 4: Please organize a bigger venue, a bigger than Berkshire, and
Speaker 4: we will do better than Berkshire.
Speaker 1: Okay, sure we can pay. Yeah, see, Tessa will be
Speaker 1: very bigger than Berkshire. Long term, it's gonna be naughty,
Speaker 1: all right. We'll do the next one were able in
Speaker 1: the yeah, like the yeah, maybe they're downtown arena or
Speaker 1: the soccer stadium or something like that, and get your
Speaker 1: security check.
Speaker 4: We want to make sure that you're safe.
Speaker 2: What if I just we.
Speaker 4: But we want to party. And if you can bring
Speaker 4: the other Elon companies there as well, let's just.
Speaker 1: Would really appreciate.
Speaker 2: All right, So that's good.
Speaker 4: Thank you very much for listening to.
Speaker 2: Elon as a father.
Speaker 6: I just want to first thank you for the everything
Speaker 6: you're doing in the world, especially freedom of speech.
Speaker 2: Thank you.
Speaker 6: And one question. Will you a Tesla ever consider FSD
Speaker 6: tied to an owner's account rather than a vehicle to
Speaker 6: encourage more frequent upgrades, provided a transfer is to only
Speaker 6: a brain new Tesla vehicle, while flustering brand loyalty. If
Speaker 6: the vehicle has sold the trade of about upgrade to
Speaker 6: another Tesla f S, the ownership would end.
Speaker 1: We have done that a few times. I guess we
Speaker 1: could extend it again. All right, we'll extend it. We'll
Speaker 1: extend it for at least another quarter and then play
Speaker 1: it by a year after that.
Speaker 7: All right, howdy Elon, congrats on not having to show
Speaker 7: up to work for free anymore.
Speaker 8: Yeah, we now have over a forty billion dollar war chest.
Speaker 7: We're cash flow positive and remain that. We know how
Speaker 7: you feel about FIAT already.
Speaker 2: Is it time to take a look at bitcoin?
Speaker 7: What's your belief on that? Also, you've hinted towards that
Speaker 7: there's a wheelchair accessible model in the works where you're
Speaker 7: referring to the Reboven, and if so, can we please
Speaker 7: speed up production to help the least fortunate.
Speaker 2: Sure?
Speaker 1: Yeah, obviously we need a vehicle that's big enough to
Speaker 1: fit a wheelchair wheelchair accessible.
Speaker 2: So I think that.
Speaker 1: That is the Reboven or Robust or whatever we call it.
Speaker 1: It's not like we're slowing down because we want to
Speaker 1: slow down. It's like we're spending in like gazillion plates here.
Speaker 1: But I do think it would be very cool because
Speaker 1: I think esthetically as well, it's just it's just would
Speaker 1: change the look of the roads and make it feel
Speaker 1: like the future.
Speaker 2: So it won't be long before we.
Speaker 1: Make that, but it's but since we do have optimists,
Speaker 1: the we've got cybercaf optimists and semi all next year
Speaker 1: it will probably have to be maybe the year that,
Speaker 1: you know, a couple of years from now or something
Speaker 1: like that. But we certainly will make a wheelchair accessible vehicle.
Speaker 9: Thanks Hi, so she I was privileged enough to attend
Speaker 9: the investor day, And you've also talked about the factory
Speaker 9: being a product, and I saw the dry cathode method
Speaker 9: and so forth, and I wanted to know the progress
Speaker 9: in that and also would often be working on that
Speaker 9: in the future production line in the future.
Speaker 1: Yeah, I guess the dry cathode man that's turned out
Speaker 1: to be a lot harder than we thought.
Speaker 2: It does. Looked like it's going to be successful and it.
Speaker 1: Will have some cost advantage relative to wet cathode. But
Speaker 1: if had to wind the clock back, I would probably
Speaker 1: have gone with wet cathode instead of dry cathode because
Speaker 1: it just turned out to be a lot harder to
Speaker 1: make it capable of high buluing production with super higher liability. Yeah,
Speaker 1: but we will be we will be scaling up battery
Speaker 1: cell production at Tesla and looking for cell production from
Speaker 1: ou suppliers as well, because we're going to be ramping
Speaker 1: up production very dramatically at Tesla now that we believe
Speaker 1: we have full self dropping, that we have autonomy solved,
Speaker 1: or at least or within a few months of having
Speaker 1: it unsupvised autonomy solved at a reliability level significantly better
Speaker 1: than human It's not that means it's time to ramp
Speaker 1: up production because the value proposition is.
Speaker 2: Now much greater than a regular car.
Speaker 1: The killer app really is for people, can you text
Speaker 1: and drive or can you sleep and drive? Can you
Speaker 1: can the car take you to your destination? Or do
Speaker 1: you need to pay attention and be and.
