1 00:00:00,240 --> 00:00:01,199 Speaker 1: Elon Musk is here. 2 00:00:01,320 --> 00:00:04,879 Speaker 2: He is chief executive of two startup companies with bowl missions. 3 00:00:05,160 --> 00:00:07,879 He leads Tesla Motors, the electric car company that has 4 00:00:07,919 --> 00:00:11,919 attracted attention from both car enthusiasts and environmentalist as well. 5 00:00:12,240 --> 00:00:15,119 The company's powerful rochister, which can travel from zero to 6 00:00:15,160 --> 00:00:19,559 sixty in less than four seconds, is entirely powered by batteries. 7 00:00:19,800 --> 00:00:22,120 The company plans to break into the mainstream modo market 8 00:00:22,120 --> 00:00:25,640 with an electric sedan as early as twenty eleven. Mosk 9 00:00:25,800 --> 00:00:28,640 is also a found to see of Space Exploration Technologies, 10 00:00:28,800 --> 00:00:31,960 a company trying to slash the cost of space travel. 11 00:00:32,280 --> 00:00:34,560 Last year, the company signed an agreement with NASA to 12 00:00:34,640 --> 00:00:37,840 send cargo to the International Space Station and if that 13 00:00:37,960 --> 00:00:40,119 is not enough. He's also chairman of a growing company 14 00:00:40,159 --> 00:00:44,679 called Solar City that installs solar panels on homes and businesses. 15 00:00:45,000 --> 00:00:47,280 He has thrived in Silicon Valley one of the co 16 00:00:47,359 --> 00:00:50,840 founders of PayPal, the online payments company that eBay bought 17 00:00:50,840 --> 00:00:53,799 for one point five billion dollars in two thousand and two. 18 00:00:54,200 --> 00:00:56,119 Speaker 1: I am pleased to have him here at this table 19 00:00:56,399 --> 00:00:57,240 for the first time. 20 00:00:57,399 --> 00:00:59,640 Speaker 3: Welcome, Thank you, thanks for having me. I've been a 21 00:00:59,719 --> 00:01:01,039 big find of the show for a long time. 22 00:01:01,159 --> 00:01:03,240 Speaker 4: Let's just talk about you first, so that if the 23 00:01:03,280 --> 00:01:07,079 audience does not know growing up in South Africa. Yeah yeah, 24 00:01:07,400 --> 00:01:10,319 and why how how did you end up in Canada? 25 00:01:11,239 --> 00:01:14,640 Speaker 3: Well, I guess growing up in South Africa, I was 26 00:01:14,680 --> 00:01:18,120 actually it was very technology oriented and I taught myself 27 00:01:18,239 --> 00:01:21,280 how to program computers, mostly because I wanted to program games. 28 00:01:21,840 --> 00:01:25,359 And I when when I was about twelve, program sold 29 00:01:25,400 --> 00:01:28,799 my first game, and whenever I'd read about technology and 30 00:01:29,159 --> 00:01:34,840 great innovation, it's it was coming from from the United States, and. 31 00:01:33,959 --> 00:01:35,920 Speaker 1: So it was, you know, that's where I wanted to be. 32 00:01:36,040 --> 00:01:38,480 Speaker 3: And I tried to convince my parents to move move there, 33 00:01:38,519 --> 00:01:41,000 and uh, neither of them would They would have wahed. 34 00:01:41,040 --> 00:01:43,239 I tried my mother trying to find neither would would 35 00:01:43,280 --> 00:01:46,920 do it. My mother later moved back to initially Canada 36 00:01:46,959 --> 00:01:49,159 and then and then the US. And so when I 37 00:01:49,159 --> 00:01:51,799 was seventeen, as soon as I got my Canadian passport, 38 00:01:52,480 --> 00:01:53,799 three weeks later, I was in Canada. 39 00:01:54,359 --> 00:01:56,799 Speaker 4: So here you are, and you come to Canada and 40 00:01:56,799 --> 00:01:58,640 make it to the United States, and then you and 41 00:01:58,640 --> 00:02:01,599 and several other guys come together and create PayPal right 42 00:02:01,640 --> 00:02:03,799 and you sell it to eBay for one point whatever. 43 00:02:03,799 --> 00:02:05,040 Speaker 1: It was five billion dollars. 44 00:02:05,120 --> 00:02:09,439 Speaker 3: Yeah, so after PayPal, Uh that that gave me, you know, 45 00:02:09,439 --> 00:02:14,000 a fair bit of capital. And uh, there were there 46 00:02:14,039 --> 00:02:16,199 were there were three areas when as in college, there 47 00:02:16,199 --> 00:02:17,639 were three areas that I though would most affect the 48 00:02:17,680 --> 00:02:21,120 future of humanity and and those were the Internet, the 49 00:02:21,159 --> 00:02:24,719 transition to a sustainable energy and transportation sector. And the 50 00:02:24,759 --> 00:02:27,319 third was space exploration and particularly the extension of life 51 00:02:27,319 --> 00:02:29,719 to multiple planets. And I didn't ever expect to be 52 00:02:29,719 --> 00:02:31,840 involved in the third one, but but it just that 53 00:02:31,879 --> 00:02:32,240 seems to. 54 00:02:32,240 --> 00:02:34,039 Speaker 1: Me that's something that would be very important for the future. 55 00:02:34,680 --> 00:02:38,000 Speaker 3: And with the capital I got from the sale of PayPal, 56 00:02:38,360 --> 00:02:40,319 I was able to go into both those those areas. 57 00:02:41,680 --> 00:02:45,680 And uh and so hint hents uh SpaceX and and 58 00:02:45,759 --> 00:02:48,759 in the space and then in in the sustainable energy 59 00:02:48,759 --> 00:02:51,599 and transportation you've got Solar City and and Tesla. 60 00:02:52,319 --> 00:02:54,240 Speaker 1: We to talk about space exploration just for a moment. 61 00:02:54,240 --> 00:02:58,840 Speaker 4: How is it going in terms of creating the systems 62 00:02:58,840 --> 00:03:03,280 that will engage in space exploration, not just for governments 63 00:03:03,280 --> 00:03:06,360 and not just for NASA, but for private citizens as well. 64 00:03:07,039 --> 00:03:07,360 Speaker 1: Well. 65 00:03:08,199 --> 00:03:10,400 Speaker 3: You have to divide the efforts that are going on 66 00:03:10,479 --> 00:03:13,759 into what isn't an orbit class effort versus a sub 67 00:03:13,840 --> 00:03:16,240 orbital class effort, and there's really a very big difference. 68 00:03:16,520 --> 00:03:18,919 But the general public doesn't understand the difference between getting 69 00:03:18,919 --> 00:03:20,759 to space and getting to getting to orbit, and so 70 00:03:20,800 --> 00:03:25,120 it's important to make that distinction. To do a suborbital flight, 71 00:03:25,199 --> 00:03:28,479 you need a terminal velosity of around mark three. To 72 00:03:28,879 --> 00:03:30,879 get to orbit you need a terminal polosophy of mark 73 00:03:30,919 --> 00:03:35,479 twenty five. It's a huge, huge difference. And because the 74 00:03:35,599 --> 00:03:38,039 energy required to do that scales with the square of 75 00:03:38,039 --> 00:03:43,039 the velocity, So suborbital maybe nine units of energy, orbit 76 00:03:43,080 --> 00:03:45,000 is six hundred and twenty five units of energy, So 77 00:03:45,639 --> 00:03:48,479 it's only about one and a half percent of the 78 00:03:48,599 --> 00:03:50,319 energy of orbit is required to get to SubOrbit. So 79 00:03:50,919 --> 00:03:52,240 that there's there are a number of efforts in the 80 00:03:52,199 --> 00:03:55,680 suboverval category that certainly could grow one day to to orbital. 