Tesla Dunks on Glass Lewis / Elon and Trump's Secret Meetings / Is This Real? ⚡️

Welcome to Electrified, it's your host Dylan Loomis. So first of all, from yesterday's episode to everybody who called me out for using the lower case M, which is supposed to be for Millie, rather than the upper case M, which is for mega, my sincere apologies. Honestly, just totally slipped to my mind. I got lazy and I just was not thinking. Thank you for the callouts and for keeping me honest. And just so you all know, I did hear all of the feedback about yesterday's video. So once again, as always, keep it coming. I can't promise that I won't make mistakes or step out of bounds every now and then, but I can tell you that over time, I will do my best to become less wrong.

欢迎收听《电气化》节目，我是主持人迪伦·卢米斯。首先，对于昨天那一期节目中有人指出我错用了小写的“M”（代表毫，Millie），而不是大写的“M”（代表兆，Mega），我致以诚挚的歉意。说实话，那只是个无心之过，我当时有点懒散，没有多加思考。感谢大家的指正和监督。还有，让大家知道，我确实听到了对昨天视频的所有反馈。所以，再次感谢大家一如既往提供意见。我不能保证自己永远不出错或不越界，但我可以告诉大家，我会尽最大努力逐渐减少错误。

Here's some context from Hallmarks for what you're about to hear. The California Public Employees Retirement System, which is the largest public pension fund in the country, who, by the way, made over a 10x in Tesla stock over the past six years, have decided to vote no for Elon's 2018 compensation plan. The Elon Musk pay package. You have a stake in Tesla. What do you think? So that is one of the proxy proposals that we will take a serious look at. The team is evaluating it. But as of today, minus the conversation that has yet to happen with Tesla, we would not be voting in favor of that proposal. We do not believe that the compensation is commensurate with the performance of the company.

以下是一段来自Hallmarks的背景介绍，方便你理解接下来要听到的内容。美国加州公务员退休基金（California Public Employees Retirement System），这是全美最大的公共退休基金，顺便说一句，在过去六年中他们通过投资特斯拉的股票赚取了超过十倍的回报，现在他们决定对埃隆·马斯克2018年的薪酬计划投反对票。你持有特斯拉的股份，你怎么看？这的确是一个我们将认真考虑的代理提案。团队正在评估它。但截至目前，除了尚未与特斯拉进行的对话外，我们不会投票支持该提案。我们认为这份薪酬不符合公司表现。

Did you vote for it in 2018? I believe we did vote for it in 2018. Okay. This is about long term value. But hold on, hold on. But do you believe you were duped in 2018? No. I believe we used the information we had available and made the best choice. If I told you that you were being paid a certain amount of money in 2018, and then I called you and said, actually, you know what, we're not going to give you that money anymore. What would you do? That's a great question. I would go to my board. I would talk with my board if this was truly a commitment that was made to Mr. Musk by his board, then they should follow through on that commitment. But for us. How can they follow through if. They're non-binding proposals. So they could follow through. They have a choice to follow through on this proposal.

你在2018年投票支持它了吗？我相信我们在2018年确实投票支持了它。好吧。这关乎长期价值。但是等等。你相信在2018年你被欺骗了吗？不。我相信我们使用了当时可用的信息并做出了最佳选择。如果我告诉你你在2018年会得到一定数额的钱，然后我又打电话告诉你，实际上，你知道吗，我们不会再给你那笔钱了。你会怎么做？这是一个很好的问题。我会去找我的董事会。如果这真的是董事会对马斯克先生做出的承诺，那么他们应该履行这个承诺。但是对我们来说。他们怎么履行，如果。这些只是非约束性提案。所以他们可以履行这个提案。他们有选择去履行这个提案。

So you believe that the board could still pay you on Musk? I believe the board minus the court issue. So I'm not factoring in the court issue on this. But for us, the reason we do the say on pay is that the company long term value creation of that company cannot be a spike in performance because we've seen spikes in performance at Tesla. This is about long term value creation. And so if the board is supportive, and again, I'm not factoring in this court issue, most of these proposals are non-binding and the board could make it more effective. And I'm not going to make a decision to go ahead and pay.

所以你认为董事会仍然会依靠马斯克给你支付报酬吗？我认为如果除去诉讼问题，董事会可能会支付。因此在这里我没有把诉讼问题考虑在内。但是对我们来说，进行薪酬投票的原因是公司的长期价值创造，而不是绩效的短期飙升，因为我们在特斯拉已经见过这种短期绩效飙升。这关乎长期价值创造。所以如果董事会支持的话，而且再次强调，我没有将诉讼问题考虑在内，大多数这些提案都没有约束力，董事会可以让其更有效，并且我不会做出继续支付的决定。

First of all, the argument she's trying to make is even if the vote goes no, then the board can still decide to overrule that and actually pay Elon his compensation. She, of course, included the massive disclaimer that she's not counting for what's going on in the Delaware court. That's somewhat equivalent to saying, well, Ford and GM are the biggest EV makers in the United States if Tesla didn't exist. Well, Tesla does exist, so that's a ridiculous hypothetical. You would think the CEO of the largest pension fund in the country would be able to make decisions using all of the available information and provide responses for the same.

