Musk: Teaming up with SpaceX, Tesla's new sports car can fly! It will be unveiled next year as soon as possible!
Musk said that the biggest impact on the world will be Robotaxi. Although the roadster sports car is not very practical, it is very cool. It is a joint effort between Tesla and SpaceX, which is a bit like combining rocket engineering with Tesla electric vehicle engineering.
On the 29th, Musk connected to the live event of the Tesla Silicon Valley Owners Club (X Takeover) and was interviewed live.
In the interview, Musk introduced some of the products investors are most concerned about, the full popularity of FSD, the latest developments in SpaceX, and the humanoid robot Optimus. He revealed that the new Roadster sports car is being jointly developed by Tesla and SpaceX and is expected to be unveiled next year.
Among them, regarding fully automated driving (FSD), Musk said that the latest FSD version 12.5 has greatly increased the number of parameters, making the system more accurate and efficient when processing real-world data.
Musk said that the SpaceX team is continuously improving the design and performance of the interstellar spacecraft, with the goal of achieving greater reliability and safety in future missions.
The main points of the full text are summarized as follows:
1. The new Roadster sports car was jointly developed by Tesla and SpaceX and is expected to be unveiled next year. 2. It is expected that the cost of Starlink terminals will be further reduced, enabling more people around the world to connect to the Internet. 3. Tesla will continue to launch new hardware, such as hardware 5, to further improve the performance of autonomous driving systems. FSD 12.5 will be released in August. 4. The cost of humanoid robots is expected to be reduced to a level similar to that of a car. Tesla plans to launch a new generation of Optimus later this year and gradually bring it to the market. 5. Robotaxi will have a huge impact on the world. However, Musk declined to reveal the timing of the release. 6. Retail investors have played an important role in promoting Tesla's development. 7. Out of his love for dogs and emojis, Musk prefers Dogecoin, but he insists he won't promote any cryptocurrencies.
Starship 5: recycling and insulation are key
X Takeover:
Let's get straight to the point. Can you share Eddie's situation with us? We know that in the next week or two, Starship 5 will begin. What are your biggest concerns? What does success look like to you?
Elon Musk:
From the perspective of when the space station will be ready, it will probably take 2 to 3 weeks, but that depends on when we get our FA license. So I'm guessing it could be the end of August or the beginning of September at the earliest, depending on how quickly the FA grants the license.
X Takeover:
What does success look like to you? I know people use chopsticks to measure. Is this still the goal? Is this how successful SpaceX's next Starship 5 launch looks like?
Elon Musk:
Okay, we want to seize Mecca, the booster in the giant Mecca Siren, which sounds a bit crazy. Because it's the largest planned object ever. So, using a giant robotic arm to grab it and take it from the sky is pretty crazy. But I think it has a pretty good chance of succeeding. You may need to kick the can a few times before it really works. But we didn't break the physics. So success is one of the possible outcomes here.
We do want to try recycling boosters. We were able to achieve a soft landing in the ocean or C-class during our last flight. in the water. Yes, that's cool. So I think people have probably watched the live video from the landing to the splash. Then the other thing we wanted to achieve was obviously a stronger heat shield.
Last time our spacecraft did reach the Pacific Ocean, or a bit like the border between the Indian Ocean and Pacific Ocean. It's really like an engine, and the shift actually achieved a soft landing, but we lost a lot of insulation tiles. So the ship actually made a soft landing, and it splashed all the way due to the loss of the tiles. This is just amazing. It didn't reach the exact right location in April. So due to reduced control, I think it's about 6 miles from the landing site. We wanted the insulation to be in perfect condition and have complete control. It's not just about landing gently into the sea, but in the right place.
Landing is the hardest part because the spacecraft has a heat shield designed to survive entry rather than evaporate. It landed unscathed. So we need to make sure that the spacecraft's heat shield is very reliable and can be navigated to a very accurate landing position, because if it dissolves in SE, debris could hit populated areas and damage property or people. We need to make sure that the spacecraft's insulation is very strong and that it lands in the right position.
