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Zach chooses his words carefully, as a CFO should, and specifically cited revenue recognition based on WHAT the buyer was promised AT THE TIME THEY BOUGHT IT.
That entire phrase would make no sense but for the fact that Tesla has sold a different set of features as "FSD" at different times- exactly as shown in the screen shots from Teslas own website. The post 3/19 set of features is much easier to deliver, and thus the revenue from that (which by now is most buyers, given fleet growth/timing) will be recognized much sooner.
Buy at open?
Wait for the MMD?
Wait for Max Pain?
Wait for Monday?
(not) advice needed fast!
Max-pain @ 830.
So likely Monday before we see any upward action.
You may be right but the upward action is coming based on what we heard on the earnings call.
To summarize the earnings call, it was:
- Demand caught us off guard, and
- Margins improved, and
- new Capacity is coming on board, and
- we will continue to print money (ok - I made that last one up . . . .but it's true)
Tesla - 3 times the gross margins of GMCnbs can't even say a single bad thing about Tesla
Tesla is disruption. The automotive industry, the fossil fuel industry, every driver’s job, every auto repair job, every car sales job, every collision center job, they are all in jeopardy. All of this before Tesla’s full bore entrance into artificial intelligence and the insurance industrpies. Tesla is changing the world at an astonishing pace — the world is still trying to have its first cup of coffee. There is an old say amongst electricians, “you can unscrew a lightbulb, but somethings can’t be…unscrewed.
Tesla‘s breakneck innovation and ingenuity is creating shockwaves; the realization that the genie is out of the bottle. The die cast. I’m not implying anything negative, only that Wall Street is nowhere near acceptance. They have taken years to even begin to understand “Tesla.” Imagine how long it will take them to understand and accept complete disruption.
Thanks - welcome . . .please feel free to comment on other aspects of Tesla.i have been lurking for years & have read most of your posts since then, accountant. i was going to start posting around the time curt renz was being blasted here for his positive opinion on gary black. if i recall correctly, gary exited his position only to re-buy @ $550-$600 and was given substantial grief for trading his shares in this manner. i hold gary black's views in high regard & thought about posting then, but i was just too busy to participate fully. i have some bullish opinions re: tsla that i will post about this year. but to answer your question, i find the tsla super bull echo chamber quite annoying. i love tsla, but i also love reasonable, informed discussion. the cummings appointment & the ridiculous echo chamber reaction got me to start posting.
When on stage at the Berlin Fair, you could see that Elon wanted to say something about the low priced model and had to catch himself. He said something like, "we shouldn't comment on cars that are not yet scheduled for production" but he clearly had some information he could have shared and almost shared.Only thing I got caught off guard was the 25K car and battery constraint. ...
R&D center complete.
CATL building battery lines near Shanghai GF
even SR M3 using Lithium Iron Phosphate
So I think they already have a plan and we will see the Model Q on time.
+ I think MoC (master Of Coin) taught the TechnoKing how to sandbag
MoC replies were so crisp and on topic.
As previously discussed here on Aug 29th, Tesla has confirmed that the new building in the NE corner of the Giga Shanghai plot is indeed the new China R&D Center: (image extracted from TSLA-Q3-2021-Quarterly-Update.pdf)
View attachment 723820
Cheers!
I used to think that getting the legacy automakers on board with EVs was essential. Earlier in Tesla's history, it was thought that perhaps Tesla's primary contribution would be to stimulate the larger car companies to manufacture EVs. Indeed, the Roadster helped motivate the development of the Chevy Volt and the Nissan LEAF.
Now, however, I'm thinking that mass EV adoption is possible if Tesla and newer upstarts (Chinese companies, Rivian, Lucid, etc.) simply bury the legacy companies. Tesla's ability to scale is only getting better. Perhaps Tesla could be producing many more than 20 million vehicles per year by 2030.
Do itBuy at open?
Wait for the MMD?
Wait for Max Pain?
Wait for Monday?
(not) advice needed fast!
In case you missed it, its official now: Tesla China's new R&D facility is on the grounds of Giga Shanghai, in the NE corner. Its no coincidence that there are big earth works going on in the empty lot immediately to the East of the R&D Center. This could very well be the site of the Model 2 (Model 二) factory, which will have engineers and designers conveniently located right next door.
Tesla’s R&D center for its $25k electric car is complete
Tesla’s Q3 2021 Update Letter included several critical tidbits about the company’s ongoing projects across the globe. But amidst the wealth of information provided in the document, Tesla also included a small yet notable update of sorts from the Gigafactory Shanghai complex. The R&D center...www.teslarati.com
Ray4Tesla on Twitter: "Massive engineer/technician hiring is underway for Tesla R&D Center, offering over 100 job titles in 7 categories: 1/greater R&D Engineering 2/vehicle software 3/vehicle engineering 4/hardware design 5/powertrain&energy 6/material engineering 7/R&D recruitment. TBC https://t.co/bljosh5pHL" / Twitter
Cheers!
If we apply Occam's razor to Zach's comments:
In the past, we had EAP and FSD. At that time, we made different commitments for the FSD product vs now
As for level 4, it's silly to think Tesla would provide an unrestricted level 4 feature for $3k
Level 4 entails:
1) No one in driver's seat; a blind person can sleep in the back seat.
2) Tesla takes liability for any issues (car gets stuck) or accidents.