i think it's fun so i'm so glad elon musk exists.ntasy world, i would love to believe that. >> not just belief, but he's actually built a company that stands for those things and a brand, in and of himself that gets people to pay attention to those things that is real value, right? >> he said they're going to sell 20 million vehicles per year by 2030, which means they would need to built simply to hit those numbers build 36 new giga plants over the next eight or nine years there's no indication that they managed to do that in the past, right. so, even if he wildly, wildl exceeds the expectations of most people, he's still falling short for what he says he wants to do. maybe we should applaud him for being audacious. i do but at the same time looking at the stock price right now. no way to say that that stock price makes any sense unless every single thing goes exactly right. i'm not saying tesla is going to disappear. i am saying that we should take everything he says with a grain of salt and the best authority on this is elon musk h

eric got to know musk and spacex as part of his research for a new book called "elon musk and the desperate early days that launched spacex." eric is a reporter from ars technica. i was in caramel -- carmel and saw your book. what do you make of this techno king. >> musk is nothing if not a character, i think. he was probably having a lark. since he's filed paperwork, he's serious. he's interested in getting credit for being the chief engineer of the company. his title is not the founder of spacex, it's chief engineer of spacex. the guy did not study rocket science in college. he came into rockets not knowing a lot of rocket scientists. >> you're right. he had a physics degree and decided when he was going to get into rockets that he would read a lot of textbooks and everything he could basically find and, you know, over the years has had plenty of hard won knowledge working through issues. >> i think one of the most asto heavy or the private astronauts going to the iss was the first time he sent a dragon cargo capsule up to iss. a lot of kids light up rockets for fun. here's a guy who says

i think that musk is consolidating his empire in texas. spacex has a huge base of operations in boca chica, the new factory will be the crown jewel. it makes sense he would try to consolidate and be in the center of the country, easier in terms of trouble. caroline: thank you for breaking down that move. during the shareholder meeting musk acknowledged what mike rubin was talking about. he believes it might abate but it might go on when it comes to the chip shortage, too. he admitted they are adjustably challenged. karen nelson joins us to discuss. let's talk about trips before we talk more about texas. i'm interested in -- before we thought tesla was sailing through the chip crisis, let alone the supply chain. >> thanks for having me. what you saw last night was elon musk darling back expectations to give themselves more with the ongoing uncertainty regarding the chips. supply chain constraints are very real. but this is not new. tesla has done any credible job navigating headwinds over the last few months and in recent quarters. intel ca

musk said those jobs will stay and operations will expand by 50%. musk pointed to a number of different issues, including high costs of houses, taxes and traffic as reasons. so far there's no timeline. >>> the tubs fire would end up burning through parts of santa rosa. in sonoma alone, 5,300 homes were destroyed. there will be a memorial event including a bell-ringing ceremony. will never forget that morning here on "today in the bay." >> never forget that. >>> a busy weekend for a lot of people, kari. >> yeah, hopefully you will be able to get out and enjoy it. we will get a boost in the temperatures once we get more sunshine tomorrow in the valley temperatures, upper 70s. next week we are watching out for a high fire danger on monday. for san francisco, temperatures in the low 60s. always an issue of how low the clouds will be, if we get fog over the golden gate bridge, and it looks like the fog will stay away but it will be windy, and we are looking at temperatures in the mid-60s throughout the weekend. of course, keep checking in for updates on

elon musk's personal wealth surges. bloomberg. ♪ dani: welcome back to "bloomberg: daybreak europe." i'm dani burger in london. 6:45 a.m more people are using the facebook app than analysts protected. there were reports that the company is losing young users and struggling to prevent misinformation and hate speech. a picture that zuckerberg described. >> using leaked documents to paint a false picture of our company. dani: ivan, a very defensive mark zuckerberg there. we saw after the facebook papers were released, facebook dipped a little bit but were still able to end higher post earnings. why are they so resilient? >> a central player in the digital economy. they reported 2.8 billion active users, more than expected. even with all of the revelations coming out, users still flock to them. dani: what is their role? what are they trying to do to change the narrative? >> zuckerberg is saying there is a coordinated effort out to get us. we'll put our efforts elsewhere, hyping up a digital virtual world. they are taught th

