1 00:00:00,120 --> 00:00:02,600 Hello everybody, and welcome back to the show. 2 00:00:02,600 --> 00:00:05,760 Today we'll be discussing the consequences of Australia's 3 00:00:05,760 --> 00:00:09,400 Online Safety Act and its first substantial action against a 4 00:00:09,400 --> 00:00:12,960 major tech platform X, formerly known as Twitter. 5 00:00:13,360 --> 00:00:16,360 And the platform faces a fine for failing to answer questions 6 00:00:16,360 --> 00:00:19,000 from Australia's Safety Commissioner about his efforts 7 00:00:19,000 --> 00:00:21,880 to tackle Child Exploitation and grooming. 8 00:00:22,240 --> 00:00:25,120 This could potentially have significant consequences not 9 00:00:25,120 --> 00:00:29,860 just for X, but also for other tech platforms, advertisers, and 10 00:00:29,860 --> 00:00:33,940 users alike. In March of 2023, E Safety 11 00:00:33,940 --> 00:00:38,140 Commissioner Julie Ingham Grant handed down the decision to find 12 00:00:38,140 --> 00:00:42,900 X around $380,000 after the platform failed to respond to 13 00:00:42,900 --> 00:00:45,340 key questions related to child safety. 14 00:00:45,780 --> 00:00:48,900 While this may seem like a paltry sum for a corporation of 15 00:00:48,900 --> 00:00:52,180 this scale, the real damage may be to XS reputation. 16 00:00:52,540 --> 00:00:55,380 And what's more, failure to comply could result in steeper 17 00:00:55,380 --> 00:01:02,340 fines, up to 493,000, 402 dollars daily back dated all the 18 00:01:02,340 --> 00:01:05,300 way to March. Inman Grant points out that this 19 00:01:05,300 --> 00:01:09,100 is also addressing some of the most heinous crimes committed 20 00:01:09,100 --> 00:01:12,020 against children. Now it's worth noting that all 21 00:01:12,020 --> 00:01:15,740 tech companies, including Meta, Apple, Google and others, were 22 00:01:15,740 --> 00:01:19,180 found to have serious shortfalls of combating child sexual abuse 23 00:01:19,180 --> 00:01:22,780 materials. C Sam and Grooming, Whoever XS 24 00:01:22,780 --> 00:01:26,660 non Compliance was specifically described as more serious. 25 00:01:27,190 --> 00:01:31,310 In some instances, X chose not to answer questions at all, 26 00:01:31,550 --> 00:01:34,710 while in others it provided inaccurate information. 27 00:01:35,070 --> 00:01:38,510 This is particularly concerning, especially when considering the 28 00:01:38,510 --> 00:01:42,070 responsibilities of a platform with such broad user base, which 29 00:01:42,070 --> 00:01:44,230 includes young adults and teenagers. 30 00:01:44,750 --> 00:01:48,150 And earlier this year, X stated that it was working hard to make 31 00:01:48,150 --> 00:01:51,470 his platform safer, specifically to keep child's sexual 32 00:01:51,470 --> 00:01:53,910 exploitation material off its domain. 33 00:01:54,400 --> 00:01:57,920 However, Australia's E Safety report clarified that X's 34 00:01:57,920 --> 00:02:04,320 proactive detection of C Sam fell to 75% from 90% after mass 35 00:02:04,320 --> 00:02:06,560 layoffs. This is problematic because it 36 00:02:06,560 --> 00:02:08,800 contradicts the company's own public statements. 37 00:02:09,680 --> 00:02:12,920 Now, the E Safety report was not kind to X, pointing out that 38 00:02:12,920 --> 00:02:16,680 they failed to provide median response times for user reports 39 00:02:16,680 --> 00:02:19,360 about C Sam. They were not alone, as Google 40 00:02:19,360 --> 00:02:22,080 also failed to offer this metric, but it's a critical 41 00:02:22,080 --> 00:02:25,800 measurement to evaluate how swiftly a platform reacts to and 42 00:02:25,800 --> 00:02:29,840 removes harmful content. Besides, the report also raised 43 00:02:29,840 --> 00:02:32,800 concern about X's lack of investment in technology to 44 00:02:32,800 --> 00:02:36,000 prevent Child Exploitation during live streams or detect 45 00:02:36,000 --> 00:02:39,440 grooming activities. Although X claims that children 46 00:02:39,440 --> 00:02:43,720 are not our target, customer, reports show that Generation Z, 47 00:02:44,040 --> 00:02:48,240 aged between 11 and 26, is the platform's fastest growing 48 00:02:48,240 --> 00:02:51,610 demographic. For the Australians, this isn't 49 00:02:51,610 --> 00:02:54,050 just about imposing fines or regulations. 50 00:02:54,330 --> 00:02:57,410 According to Inman Grant, the goal is to force these platforms 51 00:02:57,410 --> 00:03:01,170 into greater transparency and thereby improve online safety 52 00:03:01,170 --> 00:03:03,650 measures. Inman Grant acknowledges that 53 00:03:03,650 --> 00:03:07,130 while many platforms may find this process confronting, it's 54 00:03:07,290 --> 00:03:09,490 essential for the sake of child safety. 55 00:03:09,850 --> 00:03:13,130 But it wasn't just X that came under the E Safety Commissioner 56 00:03:13,130 --> 00:03:15,610 scrutiny. Google received a formal warning 57 00:03:15,610 --> 00:03:17,810 for failing to provide sufficient responses. 58 00:03:18,420 --> 00:03:21,140 Google's reluctance to comply despite its maturity and 59 00:03:21,140 --> 00:03:26,220 resources Puzzled grant. Both Google and X seem to be 60 00:03:26,220 --> 00:03:29,020 failing in their corporate responsibilities to keep their 61 00:03:29,020 --> 00:03:31,900 platform safe, particularly for children. 62 00:03:31,940 --> 00:03:35,180 And a major point of concern is this issue is that X did not 63 00:03:35,180 --> 00:03:39,220 provide meeting response times to use reports of sexual Child 64 00:03:39,220 --> 00:03:42,420 Exploitation material. Now this missing information 65 00:03:42,460 --> 00:03:46,220 obscures how swiftly X addresses and removes harmful content, 66 00:03:46,600 --> 00:03:49,920 creating a lack of transparency that is both problematic for 67 00:03:49,920 --> 00:03:53,880 regulators and to the public. Google was also cited, and 68 00:03:53,880 --> 00:03:57,400 another worrisome aspect lies in X's customer base. 69 00:03:57,680 --> 00:03:59,960 While the company maintains that its services are not 70 00:04:00,000 --> 00:04:04,400 overwhelmingly used by children, Linda Yaccarino confirmed once 71 00:04:04,400 --> 00:04:08,240 again that Gen. Z is rising in the ranks now. 72 00:04:08,240 --> 00:04:11,840 Our particular focus of E Safety's enforcement efforts is 73 00:04:11,840 --> 00:04:15,080 to encourage universal reporting method for C Sam across 74 00:04:15,080 --> 00:04:18,880 platforms as a potential path towards increased transparency. 