Monday, July 15, 2024
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CNBC interview with David Faber


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.

In the course of the course of their roughly hour lengthy dialog, Musk mirrored on:

  • How he has managed a takeover of Twitter thus far and what lies forward. Amongst different issues, he stated Twitter’s Neighborhood Notes function has value Twitter $40 million in enterprise when two large purchasers lowered spending after their advertisements acquired group notes accusing them of false promoting. He additionally claimed that when the acquisition closed, Twitter had adverse $3 billion in annual money circulate and $1 billion within the financial institution. “The analogy I used to be utilizing was like being teleported right into a aircraft that is in a nosedive headed to the bottom with the engines on fireplace and the controls do not work….”
  • He additionally defended his own tweets that have been broadly criticized as lending credence to conspiracies about George Soros and a current mass capturing occasion in Allen, Texas, insisting “I am going to say what I would like, and if the consequence of that’s shedding cash, so be it.
Tesla CEO Elon Musk: I'll say what I want to say, and if we lose money, so be it
  • His private views and habits relating to work and productiveness. He stated he takes solely two or three days off per 12 months, works seven days every week and will get six hours of sleep an evening. He additionally stated he believes it is morally wrong for individuals within the “laptop computer class” to advocate for working from house when service staff, comparable to individuals who work in factories, nonetheless have to indicate up in individual.
Tesla CEO Elon Musk: 'The laptop class is living in la-la land' over work-from-home
  • Tesla’s skill to climate rocky financial cycles. Musk stated that the next 12 months will be difficult for Tesla from a macroeconomic perspective due to elevated rates of interest pinching shopper budgets. However he additionally stated Tesla may make the most of Tesla’s “real-time data on demand” for its vehicles to regulate pricing successfully.
  • He believes the Fed is going to be too slow to lower interest rates when the financial system slows, and that may damage shopper demand. “You’ll be able to consider elevating the Fed price as considerably of a brake pedal on the financial system, frankly,” Musk stated. “It makes a variety of issues dearer. So if the automobile fee or your property mortgage is absorbing extra of your month-to-month finances then you will have much less cash to purchase different issues.”
Tesla CEO Elon Musk: Fed operating with too much 'latency' on rate hike decisions
  • What would occur to the worldwide financial system if China makes a move to control Taiwan. “The Chinese language financial system and the remainder of the worldwide financial system are like conjoined twins. It could be like making an attempt to separate conjoined twins. That is the severity of the scenario. And it is truly worse for lots of different firms than it’s for Tesla. I imply, I am unsure the place you are going to get an iPhone, for instance.”
Tesla CEO Elon Musk on U.S.-China tensions: There is some 'inevitability' to Taiwan situation
  • His involvement within 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 corporate has deserted its non-profit roots. And he stated he’s now not buddies with Google co-founder Larry Web page. “The ultimate straw was Larry calling me a ‘species-ist’ for being pro-human consciousness as a substitute of machine consciousness.”
Elon Musk on Sam Altman and ChatGPT: I am the reason OpenAI exists
  • His political beliefs, together with his perception that Joe Biden received the 2020 election and it wasn’t stolen, however that he thinks there was not less than some voting fraud. He additionally stated he voted for Biden however hinted he wasn’t blissful together with his selection, saying “I want we may have only a regular human being as president.”
Elon Musk on 2024 election: We want a good CEO of America



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