Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[wooter]

What AI programmer is leaving Tesla because of an email? Where are they going?

Recently Apple's director of machine learning left because of Apple's move back to the office.

Also very convenient that this stricter policies happen after Tesla's head of AI just returned from a sabbatical.

I understand getting leaner, but I've seen it multiple times over the years that companies need to cut headcount, have lists ready of underachievers that need to go, but they need to keep them because a few rockstars head on to greener pastures themselves.

The mission is nice and all, but at a certain point you want to get paid and have a family life, and the resume has Tesla on it.

Obviously, Tesla will survive this, but doing this in a hot job market is awesome for recruiters.

Think about it: it's the rockstars that can have any job. It's the ones in golden cages that can't go anywhere and just stay.

 

[elasalle]

Real:

https://twitter.com/x/status/1532742927302250496

wow #1 has Ford notes in his pocket

 

[brantse]

That's really sad that our POTUS is acting like a 6 year old bully. His bias is certainly not helpful for this country.

 

[bro1999]

Can someone activate Ludicrous mode for $TSLA by 4PM today? Would appreciate it. Thanks!

 

[bkp_duke]

"Lots of luck on his trip to the moon." - Biden

Elon doesn't forget. Remember the stuff he's tweeted back to Russia's Space group in the past after thoroughly embarrassing them in rocketry? I can't wait to see what he does here.

 

[kabin]

The POTUS dig about union jobs and the moon will surely require an entertaining Elon response.

 

[Chenkers]

An Electrek report clarifying Elon's comments in the all staff email (10% only salaried staff) is now getting picked up by Bezinga and appears in my broker news feed. Let's see if this helps the share price.

 

[TheTalkingMule]

Recently Apple's director of machine learning left because of Apple's move back to the office.

I meant a real world picture of someone leaving Tesla.

The mission is nice and all,

Yeah.....that's not really the vibe we're going for.

 

[Sofie]

The good part is that Biden now suddenly seems to know that Tesla exists. Except that it’s not Tesla that wants to send people to the moon.

Wrong planet lol!

 

[Curt Renz]

From my brokerage's newsfeed:

CFRA MAINTAINS STRONG BUY OPINION ON SHARES OF TESLA, INC.​

11:56 am ET June 3, 2022 (CFRA)
We lower our 12-month target by $150 to $1,200, based on a '24 P/E of 80x, justified by TSLA's long-term growth potential. We lower our adjusted EPS estimates by $0.90 to $10.85 for '22, by $0.40 to $13.60 for '23, and by $0.25 to $15.00 for '24, mainly to account for weaker near-term volumes from its Shanghai factory. Reuters is reporting that in an email to executives, Tesla CEO Elon Musk has implemented a hiring freeze and a suggested cutting 10% of jobs, stating ominously that he has a "super bad feeling" about the economy. The timing of the email is somewhat odd, as Tesla is in the process of ramping up production and hiring at its new factories in Austin and Berlin, but we think Musk wants to get ahead of the curve in terms of a slowdown across the highly cyclical auto industry. We think most of the job cuts are likely to take place in Shanghai, as China's zero Covid policy has weighed heavily on productivity. TSLA remains our top pick among auto manufacturers, noting its 246% Y/Y earnings growth in Q1.

 

[elasalle]

Added 2 Aug 1K calls for ~ $16.50 each ... SP was @704 ..and I was hoping 700 would also provide a floor
(don't plan to keep it for more than 2-3 weeks ....)
(+ lottos always small and OK to lose, but possibility of big gains ...)

(+ can we head back to max pain pls )

 

[Todd Burch]

10% across the board is completely different from what Elon's intentions seem to be .... wow ... F*&K Wall Street ....

While I certainly agree with this sentiment, in this case I think the media/journalists are more to blame in this particular case. (And maybe Wall Street a bit for having such an intense knee-jerk reaction.

It's like Wall Street still thinks Tesla's success thus far has been luck, and their coffers are going to dry up.

We all just need to be patient to let things play out--the Rob Maurer approach, I think . When Wall St starts seeing continues to see the cash pile up in Tesla's piggy bank, the fear over their execution should subside, and nonsense like this should have less of an impact.

But for now, those Wall Street folks need to hit their options targets...

This is not a scenario for blaming Elon---his email was internal, and his motivations are for keeping Tesla lean and efficient. Good management. Blame this on the executive or manager that clearly shared internal info, and the journalists that ran with it irresponsibly.

Could have been better for Elon to front-run it, but it is what it is.

 

[TheTalkingMule]

Can someone activate Ludicrous mode for $TSLA by 4PM today? Would appreciate it. Thanks!

