Tesla: Electric Noise

Published on
March 27th, 2019
Duration
34 minutes

Tesla: Electric Noise

The Big Story ·
Featuring Grant Williams

Published on: March 27th, 2019 • Duration: 34 minutes

How did Tesla become the most polarizing company in stock market history? In this episode of “The Big Story,” Grant Williams explores the fierce debate between those who believe in Elon Musk’s vision, and the obsessive community of short sellers who sees massive corporate fraud. The lines are drawn and the battle sometimes gets personal in a story that encapsulates the divides that define the 21st century. Tesla is more than just an electric car company — it represents our obsession with Silicon Valley and celebrity culture, the promise of green energy and AI, the corrosive impact of social media, and a roaring stock market that could soon come crashing down. Filmed from August 2018 to March 2019 in New York, San Francisco, Los Angeles and other locations.

Comments

Transcript

  • WB
    Warren B.
    15 June 2019 @ 15:53
    Great video, but was a little surprised to hear no speculation about whether government subsidies were dependent on data sharing.
  • SH
    Stephen H.
    1 May 2019 @ 14:04
    Thanks Grant, this must have been a challenge finding a bull protagonist who did not use the phrase “because it is”, so well done you! Great perspective on a such an opinion galvanising company. I guess, finances aside because everyone seems to have forgotten gravity, the question is to be long when there is real innovation and little competition (2012-2016) and consider this on a comparable basis when there is world class competition (2019 onwards) and adjust for the marketing savvy of a CEO who really knows how to sell. Time will tell, great interview, great story, going to be interesting.
  • AS
    Alex S.
    6 April 2019 @ 18:39
    If you really want to understand Tesla vs. the competition, watch this. Sandy Munro tells all: https://www.youtube.com/watch?v=2DucRxWz_58 An hour and a half of someone who really, really understands cars and how Tesla is killing it.
    • AS
      Alex S.
      6 April 2019 @ 18:41
      If you can’t copy the link, search: munro autoline 458
    • AU
      Aron U.
      7 April 2019 @ 15:58
      Would love to see a follow-up with Munro and Spiegel
    • MK
      Manny K.
      10 April 2019 @ 00:54
      Why listen to an expert of the Auto industry like Munro when you can pay $500 to listen to the twitter ranters (with zero credentials) on Real Vision?
  • CC
    Charles C.
    4 April 2019 @ 15:53
    more noise and soundbites than solid information, though I agree with the premise. it would have been interesting to hear someone with an understandable rationale for the bull case. maybe that doesn't exist 🤔
  • MS
    Matthias S.
    1 April 2019 @ 07:23
    i am cleary missing facts here on Teslas todays and future performance. where are the fundamentals in this report?- - why ist Tesla loss making - will they be able to cover their production and material costs by the announced prices? - How does the product life cycle look like from a consumer perspective? - Is there money in the aftermarket? This report just adds to the noise and lacks a lot of analytical efforts.
  • AS
    Alex S.
    31 March 2019 @ 04:02
    I own Tesla stock and a Model S and a Model 3. Best cars I’ve ever owned. Close competition from a 99 BMW 5 series, but that’s like saying the Motorola Razr was the 3rd best phone I’ve ever owned. When I got the original iPhone it was like... ok. Game over. I love Grant. I own gold and am long long UST. And this is the only non-ETF I own because Tesla is like Apple when EVERYONE thought it was over. Here: historical context: Colligan: “PC guys are not going to just figure this out. They're not going to just walk in.” Ballmer: “There’s no chance that the iPhone is going to get any significant market share. No chance. It’s a $500 subsidized item.” Waaaay back. Dell: “shut (Apple) down and give the money back to the shareholders.” LOL.
  • AL
    Andy L.
    31 March 2019 @ 00:58
    Can't disagree with much of what the short sellers say with respect to EM over promise delivery dates, weird statements, financial condition of the company, very disappointing ... but I own a Tesla 3 ... and its totally awesome. Live in Toronto and it performed as expected this winter with respect to battery life. No problems in snow different from any other car. Now that its just a bit warmer the car is over performing with respect to range, and the snow tires are still on. Very fun to drive. Network of charging stations throughout North America gives me the freedom to drive anywhere. My brother has had a Model S for 4 years, loves it. Every time SpaceX launches for some unexplained reason I feel good about our future. When the boosters land you realize how big a change EM has made to space launches. I agree ... EM has gone way outside normal in many ways ... but the products are really great. We are better for them. Watch what you wish for.
  • GO
    Gary O.
    30 March 2019 @ 22:50
    It's good to see both sides of a story unlike MSM fake news networks. Thank you Grant and the Real Vision Crew!!
  • yd
    yon d.
    30 March 2019 @ 18:52
    Great production and interviews! Thank you Grant and your team. You must have spent a considerable amount of time researching and editing for this production! As always, RealVision raises the standards bar. I give this production a thumbs up...(although not sure why the thumbs up/down meter isn't working nor can I vote for this video.) Please keep up the amazing quality that we've come to appreciate from RealVision.
  • RJ
    Russ J.
    30 March 2019 @ 15:09
    Mr Gerble just because you have $840 mil in assets under management in a bloated Fed economy and the short seller you despise has "only $2 mil of grandmas money" does not make you right, smarter, or more successful. just because you like a product doesnt make that products company a good company. mr gerble will one day be reminded of the ancient and wise saying "those who humble themselves will be exalted and those who exalt themselves will be humbled." what a pompous narcissist. just my opinion.
  • HA
    Hammad A.
    30 March 2019 @ 09:29
    Tesla is creating the future.... It will take time for people to accept the disruption happening in transportation sector...
    • DS
      David S.
      30 March 2019 @ 17:14
      Tesla has certainty disrupted the market. The problem is the valuation of the stack. DLS
  • KK
    Kevin K.
    30 March 2019 @ 08:19
    I don’t have a pony in this race so not articulating a bull or bear case here. Looking at the situation I list three arguments for each side: Bull: -Tesla has an amazing product and way ahead of competition in EV innovation -Elon Musk is the second coming of Thomas Edison -The future EV market is going to grow exorbitantly and Tesla remains the market leader Bear: -The company’s fundamentals are out of whack, way overpriced -Elon Musk is a conman manipulating investors and accounts -The EV competition (coming) is so great Tesla is done for IMO, It’s not a 0 but def not worth its current market cap either.
  • CH
    Charles H.
    30 March 2019 @ 08:02
    Massive misallocation of capital x wafer thin margins = first victim of next credit crisis
    • RJ
      Russ J.
      30 March 2019 @ 14:57
      charles, I could not agree more. I think it is as simple as that. who or what car companies have the deepest pockets and most political connections to make it through the next crisis. certainly not Tesla. we should all look closely, or even from a distance, at the last crisis when the taxpayer bailed out 2 of 3 autos.
  • JN
    Jill N.
    30 March 2019 @ 03:11
    I’m backing Cathie !! 👌come on to the other side Grant !! 😂🤣
  • cp
    claude-vincent p.
    30 March 2019 @ 01:55
    Nothing new in this video. Tesla is a clear short and survives thanks to a religious crowd that reminds me the 2017 and the alt-coins (remember those “assets”). Anyway, I will be happy when this stock gets to zero just to see the tongue of mr Gerber cleaning the floor trying to explain to his blind investors how wrong he was! And that merger with Solar City, what a joke!
    • AS
      Alex S.
      31 March 2019 @ 03:45
      Reminds me of Apple in 2007.
  • MS
    M S.
    30 March 2019 @ 00:10
    Model S was great car had an appealing look with its very wide body shape. To me it would look very solid luxury car just as any other luxury brands. But ever since Testla went for mass production, cars quality drop significantly and muscular appealing design is disappeared. Tesla can't survive long with below $250 stock price if it ever breaks current support level of $255-265 given its tremendous debt.
