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Speaker 1: Latest interview of Elon Muss.

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Speaker 2: Yeah, be called X, but it would be the most

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valuable company in the world. On the other hand, now

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that's not all good though. On the other hand, then

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a lot of super talented people would have stayed and

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because because people got acquired by eBay not long after,

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like you know, so there was like the PayPal coup

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at the end of two thousand, eighteen months later it

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was acquired by eBay. So and and then but you know,

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it feels to think of the companies that came out

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of PayPal, so called PayPal in Mafia, the YouTube you know,

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those that Stephen Chad created YouTube, Jerry Saltman created yelp,

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Interpeter created Volunteer, and a bunch of other things. There's

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David Sachs created this company, and Reed Hoffmann created LinkedIn.

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Speaker 3: It's almost like all that market cap still exists, but

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now it's allocated on all these other tech companies instead

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of X dot com.

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Speaker 4: Yeah.

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Speaker 2: So in retest, like I sometimes like it's maybe a

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good thing that uh X wasn't vall wasn't achieve those

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things because all these other companies would have at least

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been delayed or may not have existed.

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Speaker 5: There's definitely been kind of a resurgence and interest as

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we get into kind of cryptographic you know, money and

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bitcoin and all that, like interest in this idea, you know.

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And it's interesting, like software hasn't even the banking industry yet.

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Software has eaten a lot of industries or some that

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it just hasn't, and bankings still.

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Speaker 2: There, you know, stripes, stripes eating them slowly, but pretty

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good job. The mags are in trouble if if it's

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not stripe as be somebody else.

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Speaker 3: And you love code, but you don't seem to be

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as bullish on bitcoin. Do you have any could you

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break down like why, because you're talking about this big

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database that's more secure for faster transactions. It seems like

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bitcoin's hitting at least some of those.

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Speaker 4: I'm neither here there on bitcoin.

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Speaker 5: Yeah, yeah, what do you think when you read like

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Satoshi's white paper for the first time, we're like it's pretty.

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Speaker 4: Interesting or.

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Speaker 2: Those pretty clever. It's it's it's just like the things

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this always gets like the crypto people angry.

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Speaker 4: But I think.

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Speaker 2: There are there are there are transactions that are not

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within the balance of the low and those and they're

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obviously many of those in different countries, and normally cash

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is used for these transactions. But but but in order

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for illegal transactions to occur those the cash.

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Speaker 4: Must also be used for legal transactions.

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Speaker 2: You need an illegal to legal bridge.

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Speaker 4: That's where crypto comes in.

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Speaker 1: So is it kind of the darknet stuff?

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Speaker 2: It can't be entirely dark because otherwise how do you

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buy normal stuff? And cash these days is used just

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much rarer. It's hard, it's like increasingly difficult use cash.

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Some places you can't use cash at all. So there's

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a there's a forcing function for transactions that are illegal,

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quasi illegal and in some cases legal, but the've got

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to have some it's got to be both legal and illegal.

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It doesn't count otherwise otherwise you simply it can't just

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be transactions within an legal economy, because how do you

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buy like, you know, food and a house or something,

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you know, So you must have a legal to illegal bridge.

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So where I see crypto as as effectively as a

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replacement for cash, but not as a replacement for as

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a primary not not as I do not see crypto

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being the primary database. So now this is this is

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something that's taken to me like I'm being judgmental about crypto,

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and it's actually I think there's a lot of things

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that are illegal that shouldn't be illegal. But you know,

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so it's not as the I think that sometimes governments

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just have too many laws about that they should I

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should have so many things.

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Speaker 4: That are illegal.

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Speaker 1: Didn't you say that on Mars there'd be less loss hopefully?

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Speaker 6: Yeah, you also propose of direct democracy on Mars.

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Speaker 2: I think probably that's the best, I mean, probably the

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best thing.

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Speaker 4: Mars technocracy, the most technocracy.

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Speaker 3: And you want to make laws super short and simple, right.

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Speaker 2: Well, yeah, I mean like if people can't understand laws,

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then how do you then what's usually going to happen

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is some special interests in a bamboos of public with

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long laws. Yep, and then the lord is like reading

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this law is like the size of the Lord of

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the Rings, but a very boring version of it.

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Speaker 5: Like the dealership thing is just crazy to me, you know,

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like America is supposed to be competitive, free market.

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Speaker 4: It's weird, right, yeah, absolutely, so anyway, it's just sick.

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Speaker 2: You want to keep the lawder short and give them

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some kind of sunset period so they don't just stay

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there forever. I'd like it's just accumulate over time and

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just eventually it'll be unwieldy. So the laws should have

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some time prime associated with them. They automatically go away.

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So I mean, it's just keep a little short to

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avoid trickery and and sort of special interests that ultimately

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does not matter for the public. And and then I

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think direct directmocracy is less susceptible to corruption than representative democracy.

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So you know, corruption just being like to what degree

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is this actually being taken that do not serve, that

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generate the interests of the population, you know, do not

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need a results in a net increase in population happiness

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as a whole. So that's that's that's why I think

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probably the direct is better.

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Speaker 4: And then you.

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Speaker 2: Have things in real time, so you know, if you

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want to vote on something, you just you can vote on.

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Speaker 4: It real fast.

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Speaker 2: Probably make it, I would say, make it easier to

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get rid of laws then to put them in because

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these things tend to have a lot of inertia and

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to have a bias towards having laws go away and

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not be there, you know, so like maybe it takes

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sixty percent to put alaw in place for forty percent

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to remove it.

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Speaker 4: To theming like that. Yeah, let's try it. You know,

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see what happens.

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Speaker 1: The bills are extremely long that they pass. No one

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reads them.

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Speaker 2: Yeah, hardly anyone in Congress has read the bill. And

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if you even if they've read the bill, if you

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quized them on the details.

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Speaker 4: They would not.

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Speaker 1: They'll find their page.

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Speaker 4: Yeah, there's like, tell me what's Yeah this there was

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no idea.

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Speaker 3: It seems kind of alarming that that's like the status

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quo and everyone just accepts it.

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Speaker 2: But yeah, these laws tend to be written by industry

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groups as well, so that that they'll write the law

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and then and then interact with the Congressional staff and

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but most of the work would be done by the

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industry groups, and so they're going to write laws that

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entrench their position.

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Speaker 3: It's like the people are the players buying the ref

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like you were saying earlier, Is that exactly so.

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Speaker 2: You get the regultary capture of the exactly. Yeah, the

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players shouldn't be paying the ref salary type of thing. Well,

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the REF should be thinking I'm going to retire and

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get paid by the players. So it's kind of amazing

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that it works as well as it is, given all

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these issues so yeah, so then hey, hell I end

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up getting valaria and anyway in two thousand and one, yeah,

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two thousand.

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Speaker 5: And one, Yeah, us about this the malaria thing that

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was you went on vacation, right, yeah, we're South Africa

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with Kimball.

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Speaker 2: Actually yeah, it's crazy, and then came back and had

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like a near death case of hilaria.

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Speaker 7: Yeah, we live grew up in So Africa.

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Speaker 8: We'd go to the bushfelt all the time, to what

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you guys call Safari, and you just we just had

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a house in the bush, used to go there every

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every few weeks or so. I don't think we ever

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took malaria tablets.

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Speaker 4: Yeah, I think.

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Speaker 8: And then suddenly yeah, right, like and so we were

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we were told to and we did take malaria tablets

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them as well. And and when you got back, they

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was in Stanford and they couldn't figure out what was

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wrong with him. Our uncle who's a doctor in South Africa,

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he has malaria. And they's like, no, no, he doesn't

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have malaria. We checked check again. Malaria kind of hides

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in the body.

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Speaker 6: And then.

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Speaker 5: So this was after PayPal got started.

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Speaker 2: Oh this is two thousand and one, so sort of

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after the pay PayPal coups. I was, I was on

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the PayPal board and I was providing, you know, providing

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sort of product advice and whatnot. But in December, late

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December two thousand, went on a trip to South Africa.

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Came back January, early January two thousand and one. I

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had a spare case malaria almost I had next to.

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Speaker 9: Five days and yellow. And he just said early morning

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til later night, just waiting to see. And then they

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seem to be get some some jamas for him. And

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the closest store was based for lease or something, so

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I just got into some pajamas and then then the

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next thing, after five days rod and he said, so

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these buddies onamas.

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Speaker 1: And you were sleepy, I mean, like you're it affected

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your brain? That that harsh?

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Speaker 4: Yeah, no, it was bad. It's really bad.

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Speaker 5: Does that a change your perspective?

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Speaker 4: How did the like influence you after that? I don't know.

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I don't think it changed me that much. Would you say, no,

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I don't think it did.

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Speaker 2: Yeah, but how many times have you been on I

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lost like fifty pounds though it was great now.

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Speaker 4: No more vacation, so well, yeah it was. It was.

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Speaker 2: It took me like almost six months to get back

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to normal sou And then in two thousand and one,

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I was thinking about, you know what you next, and.

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Speaker 4: And I thought the.

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Speaker 2: You know, this is like okay, sustainable energy, like a

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basical electric cars, solar space. And then a friend of

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mine asked me, you know, so what are you gonna

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do next? I said, well, you know, that's so I

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would love to do something in space, but I didn't

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think anything of there's anything that a private individual could

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do in space. But at least I'm gonna go on

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the NASA website and find out when people are going

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to Mars. And I go on the net web NAST

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website and it's nowhere to be found, and so I'm like, well,

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this is pretty weird, and then ask that it was

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actually a NASA policy not to talk about it.

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Speaker 4: Really, yeah, that's time. Why why was that?

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Speaker 2: Do you think what I sold is that when George

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Bush the first was when he was elected, he said

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he has not NASA to put together a plan to

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send people to Mars. In ninety days, they came back

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of the plan and it was five hundred billion dollars,

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and it says all that this is like political suicide.

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So then after that talk of man missions to Mars

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were banned.

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Speaker 4: That's what I sold.

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Speaker 2: So anyway, so it's like, well, you know, maybe there's

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something that can be done here to get the public

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excited about going to Mars.

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Speaker 4: And if I get the public excited, then they will

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vote mass that I have more funding. And so the.

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Speaker 2: Original idea for SpaceX was just to have a philanthropic

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mission to Mars.

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Speaker 8: Yeah, just started as a graphic of a of a

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pot plant. You just need to get the pot plan

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to Mars, you know. It was like an inspiration sure,

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just as a as a as a way to prove

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to the world that it could be done.

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Speaker 4: Yeah.

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Speaker 2: So the mission was called Mars Oasis. There was seas

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and dehydrated nutrient l that would hydrate upon landing. You

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get this great picture of green plants right background and

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be like the first sort of life as we know.

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Speaker 4: It on Mars.

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Speaker 2: And the you can also learn, you know, a lot

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about what does it take to keep plants alive and

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have a little miniature greenhouse on on sof to Mars.

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So that's that's why I initially pursued as as like

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a way to basically increase NASA's budget.

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Speaker 4: That was.

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Speaker 2: It wasn't let's create a space company. It was how

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do we get Nasta's budget increased so we can go

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sim people tomorrows. And I've trying to figure out how

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to get this thing launched. And the rockets, the European

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and US rockets are too expensive and I can afford them.

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So I went to Russia to try to buy some

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ICBMs in two thousand and one, literally, and the keptu

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raising the price on me, and it was quite being

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quite difficult, and I said, I, you know, I could

250
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afford to pay like nine million dollars for ICBM, but

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not twenty because we need to do two of these

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missions because odds are good that one would fail and

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then it could have a negative impact potentially. So that

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was pretty weird. Being muscular for buy ICBMs in two

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thousand and one.

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Speaker 4: That's amazing.

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Speaker 6: Negotiate to buy an ICPN.

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Speaker 4: Yeah.

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Speaker 2: I caught up the military and say, well, you know

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they're gonna go They're gonna get rid of these things

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anyway because of the introduction treaties. So it's like, if

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you listen, if you're gonna throw it away, I'll buy

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take it off your hands. You know, they have to.

264
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It was like s S eighteen to never. It was

265
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the biggest nuclear mussile in the Russian fleet. And but anyway,

266
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they're know decommissioned these things, so why why not just

267
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tell me them it's dead? And then there's very time

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I talked to them, the price you go off, and

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I'm like, this is is not good because you know,

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even if once we do a deal, we're probably gonna

271
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get shrafted afterwards too, and this is the pre deal shafting. Well,

272
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it's like it's what's going to be after or its

273
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you know, when after I've given them money and it's good,

274
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so so that I yeah, so, And then I started

275
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looking into it as like why rockets cost so much?

276
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And there's nothing fundamental about why did you cost so much?

277
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If you add up the materials let's say, if you

278
00:16:48,399 --> 00:16:51,000
you know, it's not like the word materials cost that much.

279
00:16:51,159 --> 00:16:52,720
Really just need to figure out a smart way to

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get the materials in that shape, and and then you

281
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need we need to make rockets re usable. So like

282
00:17:00,159 --> 00:17:02,440
in any form of transport, if it's not reusable, it's

283
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extremely expensive. You know, if cars were single use, you know,

284
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and you need a round trip, you know, for a

285
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car for twenty thousand dollars, then you around trip because

286
00:17:12,759 --> 00:17:13,640
forty thousand dollars.

287
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Speaker 4: That's crazy. So it's the same thing is true for

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aircraft and boats and rockets and everything.

289
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Speaker 2: So so there were the rockets were expensive even as

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expendable things, but then they were also not reusable. So

291
00:17:31,559 --> 00:17:33,599
there's no way we're going to have a city on

292
00:17:33,640 --> 00:17:40,440
Mars unless we can have reasonable, low cost, reliable rockets.

293
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That's fundamentally the issue. So so I came to conclusion

294
00:17:45,880 --> 00:17:49,720
that even if this Males Away susmission was successful, it

295
00:17:49,759 --> 00:17:55,160
would still knock results in. It would not materially further

296
00:17:55,240 --> 00:17:59,720
the goal of being a multiplant species because the rocket

297
00:17:59,759 --> 00:18:03,200
technology was not good enough and it was not getting better.

298
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Speaker 4: In fact, it was arguably getting worse.

299
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Speaker 2: So so the real thing that needed to be solved

300
00:18:09,039 --> 00:18:13,279
here is reusable rocketry and lowering the cost of access

301
00:18:13,279 --> 00:18:17,599
to space, and that that's like, okay, well I'm gonna

302
00:18:17,640 --> 00:18:23,960
try to do that. So I've got SpaceX started in

303
00:18:24,079 --> 00:18:30,319
early two thousand and two. Basically I was living in

304
00:18:30,359 --> 00:18:34,200
pala Alta at the time, but most of the engineering

305
00:18:34,240 --> 00:18:37,680
expertise was in southern California, so that's why I moved

306
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to LA.

307
00:18:40,559 --> 00:18:43,599
Speaker 5: Did you ever have any like even inkling of imagination

308
00:18:43,759 --> 00:18:46,039
that you could be doing, you know, a dozen launches

309
00:18:46,079 --> 00:18:50,160
a year and being contracted with NASA? Is that even

310
00:18:50,240 --> 00:18:50,519
like it?

311
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Speaker 4: I thought that was fair, I know, I thought we

312
00:18:52,480 --> 00:18:56,440
had you know, terms of success or something like that.

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Speaker 6: You ended up being chief engineer, right, because no one

314
00:19:00,319 --> 00:19:02,119
wanted to give up their secure jobs of.

315
00:19:02,240 --> 00:19:09,359
Speaker 2: U I and something exactly I actually tried to hire. Basically,

316
00:19:11,039 --> 00:19:15,440
there's been a number of tents at doing a a

317
00:19:15,440 --> 00:19:18,400
private rocket company or commercial rocket company, and it all

318
00:19:18,559 --> 00:19:24,000
or really they all failed effectively. And then that's to

319
00:19:24,359 --> 00:19:26,279
the degree that it was like a joke in the

320
00:19:26,519 --> 00:19:29,960
aerospace industry, like how do you make a large portion

321
00:19:30,599 --> 00:19:33,559
large portion in the rock you know, start with the

322
00:19:34,400 --> 00:19:35,599
how do you make how do you make a small

323
00:19:35,640 --> 00:19:40,519
portion in the rocky industry? Start with a large one.

324
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Speaker 7: Going to be smaller business?

325
00:19:44,319 --> 00:19:48,599
Speaker 2: Yeah, that's how many jokes. So many times just jumped

326
00:19:48,599 --> 00:19:54,039
to the punchline, you know. So the Yeah, it was

327
00:19:54,119 --> 00:19:56,880
very hard to recruit people because I had not built

328
00:19:56,920 --> 00:20:02,920
any physical hardware before, and I kept being called Internet

329
00:20:02,920 --> 00:20:08,160
guy for the longest time for ages. As the finally

330
00:20:08,200 --> 00:20:10,319
start I made for the first ten years, they're calling

331
00:20:10,359 --> 00:20:18,759
me Internet guy, but we basically at Internet entrepreneur slash fool.

332
00:20:21,039 --> 00:20:22,920
He's trying to start a Rockey company. That's what if

333
00:20:22,920 --> 00:20:26,039
an idiot. That was generally how it went. So it

334
00:20:26,079 --> 00:20:29,319
was quite hard to recruit people, and you know, especially

335
00:20:29,359 --> 00:20:32,039
if something's got like a secure job at you know,

336
00:20:32,079 --> 00:20:35,920
buying a lockeed or something like that, then trying to

337
00:20:35,960 --> 00:20:39,279
recruit them to be you know, chief engineer of us

338
00:20:39,400 --> 00:20:40,319
started Rocket company.

339
00:20:40,359 --> 00:20:41,119
Speaker 4: I was so hopeless.

340
00:20:42,079 --> 00:20:46,079
Speaker 2: So basically no nobody, nobody who was who was good

341
00:20:46,480 --> 00:20:48,319
was willing to join, and there was no point in

342
00:20:48,400 --> 00:20:52,559
hiring somebody wasn't good. So I ended up being chief engineer,

343
00:20:54,200 --> 00:20:56,240
you know, which is yeah.

344
00:20:56,319 --> 00:20:57,200
Speaker 4: So the.

345
00:20:59,359 --> 00:21:01,440
Speaker 2: First three launch has failed and probably if I had

346
00:21:01,480 --> 00:21:05,240
been better than we would have gotten to at BIT sooner.

347
00:21:05,440 --> 00:21:08,960
So it took me a while to learn all these things.

348
00:21:09,079 --> 00:21:12,000
Speaker 4: So from books or books and talking to people.

349
00:21:12,200 --> 00:21:14,880
Speaker 1: Did you go to Utah and talk to anybody like it?

350
00:21:15,359 --> 00:21:16,359
At he Orbital?

351
00:21:17,279 --> 00:21:17,759
Speaker 4: Oh? Yeah?

352
00:21:17,839 --> 00:21:27,279
Speaker 2: Visited atk Orbital was Dallas, Virginia, So yeah, I visited

353
00:21:27,319 --> 00:21:27,720
a t K.

354
00:21:28,680 --> 00:21:34,480
Speaker 4: I visited Orbital and the Orbital.

355
00:21:34,160 --> 00:21:37,160
Speaker 2: Had had a success with the solid rocket based Pegasus,

356
00:21:38,799 --> 00:21:41,839
but they'd also gotten like an eight launch deal from Darper.

357
00:21:43,000 --> 00:21:45,319
So you're like, okay, if you've got if you're starting

358
00:21:45,319 --> 00:21:47,119
off with basically an eight launch s deal from Darper,

359
00:21:48,319 --> 00:21:52,200
that's a good situation. And we did not have a

360
00:21:52,279 --> 00:21:54,640
large seal from anyone.

361
00:21:55,160 --> 00:21:56,599
Speaker 4: And Pegasus is a.

362
00:21:58,200 --> 00:22:02,079
Speaker 2: I mean, there's some claar engineering with Pegasus, but fundamentally

363
00:22:02,240 --> 00:22:04,759
I think launching rockets from planes is not tensible.

364
00:22:06,440 --> 00:22:08,440
Speaker 4: It sounds like it would be a good idea, but

365
00:22:08,480 --> 00:22:08,759
it's not.

366
00:22:10,240 --> 00:22:13,519
Speaker 2: And then even Oval went away from doing that with

367
00:22:13,680 --> 00:22:15,920
their as soon as you get past certain size that

368
00:22:16,920 --> 00:22:17,759
went to ground launch.

369
00:22:18,200 --> 00:22:21,480
Speaker 1: I was reading somewhere that at if I call Morton

370
00:22:21,519 --> 00:22:25,839
that they were doing snowcats, they were doing ski lifts,

371
00:22:25,839 --> 00:22:27,920
and they sold that to the man who made the

372
00:22:27,920 --> 00:22:31,799
DeLorean heat Really yeah, I just read that in their Wikipedia.

373
00:22:31,799 --> 00:22:33,359
I'm like, oh, that's fascinating. When to come around.

374
00:22:36,799 --> 00:22:48,799
Speaker 2: So yeah, So yeah, so I got SpaceX going, and

375
00:22:50,599 --> 00:22:53,880
that was very difficult.

376
00:22:54,440 --> 00:23:01,079
Speaker 4: We got the Falcon one rocket built. It was very simple.

377
00:23:01,160 --> 00:23:05,359
Speaker 2: It's the simplest overall rocket that's a liquid fuel, so

378
00:23:05,680 --> 00:23:11,880
it had the potential for reusability, for useful reasbility, and

379
00:23:11,920 --> 00:23:17,079
then yeah, we had three failures. Finally got to orbit

380
00:23:17,839 --> 00:23:23,200
at the end of two thousand and eight, so.

381
00:23:22,319 --> 00:23:27,200
Speaker 7: That was incredible going down to Quadalon and watching you.

382
00:23:27,200 --> 00:23:28,440
Speaker 4: Wrote it like a blog for a while.

383
00:23:28,680 --> 00:23:28,880
Speaker 2: Yeah.

384
00:23:28,920 --> 00:23:30,079
Speaker 7: I actually still have it up there.

385
00:23:30,599 --> 00:23:33,519
Speaker 8: It's a little and it's an old, old blogging platform

386
00:23:33,519 --> 00:23:37,720
that Google still keeps alive. It's called quas Rockets dot

387
00:23:37,759 --> 00:23:39,519
blogspot dot com.

