Elon Musk: Teaming up with SpaceX, Tesla's new sports car can fly! Set to debut as early as next year!

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

During the interview, Musk introduced several products that investors are most concerned about, including the comprehensive popularization of FSD, the latest developments of SpaceX, and the humanoid robot Optimus. He revealed that the new Roadster sports car is jointly developed by Tesla and SpaceX, and is expected to debut next year.

Regarding Full Self-Driving (FSD), Musk stated that the latest FSD version 12.5 significantly increased the number of parameters, making the system more precise and efficient in processing real-world data.

Musk mentioned that the SpaceX team is continuously improving the design and performance of the Starship, aiming to achieve higher reliability and safety in future flight missions.

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

1. The new Roadster sports car is jointly developed by Tesla and SpaceX, expected to debut next year.

2. The cost of Starlink terminals is expected to further decrease, enabling more people worldwide to access the internet.

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

4. The cost of humanoid robots is expected to decrease to a level similar to cars. Tesla plans to launch a new generation of Optimus later this year and gradually introduce it to the market.

5. Robotaxi will have a huge impact on the world. However, Musk refused to disclose the release date.

6. Retail investors play an important role in driving Tesla's development.

7. Due to his love for dogs and memes, Musk prefers Dogecoin, but he insists he will not promote any cryptocurrency.

Starship 5: Recovery and Thermal Insulation are Key

X Takeover:

Let's get straight to the point. Can you share with us the situation with Eddie? We know that the Starship 5 launch is coming up in the next week or two. What are you most concerned about? What does success look like for you?

Elon Musk:

From the perspective of when the space station is ready, it will probably take 2 to 3 weeks, but it depends on when we get the FAA license. So I guess the earliest could be the end of August, or it could be early September, depending on the speed of the FAA granting the license.

X Takeover:

What does success look like for you? I know some people use chopsticks to measure it. Is that still the goal? Is this what success looks like in the next Starship 5 launch for SpaceX?

Elon Musk:

Well, we want to catch the booster, which is the giant alarm clock in the sky, which sounds a bit crazy. Because it's the largest planned object in history. So, it's pretty crazy to catch it with a giant mechanical arm and take it down from the skyBut I think it has a fairly good chance of success. Before it really comes into play, it may need to kick a few cans. But we didn't violate physics. So success is one of the possible outcomes here.

We do want to try to recover the booster. In the last flight, we were able to achieve a soft landing in the ocean or on a barge. In the water. Yes, that's cool. So I think people may have already seen real-time videos from landing to splashdown. And then another thing we hope to achieve is obviously a more robust heat shield.

Last time our spacecraft did reach the Pacific, or somewhere like the border between the Indian Ocean and the Pacific. It did land softly like an engine, actually achieving a soft landing, but we lost a lot of heat shield tiles. So the ship did land softly, and due to the loss of tiles, it splashed all the way. It was really amazing. It didn't arrive at the exact correct location in April. So due to reduced control, I think it was about 6 miles from the landing site. We hope the heat shield is intact and we have full control. Not just gently landing in the sea, but landing in the right spot.

Landing is the most difficult part because the spacecraft has a heat shield designed to survive entry, not evaporate. It lands intact. So we need to ensure the reliability of the spacecraft's heat shield is very high and can navigate to a very precise landing location, because if it disintegrates in the southeast, debris could hit densely populated areas, damaging property or personnel. We want to make sure the spacecraft's heat shield is very strong and lands in the right place.

Before we try to bring the spacecraft back to the launch site, I think we need to have at least three successful landings of the spacecraft. The components of this spacecraft have been significantly upgraded. At least twice as good as last time, in some cases, even much better. And there is an auxiliary heat shield behind the main heat shield. So, this may be a longer explanation than you wanted. This is the goal we hope to achieve. I think we may have a 50% chance of catching the booster, and then maybe more than 50%, perhaps a 60%, 70% chance. Assuming the spacecraft's heat shield remains intact in the upcoming flight, assuming no other issues.