  • SU
    Shakeel U.
    29 March 2019 @ 23:01
    Good video, but would have been better if they went through and discussed the financial statements.
  • DM
    David M.
    29 March 2019 @ 19:11
    Great job Real Vision! I appreciate Grant Williams letting us know he is biased but still being open to the other side! That's what great journalists do!
  • SA
    Sandeep A.
    29 March 2019 @ 17:50
    I don't agree with Grant on Tesla. Tesla is a great company that has created a significant technological lead over other automotive companies -- in lithium ion cells/packs, vehicle assembly, to driver experience and autonomous driving. Musk has literally forced the US, European, and Japanese automotive manufacturers to accelerate plans to go electric. Tesla has also created a great consumer brand in both EVs and energy storage. Musk perhaps made a mistake by taking the company public prematurely. This has led to much investor skepticism about valuation since Tesla is not profitable, and unlikely to be so in the near future. Tesla's stock price may fluctuate a lot, but it is unlikely to go bankrupt. Either Apple or Google will likely buy Tesla much before that happens.
    • AJ
      Aaron J.
      30 March 2019 @ 22:25
      People I know who work in the German car industry also say that the technology employed by Tesla is not unique. It’s just that the rather conservative German car companies didn’t want to: a) move their product portfolios aggressively to electric because their profit margins would have collapsed; b) introduce immature self drive technology before the risks could be better understood and managed. I’d say these reasons apply equally to the big Asian and American car manufacturers. Tesla loses money and uses it’s customers as beta testers. Would an established manufacturer risk their business by doing the same?
  • CT
    CHRISTIAN T.
    29 March 2019 @ 11:33
    Musk targeting Montana skeptic reminded me of Parker Petite/Mimedx going after Sir Cohodes. Huge red flag?
    • RE
      Renato E.
      29 March 2019 @ 13:38
      Yes, if a CEO spends that much time fighting the shorts, something is fishy. Another similarity with Theranos.
    • DM
      David M.
      29 March 2019 @ 18:58
      Absolutely not. A CEO should fight short sellers. Especially when they rely on the capital markets, but even if not.
    • CT
      CHRISTIAN T.
      30 March 2019 @ 04:55
      @ Davod M: Why?
    • EF
      Eric F.
      30 March 2019 @ 13:31
      @ David. History does not support your view. Many examples of companies ignoring shorts, or even better, taking on board criticism to improve. Pretty much all examples of CEOs targeting shorts have proven to be frauds. In this case it feels (1) EM cannot take criticism (2) that criticism is possibly exposing facts he would rather keep suppressed. I think this company explodes as EM’s continued bad decisions compound on themselves.
    • DS
      David S.
      30 March 2019 @ 17:23
      A CEO and more importantly the board should welcome the inputs of shorts and see if they can improve the company. To ignore or simply
    • DS
      David S.
      30 March 2019 @ 17:27
      fight the shorts shows the company has problems. DLS
  • CA
    Craig A.
    29 March 2019 @ 11:07
    I have never seen so many comments on a Real Vision, so added one more.
  • NA
    N A.
    29 March 2019 @ 05:05
    Thanks for this, highly entertaining. My own Tesla views: 1) shorting is way too much effort for a max potential gain of 99% 2) long is too much of a headache 3) ergo whenever an investor tells me he has a position I run, seek your alpha elsewhere
  • ZH
    Zayd H.
    29 March 2019 @ 00:45
    Grant - awesome piece. Your content never fails to inform AND entertain. I think what bears fail to see is that humanity is cheering for musk. How do you value that?
    • EF
      Eric F.
      30 March 2019 @ 13:33
      By the eventual results. Let’s see how long the masses keep cheering when their cars either fall apart or steer them into a white truck.
  • DS
    David S.
    28 March 2019 @ 21:42
    Capitalism that we know is a business profit-based system. Part of the business economy now - Amazon, Tesla, etc. - is based on being the first mover and out running the competition without a profit motive, but cash flow positive. Money is made in the increases in the stock price. We will see how this works with Tesla, as the competition is ramping up. The net results of many of these competitions are lower margins and lower dividends for the older companies. Time will tell. DLS
  • KC
    Kenneth C.
    28 March 2019 @ 21:26
    i have never looked at a Tesla and thought it was a good looking car. Reminds me of when Saturns came out, a lot of hype but I fail to see any exclusivity to market that it will have in 5 years. I'm more interested in the shift of carbon footprint involved with shifting to electric cars, the supply issues rhat may be involved with moving to electricity and if there will be any true savings at all.
    • LJ
      Lucas J.
      29 March 2019 @ 13:55
      Model 3 totally looks like a saturn, just add an Ipad...
  • JR
    Jeff R.
    28 March 2019 @ 21:15
    Tesla gives me the same gut feeling Mattress Firm did. 👎🏻
  • JR
    Jeff R.
    28 March 2019 @ 21:11
    Great documentary! I hope the next one focuses more on potential accounting discrepancies, competitive advantages it may or may not have with building in China, and the executive exodus they have been experiencing.
  • GG
    Gary G.
    28 March 2019 @ 20:49
    But loved the presentation.
  • GG
    Gary G.
    28 March 2019 @ 20:48
    250 is simply the level. Need monthly close below for bear case. But there is a massive fight at this level. I think it's consolidating before massive rip higher. Seen this too many times in too many stocks. Sideways compression before the rip. However, I am just a speculator on some mere lines on the chart. Can care less about the bull or bear side but the right side.
  • gg
    georgy g.
    28 March 2019 @ 20:26
    Who cares about tsla... old and tired subject. Grants talents are better spent on “the road”. Some subjects: when Japan CB balance sheet = gdp why could not FED balance sheet get there? Review the state of European banks? Etc... Tesla wtf cares
    • EF
      Eric F.
      30 March 2019 @ 13:36
      Don’t watch it then, and furthermore, don’t bitch about it.
  • DM
    David M.
    28 March 2019 @ 20:21
    Objectively you could say that Elon does not always deliver but to say that he is a fraud or a "fake engineer" or "fake scientist" when he has beaten Boeing and Lockheed Martin in Commercial Space Launches and has some of the best selling cars and by far, best selling electric cars in the market takes a complete loss of objectivity. TSLAQ has gone insane: Flying sorties, tracking Elon's plane, etc.
  • DM
    David M.
    28 March 2019 @ 20:14
    Is there anyone more boring than Lawrence Fossi aka Montana Skeptic? So boring my goodness no wonder the poor guy doesn't get it.
    • EF
      Eric F.
      30 March 2019 @ 13:38
      What a moronic comment. Could not let it pass. Tesla is indeed the poster child of the ZIRP era. It will be idiots like you that get wiped out when this self implodes. You were warned but can’t even examine facts handed to you on a plate.
  • OC
    Otto C.
    28 March 2019 @ 19:55
    I am a fun of Tesla's cars but not of the stock at this valuation. This type of cult hype is what creates bubbles and it can inflate a stock much more than fundamentals. There is no question that electric cars are the future and thanks to Tesla for that. However, the competition is fierce and those new European models are much better than Tesla. I am hoping for one more explosive TSLA rally so I can short the shit out of it.
    • EF
      Eric F.
      30 March 2019 @ 13:40
      Me too! Lol
  • PD
    Peter D.
    28 March 2019 @ 19:45
    Someone should tell Grant not to worry so much ... Elon will take care of it....
  • LB
    Linghao B.
    28 March 2019 @ 19:21
    https://twitter.com/markbspiegel/status/572496524640452608 The guy shorted amazon back in 2015.