81 00:03:56,680 --> 00:04:01,280 Jeff Bezos has an effort, and uh, I know that 82 00:04:01,280 --> 00:04:04,360 that's something that that's Ranson involved in this. Branson absolutely, 83 00:04:05,599 --> 00:04:08,240 not so much directly from the technology standpoint, but from 84 00:04:08,919 --> 00:04:12,960 he's he's funding that development at Scales Composits in California. 85 00:04:13,000 --> 00:04:15,120 Speaker 1: What are you doing? So we're in the we're in 86 00:04:15,159 --> 00:04:16,439 the in the in the orbit class. 87 00:04:17,160 --> 00:04:19,079 Speaker 3: And that's it's it's a lot more capital and and 88 00:04:19,399 --> 00:04:21,160 uh and and and that's really where you're sort of 89 00:04:21,160 --> 00:04:24,639 pushing the ragged edge of of what's what's physically possible. 90 00:04:25,879 --> 00:04:28,879 Speaker 1: And uh, last year we got to orbit uh with 91 00:04:29,079 --> 00:04:29,720 for the first. 92 00:04:29,480 --> 00:04:35,000 Speaker 3: Time with with our rocket and UH that was certainly 93 00:04:35,079 --> 00:04:36,800 a huge relief and a milestone. 94 00:04:37,199 --> 00:04:40,240 Speaker 1: And so what's the next step, You're gonna rocket into orbit? 95 00:04:40,439 --> 00:04:44,120 Speaker 3: Yeah, so next month we were putting a satellite for 96 00:04:44,199 --> 00:04:48,680 Malaysia into orbit uh and then from Malaysia form Formulasia 97 00:04:49,560 --> 00:04:54,240 Malasian satellite. And but in the rocket business, the rocket 98 00:04:54,240 --> 00:04:56,279 company does launch. It's not like the airline business. So 99 00:04:56,319 --> 00:04:59,720 you don't sell the rocket, you sell the launch. And 100 00:04:59,720 --> 00:05:01,240 and then later this year we'll be launching out big 101 00:05:01,319 --> 00:05:04,439 rocket from Cape Canaveral. That's the Falcon Mine and that's 102 00:05:04,480 --> 00:05:06,240 the one that's going to be servicing the space station 103 00:05:06,600 --> 00:05:07,360 among other things. 104 00:05:07,759 --> 00:05:10,120 Speaker 4: Is there a philosophy here that somehow the private sector 105 00:05:10,160 --> 00:05:12,720 can do a lot more than than it has done 106 00:05:12,879 --> 00:05:16,800 in in areas that seem because of them because of 107 00:05:16,839 --> 00:05:19,600 the size related reserved for government. 108 00:05:21,120 --> 00:05:25,879 Speaker 3: Yeah, definitely, the private sector is very good at at 109 00:05:25,959 --> 00:05:29,839 optimization and an innovation. I mean, private sector is generally 110 00:05:29,879 --> 00:05:31,759 better doing things than the government. Uh. 111 00:05:32,240 --> 00:05:33,800 Speaker 1: I think that's that's that's fair to say. 112 00:05:35,279 --> 00:05:37,639 Speaker 3: But you know, there are certain things that that that 113 00:05:37,680 --> 00:05:40,360 the government that that asks through to the government, like 114 00:05:40,399 --> 00:05:45,600 basic research and that sort of thing. But yeah, so 115 00:05:46,120 --> 00:05:50,439 as far as uh, space, the reason that there hasn't 116 00:05:50,519 --> 00:05:55,120 been a huge number of a big improvement in the 117 00:05:55,120 --> 00:05:59,800 space industry, I think it's because of it's very difficult 118 00:05:59,839 --> 00:06:03,720 for it is create a destruction process to to to 119 00:06:04,560 --> 00:06:08,519 coming to effect because it is such a significant amount 120 00:06:08,519 --> 00:06:11,720 of capital that's needed to start a rocket company, and 121 00:06:11,959 --> 00:06:14,639 it's a very difficult technical challenge. And the number of 122 00:06:14,639 --> 00:06:17,120 people that that really understand rocketry in the world is 123 00:06:17,120 --> 00:06:20,360 a very small number. So it's it's just it's really 124 00:06:20,519 --> 00:06:23,800 a huge barrier to entry and and that's why we 125 00:06:23,839 --> 00:06:26,120 haven't seen the forcing function of improvement that that there 126 00:06:26,120 --> 00:06:27,120 should have been over the years. 127 00:06:27,199 --> 00:06:30,560 Speaker 4: And your understanding came from sort of from this was 128 00:06:30,600 --> 00:06:33,399 not what you studied in college. Well, I studied physics, 129 00:06:33,839 --> 00:06:37,000 but I was studying physics and studying rocket science thing. 130 00:06:37,399 --> 00:06:40,360 Speaker 3: Yeah, No, it gives you the basics, It gives you 131 00:06:40,399 --> 00:06:45,279 the basics. Good framework, analytical framework. So, uh, but no, 132 00:06:45,360 --> 00:06:48,360 I picked it up along the way. But what is 133 00:06:48,360 --> 00:06:55,839 your core competent you think you? I think it's uh technology, technology, Yeah, yeah, technology. 134 00:06:55,879 --> 00:06:56,079 Speaker 1: Yeah. 135 00:06:56,480 --> 00:06:58,959 Speaker 3: If if, if something has to be designed and invented 136 00:06:59,759 --> 00:07:01,639 and then and you have to figure out how to 137 00:07:02,839 --> 00:07:06,160 ensure that the value of the thing you create is 138 00:07:06,199 --> 00:07:09,759 greater than the cost of the inputs, then that's that's 139 00:07:09,759 --> 00:07:10,639 probably my course skill. 140 00:07:10,879 --> 00:07:13,199 Speaker 4: Now bring me to the car. And I drove a 141 00:07:13,240 --> 00:07:18,279 car this afternoon. So far, so good, which was terrific. 142 00:07:18,480 --> 00:07:23,480 It's the Roadster. Yeah. Where does that stand you? Obviously 143 00:07:23,519 --> 00:07:26,319 I've been I've been in the Google parking lot. Yeah, 144 00:07:26,680 --> 00:07:28,560 you're seen a few that I've seen a few there. Yeah, 145 00:07:28,600 --> 00:07:31,800 I'm sure that's true another place in Silicon Valley. I 146 00:07:31,800 --> 00:07:34,000 don't know whether it's particularly a car that appeals to 147 00:07:34,000 --> 00:07:38,000 people in Silicon Valley because of interest in technology and 148 00:07:38,079 --> 00:07:41,360 high performance and lots of other things, or or what 149 00:07:41,519 --> 00:07:43,279 whether there are a lot of rich people and who 150 00:07:43,439 --> 00:07:45,600 willing to spend that kind of money for something they 151 00:07:45,600 --> 00:07:48,199 think is on the cutting edge of causes A believe 152 00:07:48,199 --> 00:07:52,480 in sustainable energy. Right, tell me about how where you 153 00:07:52,519 --> 00:07:56,879 are in this development of this electric car which has 154 00:07:57,680 --> 00:08:01,040 most of all this extraordinary sort of power. 