Does Elon Musk's Latest Move Mean Tesla Is Doomed?

Motley Fool2022-06-30

KEY POINTSOn Tuesday, Tesla reportedly laid off more than 200 people working on its Autopilot software and shuttered a facility in California.Musk has called full-self driving essential to Tesla's ...

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Comments

romanc9
2022-06-30
romanc9
If it is required to cut workforce to reduce cost for the time being and the CEO said so means it is necessary. Not that he stop the project. Maybe the cut are to cut those getting redundant.. His foresight is quite sharp had to take my hat for him.
CIG
2022-06-30
CIG
Buying 1 share of Tesla or USD 700 of Bitcoin, which one will hit USD 3000 first?
Jason_LSE
2022-06-30
Jason_LSE
Musk is no doubt a genius. As long as he stay focus and not get distracted by the nonsensical stunts, Tesla & Space X ..etc.. will do well.
Remotecam
2022-06-30
Remotecam
Elon's job as CEO is not to be liked or loved. It's calculating all the inputs and making sure the output is able to pay for it. Unless the giga cash burning factories start turning around to at least break even, Tesla indeed can run into a wall very quickly. Especially if recession hit customers in Europe, US and China stop buying cars. His genius brain has calculated all the odds and it's not looking good.
Sravan588
2022-06-30
Sravan588
K
小虎一飞冲天
2022-06-30
小虎一飞冲天
Like pls