  • NG
    Nick G.
    28 March 2019 @ 15:30
    What a total bunch of losers. Both sides. Get a life. How can you talk so much rubbish about a stock that has traded $250 to $380 for 2 years? Sell vol and come back when it breaks the range. All there is to be said about it.
  • RE
    Renato E.
    28 March 2019 @ 13:49
    Tesla became a fraud when they announced the cheap M3 version and were forced to meet ridiculous milestones set by Dear Leader himself. Look what is going on right now: Tesla promised the delivery of the $35,000 car, but now buyers receive text messages telling them the cheaper version will only be available in June (or maybe never), but the more expensive SR+ is available right now. Bait and switch at its finest. Tesla sold its cars to their fan base so far, but I very much doubt that Jane Doe or Joe Sixpack are going to accept the many quality issues that come with it. For most people, a car is a car and not a gadget. Without QE, companies like Tesla would not exist. Every Tesla bull should read "Bad Blood" - thank me later.
    • DM
      David M.
      29 March 2019 @ 19:03
      ...you do know people actually buy Teslas and love them right? This destroys the Theranos is Tesla argument. Also a CAR is a gadget and a CAR.
    • EF
      Eric F.
      30 March 2019 @ 13:49
      Excellent comments Renato, and more drivel from David. The question is do people love Tesla or electric drive chains? I guess it will be the latter. They certainly don’t love (1) bumpers falling off driving through puddles (2) doors that don’t open in cold weather (3) battery level getting decimated in cold weather (4) cars steering them into off-ramps or white trucks. The quality of these luxury priced cars is extremely questionable. EM clearly can’t listen to constructive criticism and his bad decisions have sown a bleak future for this car company. The one thing I hugely compliment him on is pushing forward the EV / sustainability future narrative. He’s forced the hands of others. But his methods are highly questionable and his place in history will be viewed like his company’s namesake, a brilliant, but highly flawed failure. Tesla the person died in abject property. So will the company I think.
  • MW
    Max W. | Real Vision
    28 March 2019 @ 10:49
    Ross Gerber manages $850 Million between 5,000 people. Thats an average account size of $170,000. If that isn't the definition of dumb LA retail money I don't know what is.
    • DM
      David M.
      28 March 2019 @ 14:48
      You are dumb retail money. You are the definition.
    • EF
      Eric F.
      30 March 2019 @ 13:54
      Shock horror, David insulting yet another commenter he disagrees with!
  • BS
    Bernd S.
    28 March 2019 @ 08:27
    I find the content too bearishly biased. Would have loved to see a better balance between bulls and bears. And what I'm also missing is the acknowledgement of Tesla's achievements to date. Yes, certainly the cheap money has helped them, but building a company that produces cars from scratch in the 21st century against all that competition (I disagree that only electric vehicles should be seen as competition), I think everybody would have agreed 15 years ago that this is highly improbable and the bunch of guys trying that are nuts. Also, some of the short seller's claims I believe aren't founded by reality, e.g. that Tesla wouldn't have a technological edge, or that Elon is all about his ego. But if you read Ashley Vance's biography of Musk you must admit that he at least used to be driven by his vision and didn't care about his ego at least until recently. I have to admit though that I also have the feeling this could have changed recently, maybe by all the attacks against his personality, so that now he really wants to prove himself. Not sure about the fraud claims, but some of the short seller's claims are convincing. Curious where this whole thing ends up. Full Disclosure: I'm a Tesla fan, used to own the stock as a big part of my portfolio, now only own 1 share.
    • EF
      Eric F.
      30 March 2019 @ 13:59
      EM does also not look too healthy recently. I’m sure he’s under immense stress and it sounds like he is self-medicating. I also think a lot of bulls have placed him on too high a pedestal, which would affect anyone’s ego to be fair.
    • BS
      Bernd S.
      4 April 2019 @ 07:12
      Totally agreed, unfortunately
  • JB
    Jason B.
    28 March 2019 @ 08:04
    Ross Gerber reminds me of the portfolio managers who were long MBS, CDOs, CMOs in 2006-2007 and bragging about how smart and how rich they are
    • NA
      N A.
      29 March 2019 @ 05:15
      Couldn't agree more, looks like the last guy who should be giving investment advice, let alone manage hundreds of millions. More power to him of course but as soon as you brag about your success without acknowledging the risks you're taking I get the impression you'll be toast eventually.
    • EF
      Eric F.
      30 March 2019 @ 14:01
      To be fair, before I saw Ross in this video I thought he came across as a smug twat. The interview here definitely changed my mind. I think my opinion now is that more of a smug cunt.
  • NR
    Nelson R.
    28 March 2019 @ 04:59
    Thumbs down to the Gerber feller.
    • DM
      David M.
      29 March 2019 @ 19:04
      HA! Ross Gerber is the cool kid in highschool, and Spiegel is the loser who doesn't get why the girl he loves wants to date a rich, good looking guy that is funny. HA!
    • DM
      David M.
      29 March 2019 @ 19:06
      Also Spiegel is litterally like the dumbest car guy in the world. Don't take car advice from some guy who lives in NYC (they barely drive) oh and he shorted AMAZON in 2015. And I take back my previous analogy of losers in highschool. Its not fair to compare them to Spiegel.
    • EF
      Eric F.
      30 March 2019 @ 14:03
      I thought too thought Ross came across as a twat in the video. And funnily enough David is equally coming across as a twat in the comments.
  • JO
    Johnny O.
    28 March 2019 @ 04:53
    And just today in the news: Musk is a protected species, protected against free speech and facts: https://www.zerohedge.com/news/2019-03-27/twitter-suspends-tesla-critics-account-after-user-posts-spreadsheet-tesla-related-0
  • TB
    Terence B.
    28 March 2019 @ 04:30
    One thing is certain. This will be the most commented and voted on video in Real Vision.
    • EO
      Ernesto O.
      28 March 2019 @ 15:51
      And the video where you can get the most likes or dislikes if you write any comment, no matter if bearish or bullish.
  • mp
    michael p.
    28 March 2019 @ 04:09
    Zero new or informative information. Really disappointing. I expected more than a 60 minutes piece
  • NI
    Nate I.
    28 March 2019 @ 04:04
    I wish Grant would have tracked down a credible scientist or two to opine on the idea that EVs are better for the environment. That seems to be the mantra used to justify the taxpayer handouts and Elon worship, but I don't buy it. The last thing I want to see is such heavy electric grid demand that countries build more and more nuclear plants to keep up and then we have more Fukushima/Chernobyl events. Nuclear plants can be safe, but not at the price anyone is willing to pay to build one. My mind could be changed if someone credible had been interviewed to discuss the risks with ICE and EV.
    • CW
      Cole W.
      31 March 2019 @ 01:42
      I wouldn’t worry about the risk of new nuclear power plants being built in the US. Certainly not in the near future. They are way too costly to build and operate. Just go look at what’s happened with construction of Units 3 & 4 at Plant Vogtle in GA. $13 B over budget and currently running 5-6 years behind schedule. Or the Summer project in SC which was scrapped midway through construction.
  • gb
    gabriel b.
    28 March 2019 @ 03:33
    I enjoyed this piece and I’m glad you did it. However I’m a little disappointed that you didn’t dive more into the accusations of tesla charts, Montana skeptic, and other Twitter account you reference who basically a ledge out right fraud in numerous instances by Elon musk. It would be interesting to have credible guests discuss the delivery gap, whether or not model y is even viable remotely at this point, or many of the numerous other things that are spoiled by Tesla charts and others online.
  • Po
    Pedro o.
