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MARKET TALK W/@OSTIUM
Recorded: July 8, 2025 Duration: 2:13:32Space Recording
Full Transcription
Thank you. all right welcome in everybody come on up there we go what's going on Omar
hey good morning good morning to you as well and I see a few other of our friends coming on in
good morning to you as well and i see a few other of our friends coming on in
jacob landon welcome on in everybody interesting week here in the world of tesla obviously uh
definitely a sell-off has occurred in the stock a little bit today's having a little nice bounce
for about two and a half percent back over that 300 level um it is just an interesting time. There's so much hype going on with self-driving and
robo-taxi and battery pack facilities. And then there's obviously everything that's going on on
the political side. So, Omar, a lot's occurred since we last spoke on this space. Obviously,
everything happening kind of over that July 4th weekend. What is your take on everything that's been going on?
Yeah, there definitely has been a lot going on. So this is a really interesting time for Tesla,
a really pivotal moment for the company. They just reported their quarterly deliveries.
Now we've got earnings coming up in a few weeks, and we've also got the Groiest person on earth, who's involved
in politics, who's always making headlines. The drama is constant with this stock, whether it's
starting a political party or having another secret baby or who knows what is going to happen
next week. There's always some drama going on, especially with Elon.
And, you know, it's been like this for a long time.
I remember, you know, April Fool's Day in 2018 when Elon tweeted that the company was going bankrupt as an April Fool's joke and the company fell 7%, kind of a similar move to the 6.8% drop
we saw yesterday as Elon announced that he's starting the America Party.
And people were very upset, you know, a lot of people believed the company really was
going to go bankrupt.
The company had fallen, the stock had fallen 20% in March of 2018.
And then he tweeted this and the company or the stock fell fallen 20% in March of 2018. And then he tweeted this and the stock fell another
7%. And everyone was very upset. Now, in looking at the stock chart today, you couldn't even pick
that out as a blip. So the investors, I think, who have done really well, haven't focused on what's Elon tweeting today,
what do people think about it.
They've focused on the products and the technology.
And Tesla's really a company that is building the future.
They have a vision for what transportation looks like in the future. It's not you and I driving around with gas cars, doing our chores manually.
It's these autonomous electric robots moving around the world, doing things on their own,
and sometimes giving you a ride if you want to go somewhere at a very low cost.
somewhere at a very low cost. They're vertically integrated and they're focused on building this
future in a way that no other company is. So they've launched their robo-taxi service now in
Austin. They're scaling. We've seen some crazy videos of them handling even pretty heavy rain.
even pretty heavy rain. Their FSD technology in their vehicles is driving us around. It honestly
feels kind of like a cyber cab. I push a button, the car backs itself out of my garage. I tap where
I want to go, I push the start button, and it pulls out of my driveway, drives on city streets, highways, takes me to where I'm going and parks.
And almost nobody is talking about this technology because they're so distracted by what Elon's going to do politically.
Is the federal government going to seek revenge on him and try and hurt the company?
and try and hurt the company.
But really, I think the high order bit here
is really the technology and what they're doing.
And that's really what's going to matter long term,
long after people have forgotten the drama of this week
or next week or the week after that.
So, you know, this quarter,
we also saw the big, beautiful bill from Trump pass,
which really kicked off Elon saying that he wants to start another party.
And this bill eliminates the EV tax credit from the end of September. So this is the last quarter
that they're going to have the EV tax credit.
Now, if you want to get a Tesla
and you're in the United States,
I definitely recommend doing it this quarter
because for the next three months,
the government's going to be buying people Teslas
or at least giving them 7,500 off.
It comes off at the point of sale. That's going to be buying people, Teslas are at least giving them $7,500 off,
it comes off at the point of sale, that's going to be eliminated. Now, a lot of people are concerned,
how is this going to impact Tesla's earnings? I think it's important to remember, the US is only about a third of their global sales. So obviously, sales in China, sales in Turkey, sales in Norway are not going to be impacted by this. And you're already seeing companies like Honda pull out of the U.S. market somewhat with their EVs.
example, that two EV models that they plan to bring to the US, they're not going to bring to
the US because of the removal of these tax credits. And really what we've seen over the last few years
is that Tesla hasn't introduced a lot of new vehicle models, which has traditionally been
their way to drive growth, to expand the TAM with new vehicle segments.
And there's been all these legacy auto EVs and globally all these Chinese startup EVs
that have flooded the market and have really pushed down profits for the industry.
So I think Tesla, being one of the only companies that can produce an EV profitably,
Tesla, being one of the only companies that can produce an EV profitably, will do well even without
the tax credit, and especially as they shift their focus to autonomy. We also have guidance from the
company that they're about to launch some new, more affordable vehicle models. So I think that
should help a little bit with the removal of the credit. And that could be unveiled very soon. I expect them to give us more details maybe on the earnings call that's coming up on the 23rd, I believe.
company. But I think investors who focus on the products and focus on the technology rather than
on the stock price or the tweets from Elon are going to do really well here. Because it's clear
that AI is poised to absolutely transform transportation. We're seeing millions of driverless rides happening
every year and really every month now. We're going to that level where there's
million driverless rides happening every month. And it's only going in one direction.
So Tesla is, I think, the best positioned company to capitalize on this.
I think they're the first company that's going to generate a dollar of profit from autonomous
rideshare.
While Waymo has to buy cars from Jaguar and Hyundai and other companies and retrofit sensors
onto them, Tesla's designing vehicles from the ground up.
They have vehicles like the CyberCab that can do more than five miles on a single kilowatt hour
of electric power. So this is going to give them an advantage on just the basic economics of their
product that's going to be very hard for anybody to match.
And this is, I think, actually what's going to be material
to the company long term.
So I'm really excited.
I took 70 or actually 69 robo-taxi rides in Austin.
The car is driving me around flawlessly
around Southern California. And anytime this
stock goes red, I'm buying the dip here because I think they're just getting started on a really
exciting new chapter. They're finally in their fully driverless era where we have teslas driving
around austin without a driver and they plan to expand very fast to other cities and other areas
as well yeah a lot to take in there uh it's certainly been a very eventful week i think
a couple of key things first off off, definitely profit, right? Profit from autonomous driving is a big key into what you said there.
And that makes sense to me. Obviously, Elon, there's a lot of different things that happen
here. It seems like things are going to heat up into next year, right? Like he's talking about
really moving forward, the primaries. He responded to Evan. Evan had asked him, you know,
is the goal here for the next presidency or for the midterms and he said it's it's this coming year um he definitely seems to
be pushing back when anyone's suggesting otherwise too uh dan ives had a tweet um elon like just
responded to this dan ives talked about tesla board of directions uh take the i think he made
board of directors but he said board of directions. Take the following three steps in our view.
New pay package getting Musk to 25% control clears a path for XAI merger.
Guardrails established for amount of time Musk spends at Tesla as part of pay package.
Oversight on political endeavors.
And Elon responded with, shut up, Dan.
So he seems to be in his area right now, Omar.
Yeah. And, you know, that's the kind of guy he is. The professional thing to do as a CEO,
when an analyst gives feedback right like that is say, well, thank you for your feedback. We'll
take that into consideration. But Elon's not a normal CEO.
But he is the guy who figured out how to make an ordinary car off the production line drive itself.
It's the first time they've mass produced a pure vision driverless car.
So I have a view on Tesla, which is that when you look super long term, Elon's idiosyncrasies are not material.
You know, he is an exceptional guy, right?
You don't see many CEOs who are so involved with how the world runs, meeting with world leaders, politics, starting all these new companies.
politics, starting all these new companies. He's not a normal guy by any sense of the word.
But what he's done, leading Tesla to launch their driverless robo-taxi service and bring
driverless technology to their customers and their fleet. That is really what matters for Tesla.
When you look at Tesla at a trillion-dollar valuation,
a lot of people don't really understand.
They think the market is just a game.
The stock price goes up and down based on how much people like your tweets.
Stocks are buying a business.
So when you talk about whether someone wants to buy Tesla for $1 trillion or $2 trillion or $5 trillion,
it really hinges on one thing.
Are they going to win autonomy?
If they win autonomy, then a trillion-dollar valuation looks cheap.
You have 3 trillion miles traveled in the United States alone. Assume Tesla is able
to take maybe 10 to 20% of that, give it some value. And this company could be producing
hundreds of billions of dollars in earnings. Right now they're producing about $100 billion
a year in revenue. I think they could be producing $100 billion a year
in earnings with autonomy at scale. So Elon is the person who has created the engineering
focused culture that has achieved that, something that no other company has been able to achieve,
something that most other companies said was impossible to achieve.
And longer term, you know, his lifespan is finite. There will be other CEOs. You look at companies
like Apple, these companies tend to trend to, you know, just being managed operationally the way that you would expect. But right now,
he's kind of in founder mode. Let him do what he wants to do. Longer term, all his sort of
idiosyncrasies, tweeting, saying that, you know, we shouldn't do traditional marketing,
that kind of stuff. A lot of it hopefully gets preserved in Tesla's DNA. But longer term,
what's going to value is really the business. Are the earnings there? Or are they not?
You look at Apple long after Steve Jobs was gone, after he tragically passed away,
the company's still producing billions and billions of dollars of earnings based on those
products that he created, even as they haven't expanded into many major new product categories.
And all of jobs sort of idiosyncrasies, they're no longer material to the stock.
And that's kind of how I view Tesla too.
That's kind of how I view Tesla, too.
I can't think of anyone better than Elon to build up this business in autonomy and robotics.
And as that business matures and is built out, they'll sort of milk that cash cow in
the ways that you would expect.
So that's kind of how I view things.
When you see days like yesterday, where the stock is losing $70 billion of value
because Elon tweeted something that he wanted to start the America Party,
call me crazy, but I don't think the company is worth $70 billion less than it was last week.
I think the value is actually increasing every day as they scale out their robo-taxi service.
Yeah, there's definitely a lot of progression that's happening here.
Pretty exciting times.
Obviously, there's a lot of noise as well to comb through.
So let's continue to dig in here a little bit.
Ryan, what's your thoughts on everything going on?
I love what Omar said at the end there, which is every single day, the actual value of the
company is increasing and it's increasing at an extremely consistent linear, or I guess over the long term, exponential progression.
We have, like Tesla has operations around the world.
So it's literally the employees are working 24 seven to increase the value of what you own as hard as they can.
And they're super passionate about the mission.
They are working alongside with each other. So they amplify each other.
You know, it's like if somebody, the example I tend to use is if somebody answers an email at 9 p.m. and the other co-worker responds to that email at 930.
coworker responds to that email at 930 and that original sender is able to make progress on that
project the next morning, then that rapid iteration and feedback loop causes them to be able to make
progress way quicker than another company where employees might bounce back emails back and forth
for like two or three days. And then by that time, like the project is kind of slowed out.
It's a little stale.
There may be some loss of information.
There's less passion behind what they're working on.
And that culture just continues and ripples throughout the company.
So really, like when we're investing in any company but
especially in tesla like we're investing in the people we're investing in the leadership
we're investing in them making the best possible decisions every single day and it's really just
a bunch of like millions of micro decisions that they're making nonstop around the world, we're basically betting
that the quality of those decisions
is gonna be really good.
And I think there's really nothing to base it off of
than prior track record.
And typically if somebody has a demonstrated track record
of decades of good decision making,
they're probably gonna continue in the future.
And that's what Elon's demonstrated.
So really this goes to Elon's number one skill,
which is inspiring others.
And when it comes to like the corporate environment,
that means inspiring people to work on the company mission and join the team,
give their all to work on products every day, be willing to burn the 3 a.m. oil.
