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Hating Elon

I had a pretty interesting exchange online recently where I came across people who actually believe that their shaming of Elon Musk is having an impact and that they can "take him down". I had the pleasure of educating them on some ground realities of his net worth. It is true that Tesla is one of the most visible endeavors that Elon is known for. X (formerly Twitter) being the other one. If you set those two aside, and just look at Space X, you'll learn very quickly that this privately held company is worth $350 billion today, and is projected to reach a valuation of 2.5 trillion by 2030. That's 5 years away folks! Elon Musk owns approximately 42% of SpaceX's equity and retains 79% voting control - which means that his net ownership of Space X is worth $147 billion today but would be $1.05 trillion in 5 years (yes, Trillion). As of today (June 21st 2025), Elon Musk's net worth is 409 Billion. Whether you shit on Teslas or don't buy one or put a sticker on one you own; it's only making you feel good about yourself. It means absolutely nothing otherwise. His ownership of Tesla is 12%. By comparison, he owns 54% of xAI (founded in March of 2023), which has an estimated net worth of 50 billion - and secondary markets estimate its value closer to $100 billion. So while Tesla shares may be flat or whatever, his personal net worth has gone up from $195 billion in 2024 to 342 billion as of the middle of 2025. Because Space X is private (as is xAI), and makes its money from international governments and private enterprises, it is relatively well insulated from any sentimental reactions (private markets, company backlash, brand devaluation, etc). So again, he is beyond any of the hatred that is being thrown at him. That's just the reality, whether you like it or not. He can literally walk away from Tesla and not care. That is the reality. That my friends is called 'Fuck You Money'.

Tesla today employs approximately 125,000 people. When the Tesla stock takes a hit, their personal wealth shrinks as most of them own equity in the company as part of their pay packages. Pension funds that invest in Tesla get hurt, and in many cases, it hurts the very people who think they are hurting Musk. Example; I was speaking with a teacher who basically lectured me for driving a Tesla. I listened patiently. Then I asked, “would you be OK if everyone stops buying Tesla's and the company went bankrupt?” Her response was an emphatic - 'Absolutely!!!'. I shared the following statistic with her. The American Federation of Teachers has an investment of $8.8 Billion in Tesla shares. That company going bankrupt would wipe out that much from the pension fund and impact its 1.8 million members. Are you sure you want that? She didn't respond - but I know the answer. Now granted, the AFT's pension fund has $4 trillion in assets, so it's not going to be the end of the world, but recognize that the ripple effects will impact almost everyone else more than Musk. That is the ground reality. People should get educated on how publicly traded companies work and who they impact.

Wiping our Tesla would do a few things. It would directly impact the employees, of which 50% are manufacturing jobs. It would obviously impact all the institutional investors and private investors as I already mentioned above. Tesla, has 5018 institutional owners and shareholders that have filed 13D/G or 13F forms with the Securities Exchange Commission (SEC). These institutions hold a total of 1,765,977,498 shares of TSLA. Largest shareholders include Vanguard Group Inc, BlackRock, Inc., State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, Geode Capital Management, Llc, Susquehanna International Group, Llp, Susquehanna International Group, Llp, Morgan Stanley, and Citadel Advisors Llc . Everyone will get impacted... except... Elon Musk. Elon may loose $100 billion, but will make that up elsewhere. The impact to him will be negligible at best. Tesla going bankrupt would also have some intangible effects in my opinion. First, it would be a major setback for the EV industry. Tesla still accounts for 50% of all EV sales and they only make 5 car models. Perhaps more importantly, Tesla owns and operates the largest DC fast charging (DCFC) network in the US, accounting for roughly 57% to 60% of the total DC fast charging ports in the US. It is possible that those would transfer ownership, but there is no guarantee. Telsa's Powerwall business accounts for 30% of the Battery Energy Storage System (BESS) market. So if you call yourself an environmentalist- you should think twice. Sure, there are other players in the market that would step in and sell you an EV. Almost none of them are building an EV network. They are all switching over to the NACS connector in their cars - which is the Tesla standard. The reason they are doing this is so that they can freeload off of the investments Tesla made. These are mostly all traditional car manufacturers who want their cake and eat it too. They are not stopping production of their combustion engine cars. Their commitment is only to not leave any money on the table. It is not rooted in any core principles. The few companies like Rivian and Lucid are not setup to replace Tesla. They are hoping to survive.

Now, there are some up-sides in the Tesla / Elon hate campaign. Firstly, it floods the secondary market with affordable EV's and the average buyer who is not ideologically brainwashed gets a good deal on a very reliable car. In some cases, they are getting a steal because the market pressure on the secondary market is significant right now. Secondly (and this is all verifiable), Tesla buys back a lot of these cars at a huge discount for their Robotaxi fleet, which they will again make money on. It takes cars out of the hands of the people who love to virtue signal and into the hands of people who benefit from the low total cost of ownership (ToC). A 2024 study by Green Car Report found that Teslas had the lowest maintenance cost amongst all brands. For the first 5 years of ownership. the maintenance cost averaged $580. The second best car cost $900 over the same period (a 54% + increase). So it helps people who want a good deal and can benefit from those who can't stand to drive a Tesla anymore. A bunch of people tell me that the Hyundai Ionia 5 is more efficient than the Tesla. Here's a fact. If you compare the battery size of the larger battery Ioniq (84 kWh) to the Model Y (75 kWh) and then realize that the slightly smaller battery of the Model Y (10.71% smaller) provides 327 miles or range as compared to 318 for the Ioniq 5. You're paying more to charge a bigger battery that gives you less range. Math is math my friends - it doesn't lie.