75 00:04:19,279 --> 00:04:21,760 This could streamline the process of monitoring and 76 00:04:21,760 --> 00:04:25,400 eliminating hazardous content, improving safety measures more 77 00:04:25,400 --> 00:04:29,240 systematically in the long run. However, E Safety's report 78 00:04:29,240 --> 00:04:32,840 clearly spells out that X's response to compliance notices 79 00:04:33,240 --> 00:04:36,600 have been disappointing and their commissioner was vocal 80 00:04:36,600 --> 00:04:38,480 about the need for tangible action. 81 00:04:38,760 --> 00:04:40,680 Her viewpoint echoes a broader sentiment. 82 00:04:41,080 --> 00:04:43,720 Tech companies, regardless of their size or the reputation, 83 00:04:44,110 --> 00:04:48,150 must put child safety at the forefront of their operations. 84 00:04:49,110 --> 00:04:53,670 X isn't alone in falling short of the regulatory expectations, 85 00:04:53,670 --> 00:04:55,790 though. Google, for example, was also 86 00:04:55,790 --> 00:04:58,630 issued a formal warning, and the platform did not provide 87 00:04:58,630 --> 00:05:01,790 satisfactory answers to questions posed, adhering 88 00:05:01,790 --> 00:05:04,470 instead to vague and generic responses. 89 00:05:04,790 --> 00:05:07,310 This suggests that even tech giants are struggling, or 90 00:05:07,310 --> 00:05:11,630 perhaps unwilling, to fully engage with regulators on these 91 00:05:11,630 --> 00:05:14,380 significant issues. An even more perplexing 92 00:05:14,380 --> 00:05:18,420 situation is Google's failure to use its own CSAI match 93 00:05:18,420 --> 00:05:23,300 technology to detect known child sexual exploitation videos on 94 00:05:23,300 --> 00:05:26,220 some of its services. This raises questions about why 95 00:05:26,220 --> 00:05:29,820 such a technologically advanced company would not utilize 96 00:05:29,820 --> 00:05:31,740 available tools to combat this grave issue. 97 00:05:32,420 --> 00:05:34,780 The debate extends beyond just X and Google. 98 00:05:34,780 --> 00:05:36,860 It impacts the entire tech industry. 99 00:05:37,300 --> 00:05:39,860 Various other companies, including major names like Apple 100 00:05:39,860 --> 00:05:43,650 and Microsoft, have been noted for having serious shortfalls in 101 00:05:43,650 --> 00:05:45,610 their measures against Child Exploitation. 102 00:05:46,490 --> 00:05:49,610 And given these gaps, there's a growing urgency for tighter 103 00:05:49,610 --> 00:05:51,730 regulations that enforce stricter standards. 104 00:05:51,770 --> 00:05:55,170 Australians Online Safety Act sets a precedent in holding tech 105 00:05:55,170 --> 00:05:58,010 companies accountable for their role in online safety. 106 00:05:58,290 --> 00:06:01,570 This legislation and the action stemming from it could inspire 107 00:06:01,570 --> 00:06:04,930 similar measures globally. But for that to happen, there 108 00:06:04,930 --> 00:06:06,890 needs to be an industry wide awakening. 109 00:06:07,050 --> 00:06:10,640 Companies must be proactive, transparent, and fully compliant 110 00:06:10,640 --> 00:06:12,200 in their approaches to online safety. 111 00:06:12,200 --> 00:06:15,000 Next, we're peeling back the curtain a little bit on Spacex's 112 00:06:15,000 --> 00:06:19,120 grand plans and a little bit of drama that's going on with the 113 00:06:19,120 --> 00:06:21,040 next generation of their spacecraft. 114 00:06:21,040 --> 00:06:24,520 The Starship seems like Elon Musk and the SpaceX team are 115 00:06:24,520 --> 00:06:29,440 also pushing boundaries down at Boca Chica Starbase, Texas. 116 00:06:29,720 --> 00:06:33,440 From successfully landing and reusing Falcon 9 rocket boosters 117 00:06:33,440 --> 00:06:36,490 to planning uncrued missions to Mars, this company has been 118 00:06:36,490 --> 00:06:40,210 hitting milestone after milestone and continues to 119 00:06:40,210 --> 00:06:43,770 progress day in, day out. But things haven't always moved 120 00:06:43,770 --> 00:06:47,170 smoothly, and timelines often stretch beyond original 121 00:06:47,170 --> 00:06:49,610 projections. In this episode, we'll discuss 122 00:06:49,610 --> 00:06:53,450 the hurdles, updates, and future plans of Spacex's Starship. 123 00:06:54,410 --> 00:06:57,490 Now, SpaceX has established itself as a pioneer in the 124 00:06:57,490 --> 00:07:00,490 commercial space sector. Last year, the company managed 125 00:07:00,490 --> 00:07:05,240 to conduct 70 launches using Falcon 9 rockets, each featuring 126 00:07:05,280 --> 00:07:09,240 a reusable booster stage, and this innovation and reusability 127 00:07:09,240 --> 00:07:11,800 has significantly cut down costs, allowing for more 128 00:07:11,800 --> 00:07:15,120 frequent launch schedules. However, Musk is not a stranger 129 00:07:15,120 --> 00:07:17,760 to setbacks. Promises of timelines often 130 00:07:17,760 --> 00:07:21,200 outpace actual progress, and ambitious projects can run into 131 00:07:21,200 --> 00:07:23,480 delays. Back in 2016, during an 132 00:07:23,480 --> 00:07:27,360 International Astronomical Congress in Guadalajara, Mexico, 133 00:07:27,560 --> 00:07:31,480 Musk revealed Spacex's initial designs for what was then called 134 00:07:31,870 --> 00:07:36,350 the Interplanetary Transport System, or the ITS aim was for 135 00:07:36,350 --> 00:07:42,230 the first uncrewed landing on Mars to occur in 2022, followed 136 00:07:42,230 --> 00:07:45,390 by the 1st flight with people on board in 2024. 137 00:07:45,950 --> 00:07:49,150 Fast forward to today, and although there has been a test 138 00:07:49,150 --> 00:07:52,110 flight of Starship, it didn't go very smoothly. 139 00:07:52,310 --> 00:07:55,390 The spacecraft lost control during its ascent, leading to 140 00:07:55,390 --> 00:07:57,630 its detonation for safety reasons. 141 00:07:58,190 --> 00:08:00,830 Now a second Starship is already on standby. 