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Elon Musk: Officially a fraud and piece of shit. Official or unofficial war criminal?


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Just now, F250 said:

This makes absolutely no sense and is nothing like what lead to AWS. Elon is just talking out of his asshole.

Yeah I’m not talking about the practicality of the overall concept which, as I understand it, is to use idling EVs to provide computational capacity for AI. I'm asking specifically about the terminology he used. “Kilowatts” does not seem like an appropriate unit for computational capacity. Seems like that should be expressed in flops. But I’m not a computer engineer.

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1 hour ago, texasdago said:

To be honest... they all suck but wrapping them hides a little bit of the suck so, regardless of the color, the wrap is an improvement

The wrap guys must love Cybertruck owners. They all look the same, so most of the owners will want a wrap. They'll pay a lot for it, and it's the easiest wrap job ever.

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1 hour ago, Francisco 2.0 said:

 

One of the reasons these chucklefucks bought the damn thing is it was made of stainless; it looked cool and shit.  Like nothing else on the road!

Then some of them promptly decide to cover the thing in a giant sticker.

That's 'cause after they buy it they realize stainless steel looks like shit on cars.

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4 minutes ago, BrickHorn said:

Yeah I’m not talking about the practicality of the overall concept which, as I understand it, is to use idling EVs to provide computational capacity for AI. I'm asking specifically about the terminology he used. “Kilowatts” does not seem like an appropriate unit for computational capacity. Seems like that should be expressed in flops. But I’m not a computer engineer.

Yeah, in terms of DC resources it would make sense but that's not what he is inferring in his statement. But this is a very common theme with Elon. He often says things that sound like he doesn't really understand the topic and is just repeating what he heard someone else say.  Which makes sense because he is a bullshit artist.

What really bugs me about this is not that he bullshits so much but the media always treats his commentary as something worthy of reporting.

If someone like that quack Stang talks about his theory of everything people rightfully laugh and mock him. When Elon does it people take him seriously.

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1 hour ago, Celery Man said:

it also takes it a step further from... you can purchase a Tesla and own the car, and it has capabilities that you cannot access without paying to have them unlocked (like range). I know that that was a story a few years back and I assume it's the case now. You can own the car without being able to use the whole car because features are software locked. 

 

So Teslas are basically Clash of Clans, but a car?   Or any of those other "free game apps" that you download but to actually do anything you have to start making in app purchases.    

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2 hours ago, F250 said:

Yeah, in terms of DC resources it would make sense but that's not what he is inferring in his statement. But this is a very common theme with Elon. He often says things that sound like he doesn't really understand the topic and is just repeating what he heard someone else say.  Which makes sense because he is a bullshit artist.

Yep, completely something he read on Twitter and is flailing around to try and distract from the numbers that came out.

There is a possibility he knows it’s bullshit and is trying to distract from the numbers.  Especially with that “imagine 100 million Teslas sitting there with all that computing power” crap or whatever. But I lean towards him reading something on Twitter.  Sucks to be the Tesla engineers, or Twitter engineers who get yelled at to make it happen.

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What the fuck are we looking at? Is this twisted AI? I can't even make sense of those shorts and what the fuck has to be wrong with you to have that fucked up distended gut to that extent? Taking tons of roads but not doing any of the working out?

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1 minute ago, Fudge Nuggets said:

Not if your car is hardcore, nerd. 

The Xphone Phive is going to be so hardcore bro! You'll login with your blue check credentials so you know it's super secure and totes legit. Battery life will be shit because they're going to use it to mine Bitcoin and train Gronk AI, but that's price you pay to be Xtreme.

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10 minutes ago, BearMace said:

The Xphone Phive is going to be so hardcore bro! You'll login with your blue check credentials so you know it's super secure and totes legit. Battery life will be shit because they're going to use it to mine Bitcoin and train Gronk AI, but that's price you pay to be Xtreme.

Bookmarking this, because I'm certain that at least 75% of it will turn out to be an accurate prediction of our shittacular future.

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19 hours ago, Goredho said:

Guys, he's going to revolutionize cloud computing with his intardnet of shitty things.  What could possibly go wrong with the world's first completely decentralized and fully mobile data center?

https://www.theverge.com/24139142/elon-musk-tesla-aws-distributed-compute-network-ai

Elon Musk wants to turn Tesla’s fleet into AWS for AI — would it work?

Musk, who loves to riff on earnings calls, compared the unused compute power of millions of idle Tesla vehicles to Amazon’s cloud service business. If they’re just sitting there, he mused, why not put them to good use to run AI models? (Also, have you ever really looked at your hands? No, I mean really looked?)

“There’s a potential... when the car is not moving to actually run distributed inference,” Musk said. “If you imagine the future perhaps where there’s a fleet of 100 million Teslas and on average, they’ve got like maybe a kilowatt of inference compute. That’s 100 gigawatts of inference compute, distributed all around the world.”

