Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), defended his time-based predictions, highlighting that his forecasts are often realized, albeit not always on schedule.
What Happened: Musk took to X to explain his approach to time-based predictions. He stated that he typically targets the 50% percentile date, meaning half his predictions will be late, and half will be early.
Musk expressed frustration that the media tends to focus on late predictions, creating a perception that he is consistently behind schedule.
"The press never mentions the predictions that were early, so it seems like I'm always late," he said.
"It is very rare that a prediction I make does not come true over time."
For my time-based predictions, I generally aim for the 50% percentile date, which means that half my predictions will be late and half will be early. The press never mentions the predictions that were early, so it seems like I'm always late.
— Elon Musk (@elonmusk) October 12, 2024
However, it is very rare that a...
Why It Matters: Musk's post comes in the wake of several recent delays at Tesla. In August, the company announced a delay in the rollout of its full self-driving (FSD) driver assistance technology for its Cybertruck vehicles, originally scheduled by Musk for an earlier date.
In July, Musk confirmed a delay in Tesla's robotaxi unveiling due to design changes. In June, Musk announced that a refreshed Model Y would not be launched this year, contrary to expectations.
In April, Musk revealed that Tesla was in talks with a major automaker to license its FSD software, but deployment would take time.
However, as Musk points out, his predictions often come true eventually, as seen with the ongoing discussions for FSD licensing.
Tesla's highly anticipated new Roadster has also been delayed multiple times, with Musk saying back in 2021 that the car would ship in 2023. However, that is yet to come to pass.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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