Frank O. Clark

@wholemars Power plug.

Would it be possible to design a super intelligence that cannot survive without humans? How would you implement that?

@ExistentialEnso Evil! :o)

No AI data center is worth losing this.

@wholemars My new 2026 Model S is still stuck in last year's software! Apparently they don't update new cars for several months (now over 3 months!). Should have kept my 2023 Model S!

Head into the city with one tap on Tesla Self-Driving 14.3.3

@wholemars Despite almost three months post purchase, my 2026 Model S refuses to update and is stuck on 14.2.2.4. I have even placed a service call, but all to no avail. This thing REFUSES to update. I should have kept my 2023 Model S!

51.7 miles without intervention so far

@mars_bnb Smart guy. Good at PR too!

怎么感觉老黄60+比年轻20+的时候更帅呢？

@TeslaBoomerMama Reuters long term history makes me wonder if someone is paying them off, like Big Oil. Certainly a strong underlying bias.

Reuters at it again When FUD increases, distinguish signal from noise

@bradsferguson Yeah, prima facie case. I have "sold" a bunch of Teslas simply by people riding in the car and observing. Likewise, people observe FSD 14 driving and go buy a Tesla the next day. But how do we convince Elon?

The question is not whether Tesla should spend $1+ billion per year on ads… its trying it out at a much smaller scale and seeing what works to get Tesla a return of $2 or more per dollar spent on ads. Then you scale the methods that work. Up to the amounts that still have a return on investment. Businesses do ads that have a return on investment. For example, Rebellionaire advertises with @farzyness and @LimitingThe, we make more because of that activity than we pay either creator. Placements that don’t earn more than 2x what we spend, we stop doing.

@RonDeSantis I hear you. I bought a Model S in 2016 and was flabbergasted at how quiet and fast the car was. The software all just worked. The very early "autopilot" was fabulous. My 2026 Model S with "FSD" ver 14 is incredible I am 83 and love these things just for what they are.

I’ve always opposed EV mandates, rejected the idea that EVs will save the world, and preferred traditional engines for vehicles like the F-150 I used to drive. That said, it’s clear that Teslas are absolutely top-notch products. It’s not hard to see how they’ve developed a dedicated following.

@tslaming Ming: "next generation Model S?" What did you pick up on that I missed? I just replaced my 2023 with a 2026, but I thought my Model S was then gone forever (my favorite "motor vehicle" ever!).

@thejefflutz @wholemars Because most people are simply not aware of these facts Jeff.

@wholemars Why would the prices be lower or the economics work at all if components and assembly are in the US? They don’t even work in China subsidized …

Allowing Chinese EVs to be sold in the United States would accelerate electrification Just require them to build factories in the United States to sell without any tariffs.

@Tesla I bought one of the last, my fourth Model S. What a fabulous car. I hate to see this vehicle discontinued!;

The last Model S & the last Model X have been produced at Fremont Factory 14 years of history for Model S, 11 years for Model X 🫡

@MOSSADil He looks mean, but he speaks logic.

🇮🇶 IRAQ’S SADR CALLS FOR EXCLUDING ARMED GROUPS FROM NEXT GOVERNMENT Influential Shiite cleric Muqtada al-Sadr is calling for all armed factions to be excluded from Iraq’s next government as pressure mounts over the role of Iran-backed militias in the country’s politics and security. The move could intensify political tensions ahead of upcoming elections and reshape Iraq’s power balance.

@pmarca Amen!

The four most dangerous words in investing are, “This time is different.” The twelve most dangerous words in investing are, ‘The four most dangerous words in investing are, “This time is different.”’

@tslaming Ron Baron is: a nice person, very smart investor, has great understanding of "following a successful founder." He has an outstanding track record.

GOOD NEWS 📰 According to the legendary investor Ron Baron, $TSLA has the potential for at least a 5x return over the next decade or so 🚀 “Our investment in Tesla, currently valued at $4.7 billion, could appreciate at least five times in the next 10 to 15 years...”

@wholemars Disagree Omar. THEY are causing the problem. Altman does not understand and his only goal is to make money. There is no vision, no real understanding.

Anthropic is causing a lot of problems for them

@wholemars Very true. I have been along for the ride since "Autopilot" days (which I thought pretty fabulous for road trips). I purchased FSD at least twice, and just considered it an investment to help Elon develop autonomy.

How refreshing. Nobody ever thanks us they just get mad at us for being the guinea pigs

@pmarca Solid response.

It won’t happen. People say all kinds of things in surveys. Watch what they do instead. And what they do is… use AI.

@MarioNawfal While freedom of speech is guaranteed by the constitution, we should begin removing citizenship and deporting those who advocate political violence like this, and that holds for all "parties."

🇺🇸 A kindergarten teacher from Cincinnati, Ohio was fired after posting a video complaining Trump wasn’t assassinated. What did she expect? No consequences? She was trusted with 5-year-olds… good riddance.

@ClayTravis If you put it that way .....

So Secret Service agents let an armed guy run past them at full speed, fired at least five shots at him — missing the potential assassin completely and maybe shooting another secret service agent instead — & then only apprehended the would be assassin after he tripped and fell.

@gnoble79 I was an owner of HW3, and I paid for FSD, full value. I bought one of the first HW4 cars as soon as they were released. I am very pleased at the performance of FSD 14 on HW4, and in my opinion, Elon has fully delivered something that keeps me on the road safely.

