this post was submitted on 13 Oct 2024
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Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk

Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.

Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.

However, analysts said the event was short on detail and also expressed disappointment over a lack of specifics about other Tesla projects. Musk has a history of making grand projections about upcoming products and failing to follow through in the timeframe he has set, or at all.

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[–] sleepmode 41 points 1 day ago (2 children)

A two seater with lambo doors that look like they’ll immediately get sheared off by a passing truck that can’t see them. A laughable delivery timeline. And the “concept” bus looks like a Dustbuster that’ll get stuck in a pothole or on top of a speed bump with its current ground clearance. It’s almost like he’s deliberately trying to tank the stock making all this impractical shit.

[–] telllos 13 points 21 hours ago (2 children)

But, the cybervan can carry 20 people, revolutionary!!!!!

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[–] assassinatedbyCIA 21 points 23 hours ago* (last edited 20 hours ago)

Being surrounded by yes men and snorting buckets of cocaine will do that to you.

[–] KrankyKong 5 points 17 hours ago (8 children)

I'm just getting into stocks. Would this be a good time to invest now that it's low?

[–] brucethemoose 2 points 13 hours ago

Tesla is a so called "meme stock" detached from how a company is actually performing. I'd say avoid it if you're looking for "steady" buy and hold investing instead of (high tax) daytrader style gambling.

[–] [email protected] 1 points 14 hours ago

Do you actually believe anything he said is true? Follow-up question, are you literate and do you have access to the internet?

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[–] FlyingSquid 112 points 1 day ago (4 children)
[–] Cadeillac 26 points 1 day ago (1 children)

You're having a good time today lol

[–] FlyingSquid 37 points 1 day ago (3 children)

I always enjoy being able to Riker a post.

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[–] [email protected] 89 points 1 day ago (2 children)

Investors we spoke to at the event thought the event was light of real numbers and timeline

Not like Elon is famous for keeping the timeline. Man on Mars and Tesla semi any day now.

[–] Euphorazine 29 points 1 day ago (3 children)

Don't worry, Trump and Elon said that if Trump wins 2024, we'll have a man on Mars before Trump's term is over.

[–] [email protected] 26 points 1 day ago (9 children)

So from someone who works in human spaceflight, this is ridiculously outrageous.

I’m not insinuating that anyone thought it was realistic, but just confirming your suspicions.

[–] niemcycle 20 points 1 day ago

Don't worry, since Trump will install himself as dictator for life, this means he has more than 4 years to get someone to Mars.

Then again, given Trump's age and diet, maybe 4 years is generous in and of itself...

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[–] [email protected] 75 points 1 day ago (2 children)

Is he going to sue the investors?

[–] [email protected] 33 points 1 day ago (2 children)

Sue the stock market for conspiring against the valuation of his companies.

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[–] Mog_fanatic 14 points 1 day ago

“I hope they stop. Don’t invest. If somebody is going to try to blackmail me with investing, blackmail me with money? go fuck yourself. Go fuck yourself. Is that clear? I hope it is.”

[–] givesomefucks 86 points 1 day ago (4 children)

Narayan added that some investors were hoping for a teaser about a lower-priced vehicle, with pedals and steering wheel, that would launch next year. However, none was forthcoming.

Expectations were low....

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[–] [email protected] 53 points 1 day ago (9 children)

Musk is facing a LOT more practical scrutiny now that the cybertruck is an ongoing fiasco. People are rightfully wary of getting excited about a taxi that only seats two people. Anyone who’s been paying attention will also be suspicious of his claims that the taxi will actually cost under 30k, or that it will truly go into production “before 2027”.

I will admit that the van looks cool as hell. Of course, I still think Musk is a piece of human garbage, but I will give him that.

[–] [email protected] 34 points 1 day ago

It's a bus. Elon Musk invented a bus. Now he only needs to invent a time machine, travel back to the 1800s and woo everyone with his new idea.

[–] Mog_fanatic 23 points 1 day ago* (last edited 1 day ago)

I still can't get over the fact that he called the cybercab "individualized mass transit" lol. Wtf does that even mean. Mass transit... For an individual? So like... A car? Or a bicycle? I guess I'm just not smart enough to understand the world's smartest human being ever.

[–] [email protected] 25 points 1 day ago (5 children)

I love the aesthetic. I fully support Art Deco public transportation.

A bus designed by someone who absolutely hates public transportation is pretty funny though. "I wish these seats faced each other so I could sit knee to knee with a stranger." -Nobody Ever

And there's so little passenger space, they have a "luggage" compartment in the front. So I suppose I'm just supposed to put my bag there, out of my sight, then hope nobody takes it before I get off?

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[–] [email protected] 17 points 1 day ago

It's windowless. As someone who gets motion sickness if I can't see out, I would cover the inside of that thing with barf. And the seats are conveniently facing sideways, which is another strong trigger for me, the barf would be aimed directly at the stranger facing me.

[–] Valmond 2 points 16 hours ago

Oh, the cybercrab.

Looks good for a video game. For real life? Nah

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[–] VantaBrandon 17 points 1 day ago

Deport Elon to Mars

[–] [email protected] 39 points 1 day ago (1 children)

I just continue to be amazed that, instead of the old, tried-and-true method of giving people what they want—a solid, reliable car at a good price, and a stellar charging network in the places people want to be—a man of his means keeps trying weird gimmicks.

[–] Viking_Hippie 19 points 1 day ago

It's not so surprising when you consider the fact that he's nothing but a charlatan.

Just a colossal idiot with enough money and little enough self awareness that everyone is indulging his every whim and he never stops to consider that maybe he isn't a visionary and a genius.

[–] [email protected] 22 points 1 day ago

The key risk for this whole bet Tesla is making is the software. I couldn't give two shits about their hardware plans, that will come and it's not the key challenge. Saying "we will have it next year" is just not good enough when you've said it before and ruined your credibility already. This event should not have happened until the software is ready to go, it's worth nothing without that.

[–] [email protected] 10 points 23 hours ago

Especially the person in the background starting Elon's first public robotaxi-trip with a remote control didn't really help.

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