5 Takeaways from Tesla’s 2022 Shareholder Meeting

Elon Musk spoke at the 2022 Annual Shareholder Meeting on August 4th. I attended in order to experience the event firsthand so I could write about my impressions for you.

This article features highlights of what Elon Musk said about Tesla Gigafactories, AI, Cybertruck, Optimus robot, how we can help support the mission, and more.

Elon Musk at GIgafactory Texas, credit: Tesla

Elon Musk and Tesla, Inc. are grateful to you as a Shareholder

The Cyber Roundup was Tesla’s kind way of saying thanks to you as a retail TSLA shareholder. This year’s meeting was the largest in-person meeting ever and it provided an opportunity to see products up close, take a factory tour, and even speak with Elon Musk.

Towards the end of this article, I will share info with you on how you can attend in the future. Martin Viecha, Tesla’s Investor Relations, opened the meeting and he later joked on Twitter, “It’s not a Shareholder Meeting, it’s really a rock concert for TSLA supporters.” 

Cyber Roundup felt like this because it was a way for Tesla supporters to thank Elon Musk and Tesla directly.  This was evident as I observed many people cheering, clapping [sometimes standing], and even whistling after every informational slide, statement, or joke that Elon Musk made.  

A new way of thinking about a factory

Model Y front hoods as Art Installation at Gigafactory Texas, credit: the author

Cybernetics is a term coined by American mathematician Norbert Wiener to refer to the general analysis of control systems and communication systems in living organisms and machines. At the meeting, Elon explained how Tesla went from a small start-up to what it is today, with factories as a giant cybernetic collective,

“When we started out here, we were told electric cars were impossible and if you could make an electric car with a couple hundred miles range then nobody would buy it anyway because people just love gasoline cars.

You know, when we started out it was down to a start-up company and then down a square to an electric car company, and we were told you are never going to make money, etc. and we didn’t for a while, but now we have the highest operating margin in the whole industry. 

Tesla is not just a car company, Tesla is many companies in one and we’re as much a software company as we are a hardware company and that’s really going to be obviously essential for the future.

Software in the car, and in neural net training, but also software in the factory as well.

You can think of the factory as a giant cybernetic collective. So the factory is just an enormous cybernetic collective of humans and machines and software, and the better that software is, the better that cybernetic collective works. I don’t think other OEMs think like that! but that’s what it is.” Elon Musk at 2022 Shareholders Meeting

Tesla is close to solving an important part of AI and Welcomes Talented People to Apply 

Elon Musk shares the hands of the Tesla Optimus robot for the first time. credit: the author

Fully autonomous driving is an incredibly difficult problem to solve.  Elon‘s positive outlook at the meeting gives us hope that autonomy will be solved.  Elon stated, 

“It’s really interesting because we are effectively solving an important aspect of artificial intelligence, real-world AI for self driving, which, when you think about it, is what’s needed to solve self-driving because how was the road system designed?

Its designed for a biological neural net and eyes, and so naturally the thing that would therefore work for the silicon analog is therefore cameras and silicon neural net.

So, sort of by accident, we’re actually solving an important and very useful element of artificial intelligence.

I definitely want talented people who are working on AI to consider working at Tesla because I think we’re solving an important part of AI, and one that can ultimately save millions of lives and prevent tens of millions of serious injuries by driving an order of magnitude safer than people.” – Elon Musk

Elon Musk talks about upcoming products Cybertruck and Optimus

Cybertruck at Gigafactory Texas, credit: the author

On Cybertruck, Elon said,

“What I can say is that the Cybertruck will be one hell of a product, and it’s going to be like a damn fine machine, and we’re on track to be in production middle of next year from this factory. 

So we’re going to be installing the production equipment, the tooling and all starting the next couple months we will begin the installation so aiming to be in volume production middle of next year.” – Elon Musk

Elon Musk spoke about Optimus,

“I’m sort of surprised that people, or at least analysts out there are not understanding the importance of the Optimus robot. 

My guess is that Optimus will be more valuable than the car long term. 

In fact, I think it will turn the whole notion of what an economy is on its head. 

The point at which you have no shortage of labor.  You know, the economy is capita, if you don’t have capita constrain then the economy will be arbitrarily huge, so it’s crazy.” – Elon Musk 

The Mission to Accelerate the Transition to Clean Energy and How you Can Help

Tesla let shareholders sign a Model Y, credit: the author

The shareholder’s meeting took on a Town Hall vibe towards the end, where people formed two lines and were given microphones to ask Elon questions.  That portion starts at 51 minutes into the video, and it was delightful to experience.  A total of nine lucky people had the chance to comment, suggest, and or ask Elon a question. 

The last question was by a young man who said he simply wanted to thank Elon for everything he has done for the earth and the community and ask, aside from working for Tesla, being a shareholder, or purchasing a Tesla, how can the masses help push your vision? Elon replied,

“Well I think just generally encouraging sustainable energy and being supportive of that, I think is really helpful.

I say, you’re doing great so far! Without your support, Tesla wouldn’t be where it is.

Its people like yourself, and everyone in this room and out there and the 3 million people who bought our cars, and the millions who have gotten solar, that all really helps make the world a better place for the future. 

I’d like to sort of convey a message about optimism about the future. If we work really hard to accelerate sustainable energy and sustainable transport, the future will be good!

Just make sure people know that, I’m not suggesting complacency at all, I’m literally saying, if we work hard towards a sustainable future, we will achieve it!

And the future is bright!” – Elon Musk

CONCLUSION

5 Takeaways

  • Tesla goes above and beyond to show appreciation to shareholders, the Cyber Roundup was a unique event that was well planned out and a delight to attend in person.
  • Elon Musk is advancing the concept of a giant cybernetic collective, saying, “the factory is just an enormous cybernetic collective of humans and machines and software, and the better that software is, the better that cybernetic collective works.” 
  • Once again, Elon asked for people talented in the field of AI to consider applying to work at Tesla. Elon also said, “I think we’re solving an important part of AI, and one that can ultimately save millions of lives and prevent tens of millions of serious injuries by driving an order of magnitude safer than people.”
  • The exciting news about Cybertruck was that the production equipment will be installed in the next couple of months. About Optimus, Elon said it, “will turn the whole notion of what an economy is on its head.  The point at which you have no shortage of labor.”
  • Finally,  Elon thanked all of Tesla’s customers and shared a positive message about the future, “I’d like to sort of convey a message about optimism about the future. If we work really hard to accelerate sustainable energy and sustainable transport, the future will be good!”

As a Tesla shareholder, you can become involved by voting.  Tesla has shared information about how you can vote on their website

Tesla Investor Relations has shared that the new Tesla Shareholder Platform has been launched.  You can join the program to participate in Tesla events and receive updates about events by logging into your account at this link.

Tesla Semi awaits outside the doors of Gigafactory Texas, credit: the author

Article by Gail Alfar. Exclusive to What’s Up Tesla – All Rights Reserved. August 7, 2022.

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