Tesla Earnings Like Enron Theranos Accounting Fraud

[@realchris]

🏠 Start Investing! www.chrisnorlund.com/invest

[@jukeseyable]

1 thing you havnt addressed is that FSD isnt compatable with Hardware 3. and Musk promised that it would be done for the owners of HW3 for free, this is going to be at massive cost

[@criticalevent]

Hi Chris, my comments mentioning PwC, Tesla's fraudulent auditors, seem to be getting deleted. You should look into them.

[@criticalevent]

@@jukeseyable Basically if FSD were ever to be achieved, he would have to retrofit millions of cars at a cost of billions. Similarly, if he ever produces the $250,000 roadster, he owes hundreds of them for free to influencers who earned them through the referral program. He has financial incentive to continue to fail at both these tasks.

[@jukeseyable]

@@criticalevent 5.1 million hardware 3 cars are apparently incompatable with FSD

[@williampisano7573]

World classes designe team lol 😂 a triangle truck 🛻 world classes 2 million orders canceled on Cybertruck it look 👀 like a prototype but they built

[@hillbilly21960]

There’s no law enforcement now to stop him.

[@WhatWillYouFind]

The history of every anti-trust ever in America has repeated itself. Big Rail "Carnegie and his ilk." ATT. Rockefeller and Oil. The difference this time is the siren is coming from within and the fire suppressant was removed. There is nothing to stop them unless a surprise element or dramatic election sweep happens across the states that much like Luigi did recently, would require Capital to remember their place.

[@soysaucehairdye7869]

Definitely that's why he's lobbying so hard for Trump to win so he can get his pardon.

[@User122-ty]

He wants to be a government official who will decide on subsidies. But con artists aren't good for fair attitudes - who dumps first

[@aaronwalsh8469]

He wants to be able to put his robo taxi everywhere in America. Even if it’s bad and kills people . Elon” that’s the price I’m willing to pay.”

[@PeterKnagge]

18 USC §599 - it's illegal election fraud like Trump's last two campaigns.

[@nlpnt]

And/or bailouts.

[@Dmanz67]

@@soysaucehairdye7869 Correct 💯

[@Dmanz67]

I urge anyone to rewatch Elons "I'm f*cked if Kamala wins" remarks. He is betting his whole life on Trump winning.

[@christophercharles3169]

Let's not let his association with Trump, taint the latter.

[@mrlloyd149]

oh he said that?? boys, let's bring out the 1000 bottles of baby oil

[@lopezb]

Yes that is terrifying. It shows 1) he is a terrible judge of character; 2) he cares only about power....

[@claudermiller]

He's putting a down payment on a presidential pardon.

[@scabrera6630]

Now it makes sense why he is backing Trump in hopes that he can get pardoned.

[@vic28415]

One key thing to remember is when executives from your company leave en masse like that, it means they don’t believe in you and they don’t believe in the direction that your company is going. 🤷🏻‍♀️

[@donwatson1330]

Great job. Thank You. It's a relief to know there are others who understand our insane world

[@KoRntech]

Can't spell felon without E L O N

[@GOAT-HRDRZ]

😂

[@johnyepthomi892]

Right on.

[@shacktime]

👏🏼👏🏼👏🏼🙌🏼

[@MarquisdeSuave]

You also cant spell Leon witbout... nevermind, I get the joke now

[@RameshPatel-bw3bz]

F Elon = perfection for Felon.

[@Homecastlefoundation]

The staff are leaving because they have zero chance of a presidential pardon.

[@kaakrepwhatever]

Actually, the companies he bought and profited so handsomely from were successful in spite of Elon. They had to plan around keeping him busy and out of trouble.

[@bendybruce]

Elon has been cooking the books from the moment he started his first business. What would be truly shocking as if all the numbers actually did add up.

[@aprilcalhoun8984]

I think that’s how Thiel got him booted from his job at PayPal, he showed the board how the figures he presented were falsified to make him look good.

[@fakeaccount6230]

⁠@@aprilcalhoun8984- yet Peter Thiel continued to invest in most of musks other businesses all along

[@sciencelad8286]

If it quacks like a duck, looks like a duck, walks like a duck…

[@cynodont7391]

@@sciencelad8286 ... then it's a Musk

[@avarion9538]

yes. It's ridiculous, how some people think, he really created something. Even with Paypall, he basically payed people, who are talented. He finances stuff, and still goes broke, but doesn't create anything himself, besides the awful design of the cyber truck, or a golden hat with golden letters 😂

[@sangm1561]

Elon Musk is in preservation mode just like Trump. They need and want to be in Government to keep their sorry asses out of jail.

[@philikabphilikab8262]

kikikikikiki it is a big club. u and I are not in it. Rest in peace Georges Carlin

[@lennyshwayze980]

It's so sad yall want him in jail more than Bush Clinton snd Obama

[@kagakai7729]

Obama isn't in multiple sexual assault cases

[@sharkbelly1169]

They're doing the same tap-dance Alex Jones is: delay, delay, delay. I implore the Department of Justice to go after these fraudsters. Alex is doing bankruptcy fraud on his show every day, ffs. And there's nonzero evidence Elon was a frequent guest of Alex's twitter livestreams under a sock puppet account. I'm convinced (without concrete evidence, just their behavior) that their finances are intertwined in more ways than just fluffing each other's reputations.

