저자: Kevin · 외국인
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테슬라 주가가 역대 최고가 근처(약 6달러 차)에 있으나, 무감독 자율주행 영상 등 로보택시 진행 기대감에 따른 랠리로 본다. 다만 밸류에이션(PEG 6.7 등 높음), 자유현금흐름 취약(세액공제 소멸 후 분기 약 4억 달러), 순이익률 약 5%, 비트코인 보유 평가손실 우려, 머스크의 정치 재개입 리스크를 지적한다. 영상 중반 Rivian의 라이다 주장과 자신의 FSD 경험을 언급하며 자율주행 완성도에 의문을 제기한다. 결론적으로 하락 리스크가 크므로 조정 시 분할 매수가 낫다는 입장이다. 영상 말미에는 자사 부동산 투자 상품 홍보가 이어진다.
다듬은 글
Well, it's that time again to do a full analysis on what the heck is going on with Tesla stock because we are within $6 of all-time freaking highs on Tesla. And it is coming because of quote unquote leaked footage of a Tesla driving itself without someone in the car. At least from what we can tell. Uh, and this makes a lot of folks pretty dang excited because if we pull up robo taxi progress charts, the big thing pretty much on any of these charts that we see that circulate, there are a lot of different accounts that track this, you know, here's uh Jonathan who tracks this.
A lot of different accounts that track this robo taxi progress. And what's important to remember is the overarching key out of all of these charts, the thing that everybody cares most about is not whether there are operator ads or whether there's a test program or whether it's geoenced or not or how many cars are deployed.
Nobody really cares about any of this. The early applications for taxi service or whatever. What people care all and solely about is this no safety monitor because we Americans and even international folks, we don't want to drive anymore. We want to sit in our car and if it's a Tesla, you already know the feeling.
Elon Musk just made it so you don't you can now text and drive and FSD will actually work in the latest update. Kind of incredible. Not recommending it, just saying. kind of incredible, especially since people kind of do it anyway and then they have to like disengage autopilot and they start driving with their knee.
You know, Elon's lamented about that before. Like it'd be safer if people are going to text and drive to text and drive with autopilot on rather than off. So, you know, if that's safer, do we save lives by just leaving autopilot on? Probably. Of course, the extreme answer is, well, nobody should be texting and driving, but let's be real, like pretty much everybody does.
So, uh, doesn't make it okay, but it is what it is. So anyway, obviously the big next step is can we get to the no safety monitor stage? And what's gotten a lot of people really excited right now is this particular video right here, which uh says, "Just saw a Tesla with no one in the car." And this got a lot of people very, very excited.
Now, there are some asterisks in this. First of all, this video happens to be posted by an account that literally has no history. Now, maybe they just ripped it off of Reddit or whatever, but they're implying that they saw this vehicle. And it happens to be followed by Omar. We're not sure when he followed uh uh you know this account, but the point is not only is it posted by somebody with no account history, you could clearly see there's a Cyber Truck right here with somebody sitting in the backseat of the Cybert truck, you know, ready to video this.
I'm not saying this is necessarily rigged by Tesla where, you know, you happen to have a follow car right behind it, probably with a kill switch and a Cybert truck right next to it to videotape it. candidly. Uh, who knows? Some people say this is rigged. Either way, the car is driving itself. In fairness, there's nobody there and the car is driving itself.
So, like, you know, how rigged can it be? It obviously is. Now, is it possible if the weather was ideal and that, hey, you know, maybe these were perfect conditions where they got out of the car, took the safety monitor out, and did this small test of a segment. Either way, even that would be great.
Even if these are all Tesla employees and the Tesla accounts including their chief autopilot engineers and Elon Musk and the at Tesla account are all retweeting this message. Oh wow, look a driverless car. Who could have ever seen that? It is a sign of progress, right? You removed a monitor and there is progress here.
Now how does this affect the valuation for the company, right? Because obviously the valuation is what everybody has a question about, especially since we really want to see the stock price keep moving here. I mean, after all, we did see Ross Gerber here, right on X, got the new Tesla FSD update and within 2 minutes of driving into the sun this, and it's the takeover error.