388
00:23:39,599 --> 00:23:41,319
Speaker 4: I think it's gonna get a lot of traffic soon.

389
00:23:42,039 --> 00:23:42,960
Speaker 7: Yeah, totally say it.

390
00:23:43,079 --> 00:23:43,480
Speaker 4: Check it out.

391
00:23:43,519 --> 00:23:43,960
Speaker 7: It's all there.

392
00:23:44,160 --> 00:23:48,640
Speaker 8: It's a photos and photos of There was one photo

393
00:23:48,640 --> 00:23:50,880
of Elaine picking up a satellite.

394
00:23:51,799 --> 00:23:53,839
Speaker 7: We launched the rocket and the rocket.

395
00:23:53,519 --> 00:23:56,000
Speaker 8: Exploded, which was very, very very sad.

396
00:23:56,119 --> 00:23:56,920
Speaker 7: Everyone's excading.

397
00:23:56,960 --> 00:23:59,759
Speaker 8: People are pouring their heart and sold into the rocket

398
00:24:00,400 --> 00:24:05,319
and the satellite was i think in the US Navy

399
00:24:06,119 --> 00:24:10,559
Air Force Academy and it was thrown out of the

400
00:24:10,599 --> 00:24:13,960
rocket and fell through the roof of the hangar.

401
00:24:14,319 --> 00:24:19,000
Speaker 2: Well, this is like we really thinking exactly, it's like

402
00:24:19,039 --> 00:24:21,519
a like a like a stand up small tool shed.

403
00:24:21,799 --> 00:24:23,240
Speaker 1: Yeah, it wasn't supposed to do that.

404
00:24:24,359 --> 00:24:29,519
Speaker 4: Maybe the size of this room. The rocket it had.

405
00:24:29,880 --> 00:24:33,200
Speaker 2: This is the first Lord failure, so the it had

406
00:24:33,240 --> 00:24:37,599
a there's a cracked limited beanut on that that cracked

407
00:24:38,359 --> 00:24:42,160
during during leftoff and created so the engine there was

408
00:24:42,160 --> 00:24:45,039
an engine fire the this this wouldn't have been the

409
00:24:45,119 --> 00:24:48,119
end of the world, but there was a one of

410
00:24:48,160 --> 00:24:53,319
the the helium lines was steel mesh overapped with the

411
00:24:53,759 --> 00:24:57,640
kevlost sleeve and it melted the sleeve the.

412
00:24:59,759 --> 00:25:00,359
Speaker 4: And so we.

413
00:25:00,480 --> 00:25:06,279
Speaker 2: Lost pressure, pneumatic pressure which caused the engine ballast to close.

414
00:25:07,480 --> 00:25:11,359
So about thirty seconds after lift off, the engine shot

415
00:25:11,400 --> 00:25:15,680
itself off due to the engine fire, and then it went.

416
00:25:15,960 --> 00:25:20,559
It went ballistic and it basically smashed in the rocks

417
00:25:20,640 --> 00:25:27,119
just on a calple hundred Feueralk shore and when it

418
00:25:27,200 --> 00:25:31,880
when it's it was quite a big explosion. Actually in

419
00:25:31,920 --> 00:25:36,559
an explosion. The satellite, which was in a faring, went

420
00:25:36,559 --> 00:25:40,519
through the faring on a ballistic arc back onto the island,

421
00:25:41,519 --> 00:25:45,079
smashed through the tool shared roof and onto the floor

422
00:25:46,039 --> 00:25:50,839
in a pretty reasonable condition, like it wasn't totally gnarled.

423
00:25:52,599 --> 00:25:53,200
Speaker 10: We use it.

424
00:25:53,400 --> 00:25:58,640
Speaker 2: So we gave them back their satellite, so like we

425
00:25:58,680 --> 00:26:03,319
didn't lose your satellites may need summer affair, but it

426
00:26:03,359 --> 00:26:09,440
was so improbable that the satellite would come back. We

427
00:26:09,519 --> 00:26:15,319
had a couple more failures after that. Yeah, two thousand

428
00:26:15,319 --> 00:26:16,960
and eight was particularly diffult year because we had the

429
00:26:16,960 --> 00:26:21,319
third failure in two thousand and eight, the tales around

430
00:26:21,400 --> 00:26:24,960
financing round collapsed such a nightmare and I got divorced,

431
00:26:25,000 --> 00:26:25,880
and it was.

432
00:26:26,359 --> 00:26:29,519
Speaker 8: I think two thousand and eight was bad year, really

433
00:26:29,599 --> 00:26:30,119
really bad.

434
00:26:32,079 --> 00:26:36,640
Speaker 4: Yeah, that year. Yeah, I don't think anyone could. I

435
00:26:36,680 --> 00:26:37,759
think twenty eighteen.

436
00:26:39,039 --> 00:26:40,839
Speaker 7: I think twenty eighteen was worse.

437
00:26:41,079 --> 00:26:43,000
Speaker 10: What's well with the Model three ramp?

438
00:26:43,079 --> 00:26:46,359
Speaker 4: Right? Oh, there were so many things that happened so strong,

439
00:26:46,440 --> 00:26:47,039
it's insane.

440
00:26:47,400 --> 00:27:01,519
Speaker 2: Yeah. So yeah, sorry, so we're in two thousand and two. Sorry,

441
00:27:01,640 --> 00:27:08,920
space X moved down to l A and it was

442
00:27:08,960 --> 00:27:11,279
just it was pretty fun in the beginning, Like generally

443
00:27:11,279 --> 00:27:14,559
start ups are pretty fun in the beginning, and then

444
00:27:14,559 --> 00:27:19,759
you go through the you know, chasm of doom, Yeah,

445
00:27:22,039 --> 00:27:23,599
chasm of doom, Yeah.

446
00:27:25,319 --> 00:27:27,480
Speaker 4: Exactly, it's rough despair.

447
00:27:28,480 --> 00:27:31,079
Speaker 2: Yeah, it's usually always like everyone's like super optimistic and

448
00:27:31,119 --> 00:27:37,039
excited for first year or so, and then the then

449
00:27:37,279 --> 00:27:41,039
things started to go awry and there's usually many years

450
00:27:41,039 --> 00:27:48,640
of grief before there's finally day dawns. So yeah, so

451
00:27:48,960 --> 00:27:56,640
it's like two thousand and two, and then about in

452
00:27:56,720 --> 00:28:05,200
two thousand and three is when h Rosen and JB.

453
00:28:05,359 --> 00:28:07,599
Strabo called me up and said, hey, we want to

454
00:28:07,640 --> 00:28:14,039
have lunch. I want to say, hold Rosen. I think

455
00:28:14,079 --> 00:28:21,799
that's his name, but he he rarely had. He was

456
00:28:21,839 --> 00:28:29,039
a pioneer in space technology and electric vehicles, which crossover uh,

457
00:28:29,440 --> 00:28:32,720
and he'd done some Rosen Motors, which is like a

458
00:28:32,720 --> 00:28:37,599
sort of an electric vehicle company, and but he'd also

459
00:28:38,079 --> 00:28:42,519
been pioneer in ge stationary satellites. So he called me

460
00:28:42,599 --> 00:28:47,279
up and said, hey, let's have lunch, like lunch at

461
00:28:48,240 --> 00:28:53,240
like Smith and Lansky or something in in Alsigondo where

462
00:28:53,319 --> 00:28:54,200
SpaceX started.

463
00:28:55,519 --> 00:28:56,839
Speaker 4: And so.

464
00:28:58,319 --> 00:29:03,759
Speaker 2: Stravel and Rosen talking about space stuff, and then so

465
00:29:03,759 --> 00:29:06,680
I was talking about electric cars, and I said, oh, yeah,

466
00:29:06,680 --> 00:29:08,359
you know, so I was gonna be working on electric

467
00:29:08,359 --> 00:29:14,440
car technology at Stanford and and JB said, you know,

468
00:29:14,480 --> 00:29:18,799
we should take a drive in the Tea zero from

469
00:29:18,839 --> 00:29:23,160
AC propulsion, and I was I was like, yeah, you know,

470
00:29:23,680 --> 00:29:27,559
because the timing is like lettin my own factories was

471
00:29:27,599 --> 00:29:31,200
really like the critical breakthrough needed for compelling electric cars.

472
00:29:32,279 --> 00:29:34,880
And so I was like, okay, I'll go try out there.

473
00:29:35,200 --> 00:29:40,920
T zero, which had spec similar to what we eventually

474
00:29:40,920 --> 00:29:47,480
bought to markets tells the road store. So then I so, yeah,

475
00:29:47,519 --> 00:29:49,519
so I got I got a ride in the T zero,

476
00:29:51,000 --> 00:29:55,759
and then I tried to convince Ala Caconi and Tom

477
00:29:55,839 --> 00:30:01,319
Gage to commercialize the T zero. Now that the teaser,

478
00:30:01,519 --> 00:30:05,559
and there's like lots of stuff online about it. You know,

479
00:30:05,680 --> 00:30:08,680
it didn't have doors or a roof, so clearly you

480
00:30:08,680 --> 00:30:13,279
need to add those things or any safety systems. And

481
00:30:13,359 --> 00:30:15,960
it was very unreliable because it was just like a

482
00:30:16,000 --> 00:30:17,000
sort of a proof of concept.

483
00:30:17,079 --> 00:30:20,039
Speaker 4: Basically it was basically like canned assembled.

484
00:30:20,079 --> 00:30:22,359
Speaker 5: You guys really had trouble scaling it.

485
00:30:24,559 --> 00:30:27,599
Speaker 2: It's I mean it literally didn't have doors or a roof,

486
00:30:28,319 --> 00:30:34,119
or any airbags or an effective cooling system for the battery,

487
00:30:34,799 --> 00:30:38,000
and it was not safe, and it was very unreliable

488
00:30:38,759 --> 00:30:42,839
breakdown like you it need to be baby buy an

489
00:30:42,839 --> 00:30:44,400
engineer or would not you can use it.

490
00:30:45,759 --> 00:30:49,039
Speaker 4: So but nonetheless, it did get like zero.

491
00:30:48,880 --> 00:30:52,359
Speaker 2: To sixty I think, you know, under four seconds two

492
00:30:52,359 --> 00:30:54,480
and fifty mile range.

493
00:30:55,839 --> 00:30:57,880
Speaker 4: It was enough to convince you that.

494
00:30:57,799 --> 00:30:58,680
Speaker 10: It was possible.

495
00:30:59,039 --> 00:31:03,599
Speaker 2: I mean it was possible because if you go from

496
00:31:04,000 --> 00:31:09,319
the interests you have lead Acid to to Letimon, you've

497
00:31:09,359 --> 00:31:11,759
got about a four x energy dwncity improvement. So you've

498
00:31:11,759 --> 00:31:13,440
got if you've got to say, a sixty mile range

499
00:31:13,519 --> 00:31:15,440
with lead acid, you're gonna have about a turn of

500
00:31:15,480 --> 00:31:18,680
fifty mile range with with litiumon for the same weight.

501
00:31:22,240 --> 00:31:25,319
So but it was it was cool to see it

502
00:31:25,319 --> 00:31:31,839
in action with with ac propulsion. So I tried hard

503
00:31:31,839 --> 00:31:34,759
to convince those guys. I could really pester them a

504
00:31:34,759 --> 00:31:40,279
lot to going to to commercialize the T zero, and

505
00:31:40,319 --> 00:31:44,039
they just did not want to do it. Weirdly, the

506
00:31:44,079 --> 00:31:49,680
thing they wanted to make was an electric sion. And

507
00:31:49,680 --> 00:31:52,920
I'm like, you guys, nobody's gonna pay seventy thousand dollars

508
00:31:53,000 --> 00:31:56,400
for an electric sion. Okay, that was their idea, seventy

509
00:31:56,440 --> 00:31:59,599
thousand dollars for an electric sion. I'm like, there's not

510
00:31:59,640 --> 00:32:03,440
gonna work. Okay, you will sell like fourteen of these things,

511
00:32:04,799 --> 00:32:08,319
you know, And I'm like, you know, I have like

512
00:32:08,359 --> 00:32:13,240
the email trails in these Yeah, I mean I think

513
00:32:13,240 --> 00:32:19,680
they're still still around. So in fact, but I even say, listen,

514
00:32:20,839 --> 00:32:22,839
even though I think this is the dumbest idea ever,

515
00:32:23,440 --> 00:32:27,640
I will I will pay. I will fund one tenth

516
00:32:27,640 --> 00:32:32,440
of it if you can find bine other people. And

517
00:32:32,559 --> 00:32:34,039
I think the only other person I could find he

518
00:32:34,079 --> 00:32:38,240
would was gay Brin. So it's like, okay, so Gay

519
00:32:38,480 --> 00:32:40,599
and I are the only ones willing to do this,

520
00:32:40,720 --> 00:32:42,680
I think, And so they didn't actually get her off

521
00:32:42,680 --> 00:32:46,160
the ground, but I said it's going to fail, okay,

522
00:32:47,200 --> 00:32:52,480
but at least it's something and and so then eventually

523
00:32:52,759 --> 00:32:55,799
I said, I'm like, listen, if you guys are not

524
00:32:55,839 --> 00:32:59,920
going to commercialize the teaser, do you mind if I

525
00:33:00,119 --> 00:33:03,799
do it? And they're like no, yeah, that'd be totally fine,

526
00:33:03,880 --> 00:33:06,920
Like okay.

527
00:33:07,079 --> 00:33:08,960
Speaker 4: So then I was gonna it's like, okay, so I.

528
00:33:10,480 --> 00:33:14,480
Speaker 2: Go do this with with JB and we'll go commercialized

529
00:33:14,519 --> 00:33:17,279
to create a commercial version of the T zero and

530
00:33:17,599 --> 00:33:21,960
then engage. And Coconi said, well, you know there's some

531
00:33:22,000 --> 00:33:24,160
other people who also want to do it. Do you

532
00:33:24,240 --> 00:33:27,119
want to maybe team up with them? He said there

533
00:33:27,119 --> 00:33:29,640
were two other groups that wanted to do it, And

534
00:33:29,680 --> 00:33:32,160
I was like, okay, sure, you know, maybe this is

535
00:33:32,160 --> 00:33:33,440
the way that I can have my cake and eat

536
00:33:33,440 --> 00:33:37,519
it too. You know, last work never works up. God damn,

537
00:33:37,880 --> 00:33:40,000
Try to have your cake and eat it too, doesn't it?

538
00:33:42,000 --> 00:33:43,079
Speaker 7: This one's going to be easy?

539
00:33:43,759 --> 00:33:43,839
Speaker 11: No?

540
00:33:44,000 --> 00:33:45,119
Speaker 4: I mean, well.

541
00:33:46,720 --> 00:33:48,119
Speaker 2: I didn't think it would be easy, but it was

542
00:33:48,160 --> 00:33:51,599
like I thought, maybe I can allocate like twenty to

543
00:33:51,640 --> 00:33:53,880
thirty hours a week and just work on product and

544
00:33:53,920 --> 00:33:56,640
engineering and then other people can do those stuff. But

545
00:33:56,680 --> 00:34:00,880
I don't even like doing those souff anyway, So that

546
00:34:01,000 --> 00:34:08,719
it didn't work out. So so that then tom Gage said,

547
00:34:09,199 --> 00:34:10,760
he said, he said there were two teams, but I

548
00:34:10,760 --> 00:34:14,480
only ever met one, and that was ever hard toppening

549
00:34:14,519 --> 00:34:19,440
and right, but like, the thing that is really bugs

550
00:34:19,519 --> 00:34:23,039
about them is they everhard. Particular the worst guy I've

551
00:34:23,039 --> 00:34:24,440
ever worked with. And I want to make a note

552
00:34:24,440 --> 00:34:27,079
of this. He is literally the worst person I've ever

553
00:34:27,119 --> 00:34:30,280
worked with. And I've worked with some real ditchbacks.

554
00:34:32,599 --> 00:34:40,480
Speaker 4: Okay, to be number one takes a lot. It's not easy.

555
00:34:41,360 --> 00:34:43,800
Speaker 2: His version of the story is like, is that out

556
00:34:43,800 --> 00:34:47,159
of the blue he pitched me on on funding on

557
00:34:47,239 --> 00:34:52,320
funding his electric car company, and and and he convinced

558
00:34:52,320 --> 00:34:56,360
me to do it. Totally false, Okay, I was like,

559
00:34:56,639 --> 00:35:00,639
I'm creating an electric car company. It's like the Gage said,

560
00:35:00,639 --> 00:35:03,800
well maybe you could team up. It's like, okay, well

561
00:35:04,199 --> 00:35:08,159
that that might be worth worth doing. And and so

562
00:35:08,800 --> 00:35:12,199
the company ended up being basically five people.

563
00:35:12,679 --> 00:35:14,400
Speaker 4: This is right Toppening.

564
00:35:15,559 --> 00:35:22,159
Speaker 2: Uh, you know, everhard struggle myself and so there's the

565
00:35:22,159 --> 00:35:27,199
five of us, and like topping always tries to write

566
00:35:27,800 --> 00:35:30,320
right right out of the history books because they had

567
00:35:30,360 --> 00:35:32,920
a huge battle, and they made me choose which one

568
00:35:33,039 --> 00:35:36,880
was going to be CEO. It's Right or Everhard, And

569
00:35:36,920 --> 00:35:39,679
I told JV, and is like, which one because I

570
00:35:39,719 --> 00:35:43,800
really didn't know want to be CEO. So they're like, okay,

571
00:35:43,840 --> 00:35:48,400
well both have issues, but maybe right has bigger issues

572
00:35:48,440 --> 00:35:51,400
than Toppening. That's what JV said, so maybe you know

573
00:35:51,719 --> 00:35:54,639
lesser evals. I was like, okay, fine, I gotta make

574
00:35:54,639 --> 00:35:56,760
a choice here because the two of them would not

575
00:35:58,360 --> 00:35:59,880
they would not they refuse to be the same ble.

576
00:36:00,639 --> 00:36:01,199
Speaker 4: So I was like.

577
00:36:03,000 --> 00:36:06,639
Speaker 2: A lot of drama that has so much trauma. And

578
00:36:06,679 --> 00:36:11,519
I was like, okay, you know, it's not like I said, like,

579
00:36:13,639 --> 00:36:20,360
you know, you know less or evils. So it's like

580
00:36:20,400 --> 00:36:24,880
I said, you're right, sorry, you know, not that I

581
00:36:24,920 --> 00:36:27,320
didn't think he had good points, but I gotta if

582
00:36:27,360 --> 00:36:29,760
I got to pick one, and I don't. I was

583
00:36:29,760 --> 00:36:33,199
trying not to be I've gotta make this rocking company work,

584
00:36:33,559 --> 00:36:39,840
so okay, so then made uh you know, it's like right,

585
00:36:40,559 --> 00:36:43,840
you know, it's like I had to leave then anyway,

586
00:36:47,599 --> 00:36:53,719
So we've got the Basically, we we we jammed a

587
00:36:54,960 --> 00:37:01,840
superpulsion powertrain and backpack into a Lotus lease with the

588
00:37:01,880 --> 00:37:04,760
first productyping like really just jammed it in, you know.

589
00:37:07,199 --> 00:37:16,519
And in retrospect this was not a good idea because

590
00:37:16,639 --> 00:37:20,599
the the car ended up weighing like like sixty percent

591
00:37:20,679 --> 00:37:24,039
more than in the lease or on that order, and

592
00:37:24,320 --> 00:37:26,239
we didn't have enough follow you to put the battery pack,

593
00:37:27,199 --> 00:37:29,800
and we had to meet all we invalidated all of

594
00:37:29,840 --> 00:37:32,480
the crash tests because the weight distribution was different. It

595
00:37:32,559 --> 00:37:35,920
was heavier, so none of the crash tests were valid anymore.

596
00:37:36,360 --> 00:37:39,159
To redo the airbags, the air conditioning air conditioner ran

597
00:37:39,199 --> 00:37:42,719
off a belt fan, so we didn't have a belt van,

598
00:37:42,840 --> 00:37:45,320
so we had to have a new air conditioning system,

599
00:37:45,320 --> 00:37:50,599
so to change the HVAC system. And so basically in

600
00:37:50,639 --> 00:37:53,519
the end, only about like I think six or seven

601
00:37:53,519 --> 00:37:55,639
percent of the parts ended up being in common with

602
00:37:55,679 --> 00:38:00,599
the lease. So and I went through a lot of

603
00:38:00,599 --> 00:38:03,960
trouble trying to shoot one everything in there, and I mean,

604
00:38:04,000 --> 00:38:06,079
it's a cute car, but it's ten percent too small,

605
00:38:06,880 --> 00:38:15,679
it's like, and then the costs ended up being crazy,

606
00:38:15,840 --> 00:38:23,360
and yeah, and then then yeah, there was there was

607
00:38:23,360 --> 00:38:27,960
an ordit of for the costs of the production costs

608
00:38:27,960 --> 00:38:30,199
of the roads to buy one of the investors that

609
00:38:30,320 --> 00:38:34,840
joined in two thousand and seven. And and then they

610
00:38:34,880 --> 00:38:37,920
caught me up and said, hey, the the numbers that

611
00:38:37,960 --> 00:38:41,199
Martin is telling you, Theybore's telling you about the roads

612
00:38:41,360 --> 00:38:42,400
are totally false.

613
00:38:42,519 --> 00:38:42,960
Speaker 1: Oh boy.

614
00:38:44,320 --> 00:38:46,199
Speaker 2: And I was like, what do you mean? Like he said, no,

615
00:38:46,280 --> 00:38:48,639
we just didn't order it there. It's more than twice

616
00:38:48,800 --> 00:38:52,320
of what do you say, the Yeah, it's like we

617
00:38:52,320 --> 00:38:54,679
would have to sell this car for a quarter million

618
00:38:54,719 --> 00:38:59,000
dollars in order to make to not lose money, Like

619
00:38:59,199 --> 00:39:04,599
this is insane. So anyway, then we obviously had to

620
00:39:04,599 --> 00:39:07,840
fire everhard. There was no choice about that.

621
00:39:10,400 --> 00:39:10,599
Speaker 4: Yeah.

