Elon Musk has dramatically distanced himself from Donald Trump’s latest tax-and-spending bill, branding it a ‘disgusting abomination’ in a fiery post on X.
The Tesla and SpaceX CEO, once a key financial backer of Trump’s 2024 campaign, has now turned against the administration’s ‘One Big Beautiful Bill’, warning that it will explode the federal deficit and burden American taxpayers with unsustainable U.S. debt.
Musk’s frustration boiled over as he accused lawmakers of reckless spending, calling out those who voted for the bill: ‘Shame on you. You know you did wrong’.
The White House, however, remains unmoved. Press Secretary Karoline Leavitt dismissed Musk’s remarks, insisting that Trump is ‘sticking to it’ and that the bill will drive economic growth.
With Republican deficit hawks rallying behind Musk’s concerns, the billionaire’s influence in Washington is far from over.
His next move? Firing back at politicians who, in his words, ‘betrayed the American people.’
Elon Musk’s fiery critique of Trump’s ‘One Big Beautiful Bill’ has raised concerns for the Department of Government Efficiency (DOGE), an initiative he once led.
His departure from DOGE signals instability (much of which he created) within the agency, which had been pushing for aggressive cost-cutting measures and anti-waste policies.
Without Musk’s influence, DOGE could lose traction, allowing excessive spending to go unchecked. Additionally, Musk’s fallout with Trump might weaken DOGE’s ability to implement reforms, as its credibility is tied to his vision.
The question now is whether DOGE can remain a force for fiscal responsibility, or whether it will become just another bureaucratic arm.
Tesla’s vehicle sales in Europe plummeted by 49% in April 2025, marking the fourth consecutive month of decline.
Despite an overall 27.8% rise in battery-electric vehicle sales, Tesla struggled to maintain its foothold in the region.
The drop in sales has been attributed to increasing competition from Chinese automakers, a shift in consumer preferences towards hybrid vehicles, and growing backlash against CEO Elon Musk’s political affiliations.
Tesla’s market share in Europe nearly halved, falling from 1.3% to 0.7%. The company’s aging lineup, particularly the Model Y, has failed to attract new buyers, while rivals such as BYD have overtaken Tesla in European EV sales for the first time.
Additionally, European carmakers are cutting costs and adapting to U.S. tariffs on auto imports, further intensifying competition. Chinese EV manufacturers are also cutting EV prices.
While Tesla faces challenges in Europe, the broader EV market continues to expand, driven by government incentives and stricter emission targets.
However, unless Tesla refreshes its lineup and rebuilds consumer trust, its dominance in the European market may continue to erode.
The company’s future remains uncertain as it navigates political controversies and shifting market dynamics
April 2025 marked a watershed moment in the European electric vehicle (EV) market as BYD outsold Tesla for the first time ever.
According to JATO Dynamics, BYD registered 7,231 battery-electric vehicles, narrowly surpassing Tesla’s 7,165 registrations.
This shift comes despite EU-imposed tariffs on Chinese-made EVs, which were expected to hinder BYD’s growth. However, the company’s aggressive expansion strategy and diversified lineup – including plug-in hybrids – helped it navigate trade barriers and maintain momentum.
Tesla, on the other hand, has faced declining sales, with its European registrations dropping 49% year-over-year. Production delays, protests against CEO Elon Musk, and consumer hesitation over new Model Y trims have contributed to the slump.
BYD’s success signals a changing landscape in Europe’s EV market. With its Hungarian production plant set to open soon, the company is poised for further growth.
Presumably now, Tesla must reassess its strategy to regain dominance in a market it once ruled.
As competition intensifies, European consumers will benefit from greater EV choices, potentially driving further innovation in the industry
Saudi Arabia is making bold moves in artificial intelligence with a major acquisition from Nvidia.
The tech giant will be sending more than 18,000 of its latest GB300 Blackwell AI chips to Saudi-based company Humain, in a deal that marks a significant step toward the nation’s ambitions to become a global AI powerhouse.
The announcement was made by Nvidia CEO Jensen Huang during the Saudi-U.S. Investment Forum in Riyadh, as part of a White House-led trip that included President Donald Trump and other top CEOs.
Humain, backed by Saudi Arabia’s Public Investment Fund, plans to use the chips to develop large-scale AI models and establish cutting-edge data centers.
The chips will be deployed in a 500-megawatt facility, making it one of the largest AI computing projects in the region. Nvidia’s Blackwell AI chips are among the most advanced in the industry, used in training sophisticated AI models and powering data-intensive applications.
Saudi Arabia’s investment in AI technology aligns with its long-term vision of transforming its economy beyond traditional industries. With plans to expand its data infrastructure and deploy several hundred thousand Nvidia GPUs in the future, the country is positioning itself as a major AI hub in the Middle East.
As AI continues to shape global industries, Saudi Arabia’s investment signals a broader shift in how nations are competing for dominance in the AI revolution.
Nvidia’s involvement underscores the strategic importance of AI chips, not just in business, but in international relations as well.