elon musk announcing tesla is moving its headquarters to the lone star state. >>> and the global natural gas shortage sending prices skyrocketing our conversation with the ceo of one of the u.s.'s largest natural gas producers. >>> the end of an era for a celebrity chef bobby flay chopping ties with the food network >>> it's the top of the hour, you're watching "worldwide exchange" here on cnbc >>> good morning, happy friday i am dominic chu in for brian sullivan today here is how the markets are setting their friday up. stock futures are stable dow implied higher about 22 points, s&p down about 7 and nasdaq 40. all three major indexes were able to tack on gains of roughly 1% yesterday after the senate struck a deal to race the debt ceiling more on that in a moment we want to check on treasuries as the ten year pushes closer to the 1.6% mark. just on that number, 1.600 two year just a hair about 32 bases points we have that big release of the key monthly jobs report out at 8:30 a.m. eastern time and that interest rate complex showing a little bit of signs in terms of prices lower, yields

elon musk saying the tesla will move its headquarters to austin, texas.hopes the chip shortage will alleviate soon. that the company is open to licensing driverless car technology. he was also talking about their shanghai plant outpacing the winning california. again elon musk sang tesla removing their headquarters to austin, texas. we have seen a lot of conflict between elon musk, the company, and policymakers in california. he has announced that he is moving to texas. talk us through what happens with the semi conductor side of things and how that could affect carmakers like tesla. it doesn't look like a shortage will ease anytime soon. >> you are right. it could take a few quarters for the shortages to be resolved. i am encouraged by what we are seeing around the delta variant around the world. as the covid cases have peaked and are subsiding around the world, that means the factories can reopen. truck drivers can go back to work again. that should start to alleviate the bottlenecks. if you look at the chip sector specifically, we are shipping well bel

. >> elon musk shutting down parts of tesla operations here in the bay area, but what about his plans the fremont plant? >>> the level of need is probably the most drastic. >> this is a project that provides hope for tomorrow. >>> turning the valve on drought relief for the north bay. >>> new details on the cargo ship being investigated in connection with a massive oil spill. what the ship was just allowed to do at the port of oakland. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom for me and you ♪ (music) ♪ so i think to myself ♪ ♪ oh what a wonderful world ♪ >>> developing now, elon musk announcing he is moving tesla corporate headquarters out of the bay area. currently, tesla has corporate offices on deer creek road in palo alto, but musk is taking his staff to austin, texas. that is where the company is building a new manufacturing plant. musk citing the cost of living here in the bay area. >> it is tough for people to afford houses, and a lot of people have to come in from far away. we are taking it as far as possibleere isa limit to how big you can scale it in the

if elon musk were paying at the same rate as the rest of americans on their wealth, then elon musk and his kind could be funding a huge part of what we need in america. universal child care. universal pre-k. home and community-based care. expanded health care and investments in housing, and a big, big flak in fighting back against climate change. the folks at the top, they've been free load for long enough. >> well, let's relive the moment to which i referred a couple seconds of it. then i'll have a follow-up question. roll it. >> sure. >> there is nobody in this country who got rich on his own. nobody. you built a factory out there, good for you but i want to be clear, you moved your goods to market on the roads the rest of us paid for. you hired workers, the rest of us paid to educate. you were safe in your factories, because of the police forces and fire forces that the rest of us paid for. you didn't have to worry that marauding bands would come and seize someone in your factory and hire someone to protect against this because of the rest of us did. >> you look like you're winging