622
00:39:10,679 --> 00:39:12,679
Speaker 2: And then it turned out not only had he misled

623
00:39:12,679 --> 00:39:17,639
me directly, if he'd instructed others to also lie. Yes,

624
00:39:17,760 --> 00:39:19,880
when I say, like somebody, that's like the worst person

625
00:39:19,880 --> 00:39:29,159
who worked with it was pretty bad. So the SpaceX

626
00:39:29,159 --> 00:39:31,559
also hadn't gotten over at that time. So I was like, man,

627
00:39:34,159 --> 00:39:43,400
So like, okay, I asked, what's his name, Harris, I'm

628
00:39:43,400 --> 00:39:45,159
really guy.

629
00:39:46,440 --> 00:39:50,239
Speaker 4: When banking on the name Interim.

630
00:39:51,000 --> 00:39:57,440
Speaker 8: Uh yeah, he he ran like a manufacturing company. I mean,

631
00:39:57,480 --> 00:39:59,320
he seemed pretty smart. The problem The problem that I

632
00:39:59,360 --> 00:40:02,360
found with Testa was we were start up in Silicon

633
00:40:02,440 --> 00:40:09,480
Valley building a car that was really manufacturing and materials engineering,

634
00:40:09,480 --> 00:40:13,119
and it's really like all the talent was for You

635
00:40:13,159 --> 00:40:18,239
think there was probably talent, you know, in Detroit to Japan,

636
00:40:18,920 --> 00:40:20,599
but if you took any of those guys in to

637
00:40:20,960 --> 00:40:23,360
run Tesla, they would run out like a car company

638
00:40:23,360 --> 00:40:23,599
and then.

639
00:40:23,519 --> 00:40:24,760
Speaker 7: It would be destroyed.

640
00:40:24,800 --> 00:40:26,599
Speaker 4: Well, no idea, you can take somebody who's running.

641
00:40:26,760 --> 00:40:29,360
Speaker 8: I could not take someone from a massive company culture

642
00:40:29,400 --> 00:40:31,920
and having to do a startup. And yet you couldn't

643
00:40:31,920 --> 00:40:34,440
find anyone in the Silicon Valley who knew who knew

644
00:40:34,519 --> 00:40:36,880
enough about making cars. And so we kind of found

645
00:40:36,880 --> 00:40:39,280
a middle, middle of the road who he was. He

646
00:40:39,320 --> 00:40:41,400
was an expert in manufacturing.

647
00:40:41,960 --> 00:40:47,039
Speaker 2: X CEO of Flextronics, was an investor, and he agreed

648
00:40:47,079 --> 00:40:49,119
to just be joined us the interim CEO.

649
00:40:49,320 --> 00:40:51,039
Speaker 4: And this is two thousand and seven.

650
00:40:51,360 --> 00:40:54,559
Speaker 8: Yeah, but I mean Tesla was a company you tried

651
00:40:54,679 --> 00:40:56,440
so hard not to be CEO of.

652
00:40:59,760 --> 00:41:03,480
Speaker 2: Yeah. But the thing is this is misinterpreted. If I

653
00:41:03,480 --> 00:41:05,880
say that, it's misinterpreteds like I somehow don't love Teesla,

654
00:41:05,920 --> 00:41:08,719
which I do. It's just like I tried not to

655
00:41:08,719 --> 00:41:10,480
go insane with work on.

656
00:41:10,559 --> 00:41:10,960
Speaker 11: Yeah, you can.

657
00:41:11,360 --> 00:41:14,400
Speaker 8: Being to see of a real startup is eighty hours

658
00:41:14,440 --> 00:41:16,079
a week. Being CEE of two is one hundred and

659
00:41:16,119 --> 00:41:17,960
sixty hours a week, and there's only one hundred and

660
00:41:17,960 --> 00:41:21,800
sixty nine hours or something of sleep of one hundred

661
00:41:21,800 --> 00:41:23,920
and sixty eight hours a week, so like you just

662
00:41:23,960 --> 00:41:25,000
can't physically do it.

663
00:41:26,519 --> 00:41:32,800
Speaker 4: Yeah, I mean the pain level is extreme, so that's yeah. Anyway,

664
00:41:32,880 --> 00:41:37,920
let's try quite hard not to be to you, but

665
00:41:38,320 --> 00:41:41,719
had to be no choice that or tells him die,

666
00:41:42,440 --> 00:41:44,559
so so that yeah.

667
00:41:45,679 --> 00:41:50,639
Speaker 2: Everhard Gut was fired in July two thousand and seven,

668
00:41:51,119 --> 00:41:53,639
and he was at the time we didn't know he'd

669
00:41:53,639 --> 00:41:55,760
instructed other people to lie, so we thought he was

670
00:41:55,800 --> 00:41:58,599
just you know, it wasn't as bad. But once he

671
00:41:58,719 --> 00:42:01,559
left the building then it turned out no, he'd actually

672
00:42:01,599 --> 00:42:06,440
orchestrated a massive deception, which is quite bad.

673
00:42:08,840 --> 00:42:15,440
Speaker 4: So yeah. Yeah.

674
00:42:15,440 --> 00:42:17,000
Speaker 2: He also says he came up with the name of

675
00:42:17,119 --> 00:42:19,840
Tells the Motors Motors, which is false. I was created

676
00:42:19,840 --> 00:42:23,119
by a guy in ninety five and more of a

677
00:42:23,280 --> 00:42:27,039
he knows this because we went to great length we had.

678
00:42:26,920 --> 00:42:29,239
Speaker 4: To buy the trademark. Yeah, exactly, So you can come

679
00:42:29,199 --> 00:42:34,679
about the name. It was a trademark ninety five, So

680
00:42:34,800 --> 00:42:38,320
it's like there's a whole bullshit backstory of it. But

681
00:42:39,199 --> 00:42:42,519
the guy, we almost almost had to change the name

682
00:42:42,559 --> 00:42:45,480
of the company because the guy who owned tells the

683
00:42:45,519 --> 00:42:51,239
motors wouldn't communicate with us, and so eventually we sent

684
00:42:51,840 --> 00:42:55,440
the nicest kind of company. Now, who's weirdly Martin's best friend,

685
00:42:55,440 --> 00:42:59,840
which I don't understand, but Mark Toppening super nice guy. Actually,

686
00:43:00,920 --> 00:43:05,000
you can't not like Mark, It's impossible. He's super nice guy.

687
00:43:05,079 --> 00:43:07,480
Speaker 2: So this said Mark to go sit on the guy's

688
00:43:07,480 --> 00:43:11,840
door step and not leave until he until he agreed

689
00:43:11,880 --> 00:43:14,480
to at least negotiate with us or something. You talked

690
00:43:14,519 --> 00:43:17,599
to us, And then we ended up buying the trademark

691
00:43:17,639 --> 00:43:20,639
for seventy five thousand dollars.

692
00:43:21,440 --> 00:43:25,199
Speaker 6: Yeah, was he the one who owned the domain too?

693
00:43:25,679 --> 00:43:27,840
Speaker 4: No, that was a whole different nightmare.

694
00:43:29,920 --> 00:43:32,199
Speaker 2: Now that domain guy that took us ten years to

695
00:43:32,199 --> 00:43:38,639
buy that tis dot com domain. Man, it was it

696
00:43:38,679 --> 00:43:42,519
is I think still like a networking engineer at Junifler.

697
00:43:44,559 --> 00:43:48,760
So yeah, there was, and that costs us like ten

698
00:43:48,800 --> 00:43:53,000
million dollars. Yeah, that was crazy, Like just the guy

699
00:43:53,119 --> 00:43:54,039
just held out.

700
00:43:54,559 --> 00:43:55,960
Speaker 10: Was he just sitting on the domain or was he

701
00:43:56,079 --> 00:43:56,800
using it for something?

702
00:43:56,960 --> 00:44:01,599
Speaker 2: It was impossible to No, he wasn't using it for anything.

703
00:44:01,639 --> 00:44:06,840
Speaker 10: The name it's like Twitter handle Falcon heavy. We're fighting

704
00:44:06,840 --> 00:44:07,320
for that one.

705
00:44:08,800 --> 00:44:09,000
Speaker 6: Yeah.

706
00:44:09,119 --> 00:44:12,079
Speaker 2: So man, that was to us ages to buy the

707
00:44:12,119 --> 00:44:16,119
Tails economy, but we're gonna have to change the name

708
00:44:17,199 --> 00:44:19,719
to be something else.

709
00:44:19,760 --> 00:44:24,639
Speaker 4: And actually the lead candidate.

710
00:44:24,360 --> 00:44:28,920
Speaker 2: Was was Faraday as the name because Faraday invented the

711
00:44:28,960 --> 00:44:33,320
electric motor and then Tails look perfected the electric motor

712
00:44:33,320 --> 00:44:34,519
with the AC induction motor.

713
00:44:35,000 --> 00:44:35,400
Speaker 4: So it was.

714
00:44:37,039 --> 00:44:39,480
Speaker 2: So if we couldn't do Tales, that would do Faraday.

715
00:44:39,519 --> 00:44:42,960
And then ironically a competitor was later created.

716
00:44:43,000 --> 00:44:49,519
Speaker 4: Cool, let's start up yeah China, right, yeah, yeah yeah.

717
00:44:50,599 --> 00:44:54,239
Speaker 12: So did you guys have a Faraday a logo or anything?

718
00:44:54,280 --> 00:44:55,320
Were you that far down there?

719
00:44:55,360 --> 00:44:59,039
Speaker 2: No, we didn't really even have a tail logo until

720
00:44:59,239 --> 00:45:04,599
later because there's nothing to sell or anything. So but

721
00:45:05,199 --> 00:45:07,760
in the end, the tel the logo and the Tailor

722
00:45:07,880 --> 00:45:17,280
font was done by me working with basically a little firm.

723
00:45:17,400 --> 00:45:22,440
That's why the Tailor and SpaceX there's some similarities between

724
00:45:22,440 --> 00:45:27,159
the the fonts, and that's because I just don't buy

725
00:45:27,199 --> 00:45:33,519
the same people. Yeah, I spent a lot of time

726
00:45:33,559 --> 00:45:37,920
on the tails and space x fonse the get a little.

727
00:45:38,440 --> 00:45:46,679
Speaker 4: That's cool, Yeah, sure, sure, excellent, all right, awesome.

728
00:45:55,960 --> 00:45:57,719
Speaker 2: It would be much easier if if the world was

729
00:45:57,719 --> 00:46:00,159
flat or if you're not if you're in a flat situations,

730
00:46:00,199 --> 00:46:03,880
those things are not flatten. You've got the world has

731
00:46:04,039 --> 00:46:07,039
undulations and curves, and and then your the car can

732
00:46:07,079 --> 00:46:09,079
be at any kind of at any kind of angle,

733
00:46:10,000 --> 00:46:12,079
and then if you if you accelerate or break, it's

734
00:46:12,079 --> 00:46:15,039
actually gonna tip a little bit. Yeah, we've got sort

735
00:46:15,039 --> 00:46:17,880
of pitch and mule compensations.

736
00:46:18,119 --> 00:46:19,320
Speaker 4: That's where it gets really tricky.

737
00:46:20,119 --> 00:46:23,440
Speaker 5: Yeah, I mean they're doing just amazing work. It literally

738
00:46:23,480 --> 00:46:26,440
just blows my mind every time, like there's an update,

739
00:46:26,599 --> 00:46:28,960
like you think it's like wow, I can't believe. It's

740
00:46:28,960 --> 00:46:31,679
just good, and then it just gets better.

741
00:46:32,000 --> 00:46:34,519
Speaker 12: Like the big one was the faster lane changes, like

742
00:46:34,880 --> 00:46:38,760
you push the turn second was like like immediately, it's really.

743
00:46:38,480 --> 00:46:40,320
Speaker 10: Awesome, satisfying.

744
00:46:40,400 --> 00:46:42,800
Speaker 5: Yeah, well I was kind of just like before, I

745
00:46:42,840 --> 00:46:45,199
was like, Okay, it's not that good, but it feels

746
00:46:45,199 --> 00:46:47,480
good because like I can't believe a computer is doing this,

747
00:46:47,840 --> 00:46:49,480
and we got the faster ones and I was like,

748
00:46:49,519 --> 00:46:51,639
oh my god, it was so bad before.

749
00:46:52,599 --> 00:46:56,159
Speaker 2: You know, Yeah, I mean it'll be able to just

750
00:46:56,760 --> 00:46:59,719
do crazy maneuvers like like a high speed chase technically

751
00:47:01,599 --> 00:47:04,039
because it's it's you don't always want to buy into

752
00:47:04,079 --> 00:47:06,559
the thing to be conservative in any and actions that

753
00:47:06,639 --> 00:47:14,360
it takes. But there's there's quite a significant foundational rewrite

754
00:47:14,519 --> 00:47:19,480
in the TEES autopod system that's almost completely Yeah, and

755
00:47:19,559 --> 00:47:20,360
what what part of.

756
00:47:20,360 --> 00:47:24,119
Speaker 5: The system like perception, like planning or.

757
00:47:24,199 --> 00:47:24,599
Speaker 4: Just like.

758
00:47:26,440 --> 00:47:33,039
Speaker 2: It's it's instead of having planning, perception, image recognition all

759
00:47:33,039 --> 00:47:35,199
be separate, they're they're they're being combined.

760
00:47:36,719 --> 00:47:47,480
Speaker 13: So yeah, I don't even understand what effectually like the

761
00:47:47,480 --> 00:47:51,239
the sort of neural net is absorbing more and more

762
00:47:51,280 --> 00:47:56,599
of the problem beyond simply the is this is if

763
00:47:56,599 --> 00:47:58,639
you see an image, is this a car or not?

764
00:47:59,519 --> 00:47:59,719
Speaker 6: Or what?

765
00:48:00,079 --> 00:48:00,360
Speaker 4: You know?

766
00:48:01,679 --> 00:48:03,519
Speaker 2: It's it's kind of what do you what do you

767
00:48:03,559 --> 00:48:08,920
do from that? Three D labeling is the next big thing,

768
00:48:10,039 --> 00:48:12,599
where the car can go through a scene with eight

769
00:48:12,639 --> 00:48:18,239
cameras and and and and kind of paint a paint

770
00:48:18,239 --> 00:48:20,960
a path and then you can label the path in

771
00:48:21,039 --> 00:48:24,519
three D. This is probably two or three order of

772
00:48:24,559 --> 00:48:28,679
magnitude improvement in labeling efficiency and labeling accuracy, you know

773
00:48:30,760 --> 00:48:34,920
two through orders improvement in labeling efficiency and significant improvement

774
00:48:35,000 --> 00:48:38,639
in labeling accuracy as opposed to having to label individual

775
00:48:38,639 --> 00:48:44,039
frames from eight cameras at thirty six frames a second.

776
00:48:44,119 --> 00:48:49,519
Just drive through the scene, rebuild that scene as a

777
00:48:51,079 --> 00:48:54,199
three D thing with it, so it's like there might

778
00:48:54,199 --> 00:48:56,119
be a thousand frames that we used to create that

779
00:48:56,159 --> 00:48:59,239
scene and then you can label all at once.

780
00:49:00,519 --> 00:49:01,880
Speaker 11: Is that related to the dojo thing?

781
00:49:01,920 --> 00:49:03,280
Speaker 10: You mentioned that the autonomy day.

782
00:49:04,119 --> 00:49:07,360
Speaker 5: Now dojo's for learning, for training the neural net. That's

783
00:49:07,400 --> 00:49:09,400
like when you're trying to build the neural net that

784
00:49:09,440 --> 00:49:11,679
you ship into the car, Dojo speeds it up by

785
00:49:11,679 --> 00:49:12,800
hardware accelerating it.

786
00:49:13,920 --> 00:49:15,079
Speaker 4: Yeah, exactly.

787
00:49:16,159 --> 00:49:18,719
Speaker 5: Are you guys has that up and running yet or no?

788
00:49:19,079 --> 00:49:21,639
Speaker 2: It might be we might have first one at the

789
00:49:21,719 --> 00:49:25,800
end of this year, but next year. I think it's

790
00:49:25,880 --> 00:49:29,559
very likely next year, maybe this year. But it's essentially

791
00:49:29,639 --> 00:49:33,440
meant to as a massive amounts of video input and

792
00:49:33,960 --> 00:49:39,440
then and then train against vast amounts of data so

793
00:49:39,480 --> 00:49:41,000
that it can be used in the inference engine in

794
00:49:41,039 --> 00:49:43,880
the car. It's just like a human really, It's like

795
00:49:44,360 --> 00:49:46,199
how long does it take you to learn a subject

796
00:49:46,760 --> 00:49:50,880
versus do a subject. You know, it's like hard to learn,

797
00:49:51,119 --> 00:49:54,920
say calculus, but once you learned it, then you can

798
00:49:55,239 --> 00:49:59,039
you know, integrate something fast or something. It's like it's

799
00:49:59,079 --> 00:50:02,400
a it's really the same same basic thing.

800
00:50:03,000 --> 00:50:05,360
Speaker 5: Yeah, I mean, that'll just really tighten the feedback loop.

801
00:50:05,480 --> 00:50:07,679
Like at some point it just gets impossible to catch

802
00:50:07,679 --> 00:50:10,320
you guys, and like the rest of the people haven't

803
00:50:10,360 --> 00:50:12,920
even really like started the rest of the auto industry,

804
00:50:13,440 --> 00:50:15,599
and like the feedback loop is just getting so tight

805
00:50:15,639 --> 00:50:18,960
with autopilot now, it's just like makes it a lot easier.

806
00:50:19,800 --> 00:50:20,920
Speaker 4: I think it will.

807
00:50:21,760 --> 00:50:24,400
Speaker 2: They will catch up eventually, at least they will catch

808
00:50:24,400 --> 00:50:28,400
a t where TESA is now. I don't know things

809
00:50:28,440 --> 00:50:31,079
like like for example, we're talking about maps and directions

810
00:50:31,159 --> 00:50:37,079
and how today like computer based and navigation is a

811
00:50:37,119 --> 00:50:41,159
trouble considered trivial. But you know, back in ninety five

812
00:50:41,199 --> 00:50:44,000
it was not true. Yeah, it was considered very hard

813
00:50:44,480 --> 00:50:47,840
and the computer power you had was tiny, so like

814
00:50:48,039 --> 00:50:51,840
the code had to be super tight. I couldn't have

815
00:50:51,880 --> 00:50:54,840
fluffy code if you're you know, trying to execute something

816
00:50:54,880 --> 00:50:58,840
on like a three eighty six, you know, like very

817
00:50:58,920 --> 00:51:04,840
very puny amount of memory and compute. So so now

818
00:51:04,840 --> 00:51:10,199
it's but but now maps, directions are are easy. I

819
00:51:10,239 --> 00:51:12,360
think it's at some point in the future, it might

820
00:51:12,440 --> 00:51:18,000
be a decade or something, then autonomy will will seem easy.

821
00:51:18,320 --> 00:51:20,920
Speaker 5: Yeah, I mean it will obviously be commoditized in the

822
00:51:20,960 --> 00:51:21,800
long term.

823
00:51:22,000 --> 00:51:23,639
Speaker 4: Yes, it will.

824
00:51:24,119 --> 00:51:27,239
Speaker 2: It will seem easy in ten years, but there will

825
00:51:27,280 --> 00:51:31,360
be a long stretch there where there will be vast

826
00:51:31,360 --> 00:51:37,400
differences between cars. Well, I have I have the order industry.

827
00:51:37,599 --> 00:51:44,920
It is used to slow rates of improvements, so you know,

828
00:51:45,079 --> 00:51:50,280
it's this will not really a car yet that matches

829
00:51:50,320 --> 00:51:51,360
the original model s.

830
00:51:51,679 --> 00:51:52,679
Speaker 4: Maybe you canug.

831
00:51:54,360 --> 00:51:56,280
Speaker 5: If you look at like the E p A ratings,

832
00:51:57,039 --> 00:52:00,320
it literally is just all below Yeah.

833
00:52:01,199 --> 00:52:04,599
Speaker 2: So that was twenty twelve and it's twenty twenty, so

834
00:52:04,639 --> 00:52:06,880
it's it's still like pretty hard to get a car.

835
00:52:07,760 --> 00:52:12,440
Let's say that's there's not a car available at the

836
00:52:12,480 --> 00:52:15,239
price of the models that has the capabilities of the

837
00:52:15,280 --> 00:52:16,679
models of twenty twelve.

838
00:52:16,760 --> 00:52:18,599
Speaker 5: It's kind of exactly what you were talking about with

839
00:52:18,679 --> 00:52:20,079
the Elise, where you're like, oh, we'll just put a

840
00:52:20,119 --> 00:52:22,960
battery in the Eleise, and that kind of showed you like, Okay,

841
00:52:23,000 --> 00:52:24,599
we really need to ground up electric.

842
00:52:24,599 --> 00:52:31,039
Speaker 2: Disney hasn't done that, like the sort of founding principles

843
00:52:31,079 --> 00:52:39,320
of Teesla. We're basically completely wrong. So the premise going

844
00:52:39,320 --> 00:52:41,440
in is like, it's not going to be that hard.

845
00:52:41,559 --> 00:52:44,280
You know, we'll just take the Lotus Lease, you know,

846
00:52:44,320 --> 00:52:47,960
a nice light, lightweight car, and we'll take AC propulsions

847
00:52:48,639 --> 00:52:50,840
drive unit technology and we'll.

848
00:52:50,639 --> 00:52:53,920
Speaker 4: Put them together and we'll have electric car. It'd be great.

849
00:52:54,159 --> 00:52:59,199
Speaker 2: This sounds pretty easy, except the AC propulsion technology it

850
00:52:59,519 --> 00:53:03,880
could not be industrialized. Like it was like basically hand

851
00:53:03,960 --> 00:53:08,599
crafted electronics with an analog motor controller. Yeah, and so

852
00:53:08,719 --> 00:53:11,599
depending if there was hot or cold, you would respond

853
00:53:11,639 --> 00:53:18,719
differently or not at all, and the motors were hand round.