U.S. tech giants are making bold strides in the development of humanoid robots, signalling a transformative shift in the robotics industry
Companies like Tesla, Google, Microsoft, and Nvidia are investing heavily in this cutting-edge technology, aiming to create machines that mimic human movement and behaviour.
These humanoid robots are envisioned to revolutionise industries ranging from manufacturing to healthcare, offering solutions to labor shortages and enhancing productivity.
Tesla’s Optimus project is a prime example of this ambition. CEO Elon Musk has announced plans to produce thousands of these robots, designed to perform repetitive and physically demanding tasks.
Optimus robots are expected to integrate seamlessly into factory settings, reducing the need for human intervention in hazardous environments.
Similarly, Boston Dynamics, known for its agile robots, continues to push the boundaries of what humanoid machines can achieve, focusing on tasks that require precision and adaptability.
The integration of artificial intelligence (AI) is a driving force behind these advancements. AI enables robots to learn from their environments, adapt to new tasks, and interact with humans in more intuitive ways.
Companies like Nvidia are leveraging their expertise in AI and machine learning are helping to develop robots capable of complex decision-making and problem-solving.
However, challenges remain. High production costs, limited battery life, and safety concerns are significant hurdles that need to be addressed before humanoid robots can achieve widespread adoption.
Despite these obstacles, the potential benefits are immense. From assisting the elderly to performing intricate surgeries, humanoid robots could redefine the boundaries of human capability.
As U.S. tech giants continue to innovate, the race to dominate the humanoid robotics market intensifies.
Tesla Optimus Gen 2
With China and other nations also making significant investments, the competition is fierce. Analysts warn that U.S. firms could lose out to China, which aims to replicate its success with electric vehicles in the robotics space race.
The future of humanoid robots promises to be a fascinating blend of technology, creativity, and global collaboration
U.S. companies that may benefit from this AI humanoid tech advancement
Tesla: Known for its Optimus humanoid robot project, Tesla is pushing boundaries in robotics and AI.
Google (Alphabet): A leader in AI and robotics research, with projects aimed at enhancing humanoid capabilities.
Microsoft: Investing in AI technologies that support robotics and automation.
Nvidia: Provides advanced AI chips and systems crucial for humanoid robot development.
Boston Dynamics: Famous for its agile robots like Atlas, focusing on precision and adaptability.
Agility Robotics: Creator of Digit, a humanoid robot designed for logistics and manufacturing.
Meta (Facebook): Exploring humanoid robots for social and interactive applications.
Apple: Investing in robotics and AI for potential humanoid advancements.
Amazon: Developing robots like Astro for home monitoring and other tasks.
Figure AI: Innovating humanoid robots like Figure 02 for various industries.
Bill Gates on AI
Bill Gates has shared some fascinating insights about AI recently. He reportedly believes that within the next decade, AI will transform many industries, making specialised knowledge widely accessible.
For example, he predicts that AI could provide high-quality medical advice and tutoring, addressing global shortages of doctors and educators.
Gates has also described this shift as the ‘age of free intelligence,’ where AI becomes a commonplace tool integrated into everyday life. While he acknowledges the immense potential of AI to solve global challenges – like developing breakthrough treatments for diseases and innovative solutions for climate change – he also recognises the disruptive impact it could have on jobs and the workforce.
Despite these concerns, Gates remains optimistic about AI’s ability to drive innovation and improve lives.
He has emphasised that certain human activities, like playing sports or hosting talk shows, will likely remain uniquely human.
However, despite all these predictions from powerful tech leaders – it does beg the question, do these ultra rich CEOs predict the future, or simply make it?
What if Quantum Physics coincides and collides with the ‘full’ arrival of AI and humanoid robots
Quantum computing could enhance the capabilities of AI-powered robots by solving complex optimisation problems, improving machine learning algorithms, and enabling real-time decision-making.
For instance, robots equipped with quantum sensors could navigate intricate environments, detect subtle changes in their surroundings, and interact with humans in more intuitive ways.
This fusion could revolutionise industries such as healthcare, manufacturing, and space exploration. Imagine humanoid robots performing intricate surgeries with precision, managing large-scale logistics, or exploring distant planets with advanced problem-solving abilities.
However, this convergence also raises ethical and societal questions. The potential for such powerful technologies to disrupt industries, impact employment, and challenge privacy norms must be carefully managed.
Collaboration between scientists, policymakers, and ethicists will be crucial to ensure these advancements benefit humanity as a whole.
The intersection of quantum physics, AI, and humanoid robotics is not just a technological milestone – it’s a glimpse into a future where the boundaries of human capability and machine intelligence blur.
It’s an exciting, albeit complex future humans are creating.
But will AI surpass human intelligence – and if it does what then for the human civilisation?
Major corporations like Nike and Accenture, for example have recently reported significant challenges stemming from these policies. Nike has warned of a sharp decline in sales for the current quarter, attributing this to tariffs and weakened consumer sentiment.
Similarly, Accenture has experienced a reduction in revenue due to cuts in U.S. government contracts, highlighting the ripple effects of reduced federal spending. It is a good guide to U.S. consumer sentiment.
