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Last-place St. Louis Cardinals trying to find their way
Last-place St. Louis Cardinals trying to find their way
The St. Louis Cardinals are last in the NL Central with a 13-25 record in a surprisingly lackluster start for one of baseball's winningest franchises
1970-01-01 08:00
SpinLaunch Hires Leading Aerospace Investment Strategist Matthew Mejía As Chief Financial Officer and Chief Strategy Officer
SpinLaunch Hires Leading Aerospace Investment Strategist Matthew Mejía As Chief Financial Officer and Chief Strategy Officer
LONG BEACH, Calif.--(BUSINESS WIRE)--May 17, 2023--
2023-05-17 21:01
Tesla’s profits dip as Elon Musk goes on rant against staff working from home
Tesla’s profits dip as Elon Musk goes on rant against staff working from home
Electric car maker Tesla’s profits took a dive in the third quarter, according to an earnings call on Wednesday in which the company’s chief Elon Musk blamed staff working from home for being “detached from reality”. Tesla’s profits in Q3 of 2023 have plunged by over 40 per cent compared to the gains it made in the same period last year after the company slashed its car prices by around 25 per cent in an attempt to compete with other EV makers. The EV manufacturer reported a net profit of about $1.9bn for the time between July through September, which is a 44 percent drop from the $3.3bn it made in the same three-month period last year. While the company has seen a small increase in overall revenue of about $23bn from the $21bn the same time last year, the figures are still lower than Wall Street expectations. Mr Musk also dampened hopes of the company’s anticipated Cybertruck reviving profits in the near future, announcing that it would take at least 18 months for the truck to become profitable as it could go on sale only by the end of November. “There will be enormous challenges in reaching volume production with Cybertruck and making the Cybertruck cash flow positive,” the Tesla titan told investors and analysts in the earnings call. “The blood, sweat and tears that will be required to achieve that is just staggering,” he added. Over the last year, Tesla has slashed the prices of its cars by quarter to boost sales. Growing competition with the introduction of EVs by other car makers in the US, including BMW, Toyota, Mercedes, GM and Hyundai, has also coincided with Tesla’s share of vehicles in the EV market reducing in the last quarter. In the earnings call, Mr Musk also said staff working from home are taking advantage of those who cannot work from home. “Like... what about all the people that have to come to the factory and build the cars?” he asked. “Why did I sleep in the factory so many times? Because it mattered,” the Tesla chief said. Mr Musk echoed the statements he made in an interview with CNN earlier this year in which he called remote work “morally wrong”, arguing that it is unfair to those who cannot have the option. “Get off the goddamn moral high horse with the work-from-home bullshit,” he said. Tesla also pointed fingers at its reduction in production while it upgraded its factories as one of the factors behind the profit slump. It said it has also been making big investments in AI and “commissioned one of the world’s largest supercomputers.” “We have more than doubled the size of our AI training compute, accommodating for both our growing data set & Optimus, which is currently being trained for simple tasks through AI rather than hardcoded software, while its hardware continues to improve,” Tesla said. But all is not gloomy as the company says the first deliveries of its Cybertruck are scheduled for 30 November and Tesla’s Model Y remains the “best-selling vehicle of any kind” in Europe. Read More X begins charging new users to post as part of trial EU asks Elon Musk to ‘walk the talk’ on X/Twitter disinformation over Hamas attack AOC wants to ‘trade in’ her Tesla for union-made electric vehicle amid historic auto workers strike Amazon to start dropping packages into people’s gardens using drones in the UK Facebook has stopped working Facial recognition firm Clearview AI overturns UK data privacy fine
2023-10-19 13:52
At Paris summit, World Bank lays out plans to tackle natural disasters
At Paris summit, World Bank lays out plans to tackle natural disasters
By Leigh Thomas and John Irish PARIS (Reuters) -The World Bank chief will announce a raft of measures on Thursday
2023-06-22 16:52
Is Warzone 2 Down? How to Check Server Status
Is Warzone 2 Down? How to Check Server Status
Call of Duty: Warzone 2.0 servers are currently online, and fans can check server statuse by visiting Activision's website.
1970-01-01 08:00
Why is Rob Marciano in London? Fans gush over 'GMA' star’s toned physique in getaway photos, say 'looking good'
Why is Rob Marciano in London? Fans gush over 'GMA' star’s toned physique in getaway photos, say 'looking good'
'GMA ' fans swoon as weatherman Rob Marciano flaunts his muscles in shorts and a short-sleeve shirt during his London vacation on Instagram
2023-07-05 12:12
In divided US, women crisscross country for abortion care
In divided US, women crisscross country for abortion care
A year after the US Supreme Court abolished nationwide access to abortion care, many American women are settling into a new reality: arranging costly trips to terminate their pregnancies in...
2023-09-28 13:14
Keep Your Kids Safe Online: 4 Family-Friendly Sites That Can Teach You How
Keep Your Kids Safe Online: 4 Family-Friendly Sites That Can Teach You How
Whitney Houston famously sang, "I believe the children are our future, teach them well and
2023-07-11 23:19
Australia government approves first new coal mine since elected
Australia government approves first new coal mine since elected
The government came to power a year ago promising greater action on climate change.
1970-01-01 08:00
Who was Jaylee Chillson? 'Bullied' Kansas teen shot herself dead in front of cop after disobeying parents to attend party
Who was Jaylee Chillson? 'Bullied' Kansas teen shot herself dead in front of cop after disobeying parents to attend party
Jaylee Chillson was reportedly at the outdoor gathering around 11:30 pm on September 16, when a deputy tracked her down
2023-09-23 18:02
Cricket helps us feel at home in Scottish Borders - refugees
Cricket helps us feel at home in Scottish Borders - refugees
Teenagers who fled Afghanistan have told the BBC playing the sport in Galashiels has made their time easier.
2023-06-12 13:11
Real Betis give Héctor Bellerín the most satisfying Wes Anderson-inspired reveal
Real Betis give Héctor Bellerín the most satisfying Wes Anderson-inspired reveal
Real Betis are being praised for their extra-special welcome back to Héctor Bellerín, after they posted a cinematic video inspired by Wes Anderson for his reveal. In the video, Bellerín makes his voyage back to the club, in classic Wes Anderson style, with pastel tones and symmetry galore. Bellerín has committed to a five-year deal as he returns to Betis after a year, the club supported by his grandfather. Sign up to our new free Indy100 weekly newsletter
2023-07-19 23:45