i believe musk is now worth $300 billion.g 5g to f-150 lightning production. look at that, ford has reached $16 a share. there is this, only 47% of the population of arkansas has been fully vaccinated. the state's governor is asa hutchinson is the state's governor. he joins us now. governor, why won't you impose a mandate on state workers? >> first of all our goal is to increase vaccination rates. we believe the best way to do that is through education and experience. when i say experience, it is about seeing our neighbors who have not been vaccinated that go to the hospital, have serious illness because of covid. right now among our state employees without any mandate we're at 67% vaccination rate and that is as high as california where they have a vaccine mandate among their state employees that they're not doing a good job of implementing and so we think we have the right approach. the key on mandates is, government doesn't need to be in the business of mandating right now under this current environment. employers should h

reporter: elon musk making the announcement from texas on thursday. the news was met with cheers and applause but back home, business leaders did not mince words. >> there is no way to candy coat it. reporter: ahmad thomas says nothing compares to the end of a and infrastructure in california but elon musk points to cost. >> it is tough for people to afford houses. they have to come in from far away. there is a limit to limit to lio can scale it in the bay area. reporter: elon musk says the company is not moving out of the fremont factory and he plans to increase output by 50% but it is the headquarters on deer creek road relocating to austin. >> this is the cradle of innovation. this is ground zero for new technology. reporter: tech expert and san jose professor says the move will make room for more opportunity. >> there is still so much growth in the silicon valley. reporter: the mayor of palo alto says he is not surprised is changing its address. adding tesla will keep its engineers and innovation center in palo alto. >> a path to lifting the bay a

musk responded to the news in a really classy way.o bezos yesterday, a second place medal. joining us is chief investment officer at wheelhouse and christine roman, cnn chief business correspondent. really great look for rich people to be involved in a match like this. what's going on here? >> bickering billionaires, and we have some of the worst in quality the united states has ever seen. not a great look. these guys have to be careful. there will be a backlash if they don't start reorienting their wealth and capabilities into something more worthwhile. >> what is musk doing? this isn't the first time he's gone after bezos. >> i doubt it'll be the last. one of the things musk has proven himself at being adept at is getting public attention, stoking fires, and ultimately turning it toward his business at the end of the day. he is a master pr guy. >> he is punching up, not down. i think he is envious. looks like he has bezos envy. >> i think most people have bezos envy. they've got $440 billion of wealth between the two of them. >> it

reporter: elon musk making the announcement from texas on thursday. the news was met with cheers and applause but back home, business leaders did not mince words. >> there is no way to candy coat it. reporter: ahmad thomas says nothing compares to the end of a and infrastructure in california but elon musk points to cost. >> it is tough for people to afford houses. they have to come in from far away. there is a limit to limit to lio can scale it in the bay area. reporter: elon musk says the company is not moving out of the fremont factory and he plans to increase output by 50% but it is the headquarters on deer creek road relocating to austin. >> this is the cradle of innovation. this is ground zero for new technology. reporter: tech expert and san jose professor says the move will make room for more opportunity. >> there is still so much growth in the silicon valley. reporter: the mayor of palo alto says he is not surprised is changing its address. adding tesla will keep its engineers and innovation center in palo alto. >> a path to lifting the bay a

, elon musk is at number two. number one, elon musk is at numbertwo.m september three, and tech stocks have fallen a bit since then. these people are still the richest in the country, so stock prices change every day and as a result the network will change. one of the interesting things though as you mention the cryptocurrency billionaires. we had one cryptocurrency billionaire one year ago, and we have seven now. that is a result of the increase in value of a bunch of the cryptocurrency is, and the new cryptocurrency is, and the new crypto currency exchange coinbase. when it comes to big attack on some of these players who are dominating this list — amazon, facebook, google. —— does not bring attention do how big and fast these companies are not just in the us but globally, and whether their wings should be clipped? indeed, the interesting thing as well as the pandemic — more people turned to places like face book, instagram, whatsapp, that they communicated with people they couldn't see in person so was helpful but then the dark side, which has been