Starlink is easy to install and use, and costs may drop to a few hundred dollars

X Takeover:

One thing I want to mention is that the X acquisition was actually done through Starlink. So all the work SpaceX does is done through Starlink.

Elon Musk:

No, we will also set up Starlink here.

X Takeover:

Starlink connects to Starlink.

Elon Musk:

Yes, I'm also testing procrastination funds. So I like to alternate between the main procrastination antenna and the procrastination fund antenna. It should be clear that the procrastination multi-antenna is not as good as a regular antenna because its antenna is smaller. Its antenna area is not as large as a regular antenna. So the procrastination fund is not completely the same as another, just smallerJust like you give up a bit of antenna area, but it's very portable. Its weight may be a quarter of regular equipment, but the bandwidth is only half of regular equipment. So it's good. It's kind of like, it doesn't need power. Its standby rate is quite high. You can put it in your backpack and take it anywhere you want to go. I think it's very suitable as a backup device for emergency services. So in fact, many responders and emergency service personnel are considering having it because it's easy to install on vehicles. In fact, I know someone who put it on a Tesla, which is cool.

X Takeover:

They're parked on the trucks here. Salute to Teslatino and some others.

Elon Musk:

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

X Takeover:

So Elon, what will you do, we are in a Starlink community market. Two thumbs up. Good reviews. What do you think of it?

Elon Musk:

It's good. You know, it's a new product, so we're just solving some small problems here and there. But so far, everything is fine. It looks good. I think it will be a bestseller. And the manufacturing cost is lower. So, I think, this means that the end cost may eventually drop to around a few hundred dollars, making it accessible. 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 the access capability of Starlink. You can go anywhere in the world, in some of the most remote places, where the knowledge gap is no longer a problem. Even using Starlink Mini to make it easier to access is crazy.

Soon, back to Starship 5. Starship 4 happened. I saw it, I was live at Islablanca Park. Then, even visited the Starship factory, what you are doing at the Starbase is incredible, the speed of iteration and instant changes is very fast, every day passes, it feels like a century has passed elsewhere because your changes are so significant. Besides the heat shield, what other major discoveries do you have for the upcoming Starship launch preparations?

Elon Musk:

There are changes between every flight. There are hundreds of changes on the spacecraft and booster. Many of these changes are small, but cumulatively, they are significant changes for us. So you are the second. So if you add up the changes on the spacecraft, booster, and launch site, there are actually thousands of changes between each flightSo you have SpaceX's talented team working on Stage 0, which is the launch pad and Stage 0. Is this as important as Stage 1 or Stage 2? I think the first stage is the booster, and the second stage is the spacecraft. So the mass will be very large, and many things will be. If I go into details, people will say, I don't know what you're talking about. Most people just need to install a small valve here, replace a line here, and then make a series of adjustments to the software. So, there's a lot of things, not as easy to describe as upgrading the heat shield.

From the next few flights onwards, there will be a more significant change. I think it's the 7th spaceship, we will move the front to the back. This story annoys me because we made a mistake in the spaceship design initially, which is to make the front and back symmetrical, with the front being 180 degrees. You really want the front to be on the leeward side of the wind. Maybe if you don't know that, it doesn't make sense.

The gimbal itself is like a skydiver, with the front foot like the hand, arm, and leg. So it's very different from an airplane. Then forward, you really don't want visible airflow forward. Because you're really trying desperately not to let the engine run sideways. Rotate forward and enter the hot plasma. So, I think with the 7th gear, four of them have shrunk. They're a bit rotating back. They will change position. Not 180 degrees, but 150 degrees. So, these four are actually just trimmed.

So basically, in short, they become smaller, lighter, payload improved. Then we can continue. Improving the heat shield, the key performance of the engine will be better, so we can run the engine at higher thrust and more reliably. And the real big change may come around next year. Remove the bottom heat shield and the spaceship. Heat shield on the engine side. So the engine doesn't need to be encapsulated in the next major overhaul, which is quite tricky. But this will eliminate a lot of mass from the bottom of the spacecraft and the bottom of the spaceship. However, installing the spaceship in the booster will make both lighter, and the engine more robust.