Speaker 2: Have to drive it?
Speaker 1: And before we allow the car to be driven without
Speaker 1: paying attention, we need to make sure it's very safe.
Speaker 2: But like I said, we're on the cusp of that.
Speaker 1: I know said that a few times, but we really
Speaker 1: are at this point and you can feel it for
Speaker 1: yourselves with the fourteen point one release. So the what
Speaker 1: we're going to try to we're going to push to
Speaker 1: expand vehicle production as fast as we possibly can. So
Speaker 1: aspirationally would aim to increase vehicle production by about fifty
Speaker 1: percent by the end of next year. So yeah, so
Speaker 1: that's it's very hard to increased production, but that's roughly
Speaker 1: I don't know, maybe we get I'm just guessing at
Speaker 1: an exit rate by the Internet year of around two
Speaker 1: point six two point seven million vehicles annualized production and
Speaker 1: then aim to get to maybe four million by the
Speaker 1: annualized rate by the end of twenty seven, and then
Speaker 1: maybe five million by the end of twenty eight. Those
Speaker 1: are rough those are our aspirational goals. So these are
Speaker 1: This is a gigantic increase in output, which means that
Speaker 1: the entire supply chain has to move in unison with
Speaker 1: that with that increase in volume, and the nature of
Speaker 1: producing a large, complex product is that it moves as
Speaker 1: fast as the least lucky, dumbest element in the entire system.
Speaker 1: And there's ten thousand plus items. But this, like I said,
Speaker 1: this really is a new It's not just a new
Speaker 1: chapter for Teesla. It's a new book, and that new
Speaker 1: book is massively increasing vehicle production and ramping up OPTIMS
Speaker 1: production faster than any things ever been wrapped up before
Speaker 1: in history.
Speaker 2: Awesome, Elon, thank you, Thank you from all of us.
Speaker 10: The retail shareholders really care and so echo the sentiment
Speaker 10: of a larger venue work can come as a testament
Speaker 10: to that. I was here, I was fortunate enough to
Speaker 10: be her last year and since then touring the factory
Speaker 10: talking to people that work here. I'm just a retail shareholder,
Speaker 10: but increase my holdings twelve times, So I know it's
Speaker 10: really engaging and gives people confidence, and so thank you
Speaker 10: for having us, and I do echo that I hope
Speaker 10: it grows. Last year, I'm the one that asked you
Speaker 10: about your well being and safety.
Speaker 2: Oh yeah, full life.
Speaker 10: It was a broad general question and it was before
Speaker 10: some of the uncertainty that's unfolded since then. And yes,
Speaker 10: I hope that had a positive impact and we all care.
Speaker 2: And so my question this year.
Speaker 10: You've talked recently about the most mind blowing product demo
Speaker 10: of all time and a shot at being the most
Speaker 10: memorable product.
Speaker 2: Oh yeah ever roadster. Yeah yeah.
Speaker 10: And I have patiently been waiting on my Founder's series
Speaker 10: Roaster Reservation on behalf of the Founder Series. Guys that
Speaker 10: have stuck in there, can we be unvited to this unveil?
Speaker 2: Oh yeah, sure, absolutely definitely.
Speaker 10: Okay, yes, all Founders series can be in.
Speaker 1: Yes, it's the least we could do, frankly for people
Speaker 1: that have along suffering Roaster Reservation holders. The I I
Speaker 1: feel confident in saying it will be the most exciting
Speaker 1: product on bail ever, and I hope that whether it
Speaker 1: goes well or it doesn't go well.
Speaker 10: Some them up here. Can I get the first one?
Speaker 1: I guess the it's according to who whoever put down
Speaker 1: the deposits in that sequence, So that's the but you'll
Speaker 1: get a very early one.
Speaker 2: And the new.
Speaker 1: Roaster is very much like it's not even the icing
Speaker 1: on the cake, it's the cherry on the icing on
Speaker 1: the cake. It's really it's not essential for sustainable abundance.
Speaker 2: Put it that way.
Speaker 1: But I do think there should be very cool technology
Speaker 1: in the world that is, let's wave beyond anything that's
Speaker 1: ever existed. And I think I'd like those even if
Speaker 1: I could never have access to those things, I'd like
Speaker 1: to know that they exist and see the future happening.
Speaker 1: So I think it will be inspiring to a lot
Speaker 1: of people. And just it's extreme.
Speaker 2: It's like.
Speaker 1: The coolest car if it even is a car that
Speaker 1: is ever that will probably ever exist. Yeah, Eilon, congrats
Speaker 1: on the proposal plan.
Speaker 2: That was amazing. The compensation question.
Speaker 1: Back to Chick, the chips will be the limiting factor
Speaker 1: to the future, so on chips and electricity are the
Speaker 1: two limiting factors.