Before we try to bring the spacecraft back to the launch site, I think we'll have to land the spacecraft successfully at least three times. This time, the parts of the spacecraft have been greatly upgraded. It's at least twice as good as last time, and in some cases even a lot better. There is also an auxiliary heat shield behind the main heat shield. So this is probably a longer explanation than you'd like. This is what we want to achieve. I think we might have a 50% chance to grab the booster, then maybe more than 50%, maybe 60%, 70%. The spacecraft's insulation cover remains intact during the upcoming flight, assuming there are no other issues.
Starlink is easy to install and use, and the cost could drop to a few hundred dollars
X Takeover:
One thing I'd like to mention is that X's acquisition was actually carried out through Starlink. So all the work SpaceX does is done through Starlink.
Elon Musk:
No, we'll set up Starlink here too.
X Takeover:
Starlink connects to Starlink.
Elon Musk:
Yes, I'm also testing to delay funding. So I like to use it interchangeably between the main delay antenna and the money delay antenna. To be clear, delaying multiple antennas is not as good as a normal antenna because it has a smaller antenna. Its antenna area is not as large as a normal antenna. So delayed funding isn't exactly the same as another; it's just smaller.
It's like you gave up a bit of antenna area, but it's extremely portable. It may weigh a quarter of an average device, but it has only half the bandwidth of a normal device. So it's good. It's kind of like, it doesn't use electricity. Its wait rate is pretty high. You can put it in your backpack and take it anywhere you want. I think it's perfect as a backup device for emergency services. So in fact, many job responders and emergency service workers are considering owning it because it's easy to install on vehicles. In fact, I know someone put it on a Tesla and it's pretty cool.
X Takeover:
They're parked in the truck here. Kudos to Teslatino and a few others.
Elon Musk:
Yes, Sonic is particularly popular because it's so portable and easy to place. It's perfect for emergency services, or if forest fires, floods, natural disasters disrupt terrestrial fiber and cell phone towers, then you can still use Starlink to access the internet.
X Takeover:
So what would you do, Elon, we're in a Starlink community marketplace. Two thumbs up. Good reviews. What do you think of it?
Elon Musk:
It's good. You know, it's a new product, so we're just fixing a few minor issues here and there. But so far everything is fine. It looks great. I think it's going to be a bestseller. And manufacturing costs are lower. So, in my opinion, this means that the cost of the terminal could eventually drop to around a few hundred dollars, which makes it accessible to people. In many parts of the world, more expensive terminals cannot be bought. So it should be something most people in the world can afford.
X Takeover:
Well, I can't wait to go to the selfish part of South Padre Island to report live with Starlink Mini. Starlink's accessibility is incredible. You can go anywhere in the world, and in some of the most remote places, knowledge gaps are no longer an issue. Even using the Starlink Mini to make it more accessible is crazy.
Soon, back to Starship 5. Starship 4 happened. I saw it, I livestreamed it at Islablanca Park. Then, I even visited the interstellar factory, and what you did at the interstellar base was incredible. You iterated and made instant changes so fast, and every day went by, it felt like you had spent a century somewhere else because you've changed so much. In addition to the heat shield, what other major discoveries have you made in the starship launches you have carried out and prepared for the upcoming launch?
Elon Musk:
It changes from flight to flight. There are hundreds of changes on both the spaceship and the booster. Many of these changes are small, but when added up, they are significant changes for us. So you're the second one. So if you add up the changes in spaceships, boosters, and launch sites, there are actually thousands of changes between flights.
So you let SpaceX's talented team work on Stage 0, the launch site and Stage 0, is that as important as Stage 1 or Stage 2? I think the first stage is a booster, and the second stage is a spaceship. So the quality will be huge, and many things will be there. If I go into details, people will say, I don't know what you're talking about. Most people only need to install a small valve here, replace a line here, and make a series of software adjustments. So, there are a bunch of things that aren't as easy to describe as upgrading a heat shield.
