Musk: Joining forces with SpaceX, Tesla's new sports car can fly! Debut as soon as next year!

On the 29th, Musk connected to the live broadcast event of Tesla's Silicon Valley Owners Club (X Takeover) and was interviewed on the spot.

In the interview, Musk introduced several products that investors are most concerned about, the full popularity of FSD, the latest progress of SpaceX, and the humanoid robot Optimus. He revealed that the new Roadster was jointly developed by Tesla and SpaceX and is expected to be unveiled next year.

Among them, regarding full self-driving (FSD), Musk said that the latest FSD version 12.5 has significantly increased the number of parameters, making the system more accurate and efficient when processing real-world data.

Musk said that the SpaceX team is constantly improving the design and performance of Starship, with the goal of achieving greater reliability and safety in future missions.

The main points of the full text are summarized as follows:

1. The new Roadster is jointly developed by Tesla and SpaceX and is expected to be unveiled next year.

2. It is expected that the cost of Starlink terminals will be further reduced, making it possible for more people around the world to access the Internet.

3. Tesla will continue to introduce new hardware, such as Hardware 5, to further improve the performance of the self-driving system. FSD 12.5 will be released in August.

4. The cost of humanoid robots is expected to be reduced to similar levels as cars, and Tesla plans to launch a new generation of Optimus later this year and gradually bring it to market.

5. Robotaxi will have a huge impact on the world. But Musk declined to disclose the timing of the release.

6. Retail investors have played an important role in promoting Tesla's development.

7. Musk prefers Dogecoin out of his love for dogs and memes, but he insists he won't promote any cryptocurrency.

Starship 5: Recovery and insulation are key

X Takeover：

Let's get straight to the point. Can you tell us a little bit about Eddie? We knew that in the next week or two, Starship 5 was about to begin. What do you care about most? What does success look like for you?

Elon Musk：

From the point of view of when the space station is ready, it will probably take 2 to 3 weeks, but it depends on when we get the FA license. So I'm guessing it could be the end of August at the earliest, or the beginning of September, depending on how quickly the FA grants the license.

X Takeover：

What does success look like for you? I know someone who uses chopsticks to measure it. Is this still the goal? Is this what SpaceX's next Starship 5 launch will look like?

Elon Musk：

Well, we want to catch Mecca, aka the booster in the giant Mecca siren, it sounds a little crazy. Because this is the largest planned object ever built. So, it's pretty crazy to grab it with a giant robotic arm and take it off the sky. But I think it has a fair chance of success. It may take a few kicks of the jar before it really works. But we didn't violate physics. So success is one of the possible outcomes here.

We do want to try recycling boosters. On our last flight, we were able to achieve a soft landing in the ocean or C-class. in the water. yes, that's cool. So I think people have probably seen live video from landing to splashing. And then the other thing that we wanted to achieve was obviously a stronger heat shield.

Last time our ship did reach the Pacific Ocean, or sort of like the border between the India Ocean and the Pacific Ocean. It did work like the engine, and actually shifted gears for a soft landing as well, but we lost a lot of heat shield tiles. So the ship really made a soft landing, and it splashed all the way due to the loss of tiles. It's amazing. It didn't get to the exact right place in April. So because of the reduction in control, I think it's about 6 miles from the landing site. We want the heat shield to be intact and have complete control. Not just land gently in the sea, but land in the right place.

Landing is the hardest part, as the ship has a heat shield and it is designed to survive entry, not vaporize. It landed intact. So we need to make sure that the ship's heat shield is very reliable and can navigate to a very precise landing position, because if it disintegrates in the SE, the debris can hit populated areas, damage property or people. We want to be sure that the ship's heat shield is very strong and that it is landing in the right place.

