Motley Fool Money: FSD’s Big Week, Abel Makes a Mark on Berkshire, and 24/7 Trading

Date: January 23, 2026
Host: Travis Hoyam
Guests: Lou Whiteman, John Quast

Episode Overview

This episode covers the latest in autonomous vehicle technology, with a particular focus on Tesla's new robo taxis, trends in automotive insurance, and emerging business models. The discussion then pivots to Berkshire Hathaway under new CEO Greg Abel, the evolving landscape for big tech and AI hardware, a lively round of hypothetical mega-acquisitions, and finally, the implications of NYSE’s push toward tokenized 24/7 stock trading. Each segment features real-time industry analysis, forthright commentary, and actionable takeaways for long-term investors.

Key Discussion Points & Insights

1. Tesla's FSD Progress and Robo Taxis

[00:40 – 10:33]

• Tesla launches fully driverless robo taxis in Austin, Texas.
  • Noted as “a step in the process, not a watershed moment” since competitors like Waymo and Zoox are already live in driverless modes.
  • Lou Whiteman: “It's a step in the process... I know that Tesla isn't in the lead here. I don't think it matters who's in the lead. It's just, can they get there?” [01:19]
• Safety concerns and ongoing monitoring.
  • Eight or nine reported accidents involving Tesla's autonomous vehicles, even with safety drivers.
  • Scrutiny over transparency in safety data and genuine autonomy.
• Elon Musk’s Timelines:
  • John Quast: “Take what he says very seriously, but don't necessarily take the timetable seriously.” [02:55]
  • Example: Musk's promises about AI data centers in space prompt skepticism about timetables.
• Lemonade partnership for Tesla insurance
  • Drivers can save 50% on insurance when operating in FSD mode, reflecting smarter, data-driven insurance pricing.
  • John Quast: “Cars are getting smarter and insurance needs to tap into that.” [04:21]
• Winner-Take-All Thesis is Overstated
  • Features like full self-driving will likely become standard over time, akin to airbags or seatbelts.
  • Lou Whiteman: “The long history for automotive is that things that are premium become standard over... especially with safety.” [05:56]
• Subscription Model for FSD
  • Tesla dropping hefty upfront FSD fees for a $100/month subscription—seen as admitting difficulty in selling high-ticket software.
  • Lou Whiteman: “Very rare that a company stops taking $8,000 upfront in return for $100 a month. I think that's a sign of weakness.” [08:33]

2. Greg Abel’s Mark at Berkshire Hathaway

[11:26 – 14:12]

• Abel potentially unwinding Buffett’s Kraft Heinz deal
  • Seen more as portfolio cleanup than an attempt to define a new Abel era.
  • John Quast: “If he was going to make his mark, he'd do it in another company… But I think he's just tidying up the portfolio.” [11:45]
• Subtle but significant management shakeups
  • New hires and moves may foreshadow a departure from Buffett’s “business as usual.”
  • Lou Whiteman: “Maybe Greg Abel was picked because he didn't want to do that. Who knows?” [14:12]

3. Apple, AI, and the Race in Consumer Hardware

[14:48 – 19:21]

• AI-Powered Siri with Gemini Integration
  • Apple is integrating Google’s Gemini into Siri—unclear if this is leading or merely following the innovation curve.
  • Lou Whiteman: “This feels both tired to me and wired if they actually get it right. Because... let's see you do it.” [15:56]
• Speculating on New AI Hardware (“AI Pin”)
  • Potential devices (pins, earbuds, glasses) could drive the next paradigm, but skepticism abounds regarding actual use cases.
  • John Quast: “I just don't see any AI device company out there that can get it done... Apple Vision Pro is a good example here.” [17:00]
  • Discussion about Apple’s classic strategy of “observe and iterate,” and doubts about whether a rushed launch is wise.
  • Lou Whiteman: “Apple has made its money on observe and iterate... If they are switched to ‘we gotta be first’... that's not really the Apple winning strategy.” [18:07]
• Tim Cook’s future as CEO
  • Speculation about his suitability to lead Apple into the AI era.

4. Mega M&A: Hypothetical Acquisition Targets

[20:18 – 30:33]

Disney

• Targets: Nintendo, Epic Games, Electronic Arts, Hasbro, Mattel.
• John Quast: “Epic Games is pretty attractive... Disney in the gaming department... could grow.” [20:59]
• Lou Whiteman: Suggests waiting for Electronic Arts to come on the market from private equity. Not keen on Paramount.

Microsoft

• Targets: OpenAI, Salesforce, Discord, Zoom, DocuSign.
• Both guests skeptical about acquiring OpenAI or Discord.
• Salesforce (or similar SaaS businesses) seen as more logical additions.

Berkshire Hathaway

• Targets: MGM Resorts, Sysco (food delivery), United Rentals, Disney.
• Lou Whiteman floats a wild-card Disney deal:
  • “What about Disney?... If you really want to buy something outright, why not go big and actually get into a new vertical?” [26:06]
• Discussion on whether legacy companies would benefit from long-term private ownership away from public market pressures.

Spotify

• Targets: Universal Music Group, Live Nation, Paramount.
• John Quast: Open to radically transforming Spotify with a Paramount deal but recognizes risks.
• Lou Whiteman: Prefers incremental, bolt-on audiobook/audio content acquisitions for Spotify, sees little synergy with legacy video assets.
• Intrigue over Spotify's maturity as an acquirer, but skepticism about massive integration.

5. Tokenization of Stocks & 24/7 Trading

[31:53 – 36:31]

• NYSE announces plans for tokenized stocks and round-the-clock trading
  • Asset-backed tokens promise increased liquidity and global trading flexibility.
  • John Quast: Likens the move to a “penguin jumping in, and then all the others following” [31:53]
• Potential Pros and Cons
  • Back-end improvements (instant settlement) could lower costs, but there are regulatory questions (commodity status, insider trading laws).
  • Discusses risk of dilution of trading volume, wider bid-ask spreads, and reduced price discovery.
  • Lou Whiteman: “Be careful what you wish for. That's not going to be a good environment for anyone. Price discovery will get a lot worse.” [33:00]
• Tokenization Beyond Stocks
  • Potential for real estate and illiquid asset markets, per Larry Fink's vision.
  • Lou Whiteman (joking): “Oh, boy. I can day trade my house.” [36:31]

6. Stocks On Our Radar

[36:54 – 39:40]

• Lou Whiteman: Rocket Lab (RKLB)
  • Up 180% in 12 months, but new rocket setback raises execution risk.
  • “The longer we go without the neutron flying, the more questions there are going to be.” [36:54]
• John Quast: ELF Beauty (