Perry

All right. So just a very quick math here. This is why this is my simple, dumb business major brain. Uh, there's a thing called PE ratio. Basically what a company is worth about, about what it actually makes in earnings. All right. A company like Ford or most car companies between five and 10. Pretty normal for a stable, mature business.

All right. So just a very quick math here. This is why this is my simple, dumb business major brain. Uh, there's a thing called PE ratio. Basically what a company is worth about, about what it actually makes in earnings. All right. A company like Ford or most car companies between five and 10. Pretty normal for a stable, mature business.

So it's basically an idea for an investor of like how quickly you'll get your money back in a way. And it's based on, if it's a really high number, that means you actually expect the amount they make to go up rapidly because your number is going to wait 20 years. So a company like Apple might be 35 times because it's a high growth tech company. People expect the revenue to keep rising.

So it's basically an idea for an investor of like how quickly you'll get your money back in a way. And it's based on, if it's a really high number, that means you actually expect the amount they make to go up rapidly because your number is going to wait 20 years. So a company like Apple might be 35 times because it's a high growth tech company. People expect the revenue to keep rising.

And all that makes sense because they make $96 billion in profit a year. They're just a cash-generating geyser. Profit. This is after all expenses. I'm being told to stand closer. I'm getting so heated about Apple. I love how much money they make. Google makes $100 billion in profit. Microsoft makes $88 billion. Meta makes $62 billion, up 39%. Amazon makes $59 billion, up 94%.

And all that makes sense because they make $96 billion in profit a year. They're just a cash-generating geyser. Profit. This is after all expenses. I'm being told to stand closer. I'm getting so heated about Apple. I love how much money they make. Google makes $100 billion in profit. Microsoft makes $88 billion. Meta makes $62 billion, up 39%. Amazon makes $59 billion, up 94%.

Nvidia has a PE of 60-something, which is incredibly high, but they're up 144%, making $72 billion pure, clean cash profit. Can you guess what Tesla's profit was last year?

Nvidia has a PE of 60-something, which is incredibly high, but they're up 144%, making $72 billion pure, clean cash profit. Can you guess what Tesla's profit was last year?

No, it's $7 billion. You got to look shocked and be like, I don't know, $50 billion?

No, it's $7 billion. You got to look shocked and be like, I don't know, $50 billion?

It's the magnificent seven, Aiden. They're all seven companies that are considered the big tech companies. All of them generate $50 billion plus in profits except for Tesla, which makes $7 billion a 52% decline. So their profits are way lower and they're declining. So why are they worth 1.5 trillion the way these other companies are? That's my big question.

It's the magnificent seven, Aiden. They're all seven companies that are considered the big tech companies. All of them generate $50 billion plus in profits except for Tesla, which makes $7 billion a 52% decline. So their profits are way lower and they're declining. So why are they worth 1.5 trillion the way these other companies are? That's my big question.

And so now they're only down to 7 to 22 billion, but if you do their PE ratio today, it's still 101. So they're still implying a level of growth that I think is not there.

And so now they're only down to 7 to 22 billion, but if you do their PE ratio today, it's still 101. So they're still implying a level of growth that I think is not there.

Okay. That's right. And again, what they're making, you know, it's $7 billion, but like $2 billion of that was like Bitcoin going up. They hold some Bitcoin. So their actual profits are like closer to $4. And that's just not enough to be worth $720, to be worth more than all those car companies I listed earlier. So that's my core thesis is like, there's so much hopium built into this.

Okay. That's right. And again, what they're making, you know, it's $7 billion, but like $2 billion of that was like Bitcoin going up. They hold some Bitcoin. So their actual profits are like closer to $4. And that's just not enough to be worth $720, to be worth more than all those car companies I listed earlier. So that's my core thesis is like, there's so much hopium built into this.

And so, you know, if you do the math with the normal PE ratio of like an Apple, they're worth about 84 bill based on what they make and based on being valued like a normal tech company. So the rest of that is all this hype of what we're going to talk about later. It's self-driving, it's optimist robots, it's robo taxis, it's a possible new $25,000 car.

And so, you know, if you do the math with the normal PE ratio of like an Apple, they're worth about 84 bill based on what they make and based on being valued like a normal tech company. So the rest of that is all this hype of what we're going to talk about later. It's self-driving, it's optimist robots, it's robo taxis, it's a possible new $25,000 car.

You're already doing your moderator voice.

You're already doing your moderator voice.

All that stuff is what is like being hopiumed in to this massive valuation. And I don't believe it, or I don't believe all of it. You know, maybe it's like some of it might come to vision, but I don't believe those are going to come out to make billions in pure, clean profit the way Apple launching a new iPad or earbuds will do.

All that stuff is what is like being hopiumed in to this massive valuation. And I don't believe it, or I don't believe all of it. You know, maybe it's like some of it might come to vision, but I don't believe those are going to come out to make billions in pure, clean profit the way Apple launching a new iPad or earbuds will do.

That's my, that's my core business thesis here is like, I just, I'm not buying it. And I got to say, Elon Musk, perhaps in the past. has been less than truthful, right? I don't actually, I probably don't have it in here, but he's occasionally over-promised. I think even his biggest fans.

That's my, that's my core business thesis here is like, I just, I'm not buying it. And I got to say, Elon Musk, perhaps in the past. has been less than truthful, right? I don't actually, I probably don't have it in here, but he's occasionally over-promised. I think even his biggest fans.

So that's why I get, you know, if I'm going to invest in POV, I get a little nervous.

So that's why I get, you know, if I'm going to invest in POV, I get a little nervous.

Speaking of sidetracked, every dot on this chart is a tweet. You'll notice after 2022, it gets blood red. He's tweeting thousands of times a month. And, you know, he's got 14 kids. He's got 10 businesses or whatever. It's like, as a Tesla investor, are you really getting his full attention and value as a CEO of a $744 billion company? So... Here's a quote from Elon.

Speaking of sidetracked, every dot on this chart is a tweet. You'll notice after 2022, it gets blood red. He's tweeting thousands of times a month. And, you know, he's got 14 kids. He's got 10 businesses or whatever. It's like, as a Tesla investor, are you really getting his full attention and value as a CEO of a $744 billion company? So... Here's a quote from Elon.

I'll just end on this before we get into our big discussion. He said, when looking at our actual, this is from 2020, and it's kind of like a small interview. I don't think he knew this would go so big, but when looking at our actual profitability, it's very low.

I'll just end on this before we get into our big discussion. He said, when looking at our actual, this is from 2020, and it's kind of like a small interview. I don't think he knew this would go so big, but when looking at our actual profitability, it's very low.

Investors are giving us a lot of credit for future profits, but if at any point they conclude that's not going to happen, our stock will get crushed like a souffle under a sledgehammer. That's what I'm saying. If at any point everybody has the same thought that I do, which is this is not going to happen, this stock is worth so much less than it's currently being valued.

Investors are giving us a lot of credit for future profits, but if at any point they conclude that's not going to happen, our stock will get crushed like a souffle under a sledgehammer. That's what I'm saying. If at any point everybody has the same thought that I do, which is this is not going to happen, this stock is worth so much less than it's currently being valued.

This is right here on a street. I've already claimed it. Hey, I got a question. I asked my chat this. If we could saw off Texas, float it out to the ocean, and then float Australia in where Texas is... First of all, would you do it? And second of all, what do you think it would do to the character of the United States? It would fill up the Gulf of America.

This is right here on a street. I've already claimed it. Hey, I got a question. I asked my chat this. If we could saw off Texas, float it out to the ocean, and then float Australia in where Texas is... First of all, would you do it? And second of all, what do you think it would do to the character of the United States? It would fill up the Gulf of America.

And he's also got one more quote. And this is going to lead to what we're talking about.

And he's also got one more quote. And this is going to lead to what we're talking about.

So that's our argument. Is it worth a lot of money or is it worth basically zero? And I think I can sit back down. That's basically the main thing I want to say.

So that's our argument. Is it worth a lot of money or is it worth basically zero? And I think I can sit back down. That's basically the main thing I want to say.

Yeah. Disclaimer. I'm not a tech guy. And I... I can tell. I have many times been impressed by the tech Tesla's rolled out. Tesla and Elon has rolled out. SpaceX has impressed me with the rocket grab. Starlink has impressed me in some countries where you can get insane internet. I've been impressed by Tesla. Not super recently. I feel like there's been a lot more EV innovation elsewhere.

Yeah. Disclaimer. I'm not a tech guy. And I... I can tell. I have many times been impressed by the tech Tesla's rolled out. Tesla and Elon has rolled out. SpaceX has impressed me with the rocket grab. Starlink has impressed me in some countries where you can get insane internet. I've been impressed by Tesla. Not super recently. I feel like there's been a lot more EV innovation elsewhere.

But, like, Tesla's impressed me to the hell when they came out. So... you know, there's products there and I believe in them, but just, this is my business case of like, I would be so scared to put money into this company is basically what I'm saying.

But, like, Tesla's impressed me to the hell when they came out. So... you know, there's products there and I believe in them, but just, this is my business case of like, I would be so scared to put money into this company is basically what I'm saying.

We've done a souffle.

We've done a souffle.

And by the way, you guys... In my Renault Twizy, I drove huge. I drive in my golf cart to work.

And by the way, you guys... In my Renault Twizy, I drove huge. I drive in my golf cart to work.

We're going to solve it right here on the podcast.

We're going to solve it right here on the podcast.

That's what I hope for this whole show is that one by one, each episode, us three guys solve every problem in America.

That's what I hope for this whole show is that one by one, each episode, us three guys solve every problem in America.

A little dirtier. A little grimier.

A little dirtier. A little grimier.

I want to drive a nice American car. I want a nice Ford. F-150. F-150. In the streets of Paris.

I want to drive a nice American car. I want a nice Ford. F-150. F-150. In the streets of Paris.