142 00:08:00,830 --> 00:08:04,110 According to Musk, the next move now depends on the Federal 143 00:08:04,110 --> 00:08:06,670 Aviation Administration, which is expected to issue a new 144 00:08:06,670 --> 00:08:10,470 launch license sometime soon, And Musk shared some updates on 145 00:08:10,470 --> 00:08:13,070 Starship design. The second stage engines will 146 00:08:13,070 --> 00:08:15,710 ignite before separation from the booster, this time, a 147 00:08:15,710 --> 00:08:19,990 procedure known as hot staging, designed for maximum efficiency. 148 00:08:20,510 --> 00:08:23,230 But it's also a complicated operation that could lead to 149 00:08:23,350 --> 00:08:26,350 unexpected challenges. And while SpaceX has been known 150 00:08:26,350 --> 00:08:29,900 for its engineering progress, navigating through regulatory 151 00:08:29,900 --> 00:08:32,740 frameworks remains very challenging. 152 00:08:33,059 --> 00:08:35,980 The company is currently awaiting approval from the FAA 153 00:08:35,980 --> 00:08:41,179 for the next IFT 2 Starship test flight from Boca Chica Starbase, 154 00:08:41,179 --> 00:08:43,020 Texas. And this isn't the only 155 00:08:43,020 --> 00:08:47,100 regulatory hurdle, though. The US Fish and Wildlife Service 156 00:08:47,380 --> 00:08:50,980 has received a final biological assessment from the FAA, 157 00:08:51,300 --> 00:08:55,900 initiating a 30 day review period that could be extended to 158 00:08:55,900 --> 00:09:00,540 the spring of 2024 under certain conditions and according to the 159 00:09:00,540 --> 00:09:03,700 Fish and Wildlife Service Re, initiation of formal 160 00:09:03,700 --> 00:09:06,900 consultation under the Endangered Species Act is 161 00:09:06,900 --> 00:09:10,300 necessary when there's significant change in a project 162 00:09:10,300 --> 00:09:12,820 and its impacts. This review is a result of 163 00:09:12,820 --> 00:09:16,700 Spacex's newly implemented Water Dillard system, part of a list 164 00:09:16,700 --> 00:09:20,140 of 63 corrective actions recommended after the 165 00:09:20,140 --> 00:09:23,140 unsuccessful launch of the first Starship test flight. 166 00:09:23,780 --> 00:09:26,540 This new system has already been deployed during static fire 167 00:09:26,540 --> 00:09:30,180 tests of Booster 9, which is set to be the next SpaceX launch 168 00:09:30,180 --> 00:09:34,060 vehicle, and Elon Musk is no longer explicitly stating that 169 00:09:34,060 --> 00:09:37,980 humans will be on Mars by 2024. However, he does have other 170 00:09:37,980 --> 00:09:41,540 ambitious plans for Starship. One such goal is the quick turn 171 00:09:41,540 --> 00:09:44,540 around between launches, which would involve catching the Super 172 00:09:44,540 --> 00:09:48,100 heavy booster in the Starship upper stage in mid air after 173 00:09:48,100 --> 00:09:51,820 they returned from the missions. Musk says that it's a decent 174 00:09:51,820 --> 00:09:55,100 chance of this happening within the next year. 175 00:09:56,060 --> 00:09:57,940 Now. Additionally, SpaceX is planning 176 00:09:57,940 --> 00:10:01,100 to launch its next generation Starlink satellites using 177 00:10:01,100 --> 00:10:02,700 expendable versions of the Starship. 178 00:10:03,140 --> 00:10:06,460 Now, the question that still remains unanswered is when will 179 00:10:06,460 --> 00:10:08,820 Starship land NASA astronauts on the moon? 180 00:10:09,380 --> 00:10:11,780 While Musk acknowledged that a lunar Lander version is in the 181 00:10:11,780 --> 00:10:14,820 works, he emphasized that the design will not deviate much 182 00:10:14,820 --> 00:10:17,260 from a spacecraft intended for Mars missions. 183 00:10:17,740 --> 00:10:22,180 Now Artemis 3, NASA's program to land astronauts on the moon, is 184 00:10:22,180 --> 00:10:26,380 currently scheduled for late 2025, but it could be pushed 185 00:10:26,380 --> 00:10:29,060 back further. Spacex's Starship was chosen as 186 00:10:29,060 --> 00:10:31,740 the human landing system for this mission, and a senior 187 00:10:31,740 --> 00:10:35,220 SpaceX official noted that there is a backlog with FAA work 188 00:10:35,660 --> 00:10:38,140 leading to delays in the licensing progress in the 189 00:10:38,140 --> 00:10:40,820 process and Starship. This could have ripple effects 190 00:10:40,820 --> 00:10:43,620 in the Artemis program's timeline as well, and there's 191 00:10:43,620 --> 00:10:47,020 also political pressure mounting for SpaceX, especially as its 192 00:10:47,020 --> 00:10:50,020 vice president of build and flight reliability is set to 193 00:10:50,020 --> 00:10:52,820 testify before the Senate Subcommittee on Space and 194 00:10:52,820 --> 00:10:55,700 Science. This hearing will likely cover a 195 00:10:55,700 --> 00:10:59,300 range of issues, from suborbital flights to lunar surface 196 00:10:59,300 --> 00:11:01,820 habitats, and is crucial for SpaceX. 197 00:11:01,820 --> 00:11:05,080 As it continues to push the envelope in space exploration 198 00:11:05,080 --> 00:11:07,440 technologies. And in the labyrinth of these 199 00:11:07,440 --> 00:11:10,360 regulations and bureaucratic obstacles, SpaceX is finding 200 00:11:10,360 --> 00:11:13,400 itself at the crossroads of innovation and policy. 201 00:11:13,920 --> 00:11:17,360 This testimony isn't just about SpaceX, it's a marker for the 202 00:11:17,360 --> 00:11:19,880 entire industries. Companies like Blue Origin, 203 00:11:20,280 --> 00:11:23,000 Virgin Galactic, and others will also weigh in shaping the 204 00:11:23,000 --> 00:11:27,360 conversation from suborbital tourism to long term lunar 205 00:11:27,360 --> 00:11:29,800 habitation. Now, this juncture is 206 00:11:29,800 --> 00:11:32,520 particularly pivotal for Spacex's Starship program. 207 00:11:33,130 --> 00:11:36,490 The Human Landing system for NASA's Artemis missions is in 208 00:11:36,490 --> 00:11:39,570 play here, and according to SpaceX officials, the snail's 209 00:11:39,570 --> 00:11:44,610 pace of FAA approvals has become a critical path item, putting 210 00:11:44,610 --> 00:11:47,050 pressure on an already challenging Artemis timeline. 