首先，她试图表达的观点是，即使投票结果是否定的，董事会仍然可以决定推翻投票结果并实际支付给埃隆他的薪酬。当然，她加入了一个重要的免责声明，即她没有考虑到特拉华州法院正在发生的事情。这有点类似于说“如果特斯拉不存在，那么福特和通用汽车就是美国最大的电动汽车制造商。”但特斯拉确实存在，所以这是一个荒谬的假设。你会认为全国最大养老金基金的首席执行官应该能够利用所有可用信息做出决策，并且能够提供相应的回应。

I'm not a lawyer, but I would definitely question the legality of if Tesla's board were to just pay Elon anyway if this vote were to be a no. Just guessing here, but pretty sure that would not hold up in court, given that a yes vote six years ago did not hold up in court. So to me, that first argument seems ridiculous and irrelevant. And then she decides to bring up how this is all about long-term value creation, implying that Tesla isn't doing that. For Tesla stock, going back 10 years, which for me is a minimum requirement for talking about long-term, keep in mind this was after a significant Tesla stock run up, so not including that. And it includes the recent sideways movement for three to four years. Tesla is still up 1,211% over the past 10 years.

我不是律师，但如果特斯拉董事会在这次投票结果为否的情况下仍然支付给埃隆，我肯定会质疑其合法性。虽然只是猜测，但我非常确定这在法庭上不会站得住脚，毕竟六年前的一次赞成票在法庭上也未能通过。所以对我而言，第一个论点似乎荒谬且无关紧要。然后她提到这一切都是为了创造长期价值，暗示特斯拉并没有做到这一点。对于特斯拉股票，回顾过去十年，这是我认为讨论长期的最低要求，请记住，这是在特斯拉股票大幅上涨后得出的结果，所以不包括那段时间。而且还包括最近三到四年的横向波动。即便如此，特斯拉过去十年仍然上涨了1211%。

Elon is dumbfounded as well, saying what she's saying makes no sense as all the contractual milestones were met. Calpers is breaking their word. Replying to Hallmar's, Elon said Calpers broke the deal, shame on them, they have no honor. In fairness, Marcy did note they're planning to have a conversation with Tesla, but if the vote was today, that $1.7 billion in Tesla stock that they own would be voting no. Here's how this boils down. Marcy, Calpers, and the roughly 2 million or so employees in this pension fund make over a billion dollars in Tesla stock over the past six years. But now Marcy is saying, you know what, Elon does not deserve to get paid for that value creation. And as we just heard, at least in my opinion, Hoorashinao was a joke.

埃隆也感到非常震惊，他说她的言论毫无道理，因为所有合同规定的里程碑都达成了。加州公共雇员退休系统(Calpers)违背了他们的承诺。在回复霍尔玛时，埃隆说Calpers毁约了，他们应该感到羞耻，他们毫无诚信。公平地说，玛西确实提到他们计划与特斯拉进行对话，但如果今天投票的话，他们持有的17亿美元特斯拉股票将投反对票。事情的实质如下：玛西、Calpers以及该养老金基金的约200万名员工在过去六年里通过特斯拉股票赚了超过10亿美元。但现在玛西表示，埃隆不应该因为这些价值创造而得到报酬。而且，至少在我看来，我们刚刚听到的胡拉神道简直是个笑话。

Mexican officials are doing what they can to keep the momentum going for suppliers and other companies to continue investing in Nuevo, Lyon, and surrounding areas. As part of that push, they're saying Gigamexico is still moving forward. Tesla has already started preliminary construction and attracted a few suppliers to Nuevo, Lyon. The Secretary of Economy confirmed the state maintains a good relationship with Tesla and regularly communicates with the company. Tesla and Nuevo, Lyon, are currently discussing incentives related to Gigamexico. We have not had any change in signal. We also work hand in hand with them. For example, right now in the incentive contract, the communication is very close. We continue working. The only thing I could not say and that's not defined is when Tesla is going to start, but Tesla is coming, Tesla is coming. The incentives they're discussing have to do with highways, bridges around Gigamexico for connectivity, and the infrastructure for treated water from Gigamexico. Lastly, they said Tesla's mass layoffs have not affected Tesla Mexico's preliminary construction. The construction so far isn't really factory related. Again, it's mostly infrastructure related if you're interested in tracking the progress. Adrian CG on YouTube, who I'll link below, is our drone pilot so far for Gigamexico. Honestly, at this point, I'm not expecting a production vehicle to be sold from Gigamexico until sometime in 2027.

墨西哥官员正在尽力保持供应商和其他公司在Nuevo León及周边地区的投资势头。作为这项努力的一部分，他们表示Gigamexico项目仍在推进中。特斯拉已经在Nuevo León开始了初步建设，并吸引了一些供应商。经济部长确认该州与特斯拉保持良好关系，并定期与公司沟通。目前，特斯拉和Nuevo León正在讨论与Gigamexico相关的激励措施。 “我们的合作仍然紧密。例如，在当前的激励合同中，我们的沟通非常频繁。我们会继续努力。唯一不能确定的是特斯拉具体何时开始生产，但特斯拉一定会来，特斯拉一定会来。” 他们讨论的激励措施涉及Gigamexico周边的公路、桥梁的建设以及污水处理的基础设施。此外，他们表示特斯拉的大规模裁员并未影响特斯拉墨西哥的初步建设。目前的建设主要与基础设施有关，而非工厂生产。如果你对项目进展感兴趣，可以关注Adrian CG在YouTube上的视频，他是目前Gigamexico项目的无人机飞行员。坦率地说，我预计Gigamexico在2027年之前不会有量产车出售。