There will be an even more significant change in the few flights from now on. I think it's the 7th spaceship, and we moved the front to the rear. This story bothers me because we initially made a mistake when designing the spaceship, which was to make the front part symmetrical to the back, and the front part was 180 degrees. You really want the front part to be on the back side of the wind. Maybe if you don't know, then it's pointless.
The steering gear itself is like a skydiver, and the forefoot is like a hand, arm, and leg. So it's very different from an airplane. Then forward, you really don't want a visible stream of airflow forward. Because you're really trying desperately not to let the engine run on the side. Spin forward and enter the hot plasma. So, I think with the 7th gear, four got smaller. They're spinning back a bit. They change positions. Not 180 degrees, but 150 degrees. So these four are actually just using trim.
So basically in a nutshell, they're smaller, lighter, and payload improvements. Then you can continue. By improving the insulation cover, the key performance of the engine will be better, so we can run the engine with higher thrust and be more reliable. Then the real big change could be next year or so, us. Remove the bottom heat shield and spaceship. Heat shield. Engine side heat shield. So the engine doesn't need to be packaged in the next major modification, which is quite tricky. But that would remove a lot of mass from the bottom of the aircraft and the bottom of the spacecraft. However, with the spaceship mounted in a booster, both would be lighter and the engine would be stronger.
Now, that's a technical detail for a lot of starships. The payload will also easily exceed 100 tons, entering a useful orbit. It's 100 times more useful, and it's completely reusable. The return of the booster in the spacecraft to the launch site means orbital cost per ton, which is about 100 times less than in the past. This is what makes life surpass the Earth. Egypt has built a self-sufficient city on Mars that will maximize the lifespan of consciousness, a few thousand years, I think.
X Takeover:
But there's one incredible thing about you, Elon, and that's how well you know the details. I don't think I've ever seen a company leader so in-depth in detail, and it's amazing that you can rise above and below. But one thing I noticed about you is that you're highly involved in everything you do, and you can both start from a bird's-eye view and dive into the details.
Elon Musk:
Um, I mean, I'm responsible for the company's engineering design. So this is relatively unusual. I think an important reason for the company's success is that I understand engineering. I know when someone is good at engineering or design, I like my judgment. So, in terms of actually having the most talented people and giving them the most responsibility. If you really don't understand engineering, how can you tell if someone is a good engineer? So this is really important. We're a very talented team, but in order to know if someone is talented, you also have to know engineering.
Optimus is an intelligent robot with arms and legs
X Takeover:
Elon, let's change the subject and talk about Tesla.
X Takeover:
Now, X buys, but we're now buying Tesla all over the world.
Elon Musk:
Very cool. BTW, thank you all, I just wanted to say thank you so much for your support. Thank you very much. Thank you.
X Takeover:
I just bought a Tesla in 2018 and started driving it, and I couldn't believe it was so much fun. There's also fake news, especially in the Bay Area. So, yeah.
Elon Musk:
You know, this has always been the case.
X Takeover:
Join this community and create these epic events. Yes, Elon. Obviously there are plenty of Tesla fans here, as well as SpaceX, but as far as Tesla is concerned, can you give us any updates on future models? Obviously, robot taxis. Next, I can't do a full product launch.
X Takeover:
When X takes over the pipe. Just kidding.
Elon Musk:
I mean, I think I've tried many of the things we've said on earnings calls or receptions. I shared my thoughts on the earnings call. But the most important thing is to achieve unsupervised, fully autonomous driving. This is really profound and I hope many of you will get a chance to use 12.5 or at least 12.3.6. Tesla's artificial intelligence team consists of several hundred people. It's not a huge team. There are only a few hundred super talented engineers.
I want to emphasize that. That's obviously a lot more than me, and it's hard to recognize 200 people. But I want to emphasize that there are actually over 200 people responsible for fully autonomous driving software. Then we have a great chip design team because you need a chip to design, and the chip needs to run on something. Tesla AI chip. Hardware 3 and 4, followed by upcoming hardware 5, are likely to go into mass production in 2026.