211 00:11:47,410 --> 00:11:50,010 Now, the need for a series of demonstration flights, ranging 212 00:11:50,010 --> 00:11:53,970 from ship to ship refueling to uncrewed lunar landings means 213 00:11:53,970 --> 00:11:57,010 that the FAA's foot dragging could stretch these critical 214 00:11:57,010 --> 00:12:01,690 months into very critical years. And to navigate these hurdles, 215 00:12:02,090 --> 00:12:04,530 SpaceX and its industry counterparts will have to 216 00:12:04,530 --> 00:12:07,730 advocate not just for the individual ventures, but for a 217 00:12:07,730 --> 00:12:10,770 more streamlined regulatory framework that accommodates the 218 00:12:10,770 --> 00:12:14,530 unique demands and potentials of commercial spaceflight. 219 00:12:15,330 --> 00:12:17,490 Now, this is not just about reaching Mars or going back to 220 00:12:17,490 --> 00:12:19,570 the moon. It's about shaping the rules and 221 00:12:19,570 --> 00:12:22,450 the expectations that will govern humanity's access to 222 00:12:22,450 --> 00:12:25,970 space for decades to come, not just for astronauts, but for 223 00:12:25,970 --> 00:12:30,450 normal people like you and me. And as SpaceX deals with an ever 224 00:12:30,450 --> 00:12:33,610 changing timetable subject to the whims of regulatory bodies 225 00:12:33,610 --> 00:12:36,170 and the realities of technological innovation, they 226 00:12:36,170 --> 00:12:38,850 find themselves in a challenging yet pivotal position. 227 00:12:39,450 --> 00:12:42,570 Musk's dreams of interplanetary travel in a new aerospace 228 00:12:42,570 --> 00:12:45,730 exploration hinge not only on the hardware his company is so 229 00:12:45,730 --> 00:12:49,130 adept at creating, but also on a broader regulatory environment 230 00:12:49,130 --> 00:12:51,730 that is agile enough to keep pace with the speed of modern 231 00:12:51,730 --> 00:12:53,890 innovation. Moving on to our next topic, 232 00:12:53,970 --> 00:12:58,160 we're going to unpack Elon Musk's Tesla and their latest 233 00:12:58,160 --> 00:13:00,680 offering. And no, it's not another 234 00:13:00,680 --> 00:13:03,560 electric vehicle. It's actually a limited edition 235 00:13:03,560 --> 00:13:07,840 set of beers that you could drink, retailing for a hefty 236 00:13:08,000 --> 00:13:12,000 $150.00. We'll also touch upon the 237 00:13:12,000 --> 00:13:15,720 contrasting fortunes of Elon Musk and Bernard Arnault, owner 238 00:13:15,720 --> 00:13:20,600 of luxury conglomerate LVMH, and how Tesla's merchandising may 239 00:13:20,600 --> 00:13:24,680 move some people that were interested in a cyber truck to 240 00:13:24,720 --> 00:13:27,720 stick with it. Now Tesla, the electric vehicle 241 00:13:27,720 --> 00:13:30,160 giant, has given us yet another curveball. 242 00:13:30,320 --> 00:13:33,480 The company known for its disruptive automotive technology 243 00:13:33,720 --> 00:13:38,160 is now brewing beers. Yes, that's right, Tesla is 244 00:13:38,160 --> 00:13:42,960 releasing an exclusive set of beers dubbed Tesla Cyber Beer, 245 00:13:43,160 --> 00:13:46,440 along with a pair of ceramic steins called Cyber Steins. 246 00:13:46,680 --> 00:13:49,680 These are specifically designed to reflect the aesthetics of 247 00:13:49,680 --> 00:13:52,600 Tesla's much anticipated Cyber truck. 248 00:13:53,620 --> 00:13:57,980 Tesla's offering 211 ounce bottles of lager with unique 249 00:13:57,980 --> 00:14:01,900 notes of herb, spice, tea and citrus, all wrapped in an 250 00:14:01,900 --> 00:14:06,340 exquisitely designed gloss black sleeve in a sip these beers in 251 00:14:06,340 --> 00:14:09,500 style. The kit also includes 2 matte 252 00:14:09,500 --> 00:14:13,460 black ceramic steins with a design mimicking the angular 253 00:14:13,460 --> 00:14:16,180 structure of the cyber truck. These are not just drinking 254 00:14:16,180 --> 00:14:20,340 vessels, but are also being viewed as future collector's 255 00:14:20,340 --> 00:14:22,580 items. The beer will start shipping in 256 00:14:22,580 --> 00:14:25,580 October, but there's a catch. The offer is limited to 257 00:14:25,580 --> 00:14:28,260 individuals who are at least 21 years old and reside in the 258 00:14:28,260 --> 00:14:31,060 United States. And after adding tax and about 259 00:14:31,060 --> 00:14:35,740 $15 for shipping, the total cost for the beer and the steins is 260 00:14:35,740 --> 00:14:40,780 $176.63. Now, Earlier in the year, Tesla 261 00:14:40,780 --> 00:14:44,060 has already dipped its toes in the brewing industry with a $30 262 00:14:44,060 --> 00:14:46,980 Giga beer celebrating the opening of its Berlin 263 00:14:46,980 --> 00:14:49,780 Gigafactory. Tesla's move into alcohol isn't 264 00:14:49,780 --> 00:14:53,360 just a one off affair Seems like a deliberate attempt to 265 00:14:53,360 --> 00:14:56,440 diversify the brand's portfolio for the future. 266 00:14:56,440 --> 00:14:59,160 It's a nice little trinket to have a collector's item for the 267 00:14:59,160 --> 00:15:02,000 future. And while Tesla's stock has 268 00:15:02,000 --> 00:15:05,880 performed very well this year, increasing Elon Musk's wealth by 269 00:15:05,880 --> 00:15:11,720 approximately $100 billion, Bernard Arnault of LVMH is 270 00:15:11,720 --> 00:15:13,920 seeing a downturn in his fortunes. 271 00:15:14,120 --> 00:15:18,080 Arnault's estimated net worth fell by more than $5 billion 272 00:15:18,080 --> 00:15:21,560 recently, mainly due a decline in the LVMH stock. 273 00:15:22,060 --> 00:15:25,140 The luxury conglomerate posted weaker than expected sales, 274 00:15:25,140 --> 00:15:28,820 indicating challenges in the luxury sector Amid global 275 00:15:28,820 --> 00:15:31,620 economic shifts. Arno and Musk have often been 276 00:15:31,620 --> 00:15:34,100 neck and neck in the race for the title of the world's richest 277 00:15:34,100 --> 00:15:36,740 person. But as Tesla diversifies into 278 00:15:36,740 --> 00:15:41,540 areas traditionally dominated by luxury brands like LVMH, we must 279 00:15:41,540 --> 00:15:44,500 wonder as Tesla's entry into high end merchandising like 280 00:15:44,500 --> 00:15:48,460 cyber beer in additional pressure point to Bernard are 281 00:15:48,460 --> 00:15:50,180 no. Now let's not forget that this 282 00:15:50,180 --> 00:15:53,420 is not Tesla's first far right into merchandising, the 283 00:15:53,420 --> 00:15:57,780 automaker had early released a $250 bottle of tequila shaped 284 00:15:57,780 --> 00:16:00,020 like a lightning bolt. Although they had initially 285 00:16:00,020 --> 00:16:04,620 filed the name for the liquor Tesla Kela, they had to drop the 286 00:16:04,620 --> 00:16:06,700 idea due to industry regulations. 