welcome delmore with the latest. to the tesla shareholder welcome to the tesla shareholder meeting.just want to start off by saying, hot damn, i love you guys. this shareholder— hot damn, i love you guys. this shareholder vote _ hot damn, i love you guys. this shareholder vote put _ hot damn, i love you guys. this shareholder vote put elon musk one step closer to becoming the most generally sleep compensated chief executive in us corporate history. the pay package would award him rights to roughly 10% stake in tesla valued at around 300 times with the top earning executive meet in the us last year. ajudge flocked to the original pay deal injanuary. it is unclear whether this fresh shareholder authorisation will be accepted by courts. the vote was seen as a test of his leadership of the company. those in favour said he deserved the ii figure sum for taking the company to new heights as ceo. those against voiced concerns that his attention is elsewhere. tesla is one of six firms run or owned by mr musk. the vote comes among a turbulent year for tesla whose shares are down nearly 30% t

at tesla.s been reconsidering, flies in, flies out. it's just not running the company compared to 2018 when he was sleeping there and working 20 to build this wonderful company. i benefited greatly from the success of tesla but i also took enormous risk investing with elon over the last 10 years and many thought the company would go bankrupt five years ago. i supported and through all this. so the fact that benefited greatly as a shareholder was a byproduct. the risk i was willing to take on elon and that paid off was great but it doesn't change where we are today and that's the issue is what's can happen to tesla in the next five years. cathy seems optimistic but if you -- if he leaves the company because he doesn't get what he wants, where will it be in five years. the fact he has $100 billion of net worth in tesla, yet that is not incentive enough to work at tesla, he made over $90 billion just in gains from the stock he owned already. so it's not like he hasn't benefited greatly from tesla

tesla are on the role, nine months. tesla are on the role. even _ nine months. months. tesla are on the role, even that split _ nine months. tesla are on the role, even that split chess - nine months. tesla are on the role, even that split chess is l role, even that split chess is allowing smaller investors to join in at the moment. give us a scenario where it is less of a scenario where it is less of a bull run and more of a bear run? what happens to go wrong here? ., ., ~ here? the china market continues _ here? the china market continues to _ here? the china market continues to be - here? the china market continues to be a - here? the china market l continues to be a massive here? the china market - continues to be a massive had been, competition is increasing across the board. in my opinion, i think this right now is the beginning stages of the bull run. mi is the beginning stages of the bull run. �* ., ~ is the beginning stages of the bull run. �* ., ,, ,, bull run. all right. thank you very much- _ let's stay with the us, because the rally on wall street r

to me, elon is actually -- and the tesla buzz and the tesla intangibles that always allowed people toow whatever target they wanted on this stock, i think that's now in kquestion, where as tesla, the car company is actually kind of interesting and getting kind of interesting, based upon the fall it's had and still the leadership position it has in ev. >> i think that's a great point in that we are approaching a much more political time of year, as we approach the election, and who knows how political he can be and also the role that x -- >> very. >> x may play in this election and will that ultimately be a negative for tesla shareholders? >> in the form of people potentially not buying the cars because -- >> not buying the kashgcar, beio conservative -- >> fair enough. i'm sure that will be out there. i'm not sure that's going to be a factor, but fair enough. and the pay package stuff, one of the biggest shareholders, he said last week on "squawk box" that he was absolutely for the pay actage. i think kathy wood today said similar. he base case, i think i got this right, was $5 trilli

efforts outside of tesla.aybe he thinks he can recreate that value at another one of his companies. we'll see, you know. but, unfortunately, for him he still owns, regardless of his pay package, last time we checked 12% of the company. like i said without that fsd trajectory hitting earnings late in this decade it's just not the same kind of company. there's not the same earnings power from our perspective. what we said in our note it feels like mutually assured destruction. if he leaves 12% of tesla goes down quite a bit. not good for him and there is he leaves and shareholders don't approve the package it's not good for shareholders so we feel like we've kind of met here in the middle and mutually assured destruction and like in the cold war it's probably going to work. >> tim, last word? >> it's been a big game of chicken, his point there. i mean, if tesla shares collapse, then a big portion of his wealth collapses and that gives him other problems. so in a lot of ways tesla needs him, but elon musk needs t