And that skill goes outside of the company as well because it inspires investors, it inspires others to do their best work
in whatever they're working on to make the future better.
And I think this is really the core
of why I'm a Tesla shareholder
and why I would expect other intelligent people
choose to invest in Tesla as well.
And then there's a couple of other things that Omar brought up that I
thought were really great.
The $7,500 credit is sure.
It may be a short term bump in Tesla deliveries, but over the long run,
the impact is more meaningful, which is that right now there may be an advantage
that Tesla has with producing the best products.
They're far superior in the electric vehicle space.
But when it comes to a $7,500 tax credit that every electric vehicle maker is getting in the u.s like the
relative advantage that tesla has increases as that seventy five hundred dollars goes away
so maybe in the short term there's a bump in in deliveries that's a benefit uh in the longer term
it may seem like there's a you know all that demand was pulled forward so there may be a drop
in latter quarters um but in the in the very long term it's it's a huge plus because
ford and gm and these other auto manufacturers are not able to effectively produce these electric vehicles at a consistent profit.
And I think some of them are no profit at all.
So this is a big plus for Tesla, at least relatively compared to these other electric vehicle companies.
And then the other thing to pay attention to with earnings and with the delivery reports has been Tesla energy.
Like Tesla energy storage is the, I mean, going back to what Elon's talked about previously, like he expects the energy storage business of Tesla to be larger than the vehicle business.
And this is quite an obvious conclusion when looking at the scale of
these industries. Energy demand far exceeds the overall dollars that get used for transportation.
So if they're trying to completely transform the transportation industry and then also transform the energy industry, like energy is going to be bigger if they have the same impact.
And that's what they're doing.
And now Wall Street is kind of waking up to that.
Hence why the stock remains is staying like, quote unquote, afloat.
It's not plummeting a lot.
And it's not really something that I care about so much,
but this is the reason that we have more stability nowadays
than previously.
And it may feel like it's not as stable,
but to have this underlying growing part of the business
that's quite consistent
and has demonstrated good profitability and good prospects for the future, like that's a huge plus that these Wall Street analysts can put into their financial models and say, hey, this is a business
that we expect to be big. The TAM is large and it's consistent and profitable. So like this energy storage
business is also, it's huge in that it has three main use cases, which is it helps make
it so that solar and wind and these other renewable energy solutions are sustainable
because the wind doesn't blow all the time the sun doesn't shine all the time and if you can
like if you can keep the energy in a battery then you really make it so that it's it's feasible
to use consistently and then also you end up like on a larger scale,
you end up being able to dampen the load on the grid. So instead of everybody like demanding
energy all at the same time, turning on their air conditioner, firing on their lights,
turning on their air conditioner, firing on their lights, using all their appliances.
Instead, like maybe let's say half of them use the grid, but then the other half of them have
power walls or power packs or mega packs even, then the load is significantly reduced.
the load is significantly reduced.
So this real impact ends up playing out in the financials.
And when you have like a power wall, you can kind of feel it as a consumer product.
But when it gets to the scale of a power pack or a mega pack,
these are really having a big impact on the energy landscape.
And that will continue to be the case.
It's kind of also like how the semi on the vehicle side is going to have the biggest
impact on transforming the vehicle landscape to be renewably powered because there's just
so many batteries. It's such a power intense vehicle. And these
real impacts translate to dollars. So there's a ton to be excited about with Tesla. To me,
it's primarily the employees, the access to talent that they have, the current talent that they have,
the excellent decision making of the leadership and the rest of the company.
Then there's the Tesla energy business, which is growing rapidly.
It's extremely profitable over the long term.
It's going to be a fantastic, quite consistent exponential.
And then on the vehicle side, you may have bumpy sales.
And then in particular, Q3 may be a big positive.
But really, like Omar said, we have FSD, which is the software layer that gets deployed to the entire fleet.
So really, the number to consider is the actual fleet size, because the fleet size is, like for all intents and purposes, it's the number of vehicles that could be equipped with full self-driving.
Like there are very few, as time goes on, there's fewer and fewer percentage of Tesla vehicles on the road that can be full self-driving.
vehicle Tesla vehicles on the road that can be full self-driving. So if all like let's say
5% or 10% of them globally are equipped with full self-driving right now well
in in the future as the utility increases and you really can just press a button and it's going to
drive everywhere it's going to pick people up It's going to pick people up. It's going to deliver packages.
You can potentially have like a Tesla Optimus bot in the driver's seat and it
can literally deliver Amazon packages. Then at that point,
like you'd be willing to pay much more for the software layer.
And as that adoption rate increases,
it's basically like $99 of pure profit
going to Tesla's balance sheet every single month from a fleet that's growing at some years,
it'll grow at 20%, 30%. So you have the adoption rate increasing from five to 10% to eventually
maybe 50%. Plus you have the fleet size growing from around 7%
or 8 million vehicles to a global feat of eventually hundreds of millions of vehicles.
Plus, you have this $99 per month that could increase to like $499 per month, maybe even
a thousand. So even if you're conservative and you have all those
numbers, when you look at the profitability of what FSD is going to generate, it's like the
numbers just become absolutely insane. So yeah, very excited to be a Tesla shareholder. I don't
mind at all what Elon's talking about. Like I have 100% confidence in his decision making and he's going to do the best for the long term good of the shareholders.
So any of his desires to influence the political landscape doesn't bother me one way or the other. Like even if it was something that I disagreed with, I think like, hey, I trust him enough
to make fantastic decisions at Tesla
and where to allocate his time.
Therefore, like I'm just gonna trust
that he's gonna continue to do that in the future.
Thanks, Wolf.
Appreciate it, Ryan.
Definitely speaking your truth and your heart on this.
It's a very interesting time. I'm loving all the thoughts that we're getting from this panel up here.
Jacob, would you like to jump into the mix?
Yeah, sure.
Yeah, those are some good thoughts, and today seems like a bit of relief for everybody.
I know everyone was exhausted from this past month,
and something I'm really excited about
right now is that Tesla is running a global video contest and the winner is going to get
a brand new Model Y and then the top three submissions are going to get a tour of Gigafactory
Texas which is my dream.
So today I have some friends coming over.
I rented a Tesla and I made sure the owner downloaded fsd on it
and premium connectivity so she's going to get that for free for a month because i'm going to
be using it today and i need it for the video but i'm really excited and i think this contest
comes at a good time to just kind of remind everybody of the magic of the product and uh
so i'm really looking forward to that but i have have a question for Omar or anybody who has the answer to this.
I saw in the big, beautiful bill that the ZEV credits in the United States
are going to be going away.
Tesla makes quite a lot of money on that.
And so I wanted to know if anybody knows
what percentage of the ZEV credits are sold in the United States.
credits are sold in the United States? Well, you know, the answer I think is a little more
complicated than just saying they're going to go away. So, you know, when we talk about credits,
what it really means is governments around the world put limits on how much companies can pollute.
the world put limits on how much companies can pollute. And companies that exceed those limits
have the option of paying a fine or buying credits from a company that didn't pollute enough.
Now, given that none of Tesla's cars have any emissions, they have a ton of credits.
And, you know, I've been investing in Tesla for many years now, almost since the IPO.
And repeatedly, we've heard over the years, the credits are going away, the credits are going away, the credits are going away, they're not going to make any money.
And the amount of money they've made on regulatory credits has only increased, you know, reaching record levels.
has only increased, you know, reaching record levels. So, you know, definitely, I think in
Trump's bill, he does reduce the penalties for not complying with the emissions limit.
I think actually, as a matter of fact, there are no penalties, right? So that could maybe
impact the incentive of companies in the U.S. to buy it.
Of course, we don't know what's necessarily going to happen in two years when there's a new Congress
or in four years when there's a new president.
But right now, most of the credits in the United States actually come from the California ZEV mandate.
So this is actually state level regulation rather than
federal regulation that's really driving it. And California, since the 70s, has been allowed to set
much stricter emissions regulations because of the unique air quality problems they had there with,
you know, so many people driving cars. So in the as California is allowed to set their own rules,
there's still going to be penalties and there will still probably be a market for these credits in
the United States. Now, during the last Trump administration, they tried to revoke California's
ability to set their own rules. Their logic was, look, California is such a big auto market that any
rules that they set, which are often also adopted by other states, essentially become the national
standard because car companies have to comply with that to sell. So Trump tried to take away
their waiver to set their own regulations. They fought it in court. They actually ended up winning
last time and are still able to set their
own rules. There's probably going to be another legal battle about that. So generally, you know,
Trump is more pro fossil fuel. He's less likely to be fining companies for polluting too much.
But, you know, here in the United States, we have a democracy where that type of federal policy can
you know seesaw um you know we have the state regulation and then globally in other markets
like europe and china they very much still have you know strict rules on how much you can pollute
so my expectation would be that we probably you know might see a little bit of a decline in US regulatory credit revenue
this year. But I think overall, you know, over the next three to five years, you'll probably see
regulatory credit revenue actually hit a record high. And you look at what's going the extreme
heat all over the world. You look at some of these extreme weather events, like the tragic flooding in Texas.
And yeah, we need rules on how much car companies are allowed to pollute.
And I don't think that is really going anywhere long term.
As a matter of fact, it's only going to get more strict as the technology allows us to
create cars that don't pollute more cheaply.
Great thoughts there from Jacob. If anyone wants to jump in sooner, feel free to, but
Landon, I'll come over to you for now and then I'll go over to the hand. Go for it.
now and then i'll go over to the hand go for it thanks very much i'm also thinking about tesla
today and the 7 500 federal tax credit and how that's looking to change and i'm also interested
in tesla's new vehicle that they say is in production now is the last guidance that we got on it. So how does the 7,500 tax credit affect
that new subcompact or compact vehicle or low price vehicle? Does it feel like we've been
talking about this new Tesla forever? I mean, it does seem like we've been headed on our menu for coming up next, and it's not here yet, but I think it's in process.
So what if I suggested that they should push it off?
They should delay it.
They should use one of those words.
Maybe this is their plan all along, and it's not even a delay.
But what if I suggested that this model is in production now in Texas, in Giga Austin's facility, and that they shouldn't sell it until October 1st?
Well, maybe this is a little bit much of micromanaging the supply chain, but I think it's worth a conversation.
I'd change, but I think it's worth a conversation. So if the federal EV tax credit does end on
September 30th, as it looks like it will do, then what if they came out with a subcompact
model Tesla this week? A smaller Model Y, a cheaper Model Y, Model Q, Model 2, you've heard
them all. If they came out with that this week, it wouldn't have the $7,500
tax credit. We haven't seen any EPA filings for that, and nor would I expect to. We didn't see
the EPA filing before the Highland Model 3 came out. We didn't see the EPA filing before the Cybertruck was starting deliveries in November of 23. So what does that mean? Well,
it looks like it takes some time. It does take some time. It takes, you know, six weeks,
eight weeks, six months for some vehicles to achieve the EPA approval for the $7,500 credit. So that's not going to happen before September 30th, is it?
So that's my thought on the compact Tesla that might be due out now. It's not going to get the
$7,500 tax credit based on the thinking I just lined out. So why bring it out now?
I just lined out. So why bring it out now? Volume is probably the answer if I'm arguing against
myself. Starting now would start the ramp and get the volume up to profitability sooner. But what if
they waited until October and just pounded these incentives on the best-selling car in the world, the Tesla Model Y, and just sell
those? Well, we don't know how much the cheaper, quotes, Tesla Model might be. People would love
to say it's under $30,000, but that's generally based on it being $35,000 and having the tax credit. So if they release a compact Tesla Model Y variant
that's over $35,000, wouldn't a lot of those people stretch up a little bit,
reach up a little bit to get that best-selling car in the world, the Tesla Model Y? I think so.
