On April 23, 2024, Tesla, Inc. (“Tesla”) held an earnings call (the “Earnings Call”) announcing its financial results for the first quarter of 2024. Excerpts from the transcript of the Earnings Call containing information relating to Tesla’s 2024 Annual Meeting of Stockholders can be found below.
Tesla, Inc.
First Quarter 2024 Financial Results Q&A Webcast
Tuesday, April 23, 2024, 4:30 PM Central
Question:
Great, thanks. Yeah, so couldn’t agree more. The thesis hinges completely on AI, the future of AI, full self-driving, neural net training, all of these things. In that context, Elon, you’ve spoken about your desire to obtain 25% voting control of the company, and I understand completely why that would be.
So I’m not necessarily asking about that. I’m asking if you’ve come up with any mechanism by which you can ensure that you’ll obtain that level of voting control, because if not, then the core part of the thesis could potentially be at risk. So any additional commentary you might have on that topic?
Answer by Elon Musk:
Well, I think no matter what Tesla, you know, even if I got kidnapped by aliens tomorrow, Tesla will solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least. I don’t know if it would win on, with respect to Optimus or with respect to future products. But it would, but there’s enough momentum for Tesla to solve autonomy even if I disappeared, for vehicles. Now there’s a whole range of things we can do in the future beyond that; I’d be more reticent with respect to Optimus. You know, if we have a super sentient humanoid robot that can follow you indoors, and that you can’t escape, you know, we’re talking terminator level risk, then I’d be uncomfortable with, you know, if there’s not some meaningful level of influence over how that is deployed.
And if there’s, you know, shareholders have an opportunity to ratify or re ratify, the compensation. I guess I can’t say that, but that is a fact. They have an opportunity. And we’ll see, if the company generates a lot of positive cash flow, we could obviously buy back shares.
Leave a Reply