tesla wou tesla worth about $4 million, $5 million. if i had a chance i'd buy more. >> why not?ou're full up. >> i don't have infinite capital. when i have chances to buy, i recommend, bigger positions, buy in tesla, i buy. in spacex, in spacex we're going to double our money, i think, in the next three, four years, double again two, three years after that. in the 2030s make five times -- i make make 20 times in spacex over the next 15, 20 years. i'm 81. not many people are 81 thinking about 15, 20 years. i'm one of them. four, five, six times their money and can't put a top how much we'll make in tesla because so many businesses. robotics business is going to be unbelievable. robotics for him, i think that he's going to cost $5,000, $6,000 $7,000. charge money? ecosystem again. charged d every year for softwa using your robot that will keep getting better, better, better. think about a factory worker and all of a sudden have robots to do that. make all of these factory workers more and more productive? elon says gdp is number of people timed product produced. you won't need peo

liz: tesla grabbing attention and just like rival tesla and gravity assembled in the u.s.. go. liz: tell me about lucid air that convinced you to forge ahead in the gravity. >> new all american wonder car and most advanced technology in the world and home grown in america and built with love and pride and on the back of that venturing to the next product and gravity suv and seven seater and three row and another landmark product and that'll have 440 miles range. with the gravity refusing a disbursed attributes and have no right to live together and act and stature with the range. it's the interior space of escalate. liz: huge. >> it's only 2 inches longer than this car and this car is a bit shorter and moving for the tesla model s. it's more compact and practicality three rows and 6'7 in france and 6'6 in the second row, 6'4 in the third row. it's unprecedented. liz: who were they? >> we have the basketball team. >> in the high 6,000 and just under 7,000. and it's split between going for the volts and election portion of that and going for the dynamic car in the world and i

tesla rallies and falls.will not be jumping ship and doing ai elsewhere anytime soon. we also digest tesla moving to texas for corporate headquarters. the semiconductor company consolidating but then notably having to let go of about 1000 people, off by four percentage points. we want to talk about another key corporate company, still private, one that you might use as well. apple's latest watch announcements came earlier in the wake. here is another company in the space seeing real momentum. we want to bring in the ceo. you have strong numbers. how many people have been buying the rings and who are buying the rings? >> we are proud to announce we have reached 2.5 million sold. we hit that milestone a few days ago. the impact we are having on millions of people's lives is so inspiring for us. it is not just the high end. it is the ceo's and people just getting their first job. it is men and women, old and young. people training for marathons or managing a chronic illness. it is incredible seeing the movement

it's telling me that the tesla sees i'm not paying attention to the road. do you see how it's getting louder and soon it will be so loud that even if you're sleeping, you will not be able to stay asleep. >> you're suppose to keep your hands on the wheel, right? you're suppose to be ready to take over at a moment's notice. >> reporter: i asked if he was surprised if a tesla was on a train track. >> not at all. people have driven their cars into oceans. people have driven their cars off cliffs. with that in mind, that kind of thing is no more different than those cases. >> it is all going crazy trying to calculate everything, but made it. >> well the expert also says that tesla should have been able to recognize the gravel and that it was not on the road. and it would have stopped and disengaged before going down that far, which is why it was probably driver error. >>> the bay area air quality management district studied tesla more than 100 times for the release of chemicals all related to the pont shop. ordering them to clean up or face fines. >>> firefighte

tesla's shareholders

shareholders think he is tesla it also makes him pretty untouchable. he is the big cheese, they are okay with the big cheese, thank you very much, kelly o'grady reaction from the king view asset management partner wealth manager, first of all great to have you, how do you think this goes. >> at the end of the day there is not a company on gods green planet where the ceo is synonymous with the company in the company is synonymous with the ceo like tesla is to elon musk and more so what elon musk is to tesla, i agree pay the man that shareholder spoke and what type of incentive with any ceo have if you agree to a package and whether his political reason because i think some of this, i agree at the end of the day elon musk could have erratic behavior but is an absolutely brilliant man and at the forefront of every technology he literally brought single-handedly brought the ev market to the forefront with the tesla vehicles and at the end of the day i think anybody if they want to be honest with themselves and i agree with ron barron who is a longtime shar