Let's dive a bit more into Space X which dominates satellite launches, launching the vast majority of satellites to orbit. In 2024, SpaceX conducted 52% of all launches and launched 84% of all satellites. Roughly half of all satellites in space are owned and operated by Space X. Yes, these are the Starlink satellites. SpaceX primarily generates revenue through three main channels: satellite launches, NASA cargo and crew missions, and its Starlink internet service. They launched their first rocket in 2006 - less than 20 years ago and hovered in the teens in terms of annual rocket launches until 2019. Then, they went from 27 rockets in 2020 (Covid year) to 138 launched in 2024. They are on track to launch 170 rockets in 2025. That's one rocket launch every two-plus days. That is insane. Given their business model, they compete with other rocket companies and other satellite operators. When Boeing stranded three astronauts at the International Space Station (ISS) last year, Space X came to the rescue. It didn't shut up Musk's critics. It just made them look stupid.

Now, it's no secret that I'm not an Elon hater. But even if I was, or had moral qualms about buying a Tesla, I would not be under the illusion that my financial decision is having any impact on his net worth or impacting him in any meaningful way. I would not buy any product that I have moral issues with and so I respect peoples decision to not support a company that doesn't align with their values. Heck, that's what free markets are all about. For me, it would be a personal decision. I wouldn't shame anyone else for their decision. Ironically, the people that are participating in this type of shaming also consider themselves liberal. How's that liberal?

A few things are ignored when people think about Tesla and Elon Musk. First, his companies are all inter-connected in some way. Teslas have the most advanced autonomous driving technology (don’t believe the haters - do the research). With Space X’s Starlink satellites, Elon can provide these cars with a dedicated internet connection. With xAI, he can integrate Grok as a digital assistant that can effectively make it the most advanced car that no competitor can directly compete with. They would have to partner with the likes of OpenAI or Google just to offer a Grok competitor - and that would come at a significant cost. Tesla can power all their superchargers with Solar + Megapacks (if they wanted to) and further drive down their operating costs for their network of superchargers. Tesla’s Optimus robots will drive down the cost of manufacturing the cars to such a low amount that buying anything else will be purely ideological and completely financially irresponsible. The Robotaxi fleet will compete so heavily with other services that car ownership itself will seem silly.

If you look beyond the Tesla business, imagine with a Nureaulink implant with its own Starlink connection connected to xAI that can command a humanoid robot can do? Alternatively, imagine what the combination of Optimus robots landing on Mars with the towing capacity of Cybertrucks will do to build livable habitats there - powered by Tesla’s Solar. These combinations get even more interesting when you look at his other investments. There are so many pieces on the chess board that haven’t moved yet.

To wrap this one up. Hating Elon Musk is a convenient indulgence, but he's living rent free in your heads while he gets richer and more powerful. What Tesla is focusing on right now is Physical AI. Between their Robotaxi business, their Full Self Driving software stack, or their foray into Humanoid Robotics (Optimus), they are going well beyond the automaker business. Tesla's Megapacks are used by municipalities from Alaska to California and from the Bronx to Australia. When your town has a storm, and your power doesn't go out. It could be a Tesla Megabuck keeping it going. The Optimus humanoid robots will reshape the company's revenue model completely in the next 6-11 years. While cars will continue to be a big part of their business, a humanoid robot powered by AI will be produced at an order of magnitude larger scale than their cars are today. Companies will likely start to license FSD in 2026 with a ramp-up in late 2027 and into 2028. The license revenue will do for Tesla what the energy credits did for them early on in their EV business. The thing that people have to realize is that Tesla as a company has no business existing. It exists today because of Elon, and he is not going away.

Now, if you're upset about DOGE, I will write on that separately.

-peace

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Winners of the State (MA) All-Stars ultimate championship. That’s my boy right there at the end who was the only freshman on the team.

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I got the Cybertruck a couple of weeks ago. I traded by 6 year old Tesla for it, and I transferred Full Self Driving from my old car to the this one. I turned 50 this year and this is my gift to myself.

I wasn’t sure how much I was going to like this truck, but it is by far the best car I have ever owned - and I’ve owned a few. It’s an obnoxious and controversial vehicle and I know for a fact that some of my neighbors have strong feelings on it. Well, whatever. To each their own. You either hate it or you love it.

