Tesla Inc.’s earnings call Wednesday should have been a victory lap, after the electric-car maker reported quarterly profit of more than $2 billion for the first time, wrapping a year when earnings tripled and extinguished doubts about profitability.
Musk tells these exaggerations to get consumers to pay thousands of dollars, or hundreds a month, for “Full Self Driving” software, even while arguing to the California Department of Motor Vehicles that the software is not autonomous. He then uses customers’ willingness to pay for that software — which does not do what it claims — to attract investors, while not revealing the data that supposedly proves his theories.
“This, I think, has the potential to be more significant than the vehicle business over time,” he said, while basically implying he hopes to one day replace his human workforce with the robots.
tpoletti 😎😎😎
tpoletti Because he knows that profits are illusionary. He makes money with narrative and stock sales Issuing stock and selling his own stock
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