The tariffs, part of a broader economic strategy, aim to protect domestic industries but have led to higher production costs and strained international trade relations.
The European Union has postponed its own tariffs on U.S. goods, seeking to negotiate a more favourable agreement and mitigate potential economic fallout.
These developments underscore the delicate balance between protecting domestic interests and maintaining a respectable global economic position.
Some argue that the U.S. tariffs and budget cuts may ultimately harm both businesses and consumers, as higher costs are passed down the supply chain.
As the 2nd April 2025 implementation date for new tariffs approaches, businesses and policymakers alike face mounting pressure to address these challenges and find solutions that support economic growth while minimizing adverse effects.
The coming months will be crucial in determining the long-term impact of these policies.
The Elon Musk-led Department of Government Efficiency claims to be streamlining the federal government’s spending
But it has so far sown confusion, with the Trump administration attempting to rehire employees it had previously fired.
DOGE presents a distorted reflection of the current state of the U.S. economy. U.S. President Trump has implemented a series of policies to try to stimulate effect, frequently modifying them mid-course, resulting in collateral damage within the country’s own borders.
U.S. markets have been on a downward trend and were significantly impacted on. Tesla shares have lost some 50% since Trump’s election. Consumers are also boycotting Tesla vehicles.
Tariffs, according to Trump, are meant to protect U.S. businesses and punish trade partners. But so far, it seems that the world’s biggest economy is the one suffering.
Dismal day in the markets
U.S. stocks experienced a rout Monday 10th March 2025 as fears of a recession gripped investors. The S&P 500 dropped 2.7%, the Dow Jones Industrial Average lost 2.08% and the Nasdaq Composite sank 4% in its worst session since September 2022.
The White House downplayed the market slump, saying it’s not as ‘meaningful’ as business activity (what does that mean exactly)?
Asia markets also retreated Tuesday 11th March 2025. Japan’s Nikkei 225 fell around 1% amid a weaker-than-expected showing for its fourth-quarter gross domestic product (GDP).
Tesla’s sell-off on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging a whopping 15%, marking their worst trading day on the market since September 2020
On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the Trump ‘2’ White House.
Since peaking at $479.86 on 17th December 2024 Tesla shares have lost more than 50% of their value, wiping out upward of $800 billion in market cap. Monday 10th March 2025 marked the stock’s seventh worst day on record.
Tesla 3 month share chart as of close 10th March 2025 – down a total of 50% and 15% in one day
Tesla 3 month share chart as of close 10th March 2025 – down a total of 50% and 15% in one day
Tesla led a broader slump in U.S. equities, with the Nasdaq tumbling almost 4%, its steepest decline since 2022.
During an interview on Monday 10th March 2025, Musk was reportedly asked how he manages to run his businesses while fulfilling his role in the Trump White House. He reportedly said he’s doing so –‘with great difficulty’.
In addition to Tesla’s troubles, Musk’s social network X experienced several outages throughout the day on Monday 10th March 2025, and his company SpaceX is investigating two explosions in a row that occurred during test flights of its massive Starship rocket.
Elon Musk is also reported as saying that he expects to remain in the Trump administration for another year. He posted on X that ‘It will be fine long-term’, referencing Tesla’s steep stock price decline.
For seven consecutive weeks since Elon Musk travelled to Washington to join the Trump administration, shares in his automaker have declined, closing on Friday at $270.48.
This marks the longest losing streak for Tesla in its 15 years as a public company.
Tesla shares concluded the week a decline of over 10%, reaching their lowest level since 5th November 2024, U.S. Election Day, when they closed at $251.44.
Since their peak at $480 on 17th December 2024, Tesla has lost over $800 billion in market capitalisation.
Tesla shares sank 8% on Tuesday 25th February 2025 and have now lost most of their gains that followed President Donald Trump’s election victory in November 2024.
The stock has plunged 25% this year, while the Nasdaq is down 1.5%.
It was also reported on that the company’s long-awaited upgrade of its partially automated driving system in China left owners unimpressed.
Tesla 3-month chart as of 25th February 2025
Tesla 3-month chart as of 25th February 2025
Bump to slump?
The ‘Trump Bump’ – a term referring to the surge in stocks and other assets, such as cryptocurrency, following Donald Trump’s election and inauguration seems to have plateaued.
This is most evident in Tesla shares, which plummeted Tuesday 25th February 2025, wiping out most of the post-election gains linked to CEO Elon Musk’s association with Trump.
Concerns about Tesla pertain to the company’s and Musk’s significant amount of time spent in Washington, D.C.
Investors are increasingly worried about impact of Trump’s tariffs on the economy. A U.S. Conference Board survey indicated pessimism regarding job availability, business conditions, and future income, along with heightened expectations for inflation in 2025.
The 10-year Treasury yield, considered an indicator of growth expectations, declined on this news. Stocks continued to fall. If this trend does not reverse soon, we could be facing a ‘Trump Slump.’