tesla's board wants to give elon musk a pay deal worth $56 billion — the biggest in corporate historyearly indications are most shareholders are in favour. welcome to business today. i'm sally bundock. we start in the us where the cost of borrowing will be staying higher for a while longer. the us federal reserve left its key interest rate unchanged on wednesday at its highest in more than two—decades and signalled it only expects to make one cut this year. the fed though is predicting four more cuts in 2025. the decision came just hours after some encouraging news on its battle to control inflation. america's official consumer price index showed prices rising at an annual rate of 3.3% in may. that was down 0.1% on april's rate and was lower than expected. but it's still way above the fed's inflation target of 2%. erin delmore in new york has all the details. economic datasets can feel abundant, these are two big deal events. we've only seen them happen on the same day seven times in the last decade. to start, the consumer price index. that's the key inflation gauge that held good new

tesla up 3% this week.ve elon musk's record breaking pay package valid between $45 and $56 million. joining me now is katie stockton. >> good morning. >> why don't we start about the momentum trade big tech and apple is a part of that. when you look at the charts and technicals, do you see that having more room to you run or frothy and foamy, whatever word you want to use for it? >> i would say more room to run from an intermediate and learning perspective. we are breakouts in the nasdaq 500 and not to monitor the trend indications we have at the same time. specifically for the nasdaq 100. this is a pretty new development. we have some countertrend signals that are really across time frames to daily and weekly and month bar charts have these signals. it tells us the very steady up trend we were accustomed from october' low probably will not repeat itself, that we are in store for something dotted by more corrective phases and perhaps just a little bit more difficult to navigate and that would then also sugg

the vote is part of tesla's effort to essentially appeal that ruling. as we expect them to do based on belong musk's tweets, it looks like they are cruising to victory, based on the statement from tesla now, if he wins, doesn't mean anything in the short term. it means that tesla will have additional ammunition going into this appeal. this is a novel legal strategy but i'm not clear it will work. were talking about probably a lengthy dispute in court and probably more than one court especially with the potential move to texas that will be needed to resolve this. this will be going on for a long time. sonali: what did it take to get elon musk to bring investors beyond the finish line? >> as people know, elon musk is very popular and tesla for a big companies owned by a lot of retail shareholders. it has a meme stock vibe. traditionally, the institutional shareholders play a huge role in this. here you have retail shareholders playing a bigger role than normal and what we saw is a campaign, very aggressive marketing campaign i elon musk in some elon musk

let's turn to tesla now. be a victory for the company, for its ceo elon musk, in terms of putting to shareholders two different votes, one to reincorporate in the state of texas, and another to pay compensation to mr. musk that was voted on back in 2018. just to refresh, remind people, at the time it was worth about $2.6 billion, and he had to hit targets that at the time, again, in 2018 were milestones that were far in excess of anything tesla had ever achieved both in terms of the stock price, in terms of ebitda. all of those milestones were hit in the intervening six years. none of the options that had been awarded or were exercised by mr. musk, and they were subject of a court case in delaware where it was overturned. hence, put back to shareholders who had previous approved this plan back in 2018 by some 73% of those shareholders who voted. it does appear that once again shareholders have said have -- have said yes to this plan. and that would mean, of course, that mr. musk will come into some 300 millio

in charge of tesla. but if you're an investor and looking for something concrete, a signpost where you can say, okay, here's how the company is doing, these are three dates to keep in mind. and they're all coming up over the next six to eight weeks. q2 deliveries on july 2nd. the expectation is not that great at this point. people believe we could actually see another decline. then you've got q2 results, which could be challenging in the middle of july given the slow down in the growth of evs. and then you've got the robo taxi unveil on august 8th. so what do analysts think of all elon's comments yesterday? aside from the hoopla that was out there, adam jonas i think he summed it up the best. he said shareholder votes are important but they won't get consumers to buy evs, speaking to the fact near-term it's the electric vehicle business going to drive shares of tesla. then you've got mark delaney at goldman sachs saying we expect weaker market conditions to weigh on earnings in the near to intermediate t