Before we try to get the craft back to the launch site, I think we have at least three successful landings. This time, the ship's components have been significantly upgraded. At least twice as good as last time, and in some cases, a lot better. And there is also an auxiliary heat shield behind the main heat shield. So, this could be a longer explanation than you'd like. That's what we want to achieve. I think we might have a 50 percent chance of grabbing a booster, and then maybe more than 50 percent, maybe 60 percent, 70 percent chance. The ship's heat shield remained intact during the upcoming flight, assuming no other problems.

Starlink is easy to install and use, and the cost can be reduced to a few hundred dollars

X Takeover：

One thing I'd like to say is that X's acquisition actually took place through Starlink. So all the work done by SpaceX is done through Starlink.

Elon Musk：

No, we will set up Starlink here as well.

X Takeover：

Starlink连接Starlink。

Elon Musk：

Yes, I'm also testing delaying funding. So I like to alternate between the main dragging antenna and the dragging funding antenna. To be clear, delaying multiple antennas is not as good as normal antennas because it has a smaller antenna. It does not have a larger antenna area than a normal antenna. So delaying funding is not exactly the same as the other, just smaller.

It's like you're giving up a little bit of antenna area, but it's very portable. It may weigh a quarter of a regular device, but it has half the bandwidth of a regular device. So it's good. It's kind of like, it doesn't use power. It has a fairly high waiting rate. You can carry it in your backpack and take it anywhere you want. I think it's perfect as a backup device for emergency services. So actually, a lot of post responders and emergency services personnel are considering having it because it's easy to install on a vehicle. In fact, I know someone put it on a Tesla, and that's pretty cool.

X Takeover：

They are parked in trucks here. Kudos to Teslatino and a few others.

Elon Musk：

Yes, Sonic is especially popular because it is very portable and easy to place. It's perfect for emergency services, or if there's a forest fire, flood, natural disaster that causes an outage in ground fiber optics and cell towers, then you can still use Starlink to access the internet.

X Takeover：

So Elon, what would you do, we're in a market for a Starlink community. Two thumbs up. Acclaim. What do you think of it?

Elon Musk：

It's good. You know, it's a new product, so we're just working on a few small issues here and there. But so far, so good. It looks good. I think it's going to be a bestseller. And it's cheaper to manufacture. So, I think, that means that the terminal cost could end up going down to a few hundred dollars or so, which makes it accessible to people. In many parts of the world, more expensive terminals are unaffordable. So this should be affordable for most people in the world.

X Takeover：

Well, I can't wait to go to the selfish area of South Padre Island and report live with Starlink Mini. It's incredible how accessible Starlink is. You can go anywhere in the world, in some of the most remote places, and the knowledge gap is no longer an issue. Even using the Starlink Mini to make it more accessible is insane.

Soon, back to Starship 5. Starship 4 took place. I saw it, I was broadcasting live at Islablanca Park. Then, even visited the Starfactory, what you guys did at Starbase was incredible, you iterated and changed on the fly so fast, every day went by, it felt like a century somewhere else because you had changed so much. In addition to the heat shield, what other significant discoveries did you make in the Starship launch that you implemented and prepared for the upcoming launch?

Elon Musk：

There will be changes between each flight. There are hundreds of changes on both the ship and the booster. Many of these changes are small, but cumulatively, they are significant changes for us. So you're the second. So if you add up the changes in the ship, boosters, and launch sites, there are actually thousands of changes between each flight.

So you're having SpaceX's talented team working on Stage 0, which is the launch site and Stage 0, and that's as important as Stage 1 or Stage 2? I think the first stage is the booster, the second is the spacecraft. So the mass will be very large, and a lot of things will be. If I get into the details, people will say, I don't know what you're talking about. Most people just need to install a small valve here, change a line here, and make a series of adjustments to the software. So, there's a whole bunch of things about that that aren't as easy to describe as upgrading a heat shield.

In a few flights from now, there will be a more significant change. I think it's the 7th ship, we move the front to the rear. This story annoys me because we initially made a mistake when designing the ship, which was to make the front symmetrical with the rear, and the front was 180 degrees. You really want the front to be on the leeward side of the wind. Maybe if you don't know, it doesn't make sense.