Now, these are a lot of technical details about the Starship. The payload will easily exceed 100 tons and enter a useful orbit. It is 100 times more useful and completely reusable. The return of the booster to the launch pad in the spaceship means that the cost per ton of orbit is about 100 times less than before. This is the reason for life to transcend the Earth. Egypt is building a self-sufficient city on Mars, which will greatly extend the lifespan of consciousness, I think for thousands of years.

X Takeover:

But Elon, there is something incredible about you, which is your understanding of details. I don't think I've ever seen any leader of a company so deeply involved in details, and you can be both high and low, which is really amazing. But one thing I noticed about you is that you are highly involved in everything you do, you can take a bird's eye view, and you can also delve into the details.

Elon Musk:

Well, I mean, I'm responsible for the engineering design of the company. So relatively unusual. I think one of the important reasons for the company's success is my understanding of engineering. I know, when someone, I like my judgment, judging whether someone is good at engineering or designSo, when it comes to truly having the most talented people and giving them the greatest responsibility. If you really don't understand engineering, then how do you know if someone is a good engineer? So this is really important. We are a very talented team, but in order to know if someone is talented, you must also understand engineering.

Optimus is an intelligent robot with arms and legs

X Takeover:

Elon, let's change the topic and talk about Tesla.

X Takeover:

Now, X takeover, but we are now acquiring Tesla around the world.

Elon Musk:

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

X Takeover:

I just bought a Tesla in 2018 and started driving it, I can't believe how much fun it brings. And there is fake news, especially in the Bay Area. So, yeah.

Elon Musk:

You know, it's always been like this.

X Takeover:

Join this community, create these epic events. Yes, Elon. Obviously there are a lot of Tesla fans here, as well as SpaceX, but in terms of Tesla, can you provide us with any latest news on future models? Obviously, robot taxis. Next, I can't do a full product release.

X Takeover:

At X Takeover. Just kidding.

Elon Musk:

What I mean is, I think a lot of what we said in earnings calls or conferences, I've tried. I've said my thoughts on earnings calls. But the most important thing is achieving unsupervised fully autonomous driving. This is really profound, I hope many of you have the opportunity to use 12.5 or at least 12.3.6. Tesla's AI team, there are hundreds of people. It's not a huge team. Just a few hundred super genius engineers.

I want to emphasize this. It's obviously much more than me, and, it's hard to recognize 200 people. But what I want to emphasize is, actually over 200 people are responsible for fully autonomous driving software. 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, and then the upcoming Hardware 5, possibly in mass production by 2026.

It's a great chip team. And we also have a great training cluster team. Running a large video training cluster is actually very difficult, it requires a lot of skills and a lot of work. The team is working 24/7, extending the southern part of the gigafactory being built in Austin. I just talked to the team last night, the main progress of installing servers is going well. But things are not as simple as buying graphics cards, plugging them in, and they start training.

It's actually very difficult. If you have a large Nvidia training run or any type of large training run, the power fluctuations are unlike anything you've seen elsewhere, because the GPUs are running at extremely high precisionJust like a symphony, this actually leads to electrical difficulties, like a nightmare in electricity, because when the GPU rises, the power rises, and when the GPU falls, the power falls. This situation may occur at intervals of hundreds of milliseconds. This is actually quite difficult.

X Takeover:

Almost like a performance.

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 drop from 15 megawatts to 20 megawatts in 100 milliseconds, which is very unusual. So this is actually quite a big challenge. Hats off to the Tesla team, because you are building and operating a training center. This requires completing a lot of puzzles. We have a lot of data and we input it into the training system.

The end result is that it really starts to become quite striking. I think it's 12.5. As I mentioned publicly, we increased the number of parameters by 5 times. You can't just increase parameters unless those parameters are useful and done in the right way. It actually has to make the parameters correct, each parameter is a number, but the numbers have to be correct. Artificial intelligence is trying to compress reality effectively. We are shooting all these videos, trying to understand reality, compress it into several gigabytes. I also think it will steadily expand. I might soon reach 20 gigabytes, but we are trying to compress reality into several gigabytes. It's hard. The inference computer in our cars is much weaker than the GPU in the server center. It only has about 15% to 20% of the power.

