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Tesla Worth $5 Trillion · Elon Musk Podcast

• 0:01
  Hey everybody, welcome back to the Elon Musk Podcast.
• 0:05
  This is a show where we discuss the critical crossroads that
• 0:08
  shape SpaceX, Tesla X The Boring Company.
• 0:12
  And Neuralink. I'm your.
• 0:14
  Host Will Walden Tesla CEO Elon Musk recently secured a
• 0:18
  significant win when more than 70% of shareholders approved his
• 0:23
  substantial compensation package.
• 0:25
  This approval, coming after a public campaign by Tesla to
• 0:29
  rally shareholder votes, represents a crucial moment for
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  Musk's earnings and the company's future strategy.
• 0:35
  The shareholder vote indicates strong support for Musk.
• 0:39
  Zescher Your This is the Zescha referrer Nas Khor Tork's
• 0:44
  leadership Despite a contentious lead up, many analysts had
• 0:48
  anticipated a tight vote due to the company's volatile stock
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  performance over the past year. However, major institutional
• 0:57
  shareholders like Vanguard played a key role in ensuring
• 1:02
  the package's approval, leading to a notable post vote increase
• 1:07
  in Tesla's stock price. Although the shareholder vote
• 1:11
  was a triumph for Musk, its legal binding nature remains
• 1:15
  uncertain. The Delaware judge, who had
• 1:17
  previously invalidated Musk's pay package in January, cited
• 1:22
  transparency issues in the award process.
• 1:25
  Whether the recent shareholder support will influence the
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  judge's final ruling is still unclear.
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  Another outcome of the shareholder vote is Tesla's
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  decision to relocate its corporate headquarters from
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  Delaware to Texas. This move has sparked a series
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  of legal battles in Delaware, where the company has been
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  traditionally based, reflecting the complexity of such corporate
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  transitions. Concurrently, there have been
• 1:49
  developments on Musk's social media platform X, formerly
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  Twitter. Bloomberg has reported filings
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  that confirm long speculated plans to transform X into a
• 1:59
  payments application. This shift aims to diversify
• 2:04
  revenue streams but faces numerous challenges, including
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  technical modifications and building user trust for
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  financial transactions on a social networking platform.
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  Musk's background with PayPal, where he played a pivotal role
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  in its development, lends some credibility to these plans.
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  Over the years, Musk has often spoken about his vision of an
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  everything app, and turning X into a payment service
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  represents a step in that direction.
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  Another recent change on X involves hiding likes on posts.
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  Max Red of the Read Max newsletter suggests this move
• 2:41
  might help celebrities avoid potential embarrassment from
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  their online interactions. However, this change also has
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  broader implications, such as reducing transparency and
• 2:53
  potentially eroding user trust. Max Chaffin, a Bloomberg
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  Business Week senior writer, and other commentators have debated
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  the necessity and impact of hiding likes.
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  While some argue it could protect privacy, others believe
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  it diminishes the platform's open nature and the clarity of
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  social interactions. At the recent Tesla shareholder
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  meeting, there were several unexpected announcements.
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  Musk revealed ambitious plans for the company's future,
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  including ramped up production of the cyber truck, the
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  development of autonomous vehicles, and progress on the
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  Optimus humanoid robot project. Musk highlighted that Tesla aims
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  to increase its market value tenfold through advancements in
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  autonomous vehicle technology. He projected that the
• 3:40
  combination of full Self driving software and vehicle hardware
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  would soon enable a fleet of robot taxis, significantly
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  boosting Tesla's valuation. Despite past missed targets,
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  Musk asserted that the development of autonomous
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  technology is accelerating. He confidently predicted that
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  Tesla's market valuation could soar from its current $585
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  billion to over $5 trillion by 2029, driven primarily by the
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  adoption of autonomous vehicles. Musk also discussed the Optimus
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  robot, introduced in 2021, which he envisions as capable of
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  performing a wide range of tasks, from household chores to
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  factory work. He suggested that the market for
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  humanoid robots could be enormous, with Tesla potentially
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  selling 100 million units annually, contributing to a
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  staggering increase in the company's overall market value.
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  During the shareholder meeting, Musk provided updates on the
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  production of the Cybertruck, which has seen significant
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  interest and reservations. He reported that Tesla had
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  achieved record weekly production of 1300 units and
• 4:52
  plans to introduce more affordable versions of the truck
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  in the near future. Musk acknowledged the challenges
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  of scaling up cyber truck production but remained
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  optimistic about meeting demand and expanding the market to
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  regions like China and Europe after initial volume production
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  is stabilized. The shareholder meeting also
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  touched on Musk's interactions with former President Donald
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  Trump. Musk disclosed that Trump
• 5:19
  occasionally calls him, and these conversations have
• 5:22
  included discussions about the positive aspects of electric
• 5:26
  vehicles potentially influencing Trump's stance on E VS.
• 5:30
  There have been rumors reported by the Wall Street Journal that
• 5:34
  Trump might consider Musk for a policy advisory role if he wins
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  the upcoming presidential election.
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  Musk, however, stated that he has not discussed any potential
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  advisory position with Trump. The overwhelming shareholder
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  support for Musk's pay package and the strategic moves
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  discussed at the meeting indicate a strong alignment
• 5:54
  between Musk's vision and the shareholders confidence in his
• 5:57
  leadership. The legal and operational
• 6:00
  challenges ahead will test this support, but for now, Musk has
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  bolstered his standing with both shareholders and the market.
• 6:07
  The recent developments under score the dynamic nature of
• 6:10
  Musk's ventures and the intricate interplay between
• 6:14
  corporate governance, legal scrutiny, and visionary
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  leadership. The future impact of these
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  decisions on Tesla and Musk's broader ambitions remains to be
• 6:24
  seen, but the current trajectory points towards significant
• 6:28
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  with you. Hey, thank you so much for
• 7:04
  listening today. I really do appreciate your
• 7:06
  support. If you could take a second and
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  hit the subscribe or the follow button on whatever podcast
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  appreciate it. It helps out the show
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  tremendously and you'll never miss an episode.
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  And each episode is about 10 minutes or less to get you
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  caught up quickly. And please, if you want to
• 7:24
  support the show even more, go to patreon.com/stage Zero.
• 7:30
  And please take care of yourselves and each other, and
• 7:32
  I'll see you tomorrow.