854
00:53:18,760 --> 00:53:21,360
It was just like it was like impossible. It cannot

855
00:53:21,360 --> 00:53:26,519
scale this technology. You can have like Finickey individually made

856
00:53:26,599 --> 00:53:30,280
super expensive prototypes, but you could. We ended up using

857
00:53:30,280 --> 00:53:35,199
none of the AC propulsion technology. So yeah, it's something

858
00:53:35,199 --> 00:53:38,079
that looks cool and works well at an individual prototype level,

859
00:53:38,079 --> 00:53:42,440
does not necessarily scale. And then the like I said,

860
00:53:42,440 --> 00:53:44,599
it was like maybe seven percent of the parts of

861
00:53:44,639 --> 00:53:47,800
the original roads that were in common with the Lotus Lease.

862
00:53:48,519 --> 00:53:50,199
It would have been way easier if we started from

863
00:53:50,239 --> 00:53:55,000
blank slate. It would have been a better car. So

864
00:53:55,760 --> 00:53:59,320
but I think like the real test of any given

865
00:53:59,320 --> 00:54:02,920
startup is how does it respond to adversity and adapt

866
00:54:03,199 --> 00:54:04,760
and and and and just figure it out?

867
00:54:05,159 --> 00:54:05,400
Speaker 4: You know.

868
00:54:05,480 --> 00:54:10,400
Speaker 2: So like most things are just when they start out,

869
00:54:10,400 --> 00:54:12,559
they're just they don't make a lot of sense. But

870
00:54:12,599 --> 00:54:16,079
then as long as you adapt quickly, then you can

871
00:54:16,159 --> 00:54:22,760
make the company work. And you know, if you say

872
00:54:22,800 --> 00:54:27,639
like some sort of confinity, you know, doing doing pomp

873
00:54:27,679 --> 00:54:30,639
out tokens with the infrared port made no sense, but

874
00:54:30,639 --> 00:54:33,519
they adapted quickly to online payments, you know, That's that

875
00:54:33,639 --> 00:54:39,480
was that was key. And yeah, at at x dot

876
00:54:39,519 --> 00:54:42,559
com was originally going to buy it off way more

877
00:54:42,599 --> 00:54:44,239
than a could chew by trying to all the banking

878
00:54:44,280 --> 00:54:47,159
services and then also focused on payments. It's like, if

879
00:54:47,199 --> 00:54:48,840
we do all these banking things, we're gonna need a

880
00:54:48,840 --> 00:54:50,800
banking license, and banking license going to slow us down.

881
00:54:51,360 --> 00:54:52,960
We're just focused on payments, so we can just get

882
00:54:52,960 --> 00:54:55,800
a payment you know, license from the state and it's

883
00:54:55,880 --> 00:54:58,119
just like fifty bucks or something. You can be a

884
00:54:58,239 --> 00:55:03,280
money transmitter literally, and so you just go to it

885
00:55:03,320 --> 00:55:03,920
daft quickly.

886
00:55:05,960 --> 00:55:07,760
Speaker 5: You kind of need to be naive, though if you

887
00:55:07,840 --> 00:55:11,159
had known as much about manufacturing, you might not have

888
00:55:11,360 --> 00:55:13,519
done it.

889
00:55:14,199 --> 00:55:17,960
Speaker 4: Yeah, yeah, this would have been.

890
00:55:20,280 --> 00:55:24,159
Speaker 2: It would have been difficult to I guess if you

891
00:55:24,159 --> 00:55:26,159
know the outcome is going to be good in the end. Sure,

892
00:55:26,519 --> 00:55:28,280
it sort of depends on how much foretnoledge do you

893
00:55:28,320 --> 00:55:29,440
have about it.

894
00:55:29,440 --> 00:55:29,559
Speaker 4: It.

895
00:55:30,199 --> 00:55:34,679
Speaker 2: Manufacturings is insanely difficult. It's underappreciated. It's difficulty.

896
00:55:35,679 --> 00:55:37,000
Speaker 7: Yeah, I know, that's totally true.

897
00:55:37,199 --> 00:55:42,320
Speaker 2: Yeah, even making the roads store, which we only peak

898
00:55:42,400 --> 00:55:46,639
made abound six hundred roadsters in a year, but you know,

899
00:55:46,719 --> 00:55:49,559
call it like ten a week or something like that,

900
00:55:49,679 --> 00:55:52,639
you know, ten or twelve a week. So you know,

901
00:55:52,719 --> 00:55:55,280
if two got made in a day, that was a

902
00:55:55,320 --> 00:56:02,159
big day and tells us making over a thousand cars day.

903
00:56:02,199 --> 00:56:04,800
Speaker 8: Now what I find amazing is from start to finish,

904
00:56:04,800 --> 00:56:07,159
your car is made in forty eight hours.

905
00:56:07,719 --> 00:56:09,559
Speaker 4: Yeah it's been would count start to finishing?

906
00:56:09,679 --> 00:56:12,400
Speaker 7: Yeah, it depends. But you can see the role of

907
00:56:12,440 --> 00:56:13,119
aluminum in.

908
00:56:13,159 --> 00:56:15,000
Speaker 8: One section of the factory and you can see the

909
00:56:15,000 --> 00:56:17,719
cars coming out the other end, and then it is astounding.

910
00:56:17,719 --> 00:56:20,159
And cars have been built for a long time, but

911
00:56:20,159 --> 00:56:22,920
but this is just astounding. It's still when you you

912
00:56:22,960 --> 00:56:25,039
don't appreciate when you're driving a car, how much goes

913
00:56:25,079 --> 00:56:28,599
into the level of detail of ten thousand parts that

914
00:56:28,639 --> 00:56:30,599
come together, the shaping of everything that.

915
00:56:30,519 --> 00:56:34,920
Speaker 2: Doesn't unique unique cards. Wow, the back alone is several

916
00:56:34,960 --> 00:56:36,639
thousand cells and it all.

917
00:56:36,480 --> 00:56:40,880
Speaker 8: Comes together with people that are skilled. But you know,

918
00:56:41,000 --> 00:56:43,920
skills are changing. Is as things become a little bit

919
00:56:43,960 --> 00:56:46,440
there's more, there's more autonomy, but it's not it's not

920
00:56:46,719 --> 00:56:49,320
autonomy is not perfect. So you do need to have

921
00:56:49,360 --> 00:56:53,079
a lot of people there and and these cars have

922
00:56:53,159 --> 00:56:53,800
to be perfect.

923
00:56:54,079 --> 00:56:54,840
Speaker 7: I mean, it's just.

924
00:56:56,280 --> 00:56:59,079
Speaker 2: Just if we've given how much complexity there is no

925
00:56:59,159 --> 00:57:01,880
car it's rockable. They cost as of those they do this.

926
00:57:02,079 --> 00:57:03,360
There's so much that's in a car.

927
00:57:06,159 --> 00:57:08,280
Speaker 12: So so what sort of processes did you remove, like

928
00:57:08,440 --> 00:57:13,000
you know, first principles type thing approach from the elise

929
00:57:13,119 --> 00:57:16,119
to like the model ass Like, was it a massive

930
00:57:16,199 --> 00:57:16,800
jump there?

931
00:57:17,119 --> 00:57:21,159
Speaker 2: Yeah, I mean it's gigantic. Yeah, tells that never made

932
00:57:21,199 --> 00:57:22,920
a car, made.

933
00:57:22,800 --> 00:57:24,119
Speaker 4: A full car before.

934
00:57:25,360 --> 00:57:29,079
Speaker 2: The uh lotis made the non power trained portion of

935
00:57:29,159 --> 00:57:34,199
the roadster, and then it tells about the battery pack, motor,

936
00:57:36,360 --> 00:57:39,679
par electronics, charger, and then put put a roll together

937
00:57:39,840 --> 00:57:44,199
at the end. And that final assembly was actually at

938
00:57:44,239 --> 00:57:49,440
an old Ford dealership in Menlo Park. You can see

939
00:57:49,480 --> 00:57:51,719
some of the stuff in Revenge of the Electric Car.

940
00:57:51,840 --> 00:57:54,239
Speaker 10: Yeah. See, yeah, it's.

941
00:57:54,079 --> 00:57:56,760
Speaker 5: Great, just gives you crazy perspective to look back on it.

942
00:57:56,880 --> 00:57:57,280
Speaker 4: Crazy.

943
00:57:57,360 --> 00:58:01,000
Speaker 2: We need a third one, yeah, I mean the idea

944
00:58:01,000 --> 00:58:04,760
of having a car like a car assembly tiny plant

945
00:58:04,800 --> 00:58:10,320
in Menlo parkable places. And that was just because we

946
00:58:10,840 --> 00:58:14,599
managed to sub lease the four dealership closed down and

947
00:58:14,639 --> 00:58:18,639
we managed to get it like this deal from Stamford

948
00:58:19,039 --> 00:58:21,519
because the SAM is going to redevelop it and they

949
00:58:21,639 --> 00:58:24,920
so and they they're We figured they'll probably take it

950
00:58:25,039 --> 00:58:27,679
way longer than they expected to redevelop it. So we said, well,

951
00:58:27,679 --> 00:58:29,719
you're not bringing it to anyone. Can we pay you

952
00:58:29,760 --> 00:58:31,519
like fifty cents of square foot and you can kick

953
00:58:31,559 --> 00:58:34,440
us out, kick us out whenever you want. And and

954
00:58:34,480 --> 00:58:37,400
it was actually huge dealership and it had enough room

955
00:58:37,440 --> 00:58:39,480
to do final assembly of the cars, so we just

956
00:58:39,480 --> 00:58:40,840
did final assembly the cars there.

957
00:58:41,239 --> 00:58:41,719
Speaker 4: Amazing.

958
00:58:42,000 --> 00:58:45,719
Speaker 2: Yeah, and one of the most absurd places to build

959
00:58:45,800 --> 00:58:47,199
cars on Earth is Menal.

960
00:58:47,519 --> 00:58:49,880
Speaker 10: No test track or anything, just the road outside or some.

961
00:58:50,159 --> 00:58:54,559
Speaker 2: Yeah, well we would actually the early roasters were very unreliable,

962
00:58:54,599 --> 00:58:58,760
so we generally put about fifty miles of just normal

963
00:58:58,840 --> 00:59:03,360
driving around the Bay area with somebody following you and.

964
00:59:04,519 --> 00:59:06,679
Speaker 10: Looks from people it's like what is that?

965
00:59:06,920 --> 00:59:09,599
Speaker 2: Yeah, but we put fifty miles in each one of

966
00:59:09,639 --> 00:59:11,000
those cars because they just have a lot of things

967
00:59:11,000 --> 00:59:14,199
that are break down in the first fifty miles. So

968
00:59:15,880 --> 00:59:23,280
and then yeah, battery production was in Sant Colas. Yeah,

969
00:59:23,960 --> 00:59:27,239
so man, that was there is a lot of detail

970
00:59:27,440 --> 00:59:29,400
and all that. But going from the road so to

971
00:59:29,840 --> 00:59:34,880
MODELES was massive leap because the the models is quite

972
00:59:34,880 --> 00:59:38,400
a sophisticated sedan where we test about the whole thing

973
00:59:38,559 --> 00:59:39,920
as opposed to buildey power.

974
00:59:39,760 --> 00:59:41,119
Speaker 4: Train and.

975
00:59:42,599 --> 00:59:48,159
Speaker 2: Yeah, so you know, competing against Sycamacy's BMW AUDI type thing.

976
00:59:50,199 --> 00:59:54,960
So that that was that was a massive leap of difficulty.

977
00:59:56,000 --> 00:59:58,440
We did get the new me planted, but really that

978
00:59:58,559 --> 01:00:01,880
just meant we got eight box. Yeah, because they stroked

979
01:00:01,880 --> 01:00:06,360
the planet of all the great equipment. The only equipment

980
01:00:06,679 --> 01:00:10,159
that turn On GM left behind was the stuff that

981
01:00:10,159 --> 01:00:12,679
that they could not use anywhere else, So they only

982
01:00:12,760 --> 01:00:16,800
left the most tracky, broken pieces of equipment behind. We

983
01:00:16,920 --> 01:00:19,960
managed to use some of it, but but yeah, in

984
01:00:20,440 --> 01:00:23,920
the paint drop, I mean some of the things were

985
01:00:23,960 --> 01:00:28,320
literally not even worth the scrap value. So it was

986
01:00:28,360 --> 01:00:31,760
like not worth it to call the scrap metal dealer.

987
01:00:31,599 --> 01:00:33,519
Speaker 4: What did you do with it? We made it.

988
01:00:33,519 --> 01:00:36,039
Speaker 2: We made a lot of those things work. Oh you

989
01:00:36,039 --> 01:00:40,679
did plastic injection molding machines and we made work and

990
01:00:40,719 --> 01:00:43,440
the paint robots, we mostly made those work. That the

991
01:00:43,480 --> 01:00:45,760
assembly that the body production line had to be made

992
01:00:45,960 --> 01:00:48,679
new because they constructed there was just nothing. So we

993
01:00:48,760 --> 01:00:51,679
made the body production line for month Less was created

994
01:00:51,719 --> 01:00:52,239
from scratch.

995
01:00:54,480 --> 01:00:55,039
Speaker 4: Yeah, and.

996
01:00:57,199 --> 01:01:01,119
Speaker 2: Worked out, but it was very difficult. It's also in

997
01:01:01,119 --> 01:01:04,679
the beginning, the the top suppliers would not work with

998
01:01:04,760 --> 01:01:08,559
us or we would get like their D team because

999
01:01:08,599 --> 01:01:11,320
like who wants you know, if if they like they

1000
01:01:11,400 --> 01:01:14,119
got all the customers, like they've got you know, the

1001
01:01:14,159 --> 01:01:16,960
big car companies they got like Toyota, or they got

1002
01:01:17,000 --> 01:01:21,880
you know, I. E. And W forward as customers and

1003
01:01:21,880 --> 01:01:25,719
and a startup. Who Now you're you're in the pliers position.

1004
01:01:25,880 --> 01:01:27,639
Which team are you going to sign to us to

1005
01:01:27,719 --> 01:01:31,400
start up that everyone says going bankrupt? You're gonna sign

1006
01:01:31,440 --> 01:01:35,519
assign the interns and rejects. Okay, it's not going to

1007
01:01:35,559 --> 01:01:37,320
be your top team. The same thing with the top

1008
01:01:37,320 --> 01:01:39,800
team is going to go to like Toyota, you know,

1009
01:01:40,039 --> 01:01:42,320
your big customers, the top teams. So we would get

1010
01:01:42,320 --> 01:01:44,760
the worst team usually at the supplier company. If the

1011
01:01:44,760 --> 01:01:45,880
supply would even work with.

1012
01:01:45,880 --> 01:01:48,719
Speaker 5: Us, You think that influenced you to vertically integrate more.

1013
01:01:49,199 --> 01:01:54,440
It was vertically integrate or die makes sense. Yeah, we

1014
01:01:54,559 --> 01:01:58,159
tried outsourcing the battery production originally was going to be

1015
01:01:58,159 --> 01:02:02,119
made at this place that made I think barbecue grills

1016
01:02:02,159 --> 01:02:08,239
in Thailand. Yeah, and I was like, man, they have

1017
01:02:08,239 --> 01:02:09,719
no idea how to make a battery.

1018
01:02:09,800 --> 01:02:12,239
Speaker 4: And I was like, this is crazy. We're moving it to.

1019
01:02:14,840 --> 01:02:18,039
Speaker 2: Back to headquarters in Strlis and we're gonna make it

1020
01:02:18,079 --> 01:02:24,039
here because they're basically once there's a massive amount of

1021
01:02:24,039 --> 01:02:28,000
work going from a prototype to production, and so you

1022
01:02:28,000 --> 01:02:31,159
need a fast feedback loop with engineering, and if that

1023
01:02:31,360 --> 01:02:33,599
feedback loop is all the way out in Thailand is

1024
01:02:33,719 --> 01:02:36,199
just no way. It's it's like, it's not like it's

1025
01:02:36,519 --> 01:02:38,760
if you have an existing production line that you already

1026
01:02:38,840 --> 01:02:41,360
know how to make it a volume that you can move,

1027
01:02:41,760 --> 01:02:45,400
but you cannot create a production line never existed that's

1028
01:02:45,400 --> 01:02:48,960
super far away from where the engineers are. It's gonna

1029
01:02:48,960 --> 01:02:52,199
it's red beef disaster. And also the cells were coming

1030
01:02:52,199 --> 01:02:55,119
from Japan, so they go from Japan, they go to Thailand,

1031
01:02:55,159 --> 01:02:57,400
they go through customs, they'll be waiting and that then

1032
01:02:57,440 --> 01:02:59,719
they'd be going to a battery packed. Then that battery

1033
01:02:59,760 --> 01:03:03,199
pack were sent to England, then Lotus if this is

1034
01:03:03,360 --> 01:03:07,760
this is these all things that got changed, but the

1035
01:03:07,800 --> 01:03:09,639
supply chain, like let's say they've been a problem with

1036
01:03:09,639 --> 01:03:11,880
the cells, you would only find if this plan years

1037
01:03:11,960 --> 01:03:13,920
change was so long that you would only find out

1038
01:03:13,960 --> 01:03:15,559
that it didn't work five months later.

1039
01:03:15,960 --> 01:03:16,360
Speaker 11: Yikes.

1040
01:03:17,679 --> 01:03:20,000
Speaker 2: Yeah, and then you have five months of scrap inventory.

1041
01:03:20,360 --> 01:03:25,159
So this is a recipe for a disaster. So that

1042
01:03:25,159 --> 01:03:29,519
that got moved to Saint Carlos sales ship directly to

1043
01:03:29,679 --> 01:03:34,039
Saint Carlos. Put it in a module, figure out why

1044
01:03:34,039 --> 01:03:37,800
the module's not working, fix it, maybe put into a pack,

1045
01:03:39,039 --> 01:03:41,400
like there is no reason why the roast of battery

1046
01:03:41,400 --> 01:03:43,800
pack had like it was like sixteen sort of blades

1047
01:03:44,360 --> 01:03:47,480
was if was modules, if one of them didn't work,

1048
01:03:47,480 --> 01:03:49,119
you could pull it out and put another one in.

1049
01:03:51,440 --> 01:03:57,199
Because that happened, then we can then Yeah, so you

1050
01:03:57,239 --> 01:03:59,400
don't really need modules in my view, should just go

1051
01:03:59,440 --> 01:04:05,000
from cells pack at this point. But yeah, it was

1052
01:04:05,039 --> 01:04:08,480
a very difficult thing going from roads to to modelized.

1053
01:04:08,559 --> 01:04:10,559
Speaker 5: The fact that like the Model three still has modules

1054
01:04:10,639 --> 01:04:12,000
is kind of vestigial.

1055
01:04:11,719 --> 01:04:12,440
Speaker 4: It's fastigial.

1056
01:04:12,920 --> 01:04:16,360
Speaker 2: Yeah, because if the modules the model three are not

1057
01:04:16,559 --> 01:04:20,960
actually interchangeable, so there's no point in modules.

1058
01:04:21,000 --> 01:04:23,039
Speaker 4: Really, you just have a should just have a pack.

1059
01:04:25,599 --> 01:04:27,599
Speaker 10: Was that done? Is just save costs then or or

1060
01:04:27,719 --> 01:04:28,599
some other reason.

1061
01:04:29,000 --> 01:04:33,519
Speaker 4: It start off because it's not it's not a sensible reason.

1062
01:04:35,519 --> 01:04:39,960
Speaker 2: The reason that there were seals modules and pack goes

1063
01:04:40,000 --> 01:04:43,119
back to the early roads to days, where we'd make

1064
01:04:43,159 --> 01:04:46,599
a module, that module would have problems and so then

1065
01:04:46,599 --> 01:04:48,599
you could flop out a module. It's like like a

1066
01:04:48,639 --> 01:04:50,880
server act. The idea was like, you know, if you

1067
01:04:50,880 --> 01:04:52,920
have a bunch of servers in a server room and

1068
01:04:53,000 --> 01:04:55,800
one of the servers flakes out, you can pull it out,

1069
01:04:56,199 --> 01:04:59,880
put another round. So without avagur replace, so you could

1070
01:05:00,079 --> 01:05:02,599
place a small fraction of pack instead of the whole pack.

1071
01:05:04,239 --> 01:05:06,719
Then that then that concept just carried forward into Model

1072
01:05:06,800 --> 01:05:11,599
s X and three, but without the the original logic

1073
01:05:11,679 --> 01:05:15,920
no longer exists because the modules are not interchangeable. You

1074
01:05:15,960 --> 01:05:22,760
can't just swap out a module. So but these things

1075
01:05:22,800 --> 01:05:28,000
just have a lot of innotia. So we really want

1076
01:05:28,000 --> 01:05:31,039
to move to no such thing as a module as

1077
01:05:31,079 --> 01:05:31,880
just sells and pack.

1078
01:05:32,920 --> 01:05:35,960
Speaker 12: Yeah, yeah, because I mean, initially they had the battery

1079
01:05:36,000 --> 01:05:39,280
swap facility right at Harris Ring, I mean, and then

1080
01:05:39,320 --> 01:05:41,079
the Model three. I don't think I have that capability

1081
01:05:41,119 --> 01:05:43,639
that you could actually swap the whole pack out quickly, right.

1082
01:05:44,559 --> 01:05:48,920
Speaker 2: Don't It does not right, SNX still have the ability

1083
01:05:48,960 --> 01:05:52,960
to do a fast pack swap. But things essentially evolved

1084
01:05:52,960 --> 01:05:55,320
in the same direction that phones evolved. You know, for

1085
01:05:55,360 --> 01:05:59,000
a long time phones had swappable battery packs, and now

1086
01:05:59,599 --> 01:06:01,800
basically nobody, almost nobody makes a phone with a swapt

1087
01:06:01,800 --> 01:06:05,000
full of battery pack. As soon as the range gets

1088
01:06:05,000 --> 01:06:08,199
past a certain point. Then I agree, yeah, it doesn't

1089
01:06:08,239 --> 01:06:10,639
make sense. But but this was far from clear at

1090
01:06:10,639 --> 01:06:13,599
the time of designing the modeless, So we weren't in

1091
01:06:13,639 --> 01:06:17,159
a lot of trouble to make the SNX pack capable

1092
01:06:17,199 --> 01:06:20,280
of of a fast swap with quick disconnects and bolts

1093
01:06:20,320 --> 01:06:22,079
coming only from the bottom and that kind of thing.