So, if your inference computer is relatively weak, then you have to put more effort into training to make up for the shortcomings of the inference computer. But it's working. I think it is indeed working.

X Takeover:

Speaking of light shows, Elon, I just want to thank you for retweeting and sharing our X Takeover light show. Thank you very much. Of course. So I want to talk about battery technology. In terms of battery technology, what progress are you most excited about? How will they affect Tesla's range of inefficient features?

Elon Musk:

I think it's worth noting that even without breakthroughs in battery technology, I think you can electrify all road transport. All roads and transport ships can be electrified, even if there are no improvements in battery technology. This may be an important point to note. Battery technology will be improved now, but even without it, you can electrify all ground and water transport for aircraft. You do need improvements in energy density, graph metrics, and volume metrics for energy density.

Ideally, you want an energy density of about 450 or 500 per kilogram. In some cases, this is achievable, that's all. You know who sells at high prices, they are in that area. But in reality, most of the R&D work is to improve the cost per kilowatt-hour. How companies improve the cost of range. Improve the cost of battery packs to make cars more affordable. People are starting to expect a range of about 300 miles, which I think is a bit normalPossibly about 300 miles. If you assume you are not climbing in cold weather, as you increase the load, the range will decrease. If you go downhill, the range will increase.

So, I think it's a normal standard for EPA range to exceed 300 miles. Then it's just a matter of figuring out how to manufacture enough battery packs and then scale up.

I think we have made good progress in designing and selling at Tesla, which is a design manufacturer sales, which is a tough one. Their whole company. That's everything they do. But progress is good. No major breakthroughs. How many gigawatt-hours need to be sold each year to truly transition the world to a sustainable energy economy, and there is still 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 stationary storage. So pairing wind power with stationary battery packs and solar stationary battery packs.

Overall, improving the efficiency and stability of the grid through stationary battery packs is actually a big deal. So, overall, I think things are progressing well.

X Takeover:

When you think about the many people who have been paying attention to this over the years, I started paying attention to this relatively late, but things have happened, it's crazy, even starting in 2018, you know, from bankruptcy to the company starting with 5,000 Model 3s fully autonomous driving, it's really crazy.

One thing I've always known is that eventually I will be driving a robot. But I never thought, maybe my thinking is limited to this. If we really are going to specialize in making humanoid robots at Tesla. You know, Tesla is an artificial intelligence product company, how does this relate to what's happening in the factory? You comment on what's happening in the world. So, how is the situation.

Elon Musk:

Robots.

X Takeover:

Yes, so how do humanoid robots affect valuation perspectives and company vision.

Elon Musk:

I mean, you can think of Tesla cars as essentially four-wheeled robots. It's really profound, I suggest just showing people the autonomous driving capability, to friends and family, etc. Because if you look at a model through a model, I mean, it's a good-looking car, but it doesn't look super intelligent.

It looks like a good-looking electric car, but it doesn't look like, for example, you have a cat. It looks like an ordinary cat. But in reality, your cat can talk, jump, wear hats and canes, perform musicals. Suppose you have a sentient cat, it talks, sings, and dances. But people see the cat on the couch, it looks like an ordinary cat, until it jumps up to sing and dance, people will say, wow, what is that. That's the characteristic of autonomous driving cars.

The Model 3 looks nice, looks normal. It's just that our car can basically sing and dance, and it's smart, it can drive from one place to another. So just show this to people who will be amazed. I suggest doing this, because it's really crucialAnd for the Optimus robot, this is actually an extension of what we learned from cars. A car is an intelligent robot with four wheels. Optimus is an intelligent robot with arms and legs. Taking Optimus as an example, we have to design every part of the robot from scratch. All the motors, gears, electronic devices, and sensors must be designed from scratch. And we also have to learn how to operate all these motors and sensors. You can really learn a lot about how the human body works, and you will realize that our evolution has a purpose.

