THIS YEAR AND 5 1/2 BILLION OVER
THE NEXT THREE.
DAVID: TOUGH SELL.
ROBERT THANK YOU VERY MUCH.
WILL ELON MUSK BE ABLE TO TURN
THE TIDE OF A STRING OF NEGATIVE
HEADLINES AND CONVINCE INVESTORS
THEY ARE MOVING FULL STEAM
AHEAD?
>> HE'S STILL INVOLVED WITH THE
SEC DRAMA AS WELL OVER HIS
PREVIOUS TWEETS.
FROM THAT REPORT, WHAT WE KNOW
IS HE'S OFFICIALLY COMMITTED
WITHIN THE NEXT YEAR OR NEXT
YEAR WE SHOULD SAY THAT THEY
WILL HAVE FULL ON DEMAND TAXI
ROBOTS THAT WILL BE ABLE TO
COME.
THAT'S SOON.
I DIDN'T THINK THAT WOULD HAPPEN
THAT SOON.
I DON'T KNOW HOW HE CAN FOLLOW
THROUGH WITH THAT.
SEVERAL ISSUES LIKE YOU
MENTIONED A FEW ANALYSTS
DOWNGRADING THE STOCK.
YOU HAVE A LOT ON YOUR PLATE.
YOU NEED TO STAY CASH FLOW
POSITIVE.
STILL UNANSWERED QUESTIONS ABOUT
DELIVERIES, ABOUT DEMAND AND
THERE'S CONCERNS THAT DEMAND MAY
BE DROPPING.
IF YOU HAVE THIS ISSUE WHICH HAS
NOT BEEN VERIFIED YET IN CHINA.
SO I WANT TO SPECIFY THAT.
IT HASN'T BEEN VERIFIED.
THAT'S A HUGE MARKET, 20% OF
THEIR REVENUE.
IF YOU HAVE ONE CAR BLOWING UP
AND BURSTING INTO FLAMES, THAT
COULD DAMAGE THE BRAND.
DAVID: NOT GOOD.
>> ELON MUSK IS KNOWN TO SORT OF
TROT OUT THESE MIND BOGGLING
EVENTS AND ACCOMPLISHMENTS JUST
AS THEY ARE ABOUT TO REPORT A
TRULY HORRIBLE QUARTER.
SO IN FACT, THE REASON THE STOCK
AND SOME OF THE ANALYSTS MAY BE
SOMEWHAT NEGATIVE RIGHT NOW IS
MAYBE THEY ARE READING IT THAT
WAY BECAUSE FROM A LOT OF
DIFFERENT PERSPECTIVES THE
ACTUAL PROBABILITY OF THEM
HAVING A FULLY AUTONOMOUS
DRIVING CAR SEEMS EXTREMELY LOW.
NUMBER ONE, THE TECHNOLOGY, THEY
DON'T HAVE AROUND THE CORNER
RADAR INSTALLED ON THESE
VEHICLES.
IT DOESN'T SEEM LIKELY THAT JUST
A SOFTWARE PATCH IS GOING TO
REALLY MAKE THE DIFFERENCE.
THERE'S A LOT OF SKEPTICISM
ABOUT WHETHER THIS CAN ACTUALLY
BE ACCOMPLISHED.
AND BECAUSE OF THAT, THEY ARE
READING THIS AS BEING OH MY GOSH
SOMETHING TERRIBLE IS ABOUT TO
BE ANNOUNCED AND THIS IS ELON
MUSK'S WAY OF CAPTURING
EVERYONE'S IMAGINATION.
>> THE STOCK LOOKS A LITTLE
SICK, DOESN'T IT?
TO ME AS AN INVESTOR, I'M NOT AN
INVESTOR IN TESLA THANKFULLY I
THINK ALMOST THEY ARE CHANGING
THE STORY HERE.
THE REASON TO INVEST IN TESLA
USED TO BE WAS THAT IT WAS AN
ELECTRIC CAR; RIGHT?
IT WAS THE ONLY PURE PLAY FOR
YEARS AND YEARS AND YEARS, WHEN
EVERY OTHER MAJOR CAR
MANUFACTURER IS GETTING ON
BOARD.
THERE WAS A FASCINATING STORY
TODAY, TURNS OUT IN FACT THAT
TESLA'S E-CARS CAUSE MORE CARBON
THAN EVEN DIESEL CARS.
SO THE WHOLE JUSTIFICATION, YOU
KNOW, THE SOCIAL JUSTICE
WARRIORS HAD FOR BUYING TESLA IS
IT WAS SO ENVIRONMENTALLY
FRIENDLY TURNS OUT THAT'S NOT
THE THING.
MAYBE THE AUTONOMOUS DRIVING,
GOD KNOWS I'M NOT GOING TO GET
ONE OF THOSE CARS -- MAYBE IT
WILL SAVE THE COMPANY AFTER ALL,
GARY, WHAT DO YOU THINK?