287 00:16:06,980 --> 00:16:09,380 Tesla's merchandising gamuts are more than just stunts. 288 00:16:09,500 --> 00:16:12,140 They offer unique, limited edition items that aligned with 289 00:16:12,140 --> 00:16:14,870 the company's brand identity, and the diverse range of 290 00:16:14,870 --> 00:16:18,310 products from Tesla seems to extend the company's ethos into 291 00:16:18,310 --> 00:16:20,070 other aspects of lifestyle as well. 292 00:16:20,430 --> 00:16:22,990 Whether it's a Gigafactory themed beer or lightning bolt 293 00:16:22,990 --> 00:16:26,070 shaped tequila, Tesla's merchandise feels like an 294 00:16:26,070 --> 00:16:29,070 extension of the futuristic disruptive brand image. 295 00:16:29,550 --> 00:16:32,950 Now the divergent in fortunes between our No and Musk isn't 296 00:16:32,950 --> 00:16:35,230 just about beers and luxury products, the side of how 297 00:16:35,230 --> 00:16:38,550 different industries are responding to the current global 298 00:16:38,550 --> 00:16:41,680 economic environment. LVMH is feeling the pinch from 299 00:16:41,680 --> 00:16:44,880 weakening consumer trends, especially in its key markets 300 00:16:44,880 --> 00:16:47,080 like China. And on the other hand, Tesla 301 00:16:47,080 --> 00:16:49,880 seems to be riding high in the diversification strategy which 302 00:16:49,880 --> 00:16:52,600 seems to be paying off. Luxury sector in the tech 303 00:16:52,600 --> 00:16:55,480 industry often cater to a similar clientele who are 304 00:16:55,480 --> 00:16:59,160 willing to pay a premium for high quality exclusive products. 305 00:16:59,440 --> 00:17:01,960 So when Tesla moves into the merchandising game, could it be 306 00:17:01,960 --> 00:17:05,040 stealing some of another luxury markets Thunder? 307 00:17:05,560 --> 00:17:07,800 It's kind of an intriguing question to think about. 308 00:17:07,960 --> 00:17:11,420 And shifting gears a little bit, NASA recently launched the 309 00:17:11,420 --> 00:17:15,140 Psyche mission aboard a Falcon Heavy SpaceX rocket. 310 00:17:15,380 --> 00:17:18,060 It's headed toward a unique asteroid between Mars and 311 00:17:18,060 --> 00:17:20,780 Jupiter. It's embarked on an ambitious 6 312 00:17:20,780 --> 00:17:24,619 year journey that could change our understanding of our whole 313 00:17:24,619 --> 00:17:28,620 solar system as fueled by solar powered propulsion and propelled 314 00:17:28,620 --> 00:17:31,820 by state-of-the-art thrusters. This spacecraft aims to collect 315 00:17:31,820 --> 00:17:34,980 data from the asteroid Psyche, which is believed to be an 316 00:17:34,980 --> 00:17:38,300 exposed planetary core. Now this groundbreaking mission 317 00:17:38,300 --> 00:17:41,740 could offer crucial insights into the violent history of 318 00:17:41,740 --> 00:17:45,780 planetary formation and even the early solar system and how the 319 00:17:45,780 --> 00:17:48,580 Earth was formed. This sets up the stage for 320 00:17:48,580 --> 00:17:50,580 future space expeditions as well. 321 00:17:51,100 --> 00:17:54,460 Now, spacecraft propulsion technologies are continuously 322 00:17:54,460 --> 00:17:57,340 advancing and the Psyche mission is a case in point. 323 00:17:57,580 --> 00:18:00,900 It utilizes solar electric propulsion to journey through 324 00:18:00,900 --> 00:18:04,550 space, A more efficient form of travel compared to traditional 325 00:18:04,550 --> 00:18:08,190 chemical rockets like Spacex's Falcon Heavy and Falcon 9 and 326 00:18:08,190 --> 00:18:09,350 Starship. Now. 327 00:18:09,350 --> 00:18:12,870 This kind of propulsion uses electromagnetic fields to 328 00:18:12,870 --> 00:18:16,990 accelerate ions of xenon gas, offering the potential for 329 00:18:16,990 --> 00:18:19,550 higher speeds and greater maneuverability. 330 00:18:20,350 --> 00:18:23,230 Now, a spacecraft is estimated to accelerate to speeds of up to 331 00:18:23,230 --> 00:18:28,110 124,000 mph, A considerable feat that could influence the 332 00:18:28,150 --> 00:18:31,030 engineering of future deep space missions. 333 00:18:31,460 --> 00:18:33,940 And the mission also includes a cutting edge optical 334 00:18:33,940 --> 00:18:38,740 communication system called DSOC, or the Deep Space Optical 335 00:18:38,740 --> 00:18:42,460 Communication System. This system uses a near infrared 336 00:18:42,460 --> 00:18:46,620 laser to transmit data offering ten to 100 times the bandwidth 337 00:18:46,900 --> 00:18:50,420 of conventional radio wave systems that NASA currently 338 00:18:50,420 --> 00:18:52,260 uses. Now, what this means for space 339 00:18:52,260 --> 00:18:56,170 exploration is a huge deal. Higher data rate returns could 340 00:18:56,170 --> 00:18:59,730 facilitate more sophisticated scientific experiments, not to 341 00:18:59,730 --> 00:19:02,890 mention enable smoother communication for future human 342 00:19:02,890 --> 00:19:06,010 missions. To the moon for something like 343 00:19:06,010 --> 00:19:10,090 the Artemis program, or to Mars with something like Spacex's 344 00:19:10,090 --> 00:19:13,210 Starship, this could be a game changer, opening up doors to 345 00:19:13,210 --> 00:19:17,010 more ambitious projects like manned missions further out of 346 00:19:17,010 --> 00:19:20,290 the solar system or district asteroid mining. 347 00:19:20,750 --> 00:19:23,910 Now NASA's Psyche mission isn't just a scientific exploration, 348 00:19:24,350 --> 00:19:28,350 it's a technological trial run for what could be the next era 349 00:19:28,350 --> 00:19:31,310 of space exploration. With advanced propulsion systems 350 00:19:31,310 --> 00:19:34,390 and breakthrough communication technologies on board, Psyche 351 00:19:34,390 --> 00:19:37,790 could be a milestone in humankind's external quest to 352 00:19:37,790 --> 00:19:39,990 explore our final frontier of space. 