So I think this is, I have to admit, some micromanagement, some supply chain
ideas. If they're ready to go with it, they'll probably go with it. But that's my thought on
the Tesla compact model that we could hear more about any day, any minute that is likely in
production now. I sure appreciate the space wolf and letting me speculate on a little bit on
Tesla's next vehicle that we could see anytime, or maybe it's October, or maybe it's the other
post that I threw up in the top there. Elon posting, wow, a prime number with 420 digits,
and it's made of eights and ones. So maybe's not october 1st maybe it's august 1st
thanks for letting me speculate thanks for letting me be here wolf thank you always a pleasure having
you up here on stage love hearing the thoughts love the passion i see we got smoky to bear on
stage what's going on hey what's up bud so om Omar hit it on the nail, and so did Ryan, and honestly, Landon did too.
Like, the noise will go away.
It's temporary.
When you're looking at the actual business model and the fundamentals, dude, Tesla's
never been stronger.
But ultimately, I see this $7,500 tax credit, I see it a little contrarian than most people
I see it killing the competition, because they cannot keep up where Tesla can.
So, yes, it might make cars a little more expensive, but it's going to choke out competition because they will no longer be able to sell anywhere near at a cost-effective rate.
That's all I had.
I'm going to keep it brief.
Appreciate that, Smokey. Thanks for jumping up on stage.
All right, let's go over to Penny and then we'll hit Robert.
Hey, Gav. Hey, everybody.
Not too much to add in terms of Tesla and what's going on right now.
I'm really looking forward to watching RoboTaxi scale.
Looking forward to the next updates from Optimus.
I think this is where all I should be.
The EV tax credit obviously is going to affect their fundamentals, their profitability in the short term, I believe.
But I've never been a short term guy.
I'm always looking years out, not weeks or months out.
And years out is looking as good as ever.
I cannot wait for the next Optimus update.
Every time they come out, I want to dance just how he was in the video.
And RoboTaxi is real now.
I mean, like, seriously, think about that for a minute.
I mean, like, seriously, think about that for a minute.
Robo taxi is real.
RoboTaxi is real.
There's like normies taking robo taxi rides now in Austin paying 420 to get across town.
You know, that's incredible.
And it's only going to scale.
I think that over the coming months, we're going to see new cities.
We're going to see, you know, more and more of these robo taxis appear.
And that's what the real narrative is to me.
That's the real story of Tesla is like the AI, right? They are scaling. And I think another one,
you know, I'll reiterate what Ryan said about energy as well. Like power is literally power.
And the future is so dependent on these battery systems and the solar.
And in America, you know, the game is Tesla.
So I'm super excited to see where that goes over the coming years.
I think that it's still being underestimated.
And I'm looking forward to when they put more and more AI into the energy side as well, right?
I think that there's going to be a lot of fruit to bear there as well.
So, you know, the Tesla thing, I'm also looking forward to actually the new version of Grok
that's coming out tomorrow during a live stream. I think it was Jacob that got a like from Elon on
maybe they'll demo a Tesla integration. So super cool. If we see that, uh, I would love to, you know, the convergence of all
of these different technologies, uh, is just something that I'm really excited about and,
you know, continue to be. So yeah, Optimus really is what I'm waiting for the next Optimus video.
That's sort of the state of mind that I'm in from a Tesla perspective right now.
the state of mind that I'm in from a Tesla perspective right now.
Well, Optimus is a few years away before it gets in our house,
but I have two robots in my driveway and they're Tesla.
I don't see a lot of Waymos in my neighborhood. In fact,
it's not even on my street yet. There's 13 Teslas on my street.
When you start thinking about the fleet advantage, when we start turning on RoboTaxi next year, I think it's going to be a huge one.
And I don't think we've really thought through that much yet.
But good morning.
Nice to be here.
Great to have you on here. Yeah, Robert, I know that you are all in on the robot revolution.
Curious to hear any additional thoughts you have around everything that Elon's been doing
and what we have to look forward to next now that some of the robot taxes have started rolling out.
Elon's going to do what Elon's going to do.
In 2018, when I invested in Tesla, my money manager said,
what if he turns out to be a weirdo that does all sorts of weird shit?
Well, I'm still invested.
He was very prescient with that what if.
Yeah, a lot of good points.
Really interesting stuff all around.
Omar, going to double back to you. We've had a lot of comments kind of across points really interesting stuff all around omar gonna double
back to you we've had a lot of comments kind of across the board and what people are looking
forward to here i'm curious maybe to dig in a little bit more on kind of these integrations
between grok and tesla and just kind of across elon's different companies if you have additional
thoughts there yeah so um i think this is going to be amazing, honestly.
So he did like that tweet.
I expect we're going to see a demo tomorrow.
We did also see some of the UI surface via Green the Only, who's a Tesla hacker.
He picks apart the firmware, and you can check his account for some screenshots of how this is going to work.
You'll be able to use a QR code to pair your X account with your Tesla. And then you'll be able to talk to Grok, ask it questions, presumably control your
car, but also ask it questions about, hey, what's Wolf posting on X? When's his next space about
Tesla? Or, you know, what are people talking about, you know, in politics, whatever you could
ask Grok, it's actually pretty similar interface, you're able to choose the voice, you know, in politics? Whatever you could ask Grok, it's actually a pretty similar interface.
You're able to choose the voice.
You're able to choose between all the different modes.
So your unhinged mode, your assistant mode, your tutor mode.
And I think it's going to be really entertaining.
A good way to pass time in the car when you're on FSD and you can't necessarily use your phone you'll be able to
at least talk to Grok and Grok is definitely very entertaining to talk to with the new advanced
voice mode and I think it's going to be great for XAI too. Grok is going to get a lot of users
because it's going to be the exclusive LLM in the Tesla vehicle and yeah, um, yeah, you know, you kind of think about Knight Rider where the
guy is the self-driving car he talks to. That's going to be us. The cars are already sort of
driving. Now we'll be able to talk to them too. And, um, I think it'll kind of make people feel
even closer to the cars. And a lot of people criticized Elon for starting XAI as a separate
company. They said, well, you know, why didn't you build this within Tesla? And there's, you know,
I think the current structure is actually quite advantageous to both companies. XAI is really at
a stage where they're not a mature company in the sense that Tesla
wants to maintain a quarterly profit.
XAI has no problem burning tons of money, giving ungodly amounts of stock-based comp
to engineers.
I mean, these AI talent wars are just crazy.
If you've been seeing these stories, if you've been seeing what Meta's doing, you know, to
get these top guys and win them over, they need equity, right?
They need some share in the value that this could create.
And, you know, we've seen, obviously they don't publish financials, but we've seen estimates that they're burning absurd amounts of money building out their training and inference clusters.
Now Tesla doesn't have to take any of the risk of spending billions of dollars training an LLM.
They can focus on training their self-driving models and their robotics models where I think the need for those models is much higher right now.
They need to deliver autonomy before we even talk about, you know, sort of the higher level stuff.
But they're able to use a model that they control. You know, our CEO is also CEO of that company.
We don't have to worry about our customer data being sent to them.
I think they'll put the appropriate
protections in place. It's almost like we get all the advantages of having a large model
without actually having to pay to train it. And we can now integrate it into the vehicle.
I imagine this is going to be built into the robo-taxi. The robo-taxi is going to need to
talk to people in all kinds of languages from all over the world.
And if they say, hey, can you actually, you know, take me to this hotel?
Or, oh, can you stop here? I need to get something out of my suitcase I left in the trunk.
It needs to actually be able to understand that and talk to them just like a human would.
So I think this is going to be great for both companies.
I'm excited to see the demo today,
and it sounds like it should be pretty close
to shipping to customer cards,
which is going to be really fun, I think.
Yeah, just continues to get more and more interesting
as they roll through some of these processes.
Ryan, you got some comments on what?
Oh, wait, one more thing I wanted to say. I think there's a
possibility that as XAI matures, it'll be folded together into Tesla. If it can justify itself,
if it can essentially cover its own expenses, or at least is generating some meaningful amount
of revenue that there's a path to profitability there,
then I think it makes sense to combine all their training clusters, all their talent,
the chip-making team at Tesla, the training cluster team at Tesla.
They're already working together closely.
But I do think there's a possibility, and Elon has acknowledged this as well,
that eventually you just merge the two teams together.
Yeah, I think so.
Earlier, Penny was talking about like AI integration with Tesla Energy.
And I think this is one of the most underrated aspects of Tesla Energy, which is that all of the batteries are completely connected together.
Like Drew kind of talked about this once on an earnings call.
Basically, the software enables them to have algorithmic trading of energy.
So they can like immediately just turn on batteries when needed and you like use the appropriate source instantaneously.
So it's extremely cost effective.
And when we're talking about Grok integration with any of Tesla's products or any of Elon's companies, like
AI is going to be integrated in all of these companies.
It's just that Grok happens to be the most generalized.
So it's going to be useful.
And I mean, as they continue to expand the capabilities, it'll be useful everywhere.
useful everywhere. I mean, even like at Neuralink, the third patient, Brad has been using Brock
to help him with daily tasks. The same is probably going to be true elsewhere.
When it comes to like Tesla integration, it's, I mean, really X is the, is the primary integration that makes a lot of sense with XAI because every single user ends up feeding data for Grok to train.
So it's like, I mean, right now, if any of us post and we tag Grok, it has all of this real world conversation context that news to refine and get better.
context that I'm used to refine and get better. It's kind of similar to like how Google search,
like every time you do an incremental search, it improves the overall search functionality.
So Tesla is just another set of users and I could see them integrating it in the longer term,
just like the same thing at Neuralink, X, and any of Elon's other projects.
Like AI is just, it's so early and there's so many different ways that it can help with digital labor tasks.
So right now it's primarily just text, but obviously we've seen a lot of images and more and more video.
A lot of images and more and more video.
Basically, any digital labor task is going to be replaced with AI.
And in the future with robotics, it'll be pretty much any physical labor task as well.
So Tesla's leading the way in the physical side, and XAI will probably lead in the digital side.
It would be pretty remarkable if they end up teaming up together in a formal merging or even an informal partnership.
Yeah, there's a lot of potential definitely for overlap within these areas.
Smokey, you got any thoughts there?
No, I agree with him, man, because like I've got two positions and that's Tesla and it's Palantir because that exact vision is what I see happening
And I don't think we're too far off. I think within the next couple years
We're gonna be we're gonna be there and I'm excited for it
Yeah, me as well continues to make me just think big picture within these areas
robert i want to double back to you having you on the panel and just hear a little bit more
thoughts around you talked about waymo and some of the others just kind of how you view
all the composition and how it's maybe like pushing each other forward versus you know
where where they just kind of interlace i I think it plows the field for Tesla.
I mean, it's not who is first that matters in this world.
iPhone wasn't the first iPhone.
It wasn't the first smartphone.
Nope.
It wasn't even the first iPhone.
Google was the first.
Cisco actually had the trademark.
Yeah, true. That's true. Bob. Cisco actually had the trademark. Yeah, true.
That's true. Bob Ackerman
had the trademark at Cisco.
You know, Google was the
first search engine and whatnot.
I'm interviewing a lot of
Waymo customers to understand
what they like and don't like
about the service, and most of them really
love it. They also tell me they're never going to buy a car again they're never going to take an uber
again and they're never gonna um drive again and i know a guy who's taking it every day for a year
and a half uh to work and he loves the system and he's not alone that tells me that there's a market for robo taxis
right uh even one that uh like ford ceo uh 15 years ago told me oh nobody wants an autonomous
car and that was true if you asked the consumer uh you know do you want an autonomous car? Most people said, fuck no, what are you
talking about? All right. I went around America asking people, would you get in a car without a
steering wheel? And everybody said, fuck no. And now we have Waymo showing that actually there are
people who will get in one. And when they do, they change their belief system about what transportation is.
