General Elon Musk Fukkery Thread
- Thread starter Armchair Militant
- Start date
Tesla earnings call was bad so he's just throwing things out there for distraction.
Tesla net income and earnings drop more than 20% from last year
Tesla specified in a shareholder deck that "underutilization of new factories" stressed margins, contributing to the drop in earnings from last year.
Tesla net income and earnings drop more than 20% from last year
PUBLISHED WED, APR 19 202312:37 PM EDTUPDATED WED, APR 19 20238:49 PM EDT
thumbnail
Lora Kolodny
@LORAKOLODNY
KEY POINTS
- Tesla’s Q1 2023 revenues and profits came in very close to expectations, based on a survey of analysts from Refinitiv.
- Tesla specified in a shareholder deck that “underutilization of new factories” stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year.
Employees of the Tesla Gigafactory Berlin Brandenburg work on the final inspection of the finished Model Y electric vehicles. The Tesla plant was opened and put into operation on March 22, 2022.
Patrick Pleuil | Picture Alliance | Getty Images
Shares in electric vehicle maker Tesla dropped more than 4% after the company reported first-quarter earnings after the bell. Here are the results.
- Earnings per share: 85 cents adj. vs 85 cents expected, according to the average analyst estimate compiled by Refinitiv
- Revenue: $23.33 billion vs $23.21 billion expected, according to Refinitiv estimates
Tesla specified in a shareholder deck that “underutilization of new factories” stressed margins, along with higher raw material, commodity, logistics and warranty costs, and lower revenue from environmental credits, all contributing to the drop in earnings from last year.
Automotive revenue, Tesla’s core segment, reached $19.96 billion in the quarter, up 18% from last year. Total revenue was up 24%. Revenue from automotive regulatory credits during the first three months of 2023 amounted to $521 million, down from $679 million in the first quarter last year.
On an earnings call, CEO Elon Musk emphasized an “uncertain” marcoeconomic environment that could impact people’s car shopping plans. During a question-and-answer with analysts, Musk said that he expected 12 months of “stormy weather” in the economy. He cautioned that, “Every time that the Fed raises interest rates, that’s the equivalent to an increase in the price of a car.” He also said, whenever there’s uncertainty in the economy, people will generally postpone “big new capital purchases like a new car.”
He said, “We’ve taken a view that pushing for higher volumes and a larger fleet is the right choice here, versus a lower volume and higher margin,” but noted he expects Tesla vehicles “over time will be able to generate significant profit through autonomy.”
When the company began to discuss its ambitions in self-driving technology in 2016, Musk said the company would conduct a hands-free trip across the US by late 2017. It has yet to complete that mission.
Tesla Energy revenue soared to $1.53 billion, up 148% compared to the same period last year. Tesla’s energy storage systems deployment increased to 3.9 GWh, or by 360% the company said. These lithium-ion battery based energy storage systems, made by Tesla, include the home backup battery, called the Powerwall, and the utility-scale Megapack system which enables utilities to store and use more energy generated from renewable, but intermittent, sources like solar and wind.
Tesla’s first-quarter earnings call was livestreamed via Twitter, a first for the electric vehicle maker. CEO Elon Musk sold billions of dollars worth of his Tesla holdings in 2022 to finance a $44 billion buyout of the social media company, where he is now also CEO.
The company cut prices on its vehicles at the end of last year and into the first quarter of 2023, including additional cuts Tuesday night. At the same time, Tesla is charting ambitious plans for expansion and increased capital expenditures.
Tesla currently sells four EV models, which are produced at two vehicle assembly plants in the U.S., one in Shanghai and another outside of Berlin.
Shareholders who submitted questions ahead of the earnings call for management’s consideration were seeking updates on the company’s trapezoidal, sci-fi inspired Cybertruck, the company’s energy division, and the timing for a new model vehicle from Tesla.
On the call, Musk said Tesla is now building “alpha versions of the Cybertruck” on a pilot line. The company intends to produce the Cybertruck at its Austin, Texas, factory. Musk said he anticipates an event to kick off Cybertruck deliveries in the third quarter of 2023.
In 2023, Tesla expects to produce 1.8 million vehicles, Musk reiterated, or possibly an “upside” volume of 2 million vehicles this year.
In early April, Tesla reported vehicle deliveries of 422,875 vehicles in the first quarter, the closest approximation of sales disclosed by the company. Production was slightly higher than deliveries for the first three months of 2023 at 440,808 vehicles.