The steering gear itself is like a skydiver, and the forefoot is like a hand, arm, and leg. So it's very different from an airplane. And then forward, you really don't want to be visible air currents forward. Because you're really desperately trying not to get the engine to run the side. Rotate forward and enter the hot plasma. So, I think with seventh gear, there are four that get smaller. They're kind of spinning back. They change positions. Not 180 degrees, but 150 degrees. So, these four are really just using pruning.

So basically, in short, they became smaller, lighter, and the payload was improved. Then you can continue. Improving the heat shield, the critical performance of the engine will be better, so that we can run the engine at higher thrust and be more reliable. And then the real big change could be around next year, us. Remove the bottom heat shield and the ship. Heat shield. Heat shield on the engine side. So the engine doesn't need to be packaged in the next major modification, which is quite tricky. But this removes a lot of mass from the bottom of the aircraft and the bottom of the ship. However, with the ship installed in the booster, both will become lighter and the engines will be stronger.

Now, that's a lot of the technical details of starships. The payload will also easily exceed 100 tons, going into useful orbits. It's 100 times more useful and it's completely reusable. The return of the boosters in the spacecraft to the launch site means that the cost per ton of orbit is about 100 times less than in the past. That's what makes life beyond the earth. Egypt built a self-sufficient city on Mars, which will maximize the life of consciousness, I think for thousands of years.

X Takeover：

But Elon, there's one incredible thing about you, and that's how much you know the details. I don't think I've ever seen a leader in any company go so deep into the details, and it's amazing that you can be high up and down and you can be low. But one of the things I've noticed about you is that you're highly involved in everything you do, and you're able to get into the details both from a bird's-eye view and into the details.

Elon Musk：

Well, I mean, I'm in charge of the engineering design of the company. So it's relatively unusual. I think a big reason for the company's success is that I understand engineering. I know that when someone, I like my judgment to judge whether someone is good at engineering or design. So, in terms of really having the most talented people and giving them the most responsibility. If you really don't understand engineering, then how do you know if someone is a good engineer? So that's really important. We are a very talented team, but in order to know if someone is talented or not, you also have to understand engineering.

Optimus is an intelligent robot with arms and legs

X Takeover：

Elon, we're going to change the subject and talk about Tesla.

X Takeover：

Now, X acquisitions, but we're now doing Tesla acquisitions all over the world.

Elon Musk：

Cool. By the way, thank you all, I just want to say thank you very much for your support. Thank you so much. Thank you.

X Takeover：

I just bought a Tesla in 2018 and started driving it, and I can't believe how much fun it can be. There is also fake news, especially in the Bay Area. So, yes.

Elon Musk：

You know, it's always been that way.

X Takeover：

Join this community and create these epic events. Yes, Elon. Obviously there are a lot of Tesla fans here, and SpaceX, but as far as Tesla is concerned, can you give us an update on any future models? Obviously, robo-taxis. Next, I can't quite do a product launch.

X Takeover：

At the time of X takeover. Just kidding.

Elon Musk：

I mean, I think a lot of what we said on earnings calls or receptions, I've tried. I voiced my thoughts on the earnings call. But the most important thing is to achieve unsupervised, fully autonomous driving. This is really profound, and hopefully a lot of you will get a chance to use 12.5 or at least 12.3.6. Tesla's AI team, with hundreds of people. It's not a huge team. There are only a few hundred super-talented engineers.

I would like to emphasize this. That's obviously a lot more than I am, and it's hard to recognize 200 people. But I want to emphasize that there are actually more than 200 people responsible for the software aspect of full self-driving. And then we have a great chip design team, because you need chips to design, chips to run on something. Tesla AI chips. Hardware 3 and Hardware 4, followed by the upcoming Hardware 5, could go into mass production in 2026.