Well, I would ask a question. I would say, does my souffle have a chance of killing people? You know what? That's a good point. Is there a little bit of poison in the souffle?

Well, I would ask a question. I would say, does my souffle have a chance of killing people? You know what? That's a good point. Is there a little bit of poison in the souffle?

I win and McDonald's is making money? This is great.

I win and McDonald's is making money? This is great.

You know who's looking for a way out. It's Tucker Carlson. He's number 11, baby. We knocked him out of the top 10. That guy's desperate. I mean, I think it's weird that Vladimir Putin hasn't reached out to do an interview here because we have a bigger reach.

You know who's looking for a way out. It's Tucker Carlson. He's number 11, baby. We knocked him out of the top 10. That guy's desperate. I mean, I think it's weird that Vladimir Putin hasn't reached out to do an interview here because we have a bigger reach.

It wouldn't be as bad because you're not seeing the puppy's face.

It wouldn't be as bad because you're not seeing the puppy's face.

Oh, yeah, yeah, yeah.

Oh, yeah, yeah, yeah.

That's your argument for radar.

That's your argument for radar.

You said if we did that interview, you literally wouldn't do it. Dude, I would be terrified. Honest question. If Vladimir Putin reached out to Lemonade Stand and said he would do an exclusive interview with us in Moscow, you're not- Absolutely, yes.

You said if we did that interview, you literally wouldn't do it. Dude, I would be terrified. Honest question. If Vladimir Putin reached out to Lemonade Stand and said he would do an exclusive interview with us in Moscow, you're not- Absolutely, yes.

That's not what he said. That's not what he said, folks. We've got enough comments.

That's not what he said. That's not what he said, folks. We've got enough comments.

You don't drink the tea. You don't drink the tea. You don't take the free snacks.

You don't drink the tea. You don't drink the tea. You don't take the free snacks.

Well, that settles it. And there it is from the genius. And there's no business reason he might want to cut costs on safety.

Well, that settles it. And there it is from the genius. And there's no business reason he might want to cut costs on safety.

And get value out of all the millions of cars they've already sold.

And get value out of all the millions of cars they've already sold.

Over like the Balkan region.

Over like the Balkan region.

Vladimir Putin on the presentation wall is fire.

Vladimir Putin on the presentation wall is fire.

All right. You got a question?

All right. You got a question?

And that gets to our point later.

And that gets to our point later.

All I want to say is you mentioned that we have only eyes and these have only cameras and we make it work and it's going to be just as good as us. The problem is, I don't know if you know this, humans occasionally make accidents.

All I want to say is you mentioned that we have only eyes and these have only cameras and we make it work and it's going to be just as good as us. The problem is, I don't know if you know this, humans occasionally make accidents.

We occasionally die driving cars.

We occasionally die driving cars.

Vehicle manslaughter.

Vehicle manslaughter.

For most people, that's not good enough.

For most people, that's not good enough.

Mm-hmm. Yeah, that's where I'm at. I just think they're opening themselves up to accidents that will already tarnish a brand that's in trouble with a lot of people. And then one thing I want to mention, one of the things Waymo's been running into is that this is a driverless car. You can get in and get out of it. People don't take care of it the way they would their own car.

Mm-hmm. Yeah, that's where I'm at. I just think they're opening themselves up to accidents that will already tarnish a brand that's in trouble with a lot of people. And then one thing I want to mention, one of the things Waymo's been running into is that this is a driverless car. You can get in and get out of it. People don't take care of it the way they would their own car.

People are often leaving a mess or vandalizing it or leaving problems. Teslas are getting vandalized right now when they're driverless robo taxis. I think the brand issue is core to everything and only going to get worse if they have any accidents at all. They've become even considered as walking death traps.

People are often leaving a mess or vandalizing it or leaving problems. Teslas are getting vandalized right now when they're driverless robo taxis. I think the brand issue is core to everything and only going to get worse if they have any accidents at all. They've become even considered as walking death traps.

I don't see how they can make a mass market... profitable business out of that. And then that doesn't even count the legal part of it. Now, again, I agree. It was smart of Elon Musk to get in with the government because that gives you regulatory access to like make these things the legal right to go on roads. but doesn't cover you for the lawsuit if somebody gets in an accident, gets in trouble.

I don't see how they can make a mass market... profitable business out of that. And then that doesn't even count the legal part of it. Now, again, I agree. It was smart of Elon Musk to get in with the government because that gives you regulatory access to like make these things the legal right to go on roads. but doesn't cover you for the lawsuit if somebody gets in an accident, gets in trouble.

Who's at fault with a self-driving car in that situation? Is it you as the car owner? Is it Tesla? Who's getting these big mass market lawsuits if five accidents happen, if 10 accidents happen? These things are like big problems that are not addressed I don't think solved. And I don't think have a good answer for in a dream profitable future where they're making trillions of dollars off of these.

Who's at fault with a self-driving car in that situation? Is it you as the car owner? Is it Tesla? Who's getting these big mass market lawsuits if five accidents happen, if 10 accidents happen? These things are like big problems that are not addressed I don't think solved. And I don't think have a good answer for in a dream profitable future where they're making trillions of dollars off of these.

I do want to say one thing. And that is that the way most CEOs, I guess, right for right now. But the truth is this happens in business all the time. The products can be different in whatever ways their companies say they are, but they solve the same problem for the consumer. So any consumer doesn't matter. They're a transportation solution. I'm trying to get from point A to point B consistently.

I do want to say one thing. And that is that the way most CEOs, I guess, right for right now. But the truth is this happens in business all the time. The products can be different in whatever ways their companies say they are, but they solve the same problem for the consumer. So any consumer doesn't matter. They're a transportation solution. I'm trying to get from point A to point B consistently.

Whether I'm using Waymo or whether Tesla, the market share is going to one or the other. Like at the end of the day, I'm going to pick one.

Whether I'm using Waymo or whether Tesla, the market share is going to one or the other. Like at the end of the day, I'm going to pick one.

I'm just saying it's like, That problem has to be solved and someone's going to solve it. And they have their own solutions, make them different, but it doesn't matter to me. I'm a consumer. I just want all my shit.

I'm just saying it's like, That problem has to be solved and someone's going to solve it. And they have their own solutions, make them different, but it doesn't matter to me. I'm a consumer. I just want all my shit.

This has no driver's seat, right? Correct.

This has no driver's seat, right? Correct.

Have you seen, I saw a video, I don't know what city this was in, but vandals wanted to basically strip a Waymo. Yeah. And they took... I don't know if it was chalk or whatever, but they just drew white lines and a circle around it. So it looked like street signs. It couldn't move. It was just, it would freeze in place because there's a white circle around it and then they could just do it.

Have you seen, I saw a video, I don't know what city this was in, but vandals wanted to basically strip a Waymo. Yeah. And they took... I don't know if it was chalk or whatever, but they just drew white lines and a circle around it. So it looked like street signs. It couldn't move. It was just, it would freeze in place because there's a white circle around it and then they could just do it.

It would just won't move. I thought that's crazy. I mean, that would be such a sick heist movie in the future. Like all the different- Just stopping all the cars.

It would just won't move. I thought that's crazy. I mean, that would be such a sick heist movie in the future. Like all the different- Just stopping all the cars.

So, compared to every other auto manufacturer... The guy at our basketball pickup game was like, yeah, I turn it on and I scroll TikToks. What?

So, compared to every other auto manufacturer... The guy at our basketball pickup game was like, yeah, I turn it on and I scroll TikToks. What?

I'll do a quick counterpoint.

I'll do a quick counterpoint.

Yeah, at this point, like, when I jump in... My understanding is that is 100% true. They have the most real-world data from the cars. Although, it's not all full self-driving data.

Yeah, at this point, like, when I jump in... My understanding is that is 100% true. They have the most real-world data from the cars. Although, it's not all full self-driving data.

Nvidia had this project for... companies other than Tesla that want to get a self-driving because they're going to handle it for them, which is the NVIDIA Drive Automotive Initiative, whatever. And what they do is they recreate, they send out these cars. They simulate the entire city and then they run digitally billions of simulations. You can set it up for as many things as you want.

Nvidia had this project for... companies other than Tesla that want to get a self-driving because they're going to handle it for them, which is the NVIDIA Drive Automotive Initiative, whatever. And what they do is they recreate, they send out these cars. They simulate the entire city and then they run digitally billions of simulations. You can set it up for as many things as you want.

I'm not sure that clip's real. I think I heard it might have been. It's fake? It might be fake. I've been got? It's not fake, but there's more. God damn, I'm already apologizing.

I'm not sure that clip's real. I think I heard it might have been. It's fake? It might be fake. I've been got? It's not fake, but there's more. God damn, I'm already apologizing.

You could have some car run in front of you or there could be a guy run in front of you. They just run billions of them So you can get more training data in 10 minutes than you can get in the real world in 10 years. That's the idea. And I think that, I don't know the success rate of that, but I do know that I've ridden in those cars and they worked great around San Francisco and San Jose.

You could have some car run in front of you or there could be a guy run in front of you. They just run billions of them So you can get more training data in 10 minutes than you can get in the real world in 10 years. That's the idea. And I think that, I don't know the success rate of that, but I do know that I've ridden in those cars and they worked great around San Francisco and San Jose.

And it's like, there could be something there.

And it's like, there could be something there.

No, this is just, I mean, this is an NVIDIA green car.

No, this is just, I mean, this is an NVIDIA green car.

It's not public. It was just, you could do it at the office.

It's not public. It was just, you could do it at the office.

I see. They're selling the technology to other companies that want to have their own self-driving kind of over the air built in. So I don't know. I don't know if that route makes more sense, but it does seem like it could get around the idea that, okay, we don't have so many cars, but we can digitally recreate this and do more training

I see. They're selling the technology to other companies that want to have their own self-driving kind of over the air built in. So I don't know. I don't know if that route makes more sense, but it does seem like it could get around the idea that, okay, we don't have so many cars, but we can digitally recreate this and do more training

And in the metaverse... Dude, what if the cars wake up from the Matrix and try to get out? They realize they're in a fake street. Kia Sorento is like Neo in the Matrix.