>> I'M NEVER GETTING ONE OF
THOSE THINGS.
LOOK, THE ONLY THING CONSISTENT
ABOUT ELON MUSK IS HIS
INCONSISTENCY.
WALL STREET DOES NOT TRUST HIM
BECAUSE OVER THE LAST COUPLE OF
YEARS TIME AND TIME AGAIN HE
WOULD GUIDE WITH NUMBERS AND
MISS WITH THOSE NUMBERS AND
SOMETIMES MISS BADLY.
THEN YOU KNOW WHAT HAPPENED WITH
THE SEC.
THEN HE DECIDES TO SMOKE SOME
WEED ON VIDEO.
I MUST TELL YOU ANY OTHER CEO ON
WALL STREET WOULD HAVE BEEN OUT
ON HIS EAR FOR THE WAY HE'S BEEN
ACTING AND SOME OF THE THINGS
OUT OF HIS MOUTH.
AGAIN, WE HAVE SOME SEC ISSUES,
AND I JUST DON'T BELIEVE THE
NUMBERS THAT ARE COMING OUT, AND
MORE IMPORTANTLY, THE MARKET
DOESN'T BELIEVE IT.
IT IS ONE OF THE WORST ACTING
STOCKS VERSUS THE MARKET IN
2019.
AND DID NOT DO SO WELL IN 2018
EITHER.
DAVID: BOTTOM LINE IS THE SHARES
ARE NOW DOWN 20%.
THAT'S CORRECTION TERRITORY, FOR
THE YEAR.
20% DOWN.
BUT AGAIN, THERE'S STILL A LOT
OF TRUE BELIEVERS.
I THINK LIZ, THOUGH, MAKES THE
KEY POINT, WHENEVER THEY HAVE A
BIG PROBLEM, THAT'S WHEN A
DISTRACTION COMES IN.
WHO KNOWS WHETHER THAT SMOKING
THE JOINT WAS JUST A DISTRACTION
TO DISTRACT FROM THE BAD BASIC
NEWS THAT THEY WEREN'T PRODUCING
THE NUMBER OF CARS THAT THEY
WERE SUPPOSED TO HAVE?
>> I THINK LIZ ACTUALLY BROUGHT
UP ALSO TOO THAT THE
REGULATIONS, THAT'S WHAT WE'RE
MISSING TOO.
WE DONN  DON'T -- WE DON'T KNOW.
IF YOU WERE IN A DRIVERLESS CAR
AND A CAR HITS ME ON MY BICYCLE,
WHO IS RESPONSIBLE?
THERE ARE A LOT OF UNANSWERED
QUESTIONS.
IF YOU ARE COMMITTING TO HAVING
THIS OUT ON THE ROAD IN THE NEXT
YEAR, WE DON'T KNOW IF IT WILL
GO THROUGH, THAT'S A HUGE
COMMITMENT.
>> I THINK THE THING WE SHOULD
REMEMBER THOUGH IS THAT THE
TESLA IS A GORGEOUS CAR.
>> IT DRIVES NICELY.
>> THIS IS NOT INCONSEQUENTIAL.
HE HAS PRODUCED AN AMAZING CAR
THAT A LOT OF PEOPLE WANT TO
OWN.
DAVID: THE OTHER POINT WE HAVE
TO REMEMBER WHICH IS THAT
WHENEVER THERE IS A MAJOR
TRANSFORMATION IN TECHNOLOGY,
JONATHAN, YOU HAVE TALKED ABOUT
THIS, THERE'S ALWAYS QUESTIONS
ABOUT IS IT GOING TO BE SAFE?
WHO IS LIABLE?
I MEAN, THINK OF WHEN WE WENT
FROM -- TO THE HORSELESS
CARRIAGE.
THERE WERE ALL KINDS OF
QUESTIONS ASKED.
YOU SEE A FIRE IN CHINA, AND YOU
FORGET ABOUT THE FACT THAT THERE
ARE HUNDREDS OF FIRES IN REGULAR
CARS ALL THE TIME.
>> AREN'T YOU SKEPTICAL BECAUSE
IT'S CHINA?
I MEAN, YOU KNOW --
>> YOU CANNOT -- YOU CANNOT AS A
COMPANY COME OUT AND SAY WE'RE
GOING TO HAVE A MILLION OF THESE
CARS AND THEN ALL OF A SUDDEN IT
IS ONLY 200,000.
DAVID: THAT'S TRUE.
>> THAT'S THE BOTTOM LINE.
IT JUST CONTINUES TO HAPPEN.
DAVID: OKAY.
>> LOOK I AGREE THE GUY IS A
GENIUS, BUT HE NEEDS TO GET HIS
ACT TOGETHER.
>> HE'S JUST OVERPROMISING.
HE'S TAME IT DOWN A LITTLE BIT.
HE HAS A GOOD PRODUCT.
DAVID: MORE THAN A LITTLE
