TSLA 适合长期持有，其动力来自 AI/robotaxi 的进展，并受到潜在 SpaceX 合并的保护。

So, you've got the latest sentiment data on Tesla. Oh , for investors who bought this stock a year ago, and for those who bought it at the beginning of this year, they are feeling uneasy.

What does the latest sentiment data look like ? They feel paranoid, yes. But what about those who bought it about 6 weeks ago ? Oh, you know, that was a rather controversial stock.

I mean, it stirs up a division of opinions. People love him or hate him just as they love or hate Musk.

Oh, and as you know, the data on it is very strong. I mean, we have strong order numbers. We have amazing satisfaction numbers .

Oh, and you know, it really depends on how you define Tesla? Is it a car company? If so, it is valued at a much higher price than its true worth. Oh, you know, what is the price-to-earnings ratio? Many times higher than its competitors.

Oh, so I don't think anyone still judges it on that basis. They see a lot of potential in all artificial intelligence applications. And this, as you know, is probably one of the best , if not the best, companies in applying artificial intelligence.

I mean, mostly, when you talk about artificial intelligence, it's on your desktop and you're working with it, processing files and things like that. This is a realistic thing, with full self-driving, autonomous driving, and Optimus being launched.

So , this is what artificial intelligence can do.

I think it really does explain that . And when we look at what Tesla does in general, consumers love it again. Oh, it seems some skeptics hate it, but satisfaction is extremely high, and when you look at the car company itself, I can clearly see some hesitation.

Oh, you know, they had good delivery numbers a while ago, and then not so good numbers recently. They have started rolling out robot taxis in Austin, and I believe they have about 45 " cyber cabs" in the fleet.

They probably have 600 Model 3s, but Cyber ​​Cabs are kind of the future.

This is the real key. When you look at the number of vehicles they have and compare it to Waymo, you can see the graph here, which shows the size of the fleet.

Now, most of those 600 vehicles are Model 3s. Those are not " cybercab" vehicles yet, i.e., those that do not have a steering wheel.

But as you know, you can see that Waymo has made tremendous progress in terms of the number of vehicles, but growth is, you know , that's the key. I mean, there will be tremendous growth. Tesla will produce these vehicles much faster.

I believe the cost of manufacturing one Waymo vehicle is $150,000. As for the "CyberCap", it costs $30,000. So, they will push it hard, and beyond that, if you look at the number of miles traveled, the difference is quite astonishing.

The fully autonomous driving system has covered more than 14 billion miles, all of which feeds an artificial intelligence engine that makes smart decisions and learns how to drive in a more human- like and safer way than humans .

Therefore, their progress in mileage is incredible and constantly increasing. This is the key, in my opinion, to their superiority over Waymo in the field of robot taxis and CyberCab.

I think this is a very positive sign , because when you look at one interesting data point , which is the number of Uber and Lyft trips used in cities where self-driving is available, we find that they are declining sharply.

It's crazy. I mean, you can actually order these vehicles for about half the cost of Uber or Lyft . Confidence will come after the first trip, as you will find that things are going well.

The first time you ride something without a steering wheel and no one driving it, it may seem a little strange . You can hold on to the sides of the seat a little. But as that confidence grows , I think it will become more and more natural .

I truly believe this is a big problem for both Uber and Lyft. Furthermore, we have not yet addressed the energy aspect, which is a very strong aspect. I mean, it's growing noticeably.

As well as the "Optimus" side , which is a project for the future. Perhaps this is what makes me most optimistic about Tesla: the " Optimus" program. So, they have a lot of good things working in their favor.

As usual, it's all about the future, isn't it ? I mean, that's how Tesla has been for 15 years, just waiting for what's to come next. Just waiting to see what comes next.

He promises, you know, a level of 100, then delivers a level of 70, and everyone was expecting a level of 20. He exceeds expectations, but he doesn't quite reach what he promised.

But he continues to make fantastical promises, and I think that as this continues and we see more of these promises almost come true and the transformations that take place, I think Tesla will become an amazing company over the next five or ten years.

It will change a lot of things. Just, you know, ride-sharing services , transportation provision, and also , you know, there are robots actually working in factories, and robots in homes. It will be really interesting.

But data, I know I've gone a little off- topic. The data is strong. I mean, as I said, consumers have high demand and very high satisfaction levels. People love it. We have a lot of conversion data where people are experiencing full autonomous driving for the first time, not completely autonomous driving, but full autonomous driving, and are impressed by it.