Does a $749 close count as Ludicrous Mode? We'll probably wedge our way up to there by 4pm now that the story is clarified. Everybody wins.

And by "everybody" of course I mean Ken Griffin.

 

[lafrisbee]

Well, they won't do it, but if Elon wanted to start another epic 5-part trilogy, it could be here. Since we know May sucked in China, but perhaps was a record at Fremont and had an ever-increasing number from Austin, what if they released some short statement that read something like, "Tesla's US May sales rose 27% year over year (making that number up), the only major automaker in the US to record an increase (not giving Genesis major automaker status yet)." Maybe part 2 is details on stock split, part 3/4 are when Berlin/Austin hit 1,000 cars/day production, and part 5 is FSD v11 release (really dreaming here).

Oh please...

bwah? bwahah....?
BWAHAHAHAHAHAHHAHA
" 5-part trilogy"!

 

[JRP3]

"Lots of luck on his trip to the moon." - Biden

Elon doesn't forget. Remember the stuff he's tweeted back to Russia's Space group in the past after thoroughly embarrassing them in rocketry? I can't wait to see what he does here.

Let's not forget Elon has said much worse about him just because he didn't mention Tesla. Elon chose to go the route of personal attacks.

 

[evermore]

The "TESLA" logo written out in solar panels is beautiful, but it does seem like a huge waste of space. They could cram way more panels on the roof without it. Add some megapacks and Giga Texas is it's own utility.

The logo is inverted, so most of the roof will be covered with panels and the logo will be white.

https://twitter.com/x/status/1532741436554215424

 

[bro1999]

Does a $749 close count as Ludicrous Mode? We'll probably wedge our way up to there by 4pm now that the story is clarified. Everybody wins.

And by "everybody" of course I mean Ken Griffin.

That should suffice!

 

[Todd Burch]

From my brokerage's newsfeed:

CFRA MAINTAINS STRONG BUY OPINION ON SHARES OF TESLA, INC.​

11:56 am ET June 3, 2022 (CFRA)
We lower our 12-month target by $150 to $1,200, based on a '24 P/E of 80x, justified by TSLA's long-term growth potential. We lower our adjusted EPS estimates by $0.90 to $10.85 for '22, by $0.40 to $13.60 for '23, and by $0.25 to $15.00 for '24, mainly to account for weaker near-term volumes from its Shanghai factory. Reuters is reporting that in an email to executives, Tesla CEO Elon Musk has implemented a hiring freeze and a suggested cutting 10% of jobs, stating ominously that he has a "super bad feeling" about the economy. The timing of the email is somewhat odd, as Tesla is in the process of ramping up production and hiring at its new factories in Austin and Berlin, but we think Musk wants to get ahead of the curve in terms of a slowdown across the highly cyclical auto industry. We think most of the job cuts are likely to take place in Shanghai, as China's zero Covid policy has weighed heavily on productivity. TSLA remains our top pick among auto manufacturers, noting its 246% Y/Y earnings growth in Q1.

LOL this is so wrong. here's an example of CFRA now pushing out what is now confirmed as incorrect information, and basing a price target on it?!?!?! WTF.

This is a consequence of the 24-hour news cycle that we live in. People have to react immediately without getting all the facts.

1. 10% of salaried workers, not 10% of all.
2. Tesla does NOT have a hiring freeze. At all. He explicitly says hiring of manufacturing workers will continue.
3. I doubt Tesla wants to get rid of Shanghai people. The Chinese are clearly showing that they are highly productive.
4. The impact of Shanghai on annual numbers is miniscule. Well within the margin of error of the Berlin and Austin production ramp speed, which actually looks like it may be ahead of many expectations.

This will all blow over by next week once people recognize that this info is wrong.

 

[GrandEnigma]

It still baffles me how people can live a life of such negativity, how unhappy do you have to be with yourself to be so pessimistic?

 

[Bobfitz1]

Regular laying off the worst 10%, followed by new hiring is excellent management policy pursued by Tesla in the past. Happened at SpaceX in 2019 SpaceX laying off 10 percent of its workforce - SpaceNews.

People got lazy during covid. They need to be jump started. Companies that do that will prosper. Others, like Apple, that pander to the lazy ones, will slowly wither.

This is very bullish.

Right. CEO Jack Welch trimming the lowest 5 or 10% of employees from General Electric worked out great for that company and its stockholders.

Interviews with ex Tesla employees who left after working flat out for x years doesn't jibe with 10% of employees sitting on their hands or underperforming. Plus Tesla has been hiring the best, brightest and most motivated engineers from the start.