[@BCFC954]

Why did Trump face criminal charges & prosecution in NY? Why does Tesla continue to dominate the EV space? Quit hating without facts. Do your homework. I see 80-100k cybertrucks everywhere and live in a mid-tier city. Imagine what the margins are on that when you reach economies of scale? 🤔

[@faulypi]

He will claim political persecution when the SEC gets tough.

[@oneki]

my suspicion is that this is the reason he has gone full maga

[@Terra_Lopez]

Yes, exactly. That is the playbook. He started that very blatantly a while ago.

[@yayorandel6048]

​@dondajulah4168 should would be a coincidence if the sec starts looking after all these years but the second he supports trump here all you absolute fascists come, you people are so transparent😂😂😂

[@hms350]

At 11:45 when discussing the Tesla Roadster Elon stated "more serious impact on the good of the world" - how is aligning yourself with a political party that does not believe in alternative energy / EVs and denies climate change help the "good of the world"? Perhaps I slept through too many classes in school. -Chris, please continue to keep up the great work.

[@leparfumdugrosboss4216]

Also Elon claims to be a believer in capitalism and a libertarian. His job is not to do stuff for "the good of the world", his job is to deliver to his customers. His philosophy changes on the spot according to his needs.

[@hms350]

@@leparfumdugrosboss4216 as a long time customer, at times customer service was horrific after the 3 released. In the early days having a Tesla felt great and the right thing for the future.

[@avarion9538]

Exactly! He profited from Paypal, he didn't invent it, and everything afterwards was luck with his investments and lies, and being a sci fi fan telling sci fi stories, paying talented people, not being a genius. 🤷‍♂

[@IA100KPDT]

He's just a front man for big money.

[@FirstNumber1]

Same thing with Tesla, he bought his way in, then pushed out the real owners

[@japhalpha]

They did artificially inflate their transactions on PayPal to increase popularity. Honestly kinda sad, considering what SpaceX has done

[@UKnowIfUKnow]

​@@FirstNumber1and "sued" so he could call himself a founder (as I understand it).

[@GaziGazo-b1f]

Having Always luck is a skill

[@langolier9]

You are honestly helping me see things in a whole new light and I greatly appreciate that❤❤❤

[@realchris]

Appreciate you stopping by :)

[@richardcoughlin8931]

Thanks for your analysis and comments, Chris. I also found the data below helpful. I have followed the stock market for the past 30 years and I don’t think I’ve ever seen a 20% pop in prices in a large cap stock based on such a mixed bag of quarterly data. Tesla (TSLA) Q3 CY2024 Highlights: Vehicles Delivered: 462,890 vs analyst estimates of 463,203 (in line) Revenue: $25.18 billion vs analyst estimates of $25.5 billion (1.2% miss) Operating Profit (GAAP): $2.72 billion vs analyst estimates of $1.87 billion (45.2% beat) EPS (non-GAAP): $0.72 vs analyst estimates of $0.60 (19.8% beat) Automotive Revenue: $20.02 billion vs analyst estimates of $20.25 billion (1.1% miss) Energy Revenue: $2.38 billion vs analyst estimates of $2.59 billion (8.1% miss) Services Revenue: $2.79 billion vs analyst estimates of $2.63 billion (6.3% beat) Gross Margin: 19.8%, up from 17.9% in the same quarter last year Operating Margin: 10.8%, up from 7.6% in the same quarter last year

[@Celaeno725]

What I've always held in mind is "if the good employees are jumping ship it's a sign for you to find another job"

[@wonmoreminute]

So he pretty much confirmed at least two things we all knew: 1. The roadster is nowhere in sight and is not even being worked on. 2. There is no affordable “Model 2” in development because, according to his words, it would be pointless.

[@tatata1543]

1. I wonder how the people that put up $200k upfront seven years ago feel about that. There is something iffy about the whole roadster deal.

[@LIL-MAN_theOG]

@@someuser7501 and yet, that still doesnt make it better...

[@mikezappa]

@@tatata1543 To have the claimed capacity and range the battery alone of the Roadster "sports" car would have to weigh about 3 tons!

[@tatata1543]

@@someuser7501 Yea, I was incorrect. At launch people registering for the “Founder’s Edition” had to cough up $250k.

[@tatata1543]

@@mikezappa Going by the subtext of what Musk was saying in the call I get the impression they are nowhere near production even now seven years later. The guy is conning his customers, the sad thing is many of them seem happy to go along with it.

[@Griffintheelder]

You guys are a beautiful couple, keep making these videos together and show the next generation what togetherness can look like.

[@MarkSpohr]

The stock went up 40 points today. I used the opportunity to sell that last of my Tesla stock. I've made a good profit on the stock over the years but it's too sketchy now to be invested. I wish them luck but having the Chief Twit in charge is ruining the company.

[@jameslow5738]

That’s usually when it gaps up before coming down further

[@YupitsmeLC]

Honestly I really think Teslas doing something very funny with their accounting. These situations feel awfully similar to things that were happening with Enron. You don’t have massive resignations and the ceo talking about how he’s going to jail if Kamala wins for no reason. He’s got to be doing something he knows isn’t good. I’m so Intrested to see how things look next quarter. I feel like this was his “cook the books” quarter because he thinks Trump will win and nothing will matter after that.