And in the metaverse... Dude, what if the cars wake up from the Matrix and try to get out? They realize they're in a fake street. Kia Sorento is like Neo in the Matrix.

You're so public transport, Sweden-pilled.

You're so public transport, Sweden-pilled.

Ford F-150 on the open road and just let that chopper sing. Just fucking.

Ford F-150 on the open road and just let that chopper sing. Just fucking.

As the cars get bigger, people die. So you need a bigger car to be safer.

As the cars get bigger, people die. So you need a bigger car to be safer.

You can show me, but... We...

You can show me, but... We...

I don't know.

I don't know.

It makes a small difference, right? It's a bus.

It makes a small difference, right? It's a bus.

I don't know if it can fit. But it's more like a bus.

I don't know if it can fit. But it's more like a bus.

Yes, sir. No. Easy money. Yeah, on the internet opinion side, this is the easy side of the argument to be on, but I'm going to try and go at it from a business angle, which is that I am not making the argument that Elon Musk sucks. It doesn't matter to me. Like I mentioned, I talked about this on the stream, I'm not a big fan of Jeff Bezos either, but I own Amazon stock, right?

Yes, sir. No. Easy money. Yeah, on the internet opinion side, this is the easy side of the argument to be on, but I'm going to try and go at it from a business angle, which is that I am not making the argument that Elon Musk sucks. It doesn't matter to me. Like I mentioned, I talked about this on the stream, I'm not a big fan of Jeff Bezos either, but I own Amazon stock, right?

It's even simpler than that. If you just look around, like I was thinking the same thought because when we were in Sweden, we go to the stadium, right up to the stadium, housing, buildings, everything. Yeah. In LA, you go to Dodger Stadium, the parking lot is as far as the eye can see. I think people don't even understand how big it is. It's one of the biggest parking lots in the world.

It's even simpler than that. If you just look around, like I was thinking the same thought because when we were in Sweden, we go to the stadium, right up to the stadium, housing, buildings, everything. Yeah. In LA, you go to Dodger Stadium, the parking lot is as far as the eye can see. I think people don't even understand how big it is. It's one of the biggest parking lots in the world.

It stretches out in all directions.

It stretches out in all directions.

This is a top 10 podcast on Spotify. Your voice here is going to change. Trains will rise up based on the words you're saying.

This is a top 10 podcast on Spotify. Your voice here is going to change. Trains will rise up based on the words you're saying.

I agree with you. It is shitty. But it's not... I'm the anti-Tesla person here, but I don't think it's Tesla's responsibility to fix car culture.

I agree with you. It is shitty. But it's not... I'm the anti-Tesla person here, but I don't think it's Tesla's responsibility to fix car culture.

There's no... Is there a trains guy? We need a trains billionaire.

There's no... Is there a trains guy? We need a trains billionaire.

You're the train guy.

You're the train guy.

You're the conductor.

You're the conductor.

A CF on a global train tour.

A CF on a global train tour.

What I'm saying, I'll make an argument here, is that I think Tesla is in a really negative position going into the future, that I'm not confident in their ability to execute and that they're in a worse spot. That's what I'm going for.

What I'm saying, I'll make an argument here, is that I think Tesla is in a really negative position going into the future, that I'm not confident in their ability to execute and that they're in a worse spot. That's what I'm going for.

Well, I mean, the answer is hype and venture capital are going to go to things that make money. Of course. The only reason you'd build a train, which doesn't really make money for the benefit of consumers, is if your tax money came together and the government decided it's a good idea. Yeah. It's never going to make as much money as.

Well, I mean, the answer is hype and venture capital are going to go to things that make money. Of course. The only reason you'd build a train, which doesn't really make money for the benefit of consumers, is if your tax money came together and the government decided it's a good idea. Yeah. It's never going to make as much money as.

We're going to go on Gavin Newsom's podcast next week, and we're going to get this shit passed.

We're going to go on Gavin Newsom's podcast next week, and we're going to get this shit passed.

He's number five? I think his new podcast is number five.

He's number five? I think his new podcast is number five.

It's all on YouTube, but he's got us on Spotify.

It's all on YouTube, but he's got us on Spotify.

There's going to be bad regulations. There could be good. Right.

There's going to be bad regulations. There could be good. Right.

All right, so Aiden's not going to be buying the self-driving dream, but... Well, let me make an argument for some of the benefits.

All right, so Aiden's not going to be buying the self-driving dream, but... Well, let me make an argument for some of the benefits.

Bring us back.

Bring us back.

You don't have posters on your wall like he does.

You don't have posters on your wall like he does.

I used to commute an hour each way to NVIDIA. Listen, I think, I don't know the math, but the amount of human misery created, extrapolated across all people for all these commutes has got to be something. If you could get an extra hour of sleep in your car, you know what I'm saying? It's incredible. I think that would literally make the world happier.

I used to commute an hour each way to NVIDIA. Listen, I think, I don't know the math, but the amount of human misery created, extrapolated across all people for all these commutes has got to be something. If you could get an extra hour of sleep in your car, you know what I'm saying? It's incredible. I think that would literally make the world happier.

Streetcars like 1930s?

Streetcars like 1930s?

You just said America streetcars are solution. Right. I said, are not, are not the solution.

You just said America streetcars are solution. Right. I said, are not, are not the solution.

I was supposed to listen to you and like respond to what you're saying.

I was supposed to listen to you and like respond to what you're saying.

And that's where it all went wrong is what you're saying.

And that's where it all went wrong is what you're saying.

I got you, Aiden. We go back to the horses.

I got you, Aiden. We go back to the horses.

I had to redo all my globes. It was a pain.

I had to redo all my globes. It was a pain.

But what's your ideal? You want streetcars back? You want trains back? You want...

But what's your ideal? You want streetcars back? You want trains back? You want...

Yeah, I mean, I could jump in. You want to go to the patented presentation wall or do you have something?

Yeah, I mean, I could jump in. You want to go to the patented presentation wall or do you have something?

That's my solution, too. I was going to say, if we just added a single more lane here in LA.

That's my solution, too. I was going to say, if we just added a single more lane here in LA.

If you build a public transportation network in LA and it makes my house in the suburbs less valuable, I will kill you with a gun.

If you build a public transportation network in LA and it makes my house in the suburbs less valuable, I will kill you with a gun.

We use Hyperloop every day now.

We use Hyperloop every day now.

Well, it makes the value go up, so that's worth it.

Well, it makes the value go up, so that's worth it.

I would say my fundamental core argument is it is about how many model wise they sell. Okay.

I would say my fundamental core argument is it is about how many model wise they sell. Okay.

We're actually almost there.

We're actually almost there.

That would actually be so sick. A 50 lane highway. You could just go wherever.

That would actually be so sick. A 50 lane highway. You could just go wherever.

Imagine forgetting your exit and having to merge over 50 lanes.

Imagine forgetting your exit and having to merge over 50 lanes.

Dude zoning out and then fucking. Fucking hard wheeling over 50 lanes. That'd actually be so fun. God, that'd be tight. God, I've no longer trained.

Dude zoning out and then fucking. Fucking hard wheeling over 50 lanes. That'd actually be so fun. God, that'd be tight. God, I've no longer trained.

We're 50 lane.

We're 50 lane.

This is how government actually works. They call it a day.

This is how government actually works. They call it a day.

Everyone backpack one more lane. Where do we land on Tesla? You didn't mention the robots. Maybe we should. Are you going to put money in Tesla stock right now?

Everyone backpack one more lane. Where do we land on Tesla? You didn't mention the robots. Maybe we should. Are you going to put money in Tesla stock right now?

Yeah. My core argument is that, you know, as much as we extrapolate all these different things he's doing, the money that the company makes is from selling cars. That's what it's from. And they're not selling as many cars as they used to sell. So that's a problem, right? And the company, I mean, I can go into my presentation. Can I, should I pull it up?

Yeah. My core argument is that, you know, as much as we extrapolate all these different things he's doing, the money that the company makes is from selling cars. That's what it's from. And they're not selling as many cars as they used to sell. So that's a problem, right? And the company, I mean, I can go into my presentation. Can I, should I pull it up?

I put money down. I'm not buying it in cash because I'm a normal person with a normal job. I put my money down. I loan it. I send it out to do a job. It comes back damaged. Yeah, I mean, there would need to, so that, we're going to have to solve that. You know what I'm saying? You've created all these problems for me as a regular person. I'm not going to, I don't want to be a taxi owner.

I put money down. I'm not buying it in cash because I'm a normal person with a normal job. I put my money down. I loan it. I send it out to do a job. It comes back damaged. Yeah, I mean, there would need to, so that, we're going to have to solve that. You know what I'm saying? You've created all these problems for me as a regular person. I'm not going to, I don't want to be a taxi owner.

I don't own a taxi business.

I don't own a taxi business.

We used to think about having to own 6 million DVDs in our house or whatever. Now we rent it from a service because it's become that distributed and cheap. If cars are self-driving and working everywhere, I don't want to spend $30,000 to own it and then lease it out to people to make money back. I'm just going to use it at the cheap cost when I need to use it. Sure. If it's that distributed.

We used to think about having to own 6 million DVDs in our house or whatever. Now we rent it from a service because it's become that distributed and cheap. If cars are self-driving and working everywhere, I don't want to spend $30,000 to own it and then lease it out to people to make money back. I'm just going to use it at the cheap cost when I need to use it. Sure. If it's that distributed.

Right, right, right. So I think the argument... So I think the argument... I think the...

Right, right, right. So I think the argument... So I think the argument... I think the...

A dog will shit in your car.

A dog will shit in your car.

Even if they had entire Uber, entire Lyft, plus their current valuation, realistic valuation of like 84, they're not even close to what they're worth now. Okay, one more argument.

