Latest / Elon Musk Podcast / Elon Musk loses $200 billion + Twitter and Tesla Updates

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Elon Musk loses $200 billion + Twitter and Tesla Updates · Elon Musk Podcast

• 0:00
  According to a report by Bloomberg, Twitter CEO, Elon
• 0:03
  Musk has become the first person in history to lose.
• 0:06
  A staggering, 200 billion dollars in net worth.
• 0:10
  This significant drop in wealth. Can be largely attributed to the
• 0:13
  decline in the value of musk's shares.
• 0:15
  An electric vehicle company, Tesla of which he is the CEO.
• 0:20
  And the value of the shares has decreased by 65% in 2022 and
• 0:25
  plummeted by 11% in a single day last week and it's Its peak in
• 0:30
  November 20 21, musk's Fortune was estimated a 340 billion
• 0:36
  dollars by Bloomberg's billionaire index and he is
• 0:39
  currently worth around one hundred and thirty seven billion
• 0:43
  dollars. Now musk was previously the
• 0:45
  world's wealthiest person but has recently been overtaken by
• 0:48
  European fashion magnate, Bernard arnault the head of lvmh
• 0:53
  in along with the challenges facing Tesla musk has also faced
• 0:57
  controversy surrounding hands management of Twitter.
• 1:00
  Which he acquired for forty four billion dollars.
• 1:03
  The platform has struggled financially and has faced
• 1:06
  criticism from its handling of free speech issues.
• 1:09
  Leading musk to describe it as a plane that is headed toward the
• 1:12
  ground at high speed with the engines on fire.
• 1:15
  And the controls don't work. Now in an effort to improve its
• 1:19
  financial situation. Twitter, shut down servers in a
• 1:22
  data center in Sacramento and reportedly fired janitors at its
• 1:26
  San Francisco headquarters causing some staff.
• 1:30
  To bring in their own toilet paper Tesla, meanwhile is facing
• 1:33
  mounting competition and is responded by offering American
• 1:37
  consumers. A discount on certain car,
• 1:39
  models, and reducing production, and it's Shanghai plant.
• 1:43
  Now, the world's billionaires have lost nearly two trillion
• 1:46
  dollars in 2022, according to Forbes an American billionaires
• 1:50
  were hit, particularly hard, losing a combined, six hundred
• 1:54
  sixty billion dollars and musk lost the most of any individual.
• 1:59
  However, It should be noted that this loss comes after the
• 2:03
  world's billionaires at a total of five trillion dollars to
• 2:06
  their Collective wealth. Between March 2020 in November
• 2:09
  20, 21 Forbes attributes. The losses in the United States
• 2:13
  to a decline in Tech stock value Rising interest rates inflation
• 2:17
  and a weakening economy. Tesla's stock has headed,
• 2:20
  tumultuously are experiencing ups and downs in the markets.
• 2:23
  And on Thursday, the stock was up almost six percent but it has
• 2:27
  been down more than 10% since. Last week this drop in stock
• 2:31
  price has been exacerbated by a new cut to its price, Target
• 2:35
  from Morgan Stanley with reduced, its Target from three
• 2:39
  hundred and thirty dollars per share to $250.
• 2:43
  And despite this Morgan Stanley, still believes.
• 2:46
  The company is somewhat undervalued due to its head.
• 2:49
  Start over other electric car, competition and potential tax
• 2:52
  advantages from the inflation reduction Act passed earlier
• 2:56
  this year, the company's losses have also significantly.
• 3:00
  Impacted CEO Elon musk's net worth, which has decreased to
• 3:04
  132 billion dollars, according to the Bloomberg billionaires,
• 3:09
  index less than half of what it was at the beginning of this
• 3:13
  year, musk lost the title of the world's richest person to
• 3:15
  Bernard arnault the French luxury goods, giant lvmh
• 3:20
  chairman two weeks ago. And there are several reasons
• 3:24
  why Tesla's stock has been performing poorly in the market.
• 3:27
  What is the perceived weakening? Demand for Tesla's.
• 3:29
  Ducks the company recently offered to rebates for buyers
• 3:33
  who took delivery of a vehicle before the end of the year
• 3:36
  initially offering a three thousand seven hundred and fifty
• 3:39
  dollar discount earlier this month and then doubling that
• 3:42
  rebate to seven thousand and five hundred dollars.
• 3:45
  Last Thursday. In this rare sale May indicate
• 3:48
  the Tesla is starting to see cracks and demand in both China
• 3:52
  and the US particularly as EV competition increases another
• 3:57
  reason for the decline in Tesla's stock price.