After that comment, I'll provide some quick comic relief. Sawyer shared a post from Joe Biden on Facebook saying the future of EVs will be made in America by Union workers. A post like that, you definitely have to check the comments and I came across this one from Nurlnet Neil saying this is what we've got so far, truly inspiring. Well done, Neil. Ed Krasenstein said this post explains the relationship between Elon and Biden, remove by Union workers and Elon would be going to the White House daily for evening tea. To which Elon said Biden cares a lot more about whether Tesla is unionized than whether Tesla is saving the environment. That's really nothing new, but what we have here actually is. Now warning, this is somewhat political, but remember, I'm just the messenger and I actually think this could have pretty big implications for the next few years. The Wall Street Journal is saying that Trump and Elon have discussed a possible advisory role for Elon should Trump actually become president. The role has not been fully hammered out and might not happen, but the two men discussed ways to give Elon formal input and influence over policies related to border security and the economy. Elon, along with billionaire Nelson Peltz, has also briefed Trump on a plan they have developed to invest in a data-driven project to prevent voter fraud. Peltz and Elon also told Trump of an influence campaign in elite circles that's already underway, in which Elon and his political allies host gatherings of business leaders across the country to convince them not to support Biden's re-election campaign. In recent months, Trump and Elon have been developing a friendly rapport and talk on the phone several times a month as the election years. They've talked about immigration, tech and science, and the US Space Force and others will get to momentarily. Trump has told Elon he wants to find a way to get him more involved if he wins in November. As always, Elon is not just interested in writing a check, and Elon said he's motivated by anxieties over the direction of the country. At one of these get-togethers between Elon, Trump and Peltz, they also had their sons in attendance, making this a family affair. Recent talks between Elon and Trump have also been about Tesla, X and SpaceX. They've also discussed the EV industry and EV tax credits.

在那条评论之后，我将提供一些快速的搞笑片段。索耶在脸书上分享了一篇乔·拜登的帖子，说未来的电动车将由美国的工会工人制造。看到这样的帖子，你肯定要看看评论，我发现了Nurlnet Neil的评论：这是我们目前得到的，真是激励人心。做得好，Neil。Ed Krasenstein则说，这篇帖子解释了埃隆和拜登之间的关系，如果没有工会工人，埃隆每天都要去白宫喝下午茶。而埃隆则回应说：拜登更关心特斯拉是否工会化，而不是特斯拉是否在拯救环境。这其实不是什么新鲜事，但我们这里有一些新消息。提醒一下，这有些政治色彩，但记住，我只是个信使，我认为这对未来几年可能有很大的影响。根据《华尔街日报》的报道，特朗普和埃隆讨论过，如果特朗普再次当选总统，为埃隆安排一个可能的顾问角色。这个角色还没有完全确定，也可能不会发生，但两人讨论过让埃隆正式参与和影响与边境安全和经济相关的政策。埃隆和亿万富翁尼尔森·佩尔茨也向特朗普介绍了一项防止选举欺诈的数据驱动项目计划。佩尔茨和埃隆还告诉特朗普，他们正在进行一场在精英圈子中的影响力活动，旨在说服商界领袖不支持拜登的连任竞选。最近几个月，特朗普与埃隆的关系日益友好，每个月都会通几次电话，讨论移民、科技、科学以及美国太空部队等话题。特朗普告诉埃隆，如果他在11月获胜，他希望找到一种方式让埃隆更多地参与进来。正如往常一样，埃隆不仅仅是想写张支票，他还因为对国家方向的忧虑而充满动力。在埃隆、特朗普和佩尔茨的一次聚会上，他们的儿子们也在场，使这成为了一次家庭活动。最近，埃隆和特朗普还讨论了特斯拉、X和SpaceX。他们还讨论了电动车行业和电动车税收优惠政策。

Despite Elon's friendlier relationship with Trump as of late, Elon is still non-committal on an endorsement for Trump. They're saying the idea is more about emphasizing what Elon and Peltz see as Biden's shortcomings rather than Trumpening Trump himself. Look, I know it's easier said than done, but putting the politics aside, giving Elon an advisory role would clearly have some positive implications for Tesla and the EV movement. And we all know what Trump is saying right now about electric vehicles publicly, but if we could have Elon in his ear to some degree in the years ahead, at the very least, I think it would be a bit better than the adversarial relationship that Elon and Tesla have with the current administration. Obviously, Trump may not win, and this advisory role may not happen even if he does, but it's definitely something to keep in mind and watch unfold.

尽管最近埃隆与特朗普的关系较为友好，但埃隆仍未明确表示支持特朗普。他们说，这个想法更多的是在强调埃隆和佩尔茨眼中拜登的缺点，而不是直接支持特朗普。听我说，我知道说起来容易做起来难，但撇开政治不谈，给埃隆一个顾问角色显然会对特斯拉和电动汽车运动有一些积极的影响。我们都知道特朗普现在公开对电动汽车的言论，但如果未来几年我们能让埃隆在他耳边多说几句，至少，我认为这会比埃隆和特斯拉与现政府的对立关系好一些。当然，特朗普可能不会赢，即使他赢了，这个顾问角色也可能不会实现，但这无疑是值得关注和留意的发展。

NHTSA is now seeking records from Tesla for its investigation into Model 3 and Y vehicles over power steering lost reports. It wants these records from Tesla by July 24th about the steering components. The request includes Tesla's process for identifying problems and creating solutions for potential defects. The investigation covers around 334,000 Model 3 and Y cars from 2023 and comes after NHTSA received 115 reports of loss of steering control. The reports include steering or related failures or steering becoming stuck, locked or immovable or requiring high or increased effort. NHTSA said it's aware of over 50 vehicles allegedly towed as a result of the problem. As a reminder, not all NHTSA investigations ultimately result in a recall.

