Elon Musk argues that people don’t comprehend the importance of Tesla’s recently announced robot, despite the fact that the company’s stock is tumbling like a stone today (TSLA).
While the Nasdaq is up 2% today, Tesla’s stock is down 8%. One of Tesla’s worst declines of the year, it follows two distinct occurrences that occurred after the last market close on Friday.
Due to the approximately 20,000 vehicles that were in transit to customers, Tesla’s Q3 delivery and production figures fell slightly short of expectations when they were revealed yesterday.
The AI Day event that took place late on Friday is the second occasion that has caused Tesla’s shares to decline.
Although the market is still processing the event, the prevailing sentiment seems to be one of disappointment, particularly because Tesla failed to make it apparent how much closer it is to providing a self-driving system.
However, there is still no obvious road to delivering on Tesla’s claim. Tesla did disclose some substantial progress with its Dojo supercomputer programme and remarkable new technology to improve its self-driving programme.
The Tesla Bot is another option.
The conclusion, based on thoughts gleaned from analysts and social media, seems to be that the two prototypes that were unveiled were largely uninspiring.
One of them was unable to even walk, and the other could hardly move while waving to the crowd. Tesla did publish some footage of the robot performing various duties, but they were largely underwhelming and it appeared that robots designed specifically for those tasks would make more sense.
According to Musk, who reiterated that “just a few people grasp the importance of Tesla Bot,” the humanoid robot has the potential to significantly boost economic output in the future.
Some of the Tesla Bot detractors are missing a crucial element. Yes, it is in many respects disappointing, especially when you contrast the prototypes with what Boston Dynamics has thus far demonstrated.
Over the past few days, I have seen numerous of remarks that are identical to this one:
Tesla is not attempting to create a robot that is as agile as Boston Dynamics’s offerings, though. In order to save expenses, the corporation is attempting to create a robot that is both practical and producible on a wide scale.
Although the price of Boston Dynamics’ bipedal robot is unknown, we do know that they are selling the much smaller dog robot for $75,000, so it is reasonable to assume that it would be far more expensive than Tesla Bot, which is expected to cost “less than $20,000.”
The Tesla Bot’s potential use, though, is a legitimate concern. It seems obvious to me that Tesla is putting a lot of emphasis on having relatively high levels of hand dexterity, the capacity to move from one place to another, and a high level of ability to comprehend and navigate its environment utilising Tesla’s computer vision capability.
I do believe that a robot being able to accomplish that has many applications.
Though I believe there is a fundamental issue with Musk’s feedback loop, I simply don’t comprehend Musk’s assertions that “only a few people appreciate the value of Tesla Bot.”
Anyone who has given the idea of an inexpensive, practical bipedal humanoid robot any thought knows exactly how much value it would add to the economy.
If there are any questions about the idea, they mostly relate to Tesla’s ability to produce such a thing, especially given how far behind schedule the carmaker is with its self-driving programme.
There should be some caution on that front, but if Tesla can deliver the goods, then absolutely, the impact would be enormous.
But it appears like Musk needs to reconsider his own credibility with those who aren’t superfans when it comes to that stuff. It’s difficult when Tesla supporters on Twitter praise FSD Beta and believe everything he says.
As a result, he begins to believe that the reason others aren’t seeing his vision is because they aren’t confident in his ability to execute it.
He now has the strange practise of retweeting individuals who directly quote him verbatim with the comment “that’s true” or “exactly,” which is just strange.
Musk can carry out his vision as he has in the past many times, but he must do a better job of controlling expectations given how poorly he handled them with the Tesla Full Self-Driving programme.