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Elon Musk on Tesla Truck and Tesla Sales in 2019 Shareholders Meeting - YouTube
Channel: Ben Sullins
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Tesla just had their annual shareholder
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meeting for 2019 and I want to just to
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quickly talk about the top takeaways
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that I heard during the whole
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presentation let's go first let's talk
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about sales and demand if you recall
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there were lots of media outlets that
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were reporting the quarter-over-quarter
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numbers from q4 of 2018 to q1 of 2019 as
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a huge loss a huge drop for Tesla and if
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you did it that way that would be true
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it would drop dramatically but the real
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way that you're supposed to look at
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these numbers or that you typically look
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at these numbers is year over year so if
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you look at q1 of 2019 versus q1 of 2018
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Tesla was actually up a hundred and ten
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percent
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so despite this kind of objective
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success here that Tesla was the media
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kept reporting on this narrative of a
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huge drop and that led to investors kind
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of getting spooked thinking that
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customers no longer wanted these
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vehicles they call it customer demand as
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the term well Elon wanted to address
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that in this presentation and I think he
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did pretty directly so we get this
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question a lot and it's I wonder too
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clear there is not agent manage problem
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okay absolutely
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[Applause]
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the we were sales are have far exceeded
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production and production has been
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pretty good and a big point that he had
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in this presentation about this that
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surprised me was that 90% of the new
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orders are not from reservation holders
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that means that they're reaching an
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entirely new market of people that are
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coming into the Tesla family for the
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very first time these aren't people that
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have been sitting on a reservation for a
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couple years now this is just an
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entirely new group and the mix of the
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cars that those people are trading in
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was also surprising so the trade
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analysis shows that 63% of the vehicles
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that people are trading in for Tesla's
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are non premium vehicles this is a giant
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market size of tens of millions of
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customers there are 12 percent that were
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these mid sized premium sedans and 25
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percent works were these other premium
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sedans all told this just basically
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paints the picture that Tesla has a
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massive market potential based on the
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data that they're getting from people
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trading in their vehicles PS crudos
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tells us we're not using a pie chart
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there now if you look forward to the
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model why that has about a two and a
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half times bigger market than the model
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three now Elon actually addressed this
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as well and he said something kind of
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shocking and so we did we think to
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probably demand for the model Y will be
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greater than the s3 and X combined so
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yeah things are looking good from the
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customer demand standpoint Tesla is not
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even able to keep up with demand 90% of
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the orders are from non reservation
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holders it's a whole new group of people
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and they're upgrading from these regular
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kind of maybe a Honda Civic Toyota Camry
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that kind of thing to any of the tells
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us which are all considered premium
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vehicles so really it is just a dramatic
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shift away from the cheap economy I
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don't care just a to be kind of
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transportation to not luxury but a new
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expectation the new normal that Tesla is
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setting with their vehicles which i
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think is something that if you own one
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or you've ever been in one kind of just
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really hits you immediately from your
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first ride now the other thing that
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stood out to me was the talk of the
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Tesla truck this is kind of the hottest
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topic right now in the Tesla community
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everyone that I know that I meet I was
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just down in Mexico
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Mehta met a nice couple at the place we
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were staying first question when are
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they going to release the truck so lots
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of people I think are clamoring for the
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truck now the presentation didn't have a
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lot of new info Ilan did mention that
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they're hoping to do the unveiling late
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summer
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so in Elon terms fall to winter at best
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hopefully in 2019 I'm pretty confident
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it'll be 2019 I'll put my money on
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October seems to be a good month to
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unveil new new vehicles here so other
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than that there really wasn't much but
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on a recent podcast where ride the
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lightning Elon was on there with Ryan
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McCaffrey it's a great show I'll put a
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link to it you should go check it out he
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did talk a little bit about the truck we
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don't want it to be really expensive I
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think it's got a stock at less than
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$50,000 but it's gonna be like forty
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nine thousand dollars style priced max
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you know as ideally less important I
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just made a lot of people really happy
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who are interested in the truck by
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saying that yeah yes it's just it just
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can't be unaffordable you know it's just
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got to be it's got to be something
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that's that's affordable so now the
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reversions the car that are more
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expensive but I'll track that are more
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expensive but the the you've gotta be
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able to get eight a really great truck
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for forty nine thousand dollars or less
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and and you know it's it's just gonna
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have incredible functionality from a
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load-carrying standpoint look look
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amazing but it it won't look like a
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normal truck so it's it's gonna look
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pretty sci-fi that means it's not going
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to be for everyone like if somebody just
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wants to have a truck that just looks
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like trucks have looked for in the last
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20 years then 30 years or 40 years then
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this probably isn't for them yeah but
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this this is it's gonna be a truck that
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is more capable than other trucks like
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it'll be a better truck than then then
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you know say an equivalent like you know
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the goal is like be a beer better truck
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than an f-150 in terms of truck like
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functionality and be a better sports car
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the standard nav 11
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that's the aspiration and if you are to
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believe the tweets that we had
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previously here are the specs and kind
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of what we know about the truck just to
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refresh your memory
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the Tesla truck will have a range of
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between 4 to 500 miles it will have a
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towing capacity of 300 thousand pounds
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which may sound crazy but if you recall
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the Model X towed a jumbo jet so
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something that is actually made to tow
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vehicles would you know this could very
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well be true it will be a design that is
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new and not like anything else out there
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so they're not going to just copy what
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the other folks have done they're going
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to come with a totally fresh design all
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we have so far is this little outline
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here it's the front of the truck and
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other than that just basically people
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have been going crazy speculating what
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this thing will look like from the
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previous tweets we also know that this
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will be a 6 heater dual motor
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all-wheel-drive which makes a whole lot
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of sense it will have 250 volt
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connections in the bed for heavy-duty
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tools and it will also have an air
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compressor now the earliest I think they
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could realistically deliver this would
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be 2021 I don't think that they have
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capacity at Fremont to add this they're
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also right in the middle of getting the
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model Y which they're already taking
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reservations for us the model Y in terms
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of production right now has to be the
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priority so this will likely be at a new
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facility either at gigafactory 1 or
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maybe they can take over an older plant
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whatever so realistically in my book I
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think 2021 spring summer is when you'll
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start to see these actually hit the
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streets but you know I'm happy to be
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wrong on there now the last thing I
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really wanted to talk about but I didn't
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hear anything about was the Tesla
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Roadster
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Elon did talk about it on the ride
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lighting podcast and the point he made
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was you know that it's it's not really
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designed as a critical piece of the
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company's success right the mission is
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to transition people to sustainable
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energy the Roadster is more of a left
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hook to the gas cars you know the
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performance the supercars out there
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trying to show that electric cars can do
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it so they don't need that to succeed in
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order for the company succeed so chances
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are that you know we won't hear much
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about that until it's really time for it
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to to get released now hopefully that
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will be in 2020 I'm really hoping that
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we'll start to see more info
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maybe we'll have some more test drives
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and all that but these cars do tend to
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show up at these events so I think we'll
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just see these little leaks and stuff
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until you know we know more about that I
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was really hoping for something there
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but you know what it's all good I
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understand the focus is really on these
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other bigger things because that is
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what's going to drive us forward here so
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that's it for this just a quick little
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recap let me know what your thoughts if
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I missed anything happy to comment on it
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I'll kind of jump down there for the
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next hour so I chat with you guys and
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other than that thanks for watching
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don't forget when you feed their data
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your mind will follow let's see you guys
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back in the next time thanks for
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watching the video do you like data
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maybe you want to make a career out of
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it check out my free course at FTD
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Academy comm and kickstart your data
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professional career today
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