353 00:19:40,230 --> 00:19:42,870 And that's such The mission has wide reaching implications for 354 00:19:42,870 --> 00:19:47,080 future space travel, making it not just a venture to watch, but 355 00:19:47,080 --> 00:19:50,400 a cornerstone for what may come next in our journey through this 356 00:19:50,400 --> 00:19:52,120 cosmos. And in this next part of the 357 00:19:52,240 --> 00:19:57,160 zooming in on a burning issue, the tension between SpaceX and 358 00:19:57,160 --> 00:20:00,960 the US government, especially the FAA. 359 00:20:01,440 --> 00:20:04,600 SpaceX has had an explosive year, launching rockets at a 360 00:20:04,600 --> 00:20:07,720 staggering rate and turning the space industry on its head. 361 00:20:07,960 --> 00:20:10,760 However, the government seems to be playing catch up. 362 00:20:11,250 --> 00:20:14,610 Struggling to issue licenses and regulate this game changing 363 00:20:14,610 --> 00:20:19,250 activity Is this regulatory lag hampering Spacex's ambition and 364 00:20:19,250 --> 00:20:23,450 by extension, the future of American space exploration? 365 00:20:24,050 --> 00:20:26,890 Now let's kick things off by talking about Spacex's flight 366 00:20:26,890 --> 00:20:29,090 rates. It's been launching rockets more 367 00:20:29,090 --> 00:20:32,930 than 70 times this year, about once every four days, which is 368 00:20:32,930 --> 00:20:36,090 shaking the foundations of the Space Flight industry. 369 00:20:36,490 --> 00:20:39,770 Now, SpaceX is clearly operating at warp speed, but there's a 370 00:20:39,770 --> 00:20:41,460 hiccup. The government seems to be 371 00:20:41,460 --> 00:20:44,500 lagging. Spacex's vice president of build 372 00:20:44,500 --> 00:20:47,780 and reliability expressed his concerns and plans to voice them 373 00:20:48,060 --> 00:20:51,700 at a Senate hearing this week. The goal is to press Congress to 374 00:20:51,700 --> 00:20:55,340 simplify regulations and hire more Federal Aviation 375 00:20:55,340 --> 00:20:58,180 Administration staff for license issuance. 376 00:20:58,940 --> 00:21:01,860 Now here's the kicker. SpaceX is not just concerned 377 00:21:01,860 --> 00:21:05,220 about the speed, but also the volume. 378 00:21:05,820 --> 00:21:09,180 With other industry players stepping in, they anticipate a 379 00:21:09,180 --> 00:21:12,480 specific and significant industry problem. 380 00:21:12,880 --> 00:21:15,760 The government's slow pace might be a choke point, preventing the 381 00:21:15,760 --> 00:21:19,040 private sector from soaring to new heights and launching more 382 00:21:19,040 --> 00:21:21,280 frequently. It's not just SpaceX. 383 00:21:21,320 --> 00:21:24,400 This could impact the entire Space Flight industry. 384 00:21:24,920 --> 00:21:28,760 Or consider the case for Spacex's inaugural Starship 385 00:21:28,760 --> 00:21:31,720 flight last April. It had to be terminated due to 386 00:21:31,720 --> 00:21:35,320 uncontrolled tumbling, resulting in an FAA investigation. 387 00:21:35,720 --> 00:21:39,520 And the FAA demanded 63 corrective actions for SpaceX, 388 00:21:39,970 --> 00:21:43,090 delaying further Starship launches, a tug of war between 389 00:21:43,090 --> 00:21:45,290 private innovation and public regulation. 390 00:21:46,010 --> 00:21:47,570 And that's kind of how it worked. 391 00:21:48,450 --> 00:21:51,890 For now, SpaceX officials have reported that they spent two 392 00:21:51,890 --> 00:21:54,450 years securing the initial Starship launch license. 393 00:21:54,690 --> 00:21:56,290 It had been waiting months for the second. 394 00:21:56,650 --> 00:21:59,730 Tim Hughes, who's Spacex's senior vice president for global 395 00:21:59,730 --> 00:22:03,410 business and government affairs, mentioned that SpaceX is eager 396 00:22:03,410 --> 00:22:06,010 to fly, but is waiting for the government to catch up. 397 00:22:06,590 --> 00:22:08,790 According to Hughes, if a company can build a rocket 398 00:22:08,790 --> 00:22:12,190 faster than it can be regulated, something is going on. 399 00:22:13,030 --> 00:22:16,470 Hughes suggested the need for regulatory reforms to address 400 00:22:16,470 --> 00:22:19,230 this imbalance. Now this brings us to another 401 00:22:19,230 --> 00:22:21,590 salient point, NASA's involvement. 402 00:22:21,870 --> 00:22:27,150 In 2021, NASA awarded SpaceX a $2.9 billion contract to use 403 00:22:27,150 --> 00:22:30,840 Starship for its Artemis program, and given the national 404 00:22:30,840 --> 00:22:34,640 importance, SpaceX officials argue that such projects should 405 00:22:34,640 --> 00:22:38,480 be prioritized by the FAA. One would expect such a venture 406 00:22:38,480 --> 00:22:42,360 to be fast track Now. It's no secret that Elon Musk 407 00:22:42,360 --> 00:22:46,280 has been critical of regulators now specifically targeting the 408 00:22:46,280 --> 00:22:51,160 FAA for its slow pace. In late 2020, SpaceX launched A 409 00:22:51,160 --> 00:22:54,880 Starship prototype in violation of its FAA license. 410 00:22:55,280 --> 00:22:58,550 Musk made his opinions clear through his tweets, stating that 411 00:22:58,550 --> 00:23:02,430 the FAA's existing rules are not suited for an industry that's so 412 00:23:02,430 --> 00:23:06,750 drastically different from what it was just a decade ago. 413 00:23:07,590 --> 00:23:10,590 Recent interactions between Musk and the senior FAA officials 414 00:23:10,870 --> 00:23:14,590 were described as cordial and productive, yet the FAA is yet 415 00:23:14,630 --> 00:23:17,710 to comment on the matter. They have, however, mentioned 416 00:23:17,910 --> 00:23:20,150 the keeping up with the industry is a challenge they're willing 417 00:23:20,150 --> 00:23:22,590 to rise to. Despite the bureaucracy, it 418 00:23:22,590 --> 00:23:26,470 seems like there's room for improvement and perhaps a middle 419 00:23:26,470 --> 00:23:28,350 ground where both parties can meet. 420 00:23:28,350 --> 00:23:31,830 And according to the FAA officials, the agency has been 421 00:23:31,830 --> 00:23:35,710 requesting additional resources for years but has seen little 422 00:23:35,710 --> 00:23:38,310 action. Currently, they've reallocated 423 00:23:38,310 --> 00:23:41,950 all resources from Spacex's other programs to focus on the 424 00:23:41,950 --> 00:23:45,070 next Starship launch. This means Falcon projects are 425 00:23:45,070 --> 00:23:48,470 on hold for the moment, showcasing the strain that the 426 00:23:48,470 --> 00:23:52,670 FAA is experiencing in keeping up now forecasting the future. 