Elon Musk’s AI company, xAI, has recently released its latest AI model, Grok 3.
This new AI model is designed to be significantly more powerful and capable than its predecessor, Grok 2.
Enhanced Capabilities: Grok 3 boasts 10 times more computing power than Grok 2 and has been trained on an expanded dataset, including court case filings.
Reasoning Models: Grok 3 includes reasoning models that can carefully analyze and fact-check information before providing responses. This helps in avoiding common pitfalls of AI models.
Benchmark Performance: Grok 3 has outperformed other leading AI models, including OpenAI’s GPT-4o and DeepSeek’s R1, on various benchmarks such as AIME (math questions) and GPQA (physics, biology, chemistry problems).
New Features: The Grok app now includes a ‘DeepSearch’ feature that scans the internet and xAI’s social network, X, to provide summarised responses to user queries.
Subscription Plans: xAI has introduced a new subscription plan called SuperGrok, which offers additional reasoning capabilities and unlimited image generation.
Grok 3 is being hailed as the ‘smartest AI on Earth’ by Musk, and it’s expected to have a significant impact on various industries.
Definition
Grok is a neologism (a newly coined word or expression), referenced by Robert A. Heinlein for his 1961 science fiction novel Stranger in a Strange Land. It means to understand something so deeply that you become one with it.
Grok is a term used in computer programming to mean to ‘profoundly understand something‘, such as a system, a language, or an algorithm.
It is supposed to have ‘a bit of wit, a rebellious streak’ and it should answer the ‘spicy questions’ that other AI might dodge, according to a statement from xAI.
From a business perspective, Musk’s achievements are undeniable and even astonishing. The companies he leads are not only market leaders but also pioneers in their respective fields – consider how Tesla initiated the electric vehicle industry or how SpaceX successfully commercialised spaceflight.
Paradoxically, achieving success on a broad scale can have adverse effects. Investors appear to be increasingly concerned that Musk, despite his business acumen, is becoming distracted.
Tesla shares have declined over the past five trading days, dropping more than 6% on Tuesday 11th February 2025 as Chinese competitor BYD seems to be surpassing the company in AI-enabled autonomous driving.
If hands-free driving becomes a reality at Tesla, it could allow Musk to engage in other ventures without negatively impacting the company’s shares.
What you need to know today
BYD is a Tesla threat – but this is Elon Musk we’re talking about
Tesla shares fell 6.3% Tuesday 11th February 2025 after Chinese EV maker BYD said it will integrate DeepSeek into its autonomous driving technology and offer it in nearly all its vehicles.
As we head into 2025, the landscape of artificial intelligence (AI) regulation is poised to undergo significant changes, and these shifts are likely to have a profound impact on the stock markets.
The introduction of new regulations, particularly in regions like the European Union and the United States, will create both challenges and opportunities for investors.
One of the most anticipated regulatory developments is the European Union’s AI Act, which aims to set a global standard for AI regulation. This act is expected to impose stringent requirements on AI systems, particularly those used in high-risk sectors such as healthcare, finance, and law enforcement.
Companies operating in these sectors will need to invest heavily in compliance, which could lead to increased operational costs and potentially affect their profitability. As a result, stocks of companies heavily reliant on AI technologies may experience volatility as investors react to these new regulations.
In the United States, the political landscape is also shifting, with the incoming administration expected to take a more hands-on approach to AI regulation. President-elect Donald Trump has appointed Elon Musk to co-lead a new ‘Department of Government Efficiency – DOGE‘, which will focus on nascent technologies like AI. Musk’s influence and experience in the AI field could lead to more favourable policies for AI development, but it could also result in increased scrutiny and regulation of AI applications. Musk’s AI vision differs to that of Mark Zuckerberg’s for instance.
This dual approach of promoting innovation while ensuring safety and ethical use of AI could create a dynamic and unpredictable market environment.
The impact of AI regulation on the stock markets will not be uniform across all sectors. While companies in high-risk sectors may face challenges, those in industries like healthcare and finance could benefit from AI’s transformative potential.
For example, AI-driven innovations in healthcare, such as predictive diagnostics and personalised treatment plans, have the potential to revolutionize patient care and reduce costs. Companies that successfully integrate AI into their operations and comply with regulatory requirements could see their stock prices rise as investors recognize the long-term value of these advancements.
However, the regulatory landscape is not without its risks. Companies that fail to adapt to new regulations or face compliance issues may see their stock prices suffer. Additionally, the rapid pace of technological change means that regulations may struggle to keep up, leading to potential legal and financial uncertainties for companies operating in the AI arena.
AI regulation in 2025 is likely to create a complex and dynamic environment for the stock markets. While new regulations will pose challenges for some companies, they will also open up opportunities for those that can navigate the regulatory landscape successfully.
Investors will need to stay informed and agile, as the impact of AI regulation on the stock markets will be both significant and multifaceted.
Tesla shares soared to an all-time high on Wednesday exceeding their previous record set in 2021, driven by a post-election rally and heightened enthusiasm Wall Street for Elon Musk’s electric vehicle company.