    28 March 2019 @ 02:25
    Interesting piece! If you think something is significantly mis-priced, you are *probably* missing key information. The market is probably not completely irrational. Tesla’s accounting is weak and aggressive, but it makes no sense to compare it 1:1 to other auto-manufacturers due to: - Tesla Energy could become bigger than Tesla Auto. Solar boom is coming with numerous new applications and the potential to transform industries - Potential to commercialize software services (navigation, auto-pilot, charge/switch optimization) - New transportation models (auto-pilot taxis, air travel, efficient cargo) - Potential to become a significant auto and energy technology supplier (royalties / sales) None of the above is a reality, but Tesla is looking at all of them. The main bear factor wasn’t mentioned: Inability to retain engineering talent I have no dog in this game since I think TSLA is probably fairly priced in relation to the rest of the market.
    • AU
      Aron U.
      28 March 2019 @ 19:50
      Good comment on the pricing. Tesla bears are probably rational when assessing the balance sheet, but in my opinion completely irrational in their assessment of Tesla’s cars vs its competitor’s. Marc Cohodes said in a RV interview that his first check on a short was if he’d miss the company (products, services) if it disappeared. EV is the future no doubt and Tesla is far ahead of its competitors. Disclosure: Just bought a Tesla (car, not stock) over Audi and Jag because of longer range, better performance and lower cost.
    • NI
      Nate I.
      28 March 2019 @ 21:24
      The executive revolving door is indicative of a fraud. Working for such an erratic and impulsive CEO would be no picnic, but the executives wouldn't be leaving by the dozens and walking away from a stock option fortune if it wasn't something more than Musk's personality. Maybe TSLA will strike gold and the fraud can be successfully buried, but I doubt it. The economic headwinds right now are going to be difficult even for the established stalwarts.
  • HH
    HODL H.
    28 March 2019 @ 02:04
    Oh my fuck Ross gerber, wow. I don’t see enough of him on CNBC
  • TA
    Trevor A.
    28 March 2019 @ 01:56
    I am in awe. A perfect synopsis of the TeslaQ saga. Thank you RV
  • TW
    Todd W.
    28 March 2019 @ 01:48
    As Sprung folks like to say - “It’s not a tent its a structure” I have been getting a laugh out of all the “tent” comments re: Tesla. I am probably the only viewer who has built, maintained and dismantled several of these structures in recent years. I don’t know about the Tesla build quality but the thing you refer to as a tent is a very interesting and innovative way to build. (Not that anyone cares about that). Lol. Good video Grant.
    • DM
      David M.
      29 March 2019 @ 19:08
      Exactly, anyone who sees that "Tent" knows that it is an awesome idea and does an amazing job compared to a permanent structure. Haven't seen many tents built with scrap and cement.
  • TH
    Thomas H.
    28 March 2019 @ 01:11
    I drive by the Tesla store in Austin, Texas, all the time. It has multiple model 3's sitting out in front.
  • EI
    Ed I.
    28 March 2019 @ 00:50
    All I learned was that the audience is polarized. I had hoped to hear the bull case and the bear case but this was just a collection of rants by people that didn't inspire confidence. If polarization was, in fact, the goal, then my bad - you hit your target.
    • NA
      N A.
      29 March 2019 @ 05:22
      What did you expect, a buy or sell rating at the end? I think it captures the Tesla saga perfectly, views on both extremes, no common ground, diametrically opposed frequencies on the spectrum. My takeaway is to stay away from Tesla, with people doing flyovers, visiting the new factory in China, modelling growth and sales projections for the next bazillion years still not getting an edge, what makes me think I would? Meanwhile it provides a ton of entertainment value.
  • JK
    Josh K.
    28 March 2019 @ 00:13
    This stock is the most entertaining thing in the market. Grant noted that the china factory is just a field, but there are plenty of videos showing them laying foundation and building materials. Perhaps recorded a couple months back? ex. https://insideevs.com/work-full-steam-tesla-gigafactory-china-video/
  • JC
    Joe C.
    27 March 2019 @ 23:41
    This was great work. Honestly I give Gerber a lot of credit for engaging with Real Vision and making his case. This thing probably could've been an hour if the cowards at Tesla had done the same. I'm even more confident in my short but it's always great to go behind enemy lines, see who's taking the other side of your trade, and determine if your thesis needs updating. (Ron Howard narrating: It didn't).
  • PG
    Philippe G.
    27 March 2019 @ 23:14
    I don't have a horse in this race, but my compliments to "Montana Skeptic" for standing up for himself and not hiding. Great piece by RV.
  • DS
    David S.
    27 March 2019 @ 22:53
    Thanks. Grant’s summation: “If Tesla does come crashing to earth, as I firmly believe it will, its demise will ripple through every asset market on earth. If I'm wrong, it may signal that much of what we thought we knew about business is now obsolete.” If Tesla invents and patents a very efficient battery system for commercial and residential applications, the stock is underpriced. If foreign electric cars are blocked by trade tariffs, then Tesla may have time to improve production and cash flow. One way of doing business has changed – Amazon, Tesla etc., but it is just a new addition to all kinds of business models. It does make it more difficult to determine the value of a company. Too rich for me, but many people are buying and shorting. Time will tell. DLS
  • RS
    Robert S.
    27 March 2019 @ 22:25
    Whatever you may think about E. Musk. I think he surely has changed the whole automotive industry. Let us at least give him credit for that ;-)
  • ET
    Eduard T.
    27 March 2019 @ 22:19
    SEC needs to ban Elon M. from running any public company and put him in his place.
  • EO
    Ernesto O.
    27 March 2019 @ 21:20
    So much bias in the comments. And the video didn't include flamethrowers or cars flying to space.
  • dw
    douglas w.
    27 March 2019 @ 21:19
    For me its simple, give me 3 consecutive profitable quarters and I'll change my tune from bear to bull.
  • JH
    Joel H.
    27 March 2019 @ 21:15
    Great piece. Thx RV
  • oo
    olga o.
    27 March 2019 @ 20:56
    "I call us genX leaders"... he can relate. Yeah, Gerber, it is you and Musk, in the same league ... regardless of where one stands on Tesla thesis...Grant, pleeease, pick better people to interview. The man is a pompous narcissist. It cheapens the show unless it is your plan to tilt so heavily to the bears, at any cost. And btw, I am a huge fan of your other interviews, the one on Gold (wolf ) being a top pick.
    • ET
      Eduard T.
      27 March 2019 @ 22:29
      Agree, Gerber is actually worse than Musk. According to him, releasing short research reports requires a min. of $850m in AUM. $2m isnt enough. Gerber - ever heard of the First Ammendment??
    • CR
      Cristian R.
      28 March 2019 @ 01:21
      It's just symptomatic of the lack of coherent Tesla bulls.
    • BS
      Bernd S.
      28 March 2019 @ 08:30
      absolutely share that point of view 100%
    • EF
      Eric F.
      30 March 2019 @ 14:11
      I understand your comments Olga but as Eduard says, this is indicative of a Tesla bull. I find the bears to be less prickly, more objective and look at hard facts. A real lack of substance in the bull case. Lots of what ifs. Great to see the other side of the trade, every encouraging.
  • BG
    Bruno G.
    27 March 2019 @ 20:49
    The most important part of the presentation to me was the last 30 seconds when it stated that Elon and Tesla declined an offer to discuss their views.
    • MZ
      Martin Z.
      29 March 2019 @ 07:44
      Apparently Musk thinks a guy like "Montana Skeptic" is a bigger threat to people getting to the truth of things than RV or Grant Williams is. I think he might come to regret that. Anybody brave enough to climb into a self-driving car with that clown at the wheel is not to be trifled with.
  • IL
    Ian L.