So, to summarize, you buy a Tesla. It’s your property. But Musk wants to freely use the unused compute power in your vehicle for... something? Possibly AI-related? Hopefully not the blockchain. (Tesla is an AI company now, by the way. Musk said so himself during the call.)

lol

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19 hours ago, Francisco 2.0 said:

One of the reasons these chucklefucks bought the damn thing is it was made of stainless; it looked cool and shit.  Like nothing else on the road!

Then some of them promptly decide to cover the thing in a giant sticker.

its because everything outside stains the steel because they used shitty (cheap) steel.

no kidding here - basically any road gunk, bugs, bird poop, rain, anything.

but no fear, you too can use this magic product to clean your $100k car!

 

Spoiler

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6 hours ago, MrBig said:

Dustin Moskovitz, one of the co-founders of Facebook, posted on Threads that he believes Tesla is committing Enron level fraud.

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here's a car guy on substack who goes though their financials, this is long but points out a LOT of issues they have

https://bradmunchen.substack.com/p/tesla-q1-results-a-shady-set-of-numbers

ill share the highlights:
 

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Despite continued price cuts, a one-month shutdown of production at their German factory, and 20% lower deliveries than in Q4 2023, Tesla somehow managed to eke out roughly flat Automotive gross margins of 18.5% in Q1 versus 18.9% in Q4 2023. Imagine having flat gross margins despite 20% lower volumes and roughly 5% lower prices.

This sounded alarm bells in my head and it turns out to be the biggest takeaway from the Q1 results: deferred FSD revenue recognition must have been huge. While Tesla noted in their Shareholder Deck that they recognized deferred FSD revenues in Q1, they did not provide a number and none of the analysts on the earnings call asked about it.

 

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Tesla clearly uses these deferred revenues to prop up profits during weak quarters. Figure 1 shows that the highest bookings (highlighted in red) were made during the weakest quarters of the past 3 years.

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The clearest sign that Tesla booked a large amount of deferred FSD revenues in Q1 is the 1.5% QoQ rise in average unit prices versus Q4 2023. Tesla cut prices in China by around 3% and rampant inventory discounts in the US and the EU likely led to a 5% decline in those regions.

Assuming that Tesla should’ve seen average prices drop by 3% QoQ in Q1 (excluding deferred FSD revenue bookings), I can extrapolate $700 million of recognition in my model. While this is highly speculative at the moment, it is worth noting as there is no way Tesla’s car prices rose by 1.5% QoQ. Also, note that deferred revenues on the balance sheet within current assets were slightly up QoQ to $3.0 billion rather than declining. Non-GAAP EPS would’ve been $0.27 or 40% below Tesla’s reported $0.34. And this would’ve undershot consensus by 67% rather than the 8% miss of reported numbers.

 

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Tesla’s Q1 Results Minus an Estimated $700m of Deferred FSD Revenue Recognition

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In the footnote where Tesla shows days’ inventory, Tesla has an arcane formula for counting inventory: “Days of supply is calculated by dividing new vehicle ending inventory by the relevant quarter’s deliveries and using 75 trading days.” Based on this, Tesla’s Q1 inventory rose from 15 days’ supply in Q4 2023 to 28 days in Q1.

This implies Q1 vehicle inventory of 144,409 units (see Figure 2 below), which amounts to a whopping 33% of total Q1 production. And while Q2 is a seasonally higher quarter for sales, having this much inventory on hand will likely lead to deep price cuts, the first of which came worldwide over the weekend.

 

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this is all you need to know about how poorly things are going. their implied Q1 inventory is 33% of Q1 production! 33%!!!!!!!!!

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  • Quote

    Musk says deliveries will grow YoY in 2024: Musk said, “I think we’ll have higher sales this year than last year.” This is an astounding proclamation given that April sales in China are down over 50% YoY and the EU is down 20% YoY. Having cut headcount by nearly 20% last week, it is clear that Musk knows that demand has fallen off a cliff. Note that Musk did something similar on the Q4 2022 earnings call in January 2023 with regard to Tesla’s unprecedented 20% price cuts a few weeks before: in his prepared statement, Musk said, “We currently are seeing orders at almost twice the rate of production”. This was either a lie or the peak of orders before they fizzled out, as deliveries only grew 4% QoQ despite the 20% price cuts. I lean towards the latter having heard a similar tone today.  

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last few things about the stock vs other car stocks:

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"but wait, it's an AI stock!!!!"

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5 minutes ago, Parliament said:

“Deferrer FSD revenue.”  So they wrote themselves an iou from the future?  Like claimed revenue they think might come later?  Is that legal?

 

technically, yes? from his article

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Edited by NoName
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5 minutes ago, Parliament said:

“Deferrer FSD revenue.”  So they wrote themselves an iou from the future?  Like claimed revenue they think might come later?  Is that legal?

That's called "doing an Enron" with the mark-to-market fuckery to cook the books

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