Even if they had entire Uber, entire Lyft, plus their current valuation, realistic valuation of like 84, they're not even close to what they're worth now. Okay, one more argument.

Plus I love this patented presentation wall. Only you think Tucker Carlson could give a PowerPoint?

Plus I love this patented presentation wall. Only you think Tucker Carlson could give a PowerPoint?

How much am I paying for that today? How much have they shown that makes me trust that's coming out relatively soon, will work, will sell to consumers, will make a profit, will make a... You know what I'm saying?

How much am I paying for that today? How much have they shown that makes me trust that's coming out relatively soon, will work, will sell to consumers, will make a profit, will make a... You know what I'm saying?

Hey! I'm moving over.

Hey! I'm moving over.

Can you imagine having Xi Jinping here for a guest and we're like fumbling with PowerPoint for 15 minutes, right?

Can you imagine having Xi Jinping here for a guest and we're like fumbling with PowerPoint for 15 minutes, right?

I appreciate you giving it to me and I like hearing it. And, uh, and I, again, I don't know. Right. I don't know.

I appreciate you giving it to me and I like hearing it. And, uh, and I, again, I don't know. Right. I don't know.

Yeah.

Yeah.

Can I set this up? So you're not the only one. This might take a sort of pull up, but you... Yeah, here it is. You're not the only one doing what you just did. So is Elon Musk's It's all the executives, right? CFO? I think I got it right.

Can I set this up? So you're not the only one. This might take a sort of pull up, but you... Yeah, here it is. You're not the only one doing what you just did. So is Elon Musk's It's all the executives, right? CFO? I think I got it right.

You got the Tesla chair selling. You got the CFO selling. You got Kimball Musk selling. I did this thing where I looked at Nvidia insider sales. They've got, you know, 1.4 million buys, 2.8 million sales. Most companies will have more sales than buys insider because people get paid in stock and they went off.

You got the Tesla chair selling. You got the CFO selling. You got Kimball Musk selling. I did this thing where I looked at Nvidia insider sales. They've got, you know, 1.4 million buys, 2.8 million sales. Most companies will have more sales than buys insider because people get paid in stock and they went off.

Tesla zero buys. There's not a single Tesla insider buying shares. Everyone is selling. What's the time range on that? This is like three months and 12 months. For over three months, nobody bought? No, I think a regular level employee doesn't get included, but anyone who's like a senior level employee gets counted for this and nobody bought. Over three months or 12 months. They're only selling.

Tesla zero buys. There's not a single Tesla insider buying shares. Everyone is selling. What's the time range on that? This is like three months and 12 months. For over three months, nobody bought? No, I think a regular level employee doesn't get included, but anyone who's like a senior level employee gets counted for this and nobody bought. Over three months or 12 months. They're only selling.

So I think they also understand how much hopium is baked into this stock price That that's my argument.

So I think they also understand how much hopium is baked into this stock price That that's my argument.

And I'm going to hide one. I'll get one in there. All right, I'll go real quick. All right. This is a much longer presentation I did on my own channel, but I want to catch you guys up on what I'm thinking about Tesla lately. All right, here we go. First of all, Texas, we got 44 wheels stolen off a Tesla in the parking lot. We got superchargers on fire in Massachusetts.

And I'm going to hide one. I'll get one in there. All right, I'll go real quick. All right. This is a much longer presentation I did on my own channel, but I want to catch you guys up on what I'm thinking about Tesla lately. All right, here we go. First of all, Texas, we got 44 wheels stolen off a Tesla in the parking lot. We got superchargers on fire in Massachusetts.

So BYD, you know how Tesla for FSD, full self-driving, you have to pay, I think it's eight, 10 grand on top of your car. BYD rolled it out for free to every make and model, even the old ones, their own version. And it's built exclusively for China. So they've planned for certain Chinese things.

So BYD, you know how Tesla for FSD, full self-driving, you have to pay, I think it's eight, 10 grand on top of your car. BYD rolled it out for free to every make and model, even the old ones, their own version. And it's built exclusively for China. So they've planned for certain Chinese things.

Like for example, that China has all these bus and bike lanes with different lines that Tesla can't adapt to with their current method. So this guy, they rolled out FSD and Tesla recently, February of this year. This guy in China tries it, he immediately gets seven tickets in the first ride because it keeps veering into these camera-checked bus lanes and out, and he gets a ticket, gets a ticket.

Like for example, that China has all these bus and bike lanes with different lines that Tesla can't adapt to with their current method. So this guy, they rolled out FSD and Tesla recently, February of this year. This guy in China tries it, he immediately gets seven tickets in the first ride because it keeps veering into these camera-checked bus lanes and out, and he gets a ticket, gets a ticket.

Now, this is all fixable. What I'm saying is, like, BYD is building for their consumer. They know what they have to do.

Now, this is all fixable. What I'm saying is, like, BYD is building for their consumer. They know what they have to do.

You know, he's nervous. And so, you know, again, that makes me worry about their ability to compete in the second biggest market, or actually probably the biggest market.

You know, he's nervous. And so, you know, again, that makes me worry about their ability to compete in the second biggest market, or actually probably the biggest market.

And then the last thing I want to say, because we didn't talk about it much because I don't think it's important or a little bit of discussion. I don't want to make it too political, but like there is a part of it where I'm just, I personally, I think a lot of people are souring on the brand because of Elon Musk's personal antics.

And then the last thing I want to say, because we didn't talk about it much because I don't think it's important or a little bit of discussion. I don't want to make it too political, but like there is a part of it where I'm just, I personally, I think a lot of people are souring on the brand because of Elon Musk's personal antics.

To the point where if there was a comparable thing from someone else or even a slightly worse thing, I might pick that. Like I want to buy an EV soon. I'm not going to buy Tesla probably because of this reason. And I think that alone makes it a harder sell as a business when you're You know what I'm saying?

To the point where if there was a comparable thing from someone else or even a slightly worse thing, I might pick that. Like I want to buy an EV soon. I'm not going to buy Tesla probably because of this reason. And I think that alone makes it a harder sell as a business when you're You know what I'm saying?

Like, I would be scared to be a Bud Light investor during their controversy because the sales went down. Whether or not I agree or disagree, it's like, you know what I'm saying? So that's a big part of it for me, too. It's like, I just feel like there's so much risk baked in, so I don't want to do it. Speaking of things that have possibly controversial brands... Pokemon Go, sweet, safe, loved.

Like, I would be scared to be a Bud Light investor during their controversy because the sales went down. Whether or not I agree or disagree, it's like, you know what I'm saying? So that's a big part of it for me, too. It's like, I just feel like there's so much risk baked in, so I don't want to do it. Speaking of things that have possibly controversial brands... Pokemon Go, sweet, safe, loved.

We got protesters arrested in New York. We got protesters arrested in Georgia. We got paint and vandalism in Berkeley. We got shots fired in Oregon. We got swastikas drawn on cars in Europe. Okay? And three months ago, none of this was happening. Elon Musk, $400 billion, richer than Manta Musa and John D. Rockefeller, richest man in human history.

We got protesters arrested in New York. We got protesters arrested in Georgia. We got paint and vandalism in Berkeley. We got shots fired in Oregon. We got swastikas drawn on cars in Europe. Okay? And three months ago, none of this was happening. Elon Musk, $400 billion, richer than Manta Musa and John D. Rockefeller, richest man in human history.

What we've all been waiting for. Wait, no, no, no.

What we've all been waiting for. Wait, no, no, no.

Elon Musk needed buyers for a new venture where he was buying Tesla. He needed money to borrow for loans. Where did he go? The Saudi Royal Wealth Fund. They are the biggest purchaser other than Elon Musk of the Twitter buyout. They're also buying something new lately. Pokemon Go. That was great. That was really good.

Elon Musk needed buyers for a new venture where he was buying Tesla. He needed money to borrow for loans. Where did he go? The Saudi Royal Wealth Fund. They are the biggest purchaser other than Elon Musk of the Twitter buyout. They're also buying something new lately. Pokemon Go. That was great. That was really good.

That was amazing. Pokemon Go Niantic is being sold to the Saudi Foreign Wealth Fund for three points. Actually, it's being sold to a gaming company owned by a Saudi foreign company. For $3.5 billion. What are your thoughts on that, gentlemen?

That was amazing. Pokemon Go Niantic is being sold to the Saudi Foreign Wealth Fund for three points. Actually, it's being sold to a gaming company owned by a Saudi foreign company. For $3.5 billion. What are your thoughts on that, gentlemen?

Here's also, I got a little background. So Saudi Royal Wealth Fund, they buy everything. You guys, I mean, they've spent money on sports teams, on everything, esport, everything. They've done tons of purchases.

Here's also, I got a little background. So Saudi Royal Wealth Fund, they buy everything. You guys, I mean, they've spent money on sports teams, on everything, esport, everything. They've done tons of purchases.

Yeah, essentially government, it's public money. It's like they have this extra money from oil. Yeah, I mean, they bought ESL, the company I used to work for.

Yeah, essentially government, it's public money. It's like they have this extra money from oil. Yeah, I mean, they bought ESL, the company I used to work for.

They have all this extra oil money and they want to invest it in things that are like future buzzwords, basically. Whether it's EVs, whether it's esports, whatever. They want to have flashy, cool things that are... So when the oil money runs out, they've got all this business going. That's the idea. And so they've been buying gaming companies is one thing.

They have all this extra oil money and they want to invest it in things that are like future buzzwords, basically. Whether it's EVs, whether it's esports, whatever. They want to have flashy, cool things that are... So when the oil money runs out, they've got all this business going. That's the idea. And so they've been buying gaming companies is one thing.

They bought the company that made Monopoly go, and it turns out that made them mint. I don't know if you guys know Monopoly Go. It's not like Monopoly at all. It just looks like Monopoly, but it's like the greatest money extractor game of all time. Like it just, it's got all the loot boxes and puzzles and everything. And they've been printing.