    27 March 2019 @ 20:44
    So Cathie Wood apparently thinks Tesla is worth $4000 per share. Good luck to anyone who has their money with Ark Invest.
    • DD
      Daniel D.
      27 March 2019 @ 22:22
      Ian I agree 100%. She obviously bows down at the Temple of Musk. I mean it was embarrassing how she gushed over him.
    • TM
      The-First-James M.
      28 March 2019 @ 20:48
      The recent interview she did with him, published via an Ark Podcast, is so cringeworthy it's almost worth listening to for entertainment. An exercise in non-critical thinking...
  • MH
    Matt H.
    27 March 2019 @ 20:29
    I'm nominating this for the RV oscars...
  • CM
    Chad M.
    27 March 2019 @ 19:39
    Anytime Grant has a new video on RV, I immediately watch... This one may be one of the best (at least tied with the Marc Cohodes interviews). Amazing job! Can't wait for more... [Is it just me or does Charley Grant look like he could be Grant Williams' son?] Also, Ross Gerber is a goober.
    • BS
      Benjamin S.
      28 March 2019 @ 18:14
      I always think Ed Sheeran is Grants long lost love child.
  • JD
    John D.
    27 March 2019 @ 19:36
    Grant looks absolutely terrified during the Tesla auto-pilot shot.
    • PK
      Patrik K.
      28 March 2019 @ 20:00
      I couldn't help but laugh at how tense he looked when the autopilot went on!
    • EF
      Eric F.
      30 March 2019 @ 14:12
      Based on results, who can bloody blame him!
  • GR
    George R.
    27 March 2019 @ 19:02
    The banks had capital injections in the crisis. It can be argued this company is so systemically important to Mother Earth that AOC and co. could lobby for a green bailout/capital injection. The story is so crazy thus far, I don't see why it can't get crazier. It's either that or Tesla becomes in a state owned enterprise in China and they acquire all the IP!
    • DP
      David P.
      27 March 2019 @ 21:17
      They don't have any IP of real value.
    • MZ
      Martin Z.
      29 March 2019 @ 07:59
      Argued by who? Certainly not by any respectable environmentalist. Tesla has siphoned off enormous subsidies that would have been much more efficiently spent on thousands of far less glamorous R&D companies and projects. It could be equally argued that Tesla is doing to Mother Earth what the banks did to Joe Taxpayer in the crisis you so aptly refer to.
  • M
    Mike .
    27 March 2019 @ 18:50
    I find this disappointing and a departure from the quality I have come to expect from RV. Grant starts out calling Tesla "a fraud". He offers no evidence or facts to support this claim other than a group of random (anonymous hooded guy, seriously?) twitter personalities making further claims with no evidence offered. This is gossip not serious, fact based research. It is filled with feelings and rumors from either side, no real evidence or even the semblance of a coherent argument other than it's a poorly run company. I was very interested in this piece as I thought that Grant or his guest(s) would lay out a real case against the company. This was a disappointment.
    • M.
      Milton .. | Founder
      27 March 2019 @ 19:37
      Earlier I got a message from a subscriber who lives in a country that’s not big on Twitter and he was fascinated by the feud between the 2 groups and how much time some people spend on it. He found this video entertaining because it’s not something he comes across often. I liked his message because in my view our videos should have an entertaining value to them and this was fun to watch. No worries, big Minds of March interview is still coming on Friday.
    • MK
      Manny K.
      27 March 2019 @ 21:22
      Mike L. Couldn't agree more. I am very disappointed with this obviously biased piece. No honest objective discourse in this piece. Just mindless rhetoric. I especially love the part when one of the short sellers describes Musk as "not a real scientist"; well... NASA disagrees with you. I am so repulsed that Real Vision would give a voice to nobody's whose only claim to fame is screaming negatively about Tesla on Twitter and SA (they are known for nothing else. Show us any investing track record of these people, otherwise why are they being interviewed?) Seriously considering canceling Real Vision.
    • HC
      Hugh C.
      27 March 2019 @ 22:46
      The main TSLAQ contributors have put up a group based research effort created by current and former financial professionals. The quality is high and remarkable. Whether you believe Tesla is a fraud or not to dismiss TSLAQ is a mistake.
    • CR
      Cristian R.
      28 March 2019 @ 01:23
      Agree. This is just too meta, it would have been better if they gave both sides the time to actually lay out their arguments for and against.
    • GW
      Geoff W.
      29 March 2019 @ 15:56
      Come on Mike L, the problem is the bull case argument is weak. If you can make a better argument get in contact RV and stop winging
    • EF
      Eric F.
      30 March 2019 @ 14:14
      Manny, don’t be a bloody snow flake. FFS.
  • EL
    Eugene L.
    27 March 2019 @ 18:43
    Either way, this story will be a great book in five years
    • WM
      Will M.
      30 March 2019 @ 15:09
      Possibly even a thrilling Netflix movie...... :)
  • DD
    Daniel D.
    27 March 2019 @ 18:36
    Sorry youngins Tesla is toast! Ya'all are drinking the Kool Aide too much. The car, it's manufacturing infrastructure, costs, quality, etc. are subject to market forces and there are behemoths that will be squashing this little bug. You can call it a technology company or any other label you wish, it just won't stand up to the competition near term. The disciples of Elon that think he's "cool" that the company is "cool" that the car is "cool" haven't been around long enough to have seen this story play out countless times. I have no ax to grind with Musk, but I know this industry and what he's facing once the hood is opened is extinction. Tesla is a fly on the ass of an elephant and is going to get swatted. Specifically, Tesla will lose on costs, market share, manufacturing, quality, distribution among a host of other competitive disadvantages. Mr. Tucker, Mr. DeLorean please meet Mr. Musk-your 15 minutes of fame are OVER!
    • KR
      Kenneth R.
      27 March 2019 @ 18:44
      I agree. However, the wildcard is free money from CB's.
    • AB
      Adnane B.
      27 March 2019 @ 21:18
      Still waiting for the Tesla killer... Let me know when it's there and when it's mass produced and selling like fresh pains au chocolat...
    • PN
      Paul N.
      27 March 2019 @ 22:31
      The Tesla killer is credit tightening sir
    • DS
      David S.
      27 March 2019 @ 22:37
      What about US tariff barriers on foreign electric cars? DLS
  • MT
    Morgan T.
    27 March 2019 @ 18:33
    Watching this video just tells me we are well over due for a wipe out of unprofessional money managers who doesn't value other peoples' money. Also some good confirmation on my already too large short.
  • KR
    Kenneth R.
    27 March 2019 @ 18:27
    If Jussie Smollett can get off anything can happen. It's a fantasy environment in this case the lack of any Investment hurdle rates and the Deemed "good" subsidies being directed to "Save the planet" has made this company and Elon a God like entity. Cathie Wood may be right if the results are as Grant says at the end that everything we knew in pre 08-09 finance is turned on its head. In that case it will be every man and woman for themselves in trying to discern what is real and what is smoke and mirrors. Essentially, chaotic crowds deeming "socially" who and where the $$ should go. If that's the case all my 33 years investing will be worthless. Maybe that what Blackrock and the robos want?
  • YU
    Yoni U.
    27 March 2019 @ 18:24
    More stories like this. That was great.
  • AP
    Alessandro P.
    27 March 2019 @ 18:23
    Guessing "Tesla Charts" = Scott Galloway
    • TA
      Trevor A.
      28 March 2019 @ 01:59
      interesting. It could be
  • JP
    John P.
    27 March 2019 @ 18:00
    Echoing other comments here, I enjoyed this video but found it to be too little surface level. If it was the intro to a 3-5 part series, awesome, but as a stand alone it was underwhelming. I already know tesla is controversial and the common news stories etc. But flying planes over the factories? Tracking Musk's jet? Model 3s in parking lots? There are so many potential deep dives mentioned here that left me wanting more.
