- cross-posted to:
- technology@lemmy.world
- cross-posted to:
- technology@lemmy.world
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An electric car company who’s sucking right wing dick and pissing off liberals isn’t breaking records?!
BUT REPUBLICANS LOVE GREEN ENERGY
yeah, honestly, if you zoom out summary level, the whole thing is so confusing.
I’ll admit I wasn’t paying attention, so high-level he seemed like a Tony Stark, liberal darling: investing in space, internet access, electric cars, and solar. I mean, the dude was set to be a left-wing mascot. Boy was I an idiot. But I admit I wasn’t paying close attention to any early flags.
Honestly, same. I liked him up till he called that dude a pedo for saving those kids before he could. He seemed cool up till then for the most part then holy shit did he nosedive.
Literally all he had to do was to shut the fuck up and let his companies make infinite money for him. But no, he’s got to have his own personal face in the news. Now here we are, Musk is one of the most hated people on the planet and every single one of his businesses are tanking into the lithosphere.
It would be a lesson on hubris if he was capable of self reflection.
Yeah, apparantly there was shit before the pedo thing but it wasn’t super widely known? To me, and many like me, he was just this shitposter running companies that seemed like they might really do cool shit like self driving cars and taking us to mars.
It’s not prostitution if you pay in horses. Then it’s patriarchy.
I’m a white male and was never given a horse :(
Have you tried being whiter or maler?
We had a good thing, you stupid son of a bitch! We had Tesla. We had SpaceX. We had everything we needed, and it all ran like clockwork.
SpaceX is tanking? Big news. Tesla is still the most valuable automaker, so it has a ways to go.
I hate him too, but let’s not live in fantasy.
He was on track for that for sure. But he had two crippling flaws: anti union, and ego obsessed jackass.
The first is obvious how it went down. We like unions, he’s deep in the Californian ideology that caused conflict and he rejected the left aspects of that ideology because of what appears to be a lack of emotional regulation. And that’s where the second comes into play here. It’s also partly because the left is vicious. We kill our heroes to an unhealthy degree.
All that aside, they’ve also been floundering lately and lacking in any substantial new developments. Self driving isn’t really progressing, their line-up hasn’t seen any refreshes, no new features, and all they have to show for it is a Cybertruck with a bunch of issues and delays that probably wasn’t going to sell well to begin with.
This really isn’t surprising. Their market cap was larger than the whole of the rest of the auto industry combined. Had to come back to earth eventually.
I wanted to short it because it was obviously overvalued but I was absolutely not confident it would come down because I will always believe there are greater fools among the Tesla shareholders.
Remember: the market can remain illogical a hell of a lot longer than you can remain solvent.
Exactly. Nvidia’s stock is propped up by AI hype, and that’s going to collapse at some point. That could happen tomorrow, or next year, or three years. If I try to short it, I could easily lose the whole investment before the market hits reality.
Something about how the market can stay irrational longer than you can remain solvent…
Michael Burry, who shorted the housing market in 2008 and made big upfront payments for that bet also shorted Tesla in the last couple years, but bailed because it was too risky for him.
Musk manipulates the hell out of that stock’s price
It’s getting much harder for him to do that. Mostly because the last time he tanked the stock price, it (justifiably) never recovered.
Especially when he keeps dumping Tesla stock to bail out Xitter.
When written as
Xitter
Does anyone else pronounce it “shitter”?
yes
Every time. But to be fair I was calling it Shitter a long time before the name change.
Hmmm looks like all the Tesla speculators jumped on the Nvidia train. Always the danger of gambling on these tech hype stocks.
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When a gold rush happens, the people getting rich are the ones selling shovels. That’s what NVIDIA is doing, and it was what they were doing with the crypto gold rush. It makes them a decent short term investment. When AI crashes, they will probably lose some value if they can’t find a new technology gold rush. But even when the gold rush ends, AI will be here and be wanted, so NVIDIA has a place, has profit potential. Just like the .com bust of the early 2000s. Most of those companies bankrupted, but it wasn’t like we abandoned the Internet.
So, let me tell you about my 1990s investments in Sun Microsystems…
Ha, there are certainly plenty of companies that didn’t survive, and it possible someone comes along with eats NVIDIA’s lunch. AMD is certainly giving them a run for their money on the graphics side.
Problem is that nvidia has the brand strength now. AMD has to be significantly better than nvidia now to overcome the disadvantage.
AMD knows all too well. By every objective measure their server CPUs are the best right now and Intel still has a bigger market share anyway. Every time you think AMD should have easily grabbed the lions share of the market, they somehow don’t. People are stuck in their ways.
On the GPU side, they have to face an even stronger version of this and also have to contend with the reality that nVidia’s software stack and game developer partnerships are still stronger than AMD even it AMD GPU is technically strong.
I keep thinking this, but every time AMD seems to get close, Nvidia blows the doors off. There’s value to be had, but they just can’t compete on performance.
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They and Microsoft are a smart investment for now. They could end up like a lot of company post COVID bump, but both are old companies that hopefully have the smarts to project and plan to so they don’t collapse when the cash stops flowing as well.
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I agree that these customer service bots are a poor use of the tech. In the corporate world, it is very useful for both writing and summarizing, that’s where Microsoft comes in. Outside of LLMs, though, NVIDIA is well staged for most AI stuff. That’s why I say they will outlast the craze. It doesn’t matter what the AI is used for, NVIDIA wins. Voice to text, text to voice, sentiment analyses, object and image recognition, anomaly detection. All of which have gotten significantly better in the last few years due to modern AI tech. Hell, even video game up-scaling and ray tracing have both benefited from these technologies.