427 00:23:52,950 --> 00:23:58,270 The FAA license just 15 launches in 2015, and that number is 428 00:23:58,270 --> 00:24:05,790 expected to reach 288 by 2027. With SpaceX planning on as many 429 00:24:05,790 --> 00:24:09,710 as 12 launches a month next year, and new rockets from ULA 430 00:24:09,950 --> 00:24:13,670 and Blue Origin on the horizon, the demand for FAA oversight 431 00:24:13,670 --> 00:24:17,790 will only multiply over time. If not addressed now, the 432 00:24:17,790 --> 00:24:21,790 problem could spiral into something unmanageable now. 433 00:24:22,180 --> 00:24:24,540 SpaceX expressed that the current situation is 434 00:24:24,540 --> 00:24:28,820 jeopardizing not just to them, but also US leadership in 435 00:24:28,820 --> 00:24:31,260 spaceflight. The regulatory approach is 436 00:24:31,260 --> 00:24:34,340 clashing with the pace of innovation, putting a damper on 437 00:24:34,340 --> 00:24:37,220 the industry's future. However, he emphasized that the 438 00:24:37,220 --> 00:24:41,460 goal is not to compromise public safety, but to find a way to 439 00:24:41,460 --> 00:24:44,100 move efficiently within that framework. 440 00:24:44,580 --> 00:24:47,540 So where do we go from here? It's a balancing act. 441 00:24:47,620 --> 00:24:50,460 Striking harmony between innovation and regulation is the 442 00:24:50,460 --> 00:24:53,010 need of the hour. Let's hope that the upcoming 443 00:24:53,010 --> 00:24:56,290 Senate hearing sheds a little bit of light on this issue and 444 00:24:56,290 --> 00:24:58,610 paves the way for constructive solutions. 445 00:24:58,610 --> 00:25:01,490 And finally, we're going to cover two major developments in 446 00:25:01,490 --> 00:25:03,290 the realm of Elon Musk's ventures. 447 00:25:03,290 --> 00:25:07,610 First, we're going to talk about Tesla's upcoming Gigafactory in 448 00:25:07,610 --> 00:25:11,530 Mexico and what that means for infrastructure, both locally and 449 00:25:11,530 --> 00:25:15,010 potentially globally. And we'll switch gears and talk 450 00:25:15,010 --> 00:25:19,390 about Tesla's recruiting and the use of the X platform for that, 451 00:25:19,630 --> 00:25:22,670 and also the challenges that Tesla faces when it comes to 452 00:25:22,670 --> 00:25:27,190 growth and advertising. Tesla is in an early planning 453 00:25:27,190 --> 00:25:30,870 stage for a new Gigafactory located in the state of Nuevo 454 00:25:30,870 --> 00:25:34,310 Leon, Mexico, and the company is collaborating with the local 455 00:25:34,310 --> 00:25:36,750 government to determine the necessary investments in 456 00:25:36,750 --> 00:25:40,710 infrastructure to make this factory as successful as 457 00:25:40,710 --> 00:25:43,920 possible. And according to Reuters, this 458 00:25:43,920 --> 00:25:50,080 factory will produce Tesla's $25,000 car, as is expected to 459 00:25:50,080 --> 00:25:53,200 significantly stimulate economic growth in that region. 460 00:25:53,600 --> 00:25:57,240 For the factory to run smoothly, Tesla has requested several key 461 00:25:57,240 --> 00:26:01,840 pieces of infrastructure in Mexico, including road and rail 462 00:26:01,840 --> 00:26:05,160 networks and electric energy substations. 463 00:26:05,680 --> 00:26:08,440 A Tesla's new factory will certainly be a monumental 464 00:26:08,440 --> 00:26:12,280 addition to Mexico's industrial sector, not just as an asset for 465 00:26:12,280 --> 00:26:14,720 producing cars. It's seen as a catalyst for 466 00:26:14,720 --> 00:26:18,360 regional growth and development, and the government of Nuevo Leon 467 00:26:18,680 --> 00:26:21,720 has acknowledged the importance of building necessary 468 00:26:21,720 --> 00:26:25,280 infrastructure like roads, schools, and health centers to 469 00:26:25,280 --> 00:26:28,920 support this new venture. However, there's still much to 470 00:26:28,920 --> 00:26:31,440 be done. For smooth operations, Tesla 471 00:26:31,440 --> 00:26:35,360 needs an electric energy substation and electric lines to 472 00:26:35,360 --> 00:26:37,560 be built where the plant will be constructed. 473 00:26:37,880 --> 00:26:41,790 Additionally, a railway yard is requested to help in 474 00:26:41,790 --> 00:26:43,830 transporting materials to the factory. 475 00:26:43,910 --> 00:26:47,030 These needs present both challenges and opportunities for 476 00:26:47,030 --> 00:26:49,190 local governments and companies in the area. 477 00:26:49,790 --> 00:26:52,790 Now, just last month, Tesla secure the environmental permits 478 00:26:52,790 --> 00:26:55,710 necessary for beginning the initial construction phases. 479 00:26:56,070 --> 00:26:59,350 This is a significant step, providing the company 26 months 480 00:26:59,350 --> 00:27:02,550 to prepare the site and carry out construction activities. 481 00:27:02,870 --> 00:27:07,010 The aim is to complete the plant by the end of 2025, a highly 482 00:27:07,050 --> 00:27:09,850 anticipated milestone for Tesla in Mexico. 483 00:27:10,490 --> 00:27:14,370 This isn't an isolated initiative for Tesla though. 484 00:27:14,730 --> 00:27:17,770 The company has been exploring several locations worldwide, 485 00:27:18,050 --> 00:27:21,970 including India and Thailand for additional factories, but the 486 00:27:21,970 --> 00:27:24,530 Mexican factory is the most recent to receive official 487 00:27:24,530 --> 00:27:26,930 confirmation and the stakes are very high. 488 00:27:27,330 --> 00:27:30,130 With permits in hand and a deadline insight, the clock is 489 00:27:30,130 --> 00:27:31,610 ticking to get everything in place. 490 00:27:32,280 --> 00:27:35,120 A project has drawn considerable attention not only for its 491 00:27:35,120 --> 00:27:38,320 economic prospects but also for its ambitious timeline. 492 00:27:38,680 --> 00:27:42,400 Securing the environmental impact permits was a significant 493 00:27:42,400 --> 00:27:45,600 leap forward, but now comes the complex task of getting the 494 00:27:45,600 --> 00:27:49,360 infrastructure bill a task that Tesla can't be done alone. 