if it breaks out of $800 there could be a decent run up and that will increase elon musk's net worthit could break out enough end-of-the-year he will be worth $300 billion, that would be insane. lauren: all the eggs are not in the tesla basket he has spacex. >> that's on spacex but on the back of this. jeff bezos gave his ex-wife 35 billion, not million, billion, that is pretty amazing not saying she doesn't deserve it, she does but could you imagine being handed 35 billion like it's $35. lauren: that's what it's like for them that's why they give so much away. what you make of elon musk quitting fremont for their headquarters they still make cars but moving them to austin governor abbott has tried to say it is because of our social policies and elon musk is try not to go there but do you think he is really there? >> i listened to joe rogan the comic and he does a great podcast i listen to them every day when i workout at the best way to get through a 6-mile run in my view, he and elon are friends there is a reason joe rogan moved to austin and i believe the same and is very close wi

musk recently moved to texas. >> all right. historically tahoe casino is changing hands.for guests. the owner and orange county developer has plans for the property in the village and including more development on the 15 acre site. >> san francisco's mark is all over the new restaurant list from "the new york times." it's a coveted list. it is called the list places they are most excited about. here you go. the in san francisco, the china town restaurant mr. jiue's and nari and the anchovy bar are included in "the new york times" list. they also discovered the marshal store located in marshal. >> up next, not a trick but certainly not a treat. we're going to show you dozens of snakes found under the bay area home and the man who went in to get them. and there you have it- woah. wireless on the most reliable network nationwide. wow. -big deal! ...we get unlimited for just 30 bucks. sweet, i get that too and mine has 5g included. that's cool, but ours save us serious clam-aroonies. relax people, my wireless is crushing it. that's because you all have xfinity mobile with you

elon musk announcing tesla i

beach and the guaranteed annual income while larry page and google fly off to nearby planets with elon musk. it may beat with branson aboard now. this allusion that somehow the human mind is a computer and can be excelled and usurped by computers that has captivated many figures in silicon valley as a new religion. it is nonsense i show in gaming ai which is not a great title for a critique of artificial intelligence, but artificial intelligence began by playing in games and then it moves on to be all of the great figures and we see the world champion was defeated by an ai device. it is from these successes of the masters of silicon valley have imagined they can create general purpose brained themselves. this is a great solution and results in bad strategy and what you want to do is enhance human minds not try to usurp your customers and creatively. >> you right in gaming ai that at stake is a new demotion of the human race, what does that mean? >> the human brain, one human brain is as complex in its conductivity as the entire global internet. each take ten to the 21st 21 zeros to capture

you go to someone like elon musk , say elon, here is what we'll do. first of all the reason people have all this wealth now is because we've had an irresponsible fed that's just gone completely insane and pump ed up the m-2, for $2 trillion, all assets have gone haywire and very valuable so now we have this terrible inflation, fed finally comes to the sense and raises rates, so at the end of the year you go to elon musk and say okay, elon you owe 30 billion in your gain on tesla. now, what happens the fed raises rates, the next year tesla shares start to drop 50% and now elon has to go sell $30 billion worth of shares in a dropping market to pay his tax, which will cause tremendous, not just for elon musk, but for people who are in these index funds. when you get founders like zuckerberg out selling hundreds of billions of dollars worth of stock, all at once, i mean, it's just not a realistic well thought out idea. liz: well, there is income re distribution and some people believe its been from the middle class to the wealthy. others believe it's from

ceo elon musk making the announcement late today. this is during the company shareholders meeting in austin. part of the reason for the move? the high cost of living in the bay area. musk says it is tough for people to afford the housing here and that limits how much the company can do here. he added this doesn't mean tesla is leaving california all together. >> just to be clear we will be continuing to expand our activities in california. so this is not a matter of tesla leaving california. our intention is to actually increase output from fremont and nevada by 50%. >> so tesla staying in fremont for the production facility but leaving hq in palo alto. the city responding tonight with this city from the city manager, quote, palo alto is disappointed by the news of tesla moving its headquarters to texas. this change reflects the innovative cycle and nature of the silicon valley where we are seeing highly mobile companies in our region evolve. joining us now our business and tech reporter scott budman. this isn't surprising. elon musk