美国国家公路交通安全管理局（NHTSA）正在向特斯拉（Tesla）索要关于Model 3和Model Y车型失去动力转向控制的报告记录。该机构希望特斯拉能够在7月24日前提供关于转向组件的相关记录。请求内容包括特斯拉如何识别问题以及为潜在缺陷制定解决方案的过程。此次调查涉及大约33.4万辆2023款Model 3和Model Y汽车，此前NHTSA已收到115份关于转向控制失效的报告。这些报告包括转向装置或相关组件的故障，例如方向盘卡住、锁住或无法移动、或需要较大力气才能操作。NHTSA表示，据悉有超过50辆汽车因为这一问题被拖走。需要提醒的是，并非所有NHTSA的调查最终都会导致召回。

There were 22 undocumented changes in Tesla software update 2024.14 just wanted to share a few. Tesla theater gets a new UI update. When adding a new driver profile, Tesla now encourages the user to do it from the mobile app. That way it makes it a cloud-based profile. That way you can sync your profile across different Tesla vehicles, whether it's a loaner or a rental, etc. There's a new icon for the navigation app which clearly can be pinned to the bottom dock. The pedals and steering menu has seen some changes and it's now called Dynamics. The media player is a bit larger, allowing for more quick controls. The charging display will now have a bit more information and the font size of the speedometer has also been increased.

特斯拉软件更新2024.14中有22个未公开的变更，这里分享其中几项。特斯拉影院（Tesla Theater）界面进行了新的更新。添加新的驾驶员档案时，特斯拉现在鼓励用户通过移动应用程序进行，这样可以创建一个基于云的档案。这样，你可以在不同的特斯拉车辆之间同步你的档案，无论是借用车还是租赁车等。导航应用有了一个新图标，可以固定在底部的工具栏上。踏板和转向菜单有了一些变化，现在被称为“动态”（Dynamics）。媒体播放器稍微大了一些，提供了更多的快捷控制。充电显示屏现在会显示更多信息，车速表的字体也有所增大。

Carlos Tavares, the CEO of Stellantis, just said they plan to offer a $25,000 all electric Jeep vehicle in the US very soon. In the same way we brought the 20,000 Euro, Citroen EC3, you'll have a $25,000 Jeep very soon. Tavares said he expects the company to achieve cost parity with its full BEVs and traditional combustion vehicles in the next three years max. Regarding Chinese competition, he said it's a very challenging period, very chaotic, very Darwinian. We are in the storm and this storm is going to last a few years. He also said the tariffs like those the US is implementing on Chinese EVs may delay their expansion to the US but it will not completely stop it. Saying yes, time helps but you cannot stop the competition. Putting you behind a protectionist bubble is not going to help you be competitive. If your strategy is to shrink and stay inside of the bubble, it'll buy you time but certainly it will cut your future.

Stellantis的CEO卡洛斯·塔瓦雷斯刚刚表示，他们计划在美国很快推出一款售价25,000美元的全电动Jeep车型。他说，就像我们之前推出的20,000欧元的Citroen EC3一样，很快你就会看到一款25,000美元的Jeep。塔瓦雷斯表示，预计公司将在最多三年内实现全电动汽车与传统燃油汽车的成本平价。 针对中国的竞争，塔瓦雷斯认为这是一个非常具有挑战性的时期，非常混乱，就像达尔文式的生存竞争。他说，我们正处在风暴之中，而且这场风暴将持续几年。他还提到，美国对中国电动汽车实施的关税可能会延缓它们扩张到美国市场，但不会完全阻止。他说，时间确实有帮助，但无法完全阻止竞争。把自己放在保护主义的泡泡中并不会让你更有竞争力。如果你的策略是缩小业务并待在泡泡中，这可能为你争取时间，但肯定会削减你的未来。

No surprise, you won't hear much about this in the media but over the past few weeks, Stellantis has lost three key top executives. Tavares also highlighted how the EV transition is now a game of severe cost cutting and automotive suppliers have to figure out how to adapt or they risk going under in the next five to ten years. EVs cost 40-50% more to produce than gas powered cars on average. That means Stellantis is not in a race to transition to EVs but in a race to cut costs on EVs. The cost cutting race will be a big big big burden on part suppliers. You can already see in Europe significant tier one suppliers with very well known names that are already in trouble for this specific reason. Stellantis will begin relying even more heavily on part supplied from countries like India, Turkey, Morocco and Mexico, countries where it's possible to have a 30-40% variation on the cost of the same part, the same system with the same specs compared to parts made in the US or Europe.

毫无意外，你不会在媒体上听到太多关于这个的消息。但在过去几周内，Stellantis失去了三位关键高管。塔瓦雷斯还强调，电动车转型现在已经变成了一场严厉的成本削减游戏，汽车供应商必须想办法适应，否则他们有可能在未来五到十年内倒闭。电动车的生产成本平均比燃油车高出40-50%。这意味着Stellantis并不是在与其他公司竞争转型到电动车，而是在与成本作斗争以降低电动车的生产成本。这场成本削减战将对零部件供应商造成巨大压力。你在欧洲已经能看到一些知名的一级供应商因为这个特定原因陷入困境。Stellantis将越来越依赖印度、土耳其、摩洛哥和墨西哥等国家供应的零部件。这些国家生产的同样规格的零部件和系统的成本与美国或欧洲生产的相比，可能有30-40%的差异。

Fun fact, in an annual survey of suppliers gauging their working relationships with six major North American automakers, the company Stellantis has ranked last for several years. Finally, he said only the companies that are exposed to the harsh competition of the Chinese car makers are going to be the winners if they're able to survive the Chinese competition. The European Commission has been expected to raise its own tariffs on Chinese EVs but these provisional tariffs for now are expected to be announced by June 5th. I'm sure we'll touch on this more if and when they become official but the duties would be imposed from early July but could apply retroactively for the prior three months.