Last night was the biggest disaster in the history of Tesla. Let me walk you through what actually happened on that earnings call, because the headlines are doing you a disservice: Elon Musk got on the call and admitted (his words) that Hardware 3 "simply does not have the capability to achieve unsupervised FSD." He said he wished it were otherwise. He said the memory bandwidth is one-eighth of what Hardware 4 has. And that's the end of the conversation. Approximately 4 million Tesla vehicles on the road right now have Hardware 3. Many of those owners paid $8,000 to $15,000 for Full Self-Driving capability based on Musk's repeated promises (going back to 2016) that the hardware was sufficient for full autonomy. As recently as 2022, Musk was publicly assuring owners that HW3 had the processing power to get it done. BUT IT DIDN'T Those promises are now officially broken. The solution is a "discounted trade-in" toward a new car with Hardware 4. Not a refund or a free upgrade... A discount on buying ANOTHER Tesla. Investor Ross Gerber said it too - all HW3 owners got screwed, and with roughly 285,000 FSD purchasers affected, the potential liability runs into the BILLIONS. But that's not even the worst part. Musk was asked if the current FSD v14.3 was ready for unsupervised deployment. He said yes. Then immediately walked it back and admitted Tesla has "major architectural improvements" in the pipeline that would significantly improve safety. What he really means: the software isn't SAFE ENOUGH to deploy without a human watching. Full unsupervised FSD for consumer cars is pushed to Q4 2026. At the earliest... Maybe. How many times has this deadline been pushed? I've lost count. And trust me, I've seen a lot of broken promises. But this one takes the cake. Now let's talk about the numbers everyone is celebrating: Tesla reported $22.4 billion in revenue and $0.41 in non-GAAP earnings. A "double beat." The stock popped 4% after hours. Victory, right? WRONG Dig into the actual filing: The number one driver of operating income improvement wasn't cost reductions, wasn't volume growth, wasn't FSD revenue. It was - and Tesla listed this FIRST in their own shareholder letter - "one-time benefits related to warranty and tariffs." They released warranty reserves. They booked tariff refund windfalls. They stretched supplier payments by 10 days. They took on billions in new debt. Then they presented everything through non-GAAP metrics that strip out over $1 billion in stock-based compensation. GAAP net income was $477 million on $22.4 billion in revenue. That's a 2.1% net margin. On a $1.4 trillion market cap. Let me put that in perspective: 3.75 billion shares outstanding. Annualize the Q1 GAAP profit and you get roughly $1.9 billion. That's a trailing P/E ratio north of 700. Use the adjusted number - strip out stock comp, which is a REAL cost to shareholders through dilution - and you're still at around 250x earnings. All of this is extremely bad, but I didn't even talk about the CAPEX BOMB yet... 3 months ago, Tesla guided to "over $20 billion" in 2026 capital expenditure. Last night they raised it to over $25 billion. A $5 billion increase in a single quarter. That's 3x their historical annual capex run rate - $8.5 billion in 2025, $11.3 billion in 2024. The CFO confirmed on the call that Tesla expects NEGATIVE free cash flow for the rest of the year. So you have a company generating roughly $6 billion in annual free cash flow on a good year, and they're about to spend $25 billion. The math doesn't work. They will almost certainly need to issue equity. Which means dilution. Which means the $1.9 billion in annual earnings gets spread across even MORE shares. The core auto business is literally deteriorating in real time: Tesla delivered 358,000 vehicles in Q1 (missed estimates again). They produced 408,000. That's 50,000 cars sitting on lots that nobody bought. Inventory days jumped from 10 to 27 in just a few quarters. California (their most important US market) saw registrations crash 24% year over year. Their market share in the state fell from 9.2% to 7.7%. That's on top of a Q1 2025 that was ALREADY weak from Model Y retooling. They're declining off a decline. And here's what really kills the bull case... The entire valuation rests on robotaxis, Optimus robots, and autonomy. So let's put numbers on it: Waymo - the actual leader in autonomous driving with 15 million completed rides in 2025 alone, over 127 million autonomous miles driven, operating commercially across 6 US cities with plans to expand to 20 more - just raised $16 billion at a $126 billion valuation. That's the market's verdict on what the LEADING robotaxi company is worth. $126 billion. And Waymo is YEARS ahead of Tesla in actual deployment. Tesla has 3.75 billion shares outstanding. So even if you assign $126 billion in robotaxi value (giving Tesla full credit for matching Waymo despite being nowhere close) that's $33 a share. Add the auto business at generous auto-industry multiples, maybe $20 a share. Throw in energy storage and services, $10-15. Sum of the parts gets you to roughly $65-70 a share if you're feeling generous. Maybe $50 if you're not. The stock is $387. So what exactly are you paying for? You're paying for a STORY. You're paying for PROMISES that keep getting pushed back, technology that keeps falling short, and a business plan that requires spending $25 billion a year while the core product sells fewer units at declining margins in a market where California sales just fell 24% and the federal EV tax credit is gone. I managed the number one mutual fund in America. I founded two billion-dollar hedge funds. I've been doing this since 1981. And I am telling you: Tesla at $387 is one of the most egregious mispricings I have seen in my entire career. THE CRASH WILL BE EPIC