chips gpus from nvidia to x instead of tesla when they had been reserved for tesla.nge, tesla would get the next shipments of shipments in january and june. so, he effectively delayed tesla's being able to continue building out data center and a.i. infrastructure by five, six months. >> so, who paid for the chips, tesla or x and xai? >> there's still a lot to be reported out here ostensibly tesla would have paid for tesla's chips and x for x's chips. >> we don't know if tesla paid for chips that ultimately went to another entity. we don't know that yet. but musk stepped in, big footed the process and said, hey, tesla is not ready to use these chips, not able to put them to work, but x and xai are, so send the chips there instead, is that the nub of it? >> he's saying now tesla wasn't ready for them. this begs the question as to why x corp had the resources to get to work standing up a brand-new data center but tesla, who has been talking about developing robo taxis, very sophisticated computer vision and a.i. wouldn't prioritize that and wasn't ready. these delays we

yes, this move to divert ai chips from tesla . to divert ai chips from tesla to divert ai chips fromk could wrangle tesla investors would it lead to delays in setting up supercomputers to develop fully autonomous vehicles for them instead prioritising ai startup ex ai which is competing against open ai. in response elon musk tweeted that tesla had no place to send the chips to turn them on so they would've sat in a warehouse for them adding the giga tax expansion will house 50,000 chips or self driving training for the it has become the third most valuable country in the world for its demand for chips as companies raise to build ai into their products without the timing two timing comes as mr mosk are asking shareholders to approve a record compensation package for sterling work writing the electric car maker. it's world environment day, an annual event to raise awareness and encourage action to protect the environment. this year, it comes as many countries in asia are facing intense heatwaves. we caught up with two young activists who use visuals to highlight issues in the region. t

jack: is tesla just be believe meme starkly does not do that speed.ercent holders test. there are available in trader held by retailers this basically twice as much as the big tech firms. silly launcher holder base is retail investors, like me and you understood you should managing billions of dollars it is interesting nearly see that the annual meeting because the quality of the questions in a going like if you look at watch buffets annual meeting the types of questions sophistication, they are not matched by the animating questions and assailants while it is. >> okay so well and 30 i was always of us to be of the test story musk now has a six a.i. company was going on there. >> well, musk is said earlier in the 125 percent of the company to keep a.i. projects such as we talk about this and this is getting any critic about i think i should himself. and he is with these options about 20 percent of the company now is six a.i. thing about the development what happened in x a.i. and from the a book keep the video tom striving you know he trains those car

katie: does tesla need elon musk at this point?ealing with mature car company problems. is elon musk the proper ceo for this company now? matt: i don't know. i think there is a belief among some shareholders that this company would be better off getting down to business and not doing other elon musk projects. i think if you are voting to approve this pay package, you think tesla has an elon musk premium, that there is something else going on, and that is linked to elon musk in his attention and his ability to come up with new ideas. i'm not sure that is completely right. i think some shareholders have changed their minds on that. katie: what is the basis for rear proofing the pay package? there is the idea that fair is fair and it was approved 2018. the past couple months, he has unmet metrics. seems hard for me to block out this history that we know happened. matt: he has not unmet all of the metrics. tesla was a $50 billion-something company, and it was highly ambitious. he exceeded the metrics. some of that came back, but it is

tesla is campaigning.e advertising, producing videos, and producing documents like this press release. more importantly, elon musk is tweeting about this all the time. we have seen a lot of sec filings that are essentially elon musk responding to various influencers, pro-tesla bulls talking about the vote. they are trying to reach retail shareholders which is the main base of ownership of tesla. caroline: apparently, they have to decide whether elon musk was galvanized by the stock compensation. >> you have a fear among even tesla bulls that if the pay package is not approved that elon musk could walk away. that is something elon musk has helped stoke by saying there's all this ai stuff, maybe i will do it outside of tesla, maybe not. you have a game of chicken. on one hand, yvonne is saying i am committed to tesla. on the other, he is making these threats. there is a fear that if he walked away, that would hurt the share price. so much of the company have to do with elon musk's cult of personality and rep