This is a fantastic chip team. Then we also have a great training cluster team. Running a large video training cluster is actually quite difficult, and it requires a lot of skill and a lot of work. The team works 24/7 to build the southern extension of the gigabit factory in Austin. I just spoke to the team last night and the main progress in installing the server was good. But things aren't as simple as buying video cards, plugging them in, and they start training.
This is not the case. This is actually very difficult. If you have a large Nvidia training run or any kind of large training run, the power fluctuations are unlike anything you've seen anywhere else, because the GPUs are running with extreme accuracy. Like a symphony, this actually causes electrical difficulties, like an electrical nightmare because when the GPU goes up, the power goes up, and when the GPU goes down, the power drops. This can happen at intervals of 100 milliseconds. This is actually quite a difficult thing.
X Takeover:
It's almost a performance.
Elon Musk:
It's kind of like a light show. To get these dramatic changes in power consumption, when you have 50 megawatts, it can drop from 15 megawatts to 20 megawatts, 100 ms, which is very unusual. So it's actually quite a challenge. Kudos to the Tesla team as you are building and operating a training center. It takes a lot of puzzles to complete. We have a lot of data and input it into the training system.
The end result is that it's really starting to get pretty noticeable. I think it's 12.5. As I've publicly mentioned, we've increased the number of parameters by a factor of 5. You can't simply add parameters unless those parameters are useful and done the right way. This actually has to make the parameters correct; every parameter is a number, but the numbers must be correct. Artificial intelligence is trying to effectively compress reality. We're shooting all these videos to try to understand reality and compress it to a few gigabytes. I also think it will expand steadily. I'll probably hit 20 gigabytes soon, but we're trying to compress reality into a few gigabytes. It's very difficult. The inference computers in our cars are much weaker than the GPUs at the center of the server. It's only about 15% to 20% of its power.
So, if your reasoning computer is relatively weak, then you must put more effort into training to make up for the shortcomings of the reasoning computer. But it's working. I think it's really working.
X Takeover:
Speaking of the light show, Elon, I just wanted to thank you for retweeting and sharing our X Takeover light show. Thank you very much. Of course. So I want to talk about battery technology. What advancements are you most excited about when it comes to battery technology? How will they affect Tesla's array of inefficiency characteristics?
Elon Musk:
I think it's important to note that even without a battery breakthrough, I think you can electrify all road transport. All roads and transport vessels can be electrified, even without any improvements in battery technology. This is probably an important point to be aware of. Now battery technology will improve, but even without it, you can electrify all of the plane's ground and water transportation. You really need improvements in energy density, graph metrics, and volumetric energy density.
Ideally, you want an energy density of around 450 or 500 per kilogram. In some cases, this is attainable, and that's all. Do you know who sells expensive, they are in that region. But in reality, most research and development efforts are aimed at improving the cost per kilowatt-hour hour. How companies can improve the cost of range. Improve the cost of battery packs to make cars more affordable. People are starting to expect a range of around 300 miles, which I think is kind of normal. Probably about 300 miles. If you assume you're not climbing in cold weather, the range will decrease as you increase the load. If you go down the mountain, the range will increase.
So I think a normal EPA range of over 300 miles is a normal standard. Then just figure out how to make enough battery packs and scale up.
I think we've made good progress with Tesla design sales. This is a design manufacturer sale, which is a difficult problem. their entire company. That's all they did. But it's progressing very fast. There were no major breakthroughs. How many gigawatt-hours do we need to sell each year to truly transition the world to a sustainable energy economy, and how much work remains to be done? In fact, hundreds of gigawatt-hours, and eventually more than thousands of gigawatt-hours, need to be sold each year, much of which will be used for fixed storage. Therefore, wind power generation is paired with fixed battery packs and solar fixed battery packs.
