What To Make of Tesla's "New Book" ⚡️

Finally, the voting is over. Regardless of how you voted, we should be celebrating this chapter being mostly behind us, so Tesla can refocus on execution and this new book that Elon mentioned. I do first want to zip through some news so it does not get lost in the shuffle. Elon did make a deal with whole Mars for Tesla to become the most valuable company on Earth. Now, as we know, X comments are binding. Tesla is expected to increase the price of the Shanghai Model 3's headed for the EU, including Germany, France, Ireland, Belgium, and Hungary, but Tesla did not specify the size of the price increase. These price hikes will take place by July 1st, and Tesla was a company that cooperated with the EU's investigation, so they're going to be subject to a 21% tariff, but Tesla could receive an individually calculated rate when definitive duties are imposed in November. This is not a great development for already struggling Tesla sales across the EU, especially Germany.

终于，投票结束了。不管你怎么投票，我们都应该庆祝这一章基本结束了，这样特斯拉可以重新专注于执行和埃隆提到的新书。我首先想快速浏览一下新闻，以免在混乱中被忽视。埃隆与Whole Mars达成了一项协议，让特斯拉成为地球上最有价值的公司。众所周知，X上的评论是具有约束力的。特斯拉预计将提高出运至欧盟的上海Model 3的价格，包括德国、法国、爱尔兰、比利时和匈牙利，但特斯拉没有说明价格上涨的具体幅度。这些价格上涨将在7月1日之前进行，而特斯拉是配合欧盟调查的公司，所以他们将面临21%的关税，但当在11月征收最终关税时，特斯拉可能会获得单独计算的税率。对于本已在欧盟，特别是德国挣扎的特斯拉销量来说，这不是一个好的发展。

Ford has completely scrapped its Model E dealership requirements, the ones that required dealers to install chargers and learn EV service and have set EV pricing. It's all scrapped just six months after launching the program. This is effective July 1st. This is not great for the EV transition and more specifically for Ford's long-term place The Model Y won the new car of the year from AutoTrader UK for 2024. Registrations for other vehicles for 2023 have finally come in, and the Model Y is confirmed as the best-selling car in the world, and here's a chart of the top 10 with the Model 3 cracking the list in the 10th spot with 508,000 registrations.

福特完全取消了其Model E售后服务的相关要求，这些要求包括经销商必须安装充电设备、学习电动车服务以及设定电动车价格。在推出该计划仅六个月后，这些要求就全部被废除了，这是从7月1日起生效的。这对电动车的推广，特别是对福特的长期发展来说并不是好消息。 与此同时，特斯拉的Model Y被英国AutoTrader评为2024年度新车。而2023年的其他车型的注册数据也终于公布了，Model Y被确认为全球最畅销的汽车。这里有一张前10名车型的榜单，特斯拉的Model 3以508,000辆注册量排在第十位。

BYD is set to invest $14 billion in self-driving tech, but no timetable was given. Currently, many BYD cars are not equipped with 8-ass functions, and the word is BYD has around 5,000 engineers working on autonomy. Shanghai is now allowing 10 Tesla vehicles to carry out testing of FSD to pave the way for its rollout in China, according to the Shanghai Observer. So it's finally happening, and speaking of FSD, here's one quick idea for when you're out there cruising. Just like FSD, I'm a big fan of continuous self-improvement. What I've been listening to in my car lately may surprise some of you. What you just heard was a podcast on the Babbel app, one of the top language learning apps in the world, and the sponsor of this video.

