Elon Musk | Updates on Dogecoin Crypto & The American Recession
So you know not all that significant um, i also uh bought some dogecoin and tesla accepts dogecoin for some um merchandise and spacex will do the same and um, and i intend to personally support a dogecoin, because i just saw a lot of people who are not That wealthy, who you know, have encouraged me to fight and support those coins so im responding to those people, just people that ive walked around the factory at spacex or tesla. Theyve asked me to support dogecoin, so im doing stuff, because dogecoin, i think, has come down a lot, its down about 80 90 or its down a lot and thats the reason why you, you came out and said that you still thought there was value there. I said i support earthquake and i am doing that and i ask you one last question: is i noticed that you youre going to um unleash a humanoid robot to be unveiled on september, the 30th um. I wonder if theres anything more, you could tell us about that. Well, i hope that we will have an interesting prototype to show people um, but were a very talented team at tesla that im working with closely to have a prototype, humanoid robot ready by the end of september, and i think we are tracking to that point so That and therell be a few other exciting things that we talk about at the tesla ai day, but i i really want to you know we have these sort of ai day events to just emphasize that tesla is a lot more than a car company and that We are, in my view, the the leading real world ai company that exists um.
I think i think we should be concerned about ai and – and i said for a long time that i think there should be – ought to be an ai regulatory agency that oversees um, artificial intelligence uh for the public, good um and i think uh, just as theres Anything that for anything that where there is a risk to the public, whether thats, a the food and drug administration or federal aviation administration, federal communications commission, whether its a public uh risk or public fitted state uh there. Its good to have sort of a government referee and a regulatory body, and i think we should have that for ai and we dont currently, and that would be my recommendation. First of all, id like to say uh, your highness, your excellencies and distinguished guests. Thank you very much for hosting me, virtually um its an honor to be here or be there virtually um and um. I actually wish i could be their proposal so with respect to the twitter transaction theres a limit to what i can say publicly, given that is um somewhat of a sensitive matter um. So i i will actually be measured in my responses here. Um such as not to generate uh incremental lawsuits. Unfortunately, that seems to be a risk you sometimes manage to overcome. Yes, a deposition minimization is, i think, important. Um. Have you have twitter, given you enough information? Well, there are still um a few unresolved matters.
Uh youve youve probably read about the question as to whether the number of um, fake and spam users on the system is less than five percent as twitter claims um, which i think is probably not most peoples experience uh on when using twitter um so were still Awaiting resolution on that matter, um, and that that is a very significant matter so were awaiting resolution on that um and then, of course, uh. There is the question of uh: will the uh the debt portion of the uh round uh come together and then will the shareholders vote in favor? So i think those are the three things that um uh stand in the uh. You know if that need to be resolved before uh. The transaction is complete. Well, i think a recession is inevitable at some point as to whether there is a recession in the near term um. I think that is more likely than not uh. It certainly isnt its. Not a certainty but um, it appears more likely than not well. Twitter does not uh operate in china, so um and i think uh china does not. Uh attempt to interview interfere with the uh free speech of the press in the us uh. As far as i know, i i assume youre not under pressure to at bloomberg, to uh from china, so i think theres um. I dont think this is gon na, be an issue. Well, i my aspiration for twitter or in general for the digital town square would be that it is as inclusive in the broader sense.
The word as possible, um about it is. It is an appealing, uh system to use um. So i mean ideally id like to get like 80 of uh thats in north america, and perhaps i dont know half the world or something ultimately on on twitter in one form or another, and that means that means it must be something that is appealing to people. It obviously cannot be a place where they feel uncomfortable or harassed or theyll simply not use it, so it um and i think, theres theres this big difference between freedom of speech and freedom of reach. Um in that one can obviously lets say in the united states. Go in the middle of times square and pretty much yell anything you you want and you you know: youll youll annoy the people around you, but but youre youre kind of allowed to just sort of yell. Whatever you want in in you know, a crowded public place more or less uh. Apart from this is this is a robbery, probably that would get you in trouble, um, so uh, but but then that that whatever you say, however, controversial does not need to then be broadcast to the whole country. So i think generally, the approach of twitter should be to let people say what they want to do within the balance of the law, but then limit the you know who sees that, based on the any given twitter users preferences. So if your preferences are to see anything uh or read, anything then well youll get that, and but if your preferences are well, you prefer not to see uh.
You know comments that you find offensive in one form or another. Then you you can have that as a setting and not see it and uh, but i think one way or another. It one needs to take the steps that uh and that that entice most people to want to be on twitter and enjoy it and find it informative and entertaining and funny you know, and just something and useful uh as useful as possible um. Well, i i would drive the product um, which is what i do at spacex and and tesla um. So i drive the product technology uh, whether im that when im called the ceo or something else, is much less important than my ability to drive the product in the right direction. I have to say that i am very impressed with the the companies and the car companies of china, just in general, with companies in china. I think theyre extremely competitive, um, hard working and smart and – and i think theres going to be just a massive wave of chinese products going out into the world um there already are but um. You know, for example, i think almost all the iphones are made in china um by contract manufacturers for apple um, but i think well see just a large wave of products being exported from china in many industries. Um, you know electric in electric cars: do they have an advantage at all yeah yeah? No, i i do think.
Well, i should say from tesla perspective we dont really think about other competitors. Our constraints are much more in raw materials and and being able to scale up production um. So our constraints are not um imposed upon us by competitors, but rather uh the just imposed upon us by the realities of of the supply chain. Um and building up a manufacturing capacity, so um i mean, as anyone knows, who has tried to order that order at tesla. The demand for our cars is extremely high and the wait list is long. So our and – and this is not intentional – it we are increasing production capacity as fast as humanly possible, so uh thats so relaxed. We really dont think about competition at all. We just think about how how do we address the uh limiting factors in the supply chain and in our own industrial capacity? Basically, we need to build the factories faster and then we need to look ahead to whatever the choke points are in the whole, lithium ion battery supply chain, from mining and refining to catheter, nanoproduction and cell formation. Yes, um, so tesla is reducing the salaried workforce by roughly 10 um over the next, probably three months or so um the uh. We expect to grow, as our um hourly workforce uh its quite clear that we expect to grow our hourly workforce. But we grew very fast with on the salary side and we grew a little too fast in some areas, and so it requires a reduction in salaried workforce and were about two uh hourly and one third salary.