    • BS
      Blair S.
      28 March 2019 @ 00:56
      All the details are readily available on twitter....
    • EF
      Eric F.
      30 March 2019 @ 14:29
      This could easily be a multi parter. But my fellow commenter is correct, all the details are on Twitter. I think RV did a great job of opening the door on this. It’s not their job to lead you through to the other side. Do you own further research if interested. You’ll find a lot of insightful information out there.
  • AP
    A P.
    27 March 2019 @ 17:55
    Would love to hear from anything BULLISH Grant has in mind, in general. Or maybe it is just the way RV tasks are split: Justine will take the exciting rare earths (or give it an exciting twist) while Grant will go to get worried about Italy, Tesla, ETFs, bitcoin...I get that some things are worrisome, but only focusing on that all the time is a bit exaggerated.
    • CM
      Christopher M.
      27 March 2019 @ 21:18
      Gold.
    • SD
      Stephen D. | Contributor
      28 March 2019 @ 04:54
      and gold miners
  • AJ
    Angus J.
    27 March 2019 @ 17:47
    I generally like Grant William's pieces but I found this report to be a missed opportunity. Tesla is a technology company that analysts mistake for a Auto company. Tesla is leading the competition in 3 key areas: Battery Technology, Self Driving AI and Dark Manufacturing. In the first 2 they are years ahead of the competition. There is a material risk that they fail at any one of these areas or run out of cash due to the R&D burn but that is the real story. As a trader the short trade doesn't make any sense to me. If they can pull it off TSLA should be 5-10X of the current price. If the shorts are right they make 1X if they are wrong they lose 5X. RV should do a piece on why Wall Street systematically fails to appreciate the business models of disruptive technology. AMZN was a seen as a online bookstore, GOOG was a phone book and FB was just another social media site.
    • GB
      Grant B.
      28 March 2019 @ 00:10
      Tesla's battery chemistry and cells are made by Panasonic. They do have a lead in battery management. This isn't a super hard problem (ICE management is far more difficult), but it's a new problem and they have a big head start. They are the leaders in self-driving using only cameras, but all currently available data suggests they're far behind the general leaders in this field (Waymo and Cruise). I'm not sure why you say they're a leader in dark manufacturing. Fremont has more humans per car produced than other major manufacturers. They aren't anywhere near being able to turn the lights off.
    • AJ
      Angus J.
      28 March 2019 @ 01:31
      Hi Grant. My point above is that the important competition is about who will dominate the hardware (battery and drive-train), software (autonomous driving AI) and delivery of large fleets of autonomous cars. Tesla seems to be ahead in the hardware side for now and I think the form factor will be increasingly irrelevant over time. As for the software I agree that Waymo is the main competition and Musk's bet to not include LIDAR is a big risk. That said Tesla have an order of magnitude more actual data. Most of Waymo's data is simulation where as every Tesla driver is in effect training their AI model. As for dark manufacturing I didn't say they were world leaders but they are clearly using Fremont as prototype for a automated dark factory. Their version one obviously didn't work well but they seem to be fixing the bugs based on delivery numbers. Our contacts told us that the Fremont factory scared the large manufactures more than anything else Tesla has done prior for what it worth,
    • TB
      Terence B.
      28 March 2019 @ 04:24
      Tesla does not license any of their technology outside of vehicle sales. They are an auto company. They obviously prefer the technology company designation because that comes with higher valuations.
    • SF
      Simon F.
      28 March 2019 @ 08:54
      If you want to see an example of how the competition is getting ahead of Tesla watch the Polestar 2 launch video
    • MZ
      Martin Z.
      29 March 2019 @ 08:12
      All three companies you cite (AMZN, GOOG, and FB) are primarily software companies, and always have been. They make the bulk of their revenue through network effects and virtual, scalable platforms. Is that what you think Tesla, SpaceX and Solar City do? Cars, rocketships, and solar farms are hardly comparable to clouds in the sky. (Or maybe you were talking about Musk's endless broken promises?)
  • JO
    Johnny O.
    27 March 2019 @ 17:36
    Is there a way to short Ross Gerber too?
    • TE
      Tito E.
      29 March 2019 @ 09:00
      Haha i'll pile in on the Ross Gerber short
  • MN
    Maverick N.
    27 March 2019 @ 17:29
    (20:45) Ross Gerber : "He's a wild and crazy guy. I get that ...... I am too!. I call us the Gen X leaders, where things like social media ...........yada yada yada........" Me : "Ross, you are an idiot! But this is the way world has come to. The real eclectic Hugh Hendry is sitting at home after (rightfully) shutting down his hedge fund while the fake one Ross has over 800 MM$ in AUM." Giving him a voice on a honest platform like RV is a really bad idea. Next time I see Ross on - I will close my account here.
    • EN
      Eric N.
      27 March 2019 @ 18:09
      Maybe he is the least idiotic Tesla bull they could find. Wanting to balance the views, Grant had to take what he could get.
    • JC
      Joe C.
      27 March 2019 @ 21:54
      Was giving a voice to Bannon or Farage a bad idea? Maybe you should welcome the deep dives into the minds of those you disagree with, so you can decide whether your theses still hold or need to be tweaked. Considering RV is sure to bring someone else on who rubs you the wrong way, maybe save yourself the emotional trouble and close it now.
    • JO
      Johnny O.
      28 March 2019 @ 04:24
      You were good until your final sentence. Including Ross Gerber and Crazy Cathie demonstrated perfectly what's holding this stock aloft.
  • BL
    Barclay L.
    27 March 2019 @ 17:13
    Good story telling and video editing!
  • TM
    The-First-James M.
    27 March 2019 @ 17:05
    Is it just me, or was that a look of vague discomfort on Grant's face when "The Gerbs" engaged Autopilot?
  • KS
    Kapil S.
    27 March 2019 @ 16:58
    This is useful only if you've never heard of Tesla. Otherwise, you could get all of the relevant info in this video from spending 10 min on Twitter.
  • YL
    Young L.
    27 March 2019 @ 16:35
    While entertaining, I wish, and perhaps this is not the right format, the video explained why Tesla is a company headed for bankruptcy. Seem the video focused on people emotion more than hard facts and data to explain the imminent bankruptcy thesis. Whether Tesla goes bankrupt or not, you have to give Elon this. The "success" of Tesla pushed other auto manufacturer to move to electrification of future models, which Elon has said was his goal of Tesla.
    • TR
      Travis R.
      27 March 2019 @ 17:01
      Absolutely. Musk has been incredibly successful in achieving his stated goals.
  • NC
    Nic C.
    27 March 2019 @ 16:31
    pretty boring
  • CB
    Chris B.
    27 March 2019 @ 15:19
    Entertaining piece - BTW, don’t own the stock but have owned a Model S since 2016; great product and great service - just sayin.....
  • BD
    Borut D.
    27 March 2019 @ 15:12
    This piece is noise. No depth. Feeling disappointed, because I was really looking forward to watching this.
    • IO
      Igor O.
      27 March 2019 @ 20:31
      It's a summary. Just find Spiegel. He is everywhere stating everything what's wrong with Tesla clearly and loudly.
  • JS
    John S.
    27 March 2019 @ 14:55
    I wouldn't call this piece well balanced as proponents seem ill informed or so full of themselves they would rather stand in front of a mirror than meet friends (if they have any) for dinner. That said, it supports my own view which is that this massive fraud will end up in a smoking hole along with its customers, billions in misallocated capital, and thousands of unsuspecting investors. Very sad. And I can't help but wonder how such an event might affect confidence well beyond the TSLA community.