155 00:08:01,279 --> 00:08:03,399 Speaker 3: Yeah, you know, Yeah, zero to takes sixty times a 156 00:08:03,439 --> 00:08:04,800 three point nine Seguis and. 157 00:08:05,839 --> 00:08:06,800 Speaker 1: The roast is extraordinary. 158 00:08:06,800 --> 00:08:09,199 Speaker 4: When you think about the sports car, isn't there anything 159 00:08:09,199 --> 00:08:11,439 else that's out on the road today. 160 00:08:11,600 --> 00:08:11,839 Speaker 1: Yeah. 161 00:08:11,879 --> 00:08:13,879 Speaker 3: In fact, on the top gear test track, our standard 162 00:08:13,920 --> 00:08:16,959 roads to beats the Porsche GT three exactly, which is 163 00:08:17,000 --> 00:08:20,959 one that reference, and the roads total to even better. 164 00:08:21,079 --> 00:08:21,279 Speaker 1: Yeah. 165 00:08:22,120 --> 00:08:24,639 Speaker 4: But you've also said, in terms of where you want 166 00:08:24,720 --> 00:08:27,680 to go that that developing a high performer sports car 167 00:08:28,079 --> 00:08:29,160 is not what this is about. 168 00:08:29,240 --> 00:08:32,240 Speaker 1: Absolutely, it is about something else. And you want to 169 00:08:32,279 --> 00:08:34,360 develop a sedan. Yeah. 170 00:08:34,679 --> 00:08:37,919 Speaker 3: The whole purpose behind Tesla, the reason I've put so 171 00:08:38,039 --> 00:08:41,000 much of my time and money it's helping create the 172 00:08:41,080 --> 00:08:44,399 business is is we want to serve as a catalyst 173 00:08:44,440 --> 00:08:46,360 for accelerating the electric car revolution. 174 00:08:47,559 --> 00:08:49,759 Speaker 1: The price of gas. 175 00:08:49,480 --> 00:08:51,279 Speaker 3: At the pump does not reflect the true cost of 176 00:08:51,279 --> 00:08:53,559 gasoline because you have a consumption of. 177 00:08:54,080 --> 00:08:54,759 Speaker 1: A public good. 178 00:08:55,320 --> 00:08:58,360 Speaker 3: It's one of the most It's really a common problem economos. 179 00:08:58,360 --> 00:09:01,039 You have the same thing in fishing, where because there's 180 00:09:01,039 --> 00:09:03,399 no cost to fishing stocks, people just over fish and 181 00:09:04,600 --> 00:09:08,440 you have disaster that ensues. And here we're not paying 182 00:09:08,440 --> 00:09:10,720 for the cost of this year two concentration in the 183 00:09:10,759 --> 00:09:12,919 oceans and the atmospheres. We're not paying for all these 184 00:09:13,000 --> 00:09:14,919 the ancillary effects of the wars and all the other 185 00:09:14,960 --> 00:09:17,639 things at the gas prompt So you effectively have a 186 00:09:17,679 --> 00:09:20,440 subsidy taking place at the gas comp because of that. 187 00:09:20,759 --> 00:09:23,039 So the only way to bridge that is with innovation 188 00:09:24,080 --> 00:09:27,240 is to try to try to make electric cars better 189 00:09:27,320 --> 00:09:28,200 sooner than they would. 190 00:09:28,000 --> 00:09:31,080 Speaker 4: Otherwise be this Suppose this, this is a hypothetical which 191 00:09:31,080 --> 00:09:32,919 it may or may not speak to the point. 192 00:09:32,960 --> 00:09:35,399 Speaker 1: But suppose fifteen. 193 00:09:35,120 --> 00:09:40,440 Speaker 4: Years ago, let's say Bill Clinton as president, who talked 194 00:09:40,480 --> 00:09:42,000 about the road to the twenty first cent fion and 195 00:09:42,000 --> 00:09:42,440 all of that. 196 00:09:42,720 --> 00:09:43,720 Speaker 1: Suppose he had said, I. 197 00:09:45,720 --> 00:09:47,879 Speaker 4: Believe so much unsustainable energy that I want to make 198 00:09:47,879 --> 00:09:51,039 a commitment and the federal government, using all of its resources, 199 00:09:51,159 --> 00:09:55,759 will develop an electric car with appropriate battery power that 200 00:09:55,840 --> 00:09:59,159 will change the face of automobile, the automobile industry in 201 00:09:59,200 --> 00:10:03,240 the world. Was that very doable? Bill Clinton was elected 202 00:10:03,240 --> 00:10:06,639 in nineteen ninety two, seventeen years ago. 203 00:10:06,799 --> 00:10:11,320 Speaker 3: Yeah, you could have made a reasonably good electric car 204 00:10:11,360 --> 00:10:13,879 around that time for a lot of investment. 205 00:10:14,879 --> 00:10:17,559 Speaker 4: And should that have been done, should the US government 206 00:10:17,600 --> 00:10:19,799 have made that kind of otherwise you will not be 207 00:10:19,879 --> 00:10:22,639 able to change the driving habits of Americans. 208 00:10:25,799 --> 00:10:28,559 Speaker 1: Was it a worthwhile expenditu or add that time, probably 209 00:10:28,600 --> 00:10:30,080 would have been a worthwhile expenditure. 210 00:10:30,440 --> 00:10:35,279 Speaker 3: But the thing that really helps electric cars is lithium 211 00:10:35,279 --> 00:10:36,360 my own right? 212 00:10:36,399 --> 00:10:37,440 Speaker 1: And when did that come around? 213 00:10:37,519 --> 00:10:39,919 Speaker 4: I mean, explain why our batteries has always been the 214 00:10:40,000 --> 00:10:42,960 great dilemma for developing an electric car. 215 00:10:43,480 --> 00:10:46,759 Speaker 3: Sure well, the energy contained with their battery is so 216 00:10:46,879 --> 00:10:51,440 much less than it's contained in gasoline that I mean, 217 00:10:51,480 --> 00:10:55,240 it's really almost it's hard to quite describe. Another way 218 00:10:55,240 --> 00:10:57,559 to put it is the Tesla battery pack in the roadstuff, 219 00:10:57,759 --> 00:10:59,840 which is the most advanced batory pack in the world. 220 00:11:01,039 --> 00:11:04,399 The common reference is to call what is actually a 221 00:11:04,440 --> 00:11:06,639 cell a battery, right, So a cell is the little 222 00:11:06,679 --> 00:11:10,039 single kin of chemicals. And then if you have multiple cells, 223 00:11:10,120 --> 00:11:12,519 that's that's what actually a battery. Right, That's that's virtually 224 00:11:12,559 --> 00:11:15,559 what a battery means, multiple cells, multiple cells. And then 225 00:11:15,799 --> 00:11:17,639 and usually as the batteries get bigger and bigger, they 226 00:11:17,679 --> 00:11:21,320 get harder and harder to deal with. So the cell 227 00:11:21,360 --> 00:11:24,360 that we use as a commodity cell, it's bid anywhere 228 00:11:24,519 --> 00:11:26,159 pretty much and it's and it's the same sort of 229 00:11:26,159 --> 00:11:28,279 thing that's in any one of a number of laptops. 230 00:11:29,080 --> 00:11:31,840 That the challenge is combining those cells into and having 231 00:11:32,159 --> 00:11:35,240 thousands of them, making sure they're safe, making sure that 232 00:11:35,440 --> 00:11:37,960 they'll last for two hundred thousand miles or one hundred 233 00:11:37,960 --> 00:11:42,879 thousand over bumps and potholes and extremes of temperature, and 234 00:11:43,320 --> 00:11:47,200 safe in a crash, and that that compounds the problem massively, 235 00:11:47,360 --> 00:11:49,679 and you've got to make sure the charges and temperatures 236 00:11:49,679 --> 00:11:53,360 balanced across the whole thing. So the difficulty is really 237 00:11:53,360 --> 00:11:55,200 at the pack level much more than it is at 238 00:11:55,200 --> 00:11:59,919 the cell level, and that's really where where the single 239 00:12:00,000 --> 00:12:02,440 biggest area of Tesla's expertise, although I should point out 240 00:12:02,440 --> 00:12:05,440 the Tesla also has we designed to build the motor 241 00:12:05,759 --> 00:12:08,240 and the power electronics, and then the software that manages 242 00:12:08,279 --> 00:12:10,279 the whole thing, so that those are important too, But 243 00:12:10,320 --> 00:12:12,840 the battery is the single most important thing. And the 244 00:12:13,080 --> 00:12:17,320 Tesla battery pack to reference to gasoline, it weighs about 245 00:12:17,320 --> 00:12:20,000 one thousand pounds and it has the energy content of 246 00:12:20,000 --> 00:12:24,440 two and a half gallons of gasoline. So so that 247 00:12:24,600 --> 00:12:26,840 means you've got to have a lot of charges. Well, 248 00:12:26,879 --> 00:12:30,080 what that means is that but there's there's an advantage 249 00:12:30,320 --> 00:12:34,200 that that. That's because the the consumption of that energy 250 00:12:34,399 --> 00:12:36,759 is much more efficient in an electric car. And this 251 00:12:36,919 --> 00:12:39,440 and this is I'll get to. You know why why 252 00:12:39,519 --> 00:12:42,919 is the Tesla roads twice as efficient as as a Prius. 253 00:12:42,639 --> 00:12:44,480 Speaker 1: Which is obviously not as sports car? Right? 254 00:12:45,279 --> 00:12:49,440 Speaker 3: And the reason is because an electric motor is fundamentally 255 00:12:50,440 --> 00:12:52,720 super efficient at turning energy into motion. 256 00:12:53,519 --> 00:12:55,159 Speaker 1: So a good electric motor. 257 00:12:55,840 --> 00:12:57,519 Speaker 3: Such as the one that we have in the Tesla Roadster, 258 00:12:57,679 --> 00:13:00,919 is about ninety percent efficient at turning the Christie into motion, 259 00:13:01,519 --> 00:13:05,240 whereas a gasoline internal combustion engine is somewhere typically in 260 00:13:05,240 --> 00:13:07,879 the range of around seventeen or eighteen percent. Most of 261 00:13:07,919 --> 00:13:12,240 what it does is generate heat. So even though it's 262 00:13:12,279 --> 00:13:13,960 only two and a half gallons gasoline, that two and 263 00:13:14,000 --> 00:13:16,960 a half gallons of energy content goes really far compared 264 00:13:17,000 --> 00:13:19,000 with you know, if you had. 265 00:13:19,600 --> 00:13:21,799 Speaker 4: If that was okay, compared to the Priest, but also 266 00:13:21,879 --> 00:13:25,080 compared to the new GM volt, Right, how does it 267 00:13:25,120 --> 00:13:26,679 do in comparison with the volt? 268 00:13:27,080 --> 00:13:29,000 Speaker 1: The vault is a different architecture it uses. 269 00:13:29,200 --> 00:13:32,120 Speaker 3: It's a plug in hybrid architecture, so it's a I 270 00:13:32,120 --> 00:13:34,720 think about a forty miles or so battery back what 271 00:13:34,759 --> 00:13:39,519 they say, and then there's an engine with a generator 272 00:13:39,799 --> 00:13:43,000 that allows you to go beyond the forty miles, right, 273 00:13:43,279 --> 00:13:48,600 and whereas ours pure electric and the strategy that we've 274 00:13:48,679 --> 00:13:53,080 decided to hew to is a pure electric strategy. And 275 00:13:54,200 --> 00:13:57,799 I mean, I've been criticized sometimes for responding to questions 276 00:13:57,840 --> 00:14:00,960 like yours to explain why we've gone to electric, and 277 00:14:01,000 --> 00:14:02,919 then people have taken that to be an attack on 278 00:14:03,159 --> 00:14:04,960 on on the Vault, which is is not the case. 279 00:14:05,039 --> 00:14:06,960 I I hope the Bolt succeeds, and I think it 280 00:14:07,000 --> 00:14:09,519 can be a pretty good car kind of I don't 281 00:14:09,559 --> 00:14:13,960 take this as an attack U totally. It's it's it's 282 00:14:14,000 --> 00:14:16,960 not but that. But I just wanted to to put that. 283 00:14:18,000 --> 00:14:19,919 Speaker 4: And what I hope to do in this conversation with 284 00:14:20,000 --> 00:14:21,480 you is figure out what it is you've done, because 285 00:14:21,480 --> 00:14:23,559 you've got a fair amount of attention, so figure out 286 00:14:23,559 --> 00:14:26,440 why you're not further along than you are, or figure 287 00:14:26,480 --> 00:14:30,120 out why you are and what your expectations are to 288 00:14:30,320 --> 00:14:32,559 do when and where is the game for you. 289 00:14:32,759 --> 00:14:34,440 Speaker 3: I think it's taken a while for the industry to 290 00:14:34,480 --> 00:14:36,240 come around to this point, but I think it's it's 291 00:14:36,320 --> 00:14:39,759 largely at this point, it's it's it's almost become conventional 292 00:14:39,799 --> 00:14:42,799 wisdom that the future is electric cars. The only question 293 00:14:42,919 --> 00:14:47,480 is this interim period, of this transitional period. But if 294 00:14:47,480 --> 00:14:50,960 you look at the pace of battery improvement, it's clear 295 00:14:51,200 --> 00:14:53,279 that that's what I mean, it's inevitable the future will 296 00:14:53,320 --> 00:14:54,480 be entirely electric. 297 00:14:54,639 --> 00:14:57,159 Speaker 4: And the iron of all this conversation is that in 298 00:14:57,200 --> 00:15:00,399 the last year, a year before it's bankruptcy, General Motors 299 00:15:00,399 --> 00:15:03,399 had announced that the bold you know, it was. 300 00:15:03,360 --> 00:15:08,320 Speaker 1: The key to their future, right as an holm Bill company, right, yeah, exactly. 301 00:15:09,240 --> 00:15:11,759 Speaker 3: I mean one area of Christism I think that it 302 00:15:12,120 --> 00:15:15,320 is valid regarding Jim is have. 303 00:15:15,399 --> 00:15:16,440 Speaker 1: Them come to that conclusion. 