比亚迪计划投资140亿美元用于自动驾驶技术，但尚未给出时间表。目前，许多比亚迪汽车没有配备8-ASS功能，据称比亚迪有大约5000名工程师在研究自动驾驶技术。据《上海观察》报道，上海目前允许10辆特斯拉汽车进行FSD测试，为其在中国的推广铺平道路。所以，这件事终于开始了。说到FSD，这里有一个小建议，当你在驾驶时可以考虑一下。就像FSD一样，我也非常喜欢持续自我提升。最近在车上我听的东西可能会让你们感到惊讶。你刚刚听到的是通过Babbel应用收听的播客，这是世界上顶尖的语言学习应用之一，也是这个视频的赞助商。

Check out this study. The findings show that the learning of a foreign language may generate a lot of benefits for older individuals like enhancing cognitive functioning and enhanced self-esteem. Babbel is also scientifically proven to help you start speaking a new language in just three weeks, and they have live classes which will certainly help you focus. Tambien, Miyago, Amigo, Deiunsu, Scrip Tour, Electrificado, KVV in Mexico. Ashley and I plan to visit sometime, so we're brushing up on our Spanish. The lesson we jumped to? How to order drinks. You only need a few minutes each day to progress. You can customize the length of lessons, and the user interface is awesome, plus Babbel works across platforms.

看看这项研究。研究结果显示，学习外语可以为老年人带来很多好处，比如增强认知功能和提高自尊。Babbel也被科学证明可以在短短三周内帮你开始说一种新语言，而且他们还有直播课程，肯定能帮你集中注意力。此外，还有Miyago、Amigo、Deiunsu、Scrip Tour、Electrificado、KVV在墨西哥的服务。Ashley和我计划有一天去墨西哥，所以我们在加强我们的西班牙语。我们跳到的课程是如何点饮料。你每天只需要几分钟就能进步。你可以定制课程长度，并且用户界面非常棒，另外Babbel可以跨平台使用。

You can get 60% off on your subscription using my link in the description below. Babbel also offers a 20-day money-back guarantee, so you have nothing to lose. Dei Strutar. Now for the annual meeting, here are the voting results. Just know that the stockholder proposal votes are non-binding, which means the vote count does not directly determine the outcome. Tesla's board will decide whether or not to implement a proposal, even if the majority of shareholders support it. This was the case with Proposals 6 and 7, which were reducing director terms to one year, and the other was for a simple majority voting, so we'll see what Tesla chooses to do there.

你可以通过下方描述中的我的链接获得订阅六折优惠。Babbel 还提供20天退款保证，所以你没有任何损失。Dei Strutar。现在是年度会议的时间，以下是投票结果。请注意，股东提案的投票是非约束性的，这意味着票数不会直接决定结果。即使大多数股东支持某个提案，特斯拉董事会也会决定是否实施。这种情况发生在第6和第7项提案上，提案内容分别是将董事任期减少到一年和简单多数投票，我们拭目以待特斯拉将如何决定。

But Tesla is now a Texas corporation, and perhaps this is where Elon and Tesla may have flexibility with a dual share class, one for voting only, with no economic incentive to get Elon to his 25% desired voting control. With Elon likely to get his 2018 comp plan options back, his ownership would be back around 21%. So while the comp plan vote passed with 77% of the votes cast in favor by the NASDAQ standard, there's a small chance a Judge McCormick could do something crazy here, but it would have to be just that because the prior argument was that shareholders were not informed, and there's no way you can make that argument now. Elon has decided to send a parting gift to Delaware, a cake with Vox Populae, Vox Day, or the voice of the people as the voice of God, which brings us to Tesla's new book. I already shared my thoughts on Elon talking about a $30 trillion future valuation for Tesla, but I do think it's important to note annual meetings are really meant to rally the shareholders, and this year it was to celebrate the most important votes going in Tesla's favor.