Speaker 2: Yeah, and we got the.
Speaker 11: Energy and power and energy packs ready to roll. So
Speaker 11: I think on the chips. I think you said TSMC, Samsung,
Speaker 11: perhaps Intel fourteen A and several different sites are a
Speaker 11: couple of US factory sources, which.
Speaker 2: Is we're like everyone every day. Yeah yeah, And.
Speaker 11: So I guess the is there an open door in
Speaker 11: the future of investing directly into some of those boundaries.
Speaker 11: And second question, how big is a terraff factory? Can
Speaker 11: you put that in scale? And oh yeah, yeah, that's
Speaker 11: TERROR factory.
Speaker 2: Yeah.
Speaker 1: The thing is that we actually have agreed to buy
Speaker 1: all the chips that are made from the FAB, so
Speaker 1: it's basically a money printing machine for TSMC and Samsung.
Speaker 1: It's like literally the fast you make the trips are faster,
Speaker 1: we sent them money, but it's still not going at
Speaker 1: just fast enough. So that's why I think, as far
Speaker 1: as I can see, the only option is to go
Speaker 1: boild some very big chip bab and then you've got
Speaker 1: to solve memory and packaging too. But otherwise you just
Speaker 1: tap out at whatever the chip production rate is. And
Speaker 1: so I guess TERROR would be you'd want to say,
Speaker 1: it's got to be at least one hundred thousand way
Speaker 1: for starts per month size fab and maybe that would
Speaker 1: be one of ten in a complex. So will ultimately
Speaker 1: be a million wafers starts per month? Yeah, exactly. You
Speaker 1: can tell when it gets the giggle factor. That's probably
Speaker 1: a good sign that we're onto something special. But I
Speaker 1: wouldn't be surprised for long term, it's like a million
Speaker 1: wafers a month.
Speaker 2: Yeah.
Speaker 12: Hi, I'm a long term investor, so I've been holding
Speaker 12: the shares for twelve years. I worked at the Autopilot
Speaker 12: team development for ten years, and I brought my dad
Speaker 12: here from Brazil. We actually won the testlevision contest with
Speaker 12: the cyber truck b VideA. I hope you got to
Speaker 12: see that at some point. So thanks for the free mode.
Speaker 12: The why, and then my question is about obviously market expansion,
Speaker 12: but not only South America, Brazil, but also into Mars.
Speaker 12: Like with the upcoming rendezvous of Mars and Earth, what's
Speaker 12: going to be in a pillow where we're going to send.
Speaker 1: There, Optimist is going to play a big role Optimists,
Speaker 1: and I think tells the vehicles will play a big.
Speaker 2: Role on the Moon and Mars.
Speaker 1: So for a Moon base and a Mars city, tells
Speaker 1: the vehicles and Optimus robots are natural fit for building
Speaker 1: and operating a Moon base and a Mars city.
Speaker 2: So sorry tyber truck. Also yeah, yeah, it's cyber truck.
Speaker 1: You will need to drive around and pressurized vehicle if
Speaker 1: there's a person inside. But yeah, it'll be something cool
Speaker 1: the next level Moon buggy or my Mars buggy.
Speaker 13: All right, Hi, mister musk GOREV been a fan of
Speaker 13: yours since two thousand and six. I think I saw
Speaker 13: a piece in a popular science magazine. It was really cool,
Speaker 13: and I think I was fifteen at the time. Shareholders.
Speaker 13: Since ten years now, it's been really rewarding. It's changed
Speaker 13: my life, So thank you very much to you and Tesla.
Speaker 13: My question is regarding Tesla's mission for a sustainable future
Speaker 13: as it pertains to autonomy. I personally fully expect a
Speaker 13: deflationary period after unlocked by autonomy, basically both in moving
Speaker 13: humans and goods and whatnot, excluding Optimus even yeah, what
Speaker 13: efforts are is Tesla going to focus on to reduce
Speaker 13: the dollars per mile rough math? I think like thirty
Speaker 13: cents a mile would be really nice. Fifty cents is
Speaker 13: pretty good too, looking at inflation later on, and then
Speaker 13: I guess the second part of that, how low does
Speaker 13: it have to be for people to just stop buying
Speaker 13: cars like where it doesn't make economic sense to do that.
Speaker 13: I expect that to affect economies of scale and then
Speaker 13: further increase the pricing of vehicles they're on out. So like,
Speaker 13: how what is that node at which inflection happens.
Speaker 2: In terms of cost per mile?
Speaker 1: We do see a path with a lot of work
Speaker 1: to get below twenty cents a mile in current ear dollars,
Speaker 1: and I someone agree that there's things will probably be
Speaker 1: deflationary as productivity increases. Because you can think of money
Speaker 1: supply as being the ratio of goods and services to
Speaker 1: what's the growth in goods and services versus the growth in.