So when people say, oh, I love to drive, well, I'm in a Silicon Valley freeway right now in the fast lane, and I'm not going fast.
It's stop and go.
Is that really fun to drive there?
and so um waymo is important because it's uh plowing the field and they're gonna try to open
up regulations and it's important to have competition um even though over 10 years i
don't see how waymo competes on experience or price uh for a lot of reasons
yeah they do have their work cut out for them.
That's for sure.
I'd agree with you on that.
Ryan, what's going on?
I'm not sure which Ryan we're talking to,
so I'll jump in.
Sorry, sorry.
Yeah, go for it.
Yeah, no, I'm Ryan as well.
But we have Ryan on stage.
I just don't want to cut off Ryan up here on stage either.
But, you know,
that's a really interesting thought. And it always brings back, Omar's mentioned this before as well,
but Robert, you're saying, you know, I am curious because I've, you know, I put my feelers out there
a few times and I'm like, okay, autonomous vehicles, you know, these robo taxis, stuff,
Waymos, what, you know, would you ride in one? And some people are just instantly, people are
scared of the unknown, right? I feel like we went through the same thing when the airplanes were first becoming
a thing in the 50s, 60s. And people, I'll just ride the train. How many people do you know today
ride a train? Just think about that. I mean, the Amtrak is basically a dying business.
And I'm talking cross country. I'm talking if you're in New York City and you're jumping on
subway or something. I'm talking about traveling from one city to the next.
How many people do you know ride a train? It's a matter of fear of the unknown. And then beyond
that, it's okay. Now everyone's doing it. I'm going to do it as well. And I think it's a matter
of time. Another comment I heard that was really interesting there, Robert, was Waymo, I feel like it's the technology needs to push itself.
And if anything, the two themselves are both pushing forward the regulatory pieces that we need.
There's going to be some type of governments over all this stuff.
So that seems natural that you need multiple players in the market to push it forward, right?
Yeah, I totally agree by the way on the other ryan i have a brain computer interface interface expert on our pioneer on my show at 4 p.m
today so uh right join us okay i'll try to join um, I think that'll be exciting. Like the brain-computer interfaces.
And I think this is really the next wave that's coming after AI, and then while AI is continuing
to mature. But it's going to be brain-computer interfaces and robotics.
I would agree. I think it's going to be symbiotic in relationship.
going to be a symbiotic in relationship. And Robert, I think the saying is,
it doesn't matter if you're first, it matters if you're the last man standing, right?
The better, the more consistent the experience, the better you tend to do. Starbucks was not the
first coffee shop. In fact, I lived in Seattle for three years. There was not the first coffee shop in fact i lived in seattle for three years
there was a lot better coffee in seattle than starbucks but starbucks wiped them all up because
it was consistent it was ubiquitous and i i mean i went to a mall in yokohama japan where there
was three starbucks at one mall right i i look around the freeway here i see a lot of teslas if even 10 of those get put in the
network that's a huge fleet uh that waymo is going to have a tough time uh competing with even if
they make a million cars a year with ford or something like that right robert i i saw a news
story as well maybe uh maybe omar posted it, but I was looking around. It seems
like they're expanding into some more cities. I mean, it seems like it's a matter of time. I think
Tesla's doing it the right way. Gather data, soft launch, very soft launch, and continue to build
from there. But Waymo is almost just like kind of a guinea pig to get things going. And then it seems like Tesla is going to easily.
I mean, think about New York City and the amount of people there, the amount of taxi rides that are there.
I think about that being from the south, being from places where taxis maybe aren't as common.
And I mean, yeah, Uber is pretty common.
But I start to think about New York City, a place like that.
The expansion of this is going to be rapid as it comes.
Yeah.
Yeah.
So, you know, Waymo recently announced some road trips to New York City and Philadelphia,
which I'm really excited for.
When I was in New York City, it was honestly jarring to have to go back to human driven
cars.
You know, you get in someone's car and it like smells really bad
and he's supposed to take you all the way to Brooklyn and you're like, oh my God, should
I just get out of this car? Or you get out of the, you know, you get in the next car,
it just smells like cigarettes and, you know, the guy's a little bit insane. So I'm really
excited for Waymo to come to the city, but it's important to know what they mean by road trip when they talk
about some of these cities like Philadelphia and New York. So they're live in about five cities.
That's Los Angeles, San Francisco, Phoenix, Arizona, Austin, Texas, and Atlanta, Georgia.
And I think Austin, Atlanta, you need an invite.
Phoenix, LA, and San Francisco, anyone can just download the app and ride.
Now, for the road trips, what they're really doing is sending the cars out with the human behind the wheel to start testing the system and seeing how it works in preparation for launching in those markets.
So it's not necessarily a commitment
that they're going to launch in that market anytime soon. I mean, obviously, they probably
do want to launch in those markets, but they're really taking the cars there, having humans behind
the wheel so they can see. And you're not going to hear announcements like this from Tesla because they're already testing in every city in the United States, Canada,
Mexico, Puerto Rico, China, Spain, Italy, you know, the Netherlands.
They have this data coming in in real time every day for years now.
So they don't need to do a road trip.
They just went straight to launching driverless in Austin. And I think that's important context as you hear about these road
trip announcements from Waymo. You can make a lot of announcements if you're announcing testing in
every city one by one. But with Tesla's approach, they're testing in not just five cities but um dozens of
countries let's go to some hands here smoky i saw your hand was up we'll go over to you first
yeah i'll try to keep it brief i'm just uh i'm actually excited to see waymo expanding but
when you're looking at the differences in the models and how the tech works like fsd in itself
could literally be a flip of a switch when they get the warm and fuzzies that's safe
and there's no stopping it where they don't need mapping.
The Waymo system needs mapping, so they have to actually go into a city, map it out. But as Omar just said, we've been training the system for years with 3.6 plus billion miles of driven FSD supervised.
It's already ready.
Like, granted, is it perfect? No.
But it's damn near there.
And they could just flip a switch if they felt comfortable.
And it could be nationwide, even rural,
which is something a lot different than Waymo could ever keep up with.
The other thing about RoboTax is it's going to get people into teslas
and waymo you can't buy and put it in your own driveway and there are even after robo taxis
worldwide people will still want to own their own car for a variety of reasons this lets them
get into a cyber truck and see how cool that is or get into you know a cyber cab
and see how that might make them some money to buy one of those um it the robo taxi as it turns
on around the world is gonna uh encourage people to get in a tes and see how cool it is. And also, it's going to really help sell FSD to everybody because it's going to be clear to everybody, oh, the Teslas are driving around town without a human.
And that's pretty cool.
So when I buy a Tesla, I'm going to buy FSD, which is going to increase the take-up rate, which is going to increase the profitability for sale, which is going to matter because let's say car sales remain flat.
Well, there's a lot of profit to be had if we could increase take-up rate of FSD.
Profit is what matters to investors.
Yeah, that is the big key, right?
I think a lot of people, i'm glad you mentioned that a lot of people
forget to mention the uh the profitability side of this so that obviously a core component uh of any
business model has to have some type of profitability in there even if it's you know future
uh it's still okay where does the revenue come from in all of this r&D. Samuel, what's up, Sam?
What's going on? No, no, I had a few questions. I honestly haven't watched an episode of the Gigacast in a while, haven't been on the Tesla show, but I had a question for Omar.
Omar, what does Tesla's foothold look like in the Middle East or Asia? Like, do they have strong
market share in those countries? And is there even Teslas in Asia and the Middle East?
Well, the three main markets for electric vehicles are really North America, Europe,
and China, China being the biggest one.
So some of these Middle Eastern countries are starting to get more EVs.
They're smaller compared to the other big markets. But for example, Saudi Arabia
is getting the Cybertruck. There's more interest in EVs in these countries. Turkey recently started
becoming a market for Tesla. So there are EVs in these markets, even in Eastern Europe, but it's just getting
started compared to some of the more mature markets.
In terms of Asia, you know, China is definitely sort of the EV powerhouse.
There's enormous EV sales in that country.
It's the world's biggest auto market.
It's the world's biggest auto market.
They're also selling into places like Taiwan, Vietnam, Singapore.
Of course, some of those places have regulations that make the car market pretty small.
But yeah, there are a lot of new markets that they're adding in the Middle East and Asia, in addition to the three main markets that they serve.
Any other follow up questions there, Sam?
No, no, I got I got to think of some.
That was my only question i didn't know
um what like the global footprint of tesla look like but i'll uh where's my hand if i got another
i mean there's a lot of markets that don't have teslas yet particularly in you know south america
africa a lot of other places whereas you whereas most of the legacy car makers kind of
sell all over the world. So I think there is significant opportunity for expansion,
especially as they release more affordable models. That's kind of the limiting factor there.
People, when they sell into markets around the world, they sell products for that market.
Tesla has certain products that they sell all over the world, but they're not necessarily going to be a good fit for every
country. They may be too expensive for many South American countries, for example, or for a lot of
Indian drivers. They recently entered the India market. But as their products get more affordable,
entered the India market. But as their products get more affordable, as you have these lower cost
models, and eventually even cyber cabs, and as the regulation permits, I think you're going to see a
lot of expansion into new markets that they haven't entered yet. BYD has already found a lot
of success in Mexico and South America and Eastern Europe and a lot of markets where you
wouldn't expect there to be a lot of EVs but my parents are traveling through Eastern Europe and
you know they got picked up in a BYD taxi cab so yeah there's a lot of infrastructure being built
charging infrastructure things are getting started already in part thanks to these Chinese EVs that are getting exported all over the world.
Omar, I apologize if you just mentioned it.
I just had to restart my app.
But Cybertruck is set to be the first out-of-U.S. delivery in Saudi Arabia.
Do I have that right?
Yeah.
So that's exciting.
I love the idea of seeing those things out in the dunes
in some of the cities and things like that.
That'll be great to get that started internationally
because I know a lot of people are interested in Cybertruck around the world.
I gotta ask if I can hop in.
Omar, I was on the phone with Sawyer the other day asking him about the robo-taxi.
What was your first experience with it?
Was it surreal or was it just Was it like surreal? Or was it just like, you know, the average ordinary day?
You know, honestly, a little bit of both. Sawyer actually came
over to my Airbnb and we said, Alright, let's go take the
robo taxi ride. And, you know, it was a smooth, perfect ride.
Which, in a way was amazing. Seeing the car do this entire drive without a driver. But
at the same time, it felt very familiar. I see my car do the same thing every day.
So seeing it complete a drive safely, smoothly, and without interventions, I was kind of like,
well, yeah, you know, it doesn't really feel that surprising surprising it's just that there's no one in the driver's
seat whereas normally I'm sitting in the driver's seat but I don't touch anything
so I think it kind of feels like a natural natural evolution I think if you haven't used
Tesla FSD you're going to be stunned at how human like it is it's really like a professional chauffeur. But if you're an FSD supervised user
with AI4, it's going to feel very familiar to you. It's just an evolution of really what we have in
our cars. And they're actually now working to take that new model that they're running in Austin
and bring it to the broader fleet so we can all run know, the millions of Tesla cars that are owned by customers here in the United States.
I was showing my parents the video.
I think it might have been Sawyer.
And they, like, didn't even know that, like, this was even close.
Do you think there's a lot of people that don't even know about FSD?
Especially as you get into, like, the older generations.