不过特斯拉现在是一家德州公司，也许这会给埃隆和特斯拉在双层股权结构上带来一些灵活性。一类股只有投票权，没有经济激励，可以让埃隆实现他希望的25%的投票控制权。而埃隆大概率会重新获得他2018年薪酬计划的期权，这样他的持股比例会回到大约21%。尽管在NASDAQ的标准下，薪酬计划投票以77%的赞成票通过，但法官麦考密克还是有小概率会做出一些意外决定，不过这种可能性极小，因为之前的争论点是股东未被告知，现在显然无法再这么说了。埃隆决定送一份告别礼物给特拉华州——一块蛋糕，上面写着"Vox Populae, Vox Dei"，也就是"人民的声音即上帝的声音"，这引出了特斯拉的新篇章。我之前已经分享过我对埃隆提到特斯拉未来估值达30万亿美元的看法，但我认为重要的是要指出，年度会议的真正目的是鼓舞股东，而今年的会议是为了庆祝那些对特斯拉有利的最重要的投票通过。

Although I would prefer a more granular roadmap for the next 12-24 months of how Tesla is working to increase EV sales and to get EPS trending in the right direction again, that's not really what we should expect at the annual meeting. With August 8th around the corner though, Tesla is going to need to come with some more tangible plans and timelines rather than just a vision for what the future could be. Elon did say that just based on autonomy, Tesla could more than 10x the value of the company, and Elon believes that's what will happen. And that sounds great, but questions come to mind like when does Tesla plan to take responsibility for FSD, you know what metrics need to actually be hit. He's already talking about going one year without an intervention with upcoming releases, but many of us are out here using it in the real world with interventions on every drive.

尽管我希望能有一个更详细的路线图，展示特斯拉在未来12至24个月内如何增加电动车销量以及重新使每股收益（EPS）走上正轨，但这并不是我们应该在年度会议上期待的内容。然而，随着8月8日的临近，特斯拉需要提供一些更具体的计划和时间线，而不仅仅是对未来的远景。埃隆确实说过，仅凭自动驾驶，特斯拉的公司价值就可以增加十倍以上，而且他相信这会发生。这听起来很不错，但随之而来的问题是，特斯拉打算什么时候对全自动驾驶（FSD）承担责任，以及需要达到哪些具体指标。他已经在谈论即将发布的版本可以做到一整年无需人工干预，但我们中许多人在现实生活中使用它时，每次驾驶都需要进行干预。

I just took a friend on a test for over 2 hours and I had 5 or 6 actual disengagements, so that pace is a bit higher than once every year. And listen, I don't want to sound negative here, but as always, I feel the need to balance out the sentiment I see in the community and now there is undoubtedly a group of investors fully expecting Tesla to hit $30 trillion. So I think some things need to be said as a counterweight. It was interesting to learn Tesla's limiting factor for FSD is the time it takes to figure out which AI model is actually best, so Tesla is having to develop some creative ways to test which one is better as fast as possible before they can release the superior option.

我刚刚带朋友进行了一次超过两个小时的测试，我有5到6次实际干预，所以这个频率比每年一次要高一些。听着，我不想显得消极，但像往常一样，我觉得有必要平衡一下我在社区里看到的情绪。现在毫无疑问，有一群投资者完全期待特斯拉的市值达到30万亿美元。因此，我认为有些事情需要作为反制意见来说一说。了解到特斯拉在全自动驾驶（FSD）方面的限制因素是确定哪个AI模型最优所需的时间，这很有趣。因此，特斯拉不得不想出一些创造性的方法，以尽可能快地测试出哪个模型更好，然后才能发布那个更优的选项。

We learned Tesla will uncork the potential of hardware 4 finally later this year and the supercomputer in Gigatexis will use primarily hardware 4 alongside the Nvidia chips. Tesla is working on hardware 5 which we're now calling AI 5 and it's comparable to an Nvidia B200 class of computer. AI 5 is supposed to come toward the end of 2025 and Elon said it would be 10 times more capable than hardware 4, but if it follows the hardware 4 trajectory, Tesla may not use those abilities until late 2026. And we know Tesla's awesome at chip design and the best at inference, but the real question will always be how is this all going to translate into profits for Tesla.