495 00:27:50,240 --> 00:27:53,680 Now collaboration with the government and possibly other 496 00:27:53,680 --> 00:27:57,600 private entities will be crucial and necessary for Tesla to move 497 00:27:57,600 --> 00:28:00,560 forward with this. Now, this undertaking showcases 498 00:28:00,560 --> 00:28:03,280 Tesla strategic focus on global expansion. 499 00:28:03,280 --> 00:28:05,760 It also highlights the complexities involved in 500 00:28:05,760 --> 00:28:08,480 developing the infrastructure required for such a large scale 501 00:28:08,480 --> 00:28:11,240 project and the need for electric substations. 502 00:28:11,240 --> 00:28:14,680 Electric lines and railway yards are not just logistical 503 00:28:14,680 --> 00:28:17,800 requirements, but vital components for Tesla's long term 504 00:28:17,800 --> 00:28:20,360 success in the region. Now switching gears a little 505 00:28:20,360 --> 00:28:24,720 bit, let's talk about Tesla Recruiting's recent update on 506 00:28:24,720 --> 00:28:27,520 the X platform. The company announced The job 507 00:28:27,520 --> 00:28:31,430 roles can now be viewed through people's X's profile. 508 00:28:31,830 --> 00:28:34,790 This development paves the way for companies to use similar 509 00:28:34,790 --> 00:28:38,190 features to inform people about job openings they're looking to 510 00:28:38,190 --> 00:28:40,430 fill. This new feature brings another 511 00:28:40,430 --> 00:28:43,430 dimension to the X platform, which is increasingly becoming a 512 00:28:43,430 --> 00:28:47,790 multi faceted social media site. Now users have favorably 513 00:28:47,790 --> 00:28:49,830 compared this feature to LinkedIn. 514 00:28:50,110 --> 00:28:53,910 Although the X platform aims to be a little bit above and beyond 515 00:28:54,150 --> 00:28:57,950 being a mere employment focused platform, feature updates aim to 516 00:28:57,950 --> 00:29:01,710 make it a comprehensive social media destination encompassing 517 00:29:01,710 --> 00:29:05,470 features like live streams and long form written work. 518 00:29:05,830 --> 00:29:09,230 Now the potential of X as an Everything app is massive, the 519 00:29:09,230 --> 00:29:12,230 Elon Musk even projecting that the All in one social media 520 00:29:12,230 --> 00:29:15,950 platform could reach a market cap of $1 trillion. 521 00:29:16,390 --> 00:29:19,750 And the evolution of X from what we've seen so far shows a trend 522 00:29:19,750 --> 00:29:22,550 toward increasing user engagement and providing a wide 523 00:29:22,550 --> 00:29:25,870 array of features that can make it an indispensable part of 524 00:29:25,870 --> 00:29:29,190 people's digital lives. One more item on the agenda 525 00:29:29,190 --> 00:29:32,830 today is Tesla's growth strategy, or more specifically, 526 00:29:33,150 --> 00:29:37,190 the debate about whether Tesla should spend on major media 527 00:29:37,190 --> 00:29:39,670 companies. Gary Black, a fund manager and 528 00:29:39,670 --> 00:29:42,790 Tesla supporter, argues that Tesla should reconsider its 529 00:29:42,790 --> 00:29:45,390 emphasis on price cuts as a growth strategy. 530 00:29:45,910 --> 00:29:49,000 Online polls and social media discussions indicate that many 531 00:29:49,000 --> 00:29:51,720 Tesla fans and investors share this sentiment. 532 00:29:52,160 --> 00:29:55,000 The issue of Tesla's advertising, or the lack 533 00:29:55,000 --> 00:29:58,560 thereof, was raised during the last annual shareholder meeting. 534 00:29:58,880 --> 00:30:02,040 Elon Musk showed openness to the idea, but so far Tesla's 535 00:30:02,040 --> 00:30:04,200 advertising spending has remained minimal. 536 00:30:04,560 --> 00:30:07,640 Instead, price cuts have been the primary strategy to boost 537 00:30:07,640 --> 00:30:10,640 sales and interest, much to the frustration of shareholders like 538 00:30:10,640 --> 00:30:13,320 Gary Black who think it's not working efficiently. 539 00:30:13,840 --> 00:30:17,570 Now Gary Black's point price cuts are effectively a marketing 540 00:30:17,570 --> 00:30:20,530 expense brings a new perspective to the discussion. 541 00:30:20,650 --> 00:30:24,570 With Tesla's U.S. market share among EVs slipping and a 542 00:30:24,570 --> 00:30:26,730 significant reduction in gross margins. 543 00:30:27,050 --> 00:30:31,250 Black and others argue that a focused ad campaign might be a 544 00:30:31,250 --> 00:30:34,810 better use of resources. And the absence of advertising 545 00:30:34,810 --> 00:30:37,810 has put Tesla in an interesting contrast with competitors like 546 00:30:37,810 --> 00:30:40,930 Ford and General Motors or experienced marketers. 547 00:30:41,250 --> 00:30:44,110 The challenge for Tesla then, lies on whether it will adjust 548 00:30:44,110 --> 00:30:46,870 its strategy to include advertising, which could help 549 00:30:46,870 --> 00:30:49,750 the brand resonate with a broader audience now. 550 00:30:49,750 --> 00:30:51,750 All right folks, that's it for today's episode. 551 00:30:52,070 --> 00:30:54,950 We've covered a lot of ground, from Tesla's Mexican Gigafactory 552 00:30:54,950 --> 00:30:57,550 and its infrastructure requirements to the ever growing 553 00:30:57,550 --> 00:31:00,950 X platform in the ongoing debate around Tesla's advertising 554 00:31:00,950 --> 00:31:02,990 strategy. These topics illustrate the 555 00:31:02,990 --> 00:31:05,950 multifaceted challenges and opportunities that lie ahead for 556 00:31:05,950 --> 00:31:08,550 Elon Musk and his ventures. And thank you so much for 557 00:31:08,550 --> 00:31:11,110 listening to the show today. Don't forget to hit the 558 00:31:11,110 --> 00:31:14,310 subscribe or the follow button on whatever podcast latform 559 00:31:14,310 --> 00:31:16,830 you're listening on. It's free, takes a second. 560 00:31:17,030 --> 00:31:20,110 And remember, each eisode is 10 minutes or less designed to 561 00:31:20,110 --> 00:31:23,230 quickly catch you U on all things Elon O. 562 00:31:23,230 --> 00:31:25,710 Take care of yourselves and each other, and I'll see you in the 563 00:31:25,710 --> 00:31:26,150 next one.