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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Get Ready, Elon Musk’s Magnum Opus is Coming!

Welcome back to my blog, I hope you’ll enjoy this week’s post. I’m posting most of Elon Musk‘s remarks given on April 7, 2022 at Gigafactory Texas at Cyber Rodeo.  The reason I am solely focusing on this is that I believe Elon’s words hold a lot of value. We all want a better future, and I hope reading this will inspire you to look toward a positive future for our world.  So relax and enjoy it and get ready for Elon’s Magnum Opus! 

Elon Musk at Cyber Rodeo with first production Roadster [photo courtesy Vinny Lingham]

Below is a transcription of Elon Musk’s words at Cyber Rodeo:

Welcome, welcome to Cyber Rodeo. Are you guys having a good time? 
We’re going to talk about the past, present, and future. This is the first production car Tesla ever made. It’s where we started. We started off with a very simple car, the Tesla roadster. We manufactured this thing, believe it or not, in an old car dealership in Menlo Park, California. 

We made the powertrain, Lotus made the non-powertrain portion, and we did the final assembly and check out, literally in an old car dealership in Menlo Park! And here we are today, damn! 

Elon Musk at Gigfactory Texas Cyber Rodeo
When we first started out at Tesla, I thought optimistically there was a 10% chance of succeeding. When people say car companies are dumb, I’m like “I know.” But, thanks to the incredible work of the Tesla team, over many years, we got here. 

So we now have, and it shows you where we are today, we’ve got the Model S, we’ve got the Model 3, we have the Model X, we’ve got the Model Y. We’ve got the most expensive joke in the world! But we did bring sexy back! 

Elon Musk
So we’ve got cars in major vehicle segments, we’ve got residential and commercial energy products. We’ve got powerwalls, Megapacks, yes, it’s insane! Thanks to the incredible work of the Tesla team, two thirds of the electric vehicles in the United States are made by Tesla and the hard work of the Tesla team.  This is Omead (Afshar). Omead has managed the construction of the Gigafactory here, thanks Omead! 

Elon Musk anounces that Full Self Driving beta may be released to all FSD customers by end of 2022

And we have full self-driving in Beta.  Does anyone here use the full self-driving beta? Great. You can really get a feeling for how much full self-driving is going to transform society. The car will be able to take you anywhere you want. Its ultimately ten times safer than if you were driving it yourself. It’s going to completely revolutionize the world. This is one of those things that comes along very rarely. The Tesla autopilot team and AI [Artificial Intelligence] team have done an incredible job solving real-world AI. We are aiming to go to wide beta for all FSD customers in North America this year. [applause] To the moon!

Giga Texas ushers in the new phase of Tesla’s future

This is now our sixth major factory. We are now on three continents. It’s great to have two major vehicle plants in North America. So, an Austin factory, and China, and one in Europe that I was just at recently. This is going to be a huge improvement for Tesla. It’s also going to be better for your environment. You want to make the cars for where the customers are, and not put them onto ships and over the oceans. It’s going to be way better to make cars locally. We are really entering a new phase of Tesla’s future, with six giant factories around the world, and scaling to extreme size, as you can see from this building, it’s not small. And this is also Tesla’s global headquarters. 

Why Austin? Actually, I asked the Tesla team. California’s great, we’re continuing to expand in California, but we ran out of room and so we need a place where we can be really big.
And there’s no place like Texas! 

Elon Musk
Gigafactory Texas Render [credit Tesla on youtube]

Elon Musk thanks Austin, Travis County, and all the builders

Here we are, we are 10 minutes from the airport, 15 minutes from downtown, a central logistics hub, and we’ve got access to awesome talent. Thank you Austin, thank you Travis County! 

It wasn’t easy building this humongous building and getting all of this equipment here. I just cannot express enough appreciation and gratitude for the Tesla team that built Giga Texas. let’s give them a hand! We went through the deep freeze, rain, quicksand, and incredibly fast build, it was very difficult, but it’s done.

I just cannot express enough appreciation and gratitude for the Tesla team that built Giga Texas. let’s give them a hand!