I had a few reasons for getting one, but the biggest and easiest one is just as simple as - I just wanted one. But if I were to elaborate, I am a futurist and I don’t want to drive a plain old car that looks no different than any other car that came before it. I think almost all cars now these days are boring. When I got my 2019 Tesla, it got a lot of attention because they were still fairly uncommon back then. Now they are one of the most common cars I see around. I want something that looks out of place and looks like it belongs in the future. This one is definitely out of place. I also wanted a truck. I have owned several SUV’s but I have never owned a truck. I’ve been doing more projects that require me to haul stuff, and this is very practical for my future use-cases. I am also looking forward to having a car that doesn’t get door dings and dents as easily. Shopping carts aren’t going to do anything to the exterior and it will take a decent hit before it shows.

Since our other car is a 7 seater (Rivian), I didn’t care about the seating capacity, but I really do like the back seat storage space when the seats are folded up. There is plenty of storage between the frunk, the “vault” and the sub-compartment in the vault, but I find myself using the back seat space a fair bit. Even though i’ve only had it for a couple of weeks, I’ve already put 1,500 miles on it. As I’m writing this, I’m outside of Philly and I’m charging at the office building next to my hotel. It’s a free charger and i’ve added and used about 180 miles for free - an added bonus. I also have the option for charging for free at work, which is a nice perk.

FSD on the Cybertruck is significant better than my older Tesla, which had HW3 and had not been upgraded to HW4. I drove from Boston to Philly on FSD and only drove for about 15 minutes of the drive on my own when the weather was really bad and I didn’t want to take a chance. The rest of the drive was so convenient and I didn’t feel as tired when at the end of the 5+ hour trip.

The thing that has surprise me the most is how positive most of the reactions have been. Older women seem to like this thing the most and I get a lot of thumbs-ups at traffic lights. I was at a Wawa this morning and an older couple came to me and asked me what this was. I let them sit inside and chatted with them for a bit. They said they were going to test-drive one at their local showroom. You’re welcome, Tesla. I also had a guy who said he was deaf ask if he could look inside. He spent a bit minutes admiring it and then gave me a fist bump and walked away. At the supercharger in Connecticut on our way to Philly, a family with two kids were parked next to mine and the kids were admiring it, so I let them sit inside while I talked to the parents. I haven’t had a single negative reaction yet, which is encouraging. I was expecting a lot of middle-fingers. I suppose I have to remember how skewed the media coverage is these days.

I’m hoping to keep this one for a really long time and am hoping to get the unsupervised version of FSD on it soon. There are a few things that people who own one have complained about online. Here are my perspectives on the shortcomings.

1) The rear-view mirror doesn’t allow you to look out of the back window when the tonneau cover is closed. The rear camera is visible on the screen when you’re driving. I’ve found that this works just fine for me. You can actually zoom in and out of the rear camera, which in some ways is more useful to me than a fixed-focal rear view mirror. Obviously, if it’s obstructed by snow or dirt, it’s going to be a problem - but I haven’t had that experience yet.

2) The lack of stalks is another things that people don’t seem to like. In my case, I’ve gotten used to the signal button on the “Squirkle” - which is what the screening wheel is referred to. They are physical buttons and not the capacitive ones that were added to the refreshed Model S and Model X. The feel of the Squirkle is also really nice.

3) The Sharp Edges. Because this thing is made of heavy-duty stainless steel, it’s got some sharp edges. I’ve not experienced any cuts, and I can see how one could get hurt on it if not careful, but it’s not something I care about. I prefer to have a rugged exterior if that is the trade-off I have to make.

I haven’t had to Tow anything yet but if I did, I know I can put 11,000 lbs behind it and it will be fine. I suppose, if I ever had to move my boat on my own, I could. The interior is minimalist but nice, and the ride is quiet. The air-suspension is more responsive than our Rivian, and this can raise to 16” off the ground whereas the Rivian can raise to 15”. I didn’t get the Cyberwheels but instead opted for the ‘Core’ wheels. I like the ones I have, but I have to admit that the Cyberwheels are more bad-ass. I just prefer the higher ranger that the Core wheels provide.

Before I committed to getting the Cybertruck, I was also considering getting a Porsche Taycan - which would obviously have been a totally different direction to go in. I have just never owned a Porsche and that was really the only reason. I’ve driven in a few and they are nice. the fit and finish is definitely more premium and I like the look of the car, but in the end, I decided that it was just way too impractical for my liking. It’s not a comfortable 5 person car for one. I can’t haul stuff in it, and I would have lost FSD - which i definitely want to keep. The Taycan would have been a step down in terms of technology for me, so I am happy with the decision I made.

I’ve got a. Solid 6 hours of driving ahead of me this evening, and I’m looking forward to using FSD to make the journey a lot easier.

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Apocolypse Mode

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Herb garden is blooming. Some culinary nights ahead.

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Friends brought back a bag of these coffee beans from Tanzania. Can’t wait to try them!

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Spent a part of my Sunday organizing the library by genre. The boys use the open shelf on the right to recommend books to the rest of the family for reading. So far it hasn’t really caught on.

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Racing Crew!!

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St. Pete’s Beach - 2024

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Vail, CO - early January 2024.

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Boys make Racing Crew team and get their crew shirts. So proud.

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It’s a wrap