[@mjregan88]

Hard to say when people can look into their financials all they want. It's easy to just say this, with nothing to back it up. Guess we will see if the company pulls an Enron, and if it never does, then it was just false assumptions.

[@SR11266]

So now, after Trump has won, he gets his get-out-of-jail-free card, right? They will dismantle the SEC, first thing in January. Problem solved

[@Jennn]

Gah, I love the wholesomeness you two being together, to balance out the heavy topics

[@fredricgrethel1717]

The math does not math. This company is a shell game like so many before it. They have a real product, but they do not merit the insane valuation that they have had for years! I do not know why the SEC has been so slow to really dig in. The Tesla Taliban will be crushed financially. Elmo is a grifter. Full stop.

[@BenSmith-cm8oc]

Bro mad you didnt buy stock earlier.

[@fredricgrethel1717]

@@BenSmith-cm8oc Huh? Hahahahaha. Nope. Clear that you are part of the uneducated Tesla Taliban. Have fun catching the falling knife.

[@harmonykrieg]

I bet they are digging in a lot, but it's probably just slow, complicated and enormous.

[@signalfire6]

The SEC was handed Bernie Madoff on a platter and ignored it for YEARS while more investors bought in. At least Bernie was polished at bullshitting his clients. Elon can't even do that.

[@trinitybrian2807]

The music ends if Trump loses. If Trump wins the music will affect this entire planet in horrible ways

[@saturnomega768]

True!

[@xademyolo1317]

democrat propaganda puppet. I guess you just ignore all the shit that has happened under democrats more wars, border crisis, cost living crisis, government censorship

[@leparfumdugrosboss4216]

If Trump wins, I think the most infuriating thing will be to see his supporters joyfully shouting "we defeated the establishment and big money interests!" while two billionaires engage in open corruption, pardoning their crimes and working in the very government that subsidies their business. 🤦🏼

[@safe-investor-ag5813]

Wow…. Imagine if Tesla turns out to be so underwater that they simply collapse

[@123chargeit]

Yeah I really think the extra profit came from the 750 million bitcoin that was probably just sold. That would work out the extra 500 million of profit. Combine that with cutting costs (layoffs, negotiating with merchants, etc) it would work out to what they showed. Next earning call is going to be brutal. No more bitcoin to sell and all the lowest hanging fruit of cost cutting are already done.

[@123chargeit]

@@jkepic25 That's not how accounting works. They would have reported those loses when they sold. The bitcoin they just sold they most definitely at least doubled there money.

[@FirstNumber1]

I don't think they sold it... Unless they lied about it

[@123chargeit]

@@FirstNumber1 Well it was transferred to another wallet and right after they show an extra 500 million in profit with no given reason where it came from. It checks to me that they sold it under the table to keep it quiet and didn't use an exchange.

[@tgd02]

​@@jkepic25profit is profit....but not profit from their main asset. Dude stfu

[@BenSmith-cm8oc]

Where is the sale..... its block chain show the sale

[@richardcoughlin8931]

To be completely accurate FSD has not been given away, but rather offered for one month free trials twice over the past few months. Online reviews by Tesla owners are mixed. It still requires human intervention at certain critical points, particularly in city driving. There are also complaints that it arbitrarily changes lanes in freeway driving for no good reason. It is still far from fully autonomous driving. I belong to a couple of online Tesla groups but I have encountered literally no one who says they purchased FSD after the one month trial.

[@larryo6874]

I recently drove from southern Arizona to Northern California and encountered numerous road construction slowdowns with having to maneuver around orange cones and such. Has anyone encountered this while driving a Tesla with FSD? If so how did it go?

[@kxkxkxkx]

Very smart conversation 😄😸 Subbed! P.s. I would love to see a forensic accountant go thru the Tesla reports

[@kaazooyii]

Ya, Chris keep shorting Tsla.

[@scaramouche8244]

next video title,"But..."

[@kaazooyii]

lol 1 month later TSLA 389.

[@elitegunslinger]

Musk from 60 minutes in 2018: “I do not respect the SEC. I do not respect them.” unless there are criminal fines or penalties, he's not coming to the table.

[@sandyjamison5929]

He will when the SEC asks their bigger, older & meaner "brothers" to have a word with him. Holmes & Capone played chicken with the US government, too. 😁

[@wg4154]

That's what Brazil did😂

[@sharkbelly1169]

I'm guessing he lied on his SF-86 about his prior immigration shenanigans. That's 5 years right there.

[@persuethedream9862]

Elons gone full Trump

[@safe-investor-ag5813]

Elon keeps saying they’ll be the most valuable car company… the problem is Tesla isn’t a car company, it’s a tech company.. Toyota is at 300b market cap, Honda is at 50 bil market cap. And Tesla is 750 bil market cap. Tesla is already the most valuable car company.. people haven’t realized how hyper mega over values Tesla already is. The bubble hurts will hurt tens of thousands of people

[@LstarRBeatz]

Yeah Elon should go and learn more about his company.. 😂

[@paul5683]

The Tesla bubble has already burst, Elon will whitewash it as long as he can in order to get as much money out as he can before they are closing the doors.

[@PreludeSon]

He trashes California yet riding the wave that made him who he is because of California.