A month earlier, Musk announced plans to build a Tesla factory in Monterrey, Mexico, a day’s drive from a relatively new factory in Austin, Texas. And more recently, Tesla said it plans to set up a factory to make Megapacks, or large lithium ion battery-based energy storage systems, in Shanghai.
According to a financial filing published in late January, Tesla expected to spend between $7 billion and $9 billion in 2024 and 2025, an increase in capital expenditures of about $1 billion in the next two years.
Tesla shares have rebounded this year from a dismal 2022, when they lost about two-thirds of their value alongside a plunge in tech companies. The stock is up 48% in 2023.
Victor J Merino (@Victor_el_DM@mastodon.art)
Attached: 1 image So, Twitter :twitter: decided to pull a DeviantArt move and change its Terms Of Services to include anything you post there on their AI dataset, to re-publish your art and benefit from it without your consent or compensation. :twitter: TIME TO DELETE YOUR ART PORTFOLIO ON...
Steve Herman (@w7voa@journa.host)
"WIRED learned Wednesday afternoon that senior reporter Dell Cameron's Twitter account was permanently suspended after he reported on Matt Walsh's Twitter account being hacked. Neither Dell's story nor his Twitter feed contained hacked materials. We do not believe his account violated Twitter's...
James Gleick (@JamesGleick@zirk.us)
Musk systematically punishes reporters on Twitter for coverage he doesn’t like. For this reason alone, no journalist should be on Twitter. https://journa.host/@w7voa/110228528322091511
edit:
Dell Cameron 🐈⬛ (@dell@journa.host)
Attached: 1 image Just got permanently suspended for publishing this story: https://www.wired.com/story/matt-walsh-twitter-hack-doomed
Last edited:
National Weather Service accounts were not granted API exemptions by Twitter
Public safety accounts will still be limited unless they pay up for Twitter API access.By Matt Binder on April 18, 2023
According to the National Weather Service, Twitter is not planning to exempt is public service emergency weather alert accounts from the platform's new limited API rules. Credit: Bob Al-Greene
On Friday and throughout the weekend, multiple National Weather Service (NWS) accounts announced that Twitter had removed their API access, which would disrupt crucial potentially life-saving automated emergency updates. The move came as Twitter prepares to transition its currently free API service to a paid subscription model starting at an exorbitant $42,000 per month for Enterprise access.
Twitter users were immediately outraged by the decision. Many advocated for the company to make exemptions for important public service accounts, like the NWS, which provides vital alerts during extreme weather events. Then, suddenly, a few verified "breaking news" Twitter accounts shared an update: Twitter had reversed course. Elon Musk and company was going to make that exception for NWS accounts and allow them access to the API without limits. Media outlets like CNN(opens in a new tab) quickly covered Twitter's apparent change of heart. Twitter users were jubilant over the news.
Only, it's not true.
Mashable reached out to the National Oceanic and Atmospheric Administration (NOAA), the branch of the U.S. Department of Commerce which runs the National Weather Service, to confirm the unofficial reports that have spread on the platform.
"Twitter informed NWS there are no plans for exemptions," National Weather Service Director of Public Affairs Susan Buchanan told Mashable in a statement.
Mashable connected with the NWS once more to confirm again and Buchanann reiterated in a separate email that the statement is accurate. As of now, Twitter has said it will not provide API exceptions for the NWS and has not provided the agency with any further official communication on the matter.
As proof of the change, some Twitter users shared a tweet from the NWS's Tsunami Alerts account, which announced on early Sunday morning that its API access was restored. But according to the NWS, Twitter only restored temporary API access via the company's old API plans, which Twitter is planning to sunset in a few weeks. Also, the restoration only affected some NWS accounts, with others still currently unable to post automated weather alerts. As of publication, the NWS said that it still expects the Tsunami Alerts system, along with any other NWS accounts with API access, to lose that access in a few weeks when Twitter says it will fully switch to its new API plans.
"While some of these accounts were reinstated over the weekend, some remained suspended this morning," the NWS said. "None of those accounts had exceeded Twitter's new API limit."
The spread of unconfirmed reports
It appears that the report(opens in a new tab) that Twitter was making an exemption for NWS accounts originated with a Twitter account that goes by the name "T(w)itter Daily News.""NEWS: Twitter will allow the National Weather Service accounts to continue Tweeting weather alerts without limits," the account tweeted on Saturday night. "Great Job @TwitterDev."