304 00:15:16,519 --> 00:15:18,399 Speaker 3: By the way, well, they should have probably done a 305 00:15:18,399 --> 00:15:20,840 prius or something like that. But I think if you know, 306 00:15:20,919 --> 00:15:21,360 they had the e. 307 00:15:21,440 --> 00:15:24,600 Speaker 4: V one right right exactly, which didn't work, didn't work, 308 00:15:24,639 --> 00:15:27,120 but didn't make it for reasons I'm not clear, right, 309 00:15:27,159 --> 00:15:29,080 and you know as a marketing success. 310 00:15:29,360 --> 00:15:31,919 Speaker 3: Yeah, Chris Pain did a movie Who Killed the Electric 311 00:15:31,919 --> 00:15:33,639 Car about it, and it was sort of trying to. 312 00:15:33,639 --> 00:15:34,360 Speaker 1: Viiscia that issue. 313 00:15:34,360 --> 00:15:38,759 Speaker 3: But I think it's it's notable that in that movie 314 00:15:38,759 --> 00:15:41,000 it shows that the customers who had the EV one, 315 00:15:41,879 --> 00:15:44,759 the cause had to be taken away from them and crushed, 316 00:15:44,919 --> 00:15:46,320 and they held a candlelight vigil. 317 00:15:46,559 --> 00:15:46,720 Speaker 1: Right. 318 00:15:46,759 --> 00:15:49,519 Speaker 3: If you have people that really love a product to 319 00:15:49,559 --> 00:15:51,039 the degree that they're willing to hold a candle lit 320 00:15:51,159 --> 00:15:53,240 vigil for it, that that says, hey. 321 00:15:53,080 --> 00:15:55,279 Speaker 1: Maybe you should make an EV too. It certainly does 322 00:15:55,320 --> 00:15:56,080 say that. You know. 323 00:15:57,320 --> 00:16:00,519 Speaker 4: So the car that I drove today coached to two, 324 00:16:00,600 --> 00:16:01,799 I think, I mean, I think it was a roaster 325 00:16:01,879 --> 00:16:04,320 before this, this is right, second iteration of it. 326 00:16:04,440 --> 00:16:07,519 Speaker 1: Yeah, came came through production. 327 00:16:07,679 --> 00:16:11,879 Speaker 3: What year the first roaster number one, the first first 328 00:16:11,879 --> 00:16:15,840 production roster which was fully deplotment of transport. 329 00:16:15,519 --> 00:16:18,559 Speaker 1: Legal and all that sort of stuff at all the standards. Yeah, Yeah, 330 00:16:18,600 --> 00:16:20,440 it was Februar of last year, and that was my car. 331 00:16:20,879 --> 00:16:24,039 That was the car, your car meaning what the one? 332 00:16:24,559 --> 00:16:27,519 Speaker 4: Yeah, and so then you decided immediately to make improvements 333 00:16:27,559 --> 00:16:27,879 on that. 334 00:16:28,480 --> 00:16:32,559 Speaker 3: Yeah, yeah, absolutely it was. It was a little little 335 00:16:32,600 --> 00:16:34,559 rough going in the beginning, and we had some issues 336 00:16:34,600 --> 00:16:36,960 with some of the powertrain components. In fact, not that 337 00:16:37,080 --> 00:16:38,840 not the hard stuff, but the stuff that's sort of 338 00:16:38,879 --> 00:16:43,279 theoretically easier, and you know, we're able to fix those 339 00:16:43,320 --> 00:16:45,759 and get get production wrapped up, and now we're at 340 00:16:45,759 --> 00:16:48,240 the point where we're delivering about twenty to twenty five 341 00:16:48,279 --> 00:16:48,799 cars a week. 342 00:16:50,080 --> 00:16:53,000 Speaker 4: You know that Tata Motors obviously, you know, and I 343 00:16:53,039 --> 00:16:58,759 know take for a moment what he's doing in India. Yeah, 344 00:16:58,799 --> 00:17:02,840 developing a little sedan for twenty three hundred dollars none, right, right, right? 345 00:17:05,039 --> 00:17:06,759 Where do you put that in the whole equation of 346 00:17:06,759 --> 00:17:08,240 where the future of cars are? 347 00:17:08,960 --> 00:17:11,720 Speaker 1: Well, I think it's a good idea to have affordable cause. 348 00:17:13,359 --> 00:17:17,160 Speaker 3: You know, I think I think we're with the problem 349 00:17:17,160 --> 00:17:19,519 with with something something like like the Nana, which I think, 350 00:17:19,559 --> 00:17:21,279 by the way, I'll say a problem. I think it's 351 00:17:21,279 --> 00:17:23,759 a great idea. And Jack Russian is a gentleman. The 352 00:17:23,759 --> 00:17:27,480 skull and all of those are. Yeah, it's hard not 353 00:17:27,519 --> 00:17:31,400 to yeah, exactly. I think where it's going to come 354 00:17:31,480 --> 00:17:34,480 challenging the futures. As the price of gasoline rises, the 355 00:17:34,759 --> 00:17:37,640 cost of acquiring the car is much less of an 356 00:17:37,640 --> 00:17:39,440 issue than the cost of operating in that car, right, 357 00:17:40,200 --> 00:17:42,319 And uh, And I think oil. 358 00:17:42,160 --> 00:17:45,359 Speaker 4: Is inevitable, it's already moving back up. And you, yeah, 359 00:17:45,599 --> 00:17:48,160 do you have some assumptions in your own calculations as 360 00:17:48,200 --> 00:17:50,000 to where oil will level off. 361 00:17:51,039 --> 00:17:53,920 Speaker 3: I think it will exceed that the numbers we've seen 362 00:17:53,960 --> 00:17:57,640 last year one hundred and forty four. Oh yeah, sure, absolutely, 363 00:17:57,640 --> 00:18:00,000 I think we'll see it sort of approach two hundred 364 00:18:00,119 --> 00:18:02,400 dollars and beyond. 365 00:18:01,680 --> 00:18:03,559 Speaker 1: By twenty ten, eleven, twelve somewhere. 366 00:18:03,599 --> 00:18:07,319 Speaker 3: Now, I'd say, whenever the next boom is so as 367 00:18:07,319 --> 00:18:09,319 they say the next boom is four years from now, 368 00:18:09,319 --> 00:18:10,960 it'll be around that around that point. 369 00:18:11,039 --> 00:18:13,039 Speaker 4: Of all your businesses, which one do you care the 370 00:18:13,039 --> 00:18:13,599 most about? 371 00:18:14,480 --> 00:18:18,559 Speaker 3: Well, right now my time is split roughly evenly between 372 00:18:18,640 --> 00:18:21,880 Tesla and SpaceX, so it's I guess it would be 373 00:18:22,559 --> 00:18:25,559 pretty pretty even between the two. And that Solar City 374 00:18:26,400 --> 00:18:29,440 is doing great on its own, and the two co 375 00:18:29,480 --> 00:18:31,279 founders that are living to Peter Rve have done a 376 00:18:31,279 --> 00:18:34,400 phenomenal job and thankfully it requires very little my attention 377 00:18:35,400 --> 00:18:35,880 right now. 378 00:18:35,920 --> 00:18:39,359 Speaker 4: The reason to create a sports car a roaster as 379 00:18:39,400 --> 00:18:42,440 the first stage of this is because it attracts attention 380 00:18:42,839 --> 00:18:44,200 or what oh. 381 00:18:45,039 --> 00:18:46,920 Speaker 1: So good, great, great question. 