Elon Musk on Tesla's Cybertruck | Canada News Media
Connect with us

Business

Elon Musk on Tesla’s Cybertruck

Published

 on

 

Tesla CEO Elon Musk personally thinks the company’s Cybertruck is Tesla’s “best product ever,” but he wasn’t sure many other people would like its futuristic design.

“I wasn’t sure if nobody would buy it or if a lot of people would buy it,” Musk said of the truck’s November debut on a recent Third Row Tesla podcast.

The electric truck’s angular body is based in part on a 1976 Lotus Esprit sports car Musk bought in 2013 for nearly $1 million. The car was used in the 1977 James Bond movie, “The Spy Who Loved Me.”

“I told the team, ‘Listen, if nobody wants to buy this, we could always make one that looks like the other trucks.’ Like ‘OK, that was a weird failure, but now we’ll make one that looks like the others,'” he said on the podcast.

But Musk said there was method behind his design madness.

“A lot of reasons why people buy pickup trucks in the U.S. is because it’s the most bad-ass truck. Which one’s the toughest truck?” he said on the podcast. So “what’s tougher than a truck? A tank. A tank from the future.

“How do you out-tough a truck? You make a futuristic armored personnel carrier. It’s gonna be pretty special and not like other things,” he said.

Musk said his “inspiration board” for the pickup also included the movies “‘Blade Runner,’ ‘Mad Max,’ ‘Back to the Future,’ ‘Aliens’ – that’s why it looks like that.”

“You want to have these things that inspire people and feels different,” Musk said on the podcast. “Everything else is the same, like variations on the same theme.”

Still, the truck did initially receive a mixed response.

At the Cybertruck’s unveiling, Tesla’s chief designer, Franz Von Holzhausen, threw a metal ball at one the Cybertruck’s “bulletproof” windows to prove its durability. The window cracked. A second attempt cracked too.

Tesla stock tanked 6% that day and the truck was “met with mixed reactions on Wall Street as some balked at its unusual design,” CNBC reported at the time.

But according to Musk, the broken window didn’t impact the number of Cybertruck pre-orders – on Nov. 26, the Tesla CEO tweeted that the company received 250,000 pre-orders.

However a Cybertruck pre-order only requires a $100 fee to cover processing costs — it is not considered a deposit, according to the pre-order agreement on Tesla’s website. For pre-orders to turn into sales, customers have to sign a purchase agreement.

It’s unclear what percentage of Tesla vehicle pre-orders end in sales, and Tesla has not released any sales numbers for the Cybertruck.

Source link

Business

Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

Published

 on

 

Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Business

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Published

 on

Product Name: All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store

Click here to get All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

All Magic Spells (TM) : Top Converting Magic Spell eCommerce Store is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Business

CPC Practice Exam

Published

 on

Product Name: CPC Practice Exam

Click here to get CPC Practice Exam at discounted price while it’s still available…

All orders are protected by SSL encryption – the highest industry standard for online security from trusted vendors.

CPC Practice Exam is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.

(more…)

Continue Reading

Trending

Exit mobile version