First of all, seeing this topic, many golfers will say, are you hacking our Musk again? It’s not really this time. After reading the record of Tesla’s shareholders meeting, compared to Yilong’s unrestrained style this time, it’s very pragmatic and can be called a scumbag’s confession.
As far as the specific content is concerned, at this shareholders meeting in 2022, the “1-for-3” stock split plan was passed. This is the second stock split in two years, and the first is “1-for-5”. Each shareholder of record on August 17, 2022 will receive a dividend of two additional shares of common stock per share then held, which will be distributed after the close of trading on August 24, 2022. Trading will begin on August 25, 2022 on a stock split adjusted basis.
Afterwards, Yilong answered a lot of questions that shareholders were concerned about. Although he also poured a lot of chicken soup and played a lot of memes, if you are familiar with his previous style, you will know why I call it “a scumbag’s confession game” .
The answer is divided into several levels. The first level is the strategic level of Tesla, which is also the most concerned issue for most shareholders. Yilong sent a simple and clear signal to the outside world that Tesla is committed to becoming the most valuable company on the planet. Everything Tesla has done, including FSD, Solar, Robotaxi, Tesla Bot Optimus, is also working towards this goal.
At the tactical level, Yilong answered several questions:
First, it is about production. To reach its goal of producing 20 million cars a year, Tesla would need about a dozen factories. Tesla may eventually build 10-12 Giga factories, each with a production capacity of 1.5-2 million vehicles per year, and will announce the location of another Giga factory later this year. Yilong would be surprised if Tesla doesn’t produce 100 million cars (cumulatively) in the next 10 years. This has drawn an ultimate pie for the market, and of course it is not impossible. This year’s competition for production of new energy vehicles is like the competition for Jieting during the Wuhou Northern Expedition. As a shareholder of BYD, I am also quite satisfied with the production answer sheet that BYD handed over in July.
Second, it is about profit. Yilong said Tesla has the highest operating margins of any mass-facing automaker in the entire auto industry, and that Tesla is not just a car company. In terms of profits, Tesla has indeed done better in terms of profits than BYD, and it is basically unparalleled in the entire industry. This is the repressive force from the top of the food chain. This is also a key point that Di Wang needs to work on in the next step.
Third, it is about product issues. Testers of the FSD Beta have now driven about 42 million miles, up from 36 million miles about 2 weeks ago, and are confident that FSD will be fully rolled out within the year. The ultimate goal of FSD is a set of universal autonomous driving solutions, which will not be limited to a few cities, but can be used on roads all over the world. By the end of this year, 4680 battery capacity will be high, the battery will not affect Tesla vehicle production, and there will be enough suppliers to supply the batteries needed to produce 1.5 million vehicles this year. The Cybertruck has changed a lot since its release in 2019, the specs and pricing will vary, inflation and various issues can’t be expected now, and production of the Cybertruck will begin in mid-2023.
Fourth, it is about layout. Yilong thinks there will be a friendly rivalry between Giga Texas, Fremont and Giga Berlin, and Shanghai will be too hard to beat. Of course, the Shanghai factory is very important to it, but on the other hand, Yilong has always been friendly to China in words, and this is where Yilong is smart. First, China is a big consumer market, and second, China is contained by Yilong. A card of U.S. regulation and U.S. institutions, one dragon should not play too much in this regard. Including claiming to acquire Twitter and later regretting it, what did Yilong say? He said he prefers a comprehensive social media platform like Wechat. The implication is, what kind of bulls and horses are you tweeting, and you want such a high price, you look at other people’s Wechat, and then look at you.
Fifth, it is about the robot problem. Yilong believes that robots will be a concept that will change the economy. Recently, the concept of robots in A-shares is also very hot. Is there any mid-to-long-term logic in the concept of A shares? I don’t think so.
Sixth, show your muscles. Yilong said: “Tesla now has strong free cash flow generation. This is before our autonomous driving is open. I will also say, wow, is it really that crazy?” Interest rate shrinking, but also speculation about recession, right? Take a look at our cash flow, don’t panic. In this bear market winter, Tesla is a warm water town. That’s pretty much what it means.
Seventh, the issue of share repurchase. Yilong said that it will still consider stock repurchase in the future. This is the beginning of pua shareholders again. Don’t panic. If the stock price falls, we will buy it back. Of course, this may also be true, after all, Yilong is also a master of T. In addition to cutting meat on BTC, he basically cut others. The last time Yilong sold its shares at $954, Tesla’s stock price was $864 after today’s close, which is close to the last sell-off price. This time, let’s see if a small expert in T can do T.
That’s all for the basic content. Compared with Yilong’s unrestrained style before, this shareholders’ meeting also created some stalks, but the overall signal is more pragmatic. Although I often blackmail Yilong, I still recognize his objective strength. In fact, as a scumbag, he can’t blame himself for many things. The American social system and public opinion atmosphere are too accustomed to him. If nothing else, he has manipulated the market many times. Does the SEC really do anything? In this social system and the atmosphere of public opinion, it is not surprising for him to do so. One more point, you may not have paid much attention to it. In the past two months, the American society has paid a higher level of attention to new energy. From this month, the largest $369 billion energy security and climate spending bill in U.S. history, to the high emphasis on photovoltaics, including the public opinion environment I recently felt on Twitter and Instagram. Compared with the huge differences in the social cognition of new energy and photovoltaics in China, I feel some sense of crisis . I am a shareholder of BYD, and I have been interested in Yilong for several years, so I studied the draft of Tesla’s shareholders meeting on the weekend and communicated with you.
Let’s talk about the non-agricultural data of the United States in July. In fact, yesterday, Xueqiu also posted it in the circle of friends. The non-agricultural data brings only very short-term bad news to US stocks and crypto, because it provides a signal to the market that economic recession basically does not exist at this stage, and of course it also increases the probability of raising interest rates by 75bp in September. Whether the impact of raising interest rates by 50bp or 75bp in September and the impact of the expected economic recession is clear at a glance. Moreover, the main reference data for the rhythm of interest rate hikes is the cpi released a few days later. If the cpi is effectively reduced, it means that the optimal combination of inflation control + economic recession has been achieved, which will continue this round of rebound. Happy weekend. Judging from the market performance, it has also proved that my prediction is correct. After the non-agricultural data came out, U.S. stocks opened lower, then turned red for a period of time, and then stepped back again. At the close, the Dow Jones index rose 0.23%, the Nasdaq index fell 0.5%, and the S&P 5000 fell 0.16%. Stepping back is very healthy. Combining the performance of BTC and ETH after the market, this judgment is further confirmed. This weekend is a big trading day for crypto, enjoy yourself. #CreatorStar Plan # #United States July non-agricultural data exceeded expectations# #BYD July new energy vehicle sales of 162,000 # $Tesla (BK0451)$ $Nasdaq Composite Index (.IXIC)$ $ BYD (SZ002594)$ @Logic Research Institute @胡子意Zoey @Today’s topic @snowball creator center @snowball fund @江湖 Swordsman 123
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