tesla's shareholders casting their ballots setting the fate of the massive pay package for elon musk.e'll speak to one major investor against that plan. >>> and and a.i. enthusiasm for become you're watching "worldwide exchange" leer on cnbc ♪ good morning welcome tom "worldwide exchange." thanks so much for being with us, the day after the fed decision we'll get you ready for the trading day ahead. we'll kick off the hour to look at u.s. stock futures with the s&p and nasdaq once again hitting new highs on the back of the fed rate decision and core inflation report the s&p crossing above 5400 for the first time ever. take a look at the futures this is interesting. look at dow. it looks like it would open more han 100 points lower however, the nasdaq and s&p firmly in the green. the nasdaq getting a big boost from broadcom and back to the fed. the fed holding on rates and for now at least forecasting just one cut this year. chair jerome powell saying the central bank is ready to act if the economic picture changes >> if the economy remains solid and inflation persists, we're prepared

muska spoke after it was announced when he also touted tesla's ai capabilities. >> tesla is also then real-world ai. so this is a big deal. tesla is ahead of google, openai, anyone on real-world software. taking in video and making decisions based on video. no one is even close. and it's getting better. tom: let's bring in bloomberg's daniel. he's been waiting patiently for us on this story. talk to us about the significance of this announcement in terms of the pay package and the move to texas. daniel: i think at the very top, we talk about the references to elon talking about ai, for investors, this means tesla, elon musk, they will not be splitting apart here, the idea that elon musk could take his ideas away from tesla and undermine evaluation, which depends on musk himself and ai. as you said at the top, this idea that this vote, the revelation -- the resolution on musk's pay package and the move from delaware to texas felt like a referendum on the company, but this result and after this agm that happened hours ago now, this just means there's strong confidence in elon musk and

tesla up by 3%.holders voting in favor of not only of the $56 billion pay package but also the moved to texas. will the judge thanks, lily? -- think similarly? i want to discuss at intuit. intuit mailchimp has a new revenue tool. protective and generative ai models designed to help marketeers with more revenue. sending the right email at the right time the right conversion. the ceo will talk us through it. sasan goodarzi joining us for more. this is about artificial intelligence. you have been talking up ai and reworking your business since you came in ceo. kudos to you for talking about it before the market did but have let generate revenue for you? sasan: thank you so much for having me. what we announced is a really big deal. let me start with contacts and talk about what we launched and how it will generate revenue for intuit. there are three big things we declared. one is shifting from building workflows were customers do the work to get to their financial outcomes to workflows where we do the w

but for tesla, texas is the future. delaware from a legal perspective, but the legal system and what is happening in delaware from a legal certainty point of view with a lot of cases being overturned, and judgments actually not keeping shareholder privacy front and center is actually concerning to us as a board. >> do you have any questions about incentives longer term for elon. which is he's obviously enormously wealthy. how will you incentivize him in the future? we're only six years into what is a ten-year plan and there's still five years can of vesting that has to take place. i'm not sure shareholders appreciate that piece either. >> when we constructed the 2018 plan without the help and also understanding the motivations obviously golling drive elon in terms of motivation, but we wanted to put this in for the long term. so it is a ten-year plan. even after he exercises the shares he must hold them for another five years. that hasn't even started yet. he has not exercised one share under this program. so we have a

arthritis don't use oh, tesla. if you're allergic to it previous allergic reactions can happen. oh, tesla may cause severe diarrhea, nausea, or vomiting. some people take new tesla had depression, suicidal thoughts, or weight loss upper respiratory tract infection and headache may occur with clear skin movie night is a groovy night live in the moment asked your doctor about oh tesla. >> today at america's beverage companies are models might still look the same, but they can be remade in a whole new way. >> thanks to you. >> were getting bottles back and we've developed a way to make new ones from 100% recycled plastic new bottles made using no new plastic, you'll be seeing more of these bottles in more places. and when we get more of them back can use less new plastic. >> bottles are day to be remade the most anticipated moment of this election and the stakes couldn't be higher. >> the president and the former president's one, state to moderated by jake tapper and dana bash, the cnn presidential debate thursday, ju

watch tesla, reporting elon musk ordered nvidia to ship thousands of chips reserved for tesla to musk'stures, x and xai. more on this story ahead on the show. tesla down slightly. "squawk on the street" back after this. the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo norman, bad news... i never graduated andfrom med school.ess. what? -but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... i know... faster wifi and savings? ...i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? >>> welcome back. gamestop giving back some gains this morning but hanging on a bit above $25 a share. let's get to kate rooney tracking the latest headlines around the meme name