All of that is to say, the LLMs and image generation stuff has taken all the press and attention, but there are a lot more uses than those two, and clever people are finding new uses constantly.
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My wife needed help with an Excel VBA script. I know programming but not VBA. I spent hours searching with Google to find a script that I could adapt. I gave up and tried ChatGPT. It wrote a working VBA program in seconds.
A friend is a sales engineer. He says he spends days putting together customer requirements with technical specs into a coherent proposal for government sales. He said he tried chatgpt and it gave him a complete proposal in seconds. He said he had to proofread it but that was hours instead of days of work. He (the company he works for) won the multi million dollar bid.
It’s not human intelligence that will solve all the world’s problems. But it is a revolutionary assistant like how the pocket calculator improved productivity compared to adding numbers by hand.
The number one app for companies right now is “we can replace a lot of people and save a ton of money”, specifically look at the chatbot assistants you see on websites. Once they get the kinks worked out there, I guarantee they’ll have a talking version that will replace call center workers. And that’s only the beginning.
They’ve already run the numbers and figured the upfront costs are worth it. Occasional maintenance/cooling/upgrades/tech support is still going to be cheaper than FICA/Medicare/401K matching/PTO/maternity leave/overtime/workman’s comp/running a huge HR department/family day barbecues, etc.
Just trading one type of equipment for another, in their eyes.
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It’s just the start though. It’s going to spread to any and every thing they can think of. When’s the last time a corporation said “Naw, that’s off limits. We can’t in good conscience monetize that.”
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It has already spread to image and audio generation and manipulation. It has also spread to automated decision making in financial firms.
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Oh there are practical applications if you know where to look. For instance I’m training a trading AI to spot patterns in numbers and indicators that aren’t necessarily common knowledge.
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For what purpose?
The short version: making trading decisions based on technical data.
The long version: there are traders out there that do their operations using statistical formulas called indicators.
There are lots of such indicators out there, and hey, it’s pretty easy when they all point one direction, but what happens if they don’t? What happens if you only get a few conclusive indicators and the rest are inconclusive? What if you were to combine specific indicators to get a more conclusive answer?
If there is one thing AI is good at, it is exploiting numbers and patterns in service of a very specific and easily measurable goal. Mine is trading profits.
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Also, stock prediction can change the thing being predicted. Once a critucal mass of people believe in a certain prediction strategy, then their own actions screw up the prediction. It’s not like predicting some natural or external thing.
Oh yeah, this thing will never be able to predict events like GME or that kind of thing.
The thing is though, I don’t have to beat the first couple or even the first 50 trades. I just have to beat the babdwagoning masses by detecting upticks and downward trends, something my software can do and act upon faster than any human.
Teach it how to short sticks and it can lose you infinite money.
It’ll be like wallstreetbets AI.
A lot of words to say “my imagination is non existent”
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The original memestock.
“Worst performing stock this year”
It’s february. I think whoever wrote that article has an agenda.
Well, it’s a bit surprising that Tesla is the worst-performing stock so far. I mean, the Boeing scandal was a disaster image-wise, and others are struggling real hard. But even with all that, Tesla is performing worse than the airplane manufacturer, who can’t build secure and quality-controlled aircraft. The tide is turning for Tesla. Competition is getting stronger and starting to roll out strategies like the BMW 50% 2025 Plan, which means Tesla as an electric automobile manufacturer has dire times ahead if they don’t start fixing things.
Tesla long stopped delivering on promises they, or rather Musk, made. They need something other than words and visions to sell, and fast, otherwise, the stock is going to normalize more and more, to a degree a mid-sized automobile manufacturer would be, as the shareholders slowly start losing faith and jumping ship, as long as the stock is overvalued and there are buyers.
That probably means it’s a good time to buy the stock tbh
Not really. It still has a price to book ratio of 9.10, which is still ridiculous for a car company.
For comparison:
Toyota is 1.21
Ford is 1.05
Honda is 0.66
VW is 0.38
Nissan is 0.36
The price-to-book ratio, or P/B ratio, is a financial ratio used to compare a company’s current market value to its book value (where book value is the value of all assets minus liabilities owned by a company).
I agree, but hype drives up tech stocks. I don’t buy tech stocks at all because it’s just random in this regard
Tesla makes more than just cars. It’s not a fair comparison.
So do all the other companies. For example, Toyota makes robots.
Doe’s the CEO of Toyota shitpost tho?
I shit post all the time and am not yet a CEO billionaire. You’ve been debunked.
Perhaps you need to be a CEO before the shitposting?
I think it just means it’s over valuation started to end coinciding with the calendar year
But it’s a negative when his antics have helped erase more than $200 billion of shareholder value.
I’m guessing his reply to that is:
People shouldn’t throw their Teslas in the water, whatever the way the stock performs.
Right, you’re only supposed to throw car batteries in the ocean, throwing the whole car in is just littering.
How else are we going to electrify the eels?
You love to see it
lol
Tesla will be unable to compete with other cars soon. I would not buy the stock, except for short term bounce.
They’ve got one of the highest P/E ratios on the S&P. Pretty much the definition of overvalued.
But the short-sellers have been burned so many times, its stayed inflated long past its peers throughout the rest of the tech sector.