Do you know why the muscles that operate your hand are actually located in your forearm? If you look at your hand, it's a bit like a puppet. The strings of the puppet are in your forearm. In fact, there is a small part of the muscles in the hand, but most of the operation of your hand is done by the muscles in the forearm.

In the current version of Optimus, our actuators are actually located in the hand. However, for the new version we are going to launch later this year, the actuators are located in the forearm, truly simulating the way a human hand works. When I say actuators, actuators include motors, gearboxes, power electronics, and sensors. In fact, without actuators, which you can buy for any amount of money, these actuators are very useful for humanoid robots.

So, we are actually going back to the first principles of physics, designing all actuators from scratch. This is a daunting task, and I think it will be very difficult. For any company without actuators, designing actuators to make efficient humanoid robots is not an easy task. Then, it will have a brain similar to a car. Initially, it was Hardware 4, then Hardware 5, in 2026. And just like cars, cars are learning how to navigate reality.

This is also the same basic process for humans. I think basically everyone wants one. Who wouldn't want one? For example, suppose R2D2 and C3PO were real, you could have them, who wouldn't want R2D2 or C3PO? That would be great. I like a friendly companion robot. Now we need to make sure they stay friendly. This is very important.

Yes, but I think it's a bit like people being very attached to their teams, right? Just like people, you know, you will become dependent on R2D2 and C3PO. I think everyone would want one. I think in the long run, the cost of humanoid robots should be lower than the cost of cars because they are lighter in weight. There are fewer parts inside.

So in the end, I think, a super useful humanoid robot, in the long run, might cost $20,000 or $25,000. I don't know how much a dollar will be worth in the future. But this year, I can foresee that the price of humanoid robots will be between $20,000 and $25,000. That's really useful, it can help you take care of children, walk the dog, go grocery shopping, whatever, as long as it's useful. So I think everyone would want one. There are 8 billion people on Earth, and I think they would all want one. So I think this could be the biggest thing everX Takeover：

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

Elon Musk：

I mean, at first, we will do some basic things in the Tesla factory next year in the first year of Optimus production design. Because we want to solve a lot of detailed problems. This is just to make sure it is useful. In the first year or so, the engineering department needs quite a bit of care. Then hopefully by 2026, we can sell it to outsiders. Because we are confident that it will run quite well and be able to respond to voice commands and the like. Then you can customize the appearance of the robot to some extent. You can put some kind of shell on the robot, so I think there will be all kinds of changes, and other robots will look like you know.

Maybe some third parties can do some cool things, like, the third-party packaging of the Cybertruck is cool, I think there is some very creative art. So the music is like most of its cars look a bit like bare stainless steel. I eventually got some of the most interesting art, in terms of its packaging and certain aspects. Yes, it's really unique. In fact, for L, he is also very creative, 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 Cybertruck, I have had a Cybertruck since mid-February. And, I have gotten used to FSD.

Elon Musk：

Oh, you really want it, but I totally agree.

X Takeover：

I don't know if I can get special treatment, but regardless, or more importantly, it is the same for everyone. I'm just saying I've driven 10,000 miles, driving the most advanced technology has exhausted me, I feel like I'm driving. It is still the most amazing feature test ever. But is there any update on FSD for the Cybertruck?

Elon Musk：

Well, I think it should be released in August. 12.5 is waiting for two weeks.

X Takeover：

A few weeks?

Elon Musk：

Yes, it will be released at some point. In the next 2 to 4 weeks or so. It should work. I will keep track. I'm not sure of the exact time because we just need to test it and make sure it works well. But 12.5 is where a lot of things come together, where you have a higher version. We will upgrade the highway stack to the latest version. So, this is a big deal to have an integrated state-of-the-art highway and city stack. Like any little thing, you can wear sunglasses. And still use your hands while driving, and then let it work on the Cybertruck. A friend of mine drove the Cybertruck only halfway across the country, and he said it made him feel great. He couldn't turn on FSD.