don't use oh, tesla. if you're allergic to it, serious allergic reactions can happen oh, tesla may cause severe diarrhea, nausea, or vomiting some people take new tesla had depression, suicidal thoughts, or weight loss, upper respiratory tract infection, and headache may occur with clear skin movie night is a groovy night live in the moment. asked your doctor about oh tesla we all know that will eventually need a will eventually. how about right now trust and will has taken the process of creating your will and made it easy. like while you're lounging on the couch, easy, trust and whale is designed by attorneys but customized by u one question at a task. all documents or state specific. legally valid and start at just $199. that's not a typo. find the plan that's right for you at trust and whale.com and it can be able okay. doesn't blow and gave a console i think going cotton can stifle and good without endostyle guiding blown dish, good in a super even dome killed his client vision works see the differen

tesla shares barely off this morning.i talked about it a bit yesterday, the index funds here, significant holders of the stock, though, not necessarily determinant of the outcome of this are -- they were expected to follow the same path they did last time and so it's going to be an uphill battle for the company. you've got to get retail to show up. that's one of the key things here, just show up and actually vote. that also will be very important for the reincorporation in texas that is also being put to a separate vote of shareholders that requires 50.1% of the outstandings in favor for that to happen. but it will be very interesting to see if, in fact, the plan does not move forward because it is not ratified, what they choose to do in terms of making sure that musk is adequately compensated. i mean, jim, is there ever a chance that he says i'm out of here? >> well, yeah. i mean, i don't think that in the -- great interview that andrew did with robyn denholm, i think she really skirted the one issue which is what happen

morgan 192, s&p 500 winners, broad, up or team present, tesla up $10, that is 6% on tesla, a solid gainmusk will get the pay package. >> looking at the s&p 500 overall we started at 4700 in change so we went 6100. milestones in 2024 indus only june because your trading above 5400. >> show me the nasdaq, that just hit another all-time high, that is an intraday but another high for the nasdaq, broad, tesla, and electronic arts on the list of winners. the ten-year treasury yield, that is a number to look at down three basis points, that does not sound like much, it's job lot 430, 428 is the yield the price of gold 2337 down 17 bucks, bitcoin 68000 in small change, the price of oil $70 a barrel, 7875, nat gas is above $3, how about that, the average price for a gallon of regular 3.46, the average price of diesel is 3.70, coming up, protesters stormed the field at last night's congressional baseball game they were the only demonstrators at the game we have the full story transgender swimmer leah thomas has lost her lawsuit to compete in the olympics she's also blocked from competing in any e

used for in the tesla case. we get more later in the hour. the battleground in the market for ai accelerators. intel and nvidia modestly lower. intel is a bit higher. a lot of headlines coming out of compu text. here's what pat gelsinger had to say about that market for ai chips. >> every device will become an ai device. we see it as the fuel that striving the semiconductor industry to reach a trillion dollars by the end of the decade. >> the other thing that he said is moore's law is very much alive, a reference to the white paper in 1965 one of intel's cofounders that the number of transistors on integrated circuit will double every year without adding costs to the production process but what he was doing was pushing back against jensen of nvidia saying we will catch up and do this. >> he is arguing his case saying we can still do it. trying to make the case intel is still relevant and can have a central role in what's going on and captured this massive amount of spending. at the moment all of that money is go

i'm questioning whether tesla retail investor is going to get full benefit of the tesla great proprietarysure it is a fair exchange throughout every one of those >> deagain, we're back to the convergence idea they can help each other i don't think it is a win-lose situation. >> you don't worry about the conflict let me ask you about a final issue which may very well be considered a conflict of sorts, which is what do you think of all these "wall street journal" reports that have come out, specifically the one yesterday about his involvement with different women at the company, the allegations effectively that he's had these inappropriate relationships? >> well -- >> this is at spacex, specifically. >> right well, we read the article and, of course, governance is very important. gwyneth at spacex i think is probably very sensitized to this issue and i'm sure there are evaluations and investigations and so forth but as i understand it, from that article, really we're talking about stories that are from eight years and longer ago. and really nothing since and this is, you know, rinse and rep

