Tesla’s value drops $60bn after investors fail to hail self-driving ‘Cybercab’

https://www.theguardian.com/business/2024/oct/11/teslas-value-drops-60bn-after-self-driving-cybercab-fails-to-excite-investors

11 Comments

  1. Remember the Roadster from 2017 that should’ve already been here? That was 7 years ago. Other manufacturers have already caught up and Tesla no longer has the first-mover advantage.

  2. New electric car companies are building open source software, so owners and mechanics can work on cars. Tesla is an Old Legacy Company with locked software, to keep owners and mechanics out.

  3. My son is 6 months old. He will grow up, live a full life, and die an old man before self driving cars are the norm. 

  4. You know why? After that reveal all the big investors are going to sell off stock in low amounts as fast as possible to cash out while the bag holders rush in thinking they are buying the dip.

  5. It was like watching a 10 year old trying to improvise a science project he forgot about on the spot…spouting weirdness and bs.

  6. CaliSummerDream on

    Would’ve meant something if they had used the percentage value of market cap, not the dollar value. Nvidia dropped $600B on nothing just a couple of months ago. $60B means different things to different companies.

  7. Meanwhile Waymo is actively in service in Phoenix, San Francisco and Los Angeles. Expanding to Austin by the end of the year, and Atlanta early next year.

    I’ve ridden several times in LA, it’s excellent. Musk Rat is late to the party.

  8. GeneralZaroff1 on

    Because it’s literally the same reveal and promise he made from back in 2019.

    “A $30k car that turns into a taxi to make you money, coming next year” was the Model 3 and Model Y.

    He updated the concept design, but investors have been waiting 5 years for the same product announcement, AND now there’s competitors like Waymo (Google), Zoox (Amazon), and Cruise (GM) already leapfrogging them in the market.

  9. HashtagDadWatts on

    All this crap and they could be selling model 2s like it’s going out of style. What a waste of development resources.