And then he says, "These cars can't drive into the sun." To which, of course, I appropriately and quickly replied with, "We're not going to the sun. We're going to the moon." Anyway, let's talk about that valuation because there's obviously with Tesla always going to be jadedness on both sides of the Tesla debate and we really got to hit Tesla valuation.
And I will say I should probably also just to make sure this is a thorough recap of what's going on with Tesla. I should probably also just briefly mention what Susie Wilds apparently had to say about Elon Musk. And um I I kind of think it's not a surprise. It actually kind of is probably good because this is what we think about Elon Musk anyway that he's, you know, an excessively hard worker.
But you're going to hear these comments, so I may as well address it and then we'll get to the fundamental valuations. So in Vanity Affair, apparently the Vanity Affair reporter has been talking to Susie Wilds for a while uh about various different people. She says that Trump is like an alcoholic, although you know, supposedly he doesn't drink, just that his personality gets really enhanced like all the time.
Uh, and you know, she was upset about tariffs. She was upset about Pam Bondi's handling of the Epstein files. But this was interesting to me. It was that Elon Musk is a complete solo actor. Well, we kind of know that, you know, we we know that Elon is uh basically like, you know, if anybody's going to get it done, it's going to be him.
Now, she goes on to say that he's sort of like a jacked up vampire, kind of implying that he doesn't sleep because he's on drugs all the time, which she does go on to literally say, "The challenge with Elon is keeping up with him." She told me he's an avowed ketamine user and he sleeps in a sleeping bag in the executive office building in the daytime.
He is an odd odd duck. I think geniuses are, you know, it's not helpful, but he is his own person. She bagged on him for how quickly he shut down USAD. Uh she thought there was a better approach than just going in and firing everybody and locking people out of their offices, especially since immunization programs being halted in Africa would lead to the death of many people in Africa.
Which of course then you get people on the other side of they're like, "Why are we immunizing people in Africa?" And the people on the other side say, "Because that's called diplomacy, so we could put the US label on it so hopefully we breed fewer terrorists in the world." You can make arguments in many different sides, but this is a freaking Tesla video.
Okay, so anyway, Elon's attitude is you have to get it done fast. If you're an incrementalist, you just won't get the rocket to the moon. And so with that attitude, you're going to break some China. But no rational person could think the US ID process was was a good one. So Susie kind of has some not great things to say here about Elon.
It's kind of like not great, not terrible. Kind of like the economy right now. Like not great, not terrible yet. Hopefully we kind of keep staying up. Uh and and I don't really love where Axios is going because I do think this creates some risks in 2026 that if Elon Musk is going to get back into politics, I get nervous because we've had some really negative price action uh in Tesla.
The last time Elon got into politics. Remember pre uh liberation, Elon got into politics and what did it do for the stock. It's like when Elon's not involved in politics, this stuff goes to the freaking moon. I mean 480. This is freaking awesome. Uh but you know what happens if we go over here to oh Elon's going to get into politics like after the first one month rally of us hitting all-time highs when he actually got into starting working at Doge.
This crap went all the way down to $218, man. That's like a more than 50% decline. I mean, gorgeous breakout over here off of $347 on robo taxi progress is why we had this breakout over here. Really awesome breakout. Now, we're in no man's land on a technical basis. We have all-time highs to cover. Uh, and that's it.
Uh, you know, with which we're within, you know, now 10 bucks of during the recording of this. But that said, you know, seeing Elon potentially get back into politics, I'm not really happy about this, right? Like Elon Musk has begun funding the GOP's House and Senate campaigns for the 2026 midterms.
He just can't stay away. Uh Musk, who threatened to launch a third party and support challengers to Republican incumbents during his dispute with Trump, is now firmly back on the GOP's plan. basically to maybe try to get back in the favor of of Donald Trump, he's got to now spend more money to uh uh to to pro prop up the Republican party.