doctors have been prescribing you tesla for over a decade oh tesla is also approved to treat psoriatic arthritis. don't use oh, tesla, if you're allergic to it, serious allergic reactions can happen oh, tesla may cause severe diarrhea nausea, or vomiting. some people take new tesla had depression, suicidal thoughts, or weight upper respiratory tract infection, and headache may occur with clear skin. >> movie night is a groovy night live, in the moment. asked your doctor about oh, tesla, if you have moderate to severe ulcerative colitis or crohn's disease, put it in check with rent folk, a once-daily pill. >> when symptoms tried to take control, i got rapid relief and reduced fatigue. we print vogue when flares kept trying to slow me down, i got last thinks they're right three remission with red book jack when my doctor saw damage, written book helped visibly reduce damage of the intestinal lining. >> check for both uc and crohn's rapid symptom relief lasting steroid three remission and visibly reduced damage check check and check we're invoking lower your ability to fight infections in

liz: how does he and tesla do that?on't fire steve jobs and in a lot of ways, elon is one of the few people in that category and so for example think alaska the claims made around opt mus and a $30 trillion company and elon said stuff and that's crazy but turns out it's not crazy. liz: listen to what he said about optimus and get thoughts on how they convince this judge to push through what is now the second overwhelming vote in favor of the pay package. what he said about the robotic point. >> thinking about the opportunisticty mus r robot and it's intended to be at your house and be your companion and baby sit your kids and be in your kith and great teacher and it can do factory stuff and liz: star wars $25 trillion market cap and predicting opportunistic pinata turnover margins could bring -- optimus could bring tesla to. >> bigger fish to fry before dealing with optimus and dealing with nervous and teaching that thing and going aside from that. what's the strike thaty you'd advise? >> he's smart in his own slightly

when did you buy tesla? on tesla, bought it ten years ago and a critical supporter of tesla in 2018. if it weren't for investors like me and my firm and several other firms that supported elon in 2018, tesla wouldn't have made it if you all recall. and so, the bottom line -- >> i guess then my question would be, don't you think he's earned it? >> yeah. and i think my investment in nvidia that's done five times better in the same ten years, jensen isn't getting paid this. and elon owned 20% of the company at that time, worth $10 billion and he's personally benefitted to the tune of $90 billion of gaines. when you own your own company you don't need compensation. you know, it's like a silly thing. so like most billionaires take like $1 salary or no salary at all. i was looking at the precedent of steve jobs when he came back to apple. he didn't own any apple stock so they gave him 7.5 million share option at that time at the market and that was his compensation forever at apple. in the end he never owned a ton

if you're invested in tesla, if you're investinged in elon musk's businesses in any way, do you see teslahen being pryor titled ultimately as a business from elon musk? he has his hands in many pies, so to speak. and this tesla pie, which is usually seen as pretty much the crown jewel within his portfolio is the one he would like to have more ownership in so he could spend more on. you have the pay package that they're getting a vote on. all of that, if you wanted investors to actually vote positively on that, well, they certainly won't do it if you're taking away the same iowa chips can and the same ai advancement and now you're putting it away elsewhere. so is elon musk robbing peter to pay paul? i want to get arjun's thoughts on this one. he's at the 2020 conference. before we get to your guest, just your thoughts perhaps on this one. i reckon he might be robbing peter to pay paul on this one, and it may not necessarily bode too well for tesla, which has been struggling. >> good morning, arabile. there's two things to say, there's a lot to say, but two things to say. one this speaks to

you shouldn't rely on tesla to be the charging supplier.: you have to diversify charging capabilities. makes sense. hybrids. anecdotally i see more hybrids on the road. what do you think the future looks like? evs will be the dominant green car? for something closer to hybrids? steven: it all depends when and where. eventually perhaps 95% of mobility will be electric. depends where. example, there is a cowgirl in wyoming with a diesel truck. she's not the problem. is the 400,000 people on the highway with me when i'm driving to work. in urban areas, you will see evs in the immediate term. everything should be a hybrid. hybrids operate when you break inertia. as you start to pull away from a light. that's the dirtiest and most fuel consuming portion of your dirty -- of your journey. if everything was hybrid, we would be world ahead. plug-in hybrids, you will reduce co2 further and save fuel. depends where and when. it's not a linear conversion to evs. matt: what's next for this market? the telluride has ruled in terms of design for suv's. i