趣闻，在一项衡量供应商与六大北美汽车制造商工作关系的年度调查中，Stellantis公司连续几年排名最后。最后他说，只有那些经受住中国汽车制造商激烈竞争的公司，才能在生存下来后成为赢家。欧洲委员会预计会提高对中国电动汽车的关税，但这些临时关税暂时预计要到6月5日才会宣布。我相信如果这些关税正式实施，我们会进一步讨论，但这些关税将从7月初开始实施，可能会追溯适用于前三个月。

For now, this is just a rumor but we have a South Korean source saying that Genesis is in the final stages of working out a deal to buy electric motors from Lucid. This would be the second deal like this that Lucid has signed, having already signed another deal to supply electric motors to Aston Martin. Genesis also wants to release this ex-convertible concept sometime in 2026. Ford has released a new software update for its mobile app both for combustion vehicles and EVs. EV owners will now have access to one tap vehicle controls, quicker access to the smartphone key and enhanced charge management, including a simplified slider for a target charge. F-150 Lightning owners got a climate control feature that allows them to prepare their cabin for access. So yes, relative to Tesla software these are still very basic. Farley said there are also several improvements to ICE vehicles but they mostly have to do with the UI appearance which also applies to EV owners.

目前，这只是一个传言，但我们有一个韩国消息来源称，Genesis正在与Lucid谈判，处于购买电动马达协议的最后阶段。这将是Lucid签订的第二个类似的协议，此前Lucid已经与Aston Martin签订了供应电动马达的协议。Genesis还计划在2026年某个时间发布这款敞篷概念车。 Ford为其移动应用程序发布了新的软件更新，适用于燃油车和电动车。现在，电动车车主可以使用一键车辆控制、更快速的智能手机钥匙访问以及改进的充电管理功能，包括简化的充电目标滑块。F-150 Lightning车主还获得了一项气候控制功能，可以为进入车厢做准备。所以，相比于特斯拉的软件，这些功能还是相对基础的。Farley表示，燃油车也有一些改进，但主要是界面外观的调整，这些调整同样适用于电动车车主。

Alright guys, this is something that I have to do, just a few moments to counter some of the critics of AG1, the sponsor of this video, those that call it a scam. I'll be the first person to say, most vitamins are garbage because they're hard to absorb and they're unregulated so dosing can be very unreliable when it comes to quality and purity. Unless it's third party tested and that third party is not a sham. As a lot of you know, AG1 is certified by NSF, a reputable unbiased third party. Go ahead, ask the critics what they think about chelated forms of minerals. I guess most won't have any idea what the question means. Chelated means minerals that have been combined with amino acids because the body absorbs amino acids very well. Translation, minerals that are easier to absorb.

好吧，大家，这件事我不得不做一下，只需要几分钟来反驳一下那些说AG1是骗局的批评者，这是这个视频的赞助商。我会第一个承认，大多数维生素都是垃圾，因为它们很难被吸收，而且没有监管，所以在质量和纯度方面的剂量可能非常不可靠。除非它经过第三方测试，而且这个第三方不是个骗子。就像很多人知道的那样，AG1已经通过了NSF的认证，这是一个有声誉的公正的第三方。去吧，问问那些批评者他们对螯合矿物质的看法。我猜大多数人根本不知道这个问题是什么意思。螯合意味着矿物质已经与氨基酸结合，因为人体对氨基酸的吸收非常好。翻译一下，螯合矿物质更易于吸收。

It's a stone cold fact, millions of people are nutrient deficient and my point is that not all supplements are created equal and more is not always better in this world. Quality over quantity is a golden rule of vitamins and minerals. AG1's 75 vitamins, minerals and probiotics are rigorously tested, studied and reviewed and their mission is purity and quality backed by research. And if you'd like to see why people like Lewis Hamilton and his former female trainer Angela Cullen, elite athletes who take AG1 every day are on board. You can get five travel packs and a one year supply of vitamin D3K2 using my link drinkag1.com slash electrified linked below. Enjoy.

这是一个不可否认的事实，数百万人存在营养缺乏的问题。我的观点是，并不是所有的补充剂都是同样优质的，而且在这个世界上，更多并不总是更好。注重质量胜于数量是维生素和矿物质的黄金法则。AG1的75种维生素、矿物质和益生菌经过严格测试、研究和审查，他们的使命是基于研究的纯净和高质量。如果你想了解为什么像刘易斯·汉密尔顿和他的前女性教练安吉拉·库伦这样的精英运动员每天都在服用AG1，你可以通过我的链接drinkag1.com/electrified获取五包旅行装和一年的维生素D3K2供应。享受吧。

We got some new information about the upcoming Cadillac optic, which is supposed to be the entry level EV for the Cadillac brand. The 2025 optic starts at $54,000 and a GM exec confirmed it will qualify for the full tax credit. It'll have an 85 kilowatt hour battery pack and the GM estimate for range is currently 300 miles, but that's not from the EPA. The optics wheelbase is about a half foot shorter than the Lyric and the curb weight for the optic is 5,192 pounds, roughly 800 pounds heavier than the Model Y. Inside it has a 33 inch curved display that combines the instrument cluster with the central touch screen in one solid piece of glass.