It's a great chip team. And then we also have a great training cluster team. Running a large video training cluster is actually quite difficult, and it takes a lot of skill and a lot of work. The team worked 24/7 to build the southern extension of the Gigafactory in Austin. I just spoke to the team last night and the main progress of installing the server is good. But it's not as simple as buying a graphics card, plugging it in, and they'll start training.

This is not the case. It's actually very difficult. If you have a large Nvidia training run or any kind of large training run, the power fluctuations are unlike anything you've seen anywhere else because the GPUs are all running with extreme precision. It's like a symphony, and this actually leads to difficulties on the electrical side, like an electrical nightmare, because when the GPU goes up, the power goes up, and when the GPU goes down, the power goes down. This can happen at intervals of 100 milliseconds. This is actually quite a difficult thing to do.

X Takeover：

It's almost a show.

Elon Musk：

It's a bit like a light show. To get these dramatic changes in power consumption, when you have 50 megawatts, it can go from 15 megawatts to 20 megawatts, 100 milliseconds, which is very unusual. So that's actually quite a challenge. Kudos to the Tesla team as you build and operate the training center. This requires a lot of puzzles to complete. We have a lot of data and feed it into the training system.

The end result is, it's really starting to get quite noticeable. I think there is 12.5. As I mentioned publicly, we increased the number of parameters by a factor of 5. You can't simply increase parameters unless they are useful and done the right way. This actually has to make the parameters correct, each parameter is a number, but the number has to be correct. Artificial intelligence is trying to compress reality effectively. We're shooting all these videos, trying to understand reality, compressing it down to a few gigabytes. I also think it will expand steadily. I'll probably get to 20 gigabytes soon, but we're trying to compress reality into a few gigabytes. It's hard. The inference computers in our cars are much weaker than the server-centric GPUs. It only has about 15 to 20 percent power.

So, if your inference machine is relatively weak, then you have to put more effort into training in order to make up for the lack of an inference machine. But it's working. I think it's really working.

X Takeover：

Speaking of light shows, Elon, I just want to thank you for retweeting and sharing our X Takeover's light show. Thank you so much. Of course. So I want to talk about battery technology. What advancements are you most excited about when it comes to battery technology? How will they affect Tesla's range of inefficiencies?

Elon Musk：

I think it's important to note that even without a breakthrough in terms of batteries, I think you can electrify all road transport. All road and transport vessels can be electrified, even without any improvement in battery technology. This may be an important point to note. Now battery technology will improve, but even if you don't, you can electrify all the ground and water transport of the aircraft. You do need to improve in terms of energy density, graph metrics, and volume metrics, energy density.

Ideally, you want an energy density of around 450 or 500 per kilogram. In some cases, this is achievable, and that's all. You know which people sell expensive and they are in that area. But in reality, much of the R&D effort is aimed at improving the cost per kilowatt-hour per hour. How companies can improve the cost of range. Improve the cost of battery packs to make cars more affordable. People are starting to expect a range of around 300 miles, which I think is a bit normal. Probably about 300 miles. If you assume you're not climbing in cold weather, the range decreases as you increase the load. If you go down the hill, the range increases.

So, I think a normal EPA range of more than 300 miles is a normal standard. Then it's just a matter of figuring out how to make enough battery packs, and then scaling up.

I think we're making good progress with Tesla design sales, which is a design-maker sale, and that's a hard problem. their entire company. That's all they do. But the pace of progress is good. There are no major breakthroughs. How many gigawatt hours will need to be sold each year to truly transition the world to a sustainable energy economy, and a lot of work to be done? In fact, hundreds of gigawatt hours need to be sold each year, eventually exceeding thousands of gigawatt hours, many of which will be used for fixed storage. Therefore, wind power is paired with stationary battery packs and solar stationary battery packs.

Improving the efficiency and stability of the grid through stationary battery packs in general is actually a big deal. So, overall, I feel like things are going well.