• 4:00
  Is a possibility of a recession in the US economy next year
• 4:03
  which could hurt Car Sales must himself predicted on a Twitter
• 4:07
  spaces. Call that there will be a
• 4:09
  serious recession in 2023. Another Factor contributing to
• 4:13
  the decrease in Tesla stock value.
• 4:16
  Is the question of whether the company was ever worth its
• 4:19
  trillion dollar valuation at the start of the year.
• 4:22
  And at its peak Tesla was worth more than 12 largest, automakers
• 4:26
  in the world combined despite having a fraction of the Their
• 4:30
  sales. And today it's worth three
• 4:31
  hundred and ninety nine billion dollars.
• 4:34
  Some critics, argued that much of Tesla's, High valuation was
• 4:37
  based on promises made by musk about future products.
• 4:41
  Many of, which were not delivered on time or at all.
• 4:45
  One example is the Cyber truck, Tesla pickup truck that was
• 4:49
  first unveiled around three years ago, with the premise of
• 4:52
  production, starting in 2021. However, this production date
• 4:56
  has yet to be met and additionally.
• 4:58
  There have been concerns about Tesla's ability to produce cars
• 5:02
  at a high volume and at a low cost the company has struggled
• 5:05
  with production issues in the past and they are have been
• 5:08
  doubts about. Whether it will be able to scale
• 5:10
  production to meet the high demand for its Vehicles.
• 5:14
  There are also concerns about the high costs associated with
• 5:17
  producing Tesla's electric cars, which may limit the company's
• 5:20
  profitability. And despite these challenges,
• 5:23
  there are also several factors that could potentially boost
• 5:26
  Tesla stock price in the future. One is the increase.
• 5:29
  Increasing demand for electric vehicles as countries and cities
• 5:33
  around the world adopt stricter emission.
• 5:36
  Standards Tesla has a strong brand and a significant market
• 5:39
  share in the EV industry which could help it capitalize on the
• 5:43
  growing demand the company's expansion into new markets such
• 5:46
  as China and Europe can also Drive sales and increase his
• 5:49
  Revenue. Additionally, Tesla has a
• 5:51
  diverse range of products including electric cars, energy
• 5:55
  storage systems, and solar panels, which would help it.
• 5:58
  Diversify the The new streams and mitigate the impact of any
• 6:02
  downturn in a particular Market in the past the company has
• 6:05
  struggled with production issues, leading to delays in the
• 6:08
  delivery of its vehicles. And in order to meet the high
• 6:11
  demand for its products, Tesla will need to scale up production
• 6:15
  and ensure that it can be so efficient and cost-effective in
• 6:20
  this may involve investing in New Technology and Manufacturing
• 6:23
  processes as well as hiring and training additional staff.
• 6:27
  Another challenge for Tesla is the hi.
• 6:29
  I cost of producing its electric vehicles, the batteries, and
• 6:33
  other components that go into these cars can be extremely
• 6:35
  expensive and this cost is passed on to the consumer.
• 6:40
  This may make Tesla's products less affordable for some
• 6:43
  customers, which could limit the company's sales and
• 6:46
  profitability. And we've been waiting for a sub
• 6:49
  30 thousand dollar Tesla model for years and apparently they've
• 6:56
  been working on it behind the scenes that whole time to get
• 6:59
  into You the lower markets and in order to boost sales, Tesla
• 7:04
  has moved into new markets, they're expanding into China and
• 7:08
  Europe, which could drive sales and increase Revenue.
• 7:12
  Tesla also has that diverse range of products that we talked
• 7:15
  about. So diversification will be the
• 7:18
  key to longevity of the company, don't forget the Tesla robot
• 7:22
  either because that is a huge deal in the manufacturing.
• 7:26
  And also the consumer realm if you enjoy the Eli.
• 7:29
  On musk podcast, please hit the Subscribe button on the podcast
• 7:34
  app of your choice. It really does help out the
• 7:36
  short tremendously. So if you could do that real
• 7:38
  quick, I'd be super grateful. Now, let's move on to a little
• 7:41
  bit of Twitter. Technology news, Twitter will
• 7:44
  soon let you swipe between different views, containing
• 7:48
  recommended and follow tweets, Trends topics and more.
• 7:53
  And that's what Elon Musk said, new Twitter navigation coming in
• 7:57
  January, that allows swiping to see.
• 7:59
  Side to switch between recommended and follow tweets,
• 8:02
  Trends topics, Etc, until then tap Stars icon on upper right of
• 8:08
  home screen to switch. So at this point you have to tap
• 8:12
  on the star icon, a lot of people that I've talked to don't
• 8:15
  even know that the star icon exist, they just thought it was
• 8:18
  something cool to look at have never experienced the star,
• 8:22
  which switches between Latest tweets from everybody or
• 8:27
  recommended tweets to you. And that's a game changer for a
• 8:30
  lot of people that you can swipe left or right to get to a
• 8:33
  different screen. Now, I currently have my Twitter
• 8:35
  set up with the latest tweets and I like it that way because I
• 8:40
  get to see the latest news and it's great but some people just
• 8:42
  kind of want to see what's recommended to them, what
• 8:45
  they're going to probably like more than sifting through.