1094
01:06:22,480 --> 01:06:25,000
And then we did that demo. We're just swapped out

1095
01:06:25,079 --> 01:06:27,079
two packs faster than full of gas.

1096
01:06:27,159 --> 01:06:27,719
Speaker 4: It's amazing.

1097
01:06:28,760 --> 01:06:32,159
Speaker 5: It's kind of ridiculous to me, like taking the battery

1098
01:06:32,159 --> 01:06:35,159
out of your cars some you know, Harris Ranch, and

1099
01:06:35,960 --> 01:06:37,960
put a new battery in and you come back it

1100
01:06:38,039 --> 01:06:40,639
was kind of like, it's good that super charging got

1101
01:06:40,639 --> 01:06:41,199
a lot better.

1102
01:06:41,760 --> 01:06:45,000
Speaker 2: Yeah, it was just way better to to increase the

1103
01:06:45,079 --> 01:06:49,320
range of the pack and have better faster charging. So

1104
01:06:51,280 --> 01:06:54,960
but but this debate, which seems obvious in retrospect, was

1105
01:06:55,000 --> 01:07:00,320
not obvious at the time. And yeah, back then, I

1106
01:07:00,400 --> 01:07:04,400
think at least a lot of phones had swappable packs

1107
01:07:05,480 --> 01:07:08,719
because this was would have been designed in you know,

1108
01:07:08,920 --> 01:07:11,039
we had the first prototype out in twenty ten for

1109
01:07:11,119 --> 01:07:16,360
the modeless, So back twenty ten, let's say, the thought

1110
01:07:16,360 --> 01:07:18,320
process going into this in two thousand and nine would

1111
01:07:18,320 --> 01:07:21,280
have been, you know, at a time when I don't know,

1112
01:07:21,280 --> 01:07:24,400
maybe most phones had softable packs or something like that.

1113
01:07:24,440 --> 01:07:26,639
You know, the iPhone was like two thousand and seven

1114
01:07:26,719 --> 01:07:32,960
or something, iPhone one. And yeah, so then it doesn't

1115
01:07:33,039 --> 01:07:37,119
didn't make sense. But you know, copanies have a lot

1116
01:07:37,119 --> 01:07:40,199
of momentum. So the the sn X pack is still

1117
01:07:40,199 --> 01:07:44,599
a soppable pack because they say it was like two

1118
01:07:44,639 --> 01:07:47,440
hour trials to change the design. And Model three still

1119
01:07:47,480 --> 01:07:52,280
has modules even though twodn't have modules, and somebody we

1120
01:07:52,440 --> 01:07:54,280
like what you'll see in any given product is that

1121
01:07:54,360 --> 01:07:59,840
the errors in the structure of an organization will manifest

1122
01:07:59,880 --> 01:08:04,840
them selves in the product. So you know that's where Well,

1123
01:08:04,840 --> 01:08:07,400
we have a module team, so we have modules like ways,

1124
01:08:07,440 --> 01:08:10,639
I just combine the module team with the pack team

1125
01:08:10,679 --> 01:08:15,599
and then the WIL modules. So generally the Yeah, the

1126
01:08:15,719 --> 01:08:17,920
errors in the organization manifest themselves in the product.

1127
01:08:19,720 --> 01:08:22,960
Speaker 4: You can see where the organizational boundaries are. Uh.

1128
01:08:24,000 --> 01:08:25,840
Speaker 2: And then then you off and get like a box

1129
01:08:25,920 --> 01:08:27,479
in a box. It's like, wait, why is this thing

1130
01:08:27,560 --> 01:08:32,159
have two boxes? Well, because this team wanted to have

1131
01:08:32,199 --> 01:08:34,279
an enclosure and this team wanted to have an enclosure,

1132
01:08:34,760 --> 01:08:40,199
and so they have an enclosure on an enclosure. This

1133
01:08:40,239 --> 01:08:43,279
is still the case with the sound It's like, what

1134
01:08:43,359 --> 01:08:45,279
a silly thing, But that's actually the case with the

1135
01:08:45,319 --> 01:08:49,520
Model three. Well three battery pack has a top enclosure

1136
01:08:49,880 --> 01:08:52,880
and the car also has an underbody. Yep, what's the

1137
01:08:52,880 --> 01:08:57,000
point of that. That doesn't make any sense because the

1138
01:08:57,039 --> 01:08:59,079
pack the pack team wanted to have an enclosed battery

1139
01:08:59,119 --> 01:09:02,840
pack and the body team wanted to happen in closed body.

1140
01:09:03,359 --> 01:09:04,960
Yeah it makes sense, but you don't.

1141
01:09:04,800 --> 01:09:05,039
Speaker 4: Need to.

1142
01:09:07,439 --> 01:09:13,079
Speaker 2: So yeah, awesome, this is all this and and putting

1143
01:09:13,079 --> 01:09:14,680
the top cover on the battery pack is a big

1144
01:09:14,720 --> 01:09:18,119
pain in the neck. So as mass and class and stuff,

1145
01:09:18,119 --> 01:09:19,600
so that should definitely go away in the future.

1146
01:09:22,640 --> 01:09:25,119
Speaker 4: Lots of brackets on brackets, that kind of thing.

1147
01:09:26,279 --> 01:09:29,439
Speaker 12: So you survived the production hell of the Model three,

1148
01:09:30,000 --> 01:09:32,039
which was pretty intense.

1149
01:09:32,279 --> 01:09:38,399
Speaker 2: I mean that was like, it's stupidously difficult, and I mean,

1150
01:09:38,399 --> 01:09:38,880
I think it's.

1151
01:09:41,680 --> 01:09:42,159
Speaker 4: It has a.

1152
01:09:44,319 --> 01:09:45,800
Speaker 2: I don't know if it's accur up, but I think

1153
01:09:46,319 --> 01:09:49,840
might be accurate. Is the first company co company to

1154
01:09:49,840 --> 01:09:53,399
reach volume production I think on an eighty eighty or

1155
01:09:53,439 --> 01:09:54,159
ninety years.

1156
01:09:54,039 --> 01:09:56,720
Speaker 4: Or something like that in the US.

1157
01:09:56,800 --> 01:09:58,920
Speaker 1: Yeah, And it's a harder time to do it for sure.

1158
01:09:59,239 --> 01:10:00,319
Speaker 4: Yeah.

1159
01:10:00,439 --> 01:10:03,880
Speaker 2: The complexity of of like what people the regulatory requirements

1160
01:10:03,920 --> 01:10:06,760
and the minimum expectations for a car at this point

1161
01:10:06,800 --> 01:10:10,079
are dramatically more than they were eighty or ninety years ago.

1162
01:10:10,359 --> 01:10:11,920
Speaker 1: And the place you chose to do it too.

1163
01:10:14,359 --> 01:10:18,600
Speaker 2: Yeah, so that was it was a super difficult one.

1164
01:10:21,560 --> 01:10:24,880
I mean there's like there's lots of car company startups,

1165
01:10:24,880 --> 01:10:28,039
but that's doing the prototype is the easy part. Building

1166
01:10:28,079 --> 01:10:33,319
the production system is one hundred times hotter. So I

1167
01:10:33,319 --> 01:10:36,800
mean that's where you see the things fail, like they've

1168
01:10:36,800 --> 01:10:40,000
been over the course of the last century, probably thousands

1169
01:10:40,039 --> 01:10:42,279
of car company startups, most of which people have never

1170
01:10:42,279 --> 01:10:44,880
heard about, you know, occasionally hear about something like a

1171
01:10:44,920 --> 01:10:50,359
Dorian or Attucker. Most of them there's there's there's not

1172
01:10:50,439 --> 01:10:54,840
even a footnote, and it's it's because of the difficulty

1173
01:10:54,840 --> 01:11:00,319
of production. And then and here's a real important point

1174
01:11:00,439 --> 01:11:02,600
that is not well appreciated. This is a point that

1175
01:11:02,640 --> 01:11:05,079
should be advanced by short sellers. But I'm not seen,

1176
01:11:06,560 --> 01:11:12,640
I'm not seen it articulated, which it should be. The

1177
01:11:12,760 --> 01:11:16,600
incumbent car companies make most of their money from selling

1178
01:11:17,279 --> 01:11:22,600
spare parts to the existing fleet at high margins, and

1179
01:11:22,640 --> 01:11:27,159
they'll sell the new cars either it de factos zero

1180
01:11:27,239 --> 01:11:29,840
margin or even at a loss. It's kind of like

1181
01:11:31,039 --> 01:11:34,800
printers and cartridges or razors and blades. You sell the

1182
01:11:35,000 --> 01:11:37,800
razor at a loss, celebrates of profits, sell printer at

1183
01:11:37,800 --> 01:11:42,079
the last sequartris and a profit. Or video game consoles.

1184
01:11:43,359 --> 01:11:45,680
You know, the actual cost of say an Xbox is

1185
01:11:45,720 --> 01:11:47,279
six hundred dollars, we can buy it for three or

1186
01:11:47,319 --> 01:11:49,239
four hundred dollars because they make it up in the

1187
01:11:49,319 --> 01:11:50,960
games that are boord So.

1188
01:11:52,760 --> 01:11:54,439
Speaker 4: This is this now.

1189
01:11:55,079 --> 01:11:57,600
Speaker 2: So if you're a new company, you do not have

1190
01:11:57,680 --> 01:12:01,439
a fleet, so you have no fleet with which to

1191
01:12:01,479 --> 01:12:06,520
subsidize the sale of your new cars. This is the

1192
01:12:07,199 --> 01:12:09,359
this is the primary reason there has not been a

1193
01:12:09,439 --> 01:12:12,680
successful car company start up in the United States. This

1194
01:12:12,840 --> 01:12:21,119
is the primary reason. So because the incoming car companies

1195
01:12:21,159 --> 01:12:23,199
have eighty percent of their fleet outside of a warranty

1196
01:12:23,279 --> 01:12:25,760
or something like that. Maybe it's seventy percent, but approximately, Like,

1197
01:12:25,800 --> 01:12:29,600
if a car lasts for say twenty years or something

1198
01:12:29,680 --> 01:12:32,399
like that, and the warranty is for four years, then

1199
01:12:32,600 --> 01:12:37,960
it's eighty percent out of warranty. So even if they

1200
01:12:38,000 --> 01:12:42,239
stopped selling new cars, they would still the profit would increase.

1201
01:12:44,479 --> 01:12:48,520
Speaker 5: So, according to Edmunds, dealerships make twenty percent of their

1202
01:12:48,560 --> 01:12:51,600
revenue but fifty percent of their profits on service.

1203
01:12:51,920 --> 01:12:59,199
Speaker 2: Yeah, exactly so, and the the car companies themselves will

1204
01:12:59,239 --> 01:13:01,159
often make more than one hundred percent of their profit

1205
01:13:01,319 --> 01:13:03,039
on selling spare parts.

1206
01:13:03,359 --> 01:13:04,159
Speaker 4: Wow. Yeah.

1207
01:13:04,399 --> 01:13:06,800
Speaker 2: So if like, if at the point in which they're

1208
01:13:06,800 --> 01:13:08,439
making stay one hundred and ten percent of the profit

1209
01:13:08,520 --> 01:13:10,680
from selling spare parts, it means that they're actually selling

1210
01:13:10,720 --> 01:13:14,279
the new class Atalyzes. So this this is a this

1211
01:13:14,479 --> 01:13:18,159
is the very difficult thing to overcome. In order to

1212
01:13:18,199 --> 01:13:23,319
overcome it, the a car has to be significantly more

1213
01:13:23,359 --> 01:13:27,960
compelling then other than other vehicles, such that people are

1214
01:13:28,039 --> 01:13:31,359
willing to pay a premium, and that you can.

1215
01:13:31,399 --> 01:13:35,920
Speaker 4: Actually be prizitive cash flow.

1216
01:13:37,239 --> 01:13:41,920
Speaker 2: Aspirationally profitable selling new cars, not simply selling spare parts

1217
01:13:41,920 --> 01:13:46,520
of the fleet. So I mean, for Tesla's fleet, is

1218
01:13:47,039 --> 01:13:51,359
probably ten percent of Tesla's fleet or selling in less

1219
01:13:51,359 --> 01:13:54,720
than twenty percent is out of warranty, whereas eighty percent

1220
01:13:54,840 --> 01:13:56,840
of the other car makers is out of warranty. So

1221
01:13:58,319 --> 01:14:01,520
this makes it very difficult. Also, electric cars need much

1222
01:14:01,600 --> 01:14:07,800
less servicing, so that that's another difficult thing. So so

1223
01:14:08,079 --> 01:14:11,439
this is this is the main this should be the

1224
01:14:11,520 --> 01:14:15,000
main argument advanced. I think for why a car a

1225
01:14:15,079 --> 01:14:20,560
new cock company cannot be successful the main one. And

1226
01:14:20,720 --> 01:14:23,319
so yeah, then, like I said, the in order for

1227
01:14:23,520 --> 01:14:25,439
that car to have cock company to have any chance,

1228
01:14:25,479 --> 01:14:29,039
there must be it must be compelling enough that people

1229
01:14:29,039 --> 01:14:33,039
will pay for you. Otherwise there's no chance. And I

1230
01:14:33,079 --> 01:14:35,000
think there's actually in order for a cock company to

1231
01:14:35,039 --> 01:14:40,039
be successful, it has to succeed on two on two

1232
01:14:40,119 --> 01:14:44,560
fundamental technology discontinuities, one being electrification, the other one being autonomy.

1233
01:14:45,279 --> 01:14:47,920
I think not even even pure electrification by itself is

1234
01:14:48,000 --> 01:14:53,399
not enough. So you can, like it says the movie

1235
01:14:53,399 --> 01:14:57,159
production line, there there have been two major technology step

1236
01:14:57,239 --> 01:15:02,119
changes being electrification and aton me and the combination of

1237
01:15:02,199 --> 01:15:04,920
those two is the only thing that's the only opening

1238
01:15:05,000 --> 01:15:06,479
for a new cock company to make it.

1239
01:15:08,479 --> 01:15:11,960
Speaker 5: Yeah, makes sense. I mean, without autonomy, you'd probably have

1240
01:15:12,039 --> 01:15:16,840
to wait for EVS to reach price parody. With autonomy,

1241
01:15:16,880 --> 01:15:20,119
you can drive many more miles and bridge that gap easier.

1242
01:15:20,840 --> 01:15:23,000
Speaker 3: And it's like, well, Tesla's mote in some ways or

1243
01:15:23,239 --> 01:15:26,399
not mote, I guess, but like Tesla's advantage in many

1244
01:15:26,439 --> 01:15:29,399
ways is bigger because like, these are two such different

1245
01:15:29,520 --> 01:15:31,760
technologies that are happening at once that you've been working

1246
01:15:31,800 --> 01:15:33,760
on while nobody else has. So it's like that much

1247
01:15:33,800 --> 01:15:35,800
harder to replicate now that it's been accomplished.

1248
01:15:35,840 --> 01:15:42,239
Speaker 2: Almost, it's very hard for it's very hard for any

1249
01:15:42,720 --> 01:15:48,439
any new C company to end of the market. That

1250
01:15:48,560 --> 01:15:52,600
they have to make it a very compelling product, I

1251
01:15:52,680 --> 01:15:56,000
meaning they have to have some significant technology advancements in

1252
01:15:56,079 --> 01:16:01,479
the electric drive train and the battery pack and just

1253
01:16:01,600 --> 01:16:05,119
generally with the car itself, and then the autonomy has

1254
01:16:05,159 --> 01:16:07,960
to be very compelling. Autonomy in and of itself is enormous,

1255
01:16:09,279 --> 01:16:15,000
so that both of those things company must be successful

1256
01:16:15,760 --> 01:16:19,560
in doing or they will end up in the cemetery.

1257
01:16:20,920 --> 01:16:22,840
So that's that's the real challenge of it.

1258
01:16:26,960 --> 01:16:30,079
Speaker 12: Yeah, well even with like the I mean the software updates.

1259
01:16:30,079 --> 01:16:32,600
I mean that's something that no other manufacturer can really

1260
01:16:32,640 --> 01:16:34,479
even get right. They can't do it over the air.

1261
01:16:34,840 --> 01:16:36,840
You have to take your car into you know, because

1262
01:16:36,840 --> 01:16:39,279
it doesn't work right. So that's a core component of

1263
01:16:39,760 --> 01:16:43,560
providing updates. Instead of getting your revenue now from the

1264
01:16:43,680 --> 01:16:47,079
dealership and spare parts stuff, you can actually send software

1265
01:16:47,119 --> 01:16:47,640
as a service.

1266
01:16:47,680 --> 01:16:47,840
Speaker 6: You know.

1267
01:16:47,880 --> 01:16:49,359
Speaker 10: We actually did a whole podcasts on this.

1268
01:16:50,239 --> 01:16:53,880
Speaker 2: Well, I've all this is to minimize service costs, whereas

1269
01:16:54,000 --> 01:16:56,800
the other companies this is I wouldn't say that goes

1270
01:16:56,800 --> 01:16:59,199
to maximize service costs, but it's certainly not to minimize it.

1271
01:17:01,279 --> 01:17:05,600
Speaker 8: The car companies also have two different businesses as the dealerships,

1272
01:17:05,760 --> 01:17:12,079
where their business is actually just service. And I don't

1273
01:17:12,119 --> 01:17:15,000
think it's anyone's surprised that that people don't like going

1274
01:17:15,039 --> 01:17:18,239
to their dealer. I mean it's like it's it's because

1275
01:17:18,319 --> 01:17:21,479
their incentives are actually not aligned with the with the

1276
01:17:21,520 --> 01:17:25,159
customers incentives. Their goal is bring you back as often

1277
01:17:25,199 --> 01:17:25,800
as possible.

1278
01:17:27,600 --> 01:17:30,079
Speaker 2: Yeah, there were the dealerships, and saves also misligned with

1279
01:17:30,199 --> 01:17:33,600
the the car companies in the during the warranty period

1280
01:17:33,680 --> 01:17:37,439
because the warrant, the car company has to pay for

1281
01:17:37,720 --> 01:17:39,960
the warranty that the service during warranty.

1282
01:17:40,800 --> 01:17:44,359
Speaker 4: Uh So it's so it's that they have a conflict

1283
01:17:44,439 --> 01:17:48,239
of you can contrivate contradict of interests.

1284
01:17:50,840 --> 01:17:53,239
Speaker 2: Yeah, the car companies to cover the warranty costs, but

1285
01:17:53,680 --> 01:17:57,239
the dealership makes profit on the servicing, so they want

1286
01:17:57,239 --> 01:17:59,760
to maximize servicing even during the warranty period.

1287
01:18:01,159 --> 01:18:01,319
Speaker 4: Yeah.

1288
01:18:01,319 --> 01:18:04,279
Speaker 5: It's almost like the economic factors you just mentioned have

1289
01:18:04,399 --> 01:18:07,800
created like a complacency where there is no innovation because

1290
01:18:08,800 --> 01:18:12,039
you know, nobody can just start a car company.

1291
01:18:12,359 --> 01:18:19,640
Speaker 2: Yeah right, I mean it's like Schumpetter's creative destruction. You know,

1292
01:18:19,760 --> 01:18:22,520
there's like innovation tends to come from new entrants to

1293
01:18:22,600 --> 01:18:26,359
an industry. So if there's if an industry has formed

1294
01:18:26,439 --> 01:18:31,000
an oligopolg or something like that, then the forcing function

1295
01:18:31,680 --> 01:18:34,479
is weak for innovation because innovation tends to come from

1296
01:18:34,520 --> 01:18:42,880
new entrants. Yeah, this is a problem with rockets. There's

1297
01:18:43,359 --> 01:18:47,000
no allowed new entrants, so innovation forcing function is weak.

1298
01:18:49,520 --> 01:18:52,359
Speaker 1: But it's encouraging to see rocket booster land and everyone

1299
01:18:52,479 --> 01:18:53,760
is all like, wow, we can't innovate.

1300
01:18:53,840 --> 01:18:59,479
Speaker 2: Maybe Yeah, it's actually been surprising how little innovation that's

1301
01:18:59,520 --> 01:19:05,479
been on. And despite SpaceX showing reusable rockets, landing and

1302
01:19:05,560 --> 01:19:09,439
reflying these rockets, many times they're like, come on, you

1303
01:19:09,520 --> 01:19:13,159
know this Covey itt something the same.

1304
01:19:14,159 --> 01:19:15,720
Speaker 10: Yeah, tech works just.

1305
01:19:16,119 --> 01:19:16,800
Speaker 4: Do the same thing.

1306
01:19:17,039 --> 01:19:20,079
Speaker 6: Didn't like Chinese space companies started putting grid fins on

1307
01:19:20,119 --> 01:19:20,680
their rockets.

1308
01:19:21,039 --> 01:19:23,640
Speaker 2: I think there's some Chinese rocks that have launched with

1309
01:19:23,680 --> 01:19:27,239
grid fins. Well, you can really use any kind of fin.

1310
01:19:29,319 --> 01:19:33,199
Grid fin is just more predictable across a wide range

1311
01:19:33,199 --> 01:19:38,359
of speeds, So from hypersonics through you know, supersonic, transonic, subsonic,

1312
01:19:39,279 --> 01:19:44,439
they're they're just it's quite easy to predict the behavior

1313
01:19:44,600 --> 01:19:46,520
of a gridfin and the center of pressure where a

1314
01:19:46,520 --> 01:19:48,640
grid fin doesn't change that much, whereas if you have

1315
01:19:48,760 --> 01:19:52,399
a you know, fin fin, like a wing looking thing,

1316
01:19:52,880 --> 01:19:55,000
that you'll see quite a big change in where the

1317
01:19:55,039 --> 01:19:57,640
center of pressure is across a.

1318
01:19:57,680 --> 01:20:05,640
Speaker 4: Wide moss regime. Either one or to work the shuttle

1319
01:20:05,640 --> 01:20:06,399
didn't have griffins.

1320
01:20:08,560 --> 01:20:10,560
Speaker 6: What do you think about rock and lapse approach of

1321
01:20:10,720 --> 01:20:14,239
trying to use a helicopter to recover the first stage.