Like, not calling anybody old, but, like, anybody between, like, the age of, like like 40 and 70, do you think there are people that still don't even know about like
FSD and stuff like that? Absolutely. I mean, you know, it's only really in the last six months
that FSD started working around November, December, they put out FSD 13. And that was the first version of FSD that
was really ready for the mass market for your mainstream consumer. The first one you'd want to
put your mom in and, you know, she knows how to use it. Right. So not a lot of people know about
it. I mean, it's crazy. I'm driving around just nightmarish LA traffic where it's like a war
zone out there. And my car is just handling it all so smoothly while I'm listening to music
and like singing and dancing and having a great time. And everyone else is like at war trying to
get onto the freeway exit in LA. And I look at some of the other Tesla drivers and they're driving manually.
I'm like, what the hell? You have a car that runs FSD. How are you not using it?
They haven't made it a marketing success yet. Like they have a product here that is
a life changer. It will literally change your life. And you know, I have, I'm starting to have
relatives come up to me at parties and say, Oh my God, I started using the FSD. Thank God I drive
so much for work. This has been a game changer for me. You're starting to see, you know, friends do
it. Even friends who were not so long ago, very mad at Elon politically now saying, Oh my God,
this has completely changed my commute. Um commute as I've gotten to Tesla.
And Tesla actually did the first autonomous delivery. They had a car made at the factory,
just drive off the factory lot on its own without a driver, without a safety monitor,
go on the highway, drive on city streets, and just show up at the guy's house and deliver itself to his house. And me and Sawyer interviewed this guy on Spaces that night.
And he said, you know, I didn't even know that much about FSD.
I didn't even buy it.
I just bought the thing because my dad has a Tesla and he loves not buying gas.
So I said, okay, let me get one too.
When I saw the FSD option, I said, oh, I don't need that.
But once I saw it show up to my house
without a driver, I said, okay, I think I'm going to subscribe. I think this might be an option that
is actually good to have on my car. But, you know, it really just shows your average customer,
even one who happened to have the first autonomously delivered Tesla, didn't even know about FSD or what it was or what it was capable of.
He's definitely using it now.
And that's kind of an awakening that I think is going to start happening.
And Tesla seems to be kind of pushing it harder.
to be kind of pushing it harder.
They featured this autonomous delivery video on their website.
They featured this autonomous delivery video
on their website.
But they need to find a way to get this message
to the average American consumer that,
hey, you don't have to drive anymore.
First off, Sam, the fact that you call 40-year-old people old
is pretty sad.
I feel like we should defend some of our panelists
and audience members out here on that sam young one here but uh i'm 60 yeah yeah come on you don't offend our
panel samuel goodness gracious now sam great young kid of course but uh to the point that sam made
and what omar was just going through there i had the same experience i went home uh the past week
week and a half and my parents didn't know that Teslas
are out there driving themselves. You know, they see them in town. They're like, okay, that's,
you know, that's cool, whatever. You know, I heard it can kind of drive itself a little bit.
They didn't even know that you could, they thought it was like just on the interstate.
And so I started showing them some of the videos that Omar and Sawyer and others have uploaded.
And, you know, they were just mind blown.. They weren't surprised that we had that technology.
They were just surprised that it was already available to the public.
That was the mind-blowing moment for them.
We did run over a little bit on the Tesla combo here.
It was a great combo.
We had to keep it going.
We're going to move into a little bit different combo.
But let's wrap up.
I want to hit the panel and see if we just have any closing thoughts from anybody something that was mentioned throughout the space that you want to
leave with the people today comment on or uh anything that you're looking forward to uh
smoky let's start with you down there and then we'll work our way around
hey uh it's nice to come up here and speak with you guys uh the community is great ignore the
noise the fundamentals are there and they're just going to grow exponentially.
But yeah, have a good one.
Keep holding.
Not financial advice.
Not financial advice, but keep holding.
Keep holding.
Tesla having a good day.
Every time we run this space, we usually move a little bit upward.
And here we are.
We're hanging in here pretty solid.
Just over 300 to share.
Appreciate you joining Smokey.
Landon, let's go over your direction.
Landon, I missed part of you today. And so I have a little bit of a hole in me. So give me a give me a minute or so here of your.
Wolf, I miss part of you every day. We all have a hole in our heart when we miss.
You know, I think it's really important. We're always looking ahead with Tesla.
Are we not? The future, the future should look like the future.
And I love it.
I'm here for it.
But I'm reminded by my Buddhism, in addition to compassion and understanding, we've got
to live in the moment.
And the moment is awesome.
We've got a robo-taxi service live in Austin right now.
And it's moved out beyond just our favorite friends and influencers
here on X. They're giving access to some just kind of random people in Austin, don't own a Tesla,
maybe don't invest in Tesla, and they're in the RoboTaxi early access invite program.
We've got the new car coming up that's a compact. We talked about
that earlier. And we've got a Model S and X refresh that is being kind of a nice surprise.
When they told us, oh, you've got a new paint color and new bumpers was kind of the consensus
a few months ago. Now we're seeing that it really is a transformed car and it's
better in a lot of ways. We've got exciting things like Roboven in the future, but back here in the
present, I'm talking to friends and I'm really seeing this 13.2.9 is resonating with people.
They're using it, those percentages that you can see in the app if you
have Tesla insurance. Everybody in the friends group is telling me, yeah, we're using this more
and more and more, and they finally seem comfortable. This seems like if the world
stopped today and we could only drive 13.2.9, a lot of people would be pretty okay with it.
So that's the present that we live in,
the present that we own when we invest in a company like Tesla. Thanks, Wolf.
Follow-up, Landon. SpaceX, what's going on with SpaceX right now? Anything interesting going on
over there? Ooh, I'd love to hear from some other panelists on that. But after the Massey Starship RUD, the rapid unscheduled…
That is the best term in all of technology, all of company, whatever you want to say, the entire world, basically.
That's the best term. Rapid unscheduled…
What is it?
Disassembly?
Disassembly, there it is, yeah.
I don't know if that's it, I don't remember, but that one popped into my head.
Yeah, but that's just a great attitude, right?
And that's the attitude that Elon installs in his companies.
It's not that, oh, we failed, Elon, we got to try again.
It's, hey, we failed, and here's what we learned from it, here's what we're doing.
And you asked about SpaceX, so we're looking for the next Starship launch, perhaps this month. But that destruction at Massey, the test fire, should have set the program back, according to the quote-unquote experts a month, you know, three months. They got to rebuild everything.
But no, look at SpaceX. They're already designing a new test fire ring of some sort. I'm out of my
depth here. But they transfer that to the pad, and it looks like they're going to move ahead
with a different way to test and test fire those engines and not wait until Massey's all rebuilt.
So Starship, yeah, let's go, baby.
Let's get to orbit.
Hey, really quick, I just want to add on to that.
Some of the best innovations come from failure.
So the way that Landon just placed that, it was beautiful.
Because that is what's going to drive innovation and drive change.
I love it, dude.
Absolutely. Great additional commentary from Smokey,
and of course, Landon, always great having you
on our Tesla Tuesday space.
Ryan, anything from you to close us out today?
Yeah, I guess I wanted to reframe
like this whole opportunity to be able to invest in Tesla.
Like there are so many people that ask me this whole opportunity to be able to invest in Tesla.
Like there are so many people that ask me about investing in Neuralink and, you know,
similarly people are dying to invest in SpaceX or X or XAI
and reasonably so like, you know,
and has a tremendous track record and these,
the prospects of these businesses are great.
Similarly, like that's the case at Tesla.
I think like obviously of all the businesses, Tesla is the most mature.
So there's a lot more.
It's easier to understand like the longer term trajectory and how they're going to get there.
and how they're going to get there. But like we have an opportunity to invest in, and it's
publicly available to invest in the world's greatest entrepreneur, maybe in like all of
human history. I mean, at least as long as I've been alive, like he's by far the best.
In my personal opinion, I think Jeff Bezos might be second but you know it's like whether it's
steve jobs or the larry page or jeff uh jeff bezos like being able to invest in any of these guys is
a remarkable privilege and opportunity so i think we we we should not take that for granted and recognize that, hey, like Tesla's public,
you can kind of just bet on the horse and be like, well, yeah, over the long run, Elon's
going to cause Tesla to be worth way more than it is today.
So you can almost close your eyes and just be like, well, okay, yeah, I'm going to cause Tesla to be worth way more than it is today. So you can almost close your eyes and just be like, well, okay.
Yeah. I'm going to bet on Elon. Like,
it doesn't really matter what the price is. You know,
not every company is like that, but I think right now,
Tesla is pretty cheap relative to what they could be in the future.
And then I guess also as a side, you asked about SpaceX,
I have to bring up Neuralink like like neural link did an update a couple weeks ago they announced tremendous progress with
all aspects of their implant and their surgical robot their chip design they've implanted in seven
patients they've started in my or they started in phoenix but now they've also started in miami and they're going
to continue in canada and toronto um in the uk and uae and abu dhabi so they're expanding globally
and more and more people are going to be getting these brain implants to help with their neurological disorders. And eventually, able-bodied people
will also be getting these implants.
And they're gonna be commonplace,
especially as this AI revolution really takes hold.
So a pretty exciting feature.
If you can't invest in Neuralink,
but you're wanting to get exposure to Elon,
wanting to get exposure to Elon, then Tesla is the play.
then Tesla is the play.
All right, quick 20-second follow-up on that, Ryan.
What are the odds that Elon already has a Neuralink implanted?
You don't have to answer that.
That's a rhetorical question just for fun.
Yeah, I want to answer in a funny way, but okay.
Yeah, maybe.
Great, great.
That is the perfect time to waffle and not really answer, but kind of answer.
Perfect.
Well handled there, Ryan.
I knew you could take that.
Just a funny little comment question there.
question there. Robert, any last things from you today?
Robert, any last things from you today?
No, you know, FSD is driving me at 79 miles an hour without my hands on the steering wheel. It's
smoother than any human can drive. So when people do get experience with FSD, I think they're going
to be convinced and that's going to increase take-up rates and increase robo-taxi sales.
and that's going to increase take-up rates and increase robo-taxi sales.
All of that is good for us as Tesla fans and investors.
Robert, what do you think your next upgrade is?
Will you get hardware four?
Do you have your eye on a Model Y?
Are you going to get that $7,500 tax credit before it expires?
I'm never giving up my old Model 3.
It has a leather steering wheel.
They only made leather steering wheels in 2018
for a few months.
It has Elon Musk's blood,
sweat, and tears on this car. It almost bankrupted
the company. I love it so
much. We have a new
Model Y, so I know what Hardware 4
does too. It is better,
particularly in parking lots.
Hopefully I get a computer update soon
um so we can get the new models that are coming soon a lot of things coming over the next few
months a year i think the yeah you know i'm a long-term investor. I don't care about what happened in the market
today or yesterday or tomorrow. It's all entertainment to me. The potential of Optimus,
for instance, is so immense that, you know, when that finally does get here, and even if it took seven years, I'm staying in for at least 10. So I'm going to see the benefits of that investment in my investment, right? When it finally does arrive at scale, it's going to change the world. That's what I'm investing in.
That's what I'm investing in.
Well said, Robert.
Thanks for joining us today as well.
Look forward to having you on future spaces.
Omar, final Tesla comment over to you.
You always have a great one-liner or one phrase to send us out on.
Look, if you look at the top of this space, slide over one video,
you'll see a video that I just posted.
In this video, I'm sitting in a Tesla in downtown Manhattan in a parking garage,
and I push a button, and the car drives me from downtown Manhattan to midtown in the rain,
and then parks without any human intervention.