X Takeover：

I think we do have people driving their Cybertrucks from Florida, Toronto. Well, not from, but from all over the United States, I think this is actually something they do like filling out a farmer's identity, even though this is the best product Tesla has made so far

RoboTaxi will be eye-opening

X Takeover:

Yes, this is a great product. So, yes, it will be launched soon. Elon, what future car projects are you most looking forward to? Is it the Roadster? Is it the RoboTaxi? Can you talk about what you are most excited about?

Elon Musk:

Well, I think, in terms of the greatest impact on the world, it will be the RoboTaxi. Of course, all types of vehicles can operate it now, or be able to operate like a RoboTaxi. Yes, but I think dedicated RoboTaxis will have the greatest impact on the world. I think semi-trucks will have a very big impact. The Roadster is not something that is necessary from a practical point of view, but it's very cool.

My friend Peter Thiel once said, why don't we have flying cars? I said, wait, it's coming soon. So I think that would be very cool. Will it change the world? I don't know. But I think sometimes doing cool things, because having some great things or some things in the world are great. So it's like icing on the cake. I think the Roadster demo will be eye-opening. It might be the most eye-opening demo ever.

X Takeover:

When will it happen? I don't know if you can share, but if you have to pass it on, that would be great.

Elon Musk:

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

X Takeover:

Manufacturing alien technology.

Elon Musk:

Some very special things.

X Takeover:

I heard it can fly a little. Yes, that's right.

Elon Musk:

Yes, it will be very special. We will continue to manufacture new products that we have never talked about. There will be new things coming out, but what really matters is full self-driving. Autonomous driving without supervision. It's like a huge change. And then there's Optimus, having autonomous useful humanoid robots. Is it bigger than full self-driving? But if you look back in history, fast forward 20, 30, or even 50 years, you will find that these two things are profound. Autonomous driving without supervision, and truly useful humanoid robots. Even 50 or 100 years from now, they will be considered significant.

X Takeover:

Elon, you have a date on the calendar to announce and launch a network robot taxi. What can we expect?

Elon Musk:

Well, I can't reveal that. You know, you don't want to take the show away before the show starts. So I think it will be a teaser. I think it will be cool, people will be very excited. How many people will realize how profound it is in actuality? What will we showcase? Some people will understand its profundity, but not everyone will, but it will become obvious in hindsightX Takeover:

Alright, yes, everyone, thank you Elon for taking the time. One thing I want to ask you is, we obviously have the latest model, the Model 3 Performance, or the Model 3 Thailand has been launched. The Cybertruck has been unveiled. When you think about the future of transportation, obviously, France was involved in the design. But when you think about unsupervised FSD, how does it change the way you handle or build the future of transportation? Again, I know I don't have to consider the design aspect, but when you think about the next step, how will the future of transportation be affected?

Elon Musk:

If you're not driving, you're essentially sitting in a small 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 keep your attention focused. So it's completely different.

I think the future is also very interesting for Optimus Prime, for those who have lost their limbs. If you use neural links, you can basically control electronic devices. If someone loses an arm or leg, or other situations, connecting and enabling, combining it with neural links, will provide them with essentially cybernetic limbs. This could be quite incredible. I think it would be cool. Neural links and Tesla's joint efforts.

X Takeover:

Elon, there have been some news about candy announcements on X recently. No, I just, I don't know what that is. I just drove to buy candy. So yeah, there are too many candies on my flight.

Elon Musk:

The things happening in the world are too crazy. SpaceX and Tesla are both doing things, artificial intelligence is progressing, and the pharmaceutical industry is also making a lot of progress. There are many interesting magical drugs about to come out. We are confident that we are definitely heading towards the most interesting future. I think we live in the most interesting times. Sometimes it's easy, like feeling frustrated about some daily events or political matters. But from a macro perspective, we live in the most interesting times in history. It's cool.

Musk: Confident 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 for Tesla, especially all the work the community does, Alexandra, the world's Ames, the Tesla community. But when you think about Tesla's retail investors, what comes to mind?