Elon Musk

Giga Texas is the machine that builds the machine

I want to give you a sense of the size of this thing. It’s not small. What we have here is, if you put the building on its side, it’s taller than the Burj Khalifa, that’s to scale. It’s equivalent to three pentagons. When a building is measured in units of pentagon, you know it’s quite large! This is the largest factory building in the world by volume. How many hamsters fit in it? [yells someone in the audience] I’m glad you asked that, according to our calculations, 194 billion hamsters could fit in this building!  

This is the machine that builds the machine, and it’s the latest version of the machine that builds the machine. I’ve said it before, that the factory is the product. You know, prototypes require imagination, and they’re not easy, but relative to production, prototypes are easy. Production is hard. And this building is the most advanced car factory that earth has ever seen. Alien Technology. You know a factory is advanced if it feels like an alien dreadnought landed!  

The team is doing great work in Fremont, California, but we took a lot of lessons and learned from that. The buildings were all separate, there was a lot of movement between the buildings, Think of us like a chip, an integrated circuit. You combine everything in one package, and now this is what you get. 

This is a case of raw materials coming in one side, they get formed into a cell, they get formed into a pack, then we cast the front and rear body.  The pack itself is structural, and the outcome is a finished product. So it’s raw materials in one side, and cars out the other side.
We’re building our own battery cells, we think the most advanced cell in the world, here at Giga Texas. All the footage you see here is from this factory and we think, over time, this will be the biggest cell factory in the world. 

Revolutionary manufacturing: Making a car out of three major parts

Largest casting machine ever made [photo by Gail Alfar at Gigafactory Texas]
Another major innovation is the structural pack. So we are basically bringing into fruition the things that we said we would do. We said we would basically make the car out of three major pieces. A real body casting and a structural pack with the cells themselves carrying the load. 

Just like in airplanes where the wing is a fuel tank in wing shape, with the new Model Y architecture, the cells themselves carry the load. And that results in a car that is lighter, has a smaller number of parts, costs less, and improves the crash performance. 

Its a safety advantage too. As I was saying, its revolutionary for car manufacturing to basically make your car out of three major parts. A cast rear, a structural pack, and a cast front. 

What you are looking at is the biggest casting machine ever made [see above photo]. And it’s kind of a crazy thing to make a car this way, it’s never been done before. When we were trying to figure this out, there were six major casting manufacturers in the world. When we called all six, five said no, and one said maybe. I was like, that sounds like a “yes!”  It was a lot of effort and great ideas from the team. We’ve made the world‘s biggest casting machine work very efficiently to create and radically simplify the creation of the car.  Raw materials in, a bunch of stuff happens, and then car out. [audience screams, 'if you don’t make stuff there is no stuff']  Yes exactly, if you don’t make stuff there isn’t any stuff.
We are aiming, just with the Model Y program alone, to get to ½ million units a year and then we’re going to start manufacturing Cybertruck here next year. The Model Y line will be the highest capacity line, I think, of any line in the world. In fact, I’m confident it will be. Half a million units per year in a single factory of one product is the biggest thing in the world. Definitely, this will be the highest volume car factory in America.  

Cybertruck always looks like CGI in real life, but that is not CGI, that is an actual Cybertruck driving around. I can’t wait to have this baby in production, it’s going to be epic!  

Tesla has a long road ahead

Elon Musk explaining bar chart showing Tesla has 1% of total vehicle output in the world [cr: Tesla]
Tesla is growing at the fastest pace of any large manufacturing object in history. In twelve months, we’ve delivered over a million cars worldwide. 

Now that said, there’s still a long way to go because that red bar chart is Tesla and then the blue is global vehicles. So you can see, even though we did one million cars in the last twelve months, we’re still maybe, a little over 1% of total vehicle output in the world. We want to try to get to, I don’t know, about  20% or as much as we can, to move the needle. 

This is why scale matters. In order to make a really big difference to sustainability, we have to make a lot of cars, we have to make a lot of stationery packs, to transition the world to sustainable technology as quickly as possible. 

What’s next? Futuristic Robotaxis and an Age of Abundance

Sunset Optimus by Ryan on Twitter
What’s next?  I’m not going to spill all the beans right now. What I can say, is we’re going to move to just a truly massive scale. Scale that no company has ever achieved in the history of humanity. 