[@davidhancock91]

Leon is betting his bitcoin on Trump on the betting market, to make Trumps odds look favourable. Nuts

[@danparish1344]

Leon Umsk would be a great user name

[@natureschild.5380]

Bet against him lol

[@paul5683]

Apparently people don't get that Leon joke. DonOLD couldn't remember Elons name so he made up the name Leon.

[@cameilrainford1915]

Musk sounds like a younger version of Trump- making outlandish promises that he will never deliver. How can so many be so gullible - investors and voters.

[@dcc70]

He's a deadbeat, just like Trump

[@HKGGweilo]

Great observation!

[@leparfumdugrosboss4216]

I know it seems unbelievable by now but young Trump was actually a smooth talker. Elon in his fifties sounds more demented than Trump at nearly 80.

[@Sultanzair456]

I sold mine. keep doing the good job.

[@jaredstaniland9117]

It only takes the cutting of 20,000 workers to gain an extra 1 billion in profit.. assuming those workers were contributing nothing and were on an average wage of $50k per annum .. lol.. so i guess they couldn't say they cut 100,000 jobs?! - Increasing 5bn in profit though with flat revenues? wtf?? Economies of scale only happen when you get scale, but flat earnings rules out any increase in scale and Tesla is miniscule in the auto sector anyway, so they couldn't use the economy of scale angle either.... Where have these reductions in underlying cost come from? this is smelling worse than a fish milk shake on a summers day, or "the secretion inside an internal pouch on the abdomen of the male deer". (google the deer bit for fun!! lol)...

[@IA100KPDT]

The whole corporate accounting and stock thing is just a pyramid scheme. Using stupid money to bail out big money. Imagine analyst can predict earning per share to cents level. I can't even predict my bank account to cents level in 3 months time. From here, I already knew this whole thing is bs. We just played along thats all.

[@mylesgray3470]

Tesla is minuscule? The Y is the best selling vehicle in the world. Plenty of volume there to capitalize on small production cost improvements.

[@WJV9]

​@@mylesgray3470 - Stop drinking the Kool Aid. Only 18% of the cars sold in 2023 were EV's and of that only 5% were in the USA. Just because Tesla is #1 in EV sales in USA doesn't mean much in the world market since USA is only 5% of the total market. BYD and other Chinese car makers are taking over the world EV market since they are selling EVs for 1/2 the price of Tesla, Ford, GM, Nissan, etc. Non Chinese car makers in China have seen there sales drop by 80% or more in one year. In a couple of years there won't be any significant non-Chinese EV car sales in China, this is significant since over 60% of all EVs sold world-wide are sold in China, 25% in Europe and 10% in USA. This is a major problem for Tesla and other USA car makers since a price war is just warming up. There were 14 million EVs sold world-wide in 2023 and Tesla only built 580,000 Model Y's so yes the Model Y may be a popular 'Model of EV' but it is small potatoes in the total EV market.

[@fromgermany271]

There was a complain lately, that Tesla valuation does not match the profits, so the goal was set: write a bigger profit number. That you have to adjust other numbers as well to make your financial statement coherent is coming „next year“.

[@acceptablecarrot173]

Tesla is a pretty small brand. Yes the model Y is the best selling car model with about 1.15 million sold in 2023, but all the other models only made up about 700K after that for a total of 1.8 million. In comparison Toyota sold 10.3 million vehicles across their range.

[@Miketar2424]

Apparantly the charade can go on and on for a very long time, and the numbers can just keep getting crazier. The global Tesla investors club will keep buying in.

[@davidpearn5925]

Yep. Sbf and Elizabeth come to mind every time I see Mr Musk or hear his mumbling snow job.

[@signalfire6]

This - how clear can his thinking be if it's anything like his speech patterns? Every time I try to listen to him talk I get infuriated and want to slap him. It's not 'being on the spectrum', it's him hiding his lack of understanding the topic. He's not a genius, not even close.

[@KoRntech]

1:40 core business is selling cars but also selling Carbon Credits

[@oldtimer5316]

Tesla didn’t make a profit on its vehicles until 2020. Selling carbon credits kept them afloat from 2004 to 2020.

[@catherinebrilmyer1982]

The house of cards are going to fall soon

[@marlonbooker2561]

Keep the pressure on him!!! Love your videos. Do one with the title: Tesla, the Theranos of the car industry!

[@dannyy7654]

U mean Tesla is the Thanos of the car industry. They’ll make the entire industry disappear with their efficiency and superior technology and features.

[@marlonbooker2561]

@@dannyy7654 bot

[@MrEroshan]

I dislike Elon, but Tesla does have actual products. Theranos had none.

[@rasputozen]

@@MrEroshan What? An electric vehicle? Theranos also had products already made by other companies.

[@DuyNguyen-uh6ny]

@@rasputozen Not just an electric vehicle, the best selling vehicle in the world.

[@GabrielHill1]

The roadster needs to be out already. We cannot keep bouncing from one project to another without finishing them. It's frustrating for those who've paid their money. If this is being done, then the money may not even be there to actually produce them. Could it be too expensive? We don't know. The moving of Bitcoin seems somewhat questionable. The loan for the purchase of Twitter needed to go directly to roadster production. The cybertruck could have been sold along side it.