he pushed back on tesla, saying he admires elon musk and has known him for years.but tesla tesla is not leaving california really. they still have 35,000 employees in fremont, and in the state. it is bulking up, not cutting back. it is not leaving the palo alto headquarters, it is growing and just opened another facility out in the central valley, this year. the fact is, a lot of this is pr by elon musk. >> this is ipo surplus, tech companies succeeding their through income tax, this is the success story of a progressive tax system that help when it has come something democrats me copy on a nationwide level, but it is really the story of a california tax system delivering a huge surplus. this new a lot of money has been thrown around in state employment development agencies. that has been plagued with all kinds of problems, particularly through covid. there's a concern that up to $31 billion has been scammed from that agency. some reform work took place on that, this week. >> i will put this under too little, too late. some of the ideas, making sure that edd recipi

musk and california don't seem to be a good fit. remember at the back of the pandemic, he doesn't want to shut down the fremont factory. and elon musk threatens to move plant out of california. data from alameda county would show quite a number of those employees came down with covid. a number of employees at tesla say they were fired for staying home during the pandemic even though tesla told them they could. again, it's not clear how many jobs will leave palo alto. this is something he has threatened before, and the fremont operation will get bigger, not smaller. >> we will be continuing to expand our activities in california, and it's not that tesla is leaving california, and our intention is to increase output for fremont. >> we will stay on top of this, marcus and laura, and we are looking at the financial filings and have not seen anything yet. >> we have seen a number of companies leave the bay area for texas. >> yeah, oracle, certainly the biggest one. but hewlett-packard and charles schwaab, those are the biggest. >> anothe

elon musk said it won't go into production until later next year the goal for tesla, according to musks overall. that's a challenge right now in this environment >> our goal is to make the cars as affordable as possible him we are seeing significant course pressure in our supply chain and so we've had to increase vehicle prices at least temporarily. but we do hope to actually reduce the praises over time and make them more affordable. >> as that gigafactory comes online, there will be one outside of berlin, germany, those two should ramp up their ability to deliver well over a million vehicles over the next couple years last year, a half million vehicles so far this year, they've delivered 6,227 vehicles most believe they'll get close to 850 to 875,000 vehicles this year elon musk said, look, we're growing at about a 50% clip. that will continue as long as the chip supply improves in the future he is cautiously optimistic that will happen. one other note about this move to texas one thing elon musk stressed is the company is not completely abandoned in ka they have a plant in in fremon

i'd like to say there is always a bull market somewher >>> whoa, elon musk just made a huge move. wait till you hear where tesla is going i'm shepard smith. this is the news on cnbc >>> vaccines for kids. pfizer seeks approval for younger children, but when could we start seeing shots going into little arms. >>> 18 former nba players indicted in a massive health care fraud scheme. >> in total, defendants have attempted to bill the insurance plan close to $4 million. >> the details, the charges, and how officials saythe athletes got caught >>> the search for brian laundrie his family's lawyer has a new statement on his whereabouts, as brian's father joins the manhunt. >>> walker hayes on his hit song, his brand new remix with kesha. what it's done for applebee's sales and the viral explosion that almost never happened. >> it was my daughter's idea. >>> a new cyber gang on the rise fixing our global supply chain and the big business of launching low-cost satellites in space. >> announcer: live from cnbc, the facts, the truth, the news with shepard smith >>> shots for kids here we go