tesla has performed. what investors want from their ceos, when any kind of an incentive or pay package is set out there. you hit these benchmarks, you will be compensated. now, it's a completely separate conversation about whether or not any executive is worth $56 billion. but separate the two. this was approved by shareholders in 2018. that's why i believe many of those retail shareholders will vote "yes," even though you saw the institutional shareholder who is you showed earlier who are saying, no, this is going to dilute the stock and it shouldn't happen. >> we'll see you on thursday. look forward to that. phil lebeau, with thanks for your insight. >>> up next, we're tracking the biggest movers as we head into the close. kristina is back with that. >> we have continued concerns around the faundamentals of one steelmaker who is dragging down the entire sector. that and more, next. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay

>> fundamentally, we think tesla is struggling so, tesla still believes it's going to grow its unitsaterially, eating into earnings and cash flow. but the stock, you know, we believe the stock will do less than $2 in earnings this year, so it's trading at about 90 times earnings, about 75 times our number for next year. and this is a company that's not going to grow this year and will likely grow very modestly next year. and we think there's a disconnect between the fundamentals and the current stock price, and i think part of that is driven by the fact that this is a aspirational company and that's what we heard at the shareholder meeting yesterday. elon wants people to dream the dream, and the dream ultimately is, you know, that tesla is going to be a robo taxi company. tesla is going to be an intelligent robot company. and those are big markets and can ascribe very large valuations to that. and so, that's the implicit tension in the stock. today is not particularly good. elon musk is casting a vision of what something really good could be in the future, and this is a really retail

oh, tesla can help you get cleared don't use a tesla if you're allergic to it.happen. oh, tesla may cause severe diarrhea, nausea, or vomiting. some people taking the tesla had depression suicidal thoughts, or weight weight-loss, upper respiratory tract infection, and headache live in the moment. asked your doctor about oh tesla in three seconds, why this couple will share a perfect moment but we got to sell our houses. >> well, almost perfect. don't worry, just sell norman, bad news... i never graduated from med school. what? -but the good news is... xfinity mobile just got even better! now, you can automatically connect to wifi speeds up to a gig on the go. plus, buy one unlimited line and get one free for a year. i gotta get this deal... i know... faster wifi and savings? ...i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? 510200, coventry direct redefining insurance the lead with jake tapper. >> next, odd cnn closed captioning brought to you by meso book.com if you or a loved. >> one have

oh, tesla can help you get clears don't use a tesla if you're allergic to it. serious allergic reactions can happen oh, tesla may cause severe diarrhea yeah. nausea or vomiting. some people taking the tesla had depression, suicidal thoughts, or weight loss, upper respiratory tract infection, and headache may occur living the moment. asked your doctor about oh tesla, awkward question is you're gonna be anything leftover. >> oh, absolutely. >> my kids don't know what they want. you know, who knows what she wants with empower. >> we get all of our financial questions answered. >> so you don't have to worry, empower. >> what's next? >> my mental health was better, but i'm uncontrollable movements called teeny tardive dyskinesia started disrupting like day td felt embarrassing i felt like disconnecting i asked my doctor about treating my td and learned about in grad the greta is clinically proven for reducing td. >> most people saw results in just two weeks, people taking in greta can stay on most mental health meds. only number one, prescribed in gaza it has simple

that is what is showing up on tesla here. you can find them weird but can you find them in an emergency. -- can find them. but can you find them in an emergency situation? if you are in a roundabout in the middle of it in your steering wheel is upside down you don't know what arrow to push. ed: bloomberg's keith naughton, great to catch up on bloomberg technology that is it for this edition. check out the podcast. what an episode. happy friday to everybody around the world. this is bloomberg technology. but starting it eight months pregnant.. that's a different story. i couldn't slow down. we were starting a business from the ground up. people were showing up left and right. and so did our business needs. the chase ink card made it easy. when you go for something big like this, your kids see that. and they believe they can do the same. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. make more of what's yours. sweat isn't sweet. it's salty. lmnt. more electrol