I mean, this is where they start talking about buying one for my son who just got his driver's license, or for my slightly older father. These population groups are ideal targets for fully autonomous driving, and this leads very naturally to the Cybertruck.

Landon, I kind of wanted to touch on full autonomous driving; the amount of data they've collected from drivers over the past ten years has grown exponentially. Will that be the key to moving forward, since the regulatory side, as you know, will impose strict restrictions?

If an accident were to occur, you know, while using the fully autonomous driving system or in one of the Cybertrucks, it would be subject to intense media scrutiny , yet it's still a hundred times safer than my neighbor driving around the streets of Chicago here because he's a terrible driver, isn't he ?

So, will this be an obstacle for the company in the future?

Do you know what's crazy about it? I think it really matters which political party takes power during all of this, which is unfortunate to say, but I think that's the reality right now.

I think that if the election had gone in a different direction, Elon Musk and his companies would be under much more scrutiny than they are now, and I think that at the moment they would have a greater chance of getting a reasonable hearing, so to speak.

This can of course change at any time, as there are elections coming up very soon, so everything is subject to change. Unfortunately, he has become somewhat of a political figure , and there are those on the Democrats’ side who are targeting him more .

If they gain more power, I think it will be a problem for him and the company.

So, honestly, if you look at it from a shareholder's perspective, I'm betting on the outcome of the November election. But yes, this is essential. I mean, you can't get past the regulatory aspect, and you're absolutely right because it will be safer.

It will be a hundred times safer, but an accident involving full self-driving will still occur, whether it is at fault or not. That doesn't matter.

If someone is using full self-driving technology and a bad accident occurs, everyone will attack that technology. As you know , they will ignore all the drunk drivers or reckless drivers who cause all kinds of accidents every day.

But that is the incident they will focus on. Therefore, it might be difficult. I don't know .

I don't want to try to predict the political landscape, but it is certainly a major unknown factor, so to speak. But again, he kept pushing the boundaries , not asking for permission, just building great things.

Ultimately , you will need to get that approval, but if you already have a billion miles of experience in fully autonomous driving when they start evaluating it, that will make things much easier than starting with very little experience .

So, I am optimistic, but I am also realistic. I realize how quickly things can change in the political landscape. Okay, let's put that aside. Let's talk about "CyberCap" and the future path from here.

Is this intended for investors who entered this field at the beginning of this year or a year ago? Is this what they should be looking for? Is it a matter of patience here?

We know, as you pointed out, that he is striving to achieve the impossible. It literally does that when you think about SpaceX, for example. So, when you think about it, is it just a matter of patience here?

I think it's about patience, and I think as an investor, if you could go back in time online to see what people were saying 10 or 15 years ago . I mean, Tesla haters have existed since the beginning of time, and they've been wrong for 15 consecutive years.

So, don't put yourself on their side. You need to think long-term, what is the vision? What has been accomplished? What's next ? I think Cybercab and its self-driving taxi platform will be a very strong motivator for the company.

This will serve as a major warning to Uber and Lyft shareholders . It would be amazing for the company. I think they will capture almost all of that market share. And you can't forget " Optimus," which is still in development for the distant future.

It looks even stranger than a self- driving car. But you don't have to think about having an "Optimus" in your house at first. Think of it in a factory, a work environment, or a restaurant kitchen to perform some tasks.

I mean, there are many places where it can be found without it seeming strange at first. He can simply do the job that is required. So, once it gets up and running and performs as planned, I think it's targeted at around $30,000 per unit .

I believe all of this will create abundance and wealth, and will be great for the economy, and a very strong win for Tesla shareholders. But yes, you have to be patient.

Think back to the past, a long time ago, when we said we would build an electric vehicle faster than an internal combustion engine , right? We will build an electric vehicle that can drive itself.

All these things seemed impossible at the time, and now they are actually happening.

So, you know, you just have to have some faith and hold on a little longer, but for now, just look at the record of achievements . That's why I'm so optimistic; it's simply a record of achievements and vision.

So, you know , I don't want to sound like I'm being overly impressed, but this is one of those Likefolio companies we're keeping forever. We only have a few of them, and they are companies that we believe you can buy and keep forever.

The other point is that you know, you have SpaceX there with billions of dollars. There is always that possibility of merging. So, this may be an exaggeration, but it's more like Tesla shareholders have a sell option, right there at an unknown strike price , where if the price drops enough, a merger with SpaceX will happen .

Therefore, this is always considered a form of protection. I don't think it will be at the 300 level, it may be lower, but I know it's a good thing to have it, that you have this other company controlled by the same people and that could merge in the future.