would you side with elon musk here? >> yes, i do see side with elon musk here. the problem with this, right? confiscatory move. it is one idea to say okay, on principle we'll go affair share. where does it start? where does it stop? what many americans don't realize who are anxiously jumping on bandwagon, global threshhold of 1%, talking about as low as $24,000 a year with the global population. play the game, play it worldwide. otherwise sit and think how this is going to impact the very people it is going to hurt most. lauren: jason chaffetz on stuart varney's show earlier, we played that same joe manchin sound bite and jason said i think manchin put a qualifier in that sound bite and that was earned income. so taxing wages, for instance. it wasn't unearned income, dividends, real estate, pensions. we don't know how broad this tax is going to be. we'll find out tonight, keith, the senate finance chair, senator ron wyden, he says they will get details tonight. they will release what the corporate minimum tax rate is and what exactly is in this proposal for taxi

jim mentions elon musk, he did make comments about inflation.athie wood in a debate over that issue watching tesla's evaluation over the $1 trillion mark we'll be back in a moment. [coins clinking in jar] ♪ you can get it if you really want it, by jimmy cliff ♪ [suitcase closing] [gusts of wind] [ding] ever wonder how san francisco became the greenest big city in america? [gusts of wind] just ask the employee owners of recology. we built the recycling system from the ground up, helping san francisco become the first city in the country to have a universal recycling and composting program for residents and businesses. but it all starts with you. let's keep making a differene together. >>> watching a bunch of big industrial and transportation names. u.p.s. is a beat revenue ahead up 9.2 they raised their margin to 13 from 12.7 and their capex guide. if they help the transports get a record, that would confirm the industrial records and you would have some people say this is for real. >> i think that you're exactly right. i think the transports are

as you said, elon musk doesn't need to purchase anything or pay sales tax.buy anything. >> joy, this is interesting. what happens is if you have a huge amount of money like elon musk, you don't use your money to buy stuff. you basically borrow against your fortune and that really, that borrowing handles all of your expenses. i mean, this is why using a very narrow gauge income tax, i mean, last year jeff bezos, how much did he earn? $81,000. $81,000. >> on his w-2, yeah. there's a reason the only time donald trump ever paid taxes was when he worked for the same company that i worked for, he worked for nbc and had a w-2. that's the only time he paid taxes. >> worked for nbc, right? >> what did you say? >> i said the -- [ laughter ] >> obviously, is if you were donald trump or you're elon musk or you're jeff bezos, basically, don't register that you have any income at all and by the way, this is the same thing big corporations are doing because -- >> absolutely. >> amazon last two years, amazon has basically said to its shareholders it's got $45 billion a year

elon musk is the world's preeminent business executive.. musk founded and runs tesla, the world's leading electric vehicle maker. tesla is worth eight times general motors, 13 times more than forward. space x is the leading private space industry. ahead of jeff bezos's blue origin and richard branson's virgin galactic. they do space tourism, musk lost thousands of satellites and plans to colonize mars. the boring comedy is a musk creation, a vastly expanded loop in las vegas, trying to revolutionize urban transportation. neural link working on linking machines to your brain. imagine what that could do for prosthetics. is a popular personality not just because he's rich but because he is the brash successful man of the future, colorful, entertaining. what a contrast with mark zuckerberg. senators warren and sanders, socialists don't like anyone with more money than them. a few years ago i characterized him as a showman a bit like the character harold hill in the music man, the movie. i got side of his minute relation of cryptos with his wei

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elon musk has been frustrated with california's rules and regulations.e's moving tesla from palo alto to austin. what happens to the fremont facility? here's nbc bay area's ian cull. >> reporter: tesla pulling its headquarters out of palo alto and rolling to austin, texas. ceo elon musk making the announcement from the austin assembly plant today. >> it is limited to how big you can scale it in the bay area. >> reporter: musk citing bay area issues. it's tough for employees to afford houses and many have to come from far away. the fremont factory, however, will stay. >> just to be clear, though, we will be continuing to expand our activities in california. this is not a matter of sort of tesla leaving california. as i said, our intention is to actually increase output from fremont and taking that up to 50%. >> reporter: they are moving where there is no income tax. musk has already moved from l.a. to austin. business leaders say it should ring alarm bells. the bay area and state needs to solve the issue of housing and affordability. >> we've heard it fro

