The company's sales fell for a second year in a row, as Tesla looks to AI and robotics, including a new $2 billion investment in CEO Elon Musk's company xAI.

Poor Lonnie. May he cry himself to sleep on his MyPillow tonight.

  • panda_abyss@lemmy.caEnglish
    58·
    3 days ago

    I honestly don’t know how Musks companies work.

    Tesla makes cars. Cars don’t sell, so profit drops. Musk uses SpaceX to buy Teslas. Tesla’s profit declines, Musk says it’s an AI company, then buys AI from his other AI company, which he funded from Tesla stock. Musk buys Twitter, twitter goes down in value. Musk buys Twitter from himself using xAI, for higher than its market value, then boasts stock gains?

    So now Tesla is going to buy AI from himself, and build robots that were just pantomimed guys in suits… and somehow… profit???

    I don’t know what the fuck is going on in this world. But I would absolutely love to see Tesla’s stock drop and all of this made up debt-financing fall apart like the house of cards it is. However, Musk saying “we’re making robots now” seems to have nicely papered over what should be a massive stock decline. After his last one “Tesla isn’t a car company, it’s an AI company” now it’s “Tesla isn’t an AI company, it’s a factory company”.

    • midas22@lemmy.wtfEnglish
      1·
      3 days ago

      The Tesla stock is the biggest bubble we have ever seen. Short it on the market with the right timing and you will become filthy rich. It will crash, there’s no way they can deliver to this valuation ever… the only question is exactly when. It’s difficult to predict since it doesn’t follow any logical rules in the short term.

        • matlag@sh.itjust.worksEnglish
          2·
          3 days ago

          As much as I despise her (as much as the rest of that tech-bros lot), I still suspect she’s only seen jail because she was a young woman.

    • pastermil@sh.itjust.worksEnglish
      25·
      3 days ago

      It’s simple in its principal, really…

      • you have multiple companies
      • one company (A) have some supply for some product
      • on the other company (B), you create demand for that product (i.e. for its operation)
      • thus, under your control, you make company A and B enter a trade agreement
      • as someone who brokered that deal, you get rewarded (e.g. from brokerage fee, or commision)
      • sometimes, by having a massive increase in sales, the stock for company A would increase, thus you can sell a little bit of it, which you can later buy back after the stock price goes back down
      • profit

      Some facts:

      • even though they’re your companies, you are a separate entity from them, and they are each its own entity
      • the money comes from the investors as well as profit, remember that they are separate
      • no, you cannot just take all the companies’ money, since even though they’re yours, there are corporate structures and other people at stake preventing that

      So you basically come up with some excuse for moving stuff around, then you come up with some excuse to siphon off some of that good stuff.

          • MonkderVierte@lemmy.zipEnglish
            4·
            3 days ago

            If a real person would be held resonsible… Not even in finance but in breaking the law stuff. Companies only ever get a fine.

        • vaultdweller013@sh.itjust.worksEnglish
          41·
          3 days ago

          The reason why that was done was largely to keep debtors and investors from ripping apart a company and then transferring the debt to the ones running it. This would’ve been back when most large companies were trade companies wherein it made a lot of sense, since if the ship goes down you’re fucked regardless time to liquidate the company and payback who you can.

          The actual problem is the stock market since it creates fairy tale bullshit that allows Tesla to exist. Remove the stock market and the individual investments become a lot more risky and make bullshit stocks less likely to exist since all stock would be privately traded and their worth based off of company payout.

          • PolarKraken@lemmy.dbzer0.comEnglish
            4·
            3 days ago

            keep debtors and investors from ripping apart a company and then transferring the debt to the ones running it

            So instead we get “vulture capitalism” as an entire ecosystem of companies, doing this but with more diffuse consequences, by spreading out the bag holders far and wide (but always among the powerless). Fits like a glove with the general “privatize profits, socialize losses” strategy of wealth extraction we like so much.

            Corporate person-hood is a stain on humanity and the world. We should never have shifted culpability and direct experience of negative consequences away from human beings, ever.

    • Jack_Burton@lemmy.caEnglish
      1·
      3 days ago

      “Profits”. It’s all just Three-card Monte but “legal” since the laws don’t apply to the rich.

    • MagicShel@lemmy.zipEnglish
      111·
      3 days ago

      I rode in a Tesla last week. Some of the tech is better than what I’ve experienced in other vehicles. To be fair, a lot of the controls are way worse and key functions are buried in screens and menus that are difficult to find.

      I’ll never own a Tesla, but I do hope the always on wireframe view of everything around you comes to other vehicles. It’s way easier to see pedestrians and cross traffic in a parking spot on that screen than it is the 360 camera view on our new Traverse which is only available in reverse and for a few seconds after shifting to forward.

    • Hanrahan@slrpnk.netEnglish
      3·
      3 days ago

      Suower popular in Australia, lots of we Aussies are disappointingly Nazi adjacent :(

      Also very popular in Norway, Turkey etc etc

    • Signtist@bookwyr.meEnglish
      19·
      3 days ago

      I’ve been considering getting an electric car, and have been researching good models, and I can’t believe how many places are still recommending Tesla. I know the fediverse is far lefter than most other places, but I thought at the very least the general population had stopped trusting Musk and his scams.

      • AlecSadler@lemmy.dbzer0.comEnglish
        6·
        3 days ago

        I switched all my EVs over to GM-related products and, despite a variety of differences, some good some bad, I am overall happy and fine with the change.

      • paequ2@lemmy.todayEnglish
        2·
        3 days ago

        Hyundai Ionic 6 (sedan) or Ionic 5 (suv). I have the Ionic 6. It’s great! Even better than my old Model 3 because I can use Android Auto. AND I haven’t had the 6 reboot on me during highway driving.

        (My Model 3 once rebooted while I was driving on the highway.)

        • Signtist@bookwyr.meEnglish
          2·
          2 days ago

          Good to know, thanks! I’ve seen a lot of good things about Hyundai as well, though I do get concerned given how many issues I’ve had with my 2 Kias over the last several years. I was considering waiting to get an EV Corolla when they apparently come out in a year or two, but I also don’t know if I want to wait that long.

    • morto@piefed.socialEnglish
      24·
      3 days ago

      A lot of people are too alienated from everything, or can’t make relationships between brands and what’s behind them, because everything not directly visible in front of us is too abstract for them, and there’s those who are like “all brands are terrible, it won’t make any difference anyway”. Well, and there’s the nazi sympathizers…