X Takeover：

When you think about a lot of people I've met over the years who have been paying attention to this, I'm kind of a late adopter of it, but it's happened, it's crazy, even from 2018, you know, from bankruptcy to the company going fully autonomous with 5,000 Model 3s, it's crazy.

One thing, I've always known, is that I'm ultimately driving robots. But I never thought about it, and I thought maybe my thinking was limited to that. If we really were going to make humanoid robots at Tesla. You know, Tesla is an AI products company, how does that compare to being in a factory? You commented on what is happening in the world. So, what is the situation.

Elon Musk：

Robot.

X Takeover：

Yes, then how does a robotic humanoid robot impact the valuation view as well as the company's vision.

Elon Musk：

I mean, you can think of Tesla cars as robots that are essentially four wheels. It's really profound, and I would suggest just showing people what autopilot is capable of, to friends and family and so on. Because if you look at a model through a model, I mean, it's a good-looking car, but it doesn't look like superintelligence.

It looks like a nice electric car, but it doesn't look like, let's say you have a cat. Looks like a normal cat. But in reality your cat can talk, jump, dance with a hat and cane, and perform musicals. Let's say you have a cat with sentient abilities that speaks, sings, and dances. But when people see a cat on the couch, it looks like a normal cat, until it jumps up and sings and dances, and people say, wow, what is that? That's what makes self-driving cars special.

The Model 3 looks beautiful and looks normal. It's just that our car basically sings and dances, and it's smart enough to drive from one place to another. So just show that to those who blow their minds. I recommend doing this because that's really critical.

And then for the Optimus robot, it's really an extension of what we've learned from cars. The car is an intelligent robot with four wheels. Optimus is an intelligent robot with arms and legs. In the case of Optimus, we had to start from scratch with every part of the robot. All motors, gears, electronics, and sensors had to be designed from the ground up. And we also had to learn how to operate all those motors and sensors. You can really learn a lot about how the human body works, and you'll realize that we evolved for a reason.

Do you know why the muscles that manipulate your hand are actually located in your forearm? If you look at your hand, it's kind of like a puppet. The puppet's thread is in your forearm. There are actually a small number of muscles in the hand, but most of the muscles that operate your hand are the muscles of the forearm.

In the current version of Optimus, our actuator is actually in the hand. However, for the new version that we're going to launch later this year, the actuator is located in the forearm and really simulates how a human hand works. When I say actuator, the actuator consists of a motor plus a gearbox plus power electronics and sensors. In fact, there are no actuators that you can buy for any amount of money, and these actuators all work well for human robots.

So we actually go back to the first principles of physics and design all the actuators from scratch. It's a lot of work, and I think it's going to be very difficult. Designing actuators to make effective human robots is not an easy task for any company that doesn't have actuators. Then, it will have the same brain as a car. Initially Hardware 4, then Hardware 5, in 2026. And then like cars, cars are learning how to navigate reality.

This is the same basic process for humans. I think basically everyone wants one. Who doesn't want it? Let's say, let's say R2D2 and C3PO are realistic and you can have them, who wouldn't want R2D2 or C3PO? That would be great. I like a friendly buddy robot. Now we need to make sure they stay friendly. This is very important.

yes, but I think it's kind of like people are very attached to their team, right? Just like people, you know, you're going to have a dependency on R2D2 and C3PO. I think everyone will want one. I think in the long run, a humanoid robot should cost less than a car because it weighs less. There are fewer parts inside.

So at the end of the day, I think, a super-useful humanoid robot could cost $20,000 or $25,000 in the long run. What will be the value of a dollar in the future, I don't know. But this year, I can expect the price of a humanoid robot to be between $20,000 and $25,000. That's really useful, it helps you take care of the kids, walk the dog, go grocery shopping, whatever it is, as long as it works. So I think everybody will want one. There are 8 billion people on the planet, and I think they all want one. So I think it's probably going to be the biggest thing ever.

X Takeover：

Elon, what are you going to do with your robot?