That has to happen, in order to transition the world to sustainable energy. Massive scale, full self-driving, there’s going to be a designated Robotaxi that’s going to look quite futuristic. 

And, of course, we’ve got the Tesla robot, Optimus and this is, I think, Optimus will obviate what an economy really means. Basically, anything that humans don’t want to do, Optimus will do it.

It’s going to be an age of abundance. It may be hard to imagine it, but as you see Optimus develop, and everyone will make sure it’s safe, no terminator stuff or that kind of thing, but it’s really going to transform the world, I think to a degree even greater than the cars. And, I think we have a shot at being in production, for version one of the Optimus, hopefully, next year.  And then Cybertruck is coming next year.  We will be in production of Cybertruck next year. We will be in production with the Roaster and with Semi. So, that’s all coming. So this year is all about scaling up, and then next year there’s going to be a massive wave of new products. 
And now, let us deliver our first Tesla cars made in Texas! [numerous Model Y drive onto the stage]

Elon Musk Calls Cybertruck his and Franz’s Magnum Opus – A Masterpiece, the greatest work of a person’s career

Cybertruck drives onstage, “What have we here, Franz, is there anything you want to say about the Cybertruck?” says Elon.

“Cybertruck is going to be awesome, I mean you see it here, you’ve seen it before, you’ve seen it over there [points] it’s worth the wait, believe me. There is no other truck, everything else pales in comparison. This is the only one you need!”  says Franz

“I think this will be our magnum opus, you can see some of the changes we made already, there are no handles. Who needs handles? The car can tell that you’re there, and it just knows that it needs to open. I think we’re going to have an incredible Cybertruck product for you next year. it’s going to blow your mind. 

“I can’t wait to build this here and deliver them to you, sorry for the delay. It’s been an intense couple of years but we’re gonna have this for you next year, and it’s going to be great. Its, going to be one kick-ass product after another. Starting next year, and then, some cool stuff that we haven’t even talked about, so let’s see, thanks again for coming. 

“I hope you’re having a great time. Here at Tesla, we believe in throwing great parties. So, let’s get this party started! Have a fantastic time tonight, I love you guys! 

Royal display of Fireworks by Tesla to Beethoven’s Symphony No. 5 and No. 9, Allegro Con Brio and Ode to Joy [photo by Gail Alfar at Gigafactory Texas]

Cybertruck drives off stage with Elon Musk and Franz von Holzhausen. This is accompanied by a royal display of impressive fireworks. The music choice is loud and important-sounding: Beethoven’s Symphony No. 5 Allegro Con Brio followed by Beethoven’s Symphony No. 9 in D minor, Ode to Joy.

My thoughts

Elon Musk’s celebration was larger than life for a good reason. The impact on our world by Giga Texas and its processes will be epic. The road ahead is very long and difficult. The beautiful inspiration of Cyber Rodeo will remain in our hearts for many years to come! I am thankful I could attend the event in person. It will take weeks to process the deep resonance of the event. That will come with time. I look forward to sharing more soon. Meanwhile, enjoy your beautiful life!

Want to read more excellent articles? I suggest…

Gail Alfar, Exclusive to What’s Up Tesla – April 10, 2022 –  All Rights Reserved

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Tesla Q4 2021 Earnings Call and the Long Road Ahead

Hello, I’m Gail Alfar, a Tesla owner in Austin, Texas. I love to share good vibes about Tesla, Giga Texas, Tesla China & Tesla Solar. I really do believe our future is bright! I recently rented a shared office space to start “What’s Up Tesla,” and a funny thing happened to me.

Have you ever been locked out? I went into a secret room that was filled with beautiful art. The door locked behind me and I was forced to exit the area. Outside, the hallway was empty, except for a Pepsi someone had left sitting on the floor. Eventually a stranger came along and unlocked the door. “You need to get back in, there’s lots of work to do.”

His words reminded me of why I am writing this blog. I have to do more to support the mission of Tesla and Elon Musk, as there is still a very long road ahead.