Other media outlets and "breaking news" Twitter accounts seem to have then run with that tweet as the official update. In CNN's report, the media organization even attributed that tweet directly to Twitter.
However, that account is not an official Twitter account. The account handle is actually @TitterDaily – Twitter without the "W." The reason for that is because Twitter does not allow users to create usernames with the word "Twitter" in it. Usernames that include the word "Twitter" are solely reserved for official company accounts.
The @TitterDaily account is verified with a blue checkmark. But, that's because the account pays for Twitter Blue, the Musk-created Twitter service that allows any user to pay $8 per month in order to receive a verification badge.
In reality, @TitterDaily is just a fan-run account created by a longtime supporter of Musk and Tesla. Musk did recently follow the account and subscribe to it via the platform's Subscription service. Mashable reached out to Twitter to find out if there was any truth to these reported exemptions, perhaps communicated to @TitterDaily from someone at the company. However, Twitter no longer responds to requests from the press. In addition, as told to Mashable multiple times, Twitter explicitly said to NWS that there would be no exemptions and there has been no communication that NWS has received since that says otherwise as of Tuesday, April 18.
How Twitter's new API rules will affect public safety accounts
The NWS tells Mashable that Twitter's API policy changes will limit its accounts to 50 automated tweets per 24-hour period. It expects that Twitter will officially switch its accounts to the new API limits on April 29, based on what the company has previously communicated(opens in a new tab) to developers."Since 2014, NWS has used Twitter’s API service to auto-post the latest warnings for tornadoes, severe thunderstorms, and flash floods to Twitter feeds that are followed by emergency managers, the media, and people in the path of dangerous weather," the NWS said in its statement.
With Twitter's new limits, the NWS will be unable to tell which automated emergency alerts go through and which don't get posted. This will make the NWS Twitter accounts unreliable during weather emergencies.
"For every warning issued, seconds could make the difference between life and death," the statement reads, explaining how the automated emergency alert posts have an advantage over the forecasters who also tweet from the accounts.
And it isn't just NWS accounts that have been affected.
Twitter's API changes threaten(opens in a new tab) various public transportation accounts from being able to share up-to-the-minute information on the platform. At @TitterDaily's urging, earthquake tracking accounts like @LastQuake(opens in a new tab) and weather services like Instant Weather(opens in a new tab) in Canada have spent the past few days asking followers to plead with Twitter and Musk to provide these seemingly non-existent API exemptions to their accounts as well.
As for the National Weather Service, the agency seems prepared to do its best under Twitter's new free API limits. Twitter does provide a $100 per month per account API plan, but the company itself describes this subscription tier as being for "hobbyists" or "students." After that, the next paid API option from Twitter is the $42,000 per month Enterprise plan. As of now, it does not appear that the National Weather Service is prepared to pay for such access.
The NWS tells Mashable that Twitter's users should not depend on NWS Twitter accounts for the "most current information for forecasts, watches, and warnings."
"We advise people to have multiple ways to receive weather forecasts including weather.gov(opens in a new tab)," the NWS said.
The full statement provided to Mashable from the National Weather Service can be read below:
What does that mean for real nikkas?
Musk threatens to sue Microsoft over Twitter data - BBC News
The multi-billionaire was responding to the tech giant's plan to drop Twitter from its advertising platform.
www.bbc.co.uk
Lol, threaten Microsoft brehs....
Slim
Superstar
Honestly don't know if he's trying to distract others or he's really the one distracted...
I posted in the Boiler Room thread that Tesla was down 5% in the after hours trading session yesterday and literally during that time/right before the earnings call he's arguing about "Gender surgeries" and Microsoft lawsuits on Twitter.
And now the SpaceX rocket exploded after takeoff. Lol.
What does that mean for real nikkas?
It means we been research for a decade Lmao
Spidey Man
Superstar
Musk threatens to sue Microsoft over Twitter data - BBC News
The multi-billionaire was responding to the tech giant's plan to drop Twitter from its advertising platform.
Lol, threaten Microsoft brehs....
That will probably go as well as Disney vs pudding fingers. You know Microsoft got the seal team 6 of lawyers, and Twitter has poop emoji auto replies. Microsoft also has real money unlike the emperor of Mars
You don't mess with the OG Nerd.
People who don't pay have started to lose their blue checks.
People who don't pay have started to lose their blue checks.
still seeing legacy verified users when I use filter:verified
Last edited: