Tesla CEO Elon Musk sat down for a sprawling interview with CNBC anchor David Faber on Tuesday following Tesla’s 2023 annual shareholder assembly in Austin, Texas.
During the course of their roughly hour lengthy dialog, Musk mirrored on:
- How he has managed a takeover of Twitter up to now and what lies forward. Among different issues, he mentioned Twitter’s Community Notes function has value Twitter $40 million in enterprise when two huge purchasers decreased spending after their advertisements acquired neighborhood notes accusing them of false promoting. He additionally claimed that when the acquisition closed, Twitter had unfavourable $3 billion in annual money movement and $1 billion within the financial institution. “The analogy I was using was like being teleported into a plane that’s in a nosedive headed to the ground with the engines on fire and the controls don’t work….”
- He additionally defended his personal tweets that have been broadly criticized as lending credence to conspiracies about George Soros and a latest mass taking pictures occasion in Allen, Texas, insisting “I’ll say what I want, and if the consequence of that is losing money, so be it.
- His personal views and habits when it comes to work and productivity. He said he takes only two or three days off per year, works seven days a week and gets six hours of sleep a night. He also said he believes it’s morally wrong for people in the “laptop computer class” to advocate for working from home when service workers, such as people who work in factories, still have to show up in person.
- Tesla’s ability to weather rocky economic cycles. Musk said that the next 12 months will be difficult for Tesla from a macroeconomic perspective because of increased interest rates pinching consumer budgets. But he also said Tesla could take advantage of Tesla’s “real-time data on demand” for its cars to adjust pricing effectively.
- He believes the Fed is going to be too slow to lower interest rates when the economy slows, and that will hurt consumer demand. “You can consider elevating the Fed price as considerably of a brake pedal on the financial system, frankly,” Musk said. “It makes loads of issues dearer. So if the automobile cost or your property mortgage is absorbing extra of your month-to-month price range then you may have much less cash to purchase different issues.”
- What would happen to the global economy if China makes a move to control Taiwan. “The Chinese financial system and the remainder of the worldwide financial system are like conjoined twins. It can be like making an attempt to separate conjoined twins. That’s the severity of the scenario. And it is really worse for lots of different firms than it’s for Tesla. I imply, I’m unsure the place you are going to get an iPhone, for instance.”
- His involvement in the early days of ChatGPT-developer OpenAI, saying that it exists only because he wanted a non-commercial alternative to Google’s growing dominance in AI. He expressed disappointment that the company has abandoned its non-profit roots. And he said he is no longer friends with Google co-founder Larry Page. “The last straw was Larry calling me a ‘species-ist’ for being pro-human consciousness as a substitute of machine consciousness.”
- His political views, including his belief that Joe Biden won the 2020 election and it wasn’t stolen, but that he thinks there was at least some voting fraud. He also said he voted for Biden but hinted he wasn’t happy with his choice, saying “I want we may have only a regular human being as president.”
Source: www.cnbc.com”