Now, this isn't even the latest AI model that's
running on the RoboTaxi. This is the model from last year in November. It's able to handle some
of the most challenging driving environments in the world. People cutting in, buses merging in,
with bad weather, and it handles it all naturally. This is a technology that I think is going to
change the world. And what Tesla has here, it's just unlike anything else. They don't need to
map out the city. They don't need a special car with all these sensors sticking out. This was
just an ordinary test drive car from Tesla that they lent me for a 48 hour
demo drive. So I want you to imagine that right before chat GPT came out, Sam Altman was tweeting
some crazy shit. Okay. Would you not want to have equity in open AI? If one month before the iPhone came out,
or even one month after the iPhone came out,
Steve Jobs was tweeting some crazy shit,
and you know he would have tweeted crazy shit
if they had had Twitter back then.
Would you not want to invest in the iPhone?
The point I'm trying to make here is
it's the product that matters ultimately.
That's what you're buying as an investor.
And I think they have a really exceptional product here.
So just watch the video.
Just watch it and think about it.
And that is really the product
that they're putting
out into the world it's going to save people from getting killed from being
injured and it's going to change the way that we move around our cities and move
around our worlds and that's why I'm a Tesla investor
it'll let us do more audio spaces while our car is driving too
absolutely well said definitely check out that video up there in the nest there's a lot of great
things up there in the nest if you go up top scroll over check out all those different posts
definitely check out all these different speakers as well we have this space each tuesday at noon
eastern time here on Wolf Financial.
There's also a myriad of other great Tesla spaces on this app.
If you're curious about Tesla, if you're a Tesla avid fan,
wherever you are at in the spectrum,
there's some really great information shared on all of these as well.
Omar, I'm going to ask one selfish question before I let you go.
I'm going to New York for the first time.
Thursday I fly out.
Sam will be there with me.
I want to, how do I call a Tesla?
If I want to, you know, Uber and I want it to be a Tesla, is there a certain way?
That's really one of my main things.
I want to make sure I get in a Tesla and ride around.
Yeah, good question. You can use the Uber comfort electric option,
or you can use a service called Revel,
which is an entirely Tesla-based rideshare service in New York City.
Right, yeah.
Somebody had mentioned that Revel thing to me
and said when you land at the airport, you can check that app.
But I didn't know if there was a way in Uber,
so you answered that question perfectly.
Thank you so much, Omar, for co-hosting the space as always smoky hey wolf fyi you can
probably check out the actual app too and see if you can actually demo drive it for 48 hours that
might be an option too bro you don't want to have a car in new york city trust me it's more headache
than it's worth and you can't actually take it anywhere because it's
not that easy to park i mean it's not the worst thing in the world if you want to try it but
manhattan or new york city in general is probably better experienced without a car
true but it'd be a great place to test it if you've got any questions on it
yeah i kind of got one just to try out FSD and make some videos of that.
Definitely going to put that on my radar.
Thanks for the thought there.
Actually, I may make Sam do it.
I'll just tell Sam, hey, let's you drive around and get us a Tesla up there.
Either way, big shout out to the whole Tesla crew.
Thanks, everyone, for joining on that side of things today.
We are going to spend the next half hour or so just doing some market talk, talking a little crypto,
talking a little markets in general,
what's going on here.
I mean, we got all time highs in sight,
everything else going on.
Boy in the world right now, it seems like, you know,
we get through Middle East headlines
and now we have more tariff headlines coming back.
Obviously it sounds like the debt ceiling went up and the money printer is just going to keep printing and keep printing and keep printing, which is, I think, bullish for stocks.
Obviously, the value of those is going to keep going up because the amount of money supply just seems to keep going up.
But obviously, we're going to talk about some of the crypto pieces of this as well.
Bitcoin and some of the other things going on there.
I've got some smart people up here on stage uh sam do you finally admit that your bitcoin thesis was wrong
what was wrong about it no you just weren't very bullish on it and it seems to be we went to seven
we went to 70k when i was not bullish on it and then i was bullish on it again after it got back over 80 and here we are
at all-time high so and then since we made the all-time high i also was i don't know look my man
bad price is sitting up here me and bad price have been on a pretty similar wavelength and actually
i want to throw it over bad price welcome to the stage thanks for hanging out with us for a little
bit when we were talking tesla there um i kind of want to just kick it off here. Let's talk some market sentiment thoughts a little bit.
I know the Austin Accounts joining up. We'll see if Flo joins up here in a second with us as well.
But I'm very interested, Price, what are your thoughts right now? I mean, yeah, we made a new
all-time high. We've been hanging out consolidating. The dip's getting bought. Money's getting printed.
I mean, where are we at where how are you trading right now yeah um first thanks for having me what's up what's up everyone um overall pretty bored
in crypto to tell you the truth just kind of been uh you know hanging out around these all-time highs just kind of chopping sideways
uh not a whole lot going on um i mean if you're a scalper you know there's been some decent scalps
here and there but you know if you're a swing trader you're just kind of sitting on your hands
waiting uh for the setup you know wait for the setup to come to you, right?
One thing I will say about price action right here is when I look at, like when I look at
momentum, like say Marcus Cypher B momentum wave, let's say I'm looking at like the weekly
or two week down. So two week, weekly, three day,
two day daily, you know, those kinds of timeframes. We see that momentum is kind of like,
you know, putting in lower highs. But price continues to just kind of be range bound and
chop sideways. So more times than not, that's not a bad thing.
You know, I would have expected to see price moving lower when I look at like across my indicators.
You know, like I was kind of expecting, I mean, we saw the 105 area kind of get tested.
I got a strong weekly support level around like 1046 to 1048, let's call it.
I was really expecting to see at least that get tested, if not like a wick below.
But we haven't seen that. We've seen you know more consolidation uh so overall it's holding up holding up pretty well um and actually i've been trading more
i've been trading more equities lately than crypto just because, again, there's not a lot going on right now with crypto as far as like volatility.
So, yeah, I've been mostly trading the equity market, which, you know, I was originally like an options trader.
That's kind of the world I came from.
I have been in crypto for a very long time now, but options was where I really, you know, cut my teeth.
So, yeah, I've been mostly just focusing on that as far as trading goes lately.
With traditional markets, I was kind of expecting a bit of a pullback.
I felt like we were kind of overheated.
I felt like we were kind of overheated.
We're seeing a little bit of a pullback here.
I went in and got some insurance on Netflix.
Netflix has had a hell of a run.
I had a bunch of calls that I've been playing on it throughout the past year or so.
And I actually did a tweet on it a few days ago.
It was like, look, if you've been in Netflix, especially if you're holding, you might want to look to hedge here.
I wouldn't say just go out and straight start shorting it, you know, but you might want to get some insurance going and get some puts if you're
long on it or if you hold shares or something it seemed like a really good spot to hedge so i went
in and did that and um slightly up on those so you know that uh makes up for any kind of drawdown I would have experienced. Let's see, what else?
Robin Hood, I've played a lot of Hood.
As a matter of fact, usually every year I pick
at least one to two positions
to take up a core position on
to take up a core position on that I plan on holding for at least a year, you know?
that I plan on holding for at least a year.
And yeah, Hood was the one I played last.
And I loaded up on Hood around anywhere between like $18 to like $25 or something.
Like my average entry, I think is probably around like 22.
Like my average entry, I think, is probably around like $22.
So I loaded up on shares and, you know, then went in and I, you know, trade around my position.
So I'll sell like, you know, cover calls and puts and I'll do different spreads.
But I did not expect hood to perform the way it did.
Like I thought it would do pretty well right like i
figured okay i might sell this thing for you know 50 or something like that um but man it's just
it did you know way better than i expected um as a matter of fact what is it at right now
okay yeah we're around it's it's seen a little bit of a pullback
um the consolidation on is pretty nice actually right here but yeah i mean it's around what 90
it's at 91 and we did get up to uh an all-time high of 100 we slightly broke 100 um so you know that's just done great for me um other than that man yeah i'm just chilling
as far as crypto goes you know just kind of sitting on my hands waiting uh it seems like
where we're at right there you know it's like these all-time highs pretty much across the board
i mean indices at all-time highs uh Bitcoin obviously up here basically at all time highs, and then several of the main names that I watch
or trade or own, there's not a whole lot to do right now.
Yeah, not a whole lot to do.
If you're, you know, I'm big on hedging.
So if you have open positions,
that's probably what you've been focusing on the most lately
is uh hedging against your open positions yeah um absolutely yeah not too much to do yeah that
that hedging that's a great point that you brought up there and and you know one way that you know
i kind of trade around my my spot bags for the crypto people, my equity, you know, holdings, shares and stuff that I have,
you know, in my, in my normal brokerage account is I just, I hedge by, you know,
buying a little bit of short dated puts, you know, in case we do pull back a little bit,
you can always sell calls, things like that as well. Flo, I want to bring you into the
conversation here a little bit. Welcome to the stage. Great to always chat with you.
For those that don't know, Flo is part of the Ostium team. bit. Welcome to the stage. Great to always chat with you. For those that don't know,
Flo is part of the Ostium team.
Big shout out to Ostium.
You can trade so many different things
on chain with Ostium.
I pinned a couple things up here up top.
If you haven't heard of Ostium,
you've got to go in and check it out.
But Flo is not only a part of the Ostium team.
He's a fantastic trader, a great market mind.
So fits perfectly in these type of conversations here.
Flo, I want to ask you, what are you doing up here at all-time highs?
What's kind of your take around the market right now?
Are you kind of maybe getting a little degen, maybe leverage straight some shorts here and there,
and then pull them back off and just let the spot bags keep counting?
What are we doing?
Hey, guys.
Yeah, thanks for having me on.
Pretty much, I agree with a lot of what Bad Price was saying.
Things are, I mean, especially if you're looking at indices right now, you know, kind of a little bit boring at the top.
There's a lot of dispersion.
All the action is in single stocks.
So, you know, there's a lot of volatility in Tesla today, for example.
I mean, I think you guys were just talking about that earlier, you know, before in like the previous segment.
And, you know, just as a reminder, you can trade Tesla with up to 100x leverage on Ostium.
But yeah, so I mean, it's all the action is just in single stocks.
Like if you can be a stock picker, there is things to, you know, there is things to find, things to trade in this market.
What I'm kind of like looking at really, though, is currencies.
So obviously the dollar just completely, you know, dumping recently, but, you know, experiencing just a small, you know, kind of, I would say probably dead cat bounce.
you know, kind of, I would say probably dead cat bounce.
I'm still looking for foreign, like foreign currencies to strengthen against the dollar
in the long term, you know, potentially in a longer term trend, even over the next couple
of years, to be honest.
So, you know, probably short, you know, for example, things like USDJPY, like on POPs,
just like, again, you know, not financial advice advice but the main other thing i'm looking at
not necessarily trading but just kind of like is is kind of like really uh grabbing my attention
is the long end in rates uh so like you know 10 year 20 year 30 year uh just rates like you know
they're essentially you know just best way to put it is ripping, right? You know, back towards, um, you know, the 30 year,
for example, going back towards that five, uh, 5% level. So it's just like, uh, I think that
that's just something to watch here. Um, things get kind of sketchy here around these levels,
usually. So something to just pay attention to, um, you conditions, it seems like things could go higher across the
board in the medium term, but I don't know. There are things to pay attention to that are
giving me some alarm bells that make me want to hedge my position, especially with, in my opinion,
vols a little bit underpriced here. That's what I'm looking to do.
I'm more of a seller, more of a hedger at this point.
I'm not adding to any longs.
Yeah, that's pretty much where I'm at.
Yeah, that makes perfect sense, right?
Go ahead, Bryce.
I was going to say that USD JPY looks pretty juicy.