Uh so I don't love hearing that. You know, at the same time as obviously I don't love hearing that people are walking away from electric vehicles and I get it like you know I think the first people who bought electric vehicles, myself included, uh were were kind of the easy wins. You know, I bought first time I bought an electric vehicle was back in uh in 2017 all electric and I had a hybrid before that.
You know, the Prius. Uh y'all have Okay, I shouldn't say it. I shouldn't do the dad jokes, but anyway, uh you know, the Tesla's right now announcing that they want to move battery production to Germany. I'm literally getting this across the tape right now, creating conditions at Gigafactory Berlin Bradenbird to produce up to 8 gawatts of battery cells per year starting in 27.
Uh uh this is the end. To this end, we are investing another threedigit million amount in battery cell production. That's a weird way to put it. So many hundreds of millions of dollars going to battery cell production in Germany. Okay, that's fine. So like you know what what like where do we stand with politics being a negative now for Tesla?
Where do we stand with the valuation of this company? And you know, really, is it reasonable that people are walking away from electric vehicles? I mean, you've got the European Commission pulling back on their 2035 targets to phase out ICE vehicles. Now, we're extending those, basically allowing people to, you know, focus on hybrids longer term.
Ford is going into hybrids. Remember, the last executive at Toyota, Mr. Toyota, got booted out of Toyota because he said hybrids were the future. and everybody laughed at him during the Tesla boom and they're like, "Yeah, right, bro. You guys are just pissed. You're so behind at Toyota." Now, Toyota has a very reliable car.
It's a fantastic vehicle. Like, if I had to buy a car, you know, if if there was no FSD. If I had to buy a car, I would buy a Toyota all day long. Uh, you know, assuming I didn't need like the practicality of like a sprinter van or something, you know, which which I also had to buy. Uh, but then again, I got a lot of children.
I seven children. But anyway, like there are maintenance issues that create some problems at Teslas. You know, I wrapped my Cybert truck. I love my Cybert truck. I wrapped it and we take it into service and they're like, "Oh, we need to take these panels off because they're recalled." And we're like, "Yo, what the hell?
We don't want these panels off because if we take the panels off, then we're going to have to go take these back to LA to get them wrapped uh by uh you know, by by the rap company just for that stupid part." It's like just leave it on and they're like, "Oh, well, it's going to fall off. You know, it's a recall piece." It's like this is a pain in the ass.
You know, those are the somewhat the quality things that unfortunately, you know, people do lament about and and they are legitimate issues that we're kind of concerned about when it comes to uh Teslas. Now, uh Toyota is going to have its own problems, too, but maybe not as many. like something that's been really driving me nuts lately and eventually I'll get it taken care of.
But my Tesla, the back trunk leaks when it rains. And it turns out that when they installed I I filmed this on my glasses, so the footage isn't that great. I've got a rack on the back, you know, like the cyber rack or whatever. It's fully wrapped. It took forever to install this. The Pelican case on the top.
See that right there? That's a whole seal section that's missing at the back of the tunnel cover. So, when it rains, it just rains right into there, which is really annoying because I had a it was a little bit of a mess, but I had a bunch of junk back here uh in the trunk and uh you know, I was I was looking at some of the stuff that I had back here and I just had some miscellaneous Lowe's bags and stuff.
All of them were soaked. I think when I picked up this right here, look at this. You could actually see uh let's just kill volume there for a moment. You can see if I just sort of poke it, my finger goes right through it because it's all wet, you know? So, I have spent a lot of time kind of customizing this to where I have a lot of practical real estate things like my ladder is tied up on the right over there.
I keep things in the back here like spare face plates and smoke detectors and things just so when I go to rental properties I can easily drop them off because I always need like one extra face plate or a Sharpie or blue tape or whatever, right? And it's really annoying. So, I always like to keep it back there.
But, it all got soaked cuz it got rained on. So, you know, there are some service complaints and and like I'm not really happy with our local service center. And then I promise I'm going to get in the valuation. You know, we bring the car to the service center. They're like, "You need to empty all the trunk." So, we drive it back, round trip for an hour, empty the truck, go back, and then they're like, "You actually need to remove the whole rack." And we're like, "What's your freaking problem?