up next, people fed up with liberal cities are fleeing billionaire elon musk. latest ahead. ♪ ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each with a time and a place they've been promised to be. a promise is everything to old dominion, because it means everything to you. >> tech: when you get a chip in your windshield... trust safelite. this couple was headed to the farmers market... when they got a chip. they drove to safelite for a same-day repair. and with their insurance, it was no cost to them. >> woman: really? >> tech: that's service the way you need it. >> singers: ♪ safelite repair, safelite replace. ♪ (man) i've made progress with my mental health. so when i started having unintentional body movements called tardive dyskinesia... ... i ignored them. but when the movements in my hands and feet started throwing me off at work... i finally had to say, 'it's not ok.' it was time to talk to my doctor about austedo. she said that austedo helps reduce td movements in adults... ...while i contin

musk and i have never met and this is not mr. musk and it's certainly not about me.b at the ntsb, and our job is to determine what happened, why it happen and prevent a crash from happening again. we conduct a thorough investigation and at the end of that investigation we issue findings of probable cause and safety recommendations and then we work extensively with the recipients of those recommendations to ensure they're implemented, because it's not until their implemented safety is truly improved in this case, we haven't received in response from tesla in four years, yet we've reiterated those recommendations numerous times. >> let's be clear. tess le does tell owners of its vehicle whether using autopilot or full self-driving beta, look, you have to be vigilant and pay attention when you are behind the kwwheel. a tweet from elon musk a few weeks ago saying fsb beta system at times can seem so good that vigilance isn't necessary, but it is. also any beta user who isn't super vigilant will be booted. are they not doing enough? i mean, he's telling people, you are ne

outside of austin, and there are three things people will be focused on hearing from elon musk today will first of all, are the new gigafactorys ready not just one in austin, but the one in berlin. what's the outlook for the supply chain elon musk talked about it early in the third quarter that they had real challenges there and perhaps they'll tell us about what they're doing, and the fsd rollout, musk tweeting about it this morning saying fsd beta 10.2 rolls out friday at midnight to approximately 1,000 owners with perfect 100 out of 100 safety scores. rollouts will hold for several days after that to see how it goes and if that looks good, beta will gradually begin rolling out to 99 scores and below. as you take i look at shares of tesla, it's been a nice move over the last three to four months since the stock has moved higher at one point getting briefly over $8 00 a share earlier this week or late last week this meeting starts late this afternoon and it will be interesting to see if this is an elon musk that tells us a lot or if it's a mundane shareholder meeting. we've seen bot

musk network is more than three to billion.are making massive investments specifically in batteries barron's cover story and senior writer out good to have you on the show. >> hi. >> al, why did they choose tesla other than the obvious the really cool cars. >> that is a good question. i think they are pretty cool cars for the answer is really scale, right? in america tesla has a plan that will turn out 500,000 cars a year. ford and gm on a combined basis in america will probably not hit 100,000 sold. in america lowered its five member. >> nobody else could have sold hurts what her thousand cars. just because tesla dominates it now does not mean they always will. one of the things that so crucial to the future is batteries. i might see more about in the future. >> so, i think among legacy automakers that is a good way to put it, battling for their share of the pie i would say ford, gm, volkswagen has been the most aggressive in pursuing electrification goals. those three and then others for some contacts have basically committed

musk made the announcement this afternoon at the shareholder meeting. right now it's in palo alto. >> we are moving our headquarters to austin, texas. just to be clear, we will be continuing to expand our activities in california. this is not a matter of sort of tesla leaving california. our intention is to actually increase output from fremont by 50%. >> musk said part of the reason for the move is the cost of living in the bay area. it's tough to afford houses and that limits how much the company can do there. not the first company to relocate to texas. hp announced it was moving from san jose to houston. oracle announced it was relocating headquarters to austin. covering this is our business and tech reporter scott budman. you have been covering musk for a long time. are you surprised by this? he all but said they were moving the headquarters to austin last may when he was upset and filed the lawsuit when they closed down the factory for a couple of days over covid. >> right. he has been very upset with california, very upset specifically with the ba