[@criticalevent]

He can never ship the roadster because he owes too many free ones to influencers who earned then through the referral program.

[@nicholasmuni7995]

This is true one influencer has two promised to him, he will never see them.

[@GabrielHill1]

@@nicholasmuni7995 I'd cancel it and buy a Rimac.

[@courtlaw1]

All I have to say is Thank you for the video.

[@aprilcalhoun8984]

Musk is promising 2 to 4 million Cybertaxis (which he insists will be great money makers) with no data presented as to if there is a demand for that many new taxis.

[@criticalevent]

He famously says induced demand is a myth when talking about making more lanes or tunnels for cars, but firmly believes it's a thing when it comes to any product he comes up with.

[@nlpnt]

"Take rate" is a legit auto-industry term. Historically, car companies monitor it for options to decide what options to make standard equipment. Power windows are an example, by the end they were building so few cars with crank windows that it cost more to engineer and build both systems than it did just to put PW in everything.

[@DreadX10]

Because they skimmed on the ability to open the window when there is no power? That is what makes it cheaper than it should be....

[@Arathreas]

I think the numbers make sense. They had massive sell offs and closures, upping the margins. The second they released the numbers Tesla bought shares back. (Share buyback period ending as soon as they release numbers) Them buying the shares back triggeres a short squeeze. Short sellers have to buy back at higher levels, melting the stock upwards. This has no foundation whatsoever. Most investors will fail to recognize that and get lost in FOMO.

[@PonziZombieKiller]

Yeap. Waiting for the topping tail... then wham... whack a hole time.

[@criticalevent]

Every quarter they play a shell game, it's a running joke in the industry that you're not getting paid if your invoice falls in the same month as a Tesla quarterly. Their reported cash on hand is always the result of not paying their bills. They don't actually have the money to do a buyback in a meaningful amount, in fact I would not be surprised to see another capital raise under the guise of "building a Ai robot gigfactory" or some other BS.

[@XLevelmanX]

Uhh. Tesla does not do share buy backs... If i recall they have never done a single share buy back. How does this new information fit your narrative?

[@MrRyanDevo]

@@XLevelmanXRatonality went out the window with those mob of haters.

[@LstarRBeatz]

Tesla never did a buyback.. 🤣🤣🤣🤣

[@MetalSandman999]

I'm not saying we should trust Elon or Tesla, but this whole video was loaded with speculation and reaching. How does it not make sense that a company with flat revenue and reduced costs would have higher profits? And yes, they wpuld have had to pay severance for all those layoffs. But those layoffs were in Q1, as would the severance costs. So we absolutely would expect lavor costs to be lower in Q3. Everything else that could be construed as fraud was "we have no evidence that they actually are doing this thing...but it makes you think." Showing accounting fraud needs concrete acts, not just showing Elon is kind of a moron who is way over his head. But people paying attention before he bought Twitter and it became cool to hate him already knew he just pulled stuff out his anus and his companies were way overvalued.

[@Jesse615]

Great point about the two entities buying and selling product with each other. What are the chances Space-X just happened to refresh their fleet with new Teslas last quarter! I was scratching my head after seeing the Q3 highlights; considering how abysmal Q2 was.

[@sharkbelly1169]

There are so many cybertrucks coming to the space coast Tesla dealership. I don't know how that fits in, but maybe there's something there.

[@davidhancock91]

Who in their right mind would own a Tesla vehicle, and more so, who would own Shares in this con mans company?

[@RarebitFiends]

​@@jkepic25How do you know they did not?

[@avarion9538]

@@jkepic25 Tesla just is worth maybe around 10% of their market cap. Their stock goes sideways, and it will collapse sooner or later. Sure, a few years ago, it would have been a good investment, but now, this time is over, and Tesla never was worth, what they said. Look at their whole company's profit, since the company exists. Not even 50 billion, so how are they worth over half a trillion?

[@Teslafan9519]

@@avarion9538 So you're suggesting Tesla is worth $60B when they have $33B cash and like 5b debt? Meaning the price of Tesla would be $32B for a company that will make close to $15B profit the next four quarters? So basically 2 P/E When they're the leaders in future transportation (EV & selfdriving) and the only profitable one? The opportunity that is worth +$10T and winner takes all or most of it. Ok good luck :D

[@narachi-]

@@avarion9538 yep

[@f0rth3l0v30fchr15t]

@@avarion9538 greater fool theory

[@BCAT3089]

after watching a few episodes of you guys, I respect your characters and the info you give.

[@realchris]

Appreciate you hanging out and watching :) If you want to see our vlog channel too it's here kzbin.info/www/bejne/aoG7XmN_oq5rers

[@kleinzach007]

The price of batteries has gone down, which is the most $ component of an EV, thus margins went up.

[@findingretirement6649]

Tesla stock shot up almost 14% right after after hours trading started yesterday I wonder who dumped all that cash into it so fast to pump it up??

[@rtqii]

Same with Trump media stock. It went from 10 to 30, and the short sellers are doubling down for another drop back to 10.

[@djmouseshadow4735]

The Musk Foundation

[@justbeingmesparks6538]

It's EXACTLY what we are saying about the election - "The numbers don't make sense!"