我们获得了一些关于即将推出的凯迪拉克 "Optic" 的新信息。这款车被定位为凯迪拉克品牌的入门级电动车。2025年款 "Optic" 的起售价为54000美元，一位通用汽车高管确认它有资格获得全额税收抵免。它配备了一个85千瓦时的电池组，通用汽车估计的续航里程目前为300英里，但这并不是美国环保署（EPA）提供的数据。"Optic" 的轴距比 "Lyric" 短大约半英尺，整车重量为5192磅，大约比特斯拉 Model Y 重800磅。车内拥有一个33英寸的曲面显示屏，将仪表盘和中央触摸屏结合为一整块玻璃。

The optic will have Google's built in Android software, but still no apple car play and no Android auto. The optic is set to go on sale late this fall and will be available in two trims, luxury and sport. In addition to the US, this EV is supposed to be available in Europe as well as for other international markets. One of the biggest downsides I'm seeing of this vehicle is it's only capable of 150 kilowatt charging speeds. But as we've said many times on the channel, it's really all about the charging curve and how long the battery pack can sustain those speeds. Another negative, the optic will not have a front trunk, which allowed Cadillac to package peripherals up front so they could optimize the rear half of the vehicle. And all optics will have a dual motor setup with all wheel drive.

这款光学电动车将搭载谷歌内置的安卓系统，但仍然不支持苹果CarPlay和Android Auto。光学电动车计划在今年秋末上市，并将提供两个版本：豪华版和运动版。除了在美国销售外，这款电动车还将在欧洲及其他国际市场推出。我认为这款车最大的缺点之一是它的充电速度仅为150千瓦。但正如我们在频道中多次提到的那样，关键在于充电曲线以及电池组能维持这种充电速度的时间长度。另一个缺点是，光学电动车没有前备箱，这意味着凯迪拉克将一些外围设备安置在前部，以便优化车辆的后半部分。所有光学电动车都将配备双电动机和全轮驱动。

Let me be very clear here, this news item is in no way a recommendation for me about this fund. I'm just saying that ARK Invest and their venture fund now owns a portion of XAI. Not only that, but this fund owns SpaceX as well and they've invested in nearly 50 companies, most of which are private. This fund comes with a sizable management fee of 2.75%. There's only about 54 million dollars in this fund and looking at the top 10 holdings as of the end of April, SpaceX is the largest holding, just shy of 14%. On X, Alex said by constantly shorting Tesla for years, the fund of Jim Chanos has lost 96% of its value from 6 billion in 2008 down to 200 million in November 2023. Elon replied, saying, it's not just that he would short Tesla, he would also push false stories about Tesla in the media, who performed for him like circus poodles.

让我来说明一下，这条新闻并不代表我对该基金的推荐。我只是说ARK Invest及其风险投资基金现在持有一部分XAI。不仅如此，这个基金还持有SpaceX，他们已经投资了近50家公司，大多数都是私人公司。这个基金的管理费高达2.75%。该基金总额大约为5400万美元，截至4月底，SpaceX是其最大的持仓，占比接近14%。在X平台上，Alex提到，Jim Chanos的基金由于多年来不断做空特斯拉，其价值从2008年的60亿美元缩水到2023年11月的2亿美元，损失了96%的价值。Elon回复说，不仅仅是他做空特斯拉，他还会在媒体上散布关于特斯拉的不实报道，而那些媒体就像马戏团的小狗一样为他表演。

You may recall late last year, we learned that Jim Chanos had decided to shut down his hedge funds. However, he's not out of the woods as just yesterday, we learned that he's been accused of embezzling company funds for personal use and enriching his girlfriend in the process. He's not guilty yet, but there is a saying out there, he reap what you sow. Drive Tesla Canada is saying the Tesla Semi will be presented at the commercial vehicle exhibition in Hanover, Germany. This is the first time the truck will be shown in Europe. DTC goes on to say that this move may mean Tesla is ready to gain momentum for mass production, but let's slow down a bit and not forget that the new Tesla Semi Factory for mass production is not going to be making semis for customers until early 2026 at the earliest.

你可能还记得去年年底，我们得知吉姆·查诺斯决定关闭他的对冲基金。然而，他并没有完全摆脱麻烦，因为就在昨天，我们听说他被指控挪用公司资金供个人使用，并且在此过程中让他的女朋友受益。他目前还未被判有罪，但有句话说，种瓜得瓜，种豆得豆。 Drive Tesla Canada 表示，特斯拉半挂卡车将在德国汉诺威的商用车展览会上亮相。这是这款卡车首次在欧洲展示。DTC 进一步表示，这一举动可能意味着特斯拉准备在大规模生产方面取得进展，但我们应该冷静点，不要忘记大规模生产的特斯拉半挂卡车新工厂要到最早2026年初才能开始为客户生产卡车。

However, we know that Tesla is slowly increasing production at the prototype facility, we'll call it at Giganovada currently. More US customers are set to take deliveries of the Tesla Semi later this year, so could a European customer sneak into that group. Even if not this year, maybe sometime in 2025, opening up the Tesla Semi to an entirely new market, where Tesla executives have said they see big potential for the Tesla Semi and Elon did say at some point he plans to build the Tesla Semi. Currently, Tesla is flooding the internet with different documents and letters and proposals and requests to Tesla shareholders for the upcoming votes.

然而，我们知道特斯拉正在逐步增加在试生产设施的产量，我们暂且称其为目前的“Giganovada”。更多的美国客户预计将在今年晚些时候收到特斯拉Semi卡车的交付，所以是否会有欧洲客户也混入这个群体呢？即便不是在今年，也有可能是在2025年某个时候，这将为特斯拉Semi卡车打开一个全新的市场。而特斯拉高管们也表示，他们在这个市场上看到了巨大的潜力。埃隆·马斯克也曾说过，他计划在某个时候生产特斯拉Semi卡车。目前，特斯拉正向互联网发布各种文件、信函、提案和请愿书，供特斯拉股东在即将到来的投票中参考。

I'll include this 28 page PDF below, which is a Tesla presentation to investors and as you can see, they talk about how different Tesla is as a company from 2018 to now. Quick numbers in 2018, Tesla's revenues were $11.8 billion, they delivered 103.1 thousand vehicles in 2017 and lost $2.2 billion. Present day, Tesla's revenues are $96.8 billion, they delivered 1.8 million vehicles last year and made $15 billion in profit. Can somebody make sure our friend Marcy sees this chart?