Speaker 2: The money supply.
Speaker 1: That ratio is basically inflation, and so if the output
Speaker 1: of goods and services grows faster than the money supply,
Speaker 1: then you necessarily have deflation or vice versa. They try
Speaker 1: to make it sound complicated, but it's not. I'm not
Speaker 1: sure that even government overspending can actually I think government
Speaker 1: overspending will not be will be lower than the increase
Speaker 1: in productivity of goods and services, which would apply to
Speaker 1: deflation as you expect.
Speaker 13: Sorry, what about economies of scale? And be impacted. Has
Speaker 13: to how you respond as an automotive company when people
Speaker 13: stop potentially buying cars.
Speaker 2: Economies, sorry, economies of scale in.
Speaker 13: Like auto manufacturering for instance, it only makes sense if
Speaker 13: lots of people buy your vehicles.
Speaker 2: Oh, the total number of vehicles will decrease.
Speaker 1: This sort of vehicle fleet out there is about two
Speaker 1: billion of cars, but to two billion if you add
Speaker 1: up old corson trucks that are not at a scrap yard.
Speaker 1: I think it's around two billion, but that number would
Speaker 1: decrease with autonomous vehicles, so the total fleet size would drop.
Speaker 1: I actually think miles driven will increase because it's now
Speaker 1: much less painful to travel somewhere. So if somebody's thinking
Speaker 1: about traveling across the busy city, then they'll take into
Speaker 1: account how much pain do I have to deal with
Speaker 1: If I have to do it through two hours of traffic,
Speaker 1: I probably won't won't do it. But if you're just
Speaker 1: say sitting in a cybercab watching a movie or doing
Speaker 1: some work, then it's just like sitting in a little lounge,
Speaker 1: And so I think you'll see probably a significant increase
Speaker 1: in total miles driven. But at the same time, a
Speaker 1: decrease in the total active fleet of vehicles.
Speaker 14: I'd just like to reiterate how grateful we all are
Speaker 14: to have you on board, ready to lead us to
Speaker 14: another seven trillion in market cap at.
Speaker 2: Least at least obviously thank you.
Speaker 14: My question is how much of a concern is it
Speaker 14: that when Cybercabs starts production in Q two next year,
Speaker 14: that regulation won't be there yet to where you can
Speaker 14: deploy cybercabs being produced. Or are you guys confident that
Speaker 14: every cybercab you guys make you'll be able to deploy.
Speaker 2: Yeah.
Speaker 1: I think the rate at which we'll we receive regulatory
Speaker 1: approval will roughly match the rate of cybercab production. It'll
Speaker 1: be maybe a little tight, but that's it's about right.
Speaker 1: And i'd like to thank Way more for paving the
Speaker 1: path here. It's very helpful. Yeah, but I think we'll
Speaker 1: be able to deploy all the cyberclbs that we produce.
Speaker 2: And the other thing is, once it becomes like extremely
Speaker 2: normal in cities, it's.
Speaker 1: Just going to become like the regulators will have just
Speaker 1: fewer and fewer reasons to say no.
Speaker 2: And then you've got this, You've got the.
Speaker 1: Accident statistics at scale, and you can show that what
Speaker 1: autonomous miles save lives then, and you've got unequivocal billions
Speaker 1: of miles to prove it, then I think it's hard
Speaker 1: for regulators to say no. Yeah, true. All right.
Speaker 15: First of all, Leland, thank you so much for everything
Speaker 15: you do for the Tesla shareholders. Do you see a
Speaker 15: path for optimists to have consciousness downloaded to it?
Speaker 1: You mean human consciousness or yeah, it's not immediate, but
Speaker 1: if you say it down the road, would you be
Speaker 1: able to say, with a neural link, have a snapshot
Speaker 1: of what is an approximate snapshot of somebody's mind and
Speaker 1: then upload that approximate snapshot to optimus body. I think
Speaker 1: that at some point that technology becomes possible, and it's
Speaker 1: probably less than twenty years. Yeah, but of course you
Speaker 1: won't quite be the same, be a little different because
Speaker 1: you'll be in a robot body and the mental snapshot
Speaker 1: will not be precise. It'll be a probably pretty close,
Speaker 1: but not exactly the same. On the other hand, are
Speaker 1: you the same person that you were five years ago? Nope,
Speaker 1: A lot of things have changed. Yeah, but I guess
Speaker 1: at some point, if you want to be uploaded to
Speaker 1: a robot body. My guess is that becomes possible.
Speaker 16: Yeah, hi, elon space based data center is a great idea,
Speaker 16: and I agree with that.
Speaker 2: Yeah.