1322
01:20:16,880 --> 01:20:21,359
Speaker 2: Yeah, I think that's gonna be harder than it seems so,

1323
01:20:22,920 --> 01:20:26,960
but there are boosters quite small, so that the issue

1324
01:20:27,000 --> 01:20:30,840
with the helicopters you run into a max lower problem,

1325
01:20:31,279 --> 01:20:33,520
like the lifting capability of helicopter is not that great,

1326
01:20:34,199 --> 01:20:37,560
and that lifting capability drops with altitude, and then the

1327
01:20:37,720 --> 01:20:40,920
range of helicopters also not that great. So so then

1328
01:20:40,960 --> 01:20:44,520
you end up having to helicopter on a show. And

1329
01:20:44,640 --> 01:20:47,439
then if in that in heavy weather conditions, you can't

1330
01:20:47,439 --> 01:20:50,800
take off, so that you're gonna you have to be

1331
01:20:51,760 --> 01:20:55,920
your weather constraints at the launch point and the catch

1332
01:20:56,000 --> 01:21:00,760
point are end up limiting your launch availability mm hmm.

1333
01:21:02,760 --> 01:21:05,760
And then then you've gotta it's it's it's dangerous. You know,

1334
01:21:05,800 --> 01:21:09,319
you've got somebody in a helicopter with with a you know,

1335
01:21:09,439 --> 01:21:12,079
pilot trying to catch this thing coming out of the skuy.

1336
01:21:15,479 --> 01:21:19,039
It doesn't sound insane, there's a there's certainly the potential

1337
01:21:19,199 --> 01:21:25,039
for somebody, you know, somebody to go wrong. Whereas if

1338
01:21:25,079 --> 01:21:27,840
you have a growing chip's you know, if it's smashes

1339
01:21:27,880 --> 01:21:29,159
into drown ship, it's not a big deal.

1340
01:21:29,199 --> 01:21:33,000
Speaker 4: But smashing into helicopter that's a big deal. Yeah, So.

1341
01:21:34,520 --> 01:21:36,359
Speaker 2: You know, overall I've been you know that that's what

1342
01:21:36,439 --> 01:21:40,279
I've been pretty impressed with rocket Lab and they're mad,

1343
01:21:40,359 --> 01:21:44,039
they're making they're making a go of it, and they're

1344
01:21:44,079 --> 01:21:44,920
they're gonna.

1345
01:21:46,199 --> 01:21:49,520
Speaker 4: Do reasonability, which is important. It's fundamental.

1346
01:21:53,039 --> 01:21:55,640
Speaker 5: Do you guys still see yourself doing that city to

1347
01:21:55,720 --> 01:21:57,520
city travel in thirty minutes one day?

1348
01:21:59,000 --> 01:21:59,840
Speaker 1: Yeah, there's more.

1349
01:22:00,079 --> 01:22:03,720
Speaker 4: Yeah, I think they can. For sure it can be done. Yeah,

1350
01:22:03,800 --> 01:22:06,000
for sure can be done. It is it is loud.

1351
01:22:06,600 --> 01:22:10,880
Speaker 2: That's that it's really annoys Is that the biggest concern there,

1352
01:22:12,640 --> 01:22:15,640
both taking off and landing. When it comes in for landing,

1353
01:22:15,720 --> 01:22:23,119
that sonic boom is loud. It's like, yeah, there's actually

1354
01:22:23,119 --> 01:22:28,359
two sonic booms. So it sounds like somebody just discharged

1355
01:22:28,359 --> 01:22:33,079
the double barl shotgun in your backyard. So it's not

1356
01:22:33,159 --> 01:22:36,000
like it's breaking windows or anything, but it's like, it's

1357
01:22:36,079 --> 01:22:37,960
be pretty annoying if it's happening on a regular basis.

1358
01:22:40,479 --> 01:22:42,680
Speaker 4: That's basically water amounts you.

1359
01:22:42,720 --> 01:22:46,720
Speaker 2: So that you have to off. Sure, So I think

1360
01:22:46,760 --> 01:22:53,239
we'll do. But it can be done, definitely. It's the

1361
01:22:53,319 --> 01:22:56,760
fastest way to get anywhere based on non physics, so

1362
01:22:58,920 --> 01:23:00,680
and I think the economics can be made to work

1363
01:23:00,720 --> 01:23:04,359
as well, so that it would be competitive with international

1364
01:23:04,760 --> 01:23:05,359
air travel.

1365
01:23:05,560 --> 01:23:10,399
Speaker 11: Wow, I can't wait for that. I travel a lot

1366
01:23:10,560 --> 01:23:15,039
like today, asier like minium, like twelve hour to fourteen.

1367
01:23:16,520 --> 01:23:18,079
Speaker 1: Will you try to keep most of the launches around

1368
01:23:18,079 --> 01:23:19,800
the equator just or would it matter?

1369
01:23:20,079 --> 01:23:23,880
Speaker 4: Like it doesn't matter a ton.

1370
01:23:27,119 --> 01:23:30,880
Speaker 2: It matters if you're going east to know, if you

1371
01:23:31,079 --> 01:23:33,279
if you launch east, you have the advantage of the

1372
01:23:33,319 --> 01:23:36,720
oath rotation, the closer are of the equator and more,

1373
01:23:36,720 --> 01:23:40,199
you can take advantage of Earth rotation if you if

1374
01:23:40,239 --> 01:23:43,520
you fly west, you're actually counteracting US rotation, so you're

1375
01:23:44,199 --> 01:23:49,279
the LTI blast that you need is higher, but you

1376
01:23:49,399 --> 01:23:54,079
go in either direction. I think one of our one

1377
01:23:54,079 --> 01:23:57,000
of our upcoming launches is actually a retrogate retrograde flight,

1378
01:23:58,399 --> 01:24:02,479
so it's going to go against the lit'll.

1379
01:24:01,680 --> 01:24:02,279
Speaker 1: Be fun to watch.

1380
01:24:03,279 --> 01:24:05,920
Speaker 6: Yeah, But if Starship is going to launch so many

1381
01:24:06,000 --> 01:24:08,800
times a day, how are you going to produce all

1382
01:24:08,840 --> 01:24:12,279
these raptors? Because we've been we've been touring the SpaceX

1383
01:24:12,359 --> 01:24:14,920
factory in author On and you're doing you're making them

1384
01:24:14,960 --> 01:24:17,640
by hand, right? Are you going to automate any of this? Yeah?

1385
01:24:17,640 --> 01:24:20,640
Speaker 2: I wouldn't say it's being made by hand, being assembled

1386
01:24:20,680 --> 01:24:24,960
by hand maybe, but yeah, we have a lot of

1387
01:24:25,079 --> 01:24:29,039
metal printers with a whole Yeah, three D, three D

1388
01:24:29,159 --> 01:24:29,800
metal printing.

1389
01:24:30,000 --> 01:24:32,479
Speaker 4: Wow, Yeah, I love it. I mean I think.

1390
01:24:32,399 --> 01:24:35,239
Speaker 2: SpaceX is pushing the envelope with metal printing more than

1391
01:24:35,279 --> 01:24:37,640
anyone else. At least that's what's the splash tell us.

1392
01:24:39,520 --> 01:24:44,079
So we also have a foundry. Uh, that's we do

1393
01:24:44,359 --> 01:24:49,760
are casting of exotic parts for a Raptor with a

1394
01:24:49,800 --> 01:24:53,920
lot of CNC machines. It's a very complicated engine to build.

1395
01:24:55,520 --> 01:24:58,600
Merlin looks like a toy relative to Raptor. It's very simple.

1396
01:24:59,760 --> 01:25:03,159
Speaker 4: But we're going to make a lot of rafts and starships.

1397
01:25:04,640 --> 01:25:07,960
Speaker 1: Are they going to be made in the States? Then yes, Okay,

1398
01:25:08,079 --> 01:25:08,640
they'd have to be.

1399
01:25:11,520 --> 01:25:15,119
Speaker 2: Yeah, we can get simple ingredients from outside the US,

1400
01:25:15,199 --> 01:25:17,520
but other than that, we're not We're not allowed to

1401
01:25:17,520 --> 01:25:27,920
transmit any sort of anything that is a sophisticated element

1402
01:25:28,000 --> 01:25:29,640
of a rocket engine. Weren't allowed to transfer out the

1403
01:25:29,720 --> 01:25:34,079
US or rockety stuff is the weapons technology.

1404
01:25:34,319 --> 01:25:36,840
Speaker 1: So just a starship when it's assembled to fly there

1405
01:25:36,880 --> 01:25:37,399
and come back.

1406
01:25:42,680 --> 01:25:45,359
Speaker 2: Technically, there's a lot of rockets at the bottom of

1407
01:25:45,359 --> 01:25:47,199
the ocean shout.

1408
01:25:48,359 --> 01:25:48,720
Speaker 4: And they have.

1409
01:25:51,000 --> 01:25:53,840
Speaker 3: So if you're city to city rocket travel works, does

1410
01:25:53,880 --> 01:25:56,079
that mean Tesla doesn't need to build an electric airplane.

1411
01:25:59,439 --> 01:26:03,399
Speaker 2: Man building electric airplane has a lot of difficulty associated

1412
01:26:03,399 --> 01:26:03,600
with that.

1413
01:26:04,439 --> 01:26:07,560
Speaker 4: Or what about the V tall jet, It's a lot

1414
01:26:07,560 --> 01:26:08,840
of difficulty asia share with that.

1415
01:26:09,479 --> 01:26:14,479
Speaker 2: I gotta make sure, well, it takes a messi amount

1416
01:26:14,479 --> 01:26:16,239
of effort to do any one of these things, so

1417
01:26:16,319 --> 01:26:20,720
you can't do them all. It's not possible, say, oh,

1418
01:26:20,800 --> 01:26:22,800
how you I like it? The resources? What's the best

1419
01:26:22,840 --> 01:26:27,960
thing to do? Making a vtall jet can definitely be

1420
01:26:28,079 --> 01:26:34,439
done doing electric aircraft for sure. I mean all transport

1421
01:26:34,479 --> 01:26:40,079
will go electric, accept for rockets, yeah, everything.

1422
01:26:40,560 --> 01:26:42,600
Speaker 3: I guess why it seems exciting is because if Tesla's

1423
01:26:42,680 --> 01:26:45,439
leading and energy density and battery technology, then the logical

1424
01:26:45,520 --> 01:26:48,439
next step is like if somebody's build an electric airplane,

1425
01:26:48,439 --> 01:26:50,800
it's the company with the best lightest, most efficient batteries.

1426
01:26:50,880 --> 01:26:51,000
Speaker 4: Right.

1427
01:26:54,600 --> 01:26:59,279
Speaker 2: Yeah, It's just it's hard. It's an entirely different regulatory regime.

1428
01:27:00,640 --> 01:27:02,880
Like there's there are there aren't any car companies that

1429
01:27:02,920 --> 01:27:07,439
are also aircraft companies, So why don't they just make aircraft?

1430
01:27:08,479 --> 01:27:10,159
Speaker 5: Actually, you know, it's kind of funny. There was like

1431
01:27:10,239 --> 01:27:15,560
some conspiracy theories on Twitter because on Instagram, Tesla's category

1432
01:27:16,079 --> 01:27:19,319
it's aid, automotive, and then somehow aircraft has gone.

1433
01:27:21,239 --> 01:27:26,319
Speaker 3: Like at the cyber truck event, cyber truck, this is

1434
01:27:26,359 --> 01:27:27,159
like your Wikipedia.

1435
01:27:30,399 --> 01:27:33,239
Speaker 2: I think it's incredibly hard to bring an aircraft to

1436
01:27:33,399 --> 01:27:38,199
production and meet all of the regulatory requirements worldwide.

1437
01:27:38,920 --> 01:27:43,199
Speaker 4: It's a very difficult thing. So it's not like we're

1438
01:27:44,039 --> 01:27:45,079
something that could be just be done.

1439
01:27:46,079 --> 01:27:48,159
Speaker 2: We would have to not do a bunch of other things.

1440
01:27:49,960 --> 01:27:52,239
It's not like there's like a ton of unallocated resources.

1441
01:27:52,359 --> 01:27:55,600
Tells I'm like, oh, what should we do now? It's

1442
01:27:55,720 --> 01:28:02,039
like a constant resource starvation, so there's like why do

1443
01:28:02,039 --> 01:28:05,239
you do this other thing? Okay, but we're starving for resources?

1444
01:28:06,079 --> 01:28:07,920
Speaker 4: Then what do we you not do well?

1445
01:28:07,920 --> 01:28:09,680
Speaker 3: It seems like that's what's so exciting is now that

1446
01:28:09,760 --> 01:28:12,039
the business is kind of taken this next step. The

1447
01:28:12,279 --> 01:28:16,199
resource like starve is kind of changing, or hopefully slowly changing.

1448
01:28:17,000 --> 01:28:21,279
Speaker 5: I mean in the airplane like another car or something.

1449
01:28:21,399 --> 01:28:22,520
Speaker 10: It's not yeah, not.

1450
01:28:22,560 --> 01:28:24,800
Speaker 3: It'sarily an airplaneses, but just in general, it seems like

1451
01:28:25,319 --> 01:28:27,000
the financial help means you can spend more on R

1452
01:28:27,039 --> 01:28:28,399
and D, you can invest more, Like.

1453
01:28:28,479 --> 01:28:29,279
Speaker 4: That's not how it works.

1454
01:28:30,720 --> 01:28:33,439
Speaker 2: It's not like if you're just haending more money, you

1455
01:28:33,479 --> 01:28:36,079
could spend it effectively in R and D. But if

1456
01:28:36,119 --> 01:28:38,880
there was a if there was a factory producing excellent engineers,

1457
01:28:38,920 --> 01:28:41,600
that would be true. Where is this factory.

1458
01:28:43,319 --> 01:28:44,119
Speaker 4: It doesn't exist.

1459
01:28:46,039 --> 01:28:50,600
Speaker 2: So it's incredibly difficult to find the right talent to

1460
01:28:50,840 --> 01:28:53,840
integrate them into an organization and have it be work effectively.

1461
01:28:54,600 --> 01:29:00,199
It's not a money thing. It's just hard to find that.

1462
01:29:00,319 --> 01:29:02,560
This is a short number a small number.

1463
01:29:02,319 --> 01:29:04,880
Speaker 4: Of people, you know, more engineers.

1464
01:29:05,720 --> 01:29:10,600
Speaker 2: Especially, there's just a fundamental limitation on exceptional engineers.

1465
01:29:11,319 --> 01:29:12,119
Speaker 4: There's just not that many.

1466
01:29:12,920 --> 01:29:15,439
Speaker 5: So, given like these constraints and all the things you

1467
01:29:15,520 --> 01:29:16,720
have to do, could you tell us like a little

1468
01:29:16,720 --> 01:29:19,399
bit about your thinking on how you prioritize.

1469
01:29:23,359 --> 01:29:27,680
Speaker 2: And the prioritize. Prioritizing has usually been out of desperation,

1470
01:29:28,119 --> 01:29:31,640
not choice. It's not like, oh, let's sit back and

1471
01:29:32,479 --> 01:29:36,479
how should we spend these resources. Thing isn't going to work,

1472
01:29:36,479 --> 01:29:38,159
and we're gonna if we don't make it work, we're

1473
01:29:38,199 --> 01:29:43,359
going to go bacraft, you know, and then so we're

1474
01:29:43,359 --> 01:29:44,079
better make it work.

1475
01:29:46,560 --> 01:29:50,520
Speaker 4: I mean the Mall free program.

1476
01:29:51,720 --> 01:29:55,159
Speaker 2: There were so many mistakes that were made with mal

1477
01:29:55,199 --> 01:29:58,800
three program that the entire company had to be devoted

1478
01:29:58,880 --> 01:30:04,439
to fixing the model reproduction system. So you know, we

1479
01:30:05,279 --> 01:30:11,000
took everyone off solar, almost everyone off battery pack, power

1480
01:30:11,319 --> 01:30:14,520
power pack and that kind of thing. Anyone who is

1481
01:30:14,600 --> 01:30:20,840
working on you know, roadsters, am I everyone stopped doing

1482
01:30:20,920 --> 01:30:23,239
that working Model three or there won't be any Tesla.

1483
01:30:23,920 --> 01:30:26,279
Speaker 5: Yeah, it's kind of amazing. You really bet the whole

1484
01:30:26,359 --> 01:30:28,800
company to get to this next level. But you know,

1485
01:30:29,560 --> 01:30:31,560
I mean I have a Model three. I couldn't afford

1486
01:30:31,600 --> 01:30:33,840
a Model less. So like, I'm very thankful that you

1487
01:30:33,920 --> 01:30:35,840
guys decided to at the whole company.

1488
01:30:36,520 --> 01:30:39,920
Speaker 2: There's no choice. It's like either you got to you

1489
01:30:40,039 --> 01:30:42,439
got to get to volume. So there's checking an next situation.

1490
01:30:42,960 --> 01:30:46,079
You can't make the car at an affordable price unless

1491
01:30:46,159 --> 01:30:48,359
you have high volume. Unless you have high volume, you

1492
01:30:48,399 --> 01:30:49,560
can't get an affordable price.

1493
01:30:50,039 --> 01:30:52,399
Speaker 4: So now what do you do? How do you bootstrap

1494
01:30:52,479 --> 01:30:52,760
this thing?

1495
01:30:53,680 --> 01:30:56,199
Speaker 2: You've basically just got to take a giant flying leap

1496
01:30:56,319 --> 01:30:59,239
at high volume and hope you get to the you

1497
01:30:59,319 --> 01:31:02,159
know ground, have a cliff at ledge with your fingertips.

1498
01:31:03,600 --> 01:31:05,880
It's like Indiana Jones were like running down the thing.

1499
01:31:05,960 --> 01:31:08,479
And here's what it actually feels like. It's like that

1500
01:31:09,560 --> 01:31:12,720
temple are doing whatever where it's like there's a damn

1501
01:31:12,800 --> 01:31:17,159
boulder chasing you down, okay, and it's a big hole

1502
01:31:17,199 --> 01:31:17,720
in the ground.

1503
01:31:18,520 --> 01:31:20,600
Speaker 4: Can make that game and you need to jump across

1504
01:31:20,720 --> 01:31:22,880
the hole in the ground and if you slow down,

1505
01:31:22,920 --> 01:31:26,720
the boulder is going to crush you. This is what

1506
01:31:26,840 --> 01:31:28,960
it feels like. It's they're like, I.

1507
01:31:29,000 --> 01:31:33,680
Speaker 2: Wonder what you we shall do, like boulder hol on

1508
01:31:33,720 --> 01:31:35,960
the ground and then jump across or you're gonna die.

1509
01:31:36,800 --> 01:31:45,840
So that's basically or you know, get the situation. You know,

1510
01:31:46,000 --> 01:31:48,439
like at this point, maybe we could say like, okay,

1511
01:31:48,560 --> 01:31:53,880
what shall we do at this point? You know, the

1512
01:31:54,199 --> 01:31:57,560
biggest problem we have to solve right now is just

1513
01:31:57,840 --> 01:32:02,520
having production on each onto it because it's insane to

1514
01:32:02,560 --> 01:32:05,840
be making cars in California shipping them to Europe and Asia.

1515
01:32:06,119 --> 01:32:08,880
This is I mean, as it is, making cars in

1516
01:32:08,880 --> 01:32:15,079
the area is pretty absurd. And then you also got

1517
01:32:15,119 --> 01:32:18,960
to ship those cars half around the world, and so

1518
01:32:19,000 --> 01:32:21,399
you got all this finished goes inventory on the water

1519
01:32:21,680 --> 01:32:25,079
that's very high capital carrying costs, and you can finance

1520
01:32:25,159 --> 01:32:26,119
part of it, but not all of it.

1521
01:32:27,279 --> 01:32:31,520
Speaker 4: So you know, then you've got the.

1522
01:32:31,520 --> 01:32:36,960
Speaker 2: Transport costs, you've got tariffs, you've got you know, every

1523
01:32:37,000 --> 01:32:39,880
time a car gets loaded and unloaded, there's some potential

1524
01:32:39,920 --> 01:32:40,439
for damage.

1525
01:32:40,439 --> 01:32:42,079
Speaker 4: It's not zero, you know, So.

1526
01:32:43,680 --> 01:32:46,520
Speaker 2: It just creates a lot of cost and then it's

1527
01:32:46,520 --> 01:32:50,399
hard to manage. And the factory complexity in California is

1528
01:32:51,039 --> 01:32:54,920
is amplified because you've got several different regulatory regimes. So

1529
01:32:54,960 --> 01:32:57,359
you're building it seems like you're building Model three, which

1530
01:32:57,359 --> 01:32:59,680
you're actually building several versions of a Model three, depending

1531
01:32:59,720 --> 01:33:00,680
upon whether it's going.

1532
01:33:00,600 --> 01:33:03,960
Speaker 4: To China, Japan, Australia, Europe.

1533
01:33:04,520 --> 01:33:09,079
Speaker 2: Then you got got down right hand drive. Okay, it's

1534
01:33:09,119 --> 01:33:16,880
like every now everything's gonna go. There's some random bureaucratic

1535
01:33:16,920 --> 01:33:22,239
decision one hundred years ago. Right hand driver, left hand drive.

1536
01:33:22,840 --> 01:33:24,239
This is a megapain in the ass.

1537
01:33:26,319 --> 01:33:26,720
Speaker 10: In the middle.

1538
01:33:28,199 --> 01:33:31,960
Speaker 4: Yeah. Absolutely. And then all these different languages.

1539
01:33:32,199 --> 01:33:35,079
Speaker 2: You know, you can't have like warning labels in English,

1540
01:33:35,159 --> 01:33:38,399
and if they don't speak English, it's like prove I

1541
01:33:38,439 --> 01:33:39,199
don't know what it means.

1542
01:33:40,880 --> 01:33:43,920
Speaker 4: So this stickers all over the place for you know,

1543
01:33:45,039 --> 01:33:49,000
or whatever it is. And that's all in one factory.

1544
01:33:49,119 --> 01:33:53,840
Speaker 2: So so so the complexity amplifies the difficulty of manufacturing.

1545
01:33:54,640 --> 01:33:55,119
Speaker 4: And then.

