Tesla Launches Model Y in India at $66K

Social media's titans have been playing a high-stakes game of chess for years, vying for dominance and the attention of users worldwide. Twitter, an undoubted king of the bite-sized text content domain, may soon have to defend its reign against a challenger born from the heart of Meta Platforms Inc. This time, it's not a photo or video sharing platform that threatens the status quo but an audacious, new text-based app bearing Instagram’s DNA, set to shake up the text-based social media landscape. The revelation came via Lia Haberman's ICYMI Substack newsletter, which broke the news, offering the world its first glimpse of the proposed Instagram's text-based Twitter rival. Haberman shared details and what appears to be an unmasked marketing slide from the secretive project, inciting a buzz of anticipation across tech communities worldwide. Remarkably, the marketing slide did not christen the app with a standalone name. Rather, it humbly referred to it as "Instagram's new text-based app for conversations." The under-the-radar app, identified by its codenames P92 or Barcelona, has been taking form in the creative labs of Meta, as per Haberman's report.

22 Touko 20239min

Join The Investor Club > ⁠⁠⁠⁠https://stagezero.supercast.com/⁠⁠⁠⁠ Welcome to the Elon Musk Weekly Roundup, your daily source for the latest news and updates on SpaceX, Tesla, and Elon Musk's Twitter activity. In this episode, we'll be recapping all the episodes from this week and bringing you up to speed on the most exciting developments in space exploration and electric vehicles. From rocket launches to Tesla's latest innovations, we've got all the news you need to stay informed about Elon Musk's groundbreaking companies. And with regular updates on Elon's Twitter feed, you'll always be in the know about his latest musings and announcements. So join us every day for the Elon Musk Weekly Roundup and stay up to date with all the latest from one of the world's most innovative entrepreneurs. Don't miss out on the excitement – hit that subscribe button now!

21 Touko 202347min

In a potentially game-changing move for the electric vehicle (EV) industry, a delegation of senior Tesla executives is set to visit India this week. The visit, confirmed by multiple media sources, is intended to facilitate discussions with federal government officials, including representatives from Prime Minister Narendra Modi's office. The primary focus of these discussions will be the exploration of local supply chains for Tesla vehicle components. This visit could signal a turning point in the historically strained relationship between India and Tesla. The EV giant had previously attempted to penetrate the Indian market, even going so far as to form a local team and begin vehicle testing. However, the Indian government's refusal to make concessions on tax policy, coupled with its advice against Tesla selling China-made cars in the country, led to a stalemate. The delegation from Tesla will comprise senior executives and managers from the company's supply chain, manufacturing, and business development teams, based in Austin, Texas. It is anticipated that the executives will once again broach the topic of lower import taxes on their vehicles, potentially suggesting alternative solutions to the impasse. Recent reports suggest that Tesla has initiated discussions around building an EV factory in India. This news follows the company's announcement of the development of a next-generation platform and two new car models.

20 Touko 20237min

In a recent study conducted by the Pew Research Center, a surprising trend has emerged: a significant number of U.S. adults are taking extended breaks from Twitter. This revelation has sparked a flurry of speculation and debate, with many pointing fingers at Elon Musk, who took over the social media giant in October 2022. However, the data doesn't necessarily implicate Musk's leadership as the primary cause of this phenomenon. The Pew study, conducted over a week in March, revealed that 60% of U.S. adult Twitter users have taken a hiatus from the platform for several weeks or more in the past year. Given that Musk's tenure at Twitter has only spanned six months, it's unclear whether his influence has had any significant impact on this trend. Without historical data for comparison, it's difficult to determine whether this pattern of prolonged breaks is a new development or a long-standing habit among Twitter users. Interestingly, the data suggests that Twitter, unlike Meta's social apps, which boast 3.02 billion daily active users, hasn't managed to create an addictive platform that users feel compelled to engage with daily. Some Twitter users are avoiding the app for extended periods, according to Pew's data, which was collected from over 10,000 respondents.

19 Touko 20237min

Elon Musk, the charismatic and sometimes controversial figurehead of Tesla, has not yet identified a successor. This news is somewhat unsettling for investors who are aware of how integral Musk is to Tesla's identity and success. His leadership has guided the company through many triumphs and tribulations, making him synonymous with the Tesla brand. Given the influence and visibility that Musk wields, the lack of a clear succession plan is a matter of concern for many stakeholders. When asked about a potential successor during the Q&A session, Musk was somewhat evasive, stating that a succession plan would be addressed "at the appropriate time." Investors were hoping for a more concrete answer or at least a glimpse into the thought process. However, Musk's statement only adds to the uncertainty surrounding Tesla's future leadership. Nonetheless, in a surprising turn of events, a familiar face from Tesla's past, co-founder J.B. Straubel, is stepping back into the company’s orbit. Straubel, who parted ways with Tesla back in 2019, is making his return in an advisory capacity. Known for his crucial role in developing the Tesla Roadster and his instrumental part in creating Tesla’s first lithium-ion battery pack, Straubel's return is a welcome development for the company and its shareholders.