It's right around here.
It's been consolidating nicely.
You know, right now it seems like it's moving kind of towards the top of its consolidation range.
But the setup does look pretty good.
I was also looking at CAD JPY as well. I might have to jump on Ostium and
leverage up on one of these.
Yeah, real fast, Flo, just for the audience down here, maybe if they're new to Ostium,
will you just give us a quick rundown? We'll keep going with the market talk here, but
just a quick rundown. All the different things that are tradable on Ostium, right? One
spot, one account. Yeah. So we are looking to add a lot more assets here very soon. So this is not
like an exhaustive list, but I mean, we have everything, you know, obviously just BTC, ETH, SOL, stock indices, just US indices, the normal, ES, SPX, NQ, the FTSE, so UK markets, the DAX, the Nikkei.
You know, we have FX, you know, so Euro pairs, the GBP.
Someone mentioned that Canadian, I think Beth Price mentioned the Canadian dollar, USD, JPY.
And then the most recent thing that we added recently is stocks.
So we currently have MAG7 stocks.
So everything from Apple, Amazon, Google, Meta, Microsoft, NVIDIA, Tesla.
But also, again, with a lot more being added soon, hopefully within the next couple of weeks, we'll announce those names, like what stocks are writing soon, and then also commodities.
So like oil, copper, silver, gold.
And I believe the next thing we're adding on that end is platinum and palladium.
and palladium so uh again we're going to be adding a lot more assets soon um more asset classes even
here in the next uh in the coming months so you know stay tuned for that and at this point you
know there there really is no other place where you can trade like this much this many uh different
you know types of assets um on chain so you know we're essentially trying to build out crypto's macro trading app.
And that's kind of like the direction we're going with all these like listings and what we're
building. Yeah, absolutely. Flo, appreciate that quick rundown here. Just, you know, maybe some
people out there in the audience haven't been on our space with you guys before, but it's such an
incredible way to get access to so many different things.
And looking at today, the SPY, the S&P is read by 0.04%, QQQ, the NASDAQ, 0.09% in the positive,
not even moving. But then I look and I see oil is up a percent, gold is down a percent. There's a
lot of other things. Obviously, we know Tesla was moving today. There's opportunities all over the place.
And to be able to, you know, I mean, they have those in one spot.
Very interesting.
ETH is going.
Is ETH back?
Somebody up here on the panel that knows more about ETH.
We're so back.
Is it so back?
We're so back.
There are legitimately treasury companies that are dumping all of their BTC and going all in ETH.
treasury companies that are dumping all of their BTC and going all in ETH. It's being talked about
by like Tom Lee, Fundstrat, you know, on like CMDC and other like news programs about, you know,
about how the future of, you know, financial infrastructure will be built on and assets
will be stored on ETH. So the narrative is actually picking up. I mean, narratives
just in crypto specifically, I mean, to be honest with you, at this point in stocks as well, you know, look at GameStop, look at kind of like the short squeeze kind of like era, you know, just I think everything moves on narratives at this point.
But yeah, it's when if you like.
So, hey, can you hear me? me yeah you're back i was gonna say you just cut out just at the end of your statement there sorry man yeah got distracted completely lost lost my place here
for a second while i while i kind of like there so sorry about that yeah all good uh tropic let
me bring you into the conversation next we'll hit some of the rest of the panel here. Tropic, let me ask you, you're very connected in a lot of this DeFi side of the world. What's all going on over here? Bitcoin just kind of hanging out. Ethereum, like Flo just mentioned, I see Tom Lee mentioning it on national news. I see a lot of people starting what's going on tropic
what is east back what else is new the genius act has gone through we've seen a lot of these
like coinbase and circle and some of these things go crazy what's your take on the market right now
yeah so it's kind of interesting i have an interesting take on things as far as
you know how most people typically when they speak about bitcoin it's
just like store it forever whatever it is but most of the time when it comes to the bitcoin side i'm
more on like uh uh looking at as a currency basically you know us dollar yen euro bitcoin
that's how i mostly look at it and so as far as trading bitcoin i don't really trade bitcoin that
much um actually i don't trade Bitcoin.
I use it and utilize it and onboard people with it. But as far as ETH now, ETH is definitely I put in a completely different category than Bitcoin.
I have Bitcoin standing as its own.
But with ETH, I find really interesting is a lot of ISO talks, which is like just a whole bunch of compliance stuff is coming around that bitcoin is
not included in that conversation and eth is so i think that's why a lot of the attention i'm not
going to get too technical on it because you know no one really needs to care about that but there's
a whole bunch of iso compliant coins that are uh getting a lot of attention so i'd love to throw it
out there as far as what anyone thinks about, you know, where that's going.
Because supposedly, big rumors thrown around right now that even July 14th is like a big day for like FedNow and Federal Reserve
jumping on this technology and all this crazy stuff, which I'm critical of personally.
I'm critical of personally, but if they're using the technology, I know that adoption is going to just really spark up much more.
So I just throw that out there if anyone's like thinking of it.
But any of the tokens that are ISO compliant and banks are looking at it and so forth, it's getting ready to move as far as for a trading perspective.
But again, Bitcoin near and dear to my heart and a completely different character or category flo did we get you back up here
throwing me halfway lagged out um no it's really interesting traffic uh because when i look at this
and i'm trying to learn a little
bit here still. Obviously, I can talk Bitcoin all day. I've learned a lot about Bitcoin.
I understand a little bit into the ETH and soul, but that's about as far as I get. But I'm seeing
all this. And I mean, I can look at what other, I just put other smart people around me. And I
ask people like this on Spaces, ask questions, and I see Coinbase going absolutely crazy because people are projecting all these revenues with all the stablecoin stuff going on.
And it just seems like – Tropic, are we still early?
I mean maybe not in the Bitcoin side of things, which you can make that argument too, I guess.
But when it comes to stablecoins, are we super early?
Is this like – is there something I'm missing here?
Is this about to blow up?
Yeah, I still think we're early, even on Bitcoin, to be honest. And what I'm using to gauge that,
like, yes, if I talk to the average person in the States or whatever it is, they're talking about
putting their retirement in Bitcoin and so forth. But as many of you know, I live in Jamaica. And
when I say we're early, it's until I walk down the street and I just know every single person I speak to, I can have a conversation with Bitcoin until that happens. I'm going to say we're still early because, you know, Jamaica is not some backwards country that as you know where bitcoin is and everything that's
not in the the uh natural conversation of the majority of people so going back to your uh
other question about um like the various stable coins and so forth again if you're in the states
you're probably thinking all right that's just an unnecessary thing that's no different than using
cash app or whatever it might be but here here's the thing. In the majority of countries around the world, there is no cash app. There is
no easy way to quickly move funds from one place to the other. And that's where that comes in. So
as far as this technology, yes, we're still early. But going back to, you know, like the whole
platform and like trading and what have you, I think that's what makes kind of this really
interesting. Because earlier I said I have Bitcoin in a completely different category,
but what makes ETH kind of interesting is it allows people to build things on it that I see
ETH really as like the world's supercomputer. And if you look at the banner that I have on my profile,
you'll see that I have it next to Windows and Python, right? That's how I see ETH.
And once financialization happens on it,
people build really cool fintech on it.
I think that's what makes it interesting
as opposed to necessarily just pure speculation.
Yeah, super interesting flow.
Sorry, I know we had a little connection delay right there,
but it got you back up here.
I have some great points that I know you would like to comment on.
Yeah, I totally agree, actually. By the way, I'm so back. ETH is also so back. But yeah,
even if you listen to Lead10EV, you listen to other people when they talk about where they're
actually building their financial applications, the answer is ETH. I mean, at ETHTC, which was
last month into this month,
you know, they had their big announcement and they're building through an orbit chain with
Arbitrum, which is an Ethereum L2. So whether it's on the ETH base layer, which has like in
the highest form, highest like level of security, or people building on ETH L2s, which basically
borrow that security and are able to offer like
you know in many cases better but you know in faster cheaper execution um you know everyone
is building on ethereum and that trend isn't likely to stop um i know that solana has actually
gotten some serious attention um and builders from d5 recently within the last couple of years. But there's a lot of gap and a big, yeah,
there'd be a big gap for them to kind of like cross
in order to catch up with ETH at this point.
Jump in, Tropic.
Yeah, sorry, I have to use the hands because my screen completely froze,
so I can't see any of the speakers or anything.
But yeah, I was going to say on that note with Solana, right?
I think Solana absolutely ruined the chain with the meme coin thing.
That's what made all the money.
But now if you talk to any serious business, any serious person, they're not thinking of, oh, consumer chains and using it to build fintech apps.
No, they're thinking of, oh, isn't that the meme coin chain?
Nah, I'm not so keen on that one.
But, you know, so in that regards, I don't think they're coming back in that end.
But what Flo just said was one of the interesting things, you know,
talking about building fintech apps, because even Ostium, right,
that's running on EVM, right?
Again, not going to all the technicals, but that's a bullish sign for ETH as a whole because you can build something like that sitting on top of it.
And then the users are not able to have to be the nerdiest crypto person to figure out all this tech, which I love doing.
But let's be honest, 99% of people don't.
They'll never do that, right? So if you're able to build that on an EVM chain, that's also
using the whole stack, it's just bullish on the whole ecosystem. And I think that's just
really great going forward because the vast majority of people I would imagine that are
going to use Ostium or any of these platforms being built. They're not tech nerds, right?
They're looking at what they can do, how they can trade, how they can use this technology.
And it just so happens to be running on the blockchain in the background.
Yeah, the goal is to abstract all that stuff away and have just like the financial, you know,
application be upfront, you know, have apps that are as easy to use as Robinhood. And, you know,
we're moving in that direction as well, you know, working apps that are as easy to use as Robinhood. And, you know, we're moving in that direction as well,
you know, working on new designs for, you know,
like iOS, Android apps that are, you know, similar,
but have their own obviously like twist.
You know, there is some certain things
you have to accommodate being on-chain,
but at the same time,
having an onboarding, onboarding process
that's, you know, actually even better
than these platforms is what's going to set on-chain applications apart.
So, I mean, if you can still move money faster
on and off the application,
if you can decrease the cost of execution over time,
I think that essentially all of these applications
are moving on-chain.
Again, Vlad Tenev, the founder of Robinhood,
CEO of Robinhood, has talked about that, like all business like all financial applications going on chain
eventually so if you all have a bullish bet you know not to you know still ethereum too hard but
you know there it's it's going to be essentially the oil you know of or the basically the commodity
asset of of like you know the world's financial applications on chain. So yeah,
not to go too hard into that direction. But yeah, I would,
I'm pretty bullish on ETH and I think that prices are starting to kind of
like support that thesis and the narrative is starting to support that
thesis as well.
So tell me your leverage long without telling me your leverage.
No, I'm just kidding.
No, great comments there.
100X leverage from under 2,400.
So yeah, so we're feeling good right now.
Oh, we are feeling great then.
No, it's really interesting.
And as a trader and someone that obviously is moving money around for a living,
speed and lower cost, those are the two
things. That's my language, right? Smokey, appreciate you hanging out with us up here
throughout this space. Saw your hand go up. I'd love to bring you in. Yeah. So to speak on what
has been spoken on already, I mean, we're looking at blockchain and just the whole financial fintech.
Everything is just starting to bloom.
You can see that coming.
I don't know if anybody in here was tracking the Erebor Bank,
which is more or less Lucky Lonsdale and Thiel's new financial institution
that's going to be running on blockchain, helping startups and everything else.
It's just starting to bloom.