The stock increased to an intraday high of $415, exceeding its previous peak by 50 cents and closed above its highest finish of $409.97 recorded on 4th November 2021.
Tesla’s market has increased reportedly increased by around 69% this year, with nearly all of those gains occurring after Trump’s election victory early last month. The stock’s 38% rally in represented its monthly performance since January 2023 and ranks as the 10th best on record.
Reportedly according to Federal Election Commission filings, Musk invested $277 million into a pro-Trump campaign effort and transformed his support for the Republican nominee into a full-time job in the lead-up to the election. He financed an operation in swing states to register voters and utilised his social media platform, to promote his chosen candidate, often disseminating misinformation.
The world’s wealthiest individual, whose net worth has increased to over $360 billion, is poised to head the Trump administration’s ‘Department of Government Efficiency,’ DOGE – together with former Republican presidential candidate Vivek Ramaswamy.
The newly formed DOGE will be tasked with culling government bureaucracy by streamlining and junking departments.
Musk’s role may grant him authority over the budgets and staffing of federal agencies, well as the capability to advocate for the removal of inconvenient regulations. During a Tesla earnings call in October, Musk reportedly stated intention to leverage his influence with Trump to create ‘Federal approval for autonomous vehicles.’ At present, approvals are at the state level.
Is business now openly running he U.S. government?
Bitcoin reaches a new record high, nearing the $100,000 mark as the cryptocurrency rally marches on.
Other altcoins are rallying too, basking in the aftermath of the SEC resignation news.
Gary Gensler, Chair of the Securities and Exchange Commission, will step down on 20th January 2025 (Trumps inauguration day), an announcement made by the SEC on Thursday 21st November 2024, which clears the path for President-elect Donald Trump to appoint a more crypto friendly successor.
During Gensler’s tenure, the SEC engaged in numerous high-profile conflicts with the cryptocurrency industry, including a lawsuit against Grayscale over Bitcoin ETFs – a case Grayscale won, leading to a significant influx of capital into these funds since their inception in January.
The SEC has also pursued legal action against several major digital asset firms concerning their crypto dealings, such as Coinbase, with varying outcomes.
Additionally, the SEC has been in conflict with Tesla CEO Elon Musk, particularly regarding his acquisition of the social media company Twitter, now known as X, for $44 billion in 2022. The commission is currently seeking sanctions against Musk for failing to appear for court-mandated testimony related to this matter.
Under Gensler’s leadership, the SEC has scrutinised Musk’s adherence to a previous settlement that mandated a securities lawyer review certain Tesla-related social media posts before they were published.
Musk, a vocal critic of the SEC who supported Trump’s election campaign with his time and a donation of at least $130 million and campaigned alongside him, is poised to join the incoming administration as a co-leader of the newly proposed Department of Government Efficiency (DOGE).
With Gensler’s impending departure and the upcoming expiration of the terms for two other commissioners, Trump will have the chance to significantly influence the future composition of the SEC.
A green light for crypto investors, but a worry (maybe) for the retail trader long-term?
Bitcoin one-day chart as of 22nd November 2024 (09:49am GMT) – Snapshot
Bitcoin one-day chart as of 22nd November 2024 (09:49am GMT)
Bitcoin one-year chart as of 22nd November 2024 (09:51am GMT) – Snapshot
Bitcoin one-year chart as of 22nd November 2024 (09:51am GMT)
Tesla shares enjoyed a Trump pump on Monday 18th November 2024 after reports that President-elect Donald Trump’s team intend to prioritise a federal framework for regulating autonomous vehicles within the U.S. Department of Transportation.
Elon Musk was a prominent advocate in the business sector for Trump’s re-election campaign leading up to this month’s elections.
The purchase of Meme coins is often viewed as indicators of retail interest and the willingness to take risks in the cryptocurrency market. Increased activity in meme coins typically signals that retail investors are engaging and are inclined to speculate more aggressively on the risk spectrum.
Trump initially proposed the concept of an efficiency commission in September 2024. Since that time, Musk -who has previously referred to himself as the ‘Dogefather’ – is known for making public statements about the meme coin that affect its value, has posted on his social media platform X, referring to the commission as the ‘Department of Government Efficiency’ or ‘D.O.G.E.‘
Dogecoin’s relevance surged in 2021 due to Elon Musk’s endorsement and the continuous hype on social media, which became a significant catalyst for the cryptocurrency. In May of that year, Musk’s tweets propelled Dogecoin to its peak value around 67 cents, according to market analysis. However, his reference to Dogecoin as ‘a hustle’, caused its value to plummet.
Recently, Dogecoin’s value increased following the post-election announcement by President-elect Donald Trump about the establishment of the ‘Department of Government Efficiency‘, which he acronymized as ‘DOGE’ in his statement.
Elon Musk, CEO of Tesla, and Vivek Ramaswamy, the former Republican presidential candidate and co-founder of Strive Asset Management, have been appointed to lead this department.