1546
01:33:56,520 --> 01:33:58,199
Speaker 2: You kind of get into the cycle where in the

1547
01:33:58,239 --> 01:34:01,199
first month in the core or well, I say, first

1548
01:34:01,239 --> 01:34:03,720
six weeks in the quarter you build cars for Europe

1549
01:34:03,760 --> 01:34:06,760
and Asia and you get them on the boats, and

1550
01:34:06,920 --> 01:34:10,199
then for the next say three weeks, you voilt cars

1551
01:34:10,279 --> 01:34:12,760
for the east coast of the US or North America,

1552
01:34:13,319 --> 01:34:15,039
and then the final three weeks you built the coast

1553
01:34:15,239 --> 01:34:15,680
cars for.

1554
01:34:16,079 --> 01:34:16,720
Speaker 4: The west coast.

1555
01:34:17,479 --> 01:34:21,840
Speaker 2: So the deliveries early in the quarter look look very

1556
01:34:22,239 --> 01:34:25,039
very low, and they spank exponentially at the end because

1557
01:34:25,079 --> 01:34:27,840
basically all the cars arrive at the customers.

1558
01:34:27,399 --> 01:34:28,159
Speaker 4: At the end of the quarter.

1559
01:34:31,399 --> 01:34:33,880
Speaker 2: And then we're like, then we'll have these conversations we've

1560
01:34:33,920 --> 01:34:36,640
got to get out of this wave like and they're like, well,

1561
01:34:36,800 --> 01:34:39,119
they'll punish us very badly if we get out of

1562
01:34:39,119 --> 01:34:41,000
the way because the financials.

1563
01:34:40,600 --> 01:34:44,359
Speaker 4: Will look horrible. Yeah, So then we're okay, we'll do

1564
01:34:44,439 --> 01:34:45,000
the wave again.

1565
01:34:49,640 --> 01:34:51,520
Speaker 2: And so that so that now we've got a factory

1566
01:34:51,520 --> 01:34:54,680
in Shanghai that should that that'll go a long way

1567
01:34:54,680 --> 01:34:59,800
towards alleviating the complexity and the cost. You know, we'll

1568
01:34:59,800 --> 01:35:02,720
have far a few goods that we need to finance

1569
01:35:02,920 --> 01:35:06,680
that are on boats. Wants to get the factory going

1570
01:35:06,920 --> 01:35:15,920
in Berlin. Branderberg technically close Ble in then then then

1571
01:35:16,279 --> 01:35:19,640
that this massively reduces the complexity of production and uh

1572
01:35:20,319 --> 01:35:23,760
and and reduces the fundamental cost of the vehicle. So

1573
01:35:24,640 --> 01:35:28,039
this will really de stress the company a lot.

1574
01:35:29,199 --> 01:35:30,720
Speaker 4: So local production will break the wave.

1575
01:35:31,560 --> 01:35:35,880
Speaker 2: Local production will break the wave. I mean, just like

1576
01:35:36,000 --> 01:35:38,239
we've had number of times the headlights have come up

1577
01:35:38,239 --> 01:35:38,800
as an issue.

1578
01:35:39,319 --> 01:35:40,399
Speaker 4: Is crazy.

1579
01:35:40,880 --> 01:35:43,760
Speaker 2: We've had to ship cars to Europe many times where

1580
01:35:44,199 --> 01:35:49,000
the the supplier of the headlights for the EU headlights

1581
01:35:49,520 --> 01:35:53,359
can match rate uh and and or made them wrong

1582
01:35:53,439 --> 01:35:55,479
or something. And then so we may have to make

1583
01:35:55,560 --> 01:35:58,920
cars with US headlights, ship them to Europe, then ship

1584
01:35:58,960 --> 01:36:01,399
a bunch of EU headlights to Europe, change them in

1585
01:36:01,439 --> 01:36:02,920
the port because they're not all id to exit the

1586
01:36:02,960 --> 01:36:04,760
port until they have the EU headlights.

1587
01:36:04,840 --> 01:36:05,479
Speaker 4: Oh my god.

1588
01:36:05,720 --> 01:36:07,239
Speaker 1: So that was the port problems we would see.

1589
01:36:07,279 --> 01:36:12,720
Speaker 2: That's one of the many poor problems. Like like first

1590
01:36:12,800 --> 01:36:18,000
year quarter last year was a tragedy of errors, not

1591
01:36:18,079 --> 01:36:24,319
a comedy, but a tragedy. Belgium went on strike, right

1592
01:36:24,840 --> 01:36:30,079
and like, what do you mean Belgium's on strike? Yeah,

1593
01:36:36,680 --> 01:36:40,119
a lot of cars were coming into Subruge and like okay,

1594
01:36:41,159 --> 01:36:41,760
now what do we do?

1595
01:36:42,520 --> 01:36:42,800
Speaker 4: Nothing?

1596
01:36:43,359 --> 01:36:49,119
Speaker 2: Just cars are stuck because okay, but then they're scheduled

1597
01:36:49,119 --> 01:36:50,920
to go off strike in this other day and like okay,

1598
01:36:51,159 --> 01:36:54,880
so then we can move things great, And.

1599
01:36:55,000 --> 01:36:58,560
Speaker 4: It was just so many, so many things. Cars got

1600
01:36:58,600 --> 01:37:00,600
stuck in the port of Shanghai because they had wrong sticker.

1601
01:37:01,359 --> 01:37:10,159
Speaker 10: Oh my god. Yeah, I know, I know. It's been

1602
01:37:10,279 --> 01:37:11,960
off like just many in China.

1603
01:37:12,319 --> 01:37:14,560
Speaker 4: Absolutely like totally agree.

1604
01:37:14,640 --> 01:37:17,039
Speaker 11: You don't have to spend like two weeks, three weeks

1605
01:37:18,079 --> 01:37:19,640
on the ocean, go there and.

1606
01:37:19,880 --> 01:37:22,039
Speaker 10: Roll sticker and you have to wait so replace.

1607
01:37:22,119 --> 01:37:25,079
Speaker 5: People don't appreciate Giggashanghai yet completely.

1608
01:37:25,119 --> 01:37:27,880
Speaker 10: Until recently, definitely not yet.

1609
01:37:27,920 --> 01:37:29,279
Speaker 5: I think people have realized it.

1610
01:37:29,960 --> 01:37:31,000
Speaker 4: It's extremely important.

1611
01:37:31,399 --> 01:37:35,680
Speaker 2: Yeah, yeah, and these like shipping times or that, like

1612
01:37:36,000 --> 01:37:38,800
like like technically as possible, if everything goes right, you

1613
01:37:38,880 --> 01:37:41,359
can get the cars are in two weeks, but the

1614
01:37:41,399 --> 01:37:44,079
ships don't don't leave every single day, and then you

1615
01:37:44,159 --> 01:37:47,479
also have to cure you can't just instantly load the cars.

1616
01:37:49,600 --> 01:37:52,479
So the cars you have like send like two thousand

1617
01:37:52,560 --> 01:37:55,359
cars to a lot and like you know, port Oakland

1618
01:37:55,399 --> 01:37:59,520
to Port of San Francisco, accumulate, the cars move, then

1619
01:37:59,520 --> 01:38:02,800
they get to another place. Then they get loaded onto

1620
01:38:02,840 --> 01:38:05,560
the ship one at a time, and then finally the

1621
01:38:05,600 --> 01:38:08,640
ship leaves, and then like sometimes the ship has problems

1622
01:38:09,760 --> 01:38:14,239
and like the storms or somethingstom like it's how to

1623
01:38:14,319 --> 01:38:19,720
go through everything? There's so much drama then yeah, and

1624
01:38:19,760 --> 01:38:24,239
then like the ship's engine brought down. It's like stuck somewhere.

1625
01:38:27,079 --> 01:38:30,199
Speaker 11: Yeah, but it's great, Like right now, like everything roll

1626
01:38:30,279 --> 01:38:34,159
off the production line, go directly to the Yeah, sands great,

1627
01:38:34,560 --> 01:38:37,760
it's wonderful. So I have another question. It's like, from

1628
01:38:37,800 --> 01:38:42,239
your perspective, how to Chinese public perceive EV.

1629
01:38:43,640 --> 01:38:45,880
Speaker 2: Well, China is very pro EV and it's biggest EV

1630
01:38:46,000 --> 01:38:50,359
marking in the world. I think it's like half of

1631
01:38:50,399 --> 01:38:53,800
old EV's or made and bought in China something like that,

1632
01:38:54,079 --> 01:38:54,359
right now.

1633
01:38:54,479 --> 01:38:59,880
Speaker 4: Yeah, yeah, So the China sort of.

1634
01:39:01,880 --> 01:39:05,640
Speaker 2: Subsides for evs dropped conservatively, so that did cause a

1635
01:39:05,760 --> 01:39:12,000
reductional lot. But the EV incentives were very high in

1636
01:39:12,119 --> 01:39:16,000
China and now they're much less. They're like a third

1637
01:39:16,039 --> 01:39:19,239
of what they used to be or less, so the

1638
01:39:19,600 --> 01:39:22,760
so that's caused some decline in demand as one would expect,

1639
01:39:23,560 --> 01:39:26,600
but it's still China is still the biggest market for

1640
01:39:26,760 --> 01:39:30,039
EV's in the world, so I think they're very positively received.

1641
01:39:30,600 --> 01:39:31,079
Speaker 4: That's great.

1642
01:39:31,239 --> 01:39:35,319
Speaker 12: Yea so talking about the incentives, because you I know,

1643
01:39:35,520 --> 01:39:38,359
the price, there was a small price reduction right in

1644
01:39:38,439 --> 01:39:42,199
the Chinese Model three and then but then the subsidies

1645
01:39:42,279 --> 01:39:46,239
were the balance. So it's actually not it's not any

1646
01:39:46,319 --> 01:39:49,039
impact on Tassla in no profit, right.

1647
01:39:50,840 --> 01:39:55,920
Speaker 4: No, I don't think so. Well, yeah, I think the.

1648
01:39:58,199 --> 01:40:01,720
Speaker 2: Obviously, depending on what percentage of the car is made

1649
01:40:01,760 --> 01:40:03,560
in China, that the parts that are made in China

1650
01:40:03,600 --> 01:40:06,199
are not subject to a tariff, so that's certainly helpful.

1651
01:40:06,960 --> 01:40:12,239
We also save on logistics, and generally we found that

1652
01:40:12,960 --> 01:40:15,479
locally sourced parts in China costs less than in the

1653
01:40:16,079 --> 01:40:18,960
you know, in the US or Europe, so this is

1654
01:40:19,000 --> 01:40:24,359
all pretty helpful. Also, the Tesla got added to the

1655
01:40:24,479 --> 01:40:28,479
purchase tax exemption, which will all the other This is

1656
01:40:29,000 --> 01:40:31,039
I'm not sure if you like realized just how much

1657
01:40:31,079 --> 01:40:34,560
of an outfield battle Tesla has had to sell cars

1658
01:40:34,560 --> 01:40:39,760
in China. It's been a you know, really basically no

1659
01:40:39,920 --> 01:40:43,760
access to any subsidies, and we paid a tariff and

1660
01:40:43,920 --> 01:40:47,279
we had to ship the cars over and every single

1661
01:40:47,359 --> 01:40:52,079
thing was set against Tesla, and still we made progress

1662
01:40:52,520 --> 01:40:56,800
decently well, So I think there will be much better,

1663
01:40:57,199 --> 01:41:01,159
a much better situation with local production, not having to

1664
01:41:01,199 --> 01:41:05,880
do shipping and tariffs, and being able to have lower

1665
01:41:05,960 --> 01:41:10,520
cost local sourcing of components. So make a big difference,

1666
01:41:10,520 --> 01:41:10,760
I think.

1667
01:41:11,279 --> 01:41:13,199
Speaker 1: Is that your victory dance when you broke in.

1668
01:41:14,800 --> 01:41:18,319
Speaker 4: Yeah, that's great, that's a big deal. Huge.

1669
01:41:20,159 --> 01:41:24,800
Speaker 2: Yeah, just uh, just fundamental economics. It kind of makes

1670
01:41:24,840 --> 01:41:28,520
sense that making cars on the continent where there are

1671
01:41:28,720 --> 01:41:32,159
bought will be a lot more efficient than making them

1672
01:41:32,199 --> 01:41:33,760
in California and shipping them around the world.

1673
01:41:34,880 --> 01:41:37,720
Speaker 3: Yeah, and you can get paid for the cars before

1674
01:41:37,800 --> 01:41:40,119
paying your suppliers, which seems to not be the case

1675
01:41:40,119 --> 01:41:41,840
if you're shipping around the world, and that could be

1676
01:41:41,880 --> 01:41:43,840
a huge like friction on the whole kind of cash

1677
01:41:43,880 --> 01:41:45,239
flow situation, or it.

1678
01:41:45,319 --> 01:41:47,800
Speaker 2: Has been for sure, it will sure make a big

1679
01:41:47,840 --> 01:41:52,520
difference on cash flow because yeah, it's there's just no

1680
01:41:52,680 --> 01:41:55,600
way to get the cars, especially in Europe, but but

1681
01:41:55,760 --> 01:42:01,600
even China to get them to customers, you know, before

1682
01:42:01,680 --> 01:42:04,680
we have to pay spliers. So if you're a rapidly

1683
01:42:04,720 --> 01:42:09,520
growing company, it's it's night and day if if you

1684
01:42:10,520 --> 01:42:12,319
get paid by your customers before you have to pay

1685
01:42:12,319 --> 01:42:15,079
your suppliers, like night and day, because then the faster

1686
01:42:15,159 --> 01:42:18,279
you grow, the video cash cash position is but if

1687
01:42:18,319 --> 01:42:20,680
it's the other way around, where you have to pay

1688
01:42:20,720 --> 01:42:23,640
your suppliers before you get paid for customers get paid

1689
01:42:23,640 --> 01:42:26,479
by customers, then the faster you grow, the.

1690
01:42:28,199 --> 01:42:29,720
Speaker 4: Faster your cash position drops.

1691
01:42:30,479 --> 01:42:32,439
Speaker 10: Because you're going to spend more money to make it.

1692
01:42:33,359 --> 01:42:35,399
Speaker 2: Growth actually causes you to orger into the ground in

1693
01:42:35,479 --> 01:42:38,479
a situation like that. Now it tells us we had

1694
01:42:38,520 --> 01:42:40,760
a mixture of both things where we had a lot

1695
01:42:40,840 --> 01:42:45,840
of customers in say in California, and that's that's fast.

1696
01:42:45,960 --> 01:42:48,199
For sure, we would get paid by customers faster than

1697
01:42:48,239 --> 01:42:50,800
we would have to pay suppliers. But then for cars

1698
01:42:51,079 --> 01:42:55,000
going to Europe and Asia, it's the other way around,

1699
01:42:55,600 --> 01:42:58,000
you know, So we would have to pay suppliers before

1700
01:42:58,039 --> 01:43:03,199
we got paid by by customers. And now we could

1701
01:43:03,479 --> 01:43:05,680
we could off sat some of that with the asset

1702
01:43:05,760 --> 01:43:09,000
back line, which was pretty helpful, but only some of it,

1703
01:43:09,119 --> 01:43:09,560
not all of it.

1704
01:43:10,359 --> 01:43:10,680
Speaker 4: So the.

1705
01:43:12,319 --> 01:43:16,039
Speaker 2: Just the fundamental financial health for sure improves dramatically by

1706
01:43:16,760 --> 01:43:20,000
just having just been having a factory on the continent. Okay,

1707
01:43:20,039 --> 01:43:24,560
we're not talking next door, but it's just how many oceans,

1708
01:43:24,720 --> 01:43:29,000
you know. It's like, especially Europe was logistically super hard

1709
01:43:29,079 --> 01:43:30,920
because we're on the west coast. If we're on the

1710
01:43:30,960 --> 01:43:33,479
east coast, then then China would be much harder. But

1711
01:43:33,600 --> 01:43:36,439
if if you're on the west coast, you're much harder

1712
01:43:36,439 --> 01:43:38,199
because you've got to go through the Panama Canal or

1713
01:43:38,720 --> 01:43:44,479
even worse around you know, Tierra del Fuego, because sometimes

1714
01:43:44,520 --> 01:43:47,159
the Panama Canal get backed up like the spring, and

1715
01:43:47,239 --> 01:43:51,319
ship is going to the Antarctic. It's like you can

1716
01:43:51,359 --> 01:43:54,520
skip up to the end and the stormy as hell.

1717
01:43:55,319 --> 01:44:00,399
It's so you send a ship around Chile, you shiitting,

1718
01:44:01,199 --> 01:44:04,720
you know, in the middle crazy storms, and then back

1719
01:44:04,840 --> 01:44:07,800
up all the way and then like you know, it

1720
01:44:08,319 --> 01:44:18,840
is so funny, oh my god, so logistic nightmare. So yeah,

1721
01:44:18,840 --> 01:44:21,439
it'd be great to just have have it, not get

1722
01:44:21,520 --> 01:44:26,800
on a boat and crust the Pacific and Atlantic and

1723
01:44:27,039 --> 01:44:27,560
that kind of thing.

1724
01:44:28,399 --> 01:44:32,079
Speaker 6: So maybe similar to Vincent's question, what's the biggest advantage

1725
01:44:32,079 --> 01:44:36,319
in choosing Berlin other European countries, Berlin.

1726
01:44:36,039 --> 01:44:43,239
Speaker 4: Has the best nightclubs. I went to Bogm once.

1727
01:44:49,039 --> 01:44:49,359
Speaker 10: Years ago.

1728
01:44:54,399 --> 01:44:58,560
Speaker 4: Well, I don't know. I mean he looked a lot

1729
01:44:58,600 --> 01:45:00,840
of different different locations and.

1730
01:45:02,640 --> 01:45:07,840
Speaker 2: I sort of, I don't know. We're could have put

1731
01:45:07,840 --> 01:45:11,039
it in a lot of locations. We needed to move

1732
01:45:11,319 --> 01:45:18,760
move quickly. And actually this this place, you know, it's

1733
01:45:18,800 --> 01:45:22,159
like wherever thirty minutes to the outskirts of Berlin, technically

1734
01:45:22,199 --> 01:45:25,439
in brand Rondeberg. It actually was a place location that

1735
01:45:26,319 --> 01:45:29,760
BMW was going to put a plants there, so a

1736
01:45:29,880 --> 01:45:33,880
ton of the environmental work and all of the permits

1737
01:45:33,920 --> 01:45:36,399
and stuff had already been done and then for some

1738
01:45:36,520 --> 01:45:38,960
reason BMW chose a different location.

1739
01:45:40,800 --> 01:45:43,720
Speaker 4: But there's like I guess something on the order of

1740
01:45:43,760 --> 01:45:44,439
a year's.

1741
01:45:44,239 --> 01:45:48,600
Speaker 2: Work worth of environmental you know, paperwork and stuff that's

1742
01:45:48,600 --> 01:45:52,119
been done on that location for an auto plant. So

1743
01:45:52,239 --> 01:45:55,760
that's it made it one of the quickest places to

1744
01:45:56,199 --> 01:46:02,359
get going, and the like the government local and state

1745
01:46:02,439 --> 01:46:03,640
government was very supportive.

1746
01:46:05,680 --> 01:46:08,760
Speaker 4: So you know, I went there and it's like, okay,

1747
01:46:08,800 --> 01:46:11,119
this seems like some pretty good vibe this place.

1748
01:46:11,600 --> 01:46:15,079
Speaker 2: So there's a lovely part of this lovely place, and

1749
01:46:15,560 --> 01:46:19,399
there's an opportunity for like it's it's close enough to Villain,

1750
01:46:19,479 --> 01:46:22,720
that's a young people could still you know, live in

1751
01:46:22,720 --> 01:46:26,600
an apartment in Berlain and commute to the factory. It's right,

1752
01:46:26,680 --> 01:46:28,800
there's a train state station. The actually gonna move the

1753
01:46:28,880 --> 01:46:31,079
train station. It's a small train station, but they're gonna

1754
01:46:31,119 --> 01:46:32,920
move the train station to where you can literally get

1755
01:46:32,920 --> 01:46:33,960
off the train and be.

1756
01:46:34,079 --> 01:46:35,359
Speaker 4: Right at the Gaga Vilain.

1757
01:46:35,840 --> 01:46:38,359
Speaker 10: Wow, that's great, that's great, that's perfect.

1758
01:46:38,520 --> 01:46:40,640
Speaker 2: You could literally just pop right off and you don't

1759
01:46:40,840 --> 01:46:44,399
if you walk, you don't need a bicycle. So then

1760
01:46:44,439 --> 01:46:47,520
it's like, okay, this is pretty cool. And ya, so

1761
01:46:47,720 --> 01:46:50,800
so young people could be in a Berlain department and

1762
01:46:50,800 --> 01:46:54,319
it's you know, work at Gay Villain. But if you

1763
01:46:54,399 --> 01:46:57,359
want to have more a family situation, but by backyard,

1764
01:46:57,399 --> 01:47:01,640
there's you know, affordable housing available with you know houses

1765
01:47:01,680 --> 01:47:07,600
with yards and stuff that aren't too expensive. Yeah, so

1766
01:47:08,039 --> 01:47:15,239
it seems like a good, good combination of factors. Yeah,

1767
01:47:15,560 --> 01:47:21,920
a lot of talent in the area. So it sounds

1768
01:47:22,000 --> 01:47:27,239
cool to giggle in. It just sounds it just sounds

1769
01:47:27,279 --> 01:47:29,560
like some some cool nightclub.

1770
01:47:29,600 --> 01:47:30,119
Speaker 4: I think.

1771
01:47:32,239 --> 01:47:34,159
Speaker 2: You can definitely have a cool nightclub that was cooled

1772
01:47:34,159 --> 01:47:39,279
back people like, yeah, that sounds good. Shanghai too, it

1773
01:47:39,319 --> 01:47:44,520
sounds pretty cool. Yeah, should have like a rave cave.

1774
01:47:44,399 --> 01:47:44,640
Speaker 3: And the.

1775
01:47:47,720 --> 01:47:51,039
Speaker 6: The factory, but you should have like your own nightclub.

1776
01:47:52,680 --> 01:47:55,039
Speaker 2: I think that would be who who doesn't know, doesn't

1777
01:47:55,399 --> 01:47:58,199
we should do that. I feel like i'd go for

1778
01:47:58,359 --> 01:48:00,880
sure work at a company with guys Hut the nightclub.