  • cb
    carter b.
    27 March 2019 @ 14:36
    Surprisingly underwhelmed ... you got all the right people on tv but where were the hard hitting questions? Could have made this twice as long and won some awards. Ross and Cathy are idiots, should have exposed them for what they are.
    • M.
      Milton .. | Founder
      27 March 2019 @ 15:25
      There's definitely potential for multiple follow-ups. Being the first piece on the subject I'd say we captured both the humorous part and a general overview of how people from the outside view Tesla.
    • TM
      The-First-James M.
      27 March 2019 @ 17:32
      This video worked well as an introduction. Not as a deep dive. You need follow ups.
    • cb
      carter b.
      28 March 2019 @ 12:07
      as a follow-up, maybe i was a bit harsh... it was a decent overview... i've delved into TSLAQ for a year now and its just mind-boggling with all the BS this company puts out so i was expecting more... i watch 90% of RV content and 90% of it is fantastic so my expectations were off the charts... i look forward to follow-ups as this story slowly falls apart for Elon and his cultist followers
  • AP
    Andrew P.
    27 March 2019 @ 14:34
    I think there could be some merit in idea Tesla offshores and sell's its "IP" soul to China to drop production costs and stay solvent....but sure seem to be dragging their feet it that's their intent on that factory---maybe they'll stumble into that solution.
  • RD
    Ryan D.
    27 March 2019 @ 14:34
    Fantastic piece. As a guy that has been deeply obsessed with the Tesla Twitter community for around nine months, I assure you that it is every bit as entertaining/crazy as this segment makes it look. And I appreciate that Grant gave a voice to the bull case to balance out his own (correct) bearish views.
  • PS
    Paul S.
    27 March 2019 @ 14:26
    I don't know how you sat in a car like that with Gerber without bursting out laughing We live in a world devoid of critical thought and Gerber is a low flying individual
    • JS
      John S.
      27 March 2019 @ 15:06
      Grant didn't look particularly comfortable while Gerb's car drove itself allowing gameboy to fiddle with his toys. Truly...a Jedi master of self control.
  • TR
    Travis R.
    27 March 2019 @ 14:13
    Put me in the bull camp. Short term anything can happen but TSLA longer term is far ahead of the pack. TSLA is killing ICE vehicles, killing the dealer network, killing unions, killing oil demand, etc. Think about the long term shift that is being forced on the major auto makers. Also the "cult" of TSLA is real. I remember reading an article about a man investing his entire net worth in TSLA and writing Elon a letter telling him that win or lose he is backing him to the end. You cant short against that! TSLA can always sell more equity to the cult; hard for a company like that to go bankrupt.
    • PS
      Paul S.
      27 March 2019 @ 14:40
      "Killing" oil demand with 250,000 cars a year - fuelled by coal, gas... lol
    • JT
      Jarret T.
      27 March 2019 @ 15:36
      "killing the dealer network" - until the idea of servicing comes up
    • TR
      Travis R.
      27 March 2019 @ 16:33
      Paul S. Electric vehicle adoption is accelerating. The entire auto industry is rapidly shifting to electric. Demand destruction is marginal in the beginning but significant down the road. LOL to shortsighted individuals.
    • ND
      Ned D.
      27 March 2019 @ 18:25
      Look at the balance sheet, they need cash to "save the world" If they can "always sell more equity to the cult" why hasn't he done that?
    • GB
      Grant B.
      28 March 2019 @ 00:14
      Indeed. If Tesla had demonstrated the ability to sell billions more equity and maintain their stock price, I suspect this film never would have been made. Instead Elon has said they were weeks from death last year, and they appeared to have been running low on cash around March 1st of this year.
    • GB
      Grant B.
      28 March 2019 @ 00:16
      The problem may be how leveraged Elon and Kimbal Musk are with their Tesla shares. Their lifestyle may not afford a significant drop in share price. It appears to be a classic example of management leverage incenting excessive risk-taking.
  • TR
    Travis R.
    27 March 2019 @ 14:08
    Complaining about TSLA subsidies may be a legitimate gripe, however it is not an attribute for your short thesis.
    • TR
      Travis R.
      27 March 2019 @ 15:02
      Paul S. Electric vehicle adoption is accelerating. The entire auto industry is rapidly shifting to electric. Demand destruction is marginal in the beginning but significant down the road. LOL to shortsighted individuals.
  • DH
    Dale H.
    27 March 2019 @ 13:59
    Also love you Grant and appreciate tackling this one - but this was a Vanity Flair fluff piece. Where was the investment thesis of both sides? it was all subjective “I believe” which is no way to argue a case - esp this one. RV should be setting the bar higher here than what CNBC would publish and then let viewers have a reasoned debate on the facts. We don’t need to agree but it’s hard to move beyond the superficial when neither side clearly lays out its thesis with substance and facts.
    • CY
      Christopher Y.
      27 March 2019 @ 15:01
      Bang on, very little substance. Just a lot of headline narratives.
  • CC
    Christopher C.
    27 March 2019 @ 13:50
    Love Grant Williams but I humbly think there are few things he is missing. There are risks that Tesla may indeed go bankrupt. The risks are real. That being said Ross Gerber is a blow hard. And so is Mark Spiegel, "Tesla has nothing meaningfully proprietary..???? " My humble thoughts on where Tesla has distinct advantages that will be very hard to overcome if they survive.... 1.) $/kWh manufatucring cost for batteries. Tesla is way ahead and getting further ahead. 2.) Being able to regenerate the battery/not drain the battery during acceleration/breaking due to amperage requirements/bottleneck in battery pack. Tesla just bought the global best in class capacitor company that addresses these issues. Very good for cars. Huge fore semi. 3.) Same acquisition has new technology which DOES NOT require solvent/heat based application of cathode anode in battery manufacture. This increases battery density and storage capacity and MASSIVELY decreases energy inputs/cost for manufacturing AND alleviates toxic solvent which must be evaporated off in current process. Decreases manufacturing cost, (See 1 above) and decreases battery volume and weight. Less battery cost/weight/volume and MORE range. Also compare competitors batteries use of cobalt to Tesla's. Eye opening. 4.) New chipset for autonomous driving. Current chipset (nVidia) optimized for video output. In house designed chipset is an order of magnitude faster. 5.) Fleet miles driven using current autopilot. No one is even close, again by an order of magnitude. 6.) Do you think Tesla is getting smarter or dumber in regards to number of parts need to manufacture cars/types of fittings fasteners etc? 7.) Legacy players have dealership networks which chew tinto margins. 8.) Legacy players have internal politics resistance to fight in regards to how to accolocate talent and resources. 9.) Legacy players still have advertising expenses which Tesla has none of. 10.) Supercharger network. Where you gonna charge your Audi, Porsche, etc? 11.) Tesla has vertically integrated their supply chain. Legacy manufacturers exist at behest of 3rd party suppliers. 12.) Rate of innovation matters. #jerk https://en.wikipedia.org/wiki/Jerk_(physics) NO ONE is even close nor can they compete. Just a few points I never hear the bears come within hailing distance of addressing. Have more if interested. Tesla may fail. But their are quite a few MASSIVE optionality fat tail value generator plays, any one of which could blow the bears out of the water. I could wrong.
    • TR
      Travis R.
      27 March 2019 @ 14:19
      Chris C. Outstanding summation. Please share more that you have. The video presentation forgot Powerwall/Powerpack which is a massive opportunity in itself.
    • CC
      Christopher C.
      27 March 2019 @ 14:23
      I could go on Travis. The main point I wanted to make, as I said, is the bears out there have some very good points. I have not heard one of them come within hailing distance of addressing the issues I have raised. They can't because the facts of the matter are against them. Which is fine. Just seems inane to me to take a position and willfully ignore the handgrenades under you ass.