Improving grid efficiency and stability through fixed battery packs in general is actually a big deal. So, overall, I think things are progressing well.
X Takeover:
When you think about the many people I've met over the years who have paid attention to this, I think it was quite late, but it's crazy that it's already happening, and it's crazy, and even starting in 2018, you know, from bankruptcy to the company starting to fully autonomous driving with 5,000 Model 3s, it's really crazy.
One thing I've always known is that I ended up driving a robot. But I never thought about it; I think maybe my thinking is limited to that. If we actually make humanoid robots at Tesla. Did you know that Tesla is an artificial intelligence product company, how is this related to the situation in the factory? You've commented on what's happening in the world. So, what's the situation.
Elon Musk:
robot.
X Takeover:
Yes, then how can robotic humanoid robots influence valuation opinions and company visions.
Elon Musk:
I mean, you can think of Tesla cars as essentially robots on four wheels. This is really profound, and I'd suggest just showing people autonomous driving capabilities, friends and family, etc. Because if you look at a model through a model, I mean, it's a nice looking car, but it doesn't look super smart.
It looks like a nice electric car, but it doesn't look like, say you have a cat. Looks like a normal cat. But in reality, your cat can talk, dance with hats and canes, and perform musicals. Let's say you have a sentient cat that talks, sings, and dances. But when people see the cat on the couch, it looks like a normal cat until it dances up and sings and dances, and people say, wow, what is that. This is the characteristic of autonomous vehicles.
The Model 3 has a nice appearance and looks normal. It's just that our car can basically sing and dance, and it's smart enough to drive from place to place. So just to show this to those who surprised them. I recommend this because that's really critical.
Then for the Optimus robot, it's actually an extension of what we've learned from cars. A car is an intelligent robot with four wheels. Optimus is an intelligent robot with arms and legs. In the case of Optimus, we had to design every part of the robot from scratch. All motors, gears, electronics, and sensors must be designed from scratch. Also, we have to learn how to operate all of these motors and sensors. You can really learn a lot about how the human body works, and you'll realize that we evolved for a reason.
Do you know why the muscles that operate your hands are actually located in your forearm? If you look at your hand, it's kind of like a puppet. The puppet's thread is in your forearm. There are actually a few muscles in your hands, but most of the muscles that operate your hands are your forearm muscles.
In the current version of Optimus, our actuators are actually in our hands. However, for the new version we're launching later this year, the actuator is in the forearm, which really simulates how a human hand works. When I say actuators, actuators include a motor plus gearbox plus power electronics and sensors. In fact, there are no actuators, you can buy them for any amount of money, and these actuators work great for human robots.
So we actually went back to the first principles of physics and designed all the actuators from scratch. It's a tough job, and I think it's going to be very difficult. Designing an actuator to make an effective human robot is no easy task for any company without an actuator. It will then have the same brain as a car. First hardware 4, then hardware 5, in 2026. Then just like cars, cars are learning how to navigate reality.
This is the same basic process for humans. I think basically everyone wants one. Who wouldn't want one? For example, assuming R2D2 and C3PO are realistic, you can have them, who doesn't want R2D2 or C3PO? That would be great. I love a friendly partner robot. Now we need to make sure they stay friendly. This is very important.
Yes, but I think it's a bit like people are very attached to their team, right? Just like people, you know, you'll be dependent on R2D2 and C3PO. I think everyone would want one. I think in the long run, a humanoid robot should cost less than a car because it weighs less. Fewer parts inside.
So in the end, I think a super-useful humanoid robot could cost $20,000 or $25,000 in the long run. How much a dollar will be worth in the future, I don't know. But this year, I can expect humanoid robots to cost between $20,000 and $25,000. That's really useful; it helps you take care of kids, walk dogs, go shopping for groceries, whatever, as long as it's useful. So I think everyone would want one. There are 8 billion people on Earth, and I think they'll all want one. So I think it's probably going to be the biggest thing ever.
X Takeover:
Elon, what are you going to use your robot for?