1779
01:48:01,880 --> 01:48:03,000
That sounds way more fun.

1780
01:48:04,800 --> 01:48:06,600
Speaker 6: Didn't you want to put a roller coaster into the

1781
01:48:06,720 --> 01:48:07,479
Freemont factory.

1782
01:48:07,600 --> 01:48:09,520
Speaker 2: Yeah, you're still going to do that. I mean I

1783
01:48:09,560 --> 01:48:13,479
think that would be pretty fun to do. Yeah, I

1784
01:48:13,720 --> 01:48:16,760
think we can just like do yeah, just basically have

1785
01:48:16,960 --> 01:48:21,000
like we just needed a rail that can support like

1786
01:48:21,119 --> 01:48:22,880
a modified modified Teslas and.

1787
01:48:23,159 --> 01:48:27,279
Speaker 12: Then yeah, can you imagine a plaid Yeah, just like

1788
01:48:27,359 --> 01:48:31,199
sip around and around the factory in like five seconds.

1789
01:48:32,000 --> 01:48:35,159
Speaker 10: It would be booked for months. Yeah, we should get

1790
01:48:35,199 --> 01:48:38,159
in right now. Awesome.

1791
01:48:38,720 --> 01:48:40,920
Speaker 4: Yeah, we're kind of actually versed parts of the factory.

1792
01:48:41,000 --> 01:48:43,760
Speaker 2: We have vehicle conveand systems. They just don't move that fast,

1793
01:48:43,920 --> 01:48:46,000
but they're kind of like roller coasters.

1794
01:48:45,760 --> 01:48:48,479
Speaker 4: That move so big exactly.

1795
01:48:51,239 --> 01:48:56,840
Speaker 2: So yeah, but yeah, we're freeling pretty you know temp

1796
01:48:56,880 --> 01:48:59,760
fade or anything, but feeling pretty good about where things

1797
01:48:59,800 --> 01:49:07,800
are added. And I think this is like a lot

1798
01:49:07,840 --> 01:49:09,640
of good things. You know, the model Wine coming out

1799
01:49:09,680 --> 01:49:15,000
this year, and some exciting announcements about batteries, a lot

1800
01:49:15,039 --> 01:49:23,920
of progress and autopilot. Yeah, so bullying Giga ballin and

1801
01:49:24,520 --> 01:49:26,079
and then make your progress on some of the new

1802
01:49:27,239 --> 01:49:30,239
vehicle developments. I went and solo, the solar roof, solar

1803
01:49:30,279 --> 01:49:32,880
glass roof. Getting that rolled out.

1804
01:49:34,199 --> 01:49:35,920
Speaker 5: The cyber truck got received really well.

1805
01:49:35,960 --> 01:49:39,399
Speaker 10: I think, yeah, did you expect that many orders?

1806
01:49:41,479 --> 01:49:42,840
Speaker 4: Not? No, not really.

1807
01:49:46,840 --> 01:49:49,359
Speaker 8: When I first saw the cyber truck and in the

1808
01:49:49,479 --> 01:49:52,680
France's design studio, I mean, you know, you know, and

1809
01:49:52,760 --> 01:49:55,000
had told me that this was a this was a

1810
01:49:55,119 --> 01:49:58,399
daring design. Although I think you're the most excited about

1811
01:49:58,439 --> 01:49:59,479
this design than any dia.

1812
01:50:00,000 --> 01:50:01,159
Speaker 4: I think it's the best product ever.

1813
01:50:01,439 --> 01:50:02,479
Speaker 10: Yeah, and I saw it.

1814
01:50:02,720 --> 01:50:05,279
Speaker 8: I was just taken aback, and not not by the

1815
01:50:05,359 --> 01:50:08,159
design so much by the pure aggression that the truck.

1816
01:50:08,640 --> 01:50:10,520
You stand in front of it and you're like, okay,

1817
01:50:10,560 --> 01:50:14,520
I'm afraid you know, it really is like a badass truck.

1818
01:50:14,880 --> 01:50:15,079
Speaker 4: Yeah.

1819
01:50:16,439 --> 01:50:19,159
Speaker 2: Well, it seems like like the other reasons why people

1820
01:50:19,239 --> 01:50:21,800
buy a pickup trucks, you know in the US, is

1821
01:50:21,880 --> 01:50:24,920
like because it's like the most bad ass truck, you know,

1822
01:50:25,159 --> 01:50:29,199
like like which one is the toughest truck, And it's like,

1823
01:50:29,399 --> 01:50:31,039
what's tough with a truck tank?

1824
01:50:33,640 --> 01:50:37,920
Speaker 4: Like a tank from the future. So it's like.

1825
01:50:43,079 --> 01:50:51,359
Speaker 10: And really fine, cyber truck just in case the first

1826
01:50:51,479 --> 01:50:52,560
four are busy.

1827
01:50:57,880 --> 01:51:03,560
Speaker 2: Yeah, absolutely, Yeah, It's literally like how you out top

1828
01:51:03,560 --> 01:51:06,479
of a truck, US make a futuristic adored personnel carrier,

1829
01:51:06,600 --> 01:51:08,119
and that's the tougher than a truck.

1830
01:51:08,960 --> 01:51:11,039
Speaker 5: And I feel like a Tommy will probably be very

1831
01:51:11,239 --> 01:51:13,600
like mature by the time it ships too, for sure.

1832
01:51:14,159 --> 01:51:16,079
Speaker 10: So how many cyber truck orders do we have right here?

1833
01:51:16,680 --> 01:51:25,199
Speaker 4: I got one. I ordered three. I mean it's gonna

1834
01:51:25,199 --> 01:51:27,520
be pretty special and I look like other things, so

1835
01:51:28,039 --> 01:51:30,399
you know, yeah, it looks so cool.

1836
01:51:30,520 --> 01:51:32,319
Speaker 11: Like the first time I show it to my son

1837
01:51:32,520 --> 01:51:35,600
is like, Daddy, this is something from Alien.

1838
01:51:37,119 --> 01:51:40,479
Speaker 10: This is the first impression. Yes it is.

1839
01:51:41,359 --> 01:51:42,760
Speaker 4: That's that's how I just designed it.

1840
01:51:42,880 --> 01:51:42,920
Speaker 11: Was.

1841
01:51:43,000 --> 01:51:46,520
Speaker 2: It's like, what's the you know, let's let's make a

1842
01:51:46,680 --> 01:51:51,720
future futuristic award personal carrier, you know. And so the

1843
01:51:51,800 --> 01:51:54,800
inspiration board was like literally like you know, Blade Runner,

1844
01:51:55,800 --> 01:51:59,880
you know, like sort of Mad Max back to the Future,

1845
01:52:01,560 --> 01:52:06,840
you know, Aliens, you know, they're like, yeah, so.

1846
01:52:08,680 --> 01:52:12,279
Speaker 10: That's why it looks like that, Like the pre older

1847
01:52:12,399 --> 01:52:14,840
number is amazing. It's gonna be over like four hundred

1848
01:52:14,880 --> 01:52:15,560
thousand now right.

1849
01:52:15,560 --> 01:52:18,319
Speaker 5: I think it was just so risky, and it just

1850
01:52:19,239 --> 01:52:21,359
like at first people were like even people who like

1851
01:52:21,439 --> 01:52:25,640
were hardcore fans will rolled out and then people are

1852
01:52:25,720 --> 01:52:29,920
like wait a minute, like, yeah, it's kind of amazing.

1853
01:52:30,119 --> 01:52:31,760
Speaker 12: I want you could see it like there was like

1854
01:52:32,359 --> 01:52:34,760
in person, you could see it happening really fast, like

1855
01:52:35,680 --> 01:52:38,119
the reaction and then they're processing and then you're seeing

1856
01:52:38,119 --> 01:52:39,920
all the features and then the range and the price.

1857
01:52:40,039 --> 01:52:43,680
Speaker 10: Those are the compelling things that really like just hit everybody.

1858
01:52:43,960 --> 01:52:46,399
Speaker 5: Forty thousand was the biggest genres, like, oh, people are

1859
01:52:46,439 --> 01:52:47,239
gonna be buying.

1860
01:52:47,079 --> 01:52:49,960
Speaker 4: And that range too, like it's just actually.

1861
01:52:49,880 --> 01:52:53,960
Speaker 11: Sixty nine five hundred miles with two point nine second

1862
01:52:54,079 --> 01:52:54,720
like come.

1863
01:52:54,640 --> 01:52:55,920
Speaker 6: On you.

1864
01:52:59,359 --> 01:53:02,279
Speaker 1: Yeah, loved it too, right?

1865
01:53:02,640 --> 01:53:04,000
Speaker 4: Did Actually? Yeah?

1866
01:53:04,439 --> 01:53:06,479
Speaker 2: One of the last things he said, actually did he

1867
01:53:06,520 --> 01:53:08,760
have a drive in it? And no, he saw pictures

1868
01:53:08,800 --> 01:53:10,600
of it, but I think he was not. Obviously he

1869
01:53:10,680 --> 01:53:14,680
died recently, so he didn't. He saw pictures and he said, yeah,

1870
01:53:14,720 --> 01:53:16,880
that's great, and he says send us a note like

1871
01:53:16,920 --> 01:53:17,760
he loves it, you know.

1872
01:53:18,920 --> 01:53:19,119
Speaker 6: Yeah.

1873
01:53:19,359 --> 01:53:22,560
Speaker 2: So, but you know, you want you want to have

1874
01:53:22,640 --> 01:53:26,800
these things that inspire people. It feels different, not like

1875
01:53:27,239 --> 01:53:30,680
everything else is like the same. It's like variations on

1876
01:53:30,880 --> 01:53:33,520
the same theme. You want to have something different, but

1877
01:53:33,760 --> 01:53:36,479
you feel like how many I wasn't sure if nobody

1878
01:53:36,520 --> 01:53:36,960
would buy it?

1879
01:53:37,159 --> 01:53:41,479
Speaker 4: Or a lot of people would buy it. It just wasn't.

1880
01:53:42,520 --> 01:53:45,520
Speaker 2: I don't know, but you know, I just told him,

1881
01:53:45,560 --> 01:53:47,279
like listening, if nobody wants to buy this, we can

1882
01:53:47,279 --> 01:53:49,239
always make one that looks like the other trucks. That's

1883
01:53:49,279 --> 01:53:52,920
not like yeah, you don't just try it and there's yeah, okay,

1884
01:53:53,039 --> 01:53:54,800
it was you know, I could just say, okay, it

1885
01:53:54,840 --> 01:53:57,439
was weird failure, but now you know, make one light

1886
01:53:57,479 --> 01:53:58,079
looks just like the.

1887
01:53:58,119 --> 01:54:00,239
Speaker 4: Others and they you go.

1888
01:54:01,479 --> 01:54:05,520
Speaker 3: So it seems to capture the whole world though, like

1889
01:54:05,640 --> 01:54:08,199
elevated Tesla and the cultural zeitgeist in a way that

1890
01:54:08,359 --> 01:54:10,720
like is so exciting, Like the Travis Scott music video

1891
01:54:10,800 --> 01:54:13,079
already happened, like that was so I was waiting for

1892
01:54:13,159 --> 01:54:15,840
the first music video and I was like, yeah.

1893
01:54:17,079 --> 01:54:17,560
Speaker 4: Really cool.

1894
01:54:18,199 --> 01:54:21,600
Speaker 2: Yeah, it's gonna be hard to make that, by the way,

1895
01:54:21,680 --> 01:54:25,399
So it's not. It's because because it's a different architecture.

1896
01:54:26,640 --> 01:54:31,960
It's an exoskeleton architecture. So there isn't any cars out

1897
01:54:31,960 --> 01:54:35,399
there that have an exo skeleton architecture. So you've got

1898
01:54:35,520 --> 01:54:38,000
to rethink how the all the internals of the car

1899
01:54:38,159 --> 01:54:41,760
done so that you can use the external shell as

1900
01:54:42,239 --> 01:54:45,680
as as a load bearing structure instead of just basically

1901
01:54:47,199 --> 01:54:50,800
thin cheap metal that is effectively just therefore aerodynamic reasons.

1902
01:54:52,880 --> 01:54:56,359
So you could take you could take the external what's

1903
01:54:56,399 --> 01:54:59,640
called a class office of most cars and still drive around.

1904
01:55:01,119 --> 01:55:04,840
It loses almost no structural value. It's that they usually

1905
01:55:04,840 --> 01:55:09,000
go very very thin sheet metal. So it's a total endoskeleton.

1906
01:55:09,159 --> 01:55:13,159
So there'll be some some challenges building that.

1907
01:55:13,520 --> 01:55:14,920
Speaker 1: It's the Starships three.

1908
01:55:15,159 --> 01:55:17,720
Speaker 4: It's a starships. You can use the same steel as

1909
01:55:17,760 --> 01:55:18,079
the show.

1910
01:55:19,399 --> 01:55:21,479
Speaker 10: I'd love one of those limited quantity ones.

1911
01:55:21,840 --> 01:55:23,680
Speaker 1: I don't like Timid shout out it out.

1912
01:55:23,760 --> 01:55:26,359
Speaker 10: Yeah, Timid asked about that everyday astronaut.

1913
01:55:27,079 --> 01:55:30,239
Speaker 4: Yeah, that's cool guy. He's a cool guy. He really

1914
01:55:30,279 --> 01:55:31,800
knows what he's talking about. It does.

1915
01:55:33,079 --> 01:55:33,119
Speaker 12: So.

1916
01:55:34,600 --> 01:55:36,880
Speaker 2: Yeah, so there's there's there's a lot of a lot

1917
01:55:36,920 --> 01:55:41,760
of good things and undoubtedly be some you know, sit

1918
01:55:41,880 --> 01:55:45,479
backs along the way, but it's it's looking looking pretty good.

1919
01:55:45,760 --> 01:55:46,319
Speaker 4: Should do some.

1920
01:55:46,359 --> 01:55:48,439
Speaker 5: Closing thoughts, you know. I just remember when I got

1921
01:55:48,520 --> 01:55:51,199
my Model three. It was like a difficult time in

1922
01:55:51,279 --> 01:55:54,239
my life, and it made it easier and you know,

1923
01:55:54,840 --> 01:55:56,960
you don't have to buy gas, car drives you around.

1924
01:55:57,640 --> 01:56:00,479
It just makes your life better. All of our lives

1925
01:56:00,560 --> 01:56:03,319
in these little ways like all this struggle you do it.

1926
01:56:04,159 --> 01:56:07,079
You know it really makes things better and just makes

1927
01:56:07,319 --> 01:56:12,000
you hopeful and inspired. And you know, I just can't

1928
01:56:12,039 --> 01:56:15,359
thank you and the whole Tesla team and uh enough

1929
01:56:15,479 --> 01:56:18,159
for for all the love you put into the car.

1930
01:56:18,319 --> 01:56:19,399
Speaker 4: You know every day.

1931
01:56:19,720 --> 01:56:21,600
Speaker 5: It's just happy because I have a Model three.

1932
01:56:21,880 --> 01:56:23,800
Speaker 4: That's cool. I'm glad you like it.

1933
01:56:24,000 --> 01:56:28,399
Speaker 2: As let's go, I go to you know, maximize the

1934
01:56:29,119 --> 01:56:32,359
we make peel like really touch people's heart for the product.

1935
01:56:32,520 --> 01:56:35,199
And it's like I think, like too many of the

1936
01:56:35,359 --> 01:56:38,960
companies out there, the design these things because it is

1937
01:56:39,119 --> 01:56:42,039
sort of a spreadsheet and sort of marketing surveys and

1938
01:56:42,119 --> 01:56:44,560
that kind of thing without saying do you love it?

1939
01:56:45,119 --> 01:56:48,880
Speaker 4: You actually like the product that you're making. Touch my

1940
01:56:49,000 --> 01:56:49,760
heart very much.

1941
01:56:52,239 --> 01:56:55,840
Speaker 11: I like, thank you for this chance like doing interview

1942
01:56:55,920 --> 01:56:59,920
with all of us, and as a shareholder and Model

1943
01:57:00,039 --> 01:57:04,399
three owner, I remember like one time you tweak about

1944
01:57:04,840 --> 01:57:07,399
your money is first in and will be lost out.

1945
01:57:08,199 --> 01:57:11,000
I was really touched to see that tweak. I think

1946
01:57:11,039 --> 01:57:13,760
it's like years ago, like right after one of the

1947
01:57:13,880 --> 01:57:17,800
shareholder meeting, I was like like we see, oh will

1948
01:57:17,880 --> 01:57:21,239
do this, you know, And like after I bought my

1949
01:57:21,560 --> 01:57:25,359
Moto three. I'm more believed to the company, like I

1950
01:57:25,520 --> 01:57:27,760
order a motor y and then two side was shrup.

1951
01:57:27,840 --> 01:57:31,399
Speaker 10: I was like, I'm a Porsche fans before.

1952
01:57:31,239 --> 01:57:33,600
Speaker 5: And then right now like he was gonna get a

1953
01:57:33,640 --> 01:57:35,600
take on until he saw the range.

1954
01:57:35,840 --> 01:57:38,279
Speaker 11: Yeah, I was thinking you get a take on, like

1955
01:57:38,479 --> 01:57:40,680
why not, like give it a try, But when you

1956
01:57:40,760 --> 01:57:44,319
look at a spec the the range turned.

1957
01:57:44,119 --> 01:57:46,960
Speaker 10: Me off, like yeah, it's absolute already.

1958
01:57:46,960 --> 01:57:49,560
Speaker 11: Two oh one, Like who's gonna buy it for one

1959
01:57:49,680 --> 01:57:53,079
hundred and fifty k? Just not talk about money, just

1960
01:57:53,119 --> 01:57:56,359
talk about range itself. The spect it's like it's not

1961
01:57:56,560 --> 01:58:00,319
there yet. So with like one hundred and fifty cake

1962
01:58:00,399 --> 01:58:04,520
plus like nobody gonna buy it. Yeah, so thank you

1963
01:58:05,159 --> 01:58:07,840
and absolutely thank you very much. Well yeah, well I

1964
01:58:07,920 --> 01:58:12,680
thank thanks you guys for your sport. Just really makes difference. Yeah.

1965
01:58:12,720 --> 01:58:15,600
Speaker 6: I mean I don't know Tesla, so I hope hopefully

1966
01:58:15,720 --> 01:58:16,039
I will.

1967
01:58:18,079 --> 01:58:21,880
Speaker 10: Yeah yeah true in your shareholders call it.

1968
01:58:22,520 --> 01:58:28,239
Speaker 6: Yeah, so yeah, I got to save up, but I

1969
01:58:28,279 --> 01:58:30,239
will buy one, and I've got to cyber truck like

1970
01:58:30,279 --> 01:58:34,439
you said. But I've made so many great memories just

1971
01:58:34,520 --> 01:58:36,600
like through these cars, Like I've met all you guys

1972
01:58:37,239 --> 01:58:40,039
through Tesla and this is amazing. Just like what kind

1973
01:58:40,079 --> 01:58:44,000
of community just is created through products that you love

1974
01:58:44,600 --> 01:58:47,239
And I think that really means a lot, Like I

1975
01:58:47,319 --> 01:58:50,439
don't I think I've never seen people being so excited

1976
01:58:50,439 --> 01:58:54,439
about a product before, like having this whole family feeling.

1977
01:58:54,840 --> 01:58:55,680
That's really cool.

1978
01:58:55,960 --> 01:58:58,359
Speaker 4: Thank you so much, welcome, thank you.

1979
01:58:59,439 --> 01:59:01,079
Speaker 3: Yeah, I just want to say congrats first of all,

1980
01:59:01,079 --> 01:59:02,680
because I feel like this has been it's kind of

1981
01:59:02,720 --> 01:59:06,119
like a feel good moment for Tesla all that's happening. Yeah, obviously,

1982
01:59:06,279 --> 01:59:09,079
thank you, because like you've inspired all of us, and

1983
01:59:09,079 --> 01:59:10,920
I think there's not many things in the world that

1984
01:59:11,000 --> 01:59:13,600
like people get pumped about that are positive about the future.

1985
01:59:13,760 --> 01:59:15,920
Like I really feel like we need that now, and

1986
01:59:16,000 --> 01:59:18,800
so Tesla, like bringing us all together has been really

1987
01:59:18,800 --> 01:59:20,199
awesome and really much needed.

1988
01:59:20,239 --> 01:59:22,600
Speaker 4: I think, great, this is this is really cool.

1989
01:59:23,920 --> 01:59:26,119
Speaker 1: I think i'd have to agree with what Gally said,

1990
01:59:26,159 --> 01:59:29,239
just whear Tesla's going. You have a car that's actually

1991
01:59:29,279 --> 01:59:31,960
making a difference with the clean energy, changing the earth,

1992
01:59:32,000 --> 01:59:34,560
cleaning things up. I mean it made me excited to

1993
01:59:34,600 --> 01:59:37,279
see and you're so efficient and you can you actually

1994
01:59:37,439 --> 01:59:39,359
get things the way you do it, you just I

1995
01:59:39,399 --> 01:59:42,680
don't know, you get it done. And I trust you

1996
01:59:42,800 --> 01:59:45,840
and I trust the company, and it's it's I don't know,

1997
01:59:46,079 --> 01:59:48,560
such a passion. It's amazing. I don't know. I just

1998
01:59:48,600 --> 01:59:49,720
don't get cut the words out.

1999
01:59:51,600 --> 01:59:53,439
Speaker 4: Sometimes a little later we think we get it done

2000
01:59:53,439 --> 01:59:53,760
in the end.

2001
01:59:53,880 --> 01:59:55,479
Speaker 10: Yeah, yeah, yeah, always deliver.

2002
01:59:56,640 --> 02:00:01,079
Speaker 4: Yes, thank you, you're welcome, Thanks please for it.

2003
02:00:01,800 --> 02:00:04,640
Speaker 12: Well, I just want to say, like how I described this,

2004
02:00:05,079 --> 02:00:07,399
this podcast, like we kind of it kind of just

2005
02:00:07,439 --> 02:00:08,800
grew out grassroots, right.

2006
02:00:08,760 --> 02:00:17,520
Speaker 4: And thanks for listening. See you in the next episode.