Tesla Inc (TSLA)

[boston745]

The scam behavior continues. If rising price reflects a better product then a dropping price means desperation?


Elon Musk slashes price for Tesla’s vaunted self-driving tech by a full third—FSD now costs as much as in 2020

Rolled out to a select few three and a half years ago, the highly anticipated beta gave Musk the opportunity to hike the cost of FSD to $10,000. He would continue to urge his loyal customers to buy FSD, since the longer they waited, the more it would cost them. 

That’s because Musk repeatedly claimed the price would go up the better the software got and the closer FSD came to driving without human supervision, at which point, he boasted, it would be worth over $100,000. Initially he also kept his word: Two subsequent hikes, which culminated in a record increase to $15,000 in 2022, were pushed through despite no substantive progress having been made. 

The issue was that take rates had plummeted after customers broadly gave up on his annual promise of a breakthrough next year. He had to resort last month to compulsory trials when new owners picked up their car for the first time. Attempts to license the technology to rival carmakers also collapsed, he admitted in January.

In a way, Musk has given up on FSD as well. In what appears to be an acknowledgement that existing owners will not experience their cars turning into robo-taxis overnight—what Musk called Tesla’s “ChatGPT moment”—he opted to simply end the beta test in favor of calling the software “supervised FSD.” This opens up the chance to recognize nearly $926 million in deferred revenue

How is it more people arent calling Musk and Tesla out for this fake it until you make it scam behavior? Oh right the stockprice hasnt collapsed like Theranos so the con keeps going...At least theres a few mainstream articles alluding to the con. Recognizing the revenue helped prop their financials up.

it was arguably a referendum on “fake it till you make it” practices, such as intentionally overstating, and thereby misrepresenting, a fledgling company’s current capabilities, success, or profitability, while banking on the notion that its aspirations will eventually follow the desired trajectory and become a reality.

https://fortune.com/2024/04/22/elon-musk-tesla-price-cuts-earnings-fsd-supervised-full-self-driving-beta/
https://corpgov.law.harvard.edu/2022/01/30/theranos-the-limits-of-the-fake-it-till-you-make-it-strategy/