Elon Musk:
I mean, in the beginning, we were in the first year of production design at Optimus, and next year we will be doing some basic things at the Tesla factory. Because we wanted to solve a lot of details. This is just to make sure it's useful. The engineering department needed quite a bit of care during the first year or so. Then hopefully by 2026, we'll be able to sell it to people outside. Because we're confident it'll run pretty well and respond to voice commands and stuff like that. You can then customize the robot's appearance to some extent. You can put some kind of shell on the robot, so I think there will be all kinds of changes, and the other robots will look just like you know.
Maybe some third parties can do cool things, for example, Cybertruck's third-party packaging is cool, and I think there's some very creative art. So the soundtrack is like most of its cars are a bit like exposed stainless steel. I ended up with some of the most interesting art, in terms of how it was packaged and in some ways. Yes, it's really unique. In fact, when it comes to L, he is also very creative. He has some ideas, such as making an L version of Optimus Prime. For example, we should have different artists come up with different versions of Optimus Prime.
X Takeover:
Speaking of Cybertrucks, I've had a Cybertruck since mid-February. Also, I'm used to FSD.
Elon Musk:
Oh, you really want it, but I totally agree.
X Takeover:
I don't know if I get special treatment, but either way, or more importantly, it's for everyone. I'm just saying that I've driven 10,000 miles, driving the most advanced technology is exhausting, and I feel like I'm driving. It's still the most amazing functional test ever. But are there any updates to Cybertruck's FSD?
Elon Musk:
Hmm, I think it should be released in August. 12.5 is a two-week wait.
X Takeover:
How many weeks?
Elon Musk:
Yes, it will be released sometime. Over the next 2 to 4 weeks or so. It should work. I'll keep track. I'm not sure about the exact time since we just need to test it and make sure it works fine. But 12.5 is where a lot of things come together, and you have higher versions there. We've upgraded our motorway stack to the latest version. So, here's one, you don't have the old freeway stacks in the new city. Having an integrated, state of the art motorway and city stack is a big deal. Like any little thing, you can wear sunglasses. And still use your hands while driving and then let it work on a cybertruck. A friend of mine only traveled half the country in a cybertruck and he said it was great for him. He can't open FSD.
X Takeover:
I think we did have people driving their cybertrucks from Florida and Toronto. Well, not for, but from all over the US, and I think it's actually like they're filling their status as farmers, even though it's the best product Tesla has made so far.
RoboTaxi will be an eye-opener
X Takeover:
Yes, this is a great product. So yeah, it will be available soon. Elon, what are the future automotive projects you are looking forward to most? Is it a Roadster? Is it RoboTaxi? Can you talk about what you're most looking forward to?
Elon Musk:
Well, in my opinion, in terms of having the biggest impact on the world, it would be Robotaxi. Of course, now all types of vehicles can operate it, or operate like a Robotaxi. Yes, but I think a dedicated Robotaxi will have the biggest impact on the world. I think semi-trailers will have a huge impact. The Roadster is the kind of thing that isn't necessary from a practical point of view, but it's pretty cool.
My friend Peter Tell once said, why don't we own flying cars? I said, wait, it's coming soon. So I thought that would be really cool. Will it change the world? I don't know. But I think sometimes it's cool to do something cool because it's great to have something amazing or something in the world. So it's like icing on the cake. I think the Roadster demo would be an eye-opener. Probably the most eye-opening presentation ever.
X Takeover:
When did it happen? I don't know if you can share it, but it would be great if you had to pass this along.
Elon Musk:
Think about sometime next year. It was a joint effort between Tesla and SpaceX. So it's kind of like combining rocket engineering with Tesla electric vehicle engineering.
X Takeover:
Manufacture alien technology.
Elon Musk:
Something very special.
X Takeover:
I've heard it can fly a little bit. Yes, that's right.