They bought the company that made Monopoly go, and it turns out that made them mint. I don't know if you guys know Monopoly Go. It's not like Monopoly at all. It just looks like Monopoly, but it's like the greatest money extractor game of all time. Like it just, it's got all the loot boxes and puzzles and everything. And they've been printing.

That game is like one of the most profitable games ever.

That game is like one of the most profitable games ever.

I'm so glad you're on this pod, dude. You're like the Winston in Overwatch for the comments.

I'm so glad you're on this pod, dude. You're like the Winston in Overwatch for the comments.

Well, then I didn't finish. What if you're driving through New Mexico to Florida, and then you got to hear somebody say, good night, caba.

Well, then I didn't finish. What if you're driving through New Mexico to Florida, and then you got to hear somebody say, good night, caba.

Richer than every single fictional rich person combined, according to Forbes. Richer than Scrooge McDuck? Much richer than Scrooge McDuck. Significantly richer than Scrooge McDuck. And then in the past three months, Tesla drops 50%, all right? Astronomical amount to drop. It's $800 billion of market cap lost.

Richer than every single fictional rich person combined, according to Forbes. Richer than Scrooge McDuck? Much richer than Scrooge McDuck. Significantly richer than Scrooge McDuck. And then in the past three months, Tesla drops 50%, all right? Astronomical amount to drop. It's $800 billion of market cap lost.

You own so many CSGO knives, it's crazy. Your grandchildren will starve. You're a rich podcaster and your grandchildren will starve because of your investment.

You own so many CSGO knives, it's crazy. Your grandchildren will starve. You're a rich podcaster and your grandchildren will starve because of your investment.

You guys will know the line is at five.

You guys will know the line is at five.

You've got to go to the other end of the line.

You've got to go to the other end of the line.

Yeah, it does feel like flexing. You know, it feels like, is this worth three and a half billion? Pokemon goes down from its peak. The people that are using it said if they change microtransactions on Pokemon, People always say that. You don't know. Pokemon fans are not leaving. I'm sorry.

Yeah, it does feel like flexing. You know, it feels like, is this worth three and a half billion? Pokemon goes down from its peak. The people that are using it said if they change microtransactions on Pokemon, People always say that. You don't know. Pokemon fans are not leaving. I'm sorry.

They're not going to go away. I don't know. I don't know what I mean, but there's definitely a lot of pushback and anger and fear from the community. From the Pokemon Go community. They don't want to change anything. They want everything to be... They do it all the time. They've been doing it for years and years and years. They're worried about change.

They're not going to go away. I don't know. I don't know what I mean, but there's definitely a lot of pushback and anger and fear from the community. From the Pokemon Go community. They don't want to change anything. They want everything to be... They do it all the time. They've been doing it for years and years and years. They're worried about change.

That's equivalent to, I'm going to skip ahead here, Toyota, Mazda, Subaru, Ford, Nissan, Rivian, Honda, Ferrari, Porsche, Mercedes-Benz, Aston Martin, Hyundai, Kia, VW, GM, and BMW combined all going to zero in three months. And then lighting $10 billion on fire on top of that. So it's, you know, it's a significant loss. Like, it's worth talking about.

That's equivalent to, I'm going to skip ahead here, Toyota, Mazda, Subaru, Ford, Nissan, Rivian, Honda, Ferrari, Porsche, Mercedes-Benz, Aston Martin, Hyundai, Kia, VW, GM, and BMW combined all going to zero in three months. And then lighting $10 billion on fire on top of that. So it's, you know, it's a significant loss. Like, it's worth talking about.

Three non-coders talked about vibe coding.

Three non-coders talked about vibe coding.

Can you give me like a one-cented summary? I would love to hear what kind of breakthroughs you guys came to. I don't know if... What did Slime have to say about vibe coding? What are the...

Can you give me like a one-cented summary? I would love to hear what kind of breakthroughs you guys came to. I don't know if... What did Slime have to say about vibe coding? What are the...

You just have to go to the Patreon.

You just have to go to the Patreon.

You can kick it off. I mean, look, my answer to this is I'm not a coder, so I haven't tried vibe coding. I don't know the difference. But my understanding is that the games that have been made so far are pretty slop. Yeah. One of them I know made it. It was like an MMO flying game. This guy... He has a big audience. Dude, he made it. It made a lot of money.

You can kick it off. I mean, look, my answer to this is I'm not a coder, so I haven't tried vibe coding. I don't know the difference. But my understanding is that the games that have been made so far are pretty slop. Yeah. One of them I know made it. It was like an MMO flying game. This guy... He has a big audience. Dude, he made it. It made a lot of money.

From a business POV, for me, it's fascinating. Because that's not normal. That's like, that's... I think about something like Enron collapsing, that was like $20 billion. That's nothing by comparison. So... So it's a big deal. And you could say, if I asked why, people might show you this clip of Elon possibly seek high link, possibly Roman saluting.

From a business POV, for me, it's fascinating. Because that's not normal. That's like, that's... I think about something like Enron collapsing, that was like $20 billion. That's nothing by comparison. So... So it's a big deal. And you could say, if I asked why, people might show you this clip of Elon possibly seek high link, possibly Roman saluting.

It was making like 100K a week or something. It was like printing money. And it was like, I tried it. It was really sloppy. But it was like, you know, a kid could play. You're playing. So there could be potential there. Right now, as a gamer, I see such a drastic gulf between. I mean, it just has. Yes.

It was making like 100K a week or something. It was like printing money. And it was like, I tried it. It was really sloppy. But it was like, you know, a kid could play. You're playing. So there could be potential there. Right now, as a gamer, I see such a drastic gulf between. I mean, it just has. Yes.

There's so many issues and edge cases that come up that you don't get fixed that I think it's kind of crap. But.

There's so many issues and edge cases that come up that you don't get fixed that I think it's kind of crap. But.

That's what they made Red Dead Redemption 2.

That's what they made Red Dead Redemption 2.

And, you know, you could point to that as one political thing, but I want to go into a deeper business context, which is that basically, sorry, skip, skip this. Like you had the Iron Man 2 screenshot in there? Yeah, you could point to him being Iron Man. You could point to him cheating in Path of Exile. You could point to all that.

And, you know, you could point to that as one political thing, but I want to go into a deeper business context, which is that basically, sorry, skip, skip this. Like you had the Iron Man 2 screenshot in there? Yeah, you could point to him being Iron Man. You could point to him cheating in Path of Exile. You could point to all that.

what's worth it or not. People just decided by playing it. Whatever's fun, they'll play.

what's worth it or not. People just decided by playing it. Whatever's fun, they'll play.

I'm going to read every single comment about Doug wanting to take your jobs.

I'm going to read every single comment about Doug wanting to take your jobs.

Yeah. Over the top of any... He wants to take our jobs and give them to Elon Musk.

Yeah. Over the top of any... He wants to take our jobs and give them to Elon Musk.

But the whole point is that regardless of what you think about all this stuff, it's causing a reputational problem with a certain class of consumer. And these people used to buy a lot of EVs. So in every country they sell in other than China, Tesla's reputation score keeps falling. For a business, regardless of politics, that's just bad, right? That just means it's harder to sell cars.

But the whole point is that regardless of what you think about all this stuff, it's causing a reputational problem with a certain class of consumer. And these people used to buy a lot of EVs. So in every country they sell in other than China, Tesla's reputation score keeps falling. For a business, regardless of politics, that's just bad, right? That just means it's harder to sell cars.

Especially when, if you do the math, and I got a little craft here... I mean, Aiden, do you want to guess what the top 10 states that bought EVs voted for in this election? Would you think they were blue or red?

Especially when, if you do the math, and I got a little craft here... I mean, Aiden, do you want to guess what the top 10 states that bought EVs voted for in this election? Would you think they were blue or red?

They were all blue. This is a 2020 election. I don't have the data for it. And then what do you think about the 10 states that bought the least EVs? I mean, they were red. They're red. They're red. Yeah, you guessed it right. They're red. So it's like even if you're switching one consumer for the other, in the states that are red, they're just buying. They don't care as much about EVs.

They were all blue. This is a 2020 election. I don't have the data for it. And then what do you think about the 10 states that bought the least EVs? I mean, they were red. They're red. They're red. Yeah, you guessed it right. They're red. So it's like even if you're switching one consumer for the other, in the states that are red, they're just buying. They don't care as much about EVs.

Their town's not even as many chargers. The infrastructure's not there. They don't care as much. And so it's not a one-to-one trade to piss off one group for the other if you're an EV car selling company. So... I got this poll here. 55% of Republicans say there's no chance at all they'd ever buy an EV in the next decade. That's a tough market to sell into. That's a hard pivot. If you sell cars,

Their town's not even as many chargers. The infrastructure's not there. They don't care as much. And so it's not a one-to-one trade to piss off one group for the other if you're an EV car selling company. So... I got this poll here. 55% of Republicans say there's no chance at all they'd ever buy an EV in the next decade. That's a tough market to sell into. That's a hard pivot. If you sell cars,

All right, second thing, we're possibly entering a recession and late car payments right now, this article's from like three days ago, have hit the highest level since they started recording the data. So people just are not making their car payments, especially subprime, which makes it a weird time for Tesla to be offering 0% down, 0% APR loans. It's like 2006 for housing, dude.

All right, second thing, we're possibly entering a recession and late car payments right now, this article's from like three days ago, have hit the highest level since they started recording the data. So people just are not making their car payments, especially subprime, which makes it a weird time for Tesla to be offering 0% down, 0% APR loans. It's like 2006 for housing, dude.

They're just doing a bunch of this like car giveaway that I think will be problematic if people can't pay their bills. So from a business side, all this stuff makes me nervous about investing in Tesla, right? Then I looked at the top 10 countries they sell in. It's down 76% in Germany, down 63% in France, down 70% in Canada, down 81% in Australia, down 38% in Norway, 44% in Sweden.