According to Trump’s statement, their role will be instrumental in his administration’s efforts to dismantle government bureaucracy, reduce unnecessary regulations, eliminate wasteful spending, and reorganise federal agencies.
Elon Musk’s Vision for Tesla’s Trillion Dollar Future
Elon Musk, the visionary CEO of Tesla, has consistently set ambitious goals for the company. Among his most audacious claims is that Tesla could potentially become a multi trillion-dollar company and even reach a valuation of $25 trillion, largely driven by the deployment of robotaxis.
Robotaxi vision
Tesla’s robotaxi concept is centred around autonomous vehicles that can operate as self-driving taxis. These vehicles are equipped with Tesla’s Full Self-Driving (FSD) technology, which Musk believes will revolutionize transportation. By transforming Tesla cars into autonomous ride-sharing vehicles, the company could generate significant revenue without increasing the number of cars sold.
Projections
Musk’s financial projections are based on the immense potential of the robotaxi market
Revenue Generation: Each Tesla vehicle could earn substantial income as a robotaxi. If Tesla owners opt into the robotaxi network, Tesla could take a share of the revenue generated from these rides.
Cost Efficiency: Autonomous driving reduces the need for human drivers, leading to lower operational costs. This efficiency could make robotaxis more affordable for users and highly profitable for Tesla.
Reduced pollution: will help meet green energy goals.
Market Penetration: As autonomous technology matures, the adoption of robotaxis could grow rapidly, capturing a significant share of the global transportation market.
Market potential
The global ride-hailing market is already valued at hundreds of billions of dollars, and with the introduction of autonomous vehicles, this market is expected to expand further. Tesla’s early entry and continuous advancements in FSD technology position it to be a dominant player in this space.
Challenges
While the potential is enormous, there are several challenges and scepticism surrounding Musk’s projections
Regulatory Hurdles: Autonomous vehicles must navigate a complex regulatory landscape. Approval processes and safety standards vary by region, which could delay widespread adoption.
Technical Milestones: Achieving full autonomy is a significant technical challenge. Tesla’s FSD technology is still in development, and perfecting it for widespread use requires overcoming numerous technical obstacles.
Market Competition: Tesla is not the only player in the autonomous vehicle market. Competitors like Waymo, Cruise, and traditional automakers are also investing heavily in autonomous technology.
Conclusion
Elon Musk’s vision of making Tesla a trillion-dollar and eventually a $25 trillion company through robotaxis is both bold and captivating. The success of this vision hinges on the successful deployment and adoption of autonomous driving technology. While there are significant challenges to overcome, Musk’s track record of defying odds and achieving groundbreaking innovations keeps the possibility within the realm of achievable dreams.
The future of transportation, as envisioned by Musk, could fundamentally reshape how we move and how Tesla thrives as a pioneer in autonomous mobility.
Tesla’s future does seem promising with the introduction of Optimus, their humanoid robot, as well as their advancements in solar energy and battery technology.
Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has recently made headlines in the U.S. with his stark predictions about the potential economic fallout if Donald Trump wins the upcoming presidential election.
This is unusual, as you are more likely to hear these proposals in a crisis, when desperate times demand desperate measures, but not leading up to a presential election and especially not from an opposition vying to take control of the U.S. presidency.
Musk’s comments have sparked widespread debate and concern, as he foresees significant economic turmoil and a stock market crash in the event of a Trump victory.
Musk’s predictions are deep-rooted in his belief that Trump’s proposed economic policies, including drastic cuts to federal spending and mass deportations, will lead to severe short-term economic disruptions.
Musk emphasised the need to reduce government spending to live within the country’s means, even if it involves temporary hardship.
He reportedly argued that such measures are necessary for long-term prosperity but acknowledged that they would likely cause an initial severe overreaction in the economy
Comments Elon Musk made
Billionaire Musk, Trump’s would-be government budget-cutting and ‘efficiency’ adviser, also says there will be “no special cases” and “no exceptions” when he starts slashing federal spending after Trump takes office.
With just a week until the presidential election, Donald Trump’s ally and influential economic adviser Elon Musk is warning people to expect economic chaos, a crashing stock market and financial “hardship” – albeit only “temporary” – if Trump wins.
“We have to reduce spending to live within our means,” Musk said. “That necessarily involves some temporary hardship, but it will ensure long-term prosperity.”
Describing government spending as “a room full of targets,” Musk said: “Like, you can’t miss. Fire in any direction and you’re going to hit a target.”
He reportedly said, “I think once the election takes place we’ll immediately begin looking at where to take the most immediate action.”
And he reportedly added, “obviously a lot of people who are taking advantage of the government are going to be upset about that. I’ll probably need a lot of security.”
“Everyone,” he reportedly said, will be taking a “haircut.”
The Tesla CEO went further and agreed with a supporter who predicted “an initial severe overreaction in the economy” and that “Markets will tumble.”
“Sounds about right,” Musk replied.
Trump has already reportedly said he wants Musk to head up a commission of government efficiency. Trump says the billionaire tech entrepreneur would be his “Secretary of Budget-Cutting,” implying a possible Cabinet position.