Elon Musk:
Yes, it would be special. We'll continue to make new products we've never talked about. There will be new things coming out, but what really matters is fully automated driving. Driverless cars are unsupervised. It's like a huge change. Then there's Optimus Prime, a useful humanoid robot with autonomy. Is it bigger than fully automated driving? But if you look back in history and fast forward 20, 30, or even 50 years, you'll find that these two things mean a lot. Unsupervised fully autonomous driving solutions, and truly useful humanoid robots. Even 50 or 100 years from now, they'll be considered a big deal.
X Takeover:
Elon, you have a date on your calendar for the announcement and launch of the cyber robot taxi. What can we expect?
Elon Musk:
Hmm, I can't reveal it. You know, you don't want to take the show away before it starts. So I thought this would be a teaser. I thought this would be cool and people would be really excited. In actual activity, how many people will realize how profound it is? What will we show? Some will understand the depth of it, but not everyone will, but it will be obvious in hindsight.
X Takeover:
OK, yeah, everyone, thanks Elon for taking the time. One thing I want to ask you is that apparently we have the latest model, Model 3 Performance, or Model 3 already on the market in Thailand. Cybertruck is here. When you think about the future of transportation, it's clear that France is involved in the design. But when you think of unsupervised FSD, how does it change the way you handle or structure future transportation? Again, I know I don't have to take the design aspect into account, but when you think about the next step, how will future transportation affect it?
Elon Musk:
If you don't drive, you're actually sitting in a tiny lounge. You can watch movies, play video games, work, or you can sleep whatever you want. You can drink alcohol too, because you're not driving, right? So it's like a small mobile lounge. You don't have to focus on driving all the time; you have to stay focused at all times. So it's totally different.
I think the future is also interesting for Optimus Prime, for those who have lost a limb. If you use neural links, you can basically control electronic devices. If someone loses an arm or leg, or something else, connecting and enabling it, combining it with neural links will provide them with what is essentially a cybernetic limb. This is probably pretty incredible. I thought this would be cool. A joint effort between Neurlink and Tesla.
X Takeover:
Elon, recently there was some news on X about candy announcements and the like. No, I just don't know what that is. I just drove to buy candy. So yeah, I had too much candy on my flight.
Elon Musk:
What's happening in the world is crazy. Something is happening to both SpaceX and Tesla, artificial intelligence is improving, and the pharmaceutical industry is making a lot of progress. There are lots of interesting miraculous drugs coming out soon. We are sure that we will definitely be headed towards the most interesting future. I think we're living in the most interesting times. Sometimes it's easy, like getting frustrated with everyday events or politics. But from a macro perspective, we are living in some of the most interesting times in history. That's cool.
Musk: Confident in the company's long-term value
X Takeover:
But my question is, when you think about retail investors and what they mean to Tesla, what do you think of, especially all the work the community does, Alexandra, Ames in the world, the Tesla community. But what do you think of Tesla's retail investors?
Elon Musk:
Okay, I have to say, I love retail investors. They have decided to support the company, which is very much appreciated. We have the highest percentage of retail investors of any company, or definitely the highest. I think that's a really good thing. Stock prices fluctuate up and down for random reasons. But I do have confidence that the long-term value of the company will be very high.
The best analysis I've seen is Kathy Woods' Arc Invest. They used to be the most accurate. The company's values will be a bit like driverless cars and Optimus.
What does money mean in the future? Because if you have robots, the cost of goods and services is almost zero. Then we will move on to an era of abundance. Tesla may now be in a phase similar to what Nvidia was in before the video was released, and Nvidia's stock is skyrocketing. I think Nvidia is worth their current valuation. They did a fantastic job with Jensen and his team. This really shows the value of artificial intelligence of any kind. A company that is strong in artificial intelligence will be incredibly valuable, and it will dwarf the value of companies without artificial intelligence.