18 Touko 202335min

Elon Musk, announced that Linda Yaccarino, a well-known name from NBC Universal, would be the new CEO of Twitter. The announcement has raised questions, debates, and speculations about the future of the microblogging platform, which has seen a tumultuous year since Musk acquired it for an impressive $44 billion. Linda Yaccarino, an esteemed veteran of the advertising industry, is renowned for revolutionizing ad sales at NBCU through digitization and integration. Her experience and expertise will be put to the test as she now faces the daunting task of winning back advertisers who abandoned Twitter following Musk's controversial takeover. The Tesla and SpaceX magnate's tenure at Twitter has been marked by radical changes and intense scrutiny. Since taking over the reins, Musk has wielded the axe on a significant number of Twitter employees, dismantling in large part the trust-and-safety team. This team was crucial in maintaining the platform's integrity, combating the spread of hate speech, harassment, and misinformation. Musk, however, has deflected blame for Twitter's problems onto others, especially mainstream media organizations, which he views as untrustworthy and competitors for ad dollars.

17 Touko 20238min

The first sighting of Tesla's highly anticipated all-electric pickup, the Cybertruck, on the Lone Star State's public roads marked a significant milestone in the vehicle's testing phase. The sight of the Cybertruck's futuristic design moving away from its California comfort zone has sparked quite a buzz. This momentous occasion was first caught on video by vigilant Tesla enthusiast Dennis B., who shared the footage on Twitter. Historically, Tesla has favored the scenic routes of Northern California for public road testing, primarily due to the proximity to the company's former headquarters in Palo Alto. However, as Tesla has now shifted its production hub to the Gigafactory located near Austin, Texas, it was surprising to see the absence of the Cybertruck in the local vicinity. That is, until now. Over the years, Tesla has established a testing routine for its new vehicles gearing towards production, and the Cybertruck has been no exception. Even though the vehicle's production has been delayed, the automaker is evidently preparing for the first batch of Cybertrucks, anticipated to roll out as early as this summer and hit the customer driveways in Q3. This Texas sighting of the Cybertruck, away from a dedicated event, signifies a strategic shift in Tesla's testing pattern. Last week, Tesla CEO Elon Musk graced the groundbreaking event of Tesla's Lithium Refinery with the Cybertruck, creating quite the spectacle. Now, the testing is closer to home, where the vehicle's production lines are already humming at the Gigafactory Texas.

16 Touko 20239min

In the ever-unfolding drama surrounding Tesla's CEO Elon Musk and the U.S. Securities and Exchange Commission (SEC), the latest chapter sees the billionaire entrepreneur continue to grapple with the agency over his freedom of speech on Twitter. This skirmish follows Musk's 2018 settlement with the SEC, which requires his tweets pertaining to Tesla to be pre-approved by an attorney—a provision that Musk's legal team now seeks to overturn. The contentious relationship between Musk and the SEC traces back to the entrepreneur's infamous "funding secured" tweet in 2018, a declaration that sparked controversy, raised eyebrows, and attracted SEC scrutiny. An investigation led to Musk's agreement to let a lawyer, now known on the internet as his "Twitter sitter," review material Tesla-related tweets before posting. This agreement, however, has been a thorn in Musk's side and is now under appeal. In a bold move, Musk's legal team submitted a brief to the U.S. Court of Appeals for the Second Circuit in New York in September 2022, characterizing the agreement as a "government-imposed muzzle." They argue it unconstitutionally inhibits Musk's freedom of speech—a claim that the SEC fiercely contests, asserting that the agreement is both valid and constitutional. The ensuing legal battle highlights the tension between corporate accountability, personal freedom, and the power of social media in the corporate world. Interestingly, the appeal comes on the heels of a significant legal victory for Musk. A class-action securities fraud trial revolving around the same "funding secured" tweet ended with a jury exonerating both Musk and Tesla of any liability. This victory prompted Musk's legal team to contend that the jury's verdict should be factored into the appeal against the CEO's SEC settlement provision.

15 Touko 20239min