[@Toaster-v1z]

Lol, they are finalizing the design of the roadster,lol, and it's for the good of humanity. 😂😊

[@206-HoneyBadger]

Great informative video! You have such a way to captivate my mind on something that never mattered to me before. Excellent communication 😊

[@CatholicSatan]

But, but... if you listen/watch Sandy Munro (the automotive engineer and owner of Munro & Associates), Elmo is the GOAT! Elmo is a visionary who does extraordinary things - his profit margins are a gazillion percent! Elmo gets all his raw materials at way lower prices than anyone else, he knows more about manufacturing than anybody on the planet! That bus in the Warner Studio fake town... well, it can go _up and down on its suspension!_ Fantastic for the disabled, mothers with small children and wheelchair users - just mind-blowing according to Sandy Munro. (The fact that has been done by buses in places like London for decades is irrelevant, right?)

[@SebaTarth]

Tesla is absurdly far behind Waymo on robotaxis.

[@mjregan88]

Yet the co-founder of Waymo says the opposite. Weird

[@SebaTarth]

@@mjregan88 Got a quote / source for this? Genuinely interested.

[@tatata1543]

@@mjregan88 Which co founder?

[@fromgermany271]

@@tatata1543 Maybe the generic co-founder of everything 😂

[@cdorman11]

Its AI ranks in the bottom 10% of some 30 car companies in the space. When the head of AI at Facebook says you don't understand AI, you're probably not doing a good job of hiding your weaknesses. Among technical people in the market for a job, Tesla is of interest only if you want to work on batteries.

[@mylesgray3470]

It’s not that hard to figure out. They laid off a bunch of employees, and the investment in cybertruck production has begun to pay dividends. They also further reduced cost on 3 and Y production, further increasing margins on them.

[@gunfunandstuff9226]

are Tesla "deliveries" to actual buying customers(?), or it's counted as delivered when ut rolls off the assembly line? Many manufacturers count/book their cars as "sold" when it ships to a dealership, even though the car just sits on the lot, NOT SOLD to a customer yet.

[@DCGreenZone]

Leon has been playing strip poker with other peoples' money for decades and he's down to his undershorts, and so are the majority of investors. Farside is on the wrong side.

[@HKGGweilo]

Spot on comparison! 👍 Smart people learn from history. Only the uneducated tend to repeat the same mistakes over and over again..

[@mohamedanderson8014]

Tesla improving margins does not mean fraud. A company can improve operating performance a number of ways, including just being more disciplined with spending. Also, all public companies are audited, so accounting firm provides reasonable assurance that the financials are fairly presented.

[@akshatrastogi9063]

The guy is spending millions on election

[@criticalevent]

The only way to improve margins with flat revenue is to fire people and close stores. To suggest Tesla was was not operating as frugally as possible up to this point is to not know who Elon Musk is. Tesla's books are indeed audited. They are audited by PricewaterhouseCoopers LLP, the company that fired a whistleblower for alleging they were committing fraud in Silicon Vally company audits and was just fined in August in the UK for covering up the fraud London Capital & Finance was committing. Shareholders were asked to vote to ratify PwC as Tesla's registered auditor for FY 2024 in May of 2024.

[@YupitsmeLC]

Dude… lol it’s not a guarantee. Especially if the data Tesla provides to the accounting firms is fraudulent. When the audit is done it may still look good based off the data provided

[@TorianTammas]

Really, can you show me five ither companies that did it like this in such a short time frame?

[@XLevelmanX]

@@TorianTammas Show me a single other company landing building size rockets on chopsticks? Just cause its never been by anyone else does not mean it cant be done. They also put up the largest data center in the world in 19 days. A process that takes EVERYONE else 4 years minimum, took musk 19 days.

[@David-l6c3w]

Is Tesla paying interests on those 50K deposits sitting over 7 years? If not, all that deposit cash is essentially an interest free loan from the customers.

[@criticalevent]

Cant pay interest on money you spent on Cybertruck presses :)

[@and22and22]

This guys short position is burning 🔥 heavily

[@FirstNumber1]

Way to ignore factual information Wether he is shorting and he is down, that still doesn't disprove the numbers he is talking about. But this is the brain of a human in 2024size of a peanut and worshipping celebs

[@jeffrejr1]

After the election is the time to strike. This and truth social

[@isgonrain]

Yeah this video reeks of fear... but... i think I might take a short out. these earnings do seem reallllllly fishy.

[@tgd02]

Typical elmo shaft lover smh Numbers don't lie, dummy.

[@joakos1122]

Tesla is going to burn for supporting Trump, the vast majority of EV buyers are liberals. Without Obama & liberals there would be no Tesla and Musk spat in our faces. Mark my words, Trump may pardon him for fraud if elected but he can’t force us to buy his cars

[@dmkinsey]

OPTIMUS!!Are you kidding me? That's a ridiculous scam

[@Mike-f2i6h]

Big Money Chris is doubling down! Get the popcorn!

[@TheNORegretShow]

Great coverage of the stock earnings. This explains why a ton of higher-ups resigned. They didn't want to be the next Fastow,Skilling and Lay 😂

[@realchris]

You can watch through our live stream too, we had a fantastic panel discussion. It makes for a good podcast when you're on the commute :) Seriously though their numbers are fishy.