Elon Musk：

I mean, in the beginning, we were in the first year of production design at Optimus, and next year we were doing some basic stuff in a Tesla factory. Because we want to solve a lot of details. This is just to make sure it works. In the first year or so, the engineering department needs quite a bit of care. And then hopefully, by 2026, we can sell it to people out there. Because we're confident that it will run fairly well and respond to things like voice commands. Then you can customize the look of the bot to some extent. You can put some kind of shell on the robot, so I think there's going to be all sorts of variations, and the other robots will look like you know.

Maybe some third party can do some cool things, like, the Cybertruck's third-party packaging is cool, and I think there's some really creative art. So the soundtrack, like most of its cars, is a bit like bare stainless steel. I ended up with some of the most interesting art, in terms of the way it's packaged and some aspects. Yes, it's really unique. Actually, for L, he is also very creative, and he has some ideas, such as making an L version of Optimus Prime. For example, we should have different artists come up with different versions of Optimus Prime.

X Takeover：

Speaking of Cybertrucks, I've had a Cybertruck since mid-February. Moreover, I am used to FSD.

Elon Musk：

Oh, you really want to, but I couldn't agree more.

X Takeover：

I don't know if I'll get special treatment, but either way, or more importantly, for everyone. I'll just say I've driven 10,000 miles and driving the most advanced technology has drained me and I feel like I'm driving. It's still the most amazing feature test ever. But is there any update on Cybertruck's FSD?

Elon Musk：

Hmm, I think it should be released in August. 12.5 is a two-week wait.

X Takeover：

How many weeks?

Elon Musk：

Yes, it will be released at some point. For the next 2 to 4 weeks or so. It should work. I'll keep track. I'm not sure exactly when because we just need to test it and make sure it works well. But 12.5 is where a lot of stuff comes together, where you have a higher version. We upgrade the highway stack to the latest version. So, this is one, you don't have the old highway stack in a new city. Having an integrated, state-of-the-art highway and urban stack is a big deal. Just like any little thing, you can wear sunglasses. And still drive with your hands, and then let it work on a cyber truck. A friend of mine drove a cybertruck that only crossed half the country, and he said it made him too good. He could not turn on the FSD.

X Takeover：

I think we did have people coming in their cyber trucks from Florida, Toronto. Well, not for, but from all over the United States, I think that's actually what they're doing like filling a farmer's identity, even though it's the best Tesla has made so far.

RoboTaxi将会令人大开眼界

X Takeover：

Yes, it's a great product. So, yes, it's coming soon. Elon, what are some of the future automotive projects you're most looking forward to? Is it the Roadster? Is it RoboTaxi? Can you talk about what you're most looking forward to?

Elon Musk：

Well, I think that in terms of having the greatest impact on the world, it will be Robotaxi. Of course, now all types of vehicles can operate it, or be able to operate it like a Robotaxi. Yes, however, I think the dedicated Robotaxi will have the biggest impact on the world. I think semi-trucks are going to have a very big impact. The Roadster is the kind of thing that isn't necessary from a practical point of view, but it's pretty cool.

My friend Peter · Thiel once said, why don't we own flying cars? I said, wait, it's coming soon. So I think that's going to be pretty cool. Will it change the world? I do not know. But I think sometimes it's great to go and do something cool because it's great to have something great or something in the world. So it's like the icing on the cake. I think the Roadster demo would be an eye-opener. Probably the most eye-opening presentation ever.

X Takeover：

When does it happen? I don't know if you can share it, but if you have to pass this on, that's great.

Elon Musk：

Think about sometime next year. It was a joint effort of Tesla and SpaceX. So it's kind of like combining rocket engineering with Tesla electric vehicle engineering.

X Takeover：

Manufacture of alien technology.

Elon Musk：

Something very special.

X Takeover：

I've heard that it can fly a little. Yes.