We just U-turned for an hour for you to tell us that." Like, get your act together. And so now, you know, it's going to take eight man hours to uninstall the whole rack just to fix their dumbass problem. But whatever, it is what it is, right? Those are just I think the things where people get nervous about being those next adopters of new products because the Cybertruck's obviously a newer car.
Although I will say when I got the Model X in 2017, it also leaked and it was also missing a water seal. So maybe shame on me, right? Fool me once, shame on you. Fool me twice, shame on me. I actually made a video back in 2017 of my Tesla leaking cuz they forgot the rain seal. It's crazy. like full circle, right?
But anyway, all that aside, let's actually talk about the fundamentals of this. Somebody says, "Kevin, just park it in the garage." Okay, I don't have a driveway, okay? Like I I I don't blow money on houses other than investments. I spend more money on rental properties. Well, House Act does at this point, you know, that's not me.
Uh but uh we spend collectively more money on rental properties than we do uh uh certainly on ourselves or anything, right? And that's how it should be. We're big fans of investing and buying the dip. We like fixed upers. We're ending our fund raise for house hack at the end of the month. But anyway, let's actually get fundies here on Tesla.
So when we go into the fundamentals of Tesla, at least we have fundamentals, unlike this 21 Capital scam. I don't even know why I still have this up. Let's close this down cuz that's a real scam. But let's focus about on Tesla here. So, first what I'd like to do is I'd like to analyze the margins going back to their second uh to last earnings report.
And we're doing that because we didn't get the $7,500 boost of expirations, right? And there's some really important takeaways when we look at the fundamentals here. So, first, we're eventually going to lose all of these automotive regulatory tax credits. We know that we have gross profits of about 14% on vehicles less regulatory credits.
That's actually not bad. like we are contributing to gross profit by selling cars. I make the argument that this company is a $500 million car company. Uh sorry, $500 billion. I did it again. $500 billion car company and a $1 trillion startup. And you'll see why in just a moment. But overall, your pricing power was actually relatively stable going into Q2 on a gross profit level.
And vehicle gross profit was relatively stable. Uh, and that's excluding the automotive regulatory credits, which is great because then when we went into Q3, we we also got a nice pump because automotive sales were able to skyrocket because of that expiration of the $7,500 pump, right? Which is great.
Gross margin for autos actually increased slightly uh into the third quarter from the second quarter, which is fantastic. It's still doing it over here. Uh and if we look at January, and these are sort of like some of the headwinds we have, we have to know that we are going to go into a period of time with fewer tax credits, a potential $170 million crypto hit.
That's why we were searching for crypto is because we have about $720 million of Bitcoin as of September 30th. But Bitcoin was trading for about 140 or $14,000 per coin then. Now we're sitting at 87587ish. That's a loss of about $170 million. So, we're going to see a decline from fewer credits, so likely lower sales, a crypto hit, and likely lower cash flow.
Now, I don't actually think it's possible for our gross profit to go negative. Some people like the Mly Fool did an argument about how I, you know, they said something about sales going negative and like gross profit whatever. I don't think it's possible for gross profit to go negative because frankly if you look at the gross profit on vehicles we're actually only contributing about $3 billion of gross profit uh or about $3 billion of that five is coming from car sales which means even if car sales went to zero they would still be gross profitable.
So there's really no chance of them going negative on a gross profit side. But yeah, dude, their net income is going to get hit if their net income uh falls uh you know by 500 mil. Wouldn't be a surprise to me. You know, if we get a decline of about 1/3 20% to about 1/3 somewhere between -20 to - 33% in car sales.
The worst thing that's really going to happen here is we're going to see free cash flow go negative. And free cash flow is important to look at. So the last free cash flow report was great because we had the expiring tax credit. We had like $4 billion of free cash flow. Phenomenal. That was over a 9-month period.
