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This is Scott Becker with the Becker Business and the Becker Private Equity podcast. We try and bring you daily one to two business and market insight episodes and then typically an interview with a business leader that we love talking to. Today's discussion is Tesla surges to a new record. Now you'll get this podcast to be released on Saturday. As of Tuesday, Tesla had hit a new record high. And this is of course led to Elon Musk between this and SpaceX, leading him to new record net worth numbers that have been unheard of really throughout history, getting to 6,700 billion in net worth. And I don't fault that. I don't have a negative on it. I don't have an opinion on it. He's created so many jobs, so many great things that maybe that's the kind of wealth that comes with that, I don't know. I know it causes lots of tension in society when one person's so much richer than so many other people. That's just the way of the world. But it might be just a piece of capitalism I have to work with to have people to live with, to have people creating wealth and jobs and new concepts like he has done. But simply remarkable. In any event, Tesla has hit a brand new high in terms of market cap. It's up now about 20% year to date. It had hit a high on Tuesday, had given back some of that on Wednesday, but then as of Thursday was recovering. You're hearing this and I don't know what happened on Friday because this is being recorded on Thursday for release on Saturday. But at the end of the day, either way, Tesla has really evolved to this crazy spot where it's not just reliant on its car sales and it's by far the dominant EV car maker. So much so that the CEO of Rivian, which is doing great and up 32% year to date, it made some negative comments the other day about Tesla being so powerful as an EV maker. And again, for Rivian, who's doing quite well and just was way behind in growing this behind Tesla, I view it as a little bit of whining and sour grapes. Lucid Motors, in contrast, is having even more trouble growing into substantial car maker. But Tesla's number one and just hit a record high again. This translates into several things. The real reason that Tesla's hitting this record high is it's not so much its EV business, which is a great solid business, it's more the fact that they are now developing this platform of these other services, such as the robo Taxis which have gone live in a couple of places and being tested and going well. And this is going to be a real change maker in American society. For bad and for good. For bad in that so many people in our country rely on driving for a living or to fill in the gaps in their income. That's bad and I think quite frankly, horrible. For good. And that maybe over time it might be a little safer, might be a little this, a little bit that. But I know that the winners in this are ultimately going to be, it seems like, are going to be Tesla. They keep on hitting new records, which I think if you looked at the start of this year, in all the different challenges that Tesla was having, European car sales were going way down in the United States. Just between us having a tiff with President Trump and the left really disliking Elon Musk, we're getting on the conservative bandwagon. Was having trouble getting as many EVs soldier. But. But as this thing evolves, Tesla remains by far the largest EV maker. And in fact, it's now at a spot where some of the legacy automakers who had tried to really invest in EVs are really pulling back. In fact, this week Ford made the announcement that they'll be taking a $19.5 billion hit on as they slow down and move away from and pivot away from electric vehicles. And that itself is fascinating as well. So again, this all leads to, in summary, a variety of different business lines. Elon Musk and Tesla really winning. Hitting a new all time high for market cap and their valuation. Simply amazing to watch the resilience and strength of Elon Musk. I do wonder, just from a human standpoint, how long he could go at this pace. I don't know that, but it's remarkable what he's accomplishing with both SpaceX and Tesla and some of his other companies, quite frankly. Again, Tesla surges to a new high. Thank you for listening to the Becker Business and the Becker Private Equity Podcast. If you're the first person to listen to this podcast all the way through and you text me Tesla, we will send you a $25Amazon gift certificate. The text has got to come to 773-766-5322. Thank you so much for listening to the Becker Business and the Becker Private Equity Podcast. Thank you.
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