[@TheNORegretShow]

@realchris I will definitely listen to it. It is crazy how The Intelligent Investor-Benjamin Graham warned us about CEO'S always pumping their companies, which should be a huge red flag. Great companies do not need endorsement. But Ponzi scams do.

[@Aloneagainofcourse]

You guys are great 🎉

[@realchris]

Appreciate you watching!

[@akshatrastogi9063]

Before the call, Elon must have told his subordinates "Lie as much as you can, as long as we are on the same page" 😅

[@cookingwithsilence]

The lighting and color grading on this is so sufficiently better than when you started. This medium matches the location you chose so well, that interior with the varied types of wood is really nice. Even your wardrobe is co ordinated well with the lighting of the room. The audio has improved. Either 1. you've been picked up by someone sophisticated 2. you've been doing your research or 3. you are very lucky. Either way, it's nice, it's art. Well done.

[@cookingwithsilence]

And you posted this at coffee time in the states.... You are on it Chris.

[@abelincoln3261]

I've seen several Tesla owners claim they were over charged over billed for items / services they did not receive or ask for or order ? Can this be true would it be a large enough amount over all to affect earnings ?

[@SallyMarvin-c9g]

The constant interruptions/input from your guest spoils the flow of the valuable information you are giving us. Your original format can not be beaten...."when it ain't broke, dont fix it" comes to mind!

[@davidhancock91]

TSLA stock price big jump today. Because they showed a modest profit. Sales in Australia are 25% down year on year, before Leon attached himself to Trump. Sales should plummet now? What is going on?

[@kebabsaurusrex1601]

Fan boys pump the price - Tesla never behaves like a normal stock due to all the cultists involved.

[@allancarey2604]

@@davidhancock91 Not defending Tesla, but the drop in Tesla sales in Australia is largely due to a big drop in the Model Y which at this stage I’m going to say is because people are waiting for the refresh. A similar thing happened to the Model 3 and it snapped back.

[@davidhancock91]

@@allancarey2604 Oh, and when is that happening? I thought they were refreshed? My guess is MG and BYD are far better value? Leon has lost at least half his fan club, by attaching himself to MAGA and Trump. If that Robbo party nonsense wasn’t damaging enough , The Trump alliance is Commercial suicide.

[@davidbrayshaw3529]

Sales are down 48.8% YoY, in Australia, according to VFacts.

[@MAW-g3r]

I went directly out and sold all of my Tesla. I had to wait until it reached $254 though. Thank God, I am free! l have been patiently waiting. I set the notification bell last night after the earnings report. 🤣🤣

[@realchris]

Dobby is free!!!

[@MAW-g3r]

@@realchris Congrats! 🎉👏

[@justthisguyyouknow666]

Flying, driverless cars sound terrifying.

[@annem7806]

Tesla & the Boring Co need to stop their repeated environmental violations, for the planet. (f)Elon

[@nlpnt]

Tesla's a car (and home backup-power) company valued like a tech company. Keeping that bubble up is why they moved HQ to freaking Austin when it would've made way more sense to move to Detroit, and why they approved that record salary for Elon.

[@mjregan88]

I wouldn't say megapacks are backup power. It's a massive, scaling legitimate business -- the entire energy side. Plus robotics is not entirely a pipe dream. It will happen, at some point.

[@Curiouslist]

I swear he just gets numbers out of his butt😂😂The way he throws numbers around is crazy. Also, how are they still working on Full self driving when he said it was already solved in 2016? Shouldn't the robotaxi already have the self driving software it needs to work today if the software was ready in 2016? its crazy

[@leparfumdugrosboss4216]

"let me be clear, this is something we can do NOW!" Elon 2016 😅

[@faraonlatino]

I'm no Tesla cultist, but your analysis is wrong. Revenue is up 300% over the last 3 years, and the automation tactics (vertical integration) tend to get better over time (explaining the improved margins). While Tesla is not going to have the explosive growth it had over 2020-2023, it definitely has consolidated it's revenue as expected.

[@FactsAboutTheWorld.]

he said it hasnt grown year over year not the last 3 years

[@MarkSpohr]

What does "consolidated its revenue" mean? Is that a euphemism for "no growth"?

[@cdorman11]

*its

[@jeffhutjens]

If my math is correct, Tesla's market cap is almost 16 times this year's sales ? That's insane. 1,364,000,000,000/86,000,000,000 Please correct me if I'm wrong.

[@RonaldTrouten]

Chris could you guys please do a video on the numbers. It's would be interesting to see . Thanks . 😊

[@realchris]

See the live stream Tesla Stock Going Bankrupt? Q3 2024 Earnings Call Live Chat kzbin.infoTydLUzl7Vik?feature=share

[@truetech4158]

For someone who said they were bullied as a kid, why would he vote epstein's longtime nextdoor neighbor that said there were good people on both sides? I think elon should be asked some very interesting questions rather than being enabled to remain insulated from such questions that would be very revealing in short order.

[@MrDukeus]

what if you're wrong Norlund

[@CHIEF_420]

Es posible, pero Musk está muy corrupto en realidad. TSLA es una compañía mejor sin él hoy.

