When Tesla releases its first quarter earnings this afternoon, the company’s CEO Elon Musk will field the usual questions about new products, new factories, and progress toward its futuristic vision of self-driving cars and robot workers. But Musk will also face increasingly urgent questions about its current state of affairs — and why everything seems to be going to shit.
Earlier this month, the company reported its first year-over-year sales drop in four years, a sign of rougher waters ahead. Tesla’s stock has fallen more than 40 percent since the start of the year, including a 13 percent drop in the last week. The company laid off over 14,000 employees last week, 10 percent of its global workforce — which could end up being closer to 20 percent when all’s said and done, according to Bloomberg. Today’s earnings report is expected to include Tesla’s lowest profit margins in six years, a sign that rampant price-cutting continues to exact a toll.
Probably realised that “full” self-driving the way people think of it is not likely to happen in our lifetimes. And Tesla’s existing system is an out and out scam.
But I expect he’ll try and combine it with his stupid tunnel idea, instead of, I don’t know, a train?
It’s funny how so many were confident FSD really was safer than human drivers 10 years ago. Some even said it’s irresponsible not to let these self driving cars drive on the street.