Speaker 16: I was curious on your views on space based solar power,
Speaker 16: the idea of beaming down microwave energy down to Earth
Speaker 16: so that you can just point it to where it
Speaker 16: needs to go without transmission, without distribution lines, and it's
Speaker 16: more energy dense, so you know, less band use. Just
Speaker 16: curious on your views.
Speaker 1: Space solar power until the advent of something like Starship,
Speaker 1: where the cost per ton to orbit drops by orders
Speaker 1: of magnitude. The cost of getting Pale to orbit is
Speaker 1: so high that there was no possibility of space solar
Speaker 1: power solving anything.
Speaker 2: Really.
Speaker 1: Now with Starship, like I see a path to Starship
Speaker 1: cost per ton to orbit being.
Speaker 2: Lower than air flight.
Speaker 1: If you were to fly to a long distance airflight
Speaker 1: with cargirls, they took seven forty seven from here to Sydney,
Speaker 1: Australia or something like that.
Speaker 2: I think I think ultimately Starship.
Speaker 1: Will be able to do that trip for less cost
Speaker 1: per ton than an aircraft. So then you so now
Speaker 1: that now you've got that opens up a what very
Speaker 1: wide range of possibilities, like the most obvious one I
Speaker 1: think is actually solar powered AI satellites, So to move
Speaker 1: the AI to orbit and essentially deep space over time,
Speaker 1: because the you can actually access over a billion times
Speaker 1: more energy from the Sun in deep space than you
Speaker 1: can on Earth. The scaling to scale to crterships any
Speaker 1: to make any progress on a crdoship two scale, which
Speaker 1: is using some non trivial amount of energy from the Sun.
Speaker 2: You have to do space solar power.
Speaker 1: Now you could only beam a tiny amount of that
Speaker 1: back to Earth or you would melt Earth.
Speaker 2: So Earth actually receives a very.
Speaker 1: Tiny amount of the Sun's energy, where Earth is a tiny.
Speaker 2: Dust mote you see, like Earth to.
Speaker 1: Scale with the Sun, we look like a little crumb.
Speaker 2: So the to scale civilization.
Speaker 1: Like said to be at all relevant on a cordship
Speaker 1: of two scale, like to even use a millionth of
Speaker 1: a percent of the Sun's energy, you really have to
Speaker 1: be have your soul power in deep space and you
Speaker 1: could be in some of that back to Earth too,
Speaker 1: but you can only be a tiny bit of it
Speaker 1: back or you'd melt Earth.
Speaker 17: And this will be our last question.
Speaker 2: Well do okay, we'll do a few more we'll do
Speaker 2: a few more. Sorry, I'm sorry, all right, Elan. Look
Speaker 2: around you.
Speaker 18: This is a very small sample of Tesla soldiers. Maybe
Speaker 18: actually I should say, elin Musk soldiers.
Speaker 1: Thank you for your sport. So thank you everyone. I'd
Speaker 1: like to say thank you from the bottom of my
Speaker 1: heart for your support.
Speaker 2: Thank you, and thank you every one out there.
Speaker 18: So I know for sure a lot of them sold
Speaker 18: the farm to buy Tesla, and they stuck with Tesla
Speaker 18: through thick and thin, good days and bad days.
Speaker 2: Yes, So my.
Speaker 18: Question to you is, how do you feel about the thing,
Speaker 18: the success, but in a safer way where you get
Speaker 18: qualified Tesla retail investor only to invest in SpaceX, avoiding
Speaker 18: all these market manipulators, those crooks, and these short sellers.
Speaker 1: It is a tough problem that you highlight the basically
Speaker 1: the unfortunately, over time, the parasitic load of being a
Speaker 1: public company has just grown over time, and so you
Speaker 1: get all these spurious lawsuits, obviously, and they just make
Speaker 1: it very difficult to operate effectively as a public company.
Speaker 1: But I do want to try to figure out some
Speaker 1: way for Tesla shareholders to participate in SpaceX.
Speaker 19: That would be very cool.
Speaker 1: I've been giving a lot of thought to how to
Speaker 1: give people access to SpaceX stock, because I do want
Speaker 1: supporters to have SpaceX stock. But there's a sort of
Speaker 1: twenty five hundred shareholder threshold for before you become impacted.
Speaker 2: A public company.
Speaker 1: But I don't know, maybe at some point tells it,
Speaker 1: maybe made some point SpaceX should become a public company
Speaker 1: despite all the downsides of being public.
Speaker 20: All right, Okay, first of all, thank you very much, Elon.