• 8:49
  You know, the 500 people that they follow.
• 8:53
  I follow a lot of Of people on Twitter, but I love the idea of
• 8:57
  having as much news as possible in enough viewpoints to make my
• 9:01
  own opinions, from both sides, and with space news, I use my
• 9:06
  Twitter mainly for space news and SpaceX news and some Elon
• 9:09
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  If I were to switch to the algorithm choosing who, I who I
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  look at, and what I was recommended to me would be a
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  completely different experience for me.
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  And some people love that. Some people love that
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  experience. So now you'll be able to swipe
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  between top latest trending and topics that you follow.
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  So you have Fort Whyte choices from your home screen that you
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  can check out. So it may give you different
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  updates on every one of those. Ins.
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  So, if you do the top, the latest, you know, you'll
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  probably get most of, you know, if you go through your whole
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  latest feed, you'll probably be able to check out all of the
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  tweets from Top trending and topics with just going through
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  your latest as far as I know at this point.
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  That's what I've heard and this feature takes things to a new
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  step and it adds different views and makes it easier to access.
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  All those different views just by swiping and swiping left and
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  right. Has been around Forever on
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  smartphones. So it's about time Twitter,
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  caught up with the rest of the internet in the rest of the app
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  Community. With the swiping feature, it
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  seems kind of useful though, and it might take a little bit of
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  time to get used to, but the things that you might miss on
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  your first screen, you might swipe and find something
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  important or something cool that you missed just by swiping left
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  or right. So it's unclear when the feature
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  will go live for all the users Is but there will be new
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  additions to Twitter in the coming months and there's been a
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  view counts on Twitter, there's been ranking and conversations
• 14:03
  lately, blue subscribers Square profile, pictures for Brands
• 14:08
  different color, check marks there is a context in tweets
• 14:13
  now. So that's a whole other thing
• 14:16
  that Ilan has added to Twitter since he's joined up.
• 14:20
  So it's only been a few months now.
• 14:22
  And it looks like Twitter shaping up to be a full-featured
• 14:26
  social media platform. Sort of like what Facebook was I
• 14:30
  guess. I'm, I've seen a little Facebook
• 14:32
  Vibes here. I don't know if you see this to
• 14:35
  Facebook was trying to be everything for everybody.
• 14:38
  I have Facebook payments have Facebook games.
• 14:40
  They have your wall, of course, they have video streaming.
• 14:44
  They have kind of everything. This is sort of what Ilan was
• 14:47
  talking about before to how we wanted to make it, like a Like
• 14:52
  an app that does everything. You know, you can do your
• 14:55
  banking on it, you can buy things on it.
• 14:57
  You can chat with your friends on it and all those things are
• 15:00
  kind of available on Facebook at this point or meta, whatever you
• 15:04
  want to call it. Metis.
• 15:04
  Facebook. So, is this the downfall of
• 15:08
  Twitter? Could it be?
• 15:10
  I don't know. That's what I'm going to go.
• 15:11
  Throw that out there for you because there's a possibility
• 15:14
  that Twitter becomes something huge and Bloated or they
• 15:18
  streamline it into the better version of Something like
• 15:22
  Facebook because Facebook ID. It's, it's a lot to check out.
• 15:28
  It's a lot to get into as far as all of the things that Facebook
• 15:33
  offers it would be kind of cool to do a one-to-one perspective
• 15:37
  of the different, social media platforms and what they offer, I
• 15:39
  would if there's something like that available online, I'll,
• 15:43
  I'll look into it and I'll loop back with you in another
• 15:46
  podcast. But I won't say, thanks
• 15:47
  everybody for listening to the show and taking the time out of
• 15:50
  your day to spend it here. With me.
• 15:53
  Now, let's move on to a little bit of Space X news because
• 15:56
  there's some stuff happening down at Starbase right now in
• 16:00
  Boca Chica, Texas, that may change the outcome of 2023 in
• 16:06
  the Starship program. Moving forward right now.
• 16:10
  Booster 9 is at the testing facility in the launch site at
• 16:15
  Starbase Texas. Booster 7, which Ilan has said.
• 16:20
  He wants to send to. With ship, 24 is back at the
• 16:26
  high Bay getting repairs, or the crew is checking it out.
• 16:32
  We're not 100% sure what's going on.