Musk himself has described his new role as running a “Department of Government Efficiency,” though he admits the title is an inside joke – the acronym spells DOGE, the name of a cryptocurrency.
Musk speech highlights
One of the key points Musk highlighted is the potential impact of Trump’s policies on the stock market. He agreed with a social media post suggesting that the combination of mass deportations and significant government spending cuts would lead to a sharp decline in market values.
Musk’s agreement with this assessment has raised alarms among investors and economists, who fear that such a scenario could trigger a financial crisis.
Musk’s concerns are not without precedent. The stock market is highly sensitive to political and economic uncertainties, and drastic policy changes can lead to volatility and investor panic.
The prospect of mass deportations, in particular, could disrupt labour markets and consumer spending, further exacerbating economic instability. Additionally, significant cuts to federal spending could lead to job losses and reduced public services, compounding the economic challenges.
Unusual comments leading up to an election
Musk reportedly told supporters that the measures were needed because of the crisis of the skyrocketing federal debt.
This is not the usual picture when a politician and his campaign promise austerity, hardship, deep budget cuts, a likely economic “overreaction” and a slump in the stock market.
You usually hear these things proposed in a crisis, when desperate times supposedly demand desperate measures.
Are desperate times coming, maybe they are already here?
Optimism
Despite the grim outlook, Musk remains optimistic about the long-term benefits of these policies. He believes that once the initial shock subsides, the economy will recover and emerge stronger and more sustainable.
However, this perspective is not universally shared. Many economists argue that the risks associated with such drastic measures outweigh the potential benefits, and that a more balanced approach is needed to address the country’s economic challenges.
Musk’s predictions have also drawn criticism from those who view them as politically motivated. As a prominent supporter of Trump, Musk’s comments have been interpreted by some as an attempt to rally support for the former president’s economic agenda. Critics argue that Musk’s focus on austerity measures and government efficiency overlooks the broader social and economic implications of such policies.
Conclusion
Elon Musk’s predictions of economic hardship and a stock market crash if Trump wins the election have sparked significant debate and concern.
While Musk believes that these measures are necessary for long-term prosperity, the potential short-term disruptions and risks cannot be ignored. As the election approaches, investors and policymakers will be closely watching the developments and preparing for the potential economic fallout.
Whether Musk’s predictions come to pass remains to be seen, but his comments have undoubtedly added to the uncertainty and complexity of the current economic landscape and the never-ending ‘commentary surrounding the U.S. election.
Tesla shares climbed 12% in extended trading after the company’s third-quarter earnings beat Wall Street estimates, following a long slump.
However, Tesla’s revenue for that period, up 8% year on year, marginally missed expectations. “Vehicle growth” will hit up to 20%-30% next year, said CEO Elon Musk, thanks to “lower cost vehicles” and the “advent of autonomy.” Apparently, this was presented as a ‘best guess’.
Profit margins reportedly received a boost from $739 million in automotive regulatory credit revenue during the quarter. Automakers must acquire a certain number of regulatory credits annually. Those unable to meet the requirement can buy credits from companies like Tesla, which has a surplus due to its exclusive production of electric vehicles.
Automotive revenue reportedly rose 2% to $20 billion, up from $19.63 billion in the same quarter the previous year, and has remained roughly stable since late 2022. Energy generation and storage revenue reportedly surged 52% to $2.38 billion, while services and other revenue, which includes income from non-warranty Tesla vehicle repairs, increased by 29% to $2.79 billion.
Tesla quarterly revenues by business section
Tesla quarterly revenues by business section
Tesla share price and close and ‘after hours’ trading 23rd October 2024 (09:15 BST)
Tesla share price and close and ‘after hours’ trading 23rd October 2024 (09:15 BST)
Tesla’s stock declined on Friday 11th October 2024 following the electric vehicle maker’s highly anticipated robotaxi event, which left investors unimpressed
£60 billion was wiped off Tesla market cap
CEO Elon Musk showcased the Cybercab concept vehicle, announcing that it would be available for purchase at a price below $30,000.
Analysts reportedly commented that the event did not emphasise any immediate opportunities for Tesla, focusing instead on Musk’s long-term vision for fully autonomous driving.
At the ‘We, Robot’ event on Thursday 10th October 2024, CEO Elon Musk presented the Cybercab, a sleek, silver two-seater without steering wheels or pedals, underscoring his company’s goal to develop a fleet of self-driving vehicles and robots.
Musk expressed his hope for Tesla to start producing the Cybercab by 2027, though he did not specify the manufacturing locations. He reiterated that the Tesla Cybercab would be sold for less than $30,000.
Furthermore, he anticipated that Tesla’s Model 3 and Model Y electric vehicles would feature ‘unsupervised FSD’ operational in Texas and California by next year. FSD, standing for Full Self-Driving, is Tesla’s advanced driver assistance system, currently available in a supervised format.
Investors and analysts were underwhelmed by the event. Tesla shares fell.
