In a surprising move, Tesla CEO Elon Musk is taking a page out of the “Mad Men” playbook by changing the narrative surrounding the company’s latest quarterly results. Despite disappointing numbers, including a 9% drop in car sales and a 50% decrease in operating profit, Musk managed to shift the conversation towards a more optimistic outlook.
During a recent earnings call, Musk announced plans for new models and a renewed focus on autonomous ridesharing, causing Tesla’s stock price to surge. He reassured investors by repositioning Tesla as a digital platform for autonomous ridesharing and emphasized the company’s potential as an AI robotics firm.
While some market observers have expressed skepticism over Tesla’s ambitious plans, questioning the timeline for achieving full self-driving technology, Musk remains confident in the company’s direction. He believes that achieving unsupervised full self-driving could lead to the biggest asset value appreciation in history.
Analysts, however, remain critical of Tesla’s commitment to autonomous technology and the timeline for launching a ride-hailing service. Despite the challenges, Musk’s strategy of changing the definition of success for the company could prove beneficial in the long run.
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