382 00:18:47,000 --> 00:18:50,000 Speaker 3: So because I feel often misinterpret why we have created 383 00:18:50,160 --> 00:18:52,319 a sports car because they will say. 384 00:18:53,039 --> 00:18:56,480 Speaker 4: You know, the implication will be cars for rich guys, 385 00:18:56,559 --> 00:18:58,519 is that I saw the energy from. 386 00:18:58,359 --> 00:19:00,359 Speaker 3: Right exactly, And they would sort of like that that 387 00:19:00,440 --> 00:19:02,920 I feel that there was somehow a shortage of sports cars. 388 00:19:02,759 --> 00:19:04,039 Speaker 1: For rich guys or something like that. 389 00:19:04,079 --> 00:19:07,480 Speaker 3: And that was the part and not only if you're 390 00:19:07,599 --> 00:19:10,640 if any new technology is expensive when it starts out, 391 00:19:11,400 --> 00:19:14,680 and you can point pretty much anything. And and because 392 00:19:14,680 --> 00:19:17,160 the first thing that that you, the engineers are trying 393 00:19:17,200 --> 00:19:18,839 to do is make it work. And then when you 394 00:19:18,839 --> 00:19:20,640 made it work, make it work, then you optimize and 395 00:19:20,640 --> 00:19:22,440 new optimize and new optimized. And you look at the 396 00:19:22,440 --> 00:19:26,000 early days of computers or cell phones or almost anything, 397 00:19:26,000 --> 00:19:28,440 even the early days of gasoline cars. There used to 398 00:19:28,480 --> 00:19:31,559 be toys for rich people until they were made affordable 399 00:19:31,559 --> 00:19:34,559 and mass products. Yeah, and and and and then you 400 00:19:34,559 --> 00:19:37,559 combine them with and and then you combine that with 401 00:19:37,559 --> 00:19:40,519 the fact that we were just a little startup and 402 00:19:42,319 --> 00:19:44,119 you know, there's there's just no way that we could 403 00:19:44,119 --> 00:19:47,359 afford a billion dollars to make a giant car plant 404 00:19:47,480 --> 00:19:51,160 that that would uh make you know, hundreds of thousands 405 00:19:51,160 --> 00:19:53,000 of cars a year, because that's the kind of volume 406 00:19:53,039 --> 00:19:55,039 you have to get to to make to make cheap cars, 407 00:19:56,359 --> 00:19:58,960 and uh and then and it's also the first iteration 408 00:19:59,000 --> 00:19:59,640 of technology. 409 00:19:59,680 --> 00:20:00,559 Speaker 1: So we had both a. 410 00:20:00,519 --> 00:20:04,920 Speaker 3: Volume problem and a new technology problem, and so that 411 00:20:05,039 --> 00:20:07,400 naturally that you have to reach scale. You have to 412 00:20:07,440 --> 00:20:09,119 reach scale, and you have to work the bugs out 413 00:20:09,160 --> 00:20:11,799 of the system, and so you've got to make it 414 00:20:11,920 --> 00:20:13,640 and you want to make mistakes at a small scale. 415 00:20:13,640 --> 00:20:17,759 Speaker 4: Okay, So how's that going. Reaching scale and being able 416 00:20:17,799 --> 00:20:24,480 to create a marketing, a business plan, they'll enable you 417 00:20:24,559 --> 00:20:28,440 to reach a large audience, you know, and create and 418 00:20:28,480 --> 00:20:30,160 continue the development of the technology. 419 00:20:30,519 --> 00:20:33,519 Speaker 3: They'll make it even more attractive. It's going really well. Actually, 420 00:20:34,240 --> 00:20:37,119 so it was. We had a few bumpy, bumpy years 421 00:20:37,119 --> 00:20:39,240 in the beginning, but at this point we're producing at 422 00:20:39,240 --> 00:20:42,799 a steady state of about an annualized production rate of 423 00:20:42,799 --> 00:20:45,759 about a thousand roads to sports cause a year. We 424 00:20:45,880 --> 00:20:49,839 unveiled at saidan a few months ago, which is a 425 00:20:49,920 --> 00:20:52,400 much more functional car, and it's a fifty thousand dollars car, 426 00:20:52,519 --> 00:20:54,440 so it's basically it's about half the price of the 427 00:20:54,519 --> 00:20:54,960 roads and. 428 00:20:54,880 --> 00:20:57,519 Speaker 4: The production run, say for the year twenty ten, for 429 00:20:57,559 --> 00:21:00,680 the roads, that will be about one thousand, and for 430 00:21:00,759 --> 00:21:02,759 the sedan. 431 00:21:02,799 --> 00:21:04,480 Speaker 1: The sedan is only coming out in two years. 432 00:21:05,000 --> 00:21:06,960 Speaker 4: Twenty eleven will be the first year, right, and what's 433 00:21:07,519 --> 00:21:09,599 the projection for that. 434 00:21:10,480 --> 00:21:12,799 Speaker 3: We're expecting to do twenty thousand units a year for 435 00:21:12,880 --> 00:21:15,680 the Sedan. It's always difficult to predict these things exactly, 436 00:21:15,720 --> 00:21:18,880 but our target is we'll produce a total of about 437 00:21:18,880 --> 00:21:21,000 one hundred thousand of them in about twenty thousand a year, 438 00:21:21,200 --> 00:21:23,319 and they're going to be many variations on that. We'll 439 00:21:23,319 --> 00:21:25,559 do an suv and we'll do you know, other things, 440 00:21:25,680 --> 00:21:29,359 and then we'll do our third generation platform beyond the. 441 00:21:30,880 --> 00:21:31,200 Speaker 1: Sedan. 442 00:21:31,240 --> 00:21:33,319 Speaker 3: The model of Sedan will be a sub thirty thousand 443 00:21:33,359 --> 00:21:36,200 dollar car. So we're trying to get to mass production 444 00:21:36,279 --> 00:21:39,759 as soon as we possibly can. And but that's both 445 00:21:39,799 --> 00:21:42,799 from the cars that we make ourselves as well as 446 00:21:42,799 --> 00:21:44,640 the cause we do in partnership with others, like the 447 00:21:44,880 --> 00:21:46,720 Dialer deal you may have read about. 448 00:21:46,880 --> 00:21:52,759 Speaker 1: And so how do you measure the odds of success personally? 449 00:21:52,799 --> 00:21:55,319 Speaker 3: I would say success for me for Tesla is that 450 00:21:55,359 --> 00:21:58,200 we've accelerated the advent of electric cars by at least 451 00:21:58,240 --> 00:22:00,440 five years. 452 00:22:00,119 --> 00:22:05,039 Speaker 4: That's at the goal to accelerate the advent of electric 453 00:22:05,119 --> 00:22:08,240 cars or to create a great electric car company. 454 00:22:08,720 --> 00:22:10,680 Speaker 1: I think the two are anonymous. I mean or I 455 00:22:10,680 --> 00:22:12,039 mean that you do one, you do the other. 456 00:22:12,200 --> 00:22:17,200 Speaker 4: Okay, Yeah, And why is it that it's happening by 457 00:22:17,240 --> 00:22:19,920 a guy who created a startup in two thousand and three, 458 00:22:20,160 --> 00:22:26,319 rather than a whole range of sort of industrial autombile 459 00:22:26,359 --> 00:22:27,720 companies around. 460 00:22:27,359 --> 00:22:28,599 Speaker 1: The world, not just here. 461 00:22:28,720 --> 00:22:32,640 Speaker 4: Theod is a successful car company and their own Chrysler right. 