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The affected team was responsible for processing and labeling customer vehicle data.Last week, Musk confirmed Tesla was in the process of cutting about 10% of its global white-collar staff, arguing that the electric vehicle manufacturer had grown too fast and was now overstaffed. These cuts appear to be a small part of the overall engineering effort inside the company, but they come at a key moment in Tesla's effort to perfect fully autonomous vehicles.Could Tesla be worth \"basically zero?\"Musk has long-championed the concept of autonomous vehicles, in 2019 calling Tesla vehicles \"appreciating assets\" because of his confidence that Tesla owners could one day deploy their vehicles as robotaxis and make money on the cars instead of leaving them in parking lots.In an interview with a Tesla owner group earlier this month, Musk said it was \"essential\" for Tesla to produce full self-driving technology, calling the tech \"the difference between Tesla being worth a lot of money or worth basically zero.\"Although Tesla is the sales leader in electric vehicles, the company faces more competition now than at any time in its history. Incumbent automakers including General Motors and Ford have made electric vehicles a priority, joining newcomers including Lucid Group and NIO in bringing rival vehicles to market.Tesla's self-driving technology is seen by company bulls as a major competitive advantage. Cathie Wood's Ark Invest earlier this year said Tesla's stock could be worth as much as $4,600 per share -- more than six times its current price -- by 2026, assuming robotaxis are in service by then.Ark believes Tesla could generate more than $450 billion in annual revenue from its nascent robotaxi business.Is Autopilot veering off course?The layoffs also come at a time when Autopilot is under increasing regulatory scrutiny. Last October, the head of the U.S. National Transportation Safety Board (NTSB) called Tesla's marketing of the driver assistance software \"misleading.\" More recently, the separate National Highway Traffic Safety Administration upgraded a probe into Tesla's systems ahead of a potential recall or new limits on how the system is used.Tesla's systems, unlike most of its rivals, forgo radar and other depth perception technology, relying instead on cameras to feed its AI and keep the vehicle on the road. The team that was reportedly let go on Tuesday was responsible for helping to train and refine Tesla's AI.Tesla investors need this tech to workTesla delivered more than 936,000 vehicles in 2021, and as an automaker has never looked more stable in its history. However, the stock price and the health of the business have always been somewhat disconnected, and investors should be watching the developments of Autopilot closely.Although it seems unlikely Musk is correct and Tesla's value could drop to near zero, as an automaker Tesla is valued significantly higher than the competition. Tesla trades at more than 21 times its book value, while both Ford and General Motors trade at little premium to their book values.As Ark's model notes, Tesla commands that valuation based on its technological prowess, not its ability to manufacture cars.Musk deserves credit for trying to streamline Tesla ahead of a potential economic slowdown, and has earned the benefit of the doubt over his years running the company. But for the valuation to hold up, Tesla will have to show progress toward autonomous driving in the quarters to come.Investors need to hope Musk isn't cutting too deep, or in the wrong places, or his words of warning could become a self-fulfilling prophecy about the stock price.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9045116424,"gmtCreate":1656576449468,"gmtModify":1676535856780,"author":{"id":"4102495020619380","authorId":"4102495020619380","authorIdStr":"4102495020619380","name":"romanc9","avatar":"https://static.tigerbbs.com/76bfe37245defa055adfff7453f1520f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"idStr":"4102495020619380"},"htmlText":"If it is required to cut workforce&nbsp; to reduce cost for the time being and the CEO said so means it is necessary. Not that he stop the project. Maybe the cut are to cut those getting redundant.. His foresight is quite sharp had to take my hat for him.&nbsp;","listText":"If it is required to cut workforce&nbsp; to reduce cost for the time being and the CEO said so means it is necessary. Not that he stop the project. Maybe the cut are to cut those getting redundant.. His foresight is quite sharp had to take my hat for him.&nbsp;","text":"If it is required to cut workforce to reduce cost for the time being and the CEO said so means it is necessary. Not that he stop the project. Maybe the cut are to cut those getting redundant.. His foresight is quite sharp had to take my hat for him.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045116424","repostId":2247932011,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9045134457,"gmtCreate":1656575207479,"gmtModify":1676535856636,"author":{"id":"3583974841960176","authorId":"3583974841960176","authorIdStr":"3583974841960176","name":"CIG","avatar":"https://static.tigerbbs.com/6c2077e2370e1ffcaca7e29b875be2be","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3583974841960176"},"htmlText":"Buying 1 share of Tesla or USD 700 of Bitcoin, which one will hit USD 3000 first?","listText":"Buying 1 share of Tesla or USD 700 of Bitcoin, which one will hit USD 3000 first?","text":"Buying 1 share of Tesla or USD 700 of Bitcoin, which one will hit USD 3000 first?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045134457","repostId":2247932011,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9045135092,"gmtCreate":1656574709017,"gmtModify":1676535856585,"author":{"id":"4095252946433820","authorId":"4095252946433820","authorIdStr":"4095252946433820","name":"Jason_LSE","avatar":"https://static.tigerbbs.com/60e2530d54f2a0d278bad7b3284cdef5","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4095252946433820"},"htmlText":"Musk is no doubt a genius. As long as he stay focus and not get distracted by the nonsensical stunts, Tesla &amp; Space X ..etc..&nbsp;will do well.&nbsp;","listText":"Musk is no doubt a genius. As long as he stay focus and not get distracted by the nonsensical stunts, Tesla &amp; Space X ..etc..&nbsp;will do well.&nbsp;","text":"Musk is no doubt a genius. As long as he stay focus and not get distracted by the nonsensical stunts, Tesla & Space X ..etc.. will do well.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045135092","repostId":2247932011,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9045343454,"gmtCreate":1656566452979,"gmtModify":1676535855553,"author":{"id":"4093854476996450","authorId":"4093854476996450","authorIdStr":"4093854476996450","name":"Remotecam","avatar":"https://community-static.tradeup.com/news/f856a0a30bd0fa23a086fc678014e48b","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"4093854476996450"},"htmlText":"Elon's job as CEO is not to be liked or loved.&nbsp; It's calculating all the inputs and making sure the output is able to pay for it.&nbsp;Unless the giga cash burning factories start turning around to at least break even, Tesla indeed can run into a wall very quickly. Especially if&nbsp;recession hit customers in Europe, US and China stop buying cars.&nbsp;His genius brain has calculated all the odds and it's not looking good.&nbsp;","listText":"Elon's job as CEO is not to be liked or loved.&nbsp; It's calculating all the inputs and making sure the output is able to pay for it.&nbsp;Unless the giga cash burning factories start turning around to at least break even, Tesla indeed can run into a wall very quickly. Especially if&nbsp;recession hit customers in Europe, US and China stop buying cars.&nbsp;His genius brain has calculated all the odds and it's not looking good.&nbsp;","text":"Elon's job as CEO is not to be liked or loved. It's calculating all the inputs and making sure the output is able to pay for it. Unless the giga cash burning factories start turning around to at least break even, Tesla indeed can run into a wall very quickly. Especially if recession hit customers in Europe, US and China stop buying cars. His genius brain has calculated all the odds and it's not looking good.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":18,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045343454","repostId":2247932011,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9045343348,"gmtCreate":1656566397685,"gmtModify":1676535855537,"author":{"id":"4112498644363612","authorId":"4112498644363612","authorIdStr":"4112498644363612","name":"Sravan588","avatar":"https://community-static.tradeup.com/news/1c7d788f6d515483e0af8a2cb2ce0a94","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4112498644363612"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045343348","repostId":2247932011,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9045340025,"gmtCreate":1656566092568,"gmtModify":1676535855503,"author":{"id":"3582098623642517","authorId":"3582098623642517","authorIdStr":"3582098623642517","name":"小虎一飞冲天","avatar":"https://static.tigerbbs.com/1a55a61195830e019abf5d3cc69681b9","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3582098623642517"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045340025","repostId":2247932011,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":159,"commentSize":19,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.27.0","shortVersion":"4.27.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2247932011"}