我会在下面附上这份28页的PDF，这是特斯拉向投资者展示的演示材料，正如你所见，他们展示了2018年以来特斯拉的巨大变化。先来看一下快速数据：2018年，特斯拉的收入是118亿美元，他们在2017年交付了10.31万辆汽车，同时亏损了22亿美元。而现今，特斯拉的收入已达到968亿美元，去年交付了180万辆汽车，并且实现了150亿美元的利润。能不能确保我们的朋友Marcy看到这张图表？

I'm not going to go through every page here because a lot of this information isn't new, they're just presenting it in a new package. The good news with all of this though, one thing is for sure, there is no way a judge will be able to argue that shareholders were not fully informed this time around. They also called out Texas is expected to provide more certainty for innovative big ticket business decisions. Delaware courts are increasingly second guessing boards and stockholders reasoned decisions and limiting their freedom to act decisively to create extraordinary shareholder value.

我不会逐页翻阅这里的每一页，因为很多信息并不是新的，只是以一种新的方式呈现。好消息是，这一次，法官无法争辩说股东没有完全了解情况。他们还指出，德克萨斯州有望在创新的大额商业决策方面提供更多确定性。与此相对，特拉华州法院越来越多地质疑董事会和股东的理性决策，并限制他们果断行动以创造非凡股东价值的自由。

They laid out with some pretty bar charts how ambitious that 2018 compensation plan actually was. Example from Tesla's fiscal year 2017 actual adjusted EBITDA to the highest milestone award, that was good for a 22x. Perhaps my favorite chart of them all is this right here, the 2018 award did what it was supposed to do, they showed revenue growth, adjusted EBITDA growth and stockholder return from 2017 to 2023, showing Tesla leading the way beating companies like Nvidia, Meta, Amazon, Alphabet and others. Again, we've been over a lot of that data, but I'll have the full report linked below.

他们用一些漂亮的柱状图展示了2018年薪酬计划有多么雄心勃勃。以特斯拉2017财年的实际调整后EBITDA为例，到最高里程碑奖，这相当于增长了22倍。也许我最喜欢的图表就是这个，2018年的奖励达到了预期效果，他们展示了从2017年到2023年的收入增长、调整后的EBITDA增长和股东回报，显示特斯拉领先于像英伟达、Meta、亚马逊、Alphabet等公司。我们已经讨论了很多数据，但我会在下面附上完整报告的链接。

Then also, we just got a new multi-page report where Tesla is defending themselves about some of the complaints Glass Lewis just raised over the weekend. Tesla said Glass Lewis omits key considerations, uses faulty logic and relies on speculation and hypotheticals. What is not hypothetical and is conspicuously absent from the Glass Lewis report is the over $735 billion in value, the award incentivized Elon to help create for shareholders.

然后，我们还刚刚收到一份新的多页报告，特斯拉正在为自己辩护，针对的是Glass Lewis公司在周末提出的一些投诉。特斯拉表示，Glass Lewis忽略了一些重要的因素，使用了错误的逻辑，并且依赖于猜测和假设。一个明确的事实却没有出现在Glass Lewis的报告中，那就是由于激励计划，埃隆·马斯克为股东创造的超过7350亿美元的价值。

And how about this, they said Glass Lewis is on record as recommending four three other recent re-incorporations from Delaware to Texas. Example in 2022, in most respects the corporate statutes in Delaware and Texas are comparable. The other proxy firm ISS said the same in 2022. With that context, this now feels a bit like Tesla is being targeted. How about this, Glass Lewis says, resending the award and paying Elon nothing is acceptable because it was always possible that the award would result in no payout if performance targets were not achieved. So, Elon and the company should have anticipated that he might work for no compensation for six years.

他们说，Glass Lewis 之前曾建议将最近从特拉华州重新注册到德克萨斯州的四个公司中的三家公司重新注册到德克萨斯州。举个例子，2022年，特拉华州和德克萨斯州的公司法规在大多数方面是相似的。另一家代理公司 ISS 在2022年也说了同样的话。在这种背景下，现在感觉特斯拉有点像是被针对了。再说一个例子，Glass Lewis 表示，撤销奖励并不给埃隆任何报酬是可以接受的，因为如果未达成业绩目标，奖励本来就有可能不发放。因此，埃隆和公司应该预见到他可能会在六年内无偿工作。

At this point, I hope everybody out there can see the type of people and the type of thinking that we're dealing with. And as Tesla should, they said the fact is this is absurd. That Tesla and Elon agreed on a compensation plan that was fundamentally based on a risk-verse-reward framework simply cannot be basis for renegging on the reward after the fact. Elon hit the targets that were anticipated and did create extraordinary growth in stockholder returns, receiving no compensation whatsoever in return for achieving exceptional results for Tesla and its stockholders was never part of the deal.

此时此刻，我希望大家能看清我们正在应对的人和他们的思维方式。特斯拉也应该明白，这个情况非常荒谬。特斯拉和埃隆（马斯克）同意的薪酬方案是基于风险与回报框架的，这不应成为事后反悔的理由。埃隆达到了预期的目标，并为股东创造了巨大的回报。从未有任何协议表明埃隆在为特斯拉及其股东取得卓越成绩后，不会获得任何报酬。

To me, it truly is ridiculous that Tesla has to take the time to make statements to refute statements like this. Glass Lewis said it wasn't sure if the grant date value of the award needed to be as high as it was. Tesla said the fact is this is pure speculation. Glass Lewis may speculate some other compensation arrangement may have been available and may have achieved a similar result, but the fact is that the award as designed was the one that the board determined and stockholders agreed was appropriate to accomplish its objectives. Speculation in hindsight about other compensation structures does nothing to help Tesla or its stockholders with the current problem.