462 00:22:33,160 --> 00:22:36,680 Speaker 3: Well, disruptive technology like where you really have a big 463 00:22:36,720 --> 00:22:40,400 technology discontinuity, it tends to come from new companies. You know, 464 00:22:40,920 --> 00:22:43,599 you could ask the same question of why does Google 465 00:22:43,720 --> 00:22:44,680 come from Google? 466 00:22:45,000 --> 00:22:45,640 Speaker 1: Larry and Lari. 467 00:22:47,319 --> 00:22:49,359 Speaker 3: By the way, I've known Larry since before he got 468 00:22:49,440 --> 00:22:51,400 venture funding for for Google. 469 00:22:51,599 --> 00:22:54,200 Speaker 1: Man is he But is he an investor in Tesla? 470 00:22:54,319 --> 00:22:55,079 He is, Larry? 471 00:22:55,079 --> 00:22:58,319 Speaker 3: Answergar investors in Tesla and they drive them or don't drive? Yeah, 472 00:22:58,319 --> 00:22:58,680 they drive them? 473 00:22:58,680 --> 00:22:59,160 Speaker 1: Absolutely? 474 00:22:59,759 --> 00:23:03,079 Speaker 4: Uh it because some of the criticism that comes at 475 00:23:03,240 --> 00:23:05,799 you and the company now is that that you went 476 00:23:05,799 --> 00:23:08,079 out to seek a lot of external financing and did 477 00:23:08,119 --> 00:23:09,480 not reach your goals. 478 00:23:10,039 --> 00:23:13,039 Speaker 1: Well, we we're taken as longer to reach our goals. 479 00:23:13,279 --> 00:23:16,759 Speaker 4: But what was it raise one hundred million to raise 480 00:23:16,799 --> 00:23:17,680 forty or what was it? 481 00:23:17,799 --> 00:23:19,160 Speaker 1: What was the goal? Well? 482 00:23:19,279 --> 00:23:20,799 Speaker 3: I think it's you know, some of some of the 483 00:23:21,440 --> 00:23:24,359 stumbles were were silly mistakes we made ourselves. 484 00:23:24,400 --> 00:23:27,200 Speaker 1: Some of them were market externalities, and. 485 00:23:28,079 --> 00:23:29,559 Speaker 3: We were getting ready to raise or we're in the 486 00:23:29,559 --> 00:23:32,200 facets of raising about one hundred million dollars round. That 487 00:23:32,279 --> 00:23:35,400 began in sort of the summer of last year and 488 00:23:35,440 --> 00:23:39,440 then ran into uh, you know four or five hurricane. 489 00:23:39,960 --> 00:23:42,279 Speaker 1: An economic circumstance that took everything. 490 00:23:42,680 --> 00:23:45,960 Speaker 3: Yeah, and so so that that forced us to scale 491 00:23:45,960 --> 00:23:47,519 back our plans a little bit. We had to do 492 00:23:48,559 --> 00:23:52,160 a layoff, and we had to raise the money internally 493 00:23:52,200 --> 00:23:54,000 from existing investors. I had to put up a lot 494 00:23:54,000 --> 00:23:57,599 of the money personally, and uh think there was just 495 00:23:57,599 --> 00:24:01,000 no money and so that that was it was sort 496 00:24:01,039 --> 00:24:03,599 of a hair raising time for the company. But at 497 00:24:03,599 --> 00:24:06,359 this point we're actually in good shape. We expect to 498 00:24:06,359 --> 00:24:07,920 be profitable in the third quarter. 499 00:24:07,759 --> 00:24:10,039 Speaker 1: And that comes from the success of the roaster, yeah, 500 00:24:10,079 --> 00:24:10,640 and the roads. 501 00:24:10,720 --> 00:24:13,200 Speaker 3: Then we also have a power train supply business to 502 00:24:13,279 --> 00:24:15,759 Diamoner as well for the electric smart that we're doing 503 00:24:15,799 --> 00:24:16,400 with them. 504 00:24:17,640 --> 00:24:19,240 Speaker 1: Make the smart car an electric car. 505 00:24:19,319 --> 00:24:20,920 Speaker 3: Yeah, you know, the smart car was always intended to 506 00:24:20,960 --> 00:24:22,720 be an electric car, but they can never get they 507 00:24:22,759 --> 00:24:26,119 can never get the battery right. So a year and 508 00:24:26,160 --> 00:24:31,000 a half ago we met with Daimler and that I 509 00:24:31,039 --> 00:24:32,680 was trying to convince them to work with us. We actually, 510 00:24:32,920 --> 00:24:34,680 I mean we've really tried hard to work with a 511 00:24:34,680 --> 00:24:39,720 lot of different car companies and what happened, Well, I 512 00:24:39,720 --> 00:24:42,559 guess they think, well, this took the attitude of what, 513 00:24:42,720 --> 00:24:44,640 you know, what if some little startup in Silicon Valley 514 00:24:44,720 --> 00:24:45,599 know that that that. 515 00:24:45,519 --> 00:24:48,160 Speaker 1: We don't know or couldn't do, and what would. 516 00:24:47,920 --> 00:24:50,960 Speaker 3: You say to them, Well, we'd say, drive our car 517 00:24:51,079 --> 00:24:53,359 and look at our technology. And I don't know, it 518 00:24:53,400 --> 00:24:55,559 just never seemed to sort of sink in. But the 519 00:24:56,039 --> 00:25:00,279 diamer uh that put diamelet did. Actually, so I I went, 520 00:25:00,359 --> 00:25:02,839 I went through Stuttgart, went out on the way to 521 00:25:02,880 --> 00:25:06,799 India actually uh and met with the doctor Waver, the 522 00:25:06,799 --> 00:25:08,680 head of Global R and D and and and we 523 00:25:08,720 --> 00:25:09,799 had conversations. 524 00:25:09,359 --> 00:25:10,759 Speaker 1: Said, well, what does it take for us to to 525 00:25:10,880 --> 00:25:12,039 work together. We'd love to do something. 526 00:25:12,079 --> 00:25:14,000 Speaker 3: We'd love to do something with, you know, an affordable 527 00:25:14,319 --> 00:25:17,039 mass market car that you know we ourselves couldn't do 528 00:25:17,160 --> 00:25:20,799 right now because we don't have the cast of it. Yeah, 529 00:25:20,880 --> 00:25:23,039 and and and so I said, what about you know 530 00:25:23,119 --> 00:25:24,680 what what about electric smart? 531 00:25:24,680 --> 00:25:26,279 Speaker 1: And because the Smart was always intended. 532 00:25:26,000 --> 00:25:28,759 Speaker 3: To be an an electric car, and and and what 533 00:25:28,880 --> 00:25:30,559 would take for us to work together? And he said, well, 534 00:25:30,640 --> 00:25:33,000 if you could do a prototype that would that would 535 00:25:33,039 --> 00:25:35,160 really go a long way. So we did. We worked 536 00:25:35,519 --> 00:25:38,240 really hard. The power trying team led by JB. Stravel 537 00:25:38,480 --> 00:25:42,559 don awesome job. And forty days later when when when 538 00:25:42,559 --> 00:25:44,400 they came out to visit, we said here's the car, 539 00:25:44,480 --> 00:25:47,559 take a drive, and they really liked what they saw, 540 00:25:47,720 --> 00:25:48,480 and so what did they do? 541 00:25:48,519 --> 00:25:48,720 Speaker 1: Then? 542 00:25:49,960 --> 00:25:51,759 Speaker 3: Then they said, okay, well let's let's take it sort 543 00:25:51,759 --> 00:25:53,799 of another step further, and that they gave us a 544 00:25:53,799 --> 00:25:56,480 little little R and D contract and eventually got to 545 00:25:56,519 --> 00:25:59,400 the point where where we got a contract for to 546 00:25:59,480 --> 00:26:01,920 supply it thousand cars for them and then if we 547 00:26:01,960 --> 00:26:04,440 do well and that we'll we'll potentially go into you know, 548 00:26:04,440 --> 00:26:05,559 tens of thousands of cars. 549 00:26:05,880 --> 00:26:07,359 Speaker 1: So so that but this is a car. 550 00:26:07,279 --> 00:26:11,480 Speaker 3: That everyone could afford and and could hopefully come quite soon. 551 00:26:11,599 --> 00:26:13,079 Speaker 4: Do you have a profile of the people who you 552 00:26:13,079 --> 00:26:14,720 think will want to buy these roasters? 