They're just doing a bunch of this like car giveaway that I think will be problematic if people can't pay their bills. So from a business side, all this stuff makes me nervous about investing in Tesla, right? Then I looked at the top 10 countries they sell in. It's down 76% in Germany, down 63% in France, down 70% in Canada, down 81% in Australia, down 38% in Norway, 44% in Sweden.

It's going to come up later, so I'm going to interject.

It's going to come up later, so I'm going to interject.

I'm defending it now because you're making me mad. Wouldn't it add some charm to America? We don't have enough accents, first of all.

I'm defending it now because you're making me mad. Wouldn't it add some charm to America? We don't have enough accents, first of all.

And it's also worth saying, like, if your Q1 sales are down from Q4, well, Q4 is the end of the year. People make big purchases, Christmas time. Yeah. Of course they're going to be down. But this is a pretty, this is not a normal amount of drop. And they're down year over year, too. So they're down over January of last year. They're down, they're just down.

And it's also worth saying, like, if your Q1 sales are down from Q4, well, Q4 is the end of the year. People make big purchases, Christmas time. Yeah. Of course they're going to be down. But this is a pretty, this is not a normal amount of drop. And they're down year over year, too. So they're down over January of last year. They're down, they're just down.

So, you know, outside of the UK, 9 out of 10 of these countries, it's down, right? So that's a bad look in general. And I think it's because, listen, in China, nobody cares about Musk's politics. They don't care. They actually think he's the coolest tech guy. They still think he's Tony Stark.

So, you know, outside of the UK, 9 out of 10 of these countries, it's down, right? So that's a bad look in general. And I think it's because, listen, in China, nobody cares about Musk's politics. They don't care. They actually think he's the coolest tech guy. They still think he's Tony Stark.

No. On Billy Billy, he's still based, okay?

No. On Billy Billy, he's still based, okay?

They still think he's Iron Man. But the problem is, you know, there's other Ironmans now in China, which is mainly this company, BYD, Build Your Dreams, who is offering Tesla-like cars for way less that are built for the Chinese market. So they have... just massively outstripped Tesla sales recently.

They still think he's Iron Man. But the problem is, you know, there's other Ironmans now in China, which is mainly this company, BYD, Build Your Dreams, who is offering Tesla-like cars for way less that are built for the Chinese market. So they have... just massively outstripped Tesla sales recently.

And because they're made in China, they're built by a Chinese company that knows what Chinese consumers want. They're just getting out-competed. So that's like another pressure on Tesla that makes me scared again to be an investor.

And because they're made in China, they're built by a Chinese company that knows what Chinese consumers want. They're just getting out-competed. So that's like another pressure on Tesla that makes me scared again to be an investor.

I just feel like TikTok is ruined.

I just feel like TikTok is ruined.

Okay.

Okay.

I was considering driving down to Mexico, buying a Chinese EV and smuggling it back into the United States to not pay the tariff. And then I looked up what would happen to me. The fine is astronomical and I could get jail time for smuggling. That's worth it. Do it for the pod, dude. Research. I really thought it'd be like a minor slap on the wrist.

I was considering driving down to Mexico, buying a Chinese EV and smuggling it back into the United States to not pay the tariff. And then I looked up what would happen to me. The fine is astronomical and I could get jail time for smuggling. That's worth it. Do it for the pod, dude. Research. I really thought it'd be like a minor slap on the wrist.

Is it European?

Is it European?

All right. So just a very quick math here. This is why this is my simple, dumb business major brain. Uh, there's a thing called PE ratio. Basically what a company is worth about, about what it actually makes in earnings. All right. A company like Ford or most car companies between five and 10. Pretty normal for a stable, mature business.

So it's basically an idea for an investor of like how quickly you'll get your money back in a way. And it's based on, if it's a really high number, that means you actually expect the amount they make to go up rapidly because your number is going to wait 20 years. So a company like Apple might be 35 times because it's a high growth tech company. People expect the revenue to keep rising.

And all that makes sense because they make $96 billion in profit a year. They're just a cash-generating geyser. Profit. This is after all expenses. I'm being told to stand closer. I'm getting so heated about Apple. I love how much money they make. Google makes $100 billion in profit. Microsoft makes $88 billion. Meta makes $62 billion, up 39%. Amazon makes $59 billion, up 94%.

Nvidia has a PE of 60-something, which is incredibly high, but they're up 144%, making $72 billion pure, clean cash profit. Can you guess what Tesla's profit was last year?

No, it's $7 billion. You got to look shocked and be like, I don't know, $50 billion?

It's the magnificent seven, Aiden. They're all seven companies that are considered the big tech companies. All of them generate $50 billion plus in profits except for Tesla, which makes $7 billion a 52% decline. So their profits are way lower and they're declining. So why are they worth 1.5 trillion the way these other companies are? That's my big question.

And so now they're only down to 7 to 22 billion, but if you do their PE ratio today, it's still 101. So they're still implying a level of growth that I think is not there.

Okay. That's right. And again, what they're making, you know, it's $7 billion, but like $2 billion of that was like Bitcoin going up. They hold some Bitcoin. So their actual profits are like closer to $4. And that's just not enough to be worth $720, to be worth more than all those car companies I listed earlier. So that's my core thesis is like, there's so much hopium built into this.

And so, you know, if you do the math with the normal PE ratio of like an Apple, they're worth about 84 bill based on what they make and based on being valued like a normal tech company. So the rest of that is all this hype of what we're going to talk about later. It's self-driving, it's optimist robots, it's robo taxis, it's a possible new $25,000 car.

You're already doing your moderator voice.

All that stuff is what is like being hopiumed in to this massive valuation. And I don't believe it, or I don't believe all of it. You know, maybe it's like some of it might come to vision, but I don't believe those are going to come out to make billions in pure, clean profit the way Apple launching a new iPad or earbuds will do.

That's my, that's my core business thesis here is like, I just, I'm not buying it. And I got to say, Elon Musk, perhaps in the past. has been less than truthful, right? I don't actually, I probably don't have it in here, but he's occasionally over-promised. I think even his biggest fans.

So that's why I get, you know, if I'm going to invest in POV, I get a little nervous.

Speaking of sidetracked, every dot on this chart is a tweet. You'll notice after 2022, it gets blood red. He's tweeting thousands of times a month. And, you know, he's got 14 kids. He's got 10 businesses or whatever. It's like, as a Tesla investor, are you really getting his full attention and value as a CEO of a $744 billion company? So... Here's a quote from Elon.

I'll just end on this before we get into our big discussion. He said, when looking at our actual, this is from 2020, and it's kind of like a small interview. I don't think he knew this would go so big, but when looking at our actual profitability, it's very low.

Investors are giving us a lot of credit for future profits, but if at any point they conclude that's not going to happen, our stock will get crushed like a souffle under a sledgehammer. That's what I'm saying. If at any point everybody has the same thought that I do, which is this is not going to happen, this stock is worth so much less than it's currently being valued.

This is right here on a street. I've already claimed it. Hey, I got a question. I asked my chat this. If we could saw off Texas, float it out to the ocean, and then float Australia in where Texas is... First of all, would you do it? And second of all, what do you think it would do to the character of the United States? It would fill up the Gulf of America.

And he's also got one more quote. And this is going to lead to what we're talking about.

So that's our argument. Is it worth a lot of money or is it worth basically zero? And I think I can sit back down. That's basically the main thing I want to say.

Yeah. Disclaimer. I'm not a tech guy. And I... I can tell. I have many times been impressed by the tech Tesla's rolled out. Tesla and Elon has rolled out. SpaceX has impressed me with the rocket grab. Starlink has impressed me in some countries where you can get insane internet. I've been impressed by Tesla. Not super recently. I feel like there's been a lot more EV innovation elsewhere.

But, like, Tesla's impressed me to the hell when they came out. So... you know, there's products there and I believe in them, but just, this is my business case of like, I would be so scared to put money into this company is basically what I'm saying.

We've done a souffle.

And by the way, you guys... In my Renault Twizy, I drove huge. I drive in my golf cart to work.

We're going to solve it right here on the podcast.

That's what I hope for this whole show is that one by one, each episode, us three guys solve every problem in America.

A little dirtier. A little grimier.

I want to drive a nice American car. I want a nice Ford. F-150. F-150. In the streets of Paris.

Well, I would ask a question. I would say, does my souffle have a chance of killing people? You know what? That's a good point. Is there a little bit of poison in the souffle?

I win and McDonald's is making money? This is great.

You know who's looking for a way out. It's Tucker Carlson. He's number 11, baby. We knocked him out of the top 10. That guy's desperate. I mean, I think it's weird that Vladimir Putin hasn't reached out to do an interview here because we have a bigger reach.

It wouldn't be as bad because you're not seeing the puppy's face.

Oh, yeah, yeah, yeah.

That's your argument for radar.

You said if we did that interview, you literally wouldn't do it. Dude, I would be terrified. Honest question. If Vladimir Putin reached out to Lemonade Stand and said he would do an exclusive interview with us in Moscow, you're not- Absolutely, yes.

That's not what he said. That's not what he said, folks. We've got enough comments.

You don't drink the tea. You don't drink the tea. You don't take the free snacks.

Well, that settles it. And there it is from the genius. And there's no business reason he might want to cut costs on safety.

And get value out of all the millions of cars they've already sold.

Over like the Balkan region.

Vladimir Putin on the presentation wall is fire.

All right. You got a question?

And that gets to our point later.

All I want to say is you mentioned that we have only eyes and these have only cameras and we make it work and it's going to be just as good as us. The problem is, I don't know if you know this, humans occasionally make accidents.

We occasionally die driving cars.

Vehicle manslaughter.

For most people, that's not good enough.

Mm-hmm. Yeah, that's where I'm at. I just think they're opening themselves up to accidents that will already tarnish a brand that's in trouble with a lot of people. And then one thing I want to mention, one of the things Waymo's been running into is that this is a driverless car. You can get in and get out of it. People don't take care of it the way they would their own car.