If you divide that out, works out to about 1.3 per quarter. Even if you said that was all because of that one quarter, we really have to cast that out as an anomaly because of the expiring tax credits and the rush to buy Teslas. So that's why I have the 2Q report here, the second quarter report here.
And if we look at free cash flow, uh, and you subtract out the tax credits, you're really only sitting at about $400 million of free cash flow per quarter at Tesla. Now, out of MAG 7s, it's kind of crap. But that makes sense cuz they're a manufacturer. They're building, you know, some people call them the the world's vending machine, right?
So Google has free cash flow in one quarter of 18 billion. Nvidia 21.3 billion, Apple 24.7 billion. Even if Tesla kept 4 billion, they would still be the stepchild of free cash flow in the MAX 7. So free cash flow lags substantially at Tesla. This means we're not really driving Tesla's valuation on the basis of cash flow.
And that should be obvious at this point because if you look at a PEG or price toearnings growth ratio at this company, of course, we're not valuing Tesla based on their old numbers. And these are based on forward earnings, by the way, for the end of the year. And then looking at about a 42% growth rate for Tesla on EPS over the next four years, you're looking at a PEG ratio for Tesla of 6.7 6 bullish moon.
Anyway, it's really high on a price toearnings growth basis. Now Nvidia's price to earnings growth basis is 1.5 and Google's is 2.2. And so if you actually look at this as on like a price to earnings growth basis, this suggests that Nvidia has 71% upside. Google has 18.6% upside and Tesla as a manufacturer actually has 75.4% 4% downside and 60% downside if you value them as a service provider rather than a manufacturer.
See the upsides here I calculated at a peg of 267. Manufacturers I calculate at 167. That's where I get my math from. Right? These are the we break this down every day in the course member live streams uh in our um alpha report. If you're not part of that yet, make sure you join atmeke.com. It's where I upload these financials as well, so you can uh get the sort of history of them.
But, uh, obviously, you know, Tesla's not going to be valued off free cash flow. Tesla's not going to be valued off their PEG ratio, and they're certainly not going to be valued off of their net income margin. Tesla has a net income margin in the second quarter of 5.29%. That actually worsened in the third quarter.
We got to a net income margin of just 4.9%. That means only $5 out of every $100 they make is actually going to net income. Unfortunately, Nvidia as a comparison has 55 cents out of every dollar coming to the bottom line and Google has 29 cents coming to the bottom line out of every dollar. Uh Apple's somewhere in the high 20s.
Microsoft is in the 30s. You know, these companies are bringing a whole lot more on the mag 7 basis in Netflix is another one. They bring a whole lot more to the bottom line in terms of free cash flow and EPS. So why the hell is Tesla at all-time highs? Well, it's because this is a trillion dollar startup.
That's what you have to understand. This is the pump factory. I'm not saying it's bad. We're just saying it is what it is. Okay. So Tesla's pump factory. Let's understand this. This is the pump factory. So suggesting that Tesla shareholders could get early access to the IPO for SpaceX. I made a video, you can check it out.
It is uh just type into YouTube meet Kevin SpaceX 10X or whatever. Uh and you'll see the video. Uh in it I talk about how my venture capital company has invested in SpaceX. You know, we're probably a three or 4x on that investment. We've also invested in Aptronic, which was a robotics startup that was about to go bankrupt.
Uh and now they've like four to 5xed also, which knock on wood is great. uh and they're doing really really well right now. But if you look at those, those are both private startups. Tesla is basically a public startup. You don't have to know a banker at Morgan Stanley to get access to these. You don't have to uh fly on your plane to visit Appronic and sit down with the CEO of the company and basically go, you know, if you guys don't get this money, you guys are effed and how can we help you, right?
like that's what I did as well as a venture capital person. I sat down with the company's executives and decided to make the investment, right? Uh so like with Tesla, you don't have to do that stuff. You don't have to hop on a plane and do those things. You just swipe up on Robin Hood and what do you get?
