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The Hyperloop was never meant to be built. Elon Musk admitted it was all about fueling opposition to California’s high-speed rail project so it would get canceled.
He never planned to improve transportation; he just wants to keep people trapped in cars.
https://newrepublic.com/article/174089/big-tech-watching-drive
#tech #transport #elonmusk #transportation #hyperloop #trains
I think that @SJ_Zero@lemmy.fbxl.net was referring to the fact that a large portion of Musk’s net worth is tied to the Tesla stock price. The age of easy money that the US economy has been living in for most of the past 15 years has led to many stocks to greatly explode in value much farther beyond what makes sense at a fundamentals level; Tesla being one of the most egregious examples.
Look, YouTube has made a lot of shit decisions in regards to the design of their site, and their abusive stance towards adblockers recently. I trust them about as much as I can throw them.
However, your web site is just scraping data from YouTube and stealing bandwidth to provide your own front-end, and it doesn’t even have comments. It will be doomed to fail as soon as Google gets around to cracking down on such interfaces. I would prefer to just post YouTube links without this stupid bot pushing a web site that nobody heard of until the bot was created and spammed Lemmy.
A few different things including what you’re talking about.
Tesla would be one of the smallest car companies if you actually went by the fundamentals of the company though, and instead it has a market cap so high it covers the entire world’s car industry combined.
But stocks always look at where a company will be, not where it is now. Traditional car manufacturers have been stagnating for decades, so confidence isn’t very high there.
If you look at EV sales, Tesla had a 68% market share. (in 2022) If an investor thinks EVs are the only vehicles that will really be around in a few years, that value may be justified.
Markets have gotten a lot of things wrong in the past 20 years since the amount of money in the monetary system is distorting asset values and causing bubbles. FTX and Theranos being two great examples, but far from the only ones.
I said this a few years ago but it’s becoming increasingly true now: If EVs become the hot new thing, I fully expect traditional automakers to come out on top. Particularly companies like Toyota who are really really good at building cars.
Thing is, it still isn’t totally clear that EVs in the form of the traditional automobile will be the best thing. There’s a good chance that all the major unsolved problems with them will cut the technology off.
It’s funny you mention Toyota, since they’re lagging particularly far behind even other traditional automakers when it comes to battery electric vehicles. (Some executive was biased against them or something, so Toyota’s spent the last decade trying to push hybrids and fuel cell EVs instead.)
I think that there’s a reason for it, and I think that that reason is that they’ve been selling battery vehicles for 25 years and they know full well that there’s going to be major problems.
The reality is that until maybe this year or the year before, these were expensive toys for the 1% to show off about how virtuous they are with their $100,000 sports cars that were saving the planet.
Traditional auto makers only know how to make the frame, suspension, and interior. Engine and transmission knowledge doesn’t help. You need to know battery management and motors instead.
What unresolved problems? 10 million were sold last year, seems like we’d have seen the problems by now.
Toyota in particular has been dealing with battery management and motors for 30 years. They’ll be fine.
Unresolved problems of EVs include extreme cold performance without a heated garage, battery degradation and the massive social, economic, and environmental consequences as people end up with useless used cars you can’t fix, grid problems in the event of mass adoption, and the realities of longer distance travel in a car that takes a long time to charge.
Unresolved problems of EVs include extreme cold performance without a heated garage
Diesel engines also have extreme cold issues solved by block heaters. Similar solututions already exist for EVs.
battery degradation
Parts on anything mechanical will degrade. This isn’t unique to EVs. Yeah you will have to replace parts on an EV like on any other car.
the massive social, economic, and environmental consequences as people end up with useless used cars you can’t fix
I think you’re underestimating people’s ability to adapt and learn how to fix new technologies. Someone that only knew how to fix saddles probably thought the automobile would never become a common thing because that saddle maker didn’t know how to fix a car engine as well as he knew how to fix a saddle.
There will be a learning curve as with all things, but people will figure out how to fix EVs.
grid problems in the event of mass adoption
We now have new tech for solar and wind that’s cheaper than other forms of energy generation. Energy infrastructure does have to be replaced from time to time, as demand grows we can increase energy generation and make improvements to the grid. The money save on no longer needing to have expensive wars to secure the oil supply will more than cover this cost.
realities of longer distance travel in a car that takes a long time to charge
It takes like 10 to 15 minutes at a fast charging station. Stretch your legs, grab a snack, some 'em if you got 'em, and you’re back on the road. Very much comparable to filling up at a gas station. Also remember that’s only for long distance travel which most people don’t do very often. For daily use it’s plugging in your car when you get home, which overall takes less time than having to make a trip to the gas station every week or two. So an EV will be even more convenient (and cheaper) than filling up at a gas station.
Yeah I get it that it sucks when technology you understand becomes obsolete. It’s just the way things go.
No, they’re referring to the fact that if you buy a Tesla, the government pays for something like 20% of the cost. You multiply that subsidy times the number of Teslas sold, and a massive chunk of Musk’s wealth is government funded.