People are often leaving a mess or vandalizing it or leaving problems. Teslas are getting vandalized right now when they're driverless robo taxis. I think the brand issue is core to everything and only going to get worse if they have any accidents at all. They've become even considered as walking death traps.

I don't see how they can make a mass market... profitable business out of that. And then that doesn't even count the legal part of it. Now, again, I agree. It was smart of Elon Musk to get in with the government because that gives you regulatory access to like make these things the legal right to go on roads. but doesn't cover you for the lawsuit if somebody gets in an accident, gets in trouble.

Who's at fault with a self-driving car in that situation? Is it you as the car owner? Is it Tesla? Who's getting these big mass market lawsuits if five accidents happen, if 10 accidents happen? These things are like big problems that are not addressed I don't think solved. And I don't think have a good answer for in a dream profitable future where they're making trillions of dollars off of these.

I do want to say one thing. And that is that the way most CEOs, I guess, right for right now. But the truth is this happens in business all the time. The products can be different in whatever ways their companies say they are, but they solve the same problem for the consumer. So any consumer doesn't matter. They're a transportation solution. I'm trying to get from point A to point B consistently.

Whether I'm using Waymo or whether Tesla, the market share is going to one or the other. Like at the end of the day, I'm going to pick one.

I'm just saying it's like, That problem has to be solved and someone's going to solve it. And they have their own solutions, make them different, but it doesn't matter to me. I'm a consumer. I just want all my shit.

This has no driver's seat, right? Correct.

Have you seen, I saw a video, I don't know what city this was in, but vandals wanted to basically strip a Waymo. Yeah. And they took... I don't know if it was chalk or whatever, but they just drew white lines and a circle around it. So it looked like street signs. It couldn't move. It was just, it would freeze in place because there's a white circle around it and then they could just do it.

It would just won't move. I thought that's crazy. I mean, that would be such a sick heist movie in the future. Like all the different- Just stopping all the cars.

So, compared to every other auto manufacturer... The guy at our basketball pickup game was like, yeah, I turn it on and I scroll TikToks. What?

I'll do a quick counterpoint.

Yeah, at this point, like, when I jump in... My understanding is that is 100% true. They have the most real-world data from the cars. Although, it's not all full self-driving data.

Nvidia had this project for... companies other than Tesla that want to get a self-driving because they're going to handle it for them, which is the NVIDIA Drive Automotive Initiative, whatever. And what they do is they recreate, they send out these cars. They simulate the entire city and then they run digitally billions of simulations. You can set it up for as many things as you want.

I'm not sure that clip's real. I think I heard it might have been. It's fake? It might be fake. I've been got? It's not fake, but there's more. God damn, I'm already apologizing.

You could have some car run in front of you or there could be a guy run in front of you. They just run billions of them So you can get more training data in 10 minutes than you can get in the real world in 10 years. That's the idea. And I think that, I don't know the success rate of that, but I do know that I've ridden in those cars and they worked great around San Francisco and San Jose.

And it's like, there could be something there.

No, this is just, I mean, this is an NVIDIA green car.

It's not public. It was just, you could do it at the office.

I see. They're selling the technology to other companies that want to have their own self-driving kind of over the air built in. So I don't know. I don't know if that route makes more sense, but it does seem like it could get around the idea that, okay, we don't have so many cars, but we can digitally recreate this and do more training

And in the metaverse... Dude, what if the cars wake up from the Matrix and try to get out? They realize they're in a fake street. Kia Sorento is like Neo in the Matrix.

You're so public transport, Sweden-pilled.

Ford F-150 on the open road and just let that chopper sing. Just fucking.

As the cars get bigger, people die. So you need a bigger car to be safer.

You can show me, but... We...

I don't know.

It makes a small difference, right? It's a bus.

I don't know if it can fit. But it's more like a bus.

Yes, sir. No. Easy money. Yeah, on the internet opinion side, this is the easy side of the argument to be on, but I'm going to try and go at it from a business angle, which is that I am not making the argument that Elon Musk sucks. It doesn't matter to me. Like I mentioned, I talked about this on the stream, I'm not a big fan of Jeff Bezos either, but I own Amazon stock, right?

It's even simpler than that. If you just look around, like I was thinking the same thought because when we were in Sweden, we go to the stadium, right up to the stadium, housing, buildings, everything. Yeah. In LA, you go to Dodger Stadium, the parking lot is as far as the eye can see. I think people don't even understand how big it is. It's one of the biggest parking lots in the world.

It stretches out in all directions.

This is a top 10 podcast on Spotify. Your voice here is going to change. Trains will rise up based on the words you're saying.

I agree with you. It is shitty. But it's not... I'm the anti-Tesla person here, but I don't think it's Tesla's responsibility to fix car culture.

There's no... Is there a trains guy? We need a trains billionaire.

You're the train guy.

You're the conductor.

A CF on a global train tour.

What I'm saying, I'll make an argument here, is that I think Tesla is in a really negative position going into the future, that I'm not confident in their ability to execute and that they're in a worse spot. That's what I'm going for.

Well, I mean, the answer is hype and venture capital are going to go to things that make money. Of course. The only reason you'd build a train, which doesn't really make money for the benefit of consumers, is if your tax money came together and the government decided it's a good idea. Yeah. It's never going to make as much money as.

We're going to go on Gavin Newsom's podcast next week, and we're going to get this shit passed.

He's number five? I think his new podcast is number five.

It's all on YouTube, but he's got us on Spotify.

There's going to be bad regulations. There could be good. Right.

All right, so Aiden's not going to be buying the self-driving dream, but... Well, let me make an argument for some of the benefits.

Bring us back.

You don't have posters on your wall like he does.

I used to commute an hour each way to NVIDIA. Listen, I think, I don't know the math, but the amount of human misery created, extrapolated across all people for all these commutes has got to be something. If you could get an extra hour of sleep in your car, you know what I'm saying? It's incredible. I think that would literally make the world happier.

Streetcars like 1930s?

You just said America streetcars are solution. Right. I said, are not, are not the solution.

I was supposed to listen to you and like respond to what you're saying.

And that's where it all went wrong is what you're saying.

I got you, Aiden. We go back to the horses.

I had to redo all my globes. It was a pain.

But what's your ideal? You want streetcars back? You want trains back? You want...

Yeah, I mean, I could jump in. You want to go to the patented presentation wall or do you have something?

That's my solution, too. I was going to say, if we just added a single more lane here in LA.

If you build a public transportation network in LA and it makes my house in the suburbs less valuable, I will kill you with a gun.

We use Hyperloop every day now.

Well, it makes the value go up, so that's worth it.

I would say my fundamental core argument is it is about how many model wise they sell. Okay.

We're actually almost there.

That would actually be so sick. A 50 lane highway. You could just go wherever.

Imagine forgetting your exit and having to merge over 50 lanes.

Dude zoning out and then fucking. Fucking hard wheeling over 50 lanes. That'd actually be so fun. God, that'd be tight. God, I've no longer trained.

We're 50 lane.

This is how government actually works. They call it a day.

Everyone backpack one more lane. Where do we land on Tesla? You didn't mention the robots. Maybe we should. Are you going to put money in Tesla stock right now?

Yeah. My core argument is that, you know, as much as we extrapolate all these different things he's doing, the money that the company makes is from selling cars. That's what it's from. And they're not selling as many cars as they used to sell. So that's a problem, right? And the company, I mean, I can go into my presentation. Can I, should I pull it up?

I put money down. I'm not buying it in cash because I'm a normal person with a normal job. I put my money down. I loan it. I send it out to do a job. It comes back damaged. Yeah, I mean, there would need to, so that, we're going to have to solve that. You know what I'm saying? You've created all these problems for me as a regular person. I'm not going to, I don't want to be a taxi owner.

I don't own a taxi business.

We used to think about having to own 6 million DVDs in our house or whatever. Now we rent it from a service because it's become that distributed and cheap. If cars are self-driving and working everywhere, I don't want to spend $30,000 to own it and then lease it out to people to make money back. I'm just going to use it at the cheap cost when I need to use it. Sure. If it's that distributed.

Right, right, right. So I think the argument... So I think the argument... I think the...

A dog will shit in your car.

Even if they had entire Uber, entire Lyft, plus their current valuation, realistic valuation of like 84, they're not even close to what they're worth now. Okay, one more argument.

Plus I love this patented presentation wall. Only you think Tucker Carlson could give a PowerPoint?

How much am I paying for that today? How much have they shown that makes me trust that's coming out relatively soon, will work, will sell to consumers, will make a profit, will make a... You know what I'm saying?

Hey! I'm moving over.

Can you imagine having Xi Jinping here for a guest and we're like fumbling with PowerPoint for 15 minutes, right?

I appreciate you giving it to me and I like hearing it. And, uh, and I, again, I don't know. Right. I don't know.

Yeah.

Can I set this up? So you're not the only one. This might take a sort of pull up, but you... Yeah, here it is. You're not the only one doing what you just did. So is Elon Musk's It's all the executives, right? CFO? I think I got it right.

You got the Tesla chair selling. You got the CFO selling. You got Kimball Musk selling. I did this thing where I looked at Nvidia insider sales. They've got, you know, 1.4 million buys, 2.8 million sales. Most companies will have more sales than buys insider because people get paid in stock and they went off.

Tesla zero buys. There's not a single Tesla insider buying shares. Everyone is selling. What's the time range on that? This is like three months and 12 months. For over three months, nobody bought? No, I think a regular level employee doesn't get included, but anyone who's like a senior level employee gets counted for this and nobody bought. Over three months or 12 months. They're only selling.

So I think they also understand how much hopium is baked into this stock price That that's my argument.

And I'm going to hide one. I'll get one in there. All right, I'll go real quick. All right. This is a much longer presentation I did on my own channel, but I want to catch you guys up on what I'm thinking about Tesla lately. All right, here we go. First of all, Texas, we got 44 wheels stolen off a Tesla in the parking lot. We got superchargers on fire in Massachusetts.

