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people go I'm going to short Tesla why don't you short the banks like I mean you may take a 20 risk but they're going to Zero have lost so much money how many times do you have to get your face ripped off to realize you're just an idiot go short a bank and all of those things were Seated on top of massive consumer demand and I think this company is very similar to that ill I had a tweet I put out there hahaha Tesla Q I love it I mean those dummies have lost so much money how many times do you have to get your face ripped off to realize you're just an idiot because the consumer demand is there and frankly it's just unmitigated you cannot stop it that is a runaway freight train and every time I get laughed at a lot um I don't think that the traditional investment community um like some of the ways in which I think about things they you know they laughed me off the stage when I was on Iris Zone Lincoln Center in front of 5 000 people and I picked Amazon in 15.
I was literally laughed off the stage and the three or four people after me were making fun of me guys that I know David Einhorn made fun of me it was just like I was like okay um and then when I did teslan 16 it was the same situation and you know look I simplify what is a very complicated underwriting process to basically give you a one-pager or you know really simple slides with a few words but the reason is because I think like if you can't explain it to your son or you can't explain it to your mom then you're making it too complicated and if you can't write an investment thesis on one page you shouldn't be buying something you don't understand it in my opinion and I think it really tweaks sort of the establishment when I do those things you know when I pitched Open Door in four minutes or clover in five minutes you can see steam coming out of the uh out of the ears of folks because they don't like it whereas you know an average everyday person can actually understand a business in four or five minutes if you actually present it that way so um you know I think CNBC it's kind of a necessary evil at some level yeah um and so you know what I'm trying to do is proselytize and you know ideally I think that the the real escape velocity for me would be to figure out a way to be more um part of a stock twits Community or you know Wall Street bets or whatever it is where I can have a YouTube presence or Discord or whatever I haven't figured any of this out yet but I think like being more connected to retail where we can have a community and I can be a part of that and I think that would be the best outcome for example if you look in Tesla Howard I don't know if you spend time in the Tesla community and Twitter they're the smartest people yeah and you know you look at the battery guys the physicists the material science people they work in the community you get to ground truth on Tesla I got to ground truth on Tesla in 2016 from those folks me too me too and I think but I think with Tessa if my big mistake on Tesla is not buying the car you know my big win in apple over the years was just owning the iPod and going into the store early and um just by being in the store I won you know because I knew something that nobody do by going to the health club and seeing the air buds I won I think the lesson of Tesla to me was why didn't I buy a car my partner Gary who's ridden the stock for forever just owned from the first Spider card to this car is just owned the car and that was my mistake so by the way I mean let's just State the obvious as you mentioned some of these names people go I'm going to short test so I go why don't you short the banks like I mean you may take a 20 risk but they're going to zero I had a tweet I put out their hahaha Tesla Q I love it I mean those dummies have lost so much money how many times do you have to get your face ripped off to realize you're just an idiot go short a bank yeah it's it's an obvious trade and they've been I mean they're the ones that are actually the most being buoyed so far because they're being helped the most they're the crippled you know crippled children the the thing about Teslas the other thing people don't understand about this imbalance is global so we wake up in the morning no one understands that with Drive wealth in alpaca and Apex that there's a thousand Robin hoods being born I tell people so when we wake up at night and Tesla is down that may be a discount to someone in Nigeria or or Eastern Asia or China who's using their app to buy fractional ownership of Tesla and the next morning you wake up it's limit up and you go what happened I'm going well the rest of the world bought the dip and and there's another thing there which is that it there is an insatiable demand whether we want to acknowledge or not in U.S dollars in U.S dollar denominated assets I mean let's go back to that example if you're sitting in you know Togo or Ghana where the t-bill rate is 15 you know what that's really telling you is your currency is worthless it's Zippo and so you know uh of course you'd rather own a share of Tesla and hard US Dollars yeah even if it drops 60 it's the brand you know it's you know you'll damage down let's talk about the shorts for a second know anybody that thinks that they can model the future in Excel is lying to themselves and their investors no you mean with Tesla in particular but you could probably say that no I think I think it's true with every company and somewhere decides that sell d37 in Excel means that you can be short this company Financial modeling has any any real there's no real basis in it I think Financial modeling is extremely valuable after you've built a logical model because the consumer demand is there and frankly it's just unmitigated you cannot stop it that is a runaway freight train and every time we use a financial model to try to get in front of consumer demand you lose right misunderstood Amazon misunderstood Google misunderstood Apple misunderstood Facebook and all of those things were Seated on top of massive consumer demand and I think this company is very similar to that ill I think Financial modeling is extremely valuable after you've built a logical model and in the case of innovation Innovation needs to be built on the heels of an understanding of product and technology and that's very hard to do unless you've done it before that's why when we start looking at businesses we start from that perspective and then use the model to reinforce a perspective but not to come to a perspective so does it bother you that I think at this point I would never want to drive an electric car because you've made the analogy to Apple and I think the iPhone is a wonderful product which I couldn't wait to have and can't imagine not having at this point I'm not sure that I personally feel the same way about Tesla my only point is that is their addressable Market much smaller than Apples I think that their Market is probably as big and if not bigger and the reason I say that is that they've shown an unbelie leaving ability to go down Market to create lower and lower price point products that can get Mass user adoption and specifically to you what I would tell you is I'm happy to ship my car to you and have you drive it for a month and honestly what I think you'll realize is you don't want to find those charging stations that have to figure it out and wait in line neither do I but that's why the software does it for you and then it'll drive you there automatically and plug the car in all right bill has a question we'll let you in Bill hi dude you know the Warren Buffett lately has been singing the Praises of Jeff Bezos he feels like he missed the boat on Amazon but he loves what Bezos has been able to accomplish with Amazon you know in retail and Cloud space do you equate that with Elon Musk and Tesla or whatever company he is running in other words if you're going to invest in his companies are you betting the jockey in this case or are you betting on the business model that he has created for the company that we call Tesla right now it's it's such a fantastic point in question at the end of the day when you are making deep methodical investments in technology companies it is fundamentally first and foremost about the jockey and that was the point I was trying to make earlier today which is that every time Wall Street has tried to bet against the jockey for example with Jeff Bezos they've been fundamentally wrong and the shorts got their faces ripped off it was also true with Facebook it was true for a period with apple it was true for a period with Google and I think it'll probably be the case with Tesla
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