    • WY
      Will Y.
      27 March 2019 @ 15:00
      Dude can you stop copy pasting from twitter? I've seen the exact same wording about 5 times.
    • CC
      Christopher C.
      27 March 2019 @ 16:05
      If you would like to attempt to dismantle the points I have thoughtfully made with cogent analysis and or sourced and valid information that contradicts any or all of them that would be gratefully appreciated and humbly considered. Failing that I will retire comfortably into the fitting refuge with the placard, "Methinks the lady doth protest too much" hanging appropriately over my head.
  • WD
    William D.
    27 March 2019 @ 13:44
    Brilliant. Can’t wait to see the follow up full length documentary in a year or two when it unravels. The rabbit hole must go much deeper as how and why the company continues to exist. We shall see. Thanks!
  • rt
    remi t. | Founder
    27 March 2019 @ 13:41
    Thats exactly why we created Real Vision, unbiased reporting. Outstanding piece!
    • CT
      CHRISTIAN T.
      27 March 2019 @ 15:29
      I liked the piece and did not mind that it was more entertainment than in depth analysis of each side. I love Grant Williams as well. But come on.. The bulls look like idiots and the bears rational. I would hardly call that unbiased (unless you believe the truth is that these bulls are in fact idiots)... And I buy into the bear thesis.
    • IO
      Igor O.
      27 March 2019 @ 20:00
      Now brace yourself :-)
  • SC
    Sean C.
    27 March 2019 @ 13:35
    Nice piece but a little short and very high level, made up mostly of sound bites. Would have been nice to see a deeper discussion with a more detailed look at the numbers, especially the ones the TSLAQ community use as the basis of their fraud allegations.
  • MS
    Matt S.
    27 March 2019 @ 13:10
    Eeh that were right good, that...! I'd be happy to take "grandma's two-million dollars" thanks very much!
  • NO
    Neil O.
    27 March 2019 @ 12:58
    I'm a nervous bear and want to thank you for this film. Great story-telling and usual top notch production quality, by the way. The thing that has me nervous is whether Tesla is being protected by the US government. This is the only US carmaker that realistically could have a leading position in electric cars, and is the US willing to see European and Asian competitors become the dominant players globally? If not, are they protecting Tesla to allow it to become a national champion? If so, can Elon Musk get away with anything to make that happen? If capitalism as we have known it persists, this company will go bust, but if a form of managed capitalism is the new normal, then my shorts are going to hurt.
    • MC
      Minum C.
      27 March 2019 @ 17:07
      It's possible to protect Tesla without protecting TSLA. It was done recently with General Motors.
  • Nv
    Nick v.
    27 March 2019 @ 12:34
    Great coverage of both side. Well done
  • ZH
    Zack H.
    27 March 2019 @ 12:19
    Maybe one of the best yet Grant and company outstanding! Can’t wait to watch it again with my wife tonight😀
  • AB
    Adnane B.
    27 March 2019 @ 12:10
    Seems RV is missing some key points. Tesla isn't a car company but a True tech company. ICE manufacturers don't come close to achieve what Tesla has made so far. Every quarters, years that passes Tesla shorts comes up with new short theories... what is clear, ICE manufacturers have recon that EV is the future and they are playing catch up... however this is a sprint and a marathon at the same time. Tesla is now delivering hundreds thousands of cars every year while investing heavily in increasing production and lowering costs. Like it or not but the auto industry is going to shift to EV, Tesla has started this and China market will force ICE manufacturers to manufacture EV, if not they will see a gradual decrease on their ICE vehicle exports. Looking forward to read/see the next short catalysts.
    • PS
      Paul S.
      27 March 2019 @ 14:35
      Like it or not - TLSA will burn an extreme amount of cash in Q1 - proving the failure of a business model fueled by a proven purveyor of securities fraud
    • AB
      Adnane B.
      27 March 2019 @ 21:37
      can you quantify extreme amount? so far Tesla have paid back a large debt of 920 millions and is acquiring Maxwell for circa 300 millions, these are healthy spends... anyway your claim is yet to be confirmed on May 1st. I am truly amazed by the new short thesis that comes out every weeks and months... soon or later the metrics will change... which manufacturers sell most of EVs? once this race is started, it should enlighten some skeptics...
  • TT
    Tommy T. | Contributor
    27 March 2019 @ 12:00
    Nice work Grant and Real Vision team. Outstanding. $TSLAQ
  • EJ
    Edward J.
    27 March 2019 @ 11:59
    I loved the look on Grant's face when Ross switches the autopilot on.........hahaha
  • PB
    Pieter B.
    27 March 2019 @ 11:54
    Fantastic work Grant! Thank you very much!
  • MS
    Martin S.
    27 March 2019 @ 11:51
    Hey Grant you looked very uncomfortable, when Gerber started the autopilot :-D
    • IO
      Igor O.
      27 March 2019 @ 19:57
      Gerber - Do I look nervous? Grant to himself - I am!
  • LJ
    Liam J.
    27 March 2019 @ 11:51
    I thought this would be super biased to the short side because of grants view on tesla. Pleasantly suprised to see that it's not. Although I still think this is a pretty superficial view of what is going on. There are a lot of things that need to be factored in when it's comes to tesla. Politics play a big role with companies like this. And the pressure from environmentalist on governments worldwide is increasing everyday. So I think goverments will only support companies like tesla more and more even if the company is a complete financial mess. Elon is good at playing with politicians. I'm bearish on Tesla simply because i'm bearish on the nasdaq in general atm. Most companies in that index are overpriced
    • CB
      C B.
      27 March 2019 @ 12:09
      Electric cars are good for the environment. This is a statement but it is not a fact. Chris Martenson has done a fair amount of work to help viewers understand that electric cars are more fantasy than savior
    • AM
      Andrew M.
      27 March 2019 @ 12:16
      Tesla and EVs are more environmentally damaging than ordinary cars right now, and many of their drivers bought the car to virtue signal - i.e. Gerber referencing climate change in one breath, but saying he would never be caught dead driving a Nissan Leaf just before. You can find a good rundown here: https://www.dw.com/en/how-eco-friendly-are-electric-cars/a-19441437
    • AM
      Andrew M.
      27 March 2019 @ 12:19
      If you don't drive much or don't live in a country that is transitioning to green energy (Germany, Norway etc), then owning a regular car is probably more environmentally friendly. Or you can even take public transport, ride share or cycle or walk, if you're serious.
    • LJ
      Liam J.
      28 March 2019 @ 11:55
      Yeah sure i get your point Andrew. but it's the narrative of green cars and green energy that counts for the politicians. Sadly in the real world no one cares about numbers and facts. Narratives are stronger and tesla is good and strong narrative for politicians to support.
  • DS
    David S.
    27 March 2019 @ 11:47
    long puts for some nice risk reward!!!!
    • PC
      Peter C.
      28 March 2019 @ 02:57
      Can you be more specific especially given the high premiums, how long an over-valued company like Tesla can stay over value,....? Or what do you think about selling just out of the money bear call spreads?
  • AK
    Adam K.
    27 March 2019 @ 11:41
    A public version of this on YouTube would do wonders for the RV brand
  • PK
    Paul K.
    27 March 2019 @ 09:36
    Could you please make this public available? "The tent is my ah ha moment, Yeah that was moment we werent dealing with a serious moment"... It brought a tear to my eye, laughing.
  • LS
    Laurenz S.
    27 March 2019 @ 09:25
    Very nice breakdown. The hive mind wants to believe that tesla reinvented the wheel. They haven't. They made electric cars sexy and exciting again. I do not think they gathered enough moat to sustain these evaluations.