Advanced artificial intelligence will really make a big difference. Product productivity, a simple calculation of a car is that a typical passenger car uses about 10 hours a week. This is called an hour and a half every day for seven days. So it's about 10 hours. But if it's autonomous, it can be used for 100 hours a week. I'm not sure what the average usage rate should be, but the average usage rate is probably 50 hours in autopilot mode, but it can definitely be used for 100 hours or 168 hours a week. As a result, the car would be 10 times more productive, but at the same cost. If you do some basic math on this, you'll see that now your profit margin has risen from 20-25% to 90%. This is insane.
For C-Class cars owned by customers, we obviously share the revenue with the customer. As a result, I think car owners will earn much more than when the cost of the car or financing costs were minimal in the autonomous driving model. If you only consider asset utilization efficiency, you'll notice an increase in car usage time from 10 hours per week to 50 or 100 hours per week. And it's the same car. This is probably the biggest explosion of value ever.
X Takeover:
I actually have a question. It's a bit of a follow-up to what you mentioned, and a bit off topic, but have you seen it, and are you anticipating the rise of mechanisms to determine the truth of the content and the effectiveness of what is said. I think this is a future trend, right? Half of the time I watched it I felt like I was on YouTube, and they were taking some of the bitcoins you randomly mentioned in the interview, or I've watched our interviews, like people messaged us in May 2022, and they were live streaming it, just like it was live. It's like, wow, I had long hair two years ago and it didn't look the same anymore. But this is you talking, and you're randomly saying that the price of Bitcoin, you know, is actually falling. So what are your thoughts on this?
Elon Musk:
I don't really promote cryptocurrencies. So if you see me promoting cryptocurrencies, it's not me.
I think Bitcoin and some other cryptocurrencies have some advantages. I have a soft spot for Dogecoin. Because I love dogs and memes.
On the X platform, things quickly get attention from the community, or in responses, people say, hey, that's not true. So I think we can work to get the community's attention to surface more quickly. Also, if a similar video appears, community notes are attached to any kind of similar video.
It definitely is. Wouldn't be taken with caution. If you see that I see a cryptocurrency sales pitch, I'll check it out again. It's true.
X Takeover:
Elon, we'd like to ask you one last question, and that's what you're most excited about Tesla and SpaceX.
Elon Musk:
The key to SpaceX is to achieve full and rapid re-use of interstellar spacecraft rockets. It really is the holy grail of space technology. No one has ever built a fully reusable orbital rocket. So Starship is the first design that can do this.
This is definitely a far-reaching thing, as they are fully reusable rockets that can be reused quickly. This is the difference between humans as a single-planet civilization and a multi-planet civilization. So this is huge. I think we'll probably get there next year. So this is a big deal.
For Tesla, the general solution for autonomous driving is also a very profound thing. Unsupervised, fully autonomous driving. If it doesn't happen later this year, it will most likely happen next year. If you just plot points on the mile curve between interventions, this number is improving significantly. So these are two huge changes. But because I think the market for humans or robots actually exceeds 10 billion units, which is more than the number of humans. Because everyone wants one, then there will be others involved in industry and other things.
So if they actually sell it for $20,000, it's 200 pounds. So that's a crazy number. So we should hold their shares. Let's just say nice things.
Anyways, this is really crazy. $200 trillions. That's a bit of a crazy number. But that's the level of importance we're talking about here. So it should be held. A few years. Thank you all for your support.
X Takeover:
If we can, we'd love to do a virtual slash in person. Oh well, I think you'll definitely get a standing ovation from the audience right now. This is insane. Elon is really dancing when you're talking about the cat X bought. So, thank you again, Elon, Kevin, and I on behalf of our organization for participating in the X acquisition and for taking the time you've spent about an hour or so with us. Thanks to the community and retail investors for their support, we appreciate everything you've done for humanity, and thank you for picking up a shovel to do this.
Elon Musk:
OK, sounds great. Thank you all.
X Takeover:
Bye. Thanks, Elon. OK. The background presentation was supposed to be five minutes long. It's like when he called me back, he spoke for about five minutes, then went from 15 minutes to 30 minutes, then we talked for another hour. So thank you for coming to this event.
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