It’s a casino
“(Reuters) -Tesla shares jumped 10% on Monday, lifted by the long-awaited launch of the company’s robotaxi service that CEO Elon Musk has for years championed as a key driver of the electric vehicle maker’s lofty valuation.
“The automaker deployed a small fleet of self-driving taxis in Austin, Texas, on Sunday, marking the first time its cars have carried paying passengers without human drivers. The rides were being offered for a flat fee of $4.20 in a limited zone.”
*snip*
“Many social-media influencers also posted videos of their first rides on X, showing the cars navigating busy city streets by slowing down and making room for incoming traffic.
“Still, the tightly controlled trial – with about 10 vehicles and front-seat riders acting as “safety monitors” – is just the first step in what could be a years-long process of scaling up the service, according to some industry experts.”
Shares jumped 10% on news of a phony robotaxi launch? Seriously? That’s not investing, that’s gambling.
A Tesla company guy is in the passenger seat, not the driver’s, which means they’re there to hit an emergency stop button and communicate with the teleoperator. In other words, there is >1 employee per car, probably close to 2. And that for a car with a very limited range. In what sense is that an autonomous vehicle? Does Elon own a fleet of straw buyers for Tesla stock?
Tesla shares soar on news of fake robotaxi
“The automaker deployed a small fleet of self-driving taxis in Austin, Texas, on Sunday, marking the first time its cars have carried paying passengers without human drivers. The rides were being offered for a flat fee of $4.20 in a limited zone.”
*snip*
“Many social-media influencers also posted videos of their first rides on X, showing the cars navigating busy city streets by slowing down and making room for incoming traffic.
“Still, the tightly controlled trial – with about 10 vehicles and front-seat riders acting as “safety monitors” – is just the first step in what could be a years-long process of scaling up the service, according to some industry experts.”
Shares jumped 10% on news of a phony robotaxi launch? Seriously? That’s not investing, that’s gambling.
A Tesla company guy is in the passenger seat, not the driver’s, which means they’re there to hit an emergency stop button and communicate with the teleoperator. In other words, there is >1 employee per car, probably close to 2. And that for a car with a very limited range. In what sense is that an autonomous vehicle? Does Elon own a fleet of straw buyers for Tesla stock?
Tesla shares soar on news of fake robotaxi
Joel:
I am seeing driverless Teslas running around Phoenix. I pointed one out to Jan as it went by us. I was at the speed limit and this one was passing us. Waymo One is supposed running the show here. I have not seen a passenger in one yet.
@Bill,
Yes, Waymo is ahead of Tesla on this. Another reason why I’m baffled why Tesla’s stock jumped over what is already a ridiculous 195 P/E ratio.
It’s not that autonomous robotaxis can’t or won’t happen, it’s Musk’s ability to market a phony product and attract investors that amazes me.
Joel
No doubt and the Gov will assist him till it blows up in some fashion. Home tomorrow. Bone marrow mining Wednesday.