Elon Musk：

Yes, it will be special. We will continue to make new products that we have never talked about before. There will be new things coming out, but what really matters is fully autonomous driving. Unmanned driving is unsupervised. It's like a huge change. Then there's Optimus Prime, a useful humanoid robot with autonomy. Is it bigger than fully autonomous driving? But if you look back in history and fast forward 20, 30 or even 50 years, you see that these two things are profound. Unsupervised, fully autonomous driving solutions, and truly useful humanoid robots. Even 50 or 100 years from now, they will be considered a big deal.

X Takeover：

Elon, you have a date on your calendar for the announcement and launch of the cyber robo-taxi. What can we expect?

Elon Musk：

Well, I can't reveal. You know, you don't want to take the show away before it starts. So I think it's going to be a trailer. I think it's going to be cool and people are going to be really excited. How many people will realize how profound it is in actual activity? What will we show? Some will understand its profundity, but not everyone will, but it will be obvious in hindsight.

X Takeover：

Okay, yes, guys, thank you Elon for your time. One thing I want to ask you is that we obviously have the latest model, the Model 3 Performance, or the Model 3 Thailand is already on the market. The Cybertruck came out. When you think about the future of transportation, obviously, France is involved in the design. But when you think of unsupervised FSD, how does it change the way you approach or structure the future of transportation? Again, I know I don't have to take the design aspect into account, but when you think about the next step, how does the future of transportation affect it?

Elon Musk：

If you don't drive, you're actually like sitting in a tiny lounge. You can watch movies, play video games, work, or you can sleep, whatever you want to do. You can also drink because you're not driving, right? So it's like a small mobile lounge. You don't have to focus on driving all the time, but you have to stay focused at all times. So it's completely different.

I think the future will also be interesting for Optimus Prime, for those who have lost limbs. If you use neural links, you can basically control the electronics. If someone loses an arm or leg, or something else, connect and enable, combine it with a neural link that will give them limbs that are essentially cybernetic. This can be quite incredible. I think that's going to be cool. A joint effort by Neural Link and Tesla.

X Takeover：

Elon, there's been some news on X lately about candy announcements and stuff like that. No, I just, I don't know what that is. I just drove to buy candy. So, yes, I had too much candy on my flight.

Elon Musk：

What's happening in the world is crazy. Something is happening with SpaceX and Tesla, artificial intelligence is also advancing, and there are a lot of advancements in the pharmaceutical industry. There are a lot of interesting miracle drugs coming out. We are sure that we will definitely move towards the most interesting future. I think we live in the most interesting times. Sometimes it's easy, like getting frustrated about some everyday event or political thing. But from a macro perspective, we live in the most interesting times in history. It's cool.

Elon Musk: Confidence in the long-term value of the company

X Takeover：

But the question I want to ask is, when you think about retail investors and what they mean to Tesla, what do you think about, especially all the work that the community does, Alexandra, the Ames of the world, the Tesla community. But what comes to mind when you think of retail investors in Tesla?

Elon Musk：

Well, I have to say, I love retail investors. Because they decided to support the company, which is very much appreciated. We have the highest percentage of retail investors of any company, or certainly the highest. I think that's really a good thing. Stock prices fluctuate up and down due to random reasons. But I do have confidence that the long-term value of the company will be very high.

The best analysis I've seen is Arc Invest from Kathy Woods. They used to be the most accurate. The value of the company will be a bit like autonomous driving and Optimus.

What does money mean in the future? Because if you have robots, if the cost of goods and services is almost zero. Then we will be heading towards an era of abundance. Tesla may now be in a phase similar to what Nvidia was at before the video was released, where Nvidia's stock went wild. I think Nvidia is worth their current valuation. They and Jensen and his team have done an excellent job. This really shows the value of any type of AI, a company that is strong in AI, its value will be so staggering, it will dwarf the value of those companies that don't.