Tesla one year chart as of 11th October 2024
Tesla one year chart as of 11th October 2024
Elon Musk’s wealth
Elon Musk is projected to become the world’s first trillionaire by 2027, as per a recent report by Informa Connect Academy. Among global billionaires, Musk is nearest to reaching the 13-figure threshold, with his wealth continuing to increase.
According to the Bloomberg Billionaires Index, Meta CEO Mark Zuckerberg has overtaken Jeff Bezos as the world’s second-richest person
Zuckerberg’s wealth surged by $78 billion in 2024, a rise unmatched by any other member of the index’s 500 richest individuals, thanks to his 13% stake in Meta.
Throughout the year, Wall Street has applauded Meta as the company’s quarterly earnings have consistently exceeded analysts’ expectations.
On Thursday 3rd October 2024, Zuckerberg’s net worth hit $206.2 billion, as per the Bloomberg Billionaires Index, surpassing the $205.1 billion fortune of the ex-Amazon CEO and president. The co-founder of Facebook is now approximately $50 billion behind Tesla’s Elon Musk, according to the index.
Bloomberg Billionaires Index as of 3rd October 2024
Bloomberg Billionaires Index as of 3rd October 2024
Fact: Apparently Mark Zuckerberg says he plans to give away 99% of his Facebook shares.
Total deliveries Q3 2024: 462,890 – Total production Q3 2024: 469,796
Analysts had projected Tesla would deliver 463,310 vehicles by the end of September 2024. However, other sources indicated a larger shortfall; the average analyst predictions were at 469,828 vehicles, while an independent researcher known as ‘Troy Teslike,‘ popular among Tesla enthusiasts, estimated 472,000 deliveries for the quarter.
Comparatively, Tesla reported 435,059 deliveries and 430,488 EVs produced in the same period last year. In the previous quarter, the company achieved 443,956 deliveries and produced 410,831 vehicles.
In the U.S., competitors such as Rivian are advancing, and traditional automakers like Ford and General Motors are increasing their electric vehicle sales, albeit scaling back earlier electrification targets.
Ford announced a 12% increase in EV sales for the third quarter, totaling 23,509 vehicles on Wednesday 2nd October 2024.
General Motors reported a 60% rise in EV sales for the same quarter compared to the previous year, with 32,100 units sold, which represents 4.9% of its total sales volume.
Tesla’s reputation in the U.S. has faced challenges, partly due to CEO Elon Musk’s controversial actions, including endorsing former President Donald Trump and disseminating what has reportedly been described by the White House as ‘racist hate“, along with alleged misinformation about immigration and election fraud on X, his social media platform.
Despite these issues, Tesla remains the leading seller of battery electric vehicles in the U.S., with Hyundai trailing significantly behind.
On Tuesday 6th August 2024, China launched its inaugural batch of internet satellites, which are expected to be part of a constellation designed to compete with SpaceX’s Starlink.
The constellation, named “Thousand Sails,” comprises over 15,000 satellites in low-Earth orbit that are anticipated to provide worldwide internet coverage.
China plans to have 648 satellites in orbit by 2025 as part of the first phase of the constellation’s deployment, aiming to establish a global internet network, as reported by state media CCTV.
The satellite system will be in direct competition with Elon Musk’s Starlink.
Tesla’s shares dropped in U.S. pre-market trading following the electric car maker’s Q2 earnings report, which fell short of expectations.
The company saw a 7% year-on-year decrease in automotive revenue for the June 2024 quarter, down to $19.9 billion, and a decline in its ‘adjusted’ earnings margin.
Investors are divided on Tesla’s stock, with some concerned that the core car business is struggling, while others remain optimistic about Musk’s vision for autonomous driving.
Tesla continues to lead in U.S. electric vehicle sales, yet it’s facing declining market share as competitors emerge, partly due to its older range on offer and Elon Musk’s occasional controversial public statements.
Attention has shifted to other aspects of Tesla’s narrative, such as the anticipated introduction of a new mass-market vehicle to refresh its vehicle lineup. Musk reportedly re-affirmed that Tesla plans to launch an ‘affordable’ car in the upcoming year.
Tesla 3-year share price chart as at: 23rd July 2024
Tesla 3 year share price chart as at: 23rd July 2024
The earnings also highlighted his robotaxi vision. Musk shared his ‘expectation’ of a future where Tesla owners could allow their vehicles to operate in an Uber-like ride-hailing environment, with the cars driving autonomously.
And then we have the prospect for the greatly hyped arrival of Tesla’s humanoid robot due in 2025.
Tesla boss Elon Musk says the electric car maker will start producing and using humanoid robots from next year.
In a social media update, Elon Musk stated that Tesla will initially employ the robots, with plans to commence production for sale by 2026.
He had earlier anticipated that the robot, named Optimus, would be operational in Tesla factories by this year’s end. Additionally, companies such as Honda Rototics and Boston Dynamics are also advancing their humanoid robot technologies.
“Tesla will have genuinely useful humanoid robots in low production for Tesla internal use next year and, hopefully, high production for other companies in 2026,” Mr Musk posted on his social media platform X.