在我看来，特斯拉不得不花时间来反驳这样的言论实在是荒谬。Glass Lewis表示，他们不确定奖励的授予日期价值是否需要这么高。特斯拉回应说，这纯粹是猜测。Glass Lewis可能猜想其他的薪酬安排可能会达到类似的效果，但事实是，这个奖励方案是董事会确定的，股东也同意它适用于实现目标。事后对其他薪酬结构的猜测对特斯拉或其股东解决当前问题毫无帮助。

Glass Lewis does not even mention once, in its 71-page report, the tremendous value created for Tesla stockholders. Glass Lewis says other considerations regarding Elon's time commitments to Tesla may continue to warrant consideration in the current moment and highlight weakness in the award at achieving adequate levels of executive focus. Tesla said the fact is that simply ignores the facts. Glass Lewis may believe Elon should have done so with more focus, but the fact is that Tesla's performance speaks for itself. Forget the Tom Brady roast, I think we need a Tesla roast of Glass Lewis and ISS and for that matter, all of legacy media sometime in the future as the next Netflix special. Honestly, good for Tesla for standing up for itself and fighting back against some of this nonsense that is being shared around by Glass Lewis.

在其71页的报告中，Glass Lewis（格拉斯-刘易斯）一次都没有提到为特斯拉股东创造的巨大价值。Glass Lewis表示，目前Elon Musk（埃隆·马斯克）对特斯拉的时间投入仍需考虑，并指出其奖励方案在确保执行层专注度方面存在不足。而特斯拉回应说，这忽略了事实。Glass Lewis可能认为Elon应当更专注于特斯拉，但实际上特斯拉的业绩已经证明了一切。别提Tom Brady（汤姆·布雷迪）的吐槽了，我觉得我们以后应该在Netflix上办一个特斯拉对Glass Lewis和ISS（机构股东服务）以及所有传统媒体的吐槽大会。这确实值得称赞，特斯拉敢于站出来，对抗Glass Lewis散布的一些无稽之谈。

I'll leave you guys with an awesome video from Chamath PolyHappatia on Tesla from 2019, but as you'll see, it's very prescient and Elon thinks so as well. Don't forget, check out AG1 linked below if you're interested. Hope you guys have a wonderful day. Please like the video if you did. You can find me on X linked below and a huge thank you to all of my Patreon supporters. If you're an investor in Tesla, you're 100% comfortable with the way he is a CEO. Yeah. None of the actions that he's done over the last year or so give you pause at all. What do you mean? Meaning the Model 3 is an incredible car. I just bought one. It's incredible. I bought it. The way that it was secured, I mean, what was that? Okay, maybe he stepped out of bounds. My point is you're getting caught up in the window dressing. I'm focusing on the main course.

我给大家带来了Chamath PolyHappatia 2019年关于特斯拉的一个精彩视频，你们会看到，这个视频非常有前瞻性，连Elon也这么认为。别忘了，如果你感兴趣，可以看看下面链接的AG1。 希望大家有美好的一天。 如果你喜欢这个视频，请点赞。 你可以在下面找到我的X账号链接，感谢所有我的Patreon支持者。 如果你是特斯拉的投资者，你肯定对他作为CEO的表现非常放心。 是的，他在过去一年左右的行为完全没有让你犹豫过。是什么意思？也就是说，Model 3 是一辆了不起的车。我刚买了一辆，真的很棒。我买了这辆车，然而车的安全性是怎么回事？好吧，也许他有可能越界了。我的观点是，你们关注了表面现象，我则在关注实质内容。

The main course is on the table. The choice for you as a buyer or seller of that stock is do you want to eat it? If you get caught up in all of the stuff around the edges, maybe he may mistweet from time to time. My point is who cares? Your job as a smart investor is to separate the facts and the news from the fiction and the noise. And all of that stuff doesn't matter. It does not change the fact that tens of thousands of consumers are buying that car faster than they can get their hands on it. It doesn't change that the minute you sit inside that car, your definition of what is expected is altered forever. And you wonder why every other car around you that you ever step in that you may buy doesn't have the same things that that car offers. So at the end of the day, whether you like his style or not, his substance is irrefutable. If you take a five-year step back and say, what is he promised in 2014 to what is he doing in 2019, you'd be ecstatic. Similarly, if you take a step back and say from 2019 to 2024, let the man do his job. Will we be better or worse off as a planet, as a species, as humanity, as consumers? We will be better off.

主菜已经摆在桌上了。作为这只股票的买家或卖家，你的选择是：你想吃它吗？如果你被边缘的那些杂事所困扰，比如他偶尔发一些错的推文。我的观点是，这有什么关系？作为一个聪明的投资者，你的任务是将事实和新闻与虚构和噪音区分开来。那些杂事不重要，它们不会改变成千上万的消费者正在以极快的速度购买那辆车这一事实。也不会改变你一旦坐进那辆车，你对期望的定义将永远改变的事实。你会疑惑为什么你以后乘坐或购买的其他任何车都没有那辆车所提供的功能。所以，最终，无论你是否喜欢他的风格，他的实质内容是无可辩驳的。如果你回顾五年前的情况，从2014年到2019年，你会非常激动。同样地，如果你展望2019年到2024年，让他做他的工作。作为一个星球、一个物种、人类和消费者，我们会变得更好。