. >> plus, cause it tex-la, elon musk announcing they will move the headquarters >>> and amctalking theaysayers. the jobs number is a function of the labor force participate rate dipping once again. >> i don't think this is all that material. i know initially people were saying it was a shocker. there is, in the industry of travel and leisure, leisure and hospitality, that's customer facing, and that means, well, covid. people are worried delta covid. if you're a teacher, by the way, did you want to go and teach the baby boomer retirement is extraordinary. a lot of what we see almost instantly just didn't pan out. >> you know, there is -- it's hard to fully grasp. we know we have labor shortages. we talk about it all the time, and then we have a lot of people more still unemployed, but somehow we seem to be you unable to get from here to there rapidly. the participation rate fell from august there were expectations it would actually go up, and 25 to 54 participation rate also falling now from -- that's a four-month low. >> the prime age of the labor force rate, biggest drop since novemb

kumasi: tesla moving headquarters out of california, elon musk claiming reasons in his announcement.gie: you can now send your date something before you meet for the first time. new feature on tinder. but first, let's get a check on the weather. mike: on this friday we are starting off pretty quiet. we did have a few drops in our inland east bay neighborhoods and there is still a chance in the next hour or so. for the most part, it is pretty dry, with temperatures around 53 to 55 degrees. a little cooler toward lafayette. coolest in santa rosa. we will keep an eye on that because you can see some fog is starting to form. we have 47 endless condos. veryveryveryveryveryveryveryvery e cloud cover. we have been waiting, mother nature is like, i'm giving you everything. i'm giving you a gorgeous weekend for fleet weekend. a little cool. a little greasy. at 3:00, it is going to be sunny. we see increasing clouds later on. saturday and sunday, it will be pristine conditions with light breezes and mid to upper 60's. for the game tonight, almost the same, 58 to 56. typical fall classic weathe

> he's beating musk musk, to him, is darth vader >> he has a long way to go he has got $800 billion toiously that cap will not be made up that quickly farley is a unique man i have never e-mailed him and not gotten a response. i e-mailed him, and got a response five minutes later. i don't have that close of a relationship with elon musk. >>> netflix as well is up -- >> that's what i said would half. >> after a bit of a fall. >> that was people who just -- >> you've been talking about t.a.n. >> 11 t.p. these are companies that rich people wrote off they used to come on air, trash, and send us e-mails saying we don't know what you're talking about. they have now taken over the world. i look tore more optimistic against the rich people's negativity here is one that's been very controversial, not that i'm not used to controversy, but severe airlines posting a smaller third quarter loss, widespread bo boosts -- so joining us now is the man who is really implaquable. i'm talking about the chairman and ceo gary kelly gary, you shy away from nothing, and you have come on a day when the stock i

what you can expect whennie leln musk takes the stage one of our traders getting nervous heading into next week he or she will tell us why the s&p, dow and nasdaq notching their highest closes of the month. 10 of 11 sectors were up today led by consumer stocks the ten-year treasury yield at its highest level since mid june how do you make sense of this market action, guy >> will you indulge me for just a minute, mel? >> all right >> try to have enthusiasm. dan's denim is fitting today because when i was a wee lad in the '90s, they said we need to go to this establishment the peculiar pub so with yields trading at what they were today. if you told me ten years 158 where is the s&p, i would have said we were well short. here we are rallying makes no sense to me maybe it's charlie munger's comments yields going higher is a warning sign the market didn't choose to heed it today >> it would have been a surprise if yesterday was where the scenario was today >> there were many tech leaders or past leaders who were underperforming. i think there is a potential for it to drag other names we ta