我们了解到，特斯拉将在今年晚些时候最终释放硬件4的潜力，位于得克萨斯超级工厂的超级计算机将主要使用硬件4以及Nvidia芯片。特斯拉目前正在研发我们称之为AI 5的硬件5，其性能可与Nvidia B200级别的计算机相媲美。据说AI 5将在2025年底问世，马斯克表示其性能将比硬件4强大10倍。但如果沿用硬件4的路线，特斯拉可能要到2026年底才会真正利用这些功能。我们都知道特斯拉在芯片设计和推理方面表现出色，但真正的问题始终是这些能力如何转化为特斯拉的利润。

This is part of that uncertainty that I'm talking about with this new book for Tesla. So much talk of compute and data, but it's really tough to actually discern how and when this will translate into higher take rates for FSD on the consumer side. It's just going to be a lot harder to predict Tesla's progress in this new book than it was when we were primarily following manufacturing ramps and sales numbers. Elon also talked about selling 100 million optimist bots per year at a cost of $10,000 each and a sale price of $20,000 each for $1 trillion in profit per year. Slap on a 20p ratio and that's a $20 trillion valuation just from optimists.

这就是我所说的关于特斯拉这本新书的不确定性的一部分。虽然有很多关于计算和数据的讨论，但实际上很难判断这些将如何以及何时转化为消费者方面更高的FSD（完全自动驾驶）采纳率。与以前主要关注制造增长和销售数字相比，现在要预测特斯拉在这本新书中的进展将变得更加困难。埃隆还提到每年销售1亿个Optimus机器人，每个成本1万美元，售价2万美元，每年可获利1万亿美元。以20倍市盈率计算，仅仅通过Optimus机器人就能达到20万亿美元的估值。

And okay, great, is it possible? Sure, but so is 20 million cars per year for Tesla and we know Tesla is nowhere near those numbers and not likely to be any time in the 2020s. I just personally think any price targets or extrapolations 15, 20, 30 years into the future are silly and I'm a fan of under promising and over delivering, especially for a company of Tesla's size. Most of us already know the ceiling potential for Tesla, now we want to learn about the plans and the execution and how Tesla is making it happen. I have never wavered on Tesla becoming the most valuable company in the world, I fully believe they'll do it and it could happen as soon as the 2020s, but let's start there before talking about being 10 times more valuable than the most valuable company in the world now.

好的，明白了。那么，这有可能实现吗？当然有可能，但对特斯拉来说每年生产2000万辆汽车也是同样的道理，而我们都知道特斯拉现在离这个目标还很远，而且在2020年代实现的可能性也不大。我个人认为，对未来15年、20年、30年的价格目标或预测都是不切实际的。我更喜欢低调承诺、高调实现，特别是对特斯拉这样规模的公司。多数人已经了解了特斯拉的潜力上限，现在我们更想知道的是他们的计划、执行力，以及他们是如何实现目标的。我从来没有动摇过对特斯拉成为世界上最有价值公司的信心，我完全相信他们会做到，而且这种情况可能很快就在2020年代发生，但在讨论其价值是当前世界最有价值公司10倍之前，让我们先从这个目标开始吧。

I just want to touch on a few things by product line, on the upcoming vehicles we have three vehicles to be unveiled, hopefully all on August 8th, the options are going to be the CyberCab, a full on Robotaxi, a more affordable $25,000 Tesla with a steering wheel in pedals, a van or a people hauler, and then the Roadster. So what combination of these four possibilities we ultimately get, we should know here in 54 days. Elon did have an odd comment about people thinking they're not going to be amazing at first, but just wait, they will be, it's just a guess for me, but maybe Elon means they'll be less futuristic looking than some are expecting, but if that were the case, it may actually appeal to a wider audience.