Well, you get potentially this idea of early access to SpaceX. you get uh this uh um you know no driver enthusiasm for robo taxis and maybe the cyber cab, you know, the spotting. I think it's a little bit of a stock pump. Okay, we know bad news is coming. Elon getting back into politics, the valuation is at all-time highs.
The stock is at all-time highs and the numbers aren't that great. The free cash flows, the net income, none of those things are that great. You know what is nice is they do have cash. I will give them credit for that. We've got free cash of $18.7 billion. Don't be confused or misled by people going, "Kevin, you have 40 billion in cash, but you got to take off the bills." Okay?
If you have $100 of bills and $120 on your desk, you really only have $20 of free cash, right? Tesla's got about two to three years of free cash, even if they started losing money on free cash flow. So, I don't think that them going negative free cash flow is that bad. I do think the loss of the $7,500 tax credit, the 0% APR financing they're doing on the new Tesla at 399, which I think is overpriced.
It should be lower than that. Uh I do think that the Bitcoin loss that they're going to suffer uh will will show up in EPS. They're going to take that loss. Uh in their margins are probably going to compress on autos, right? Like all those things are negative tailwinds, but that's the $500 billion part of the business.
The trillion dollar part of the business that people want is the Optimus robot and the potential that this could be a robo taxi company. That's what people want. People don't want to hear anymore about, you know, how Whimo is winning because they have LAR sensors and they cost way more. This is old news.
We already know about this. Rivian tried to slam Tesla. Did you hear the slam? I mean, let's let's look. Rivian pump, by the way, at least somewhat on this. I mean, the stock has sucked, right? Tesla's at all-time freaking highs. Rivian is basically at all-time freaking lows. Not quite. Alltime lows were $8 or $17, but they were once at $180.
I remember shorting them over here. Uh, we talked about that in our course last, too. But anyway, they had this big pump because they have this autonomy day and they're basically full U-turning the pump. Now, what did they say in the pump? Well, what they said during their autonomy pump was lidar, baby.
Here it is. Oh, sorry. I meant to expand this for Sorry. This is like our whole reinvest course. This isn't even all the videos. I did a whole new course in the Me Kevin membership for all the course members who were in there. It's like 4 hours or whatever. Um, but anyway, I I saved this clip from Rivian.
So, let's play this portion of their um their autonomy day here. And uh this is the part where they get applause and the stock pumps a little bit, but any Tesla investor is just going to roll their eyes over this. But let's listen to what they say and how they try to slam Tesla indirectly, kind of directly.
The LAR, are your eyes rolling yet? Told you your eyes would roll. The LAR is an optical sensor, but its strength comes from the fact that unlike the camera, the LAR has an active light source, enabling it to see it much better in the dark. Another advantage of the LAR is that it can provide a three-dimensional view of the world, unlike cameras, which we know provide a two-dimensional view, requiring the AI models to infer the depth, which they do, but with a lot less accuracy.
Okay, so there's a point to this. The point to this is Ross Gerber's problem is could potentially have been solved by LAR. You know, people bag on on Ross a lot when it comes to Tesla, but I think he actually makes valid points. The fact that his windshield was dirty, in my opinion, didn't really have anything to do with the fact that the car, uh, which has forward- facing cameras and side cameras, has trouble seeing in certain light environments.
The lady's probably right. The inferences that you have to make with a camera are going to be less accurate. We know this. Nobody really cares who's investing at Tesla, though. you know, nobody really cares about this or the windshield dirty this that or whatever, you know, and obviously we could joke about we're going to the moon or not the sun, but Rivian's probably right.
You could probably get better accuracy with the lighter, but the question is, do we need that better accuracy? And that's that's the bears versus the bull debate on Tesla. Tesla bulls say we don't need it. We have enough accuracy. The car can drive itself without LAR. And then of course you have uh the the uh flip side that says why don't you just use Nvidia's neural nets for autonomy.
Well maybe because Tesla has way more data but why not just use Nvidia's neural nets which can then you know put all of this information together. And I will say I can somewhat corroborate which I just um caught up a few days ago. I don't know if like better sensor data would have fixed this but this was a little oopsy dupsy that I had to take over on.