Elon Musk:

Well, I have to say, I like retail investors. Because they decide to support the company, which is very much appreciated. We have the highest proportion of retail investors in all companies, or certainly the highest. I think that's really a good thing. Stock prices will fluctuate up and down for 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 Kathy Wood's company Arc Invest. They have been the most accurate in the past. The company's value will be somewhat 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 move towards a prosperous era. Tesla may now be in a phase similar to where Nvidia was before the video release, and Nvidia's stock soared. I think Nvidia deserves their current valuation. They and Jensen and his team have done an excellent job. This really demonstrates the value of any type of artificial intelligence. A company with strong capabilities in artificial intelligence will have tremendous value, making the value of companies without artificial intelligence pale in comparison.

Advanced artificial intelligence will really make a big difference. Productivity, the simple calculation for cars is that a typical passenger car is used for about 10 hours per week. This is called one and a half hours a day for seven days. So it's about 10 hours. But if it is autonomous, it can be used for 100 hours per week. I'm not sure what the average utilization rate should be, but the average utilization rate in autonomous mode could be 50 hours, but it can definitely be used for 100 hours or 168 hours per week. Therefore, the productivity of cars will increase tenfold, but the cost remains the same. If you do some basic calculations on this, you will find that your profit margin has increased from 20-25% to 90%. This is crazy.

For customers who own C-class cars, we will obviously share revenue with customers. So, I think the income of car owners will be much higher than the cost or financing cost of cars in autonomous mode. If you only consider asset utilization efficiency, you will find that the car usage time increases from 10 hours per week to 50 or 100 hours per week. And it's the same car. This may be the biggest value explosion ever.

X Takeover:

I actually have a question, it's a bit related to what you mentioned, a bit off-topic, but have you seen, have you foreseen the rise of mechanisms to determine the authenticity and effectiveness of content? I think this is a future trend, right? I see half the time I feel like I open YouTube, they are taking away some of the bitcoins you randomly mentioned in interviews, or I have seen our interviews, like people messaging us in May 2022, they are live streaming, just like live. Like, wow, I had long hair two years ago, I look different now. But this is what you're talking about, you randomly mention the price of bitcoin, you know, the real price is falling. So what do you think about this?

Elon Musk:

I really don't promote cryptocurrencies. So if you see me promoting cryptocurrencies, that's not me.

I think bitcoin and some other cryptocurrencies have some advantages. I have a soft spot for Dogecoin. Because I like dogs and memesOn X platform, things will quickly attract the attention of the community, or in the replies, people will say, hey, this isn't real. So I think we can work hard to bring the community's attention to the surface more quickly. In addition, if similar videos appear, community comments will be attached to any type of similar video.

This is for sure. It won't be taken lightly. If you see a cryptocurrency sales promotion like I do, I'll double-check. This is real.

X Takeover:

Elon, we want to ask you one last question, what excites you most about Tesla and SpaceX.

Elon Musk:

The key to SpaceX is achieving fully and rapidly reusable interstellar spacecraft rockets. This is truly the holy grail of space technology. No one has ever built a fully reusable orbital rocket. So the interstellar spacecraft is the first design to achieve this.

This is definitely a profound thing because they are fully reusable and rapidly reusable rockets. This is the difference between humanity as a single-planet civilization and a multi-planet civilization. So this is huge. I think we might get there next year. So this is a big deal.

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

So, if they really sell for $20,000, that's $200 trillion. So, that's a crazy number. So we should hold their stocks. Let's say good things about them.

Anyway, this is 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. For a few years. Thank you for your support.

X Takeover:

If possible, we would love to have a virtual slash in person. Oh, well, I think you would definitely get a standing ovation now. This is insane. When you were talking about that cat during the X takeover, Elon was really dancing. So, once again, thank you, Elon, Kevin, and on behalf of our organization, thank you for participating in the X takeover, thank you for spending about an hour with us. Thanks to the community and retail investors for their support, we thank you for everything you have done for humanity, thank you for picking up the shovel to do this.

Elon Musk:

Well, sounds good. Thank you, everyone.

X Takeover:

Goodbye. Thank you, Elon. Well. The background introduction was supposed to be five minutes. Just like when he called me back, he probably said five minutes, then it went from 15 minutes to 30 minutes, and then we talked for an hour. So thank you for joining this event