我想简要谈一下各产品线的一些情况。在即将发布的新车中，我们有三款将亮相的车型，希望都能在8月8日公布。这些车型包括：CyberCab，一款全自动驾驶的出租车；一款更实惠的25,000美元的特斯拉，带有方向盘和踏板；一款面包车或者多用途载人车；以及Roadster。那么，这四种可能的组合中最终会推出哪几款，我们应该会在54天内知道。埃隆（Elon）曾经有一个奇怪的评论，他说人们起初会觉得这些车不怎么惊艳，但请拭目以待，它们真的是棒极了。这只是我的猜测，也许埃隆的意思是，它们的外观可能没有一些人预期的那么未来感十足，但如果真是这样，反而可能会吸引更广泛的受众。

I for one though am not concerned about this comment because Tesla has never missed with a vehicle launch, each release has served its purpose very well and taken Tesla to the next echelon and I firmly believe they'll do it again here. On the Tesla semi, Elon said he approved plans for volume production on the semi last week and that this business line will move the needle financially as we talked about earlier this week, which is contrary to ARK's latest analysis, so I was glad to hear him say that. Elon was joking around during this part of the talk, arguing if you want to save money, you will use a Tesla semi because the economics are just way better, and it really was awesome to see Elon in such a good mood, dancing, joking around, fired up about the future and the vision of what Tesla could be.

翻译成中文，表达意思，尽量易读：尽管有些评论，我个人并不担心，因为特斯拉在发布新车方面从未失败过。每次发布的车型都很好地达到了目标，使特斯拉迈上了新的台阶。我坚信他们这次也会成功。关于特斯拉Semi卡车，Elon上周批准了量产计划，他表示这一业务线将产生明显的财务影响，这与ARK最新的分析相反，所以我很高兴听到他说这个。在谈话的这一部分，Elon开玩笑说如果你想省钱，就应该使用特斯拉的Semi卡车，因为经济效益更好。看到Elon心情这么好，跳舞、开玩笑，对未来充满热情与愿景，真的很让人兴奋。

So while I've been around long enough not to buy into the hype too much, it's precisely that vision and reaching for absurd targets that makes Tesla the company it is. It's just part of the secret sauce and the energy of the company. I'm still not expecting meaningful production from the new semi factory until 2026 as the progress is still very minimal on that new factory. The Cybertruck hit a record production of 1300 per week and the goal is to hit 2500 units per week by the end of this year. The foundation series will be ending soon, meaning customers may have access to a Cybertruck for under $75,000 in a few weeks opening up the tan.

所以，虽然我在这个圈子里待得够久了，不会过于轻信炒作，但正是这些愿景和对超高目标的追求造就了今天的特斯拉。这是公司的秘密武器和活力的一部分。不过，我依然不认为新的半挂车工厂会在2026年前有显著的产量增长，因为目前该工厂的进展仍然非常有限。Cybertruck的周产量创下了1300辆的新纪录，目标是在今年年底前达到每周2500辆。基础系列（Foundation Series）即将结束，这意味着客户可能在几周内可以以不到75,000美元的价格购入Cybertruck，新市场的大门将由此打开。

We got some big news for other markets like the EU and China, as Elon said Cybertruck should make it to those markets sometime next year, but will remain only for North America this year. Tesla will need to make a special version for China and Europe and they'll add that manufacturing complexity hopefully next year. On the 4680s, I know some people have been disappointed with the progress and realizing for now it may be more about Tesla having some sell independence than revolutionizing the battery industry with terawatt hour scale per year, and this is another reason why I think Tesla should be more cautious with public statements. Now definitely share certain figures with your team internally and push for those things, but this is how investors become disillusioned with the company and with Elon.

我们有一些关于其他市场的大新闻，比如欧盟和中国。正如埃隆所说，Cybertruck 应该会在明年进入这些市场，但今年只会在北美销售。特斯拉将需要为中国和欧洲制造特殊版本，并希望在明年增加这种制造复杂性。 关于 4680 电池，我知道有些人对进展感到失望，意识到目前可能更多的是特斯拉想要在电池供应上实现一定的独立性，而不是以每年太瓦时规模来彻底改变电池行业。这也是我认为特斯拉在公开声明时应该更加谨慎的另一个原因。内部肯定要与团队分享某些数据并推进这些目标，但正是这样，投资者才会对公司和埃隆感到失望。