I mean, not the end of the world. Stuff like this happens, but this is the kind of stuff that really needs to stop happening for us to go uh, you know, fully autonomous comfortably. This is version 14 on the Tesla Cybertruck from uh, Sunday, December 14th. So, that would be 2 days ago. So, um, this was the forward- facing shot of my Cybert truck.
And I'm on autopilot. And you'll see right here this lane is going to come to an end. So you can clearly very clearly see uh the arrow right here and I have to take over. So once we you know start going to the left I end up taking over uh cuz I'm like this is lame. But anyway, I'm on autopilot to go you know follow basically this blue car because I don't want to drive into this neighborhood.
I want to go home. Uh, and uh, the car kind of totally misses. Two arrows, three arrows, and then it decides to jump over into the right lane over here, which is a right turn only lane, even though the nav is set to go straight, right? So, like, you know, would other sensors help this? Is this just more training?
I don't know. It never used to do stuff like this. So, and I think that's one of the frustrations that some of us see with FSD is that we're kind of sometimes it feels like going two steps forward, one step back. And it's kind of like, all right, when are we going to be done with the one steps back?
Like, this is kind of getting exhausting. Like, I don't want to go one step anymore back. I just I just want to go forward. But, you know, I think we're making decent progress. And the more of this progress we make, the closer we can get to, well, frankly, having fully self-driving cars. Are we there yet outside of kind of like a rigged demo?
Probably not. You know, we probably still have some work to do with that. Uh, is there always going to be a complaint amongst uh, you know, the service uh, for Here, I'll show you my Tesla uh, and and some of my my rigging around it. Is there always going to be a complaint about service? Honestly, yes.
You're going to have that kind of complaint for any manufacturer, whether it's a Lucid or Riven. Like, you're always going to have manufacturer issues. Uh it's just the question is what what is the incidence of issues you know the leaking car and the service around that frustrating because look at the car right so this is my cybert truck I put a lot of energy and time uh into this this rack is very frustrating because it's so tight to the glass right here that you worry about breaking the glass.
It's very hard to uninstall this and reinstall this. The I got the uh uh Starlink installed right here. It's fully wrapped. They're telling me this is the panel that needs to be removed and it's going to destroy the wrap because that's recalled. Uh the back of the car leaks, the tunnel cover. I'm like this is, you know, those are just the frustrations of buying a, you know, December 2024 Cybert truck.
So, I asked Gemini to solve the problem for me. This is how Gemini solved the problem of my leaking trunk. [sighs] So, I guess with that said, that's my full breakdown of what's going on with Tesla. The valuation is a big fat risk factor. We know that uh we know that Elon getting back into politics is a risk factor.
We know crypto is going to be a negative EPS. Wall Street is guiding for positive EPS uh next, you know, this quarter. They're looking for 1.584 billion of net income on the adjusted basis. Uh and so, you know, there's there's just some, you know, something to be desired on those numbers. I think uh I think we might have a miss on those earnings.
Uh and it would be reasonable. I think most long-term investors would anticipate that. Uh I guess I would say like if I wanted more exposure to Tesla, I I would certainly wait for a dip to buy more than sort of hop on the bandwagon, especially with some of the larger issues that we have in the space of private credit or otherwise.
Uh but u with all that said, hey, you know, if you want to invest in my real estate startup and our uh AI release, go check ou. Our fundra is ending at the end of the month. And uh we'd love to have you. If you do click the invest button, you could also buy the lifetime access to our AI. Uh but if you do click the invest button, uh remember that you get uh a 5% yield through the conversion of the stock paid out on a monthly basis.
to invest. I don't recommend obviously go into debt and obviously read the authoring circular. I'm personally very excited about what we're doing with uh with our artificial intelligence. Uh it's made a huge gamecher to uh our our Q4 income already and we expect uh that'll continue as uh as we keep uh releasing uh features for this app. Anyway, thanks for watching. Why not .
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