553 00:26:15,200 --> 00:26:15,440 Speaker 1: Yeah? 554 00:26:15,480 --> 00:26:18,839 Speaker 3: Absolutely, it's it's the kind of person who who likes 555 00:26:18,839 --> 00:26:19,720 the performance car. 556 00:26:20,119 --> 00:26:23,119 Speaker 1: Maybe they want a Porsche or you know. 557 00:26:23,960 --> 00:26:27,799 Speaker 4: You know Lamborghini or you know this car is actually 558 00:26:27,839 --> 00:26:29,839 faster than Lamborghini zero sixty. 559 00:26:30,079 --> 00:26:32,319 Speaker 1: Yeah, it's it's it's I think faster than almost almost 560 00:26:32,359 --> 00:26:33,799 anything anything I know of. 561 00:26:33,880 --> 00:26:36,400 Speaker 3: Yeah, I mean there's like things that the really sort 562 00:26:36,400 --> 00:26:39,240 of million dollars supercars. Obviously those will those will be 563 00:26:39,480 --> 00:26:43,960 like Frienzo exactly. But but it's it's pretty much faster 564 00:26:43,960 --> 00:26:47,000 than any normal, normal sports car, and. 565 00:26:46,680 --> 00:26:48,160 Speaker 1: And it's really easy to drive. 566 00:26:48,319 --> 00:26:50,440 Speaker 3: If you want a hyperformance car with a clean conscience, 567 00:26:50,640 --> 00:26:54,319 this is the only option. And the sedan is going 568 00:26:54,359 --> 00:26:56,960 to be for someone that wants a great sedan and 569 00:26:57,519 --> 00:27:00,599 also you know, clean conscience, and it's it's going to 570 00:27:00,599 --> 00:27:01,279 be cheap and operate. 571 00:27:01,359 --> 00:27:01,519 Speaker 1: Then. 572 00:27:01,680 --> 00:27:05,680 Speaker 4: Yeah, so you are, as you well know, a controversial 573 00:27:05,680 --> 00:27:06,319 guy as well. 574 00:27:08,079 --> 00:27:10,839 Speaker 1: I try to I try not to be controversial. Controversy 575 00:27:11,640 --> 00:27:12,119 it finds you. 576 00:27:13,200 --> 00:27:17,799 Speaker 4: It finds you because you think big. You're a software 577 00:27:17,880 --> 00:27:23,759 guy who has been successful in the private sector. Yeah, 578 00:27:23,880 --> 00:27:27,079 you know, and see no reason you can't do things 579 00:27:27,119 --> 00:27:28,759 that other people have not been able to do. No, 580 00:27:28,799 --> 00:27:32,359 a lot of how large the corporate enterpise create the 581 00:27:32,400 --> 00:27:38,519 best electric car or be put privately astronauts in space, 582 00:27:38,920 --> 00:27:41,640 which you say you will do in two years. 583 00:27:42,000 --> 00:27:44,920 Speaker 3: Well, yeah, it sort of depends on when NASA asked 584 00:27:45,000 --> 00:27:48,759 us to do that. If so, if NASA tunes on 585 00:27:48,799 --> 00:27:51,279 the access to do that this year, which we're hopeful 586 00:27:51,319 --> 00:27:55,200 that they will. The White House has a convened a 587 00:27:55,240 --> 00:27:57,680 panel on the future of human spaceflight that that panel 588 00:27:57,720 --> 00:27:59,400 is going to make their recommendations in a few months. 589 00:27:59,680 --> 00:28:02,000 Speaker 1: I hope though some of those recommendations will be favorable to. 590 00:28:02,319 --> 00:28:05,960 Speaker 3: SpaceX, because the alternative is, if SpaceX doesn't do it, 591 00:28:06,319 --> 00:28:09,119 we will be entirely dependent on the Russians to carry 592 00:28:09,160 --> 00:28:12,039 our astronauts to the space station after twenty ten, and 593 00:28:12,480 --> 00:28:14,559 billions of dollars will be spent on essentially a soul 594 00:28:14,640 --> 00:28:17,839 source situation to the Russians, which I think is outrageous. 595 00:28:17,839 --> 00:28:19,599 Speaker 4: And you haven't taken advantage of the opportunity to do 596 00:28:19,599 --> 00:28:21,119 in space yourself, have you? 597 00:28:21,160 --> 00:28:22,480 Speaker 1: No? I have not. Have you wanted to? 598 00:28:23,680 --> 00:28:25,960 Speaker 3: If it was if it was purely a matter of 599 00:28:26,039 --> 00:28:28,160 personal interest, I would I would have done it already. 600 00:28:28,200 --> 00:28:30,680 Speaker 4: Yeah, I mean I do want it, I want interested 601 00:28:30,720 --> 00:28:34,759 in that or no is expressed some interesting, some interesting. 602 00:28:34,839 --> 00:28:40,160 Speaker 3: Yes, Yeah, I would like to go at some point, 603 00:28:41,680 --> 00:28:45,519 but it's I'm also in the point where it's difficult 604 00:28:45,519 --> 00:28:46,519 for me to take personal risks. 605 00:28:46,519 --> 00:28:49,039 Speaker 1: I used to take a lot of personal risks of children. 606 00:28:49,559 --> 00:28:53,880 Speaker 3: I've got my kids and responsibilities for the companies as well, 607 00:28:53,920 --> 00:28:56,400 and so if I, if I do things for they 608 00:28:56,400 --> 00:28:58,640 have personal risk. At this point, I risked more than 609 00:28:58,680 --> 00:28:59,880 my own moment. 610 00:29:01,079 --> 00:29:01,440 Speaker 1: You've had. 611 00:29:01,480 --> 00:29:03,799 Speaker 4: How many trips do you have? One set of trips 612 00:29:03,400 --> 00:29:04,799 on one set of twins? 613 00:29:04,839 --> 00:29:09,039 Speaker 3: Yeah, they have the twins Smithy in New York. 614 00:29:09,079 --> 00:29:12,319 Speaker 1: Actually, so they like they like the car. 615 00:29:12,759 --> 00:29:15,200 Speaker 3: Yeah, yeah, they can't drive and they can't go on 616 00:29:15,240 --> 00:29:17,359 the road, so because it doesn't you know, it's not 617 00:29:17,519 --> 00:29:19,480 very kit friendly, but. 618 00:29:18,839 --> 00:29:21,000 Speaker 1: But you know, it's not very good friendly. You're right. 619 00:29:21,039 --> 00:29:24,480 Speaker 4: The Sedan will be ideal for them. So much success 620 00:29:24,519 --> 00:29:27,119 to you. Thank you for coming, thank you for joining us. 621 00:29:27,319 --> 00:29:28,079 See you next time.