But Tesla does have a clear path to 4680s being the most competitive sell from a manufacturing efficiency standpoint, and Elon did say if sell prices had not fallen off a cliff the past year from suppliers, the 4680 would already cost less than comparable sell from suppliers. So I think any frustration that Tesla's sell aren't already at a similar cost of goods sold with suppliers right now is a bit unfair to Tesla. Elon did confirm there is a path for 4680s to reach cost parity with suppliers at the very low pricing by the end of this year. And I just think it'll never be fully understood how hard this problem really is to spin up a battery line from nothing with new chemistry and a new form factor.

但特斯拉确实有一条明确的路径，使得4680电池在制造效率方面成为最具竞争力的产品。埃隆·马斯克说，如果去年供应商的售价没有大幅下降，4680电池现在已经比来自供应商的同类产品更便宜。所以，我认为，对特斯拉现在的电池成本与供应商的同类产品相当这一点表示不满，有些不公平。埃隆确认，4680电池有希望在今年年底前达到与供应商非常低的售价持平。而我认为，完全理解从零开始建立一个具有新化学成分和新形式的电池生产线是多么困难，真的是很难做到的。

Per the usual, it may be a longer and slower ramp than many would like, but Tesla taking the time and effort to do this in house is very close to paying off financially and those benefits will only increase over time with greater efficiencies and economies of scale. And given geopolitical trends, the 4680s may eventually be way more important with a much greater payoff than some are currently thinking. Tesla's cathode and lithium refinery are very different from the industry standard as Elon said you can eat off the floor in Tesla's facilities and it's not recommended in the others. Tesla does still have a major nut to crack on the DBE for the cathode as they may hit price parity while importing dry cathode material from suppliers. So if Tesla can figure this out eventually in house, that could be a major boost.

根据惯例，这个过程可能比许多人希望的要更长、更慢，但特斯拉在内部进行的这些工作已经非常接近于在财务上见效，并且随着效率和规模经济的提升，这些收益将不断增加。鉴于地缘政治趋势，4680电池的重要性和回报可能会比目前一些人预期的要大得多。特斯拉的阴极和锂精炼厂与行业标准非常不同，正如Elon所说，你可以在特斯拉的设施里在地板上吃东西，而其他地方则不推荐这么做。特斯拉在干式电极制造方面仍面临重大挑战，因为他们可能需要从供应商那里进口干燥的阴极材料来达到价格平价。所以，如果特斯拉最终能够在内部解决这一问题，将会是一个重大提升。

There are two Optimus bots in Fremont taking cells and placing them into a shipping container. Now it seems like there should be a custom built robot to do this much faster than Optimus, but you gotta start somewhere. It was important for Elon to highlight the non-existent humanoid supply chain. There are plenty of startups with prototypes, but in the end, someone needs to manufacture these parts at scale and Elon thinks Tesla is best positioned to do this with its mechanical and electrical engineers and it's hard not to agree. Tesla is working on another major hardware revision for Optimus for later this year or early next and then they're going to move to limited production for factory use next year to test it. They're hoping for potentially up to a few thousand Optimus robots to be working at Tesla in the factory by next year and then things will rapidly scale from there. Tesla has designed and built everything from scratch, the motors, gearbox sensors, power electronics, communication system, etc. So this is going to be very hard if not impossible for any startup to replicate. Throw in Tesla having the most power efficient inference compute and real world AI and experience with volume manufacturing and Tesla's advantages here appear to be significant and it's not hard to see. Tesla pulling away from the pack of humanoid startups as early as 2026. It's at this point Elon thinks Optimus will be quite generalized where you can give it verbal instructions or show it a video and it'll be able to learn to do a task it has never done before and Elon did confirm Optimus will use a large language model and will have personality options. A few quick hitters, Tesla's home HVAC isn't really on the product roadmap but Elon still thinks it would be a cool project to do in the future. Elon did agree to one more quarter of free FSD transfer for those wanting to upgrade their vehicles and the main reason Tesla does not do this regularly is that it adds a lot of complexity to the sales process. Tesla does plan to offer free trials of FSD perhaps for two weeks when rolling out new versions.