Advanced AI can really make a big difference. Product productivity, the simple calculation of a car, is that a typical passenger car is used for about 10 hours per week. This is known as one and a half hours a day for seven days. So it's about 10 hours. But if it's autonomous, it can be used for 100 hours a week. I'm not sure what the average usage should be, but the average usage might be 50 hours in autopilot mode, but it can certainly be used for 100 hours or 168 hours per week. As a result, the productivity of the car will increase by a factor of 10, but at the same cost. If you do basic calculations on this, you'll see that now your profit margin has gone from 20-25% to 90%. This is crazy.

For customer-owned C-segment cars, we obviously share the revenue with the customer. Therefore, I think that the owner will earn a lot more than when the cost or financing cost of the car in autonomous driving mode is the lowest. If you only think about asset efficiency, you'll see an increase from 10 hours of car use per week to 50 or 100 hours per week. And it's the same car. This could be the biggest explosion of value ever.

X Takeover：

I actually have a question, it's kind of a follow-up on what you mentioned, a bit off topic, but do you see it, do you foresee the rise of the mechanics to determine the authenticity of the content and the validity of what is being said. I think that's the future, right? I see half the time I feel like I'm opening YouTube and they're taking some of the bitcoins that you mentioned randomly in an interview, or I've seen our interviews like people message us in May 2022 and they're going live, like it's live. It's like, wow, I had long hair two years ago and it doesn't look the same. But it's you're talking, you're saying randomly, the price of Bitcoin, you know, the real price is falling. So what do you think about this?

Elon Musk：

I really wouldn't promote cryptocurrency. So if you see me promoting cryptocurrency, it's not me.

I think Bitcoin and some other cryptocurrencies have some advantages. I have a soft spot for Dogecoin. Because I love dogs and memes.

On the X platform, things get noticed by the community very quickly, or in the replies, people say, hey, that's not true. So I think we can try to get the community's concerns to come to the surface faster. In addition, if a similar video appears, community comments are attached to any type of similar video.

It certainly is. Will not be cautious. If you see that I see a cryptocurrency sale advertisement, I'll check it again. It's true.

X Takeover：

Elon, we want to ask you one last question, and that's what you're most excited about about Tesla and SpaceX.

Elon Musk：

The key for SpaceX is to achieve full and rapid reusability of Starship rockets. This is truly the holy grail of space technology. No one has ever made a fully reusable orbital rocket. So Starship is the first design capable of doing that.

This is definitely a far-reaching thing, because they are fully reusable, fast reusable rockets. This is the difference between humanity as a single-planet civilization and a multi-planetary civilization. So it's huge. I think we'll probably get there next year. So it's a big deal.

For Tesla, the general solution of autonomous driving is also a very profound thing. Unsupervised, fully autonomous driving. If it doesn't happen later this year, it's highly likely to happen next year. If you just plot dots on the mile curve between interventions, this number is improving significantly. So these are two huge changes. But because I think there's actually a market for humans or robots that's more than 10 billion units, more than the number of humans. Because everybody wants one, and then there will be other people involved in industry and other things.

So, if they do sell it for $20000, that's 200 trillion. So, that's a crazy number. So we should hold their shares. Let's just say good things.

Anyway, it's really crazy. $200 trillion. That's a bit of a crazy number. But that's the level of importance we're talking about here. So it should be held. Years. Thank you all for your support.

X Takeover：

We'd love to do a virtual slash in person if we could. Oh well, I think you're definitely going to get a standing ovation right now. This is crazy. When you're talking about that cat at the time of the X acquisition, Elon is really dancing. So, thank you again, Elon, Kevin, and I, on behalf of our organization, for being a part of the X acquisition, and for giving us about an hour or so of your time. Thank you to the community and retail investors for their support, and we thank you for all you do for humanity and for picking up a shovel to do this.

Elon Musk：

Well, that sounds good. Thank you.

X Takeover：

Good bye. Thanks, Elon. All right. The background presentation was supposed to be five minutes. Like when he called me back, he said for about five minutes, and then it went from 15 minutes to 30 minutes, and then we talked for the next hour. So thank you for coming to this event.

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