Speaker 20: Just an amazing job you're doing, not only for Tesla
Speaker 20: shareholders but humanity in general. So we got a couple
Speaker 20: of questions. Many of us are asking, like, we want
Speaker 20: to know. Many of us think you are one of
Speaker 20: the most consequential business people honor of ever and we
Speaker 20: want to understand how do you think, For example, like
Speaker 20: a couple of one, how did you know in the
Speaker 20: master plant part two, this is like twenty eighteen or
Speaker 20: something like that, you calculated that point it takes six
Speaker 20: billion miles of FSD miles driven before maybe the world
Speaker 20: the regatory would prove it. And then the second is
Speaker 20: like when you were deciding if Tessa's going to have
Speaker 20: the hardware chips AI chips, did you know at that
Speaker 20: time that at some point when you get to AA five,
Speaker 20: it's going to be used not only for cars but
Speaker 20: for bots and for AI data centers.
Speaker 2: Was that luck a little bit or was it.
Speaker 21: Like you that was going to happen?
Speaker 1: I generally, I mean in terms of the estimates, like
Speaker 1: the for the self driving stuff, I generally try to
Speaker 1: get things to within an order of magnitude. So if so,
Speaker 1: it seemed to me like probably and this was technically
Speaker 1: in kilometers, but would be more closer to ten billion kilometers,
Speaker 1: which is roughly six billion miles. Then it would be
Speaker 1: to one billion, but I think I thought it would
Speaker 1: not take one hundred billion kilometers.
Speaker 2: So it's really just.
Speaker 1: Trying to when you're trying to guess something where there's
Speaker 1: a lot of uncertainty, just try to get it get
Speaker 1: the estimate to the nearest order mangitude closest factor of ten.
Speaker 1: And that's why I said probably around ten billion kilometers
Speaker 1: or six billion miles. And then yeah, the chip the
Speaker 1: reason Tesla created a chip team, And it's important though,
Speaker 1: like the vast majority of Tesla is like a dozen
Speaker 1: startups in one and the only we've only really done
Speaker 1: one major acquisition, which is solar City and then had
Speaker 1: some very small ones. So all of us is almost
Speaker 1: all of this is organic. I built the CHIP team
Speaker 1: from scratch and the AI team from scratch. The it
Speaker 1: was just because it became a limiting factor. Hardware too,
Speaker 1: we used in video, but in video was at that
Speaker 1: time focused on making really AI server hardware, which obviously
Speaker 1: was a smart bet. Though the most val currently the
Speaker 1: most valuable company in the world, and Jensen Long his
Speaker 1: team have done an incredible job at in video.
Speaker 2: My headsaft to them.
Speaker 1: I'm a huge admirer of Jensen and in video done
Speaker 1: amazing work, but they were they didn't want to do
Speaker 1: a cut a low cost, power efficient car computer at
Speaker 1: the time AI car computer. So it's like, okay, I
Speaker 1: guess we need to start a chip team to solve that.
Speaker 1: So then that's when I hired Jim Keller and we
Speaker 1: built the chip team and did AI three, then AI four,
Speaker 1: and then we to be honest, we made a few
Speaker 1: we made some mistakes there with AI five, but now
Speaker 1: AI five is back on track and we'll have a
Speaker 1: very rapid cadence to AI six and so forth, and
Speaker 1: this will really this is really necessary for for the
Speaker 1: car to like like With AI four, I think we
Speaker 1: can get to two or three hundred percent better than
Speaker 1: human safety, maybe four hundred percent better. But with AI five,
Speaker 1: I think we can do one thousand percent better or
Speaker 1: maybe even better than that, and then human safety at
Speaker 1: a certain point. Actually, it might be too much intelligence
Speaker 1: for a car because like I was thinking, like, what
Speaker 1: if you get stuck in a car and you have
Speaker 1: too much intelligence? But then one of the things we
Speaker 1: could do is when the car is idle, is use
Speaker 1: the car as a massive distributed AI infrince fleet with
Speaker 1: the content of customers. We're like, do you want your
Speaker 1: car to earn money for you while it's sitting in your.
Speaker 2: Garage of night. I don't know.
Speaker 1: We'll pay one hundred dollars a month or two hundred
Speaker 1: dollars a month or whatever the right number is if
Speaker 1: you allow Tesla to do AI inference workloads when you're
Speaker 1: not using your car. So that will also helped the
Speaker 1: AI in the car not get bored, because I imagine
Speaker 1: what if I got stuck in a car and then well,
Speaker 1: and the highlight of your day was driving. But they
Speaker 1: don't always want to drive, so then what do you
Speaker 1: do with the rest of the time. So I think
Speaker 1: Tesla could actually end up having the largest might end
Speaker 1: up having the most amount of AI inference compute.
Speaker 2: In the world. Like I think, like maybe if we.