“While 2021 was a defining year for our company, we believe we are just at the very early stages of our journey. Thank you for being part of it.”  Tesla
Tesla Giga Texas (Source: Tesla Q4 and FY2021 Update)

October 7, 2021: Tesla Headquarters is officially Austin, Texas. Elon Musk announced this historic move at the Tesla 2021 Annual Meeting of Stockholders.

January 26, 2022: Tesla Q4 and Full Year 2021 Financial Results are a game-changer, revealing that making electric cars is actually more profitable than making combustion engine cars!

“2021 was a breakthrough year for Tesla. There should no longer be doubt about the viability and profitability of electric vehicles. With our deliveries up 87% in 2021, we achieved the highest quarterly operating margin among all volume OEMs, based on the latest available data, demonstrating that EVs can be more profitable than combustion engine vehicles.”  Tesla

My view is that 2021 was the year for Giga Shanghai and the Fremont Factory to shine! The two factories had a combined record number of vehicle deliveries of 0.94 million in 2021. For comparison, these same two factories produced and delivered 0.5 million vehicles in 2020. 

Elon Musk acknowledged Tesla will build more Gigafactories in addition to Giga Texas and Giga Berlin-Brandenburg [locations may be announced by the end of the year]. On the one hand factories should ideally be close to customers. On the other hand, it is so critical to build gigafactories, that I argue there should be a second ultra fast and efficient gigafactory in China.

Tesla allowed us a view into the assembly line in Giga Texas. We see Austin Model Y seats being mounted on a structural battery pack. This shift in manufacturing means all Tesla Gigafactories can produce vehicles even faster [and more profitable] with less parts. This is part of Tesla’s winning plan to accelerate the world’s transition to sustainable energy. Make no mistake though, this was and still is a painfully difficult journey for Tesla!

“Prototypes are easy, production is hard.” 
Elon Musk
Gigafactory Texas- Attaching Seats to a Structural Battery Pack (Source: Tesla Q4 and FY2021 Update)

I used to think that a “Financial Result” meeting should only be about Tesla’s hardcore production and profitability. Now I wholeheartedly endorse allowing Elon Musk to speak in order to draw listeners into imagining a wonderful world of the future. 

Allow me to share a futuristic scenario I envisioned after listening to Elon Musk speak at the “Full Year 2021 Financial Results” meeting:

Here, all vehicles are fully autonomous, so imagine for a moment a world filled with  Cybertrucks, Model Y and many other EVs in their most durable forms, all capable of driving almost 24/7. The cost to get from one place to another is low, and people prefer to use entertaining Robotaxis. Its rare to see anyone owning a personal vehicle. 

In crowded places, there are tunnels beckoning people underground, and away from the traffic up above. Many tunnel entrances are repurposed parking lots or garages. People wonder why there were so many of these strange things built. 

Everywhere, we see friendly Optimus humanoid robots. Optimus are doing almost any kind of menial task, or any task that takes place in uncomfortable situations or temperatures. 

As news headlines proclaim a human labor shortage, Tesla Gigafactories roll out large numbers of Optimus. These kind, sentient humanoid robots help to ease the labor shortage, and propel the economy into a stable place. Optimus helps build Tesla HVAC and hot water systems. They even help install systems in homes. 

"I've designed your home now for maximum efficiency and comfort, test it out and let me know what you think, see you tomorrow as I must go get recharged at the local solar-port Megapack," declares Optimus while climbing into a Robotaxi that has gently pulled up playing Sandstorm on the boombox.

Thanks for reading my first blog post. I’m looking forward to creating interesting takes on Tesla to share with YOU most Saturdays! Listen to the entire Tesla Q4 and Full Year 2021 Financial Results here. 

By the way, I drank that Pepsi and I still have the bottle, just to remind myself not to get locked out again.

Photo by Tomek Baginski on Unsplash

Want to read more excellent articles? I suggest…

Gail Alfar, author. Exclusive to What’s Up Tesla – January 29, 2022. All Rights Reserved. My goal as an author is to support Tesla (the most American vehicle manufacturer) and Elon Musk in both making life better on earth for humans and becoming a space-fairing civilization.

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