So BYD, you know how Tesla for FSD, full self-driving, you have to pay, I think it's eight, 10 grand on top of your car. BYD rolled it out for free to every make and model, even the old ones, their own version. And it's built exclusively for China. So they've planned for certain Chinese things.

Like for example, that China has all these bus and bike lanes with different lines that Tesla can't adapt to with their current method. So this guy, they rolled out FSD and Tesla recently, February of this year. This guy in China tries it, he immediately gets seven tickets in the first ride because it keeps veering into these camera-checked bus lanes and out, and he gets a ticket, gets a ticket.

Now, this is all fixable. What I'm saying is, like, BYD is building for their consumer. They know what they have to do.

You know, he's nervous. And so, you know, again, that makes me worry about their ability to compete in the second biggest market, or actually probably the biggest market.

And then the last thing I want to say, because we didn't talk about it much because I don't think it's important or a little bit of discussion. I don't want to make it too political, but like there is a part of it where I'm just, I personally, I think a lot of people are souring on the brand because of Elon Musk's personal antics.

To the point where if there was a comparable thing from someone else or even a slightly worse thing, I might pick that. Like I want to buy an EV soon. I'm not going to buy Tesla probably because of this reason. And I think that alone makes it a harder sell as a business when you're You know what I'm saying?

Like, I would be scared to be a Bud Light investor during their controversy because the sales went down. Whether or not I agree or disagree, it's like, you know what I'm saying? So that's a big part of it for me, too. It's like, I just feel like there's so much risk baked in, so I don't want to do it. Speaking of things that have possibly controversial brands... Pokemon Go, sweet, safe, loved.

We got protesters arrested in New York. We got protesters arrested in Georgia. We got paint and vandalism in Berkeley. We got shots fired in Oregon. We got swastikas drawn on cars in Europe. Okay? And three months ago, none of this was happening. Elon Musk, $400 billion, richer than Manta Musa and John D. Rockefeller, richest man in human history.

What we've all been waiting for. Wait, no, no, no.

Elon Musk needed buyers for a new venture where he was buying Tesla. He needed money to borrow for loans. Where did he go? The Saudi Royal Wealth Fund. They are the biggest purchaser other than Elon Musk of the Twitter buyout. They're also buying something new lately. Pokemon Go. That was great. That was really good.

That was amazing. Pokemon Go Niantic is being sold to the Saudi Foreign Wealth Fund for three points. Actually, it's being sold to a gaming company owned by a Saudi foreign company. For $3.5 billion. What are your thoughts on that, gentlemen?

Here's also, I got a little background. So Saudi Royal Wealth Fund, they buy everything. You guys, I mean, they've spent money on sports teams, on everything, esport, everything. They've done tons of purchases.

Yeah, essentially government, it's public money. It's like they have this extra money from oil. Yeah, I mean, they bought ESL, the company I used to work for.

They have all this extra oil money and they want to invest it in things that are like future buzzwords, basically. Whether it's EVs, whether it's esports, whatever. They want to have flashy, cool things that are... So when the oil money runs out, they've got all this business going. That's the idea. And so they've been buying gaming companies is one thing.

They bought the company that made Monopoly go, and it turns out that made them mint. I don't know if you guys know Monopoly Go. It's not like Monopoly at all. It just looks like Monopoly, but it's like the greatest money extractor game of all time. Like it just, it's got all the loot boxes and puzzles and everything. And they've been printing.

That game is like one of the most profitable games ever.

I'm so glad you're on this pod, dude. You're like the Winston in Overwatch for the comments.

Well, then I didn't finish. What if you're driving through New Mexico to Florida, and then you got to hear somebody say, good night, caba.

Richer than every single fictional rich person combined, according to Forbes. Richer than Scrooge McDuck? Much richer than Scrooge McDuck. Significantly richer than Scrooge McDuck. And then in the past three months, Tesla drops 50%, all right? Astronomical amount to drop. It's $800 billion of market cap lost.

You own so many CSGO knives, it's crazy. Your grandchildren will starve. You're a rich podcaster and your grandchildren will starve because of your investment.

You guys will know the line is at five.

You've got to go to the other end of the line.

Yeah, it does feel like flexing. You know, it feels like, is this worth three and a half billion? Pokemon goes down from its peak. The people that are using it said if they change microtransactions on Pokemon, People always say that. You don't know. Pokemon fans are not leaving. I'm sorry.

They're not going to go away. I don't know. I don't know what I mean, but there's definitely a lot of pushback and anger and fear from the community. From the Pokemon Go community. They don't want to change anything. They want everything to be... They do it all the time. They've been doing it for years and years and years. They're worried about change.

That's equivalent to, I'm going to skip ahead here, Toyota, Mazda, Subaru, Ford, Nissan, Rivian, Honda, Ferrari, Porsche, Mercedes-Benz, Aston Martin, Hyundai, Kia, VW, GM, and BMW combined all going to zero in three months. And then lighting $10 billion on fire on top of that. So it's, you know, it's a significant loss. Like, it's worth talking about.

Three non-coders talked about vibe coding.

Can you give me like a one-cented summary? I would love to hear what kind of breakthroughs you guys came to. I don't know if... What did Slime have to say about vibe coding? What are the...

You just have to go to the Patreon.

You can kick it off. I mean, look, my answer to this is I'm not a coder, so I haven't tried vibe coding. I don't know the difference. But my understanding is that the games that have been made so far are pretty slop. Yeah. One of them I know made it. It was like an MMO flying game. This guy... He has a big audience. Dude, he made it. It made a lot of money.

From a business POV, for me, it's fascinating. Because that's not normal. That's like, that's... I think about something like Enron collapsing, that was like $20 billion. That's nothing by comparison. So... So it's a big deal. And you could say, if I asked why, people might show you this clip of Elon possibly seek high link, possibly Roman saluting.

It was making like 100K a week or something. It was like printing money. And it was like, I tried it. It was really sloppy. But it was like, you know, a kid could play. You're playing. So there could be potential there. Right now, as a gamer, I see such a drastic gulf between. I mean, it just has. Yes.

There's so many issues and edge cases that come up that you don't get fixed that I think it's kind of crap. But.

That's what they made Red Dead Redemption 2.

And, you know, you could point to that as one political thing, but I want to go into a deeper business context, which is that basically, sorry, skip, skip this. Like you had the Iron Man 2 screenshot in there? Yeah, you could point to him being Iron Man. You could point to him cheating in Path of Exile. You could point to all that.

what's worth it or not. People just decided by playing it. Whatever's fun, they'll play.

I'm going to read every single comment about Doug wanting to take your jobs.

Yeah. Over the top of any... He wants to take our jobs and give them to Elon Musk.

But the whole point is that regardless of what you think about all this stuff, it's causing a reputational problem with a certain class of consumer. And these people used to buy a lot of EVs. So in every country they sell in other than China, Tesla's reputation score keeps falling. For a business, regardless of politics, that's just bad, right? That just means it's harder to sell cars.

Especially when, if you do the math, and I got a little craft here... I mean, Aiden, do you want to guess what the top 10 states that bought EVs voted for in this election? Would you think they were blue or red?

They were all blue. This is a 2020 election. I don't have the data for it. And then what do you think about the 10 states that bought the least EVs? I mean, they were red. They're red. They're red. Yeah, you guessed it right. They're red. So it's like even if you're switching one consumer for the other, in the states that are red, they're just buying. They don't care as much about EVs.

Their town's not even as many chargers. The infrastructure's not there. They don't care as much. And so it's not a one-to-one trade to piss off one group for the other if you're an EV car selling company. So... I got this poll here. 55% of Republicans say there's no chance at all they'd ever buy an EV in the next decade. That's a tough market to sell into. That's a hard pivot. If you sell cars,

All right, second thing, we're possibly entering a recession and late car payments right now, this article's from like three days ago, have hit the highest level since they started recording the data. So people just are not making their car payments, especially subprime, which makes it a weird time for Tesla to be offering 0% down, 0% APR loans. It's like 2006 for housing, dude.

They're just doing a bunch of this like car giveaway that I think will be problematic if people can't pay their bills. So from a business side, all this stuff makes me nervous about investing in Tesla, right? Then I looked at the top 10 countries they sell in. It's down 76% in Germany, down 63% in France, down 70% in Canada, down 81% in Australia, down 38% in Norway, 44% in Sweden.

It's going to come up later, so I'm going to interject.

I'm defending it now because you're making me mad. Wouldn't it add some charm to America? We don't have enough accents, first of all.

And it's also worth saying, like, if your Q1 sales are down from Q4, well, Q4 is the end of the year. People make big purchases, Christmas time. Yeah. Of course they're going to be down. But this is a pretty, this is not a normal amount of drop. And they're down year over year, too. So they're down over January of last year. They're down, they're just down.

So, you know, outside of the UK, 9 out of 10 of these countries, it's down, right? So that's a bad look in general. And I think it's because, listen, in China, nobody cares about Musk's politics. They don't care. They actually think he's the coolest tech guy. They still think he's Tony Stark.

No. On Billy Billy, he's still based, okay?

They still think he's Iron Man. But the problem is, you know, there's other Ironmans now in China, which is mainly this company, BYD, Build Your Dreams, who is offering Tesla-like cars for way less that are built for the Chinese market. So they have... just massively outstripped Tesla sales recently.

And because they're made in China, they're built by a Chinese company that knows what Chinese consumers want. They're just getting out-competed. So that's like another pressure on Tesla that makes me scared again to be an investor.

I just feel like TikTok is ruined.

Okay.

I was considering driving down to Mexico, buying a Chinese EV and smuggling it back into the United States to not pay the tariff. And then I looked up what would happen to me. The fine is astronomical and I could get jail time for smuggling. That's worth it. Do it for the pod, dude. Research. I really thought it'd be like a minor slap on the wrist.

Is it European?