Speaker 1: Had one hundred million car fleet, and at some point
Speaker 1: we may have more than a hundred million call fleet,
Speaker 1: and they'll have AI six AI seven, And if you're
Speaker 1: able to run a kilowatt of inference on one hundred
Speaker 1: million car fleet, now you've got a one hundred gigawatts
Speaker 1: of distributed inference with built in cooling and power electronics
Speaker 1: and distributed power. Probably the market's valuing that at zero
Speaker 1: point zero right now, so I guess, but it seems
Speaker 1: like an obvious thing to do if you've got distributed
Speaker 1: inference AI and you've got the power and the cooling,
Speaker 1: which is very difficult to do the power in the cooling,
Speaker 1: and one hundred gigawatts is a lot the average I said.
Speaker 1: The average power consumption in the US I think is
Speaker 1: around four hundred and sixty gigawats within that's the entire
Speaker 1: electric consumption of the US. So the if you do
Speaker 1: it one hundred gigawatts, that'd be a pretty big number.
Speaker 1: But yeah, it's basically something as a limiting factor and
Speaker 1: then we take actions to address the limiting factor.
Speaker 20: A quick follow up, Thank you for that very much.
Speaker 20: A request for you. So you guys just unveiled the
Speaker 20: cyber bear.
Speaker 2: Oh yeah, we'd like to. It's beautiful.
Speaker 20: We'd want you, guys or maybe do a cyber bull
Speaker 20: here in Giga Texas. My name is Herbert. I've got
Speaker 20: a brighter with Herbert channel on YouTube. And this is
Speaker 20: the Cyber Bulls. We are representing the Tesla Bulls and
Speaker 20: we stand with you, elon, but would it be cool
Speaker 20: to have a cyber bull right here in Texas?
Speaker 1: Like a cyber longhorn.
Speaker 20: Cyber longhorn.
Speaker 1: All right, we'll do a cyber longhorn for the factory.
Speaker 2: All right, good afternoon.
Speaker 22: I'm I'm very excited to ask this question. I've dreamed
Speaker 22: of giving away a Tesla for a very long time,
Speaker 22: and I finally wore Evy Jack down enough that they're
Speaker 22: willing to flip the bill for it. But it turns
Speaker 22: out to give away a Tesla, I have to have
Speaker 22: your permission to say we're giving way a Tesla, so.
Speaker 2: Just get away.
Speaker 22: You don't have to do anything Tesla does that. We're
Speaker 22: going to go through the normal channels. We'll buy it
Speaker 22: from a store that stuff if you.
Speaker 2: Can get totally cool. Yeah, yeah, that's certainly. You don't
Speaker 2: need my mission to give away a car.
Speaker 1: We'll take like maybe a couple more questions and call
Speaker 1: it a night.
Speaker 5: All right, Hilana, my name is Jonathan. You mentioned that
Speaker 5: the Roadster will have more tech than all the James
Speaker 5: Bond vehicles combined. Do you think this possible will be
Speaker 5: that any of that tech will make it into the
Speaker 5: current vehicle lineup? No, And to follow up on that,
Speaker 5: do you have any estimate of production or delivery timelines
Speaker 5: for the Roadster.
Speaker 1: So we're aiming for the product unveiled and will be
Speaker 1: of the Roster to which will be very different from
Speaker 1: what we're shown previously. That demo event will be April
Speaker 1: first of next year. I have some deniably because like
Speaker 1: I could say, I was just kidding, but we are
Speaker 1: actually tentatively aiming for April first for what I think
Speaker 1: will be the most exciting whether it works or not,
Speaker 1: demo ever of any product. And then I guess production
Speaker 1: is probably about twelve to eighteen months after that, So
Speaker 1: I think production is probably a year or so after that. Oh,
Speaker 1: I can't give away the secrets, but you won't be disappointed.
Speaker 1: All right, take one last question? Hey, all right, three
Speaker 1: last questions?
Speaker 2: Okay, hi Elan.
Speaker 23: I'm really excited about this a future of sustainable abundance
Speaker 23: that we're talking about. You're going to be saving a
Speaker 23: lot of lives with FSD, but the number of lives
Speaker 23: that would be saved and improved with this future vision
Speaker 23: you have is really inspiring and very exciting. So even today,
Speaker 23: you've mentioned though that in a post scarcity world, the
Speaker 23: role of money could diminish or become obsolete, given that
Speaker 23: much of today's power, including yours, is tied to wealth.
Speaker 23: Do you think achieving this abundance would require powerful people
Speaker 23: to relinquish their power? And how might we address resistance
Speaker 23: from those who hold power to make this vision a reality?
Speaker 1: I think actually, long term, the AI is going to
Speaker 1: be in charge, to be totally frank, not humans. If
Speaker 1: artificial intelligence vastly exceeds the summer human intelligence, it is
Speaker 1: difficult to mentionine that any humans will actually.