So then they disagree with EV tax credits or subsidies? In absence of more train investment (which we should do, but is entirely independent) EV subsidies are a really good thing for the environment
I think that @SJ_Zero@lemmy.fbxl.net was referring to the fact that a large portion of Musk’s net worth is tied to the Tesla stock price. The age of easy money that the US economy has been living in for most of the past 15 years has led to many stocks to greatly explode in value much farther beyond what makes sense at a fundamentals level; Tesla being one of the most egregious examples.
Here is an alternative Piped link(s): https://piped.video/watch?v=EpMLAQbSYAw
Piped is a privacy-respecting open-source alternative frontend to YouTube.
I’m open-source, check me out at GitHub.
Look, YouTube has made a lot of shit decisions in regards to the design of their site, and their abusive stance towards adblockers recently. I trust them about as much as I can throw them.
However, your web site is just scraping data from YouTube and stealing bandwidth to provide your own front-end, and it doesn’t even have comments. It will be doomed to fail as soon as Google gets around to cracking down on such interfaces. I would prefer to just post YouTube links without this stupid bot pushing a web site that nobody heard of until the bot was created and spammed Lemmy.
Good bot.
A few different things including what you’re talking about.
Tesla would be one of the smallest car companies if you actually went by the fundamentals of the company though, and instead it has a market cap so high it covers the entire world’s car industry combined.
But stocks always look at where a company will be, not where it is now. Traditional car manufacturers have been stagnating for decades, so confidence isn’t very high there.
If you look at EV sales, Tesla had a 68% market share. (in 2022) If an investor thinks EVs are the only vehicles that will really be around in a few years, that value may be justified.
https://electrek.co/2022/10/18/us-electric-vehicle-sales-by-maker-and-ev-model-through-q3-2022/
That being said, I do think they are overvalued as of COVID. It became more of a hype train than anything else.
Markets have gotten a lot of things wrong in the past 20 years since the amount of money in the monetary system is distorting asset values and causing bubbles. FTX and Theranos being two great examples, but far from the only ones.
I said this a few years ago but it’s becoming increasingly true now: If EVs become the hot new thing, I fully expect traditional automakers to come out on top. Particularly companies like Toyota who are really really good at building cars.
Thing is, it still isn’t totally clear that EVs in the form of the traditional automobile will be the best thing. There’s a good chance that all the major unsolved problems with them will cut the technology off.
I feel like the major unsolved problems with fossil fuel powered vehicles will cut them off.
It’s funny you mention Toyota, since they’re lagging particularly far behind even other traditional automakers when it comes to battery electric vehicles. (Some executive was biased against them or something, so Toyota’s spent the last decade trying to push hybrids and fuel cell EVs instead.)
I think that there’s a reason for it, and I think that that reason is that they’ve been selling battery vehicles for 25 years and they know full well that there’s going to be major problems.
The reality is that until maybe this year or the year before, these were expensive toys for the 1% to show off about how virtuous they are with their $100,000 sports cars that were saving the planet.
Traditional auto makers only know how to make the frame, suspension, and interior. Engine and transmission knowledge doesn’t help. You need to know battery management and motors instead.
What unresolved problems? 10 million were sold last year, seems like we’d have seen the problems by now.
Toyota in particular has been dealing with battery management and motors for 30 years. They’ll be fine.
Unresolved problems of EVs include extreme cold performance without a heated garage, battery degradation and the massive social, economic, and environmental consequences as people end up with useless used cars you can’t fix, grid problems in the event of mass adoption, and the realities of longer distance travel in a car that takes a long time to charge.
Diesel engines also have extreme cold issues solved by block heaters. Similar solututions already exist for EVs.
Parts on anything mechanical will degrade. This isn’t unique to EVs. Yeah you will have to replace parts on an EV like on any other car.
I think you’re underestimating people’s ability to adapt and learn how to fix new technologies. Someone that only knew how to fix saddles probably thought the automobile would never become a common thing because that saddle maker didn’t know how to fix a car engine as well as he knew how to fix a saddle.
There will be a learning curve as with all things, but people will figure out how to fix EVs.
We now have new tech for solar and wind that’s cheaper than other forms of energy generation. Energy infrastructure does have to be replaced from time to time, as demand grows we can increase energy generation and make improvements to the grid. The money save on no longer needing to have expensive wars to secure the oil supply will more than cover this cost.
It takes like 10 to 15 minutes at a fast charging station. Stretch your legs, grab a snack, some 'em if you got 'em, and you’re back on the road. Very much comparable to filling up at a gas station. Also remember that’s only for long distance travel which most people don’t do very often. For daily use it’s plugging in your car when you get home, which overall takes less time than having to make a trip to the gas station every week or two. So an EV will be even more convenient (and cheaper) than filling up at a gas station.
Yeah I get it that it sucks when technology you understand becomes obsolete. It’s just the way things go.
So low interest rates caused Tesla stocks to go up? That seems like it’d equally cause all stocks to go up.
No, they’re referring to the fact that if you buy a Tesla, the government pays for something like 20% of the cost. You multiply that subsidy times the number of Teslas sold, and a massive chunk of Musk’s wealth is government funded.
so he is the biggest welfare queen in the world
So then they disagree with EV tax credits or subsidies? In absence of more train investment (which we should do, but is entirely independent) EV subsidies are a really good thing for the environment
Musk as a complete idiot, but gotta say that’s savvy. You don’t have to be smart to be ruthless.