[@dianerandall1525]

Where do you broadcast from

[@justindressler5992]

They are probably forward projecting revenues based on deposits. But it's vary hard ti were they increased margins. Unless all the staff they fired were replaced with robotics

[@bobbybishop5662]

There is little chance they can have the NHTSA approval in a year. Wayno waiting over to years for approval and ended withdrawing the request and leaving the driver controls in their cars . Even if they do get approved the no of vehicles is capped at 2500. Elin is blowing hot air on the one year .

[@criticalevent]

They have ZERO testing on record with the NHTSA, they haven't even started the process.

[@tvgerbil1984]

It all depends on who wins the November election and chooses the head administrator of NHTSA. Musk has put real money to buy votes for his man. So he may be onto something.

[@LstarRBeatz]

WayNO!🤣🤣🤣🤣🤣🤣

[@joegeorge3367]

So who is the auditing group that certifies the annual report. quarterly may not be audited but according to Sarbanes-Oxley the annual numbers need to be certified by outside auditors - Deloitte, E&Y, other.

[@Zan823]

Correct which leads me to suspect that one of the reasons he is backing trump so hard is that he has been in breach of the S.O. ruling since the launch of Tesla. Trump MUST won in order to keep out of jail...literally. he knows the eye of Sauron will be fixed o. Him should the Dems win. Both him abs his other SA partner in sedition, Thiel.

[@Zan823]

I don't believe the quarterly audit has been happening...if it has that firm is also In cahoots.

[@criticalevent]

PricewaterhouseCoopers LLP, the same company that fired a whistleblower for alleging fraud in the auditing of Silicon Valley companies and was fined in August by the UK FCA for covering up London Capital & Finance's fraud. Item #5 on the same ballot to give Elon his $56B compensation package was the request to keep PricewaterhouseCoopers LLP for FY 2024.

[@criticalevent]

PricewaterhouseCoopers LLP, the same company who recently fired a whistleblower for alleging they are committing fraud in Silicon Valley company audits and who was just fined in the UK for covering up the fraud of the now defunct London Capital & Finance.

[@MetalSandman999]

And auditing firm is just going to verify that the numbers for the year are mostly accurate, not that it's a good business or that any of the grandiose claims for thr future will comes true. A lot of bad companies pass audit.

[@auxpowerunit]

12 years ago, Tesla already had the same accounting problems. At the time, Elon said that Tesla is so unique, they should not be required to adhere to the General Accepted Accounting Principles (GAAP). That was so fishy, that I bet against the company. Unfortunately, the irrational, non-fundamental investors beat me badly. So, never bet against stupidity !

[@realchris]

Yes this charade has been going on a long time.

[@hamiltonasseiro6671]

Somebody better investigate this and like asap!

[@ove1knobody495]

Dear Professor When you explain your source of reasoning with regard to Tesla is “In my mind” then we know reality is right. 😊😊😊😊😊🤪

[@robertwilliam9558]

Chris still bashing TSLA after he has that big EGG all over his face from earnings yesterday. WOW

[@paul5683]

If it weren't for the cheap machinery and tooling that all came out of China there certainly wouldn't be the same profits if China didn't cut him a really good deal. Sure it's an American company but it was built entirely with cheap Chinese components.

[@doncarlodivargas5497]

Elon "think" this and Elon "think" that, its pathetic, actually, i "think" my waffles are the best tasting in the world, they are worth trillions

[@fredrik3685]

😄

[@RarebitFiends]

You make a good point using quotes around the word think. Given all the drug abuse, you are right, Elon likely doesn't have many coherent thoughts anymore.

[@doncarlodivargas5497]

@@RarebitFiends - yes, when Elon Musk claim he is "thinking" something it is just what is "cool" to say, not a result of some mental process

[@lopezb]

Remember how Trump values his "name" at billions?

[@wg4154]

Moving that money to trump

[@NorthStarPNW]

...and/or the Caymans for his upcoming long court fight to avoid jail.

[@geraldkoth654]

Making the same models, no new tooling, lots of parts removal, charging for all sorts of add ons that are already built in. So margins can be much larger than the new model every year production companies. Then there is charging where they are "selling" access to the network for competitors and charging very high rates.

[@evilroyslade2491]

Compare Tesla car production to any automaker. Do you see a BUBBLE in Tesla stock using real production? Tesla is a lot of investor hot air. Tesla has 2 car models and 1 truck in production with no major body style changes for 8 years. Beware. A stock PE of 71 is hot air. Elon moved over $700 million in Bitcoin to somewhere. I assume Tesla cars are supported by the Tesla backup business.

[@rogerdogger6969]

I'm so glad you guys are on here telling the Deep core of this so that in the future people can't say that nobody said anything because you are clearly and have been clearly saying everything that even the mainstream media is refusing to address and I say even as if they've ever really been good at it😂

[@cannastartup2794]

That's what I was thinking...

[@rogerdogger6969]

The reason he's not showing anything is probably that he's finally figured out that he can't show incomplete work and people really totally buy into it so now he thinks he cannot show it and people will still buy into it anyway maybe his Fanboys and girls will but normal people are clearly not jumping on board with any of his Madness anymore hopefully. Lest we forget everything that he's rolled out physically has been either incomplete or didn't function at all and was just a prototype of a concept that he was supposedly still working on. The man is not a genius the man is not an engineer the man is not a scientist why are people listening to him?!

[@CHIEF_420]

☝️

[@pinkydevilla]

I really luv elon ❤