Speaker 2: Be in charge. So we just need to make sure
Speaker 2: that as friendly. Yep, thank you? Is that the question
Speaker 2: go ahead? Sure? Yes?
Speaker 18: Okay?
Speaker 24: Sorry, el okay, okay, yeah, I'm cybercat on X and
Speaker 24: I'm doing YouTube and the content creator. There's one thing
Speaker 24: I always heard about Tesla owners or people who want
Speaker 24: to buy Tesla complain about that is about super expensive insurance,
Speaker 24: right and the thing is Tesla I know Tesla also
Speaker 24: do insurance. However, it's not a cover every place. Based
Speaker 24: on Boston, I don't have too much options. It's super expensive.
Speaker 24: And the other point is the FSD is very safe
Speaker 24: right now. I've been using FSD for about four years.
Speaker 24: Right it's getting to a point it's like almost unsupervised. However,
Speaker 24: the insurance still does not take this into consideration. They
Speaker 24: don't ask you whether you have FFD or not, and
Speaker 24: they don't know how much you travel with FSD, and
Speaker 24: that is not a part of the risk prediction kind
Speaker 24: of thing. So I feel like, what's your thought about
Speaker 24: the insurance going forward, especially when we're getting close to
Speaker 24: the autonomy. What is PAS like either using your own
Speaker 24: with the external partnership, for example, there's a company called Lemonade.
Speaker 1: We need to not have the questions be super long.
Speaker 1: The Teslin insurance is trying to expand as as quickly
Speaker 1: as possible, but the regulatory structure for insurance is extremely
Speaker 1: complex and works on a state by state basis, so
Speaker 1: it's really somewhat of a racket, and the rules for
Speaker 1: insurance are different with every state.
Speaker 2: It's a very complicated thing.
Speaker 1: Yeah, so there's but I'm aware that insurance often is
Speaker 1: too expensive and doesn't take the right things into account.
Speaker 1: But so all I can say to that is, yeah,
Speaker 1: we'll keep expanding teslent insurance. When the car is operating
Speaker 1: as a cybercap Tesla will simply self insure, so that
Speaker 1: kind of solves that. But insurance is a yeah, a real.
Speaker 2: Pain in the neck for sure.
Speaker 1: But Okay, I do need to end this at some point.
Speaker 1: I'll take Yeah, one question, one question there.
Speaker 21: All right, thanks thelan for taking my question.
Speaker 2: I appreciate it.
Speaker 21: My question has to do with compute and what the
Speaker 21: build out or how much is necessary to train optimists
Speaker 21: and actually get them to a very household meaningful robot
Speaker 21: that can do things, and if the partnership with x
Speaker 21: A with XAI would help accelerate that.
Speaker 1: Yeah, there's there's a lot of training compute needed for Optimus,
Speaker 1: and because the AI tip in the robot is relatively weak,
Speaker 1: because it's really living in our power.
Speaker 2: You can make up with that with a lot.
Speaker 1: Of training to have a lot of training result in
Speaker 1: a very efficient AI that can run on a low
Speaker 1: power chip in the robot. So it is we will
Speaker 1: actually have to spend a lot of money on training.
Speaker 1: Ultimately it'll be like tens of billions of dollars on
Speaker 1: training compute, so it's a big number.
Speaker 21: What a partnership with Xai help accelerate that?
Speaker 2: Uh?
Speaker 1: Yeah, I think potentially, Yeah, I think that that could. Yeah,
Speaker 1: there's potential for accelerating that.
Speaker 2: Yeah. Did the Xai investment think get approved?
Speaker 3: No?
Speaker 2: Yes? Okay, okay, okay, okay, whatever. What it like?
Speaker 1: It's Teesla and some other company that I have been
Speaker 1: interested in, and it's like always quite complicated to do
Speaker 1: things has to go through a lot of hoops to happen.
Speaker 1: But I do think there's a lot of potential collaboration
Speaker 1: with Xai in the future and with space x A.
Speaker 20: Right, okay, this is the last one.
Speaker 17: Yeah, sorry, Thank you so much, Captain elion x. I
Speaker 17: support you. Thanks so much for everything you do. Very
Speaker 17: simple question. I'm from Israel. I don't represent a lot
Speaker 17: of people, but people do ask me and I'm going
Speaker 17: to ask you, I need a chance to have the
Speaker 17: app in other languages, like Hebrew for example. Some people
Speaker 17: struggle with me. I mean even the app is the
Speaker 17: app itself, Yeah, just the app.
Speaker 1: The app is not a Hebrew Oh and a lot
Speaker 1: of people don't speak English. Oh okay, shoot, I feel
Speaker 1: we had it in all languages. Okay, definitely the app
Speaker 1: needs to be in all languages, all right, all right,