It's got a huge way to run, and I think ETH and Bitcoin both will definitely just starting to bloom like it's got a huge way to run and i think eth and bitcoin
both will definitely be starting to run but you know as with anything not financial advice
it's it's probably a good bet
yeah can't argue with that take there smoky i i have tried to keep up with that news a little bit
i don't know if maybe some of the panelists up here are a little more familiar with that,
but it just seems like it's a matter of time.
And honestly, you think about somebody like a Robinhood, it's basically tokenized already.
Tokenization is not only coming, it's here.
It's here in many ways.
And we've seen many projects launch on this.
And trading on chain with Ostium, another example of this is not like, hey, it's already here.
It's the future. We know it's the future. That's what's so exciting about all of this.
Noah, you're hanging out patiently up here on stage.
Didn't know if you had any comments or questions, anything that popped up during this conversation that you were listening in on.
Anything you want to throw into the mix here that was over to you Noah just double checking may have stepped
away for a second top of the hour I know maybe some people have to drop off here and he dropped
right there yep probably had to go um knots are you hanging out with us up here still?
Boy, if I go 0 for 2 right now.
I'm alive. There he is.
Nots saved me.
Okay.
Nots, I know you've been listening to the conversation here.
A lot of the trading talk that we've had, some of the just general market stuff, what's going on.
What are your thoughts?
Do you have anything to throw in here with this?
Listen, all I've got to say is, like, you know, I'm a person who on this panel is actually not truly like understanding of all the stuff going on, but blockchain and anything of that sort and crypto and stuff like that.
So, you know, me being here and learning is more so the key for me.
And it's something that I definitely want to learn and grow on, you know, personally. You know, I feel like I have a good knowledge on investing over 10 years,
good knowledge on trading over 10 years. And I wish I did learn all this, you know, years ago,
when obviously, especially, you know, just on the crypto side, you know, talking about Bitcoin,
talking about Ethereum, talking about all that stuff. You know, you had major, major opportunities to
in essentially become multimillionaires or depending on how much money you put into it,
you know, people have become billionaires. You know, just stuff like this, you know,
it's personally stuff that I wish I learned earlier. And I'm just really trying to fully
dive in now. And I think it was Tropic who said it before.
You know, when people really start to talk about it every single day is when it's going to be, you know, kind of too late.
Yeah, I just wanted to say, though, that basically,
if we do our jobs right and crypto advances in the direction that it should,
you know, from a tech standpoint,
you really shouldn't have to use the technology
itself in order to like, I mean, sorry, in order to like, you shouldn't have to really understand
the tech itself in order to use the products. So I think that's where the space is hopefully
moving in that direction where it's just like, you can just kind of like log in and use it like
as easily as you would use Robinhood or use if you're more of like a metatrader, like a think
or swim, you know, use like some of those apps and just like, you know, have it be pretty intuitive and not, you don't, you shouldn't have
to understand the blockchain in order to use like an app that's built on it. Like you don't need to
understand how the internet works on like a deep, like, you know, like IT level in order to, you
know, use, you know, a website. Right. So that's how it should end up being. But at the same time,
you know, when it comes to Ethereum, when it comes to Bitcoin and like Solana and some of
these assets, you know, it's coming work. The industry is coming around and starting to value
things on chain based off of their cash flows. You know, thank God we're coming to like a point
of sanity. So I think that, you know, there's coming to a point really soon where this,
it's going to converge and you'll be essentially to almost look at particularly like, uh, like apps that are built on the blockchain in like a very much like similar way. You'll be looking at PEs,
you know, or just like, you know, discounted cash flows and like looking at that type of stuff.
Um, again, like if we do our job, right, uh, uh it's gonna be a much more understandable in the
near future to be honest with you yeah i agree i'm i'm probably more on the knots side than
than like the tropic flow type of side of this uh bad price i know is is great at bridging
the gap here and it does feel like that both sides of TradFi and DeFi, that this has been
the bridge. This is like, hey, this is the adoption moment happening. People are going
to jump on board. I'm with you in the learning aspect, but to Tropic's point that you referenced,
I think we're still very early. And I mean, there's so many people, including yourself,
myself, that we don't even have a good full understanding
of all of this technology.
As that continues to happen, I remember
I think back to the internet.
From dial-up internet and websites and stuff
like that, and people didn't really fully
understand it. Now look where we are today.
Everyone has internet
in their pocket all day long
connected to the world.
I do think it is still early noah what's up
hey i know we're almost done but i wanted to add a closing statement my connection was terrible
so i had to find a new place but i would say one one thing for anybody that's more on the
technical side that's really interested in it is something called swarm learnings so one thing
about the blockchain that's like super unique compared to almost any other network is something called the internet
of things or IOT, which has been around for a really long time. But basically it's every single
like physical computer or physical component of the internet is connected to each other.
And one thing I was working on, so I'm a senior in college now, but I was a freshman,
is using swarm learning for
like artificial intelligence advancements. So it's like a decentralized network that connects
everything to everything. So I guess the best example I can give is a hive mind, you know,
like a bee colony, right? Everybody, or an ant colony, every mind is basically connected to
each other, making the internal network a lot more powerful
than an individual mind.
So for anybody that's more on the nerdy side,
swarm learning is something that's really, really interesting.
And it's basically only possible
because of stuff like the blockchain.
So I guess that's one of a trillion applications
of collected intelligence that can be created
on these worldwide networks. That's like pretty awesome.
So I would say that's something I've been looking into myself.
That's pretty cool.
A little tidbit.
Noah, let me ask you, where, where are you?
And then we'll go to traffic.
Noah, where are you educating yourself on all this stuff?
Somebody like Knott's myself,
where can we dive in and learn more about this technology before it becomes
part of everyday life?
Yeah, so something I've been doing is one of my advisors wrote the original hash network academic papers for Bitcoin.
So I would say that's a little bit of an extreme, but I read these academic papers because it's just more interesting to me.
papers because it it's just more interesting to me but honestly like youtube and some of these like
more popular networks like crypto twitter or i guess crypto x i guess is it called now but
anyways um there's a lot of ton of free information and i i would honestly say like
i would not pay for information on this kind of stuff and if anybody sells a course i'm sorry but
it's not worth it um because there's so much free information.
And part of what, you know, the purpose of crypto is it's like access to everybody who may not have access to the traditional finance tools.
So I honestly say like YouTube, crypto, Twitter, like, or even like your crypto, bro.
Like there's just so much free information across the world.
just so much free information across the world so i would honestly say like popular news a little
bit less um because you have a lot more of a dichotomy between those who like it and those
who don't but like there are definitely some really good free free sources for sure
i'm just gonna say uh really quick that uh what you are learning as a freshman and what you're learning as a senior, man, that just completely blows away the crap that I was learning when I was in school.
But I will say that I 100% agree with you that a lot of this stuff could be learned for free online.
With that said, I will put the little caveat out there that I do pay for a lot of courses simply because sometimes if the price is right, it's just worth my time to have some streamline get from zero to one or from point A to point B.
So, you know, would I pay the amount of money that I paid for college credits for stuff?
Absolutely not.
I wouldn't even pay for college right now.
But with that said, I think it is just really cool that you're exploring all this stuff so early into your
journey. I appreciate it. Yeah, I guess it's not a, I shouldn't say it's a knock on courses. I'm
more meant if you're a beginner, I would probably stay away from paying. But I mean, you're,
you're unbelievably advanced. So I feel like that that is a different ballgame where like,
there's an access to certain information you have to buy. If that's kind of what you're getting at, and which I would 100% agree with, like there, there access to certain information you have to buy if that's kind of what you're getting at and which I would 100% agree with like there there is a point where
you have to pay for certain things I would just say like if you're just starting out I would
probably go the free information route so what a great conversation I know we ran over a few
minutes here appreciate the panel hanging out and talking with us. Flo, I want to ask a question here before we close out. I saw this thing. I follow Ostium, of course. You definitely, if you're out there in the audience, you should go in and follow Ostium. But what is this OstiScan that you, this looks like a new feature that you guys have recently launched? Can you tell me a little bit about that on the way out here?
about that on the way out here oh yes so i mean essentially if you look at across like a crypto
like whether it's ether scan rb scan you know blast scan or whatever you know every every
kind of like app has their uh kind of like center of information like where you find things about
that app whether it's you know positions um whether it's kind of just overall leverage on in the within
the platform, like, you know, for example, I can look at the total open interest in the platform,
what the daily volumes are looking like, you know, what, you know, long OI, short OI looks like,
you know, just like I can look at, you know, liquidations that happen on the platform,
a lot of people, you know, in crypto, maybe it's the Wall Street bets mindset,
like to go and look at other people getting liquidated for fun.
And yeah, just get all the different kind of information,
all the pairs and just basically,
ideally as time goes on,
get just any sort of information that you can find on chain
as well as off chain about Austium aggregated in one place.
One of the kind of key tenets of crypto is transparency.
So having access to all this information is something that we like to make easy
or that crypto tries to make a little bit easier for people.
Sometimes the scans aren't the most legible.
They are a little bit difficult to look at, but hopefully ours is like pretty easy to understand.
That's awesome. It seems like every time I open Ostium, there's a new feature.
I definitely would. If you're out there in the crowd today, go into ostium.io, check it out.
And then of course, you'll see a button on there that says app, open app, open up the app,
look at all the different things that you can trade all in one spot, pretty easy, pretty self-explanatory as far as getting in, you know,
me and not, we sign on, we look at it. And at first, you know, we're okay. It's, it's, oh no,
it's, it's blockchain. It's very simple. It's very straightforward. If you, if you're a trader,
you'll, you'll get on the program, you'll look at it and you'll see, wait, this all looks very
familiar. It's all very, very similar to, very similar to trading on pretty much any platform, especially if you're a chart trader.
If you're a crypto trader, you're going to be right at home on there.
But big shout out to the whole panel for joining us today.
What a great convo from the Tesla crew all the way through this market talk and kind of general.
Boy, I just got smarter during this last 45 minutes or so of this space as well so shout
out to to noah to bad price smoky hanging out with us tropic always informing me on stuff
knots hanging out with us as well flo i'll give you the last word before we close it down
yeah once again appreciate uh you know you guys time thank you for bringing me up
and give me a chance to yap a little bit here both about austium about the markets um always enjoy you know my time here on these panels um and yeah
i guess my last word would just be echoing uh more of what was already said you know you guys
should check out austium um you know either austium.io to kind of check out more of like
what we're all about or just directly to austium.app if you just want us to get start trading um my dms are always
open um you know i'm perfectly able to you know answer most questions on a technical level uh you
know if you need help there or just kind of like more so just you know basic idea of how to use the
app like i'm basically willing to you know help people on any level to get onboarded i understand
that you know things might look look a little bit different to a lot of uh non-crypto users so again we're hoping to
kind of smooth out that process time goes on um and yeah just uh check us out and um let me know
what you think again thanks for your time guys yeah appreciate it flow great having you on these
spaces as always follow flow as well he's in a lot of different conversations talking markets, talking everything going on. Got some
really great takes as well. And then, of course, at Ostium account, follow it. Keep in tune for
all the different updates and stuff there. And all these great panelists, of course. And then,
of course, Wolf Financial right here. We're going to call it for this space. I'll be jumping back
over for a little bit to the live trading space we have going
on over on Wolf Trading and then Stocks on Spaces Power Hour today talking about things going on in
the market. Of course, a lot of great stuff. You can see the full schedule as the pinned tweet on
Wolf Financial. And with that, we'll sign off. This will become a recording. So if you missed
any of the Tesla discussion, any of the great Austeum market talk,
all these great panels here,
you can listen back as soon as I close this out.
And with that, we'll see you guys on the next space.
Big shout out to the crew.
Take care. Thank you.