在弗里蒙特有两个Optimus机器人正在将电池装进一个运输容器。虽然现在看起来应该有一个定制的机器人来比Optimus更快地完成这个任务，但总要从某个地方开始。对Elon来说，强调目前并不存在的人形机器人供应链是很重要的。虽然有很多初创公司有原型机，但最终需要有人能大规模制造这些部件，Elon认为特斯拉在这方面是最有优势的，因为他们有机械和电气工程师，这方面的优势还是很明显的。特斯拉计划在今年晚些时候或明年初对Optimus进行另一次主要的硬件升级，然后明年投入限量生产，在工厂中进行测试。他们希望到明年，工厂中会有几千个Optimus机器人在工作，然后会迅速扩大规模。特斯拉从头开始设计和制造了所有东西，包括电动机、变速箱传感器、电力电子设备、通信系统等。这使得任何初创公司都很难甚至不可能复制这一点。再加上特斯拉拥有最高效的推理计算和现实世界的人工智能，以及大量生产经验，特斯拉的优势显而易见。可能在2026年，特斯拉就会在这些人形机器人初创公司中脱颖而出。届时，Elon认为Optimus将会非常通用，你可以给它口头指令或展示一个视频，它就能学会执行它从未做过的任务。Elon也确认了Optimus将使用大语言模型，并会有个性化选项。 另外几个简要的信息，特斯拉的家用HVAC系统目前不在产品路线图上，但Elon仍然认为未来做这个项目会很酷。Elon同意再给一季度的免费FSD转移，让那些想升级车辆的人使用。特斯拉不经常这样做的主要原因是它会增加销售过程的复杂性。特斯拉计划在推出新版本时提供大约两周的FSD免费试用。

When Tesla goes driverless they will use remote steering when the vehicles get stuck. It was funny to hear that Trump apparently calls Elon seemingly out of the blue. I'm sure from Trump's camp it's to build a bridge and hopefully get an endorsement but at least the two sides are friendly and on speaking terms. Tesla will reexamine the referral program in quarter three but this indirectly increases the price of the cars and we know how Tesla feels about affordability. Tesla energy is still quietly dominating growing between 200 and 300% this year for stationary storage deployments. Elon did mention a future version of the megapack that plugs directly into high voltage power lines not needing a substation but that did sound like a few years away although something to potentially vault Tesla even further ahead a plug and play megapack would boggle the mind of the utilities. Again though these annual meetings are meant to do some housekeeping to celebrate where the company has been and to paint the picture of where it can go in the future. Elon is a visionary always has been and always will be. We did not learn a ton of new information at the meeting but as I'm sure Elon would want you to know if you don't believe Tesla will solve FSD and succeed with Optimus you really should not be invested in the company for this new book. I've never been one to read into daily market movements but if there were ever a sign that the markets are replying to Elon's moonshot comments with prove it today is that day. At the time of recording Tesla stock is down around 3% after Elon saying Tesla could be worth 30 trillion dollars. It's really just a matter of talk is cheap at this point and until Tesla's earnings per share numbers start climbing back up the stock is likely to be stalled out. Vehicle sales growth is flat year over year and so there are things the market needs to see improved upon before giving Tesla any credit. For now though we should absolutely be celebrating this vote being over and this chapter mostly being behind us. Honestly it's been an arduous season for Tesla fans dealing with all of that and the slowdown and growth and the lower EPS numbers but now hopefully all of the noise from the voting in that chapter is mostly closed.