• 16:34
  But usually, when a booster goes back to the high Bay is getting
• 16:38
  refurbished or the engines are getting ripped off of it.
• 16:42
  Now, what happens next if they can use these Raptors, if they
• 16:47
  weren't damaged enough from the recent test down there and okay,
• 16:51
  chica then there's a possibility that booster seven could fly in
• 16:55
  the future but booster 9 looks structurally sound and really
• 17:00
  what they're doing now is doing cryogenic testing on it.
• 17:03
  They're doing pressure tests on it and they're testing out the
• 17:06
  facilities to make sure that everything matches up properly
• 17:09
  with the booster and the ground facilities, the ground systems
• 17:14
  at Starbase Texas, where they feed in the fuel and also the
• 17:18
  launch facilities. There are so what's happening
• 17:21
  with R7 or not? 100% sure.
• 17:24
  Now, booster 9 looks like a really slick version of booster
• 17:28
  7. The welds on booster 9 look
• 17:32
  much, much cleaner than booster 7.
• 17:34
  Now also ship 24. Looks like it's in a good place.
• 17:39
  Some of the tiles got rocked off.
• 17:41
  Now that's one of the problems that could stop this ship in
• 17:45
  particular from flying for the orbital flight test.
• 17:50
  If they could figure that out in the next month or two.
• 17:53
  Now remember Ilan said that this configuration of ship 24 in
• 17:58
  booster, seven were to be flying by the end of this year.
• 18:04
  They wanted to fly it by December.
• 18:06
  And also there were NASA Representatives, this said they
• 18:09
  have a good feeling that SpaceX was going to fly that Starship
• 18:12
  by the end of 2020 to, but that didn't happen.
• 18:16
  We're in 2023 now. So, moving forward.
• 18:19
  The test schedule that happened in 2021 with booster for and
• 18:25
  ship 20, that got pushed back and they tested different
• 18:30
  boosters. And what could be happening now?
• 18:32
  Is that they may be going into that phase again?
• 18:36
  Where they see that there's so many opportunities to launch
• 18:41
  something for the first time with something that's upgraded
• 18:44
  to Save A Lot on the line they're working with NASA for
• 18:48
  the LS program. And if they get this wrong and
• 18:52
  NASA knows that this is a configuration that something
• 18:56
  could go wrong with. But if they do something that
• 18:59
  sets them back a year, maybe two years, there's a possibility
• 19:04
  that they don't get to do. The first lunar Landing of the
• 19:09
  Starship with the Artemis three program, you know, if they get
• 19:14
  pushed back because their orbital launch Mount gets
• 19:17
  destroyed at the end, the first and now, A launch it's going to
• 19:20
  send them back years you know? Like who knows how long it's
• 19:24
  going to set us back months possibly a year they'd have to
• 19:27
  rebuild everything from scratch. I mean the the process that it
• 19:31
  took them to build the orbital launch Mount.
• 19:34
  The mount itself will be fine but everything that
• 19:36
  configuration all the pipes, all the electronics, everything in
• 19:41
  there is irreplaceable right now.
• 19:45
  You know, this is the first time they've ever built it.
• 19:47
  They know how to do it now, which is great.
• 19:49
  So, They'll do it faster than they did it the first time, but
• 19:53
  they're going to have to look into this and see if the booster
• 19:57
  7 is going to be the way to go, and if they're figuring that out
• 20:01
  right now, there's a possibility that we do get to see a booster
• 20:05
  7 and ship 24 flight by were time I'm going to guess second
• 20:11
  quarter of this year. So take that with a grain of
• 20:15
  salt though because you never know I was at.
• 20:17
  I was at Boca, Chica, Texas for 10 months.
• 20:19
  Waiting for Starship to launch. I was right there on the side of
• 20:23
  the road. I moved to Texas to watch that
• 20:25
  thing launched in September of 2021 and it never happened.
• 20:30
  So there's a possibility, I'm not being a naysayer.
• 20:33
  I'm just saying that there's a possibility that this
• 20:36
  configuration may not fly like we want it to fly.
• 20:40
  It might be the time to move on to booster 9.
• 20:44
  So hopefully we get to see if late in the first quarter, but
• 20:48
  there's a possibility that Second quarter, 2023 will be the
• 20:52
  first orbital test flight of Starship do really appreciate
• 20:57
  everybody who's been signing up and subscribing on all of their
• 21:01
  podcast platforms. We're growing like crazy and
• 21:04
  it's because of you, and I really do love the interaction
• 21:08
  of getting on all the platforms. So thank you so much for that.
• 21:12
  I couldn't do it without you. This is all on you.
• 21:15
  Let's have a great New Year, everybody.
• 21:17
  And yeah, moral on news. Who's comin in hot every single
• 21:21
  day.