当特斯拉实现完全无人驾驶时，他们会使用远程操控来处理车辆被困的情况。听说特朗普会突然打电话给马斯克，让人觉得挺有趣的。我相信，特朗普阵营这样做是为了建立关系，并希望能得到马斯克的支持，但至少双方关系友好，还能通话。特斯拉将在第三季度重审推荐计划，但这间接导致了汽车价格的上涨，而我们都知道特斯拉对可负担性的态度。特斯拉能源今年在固定储能部署上以200%到300%的速度悄然增长。马斯克提到了一个未来版本的Megapack，它可以直接插入高压电线上，不需要变电站，这虽然听起来需要几年时间，但一旦实现，将进一步领先市场，一个即插即用的Megapack会让电力公司感到惊异。不过，这些年度会议主要是为了进行一些内部事务的整理，庆祝公司的历程，并描绘未来发展的蓝图。马斯克一直是一个有远见的人。他一直是，也将永远是。在会议上我们并没有获悉大量新的信息，但正如马斯克所希望的，你如果不相信特斯拉能解决完全自动驾驶（FSD）并成功打造Optimus机器人，就不应该投资这家公司。虽然我并不关注每日的市场波动，但是今天市场对马斯克的"登月"评论作出的回应，可以说是要马斯克拿出实际证明。截至录制时，特斯拉股票在马斯克表示特斯拉可能价值30万亿美元后下跌了约3%。这表明仅仅空谈是不够的，除非特斯拉的每股收益开始回升，否则股票可能会停滞不前。车辆销售年同比持平，因此市场需要看到有所改善，才会给予特斯拉认可。不过，现在我们应该庆祝投票结束，这一章基本告一段落。老实说，作为特斯拉的粉丝，这段时间应对所有这些问题，增长放缓和每股收益下降是相当艰难的，但现在投票的噪音基本结束，希望这一章节可以画上句号。

It's now time for Tesla to refocus and execute and hopefully come with some exciting granular plans for what's coming at the event on August 8th. So go enjoy your weekends and don't forget to check out Babbel if you're looking to get smarter while you test FSD. The link will be below and as always thanks for supporting the channel in that way.

现在是时候让特斯拉重新聚焦并执行计划，希望能在8月8日的活动上带来一些令人激动的详细计划。所以，去享受你们的周末吧，如果你在测试全自动驾驶(FSD)时想变得更聪明，别忘了看看Babbel。 链接会在下方，感谢大家一如既往地支持我们的频道。

And when it comes to Tesla I think this meeting and the results tell a much bigger story of the shareholders speaking in being heard of realizing the loud minority is indeed just that the minority of an activist judge realizing she was definitely in the wrong and a shareholders did actually know what we were agreeing to back in 2018.

关于特斯拉，我认为这次会议和结果传达了一个更大的故事：股东们表达了自己的声音并且被听到了。那些声音大但人数少的激进分子确实只是少数，而那位激进的法官也意识到她的判断是错误的。实际上，我们这些股东在2018年确实清楚自己同意了什么。

So while the tone of this video may have been a reality check for Tesla that does not mean this new book isn't going to be the most exciting one yet because the truth is I'm pretty confident it will be. With a new home for Tesla in Texas, a grateful, motivated and focused Elon and a reorganized lean employee base paired with a clear vision of how Tesla could become the world's biggest company by far.

因此，尽管这段视频的语气可能对特斯拉来说有些现实震撼，但这并不意味着这本新书不会是迄今为止最令人兴奋的一本。事实上，我非常有信心它会是最好的。特斯拉在德州有了新总部，埃隆·马斯克感恩、积极、专注，同时公司员工精简重组，再加上对特斯拉成为全球最大公司的清晰愿景。

Reading this new Tesla book as it's written is going to be something special that I think will go down in history. As I always say we're going to need patience and it's going to come with plenty of uncertainty and there's a ton of work to do but the saying carries even more weight now do not mess with Tesla. you.

阅读这本新出的特斯拉书将会是一次特别的体验，我认为它会被载入史册。正如我常说的，我们需要耐心，因为会有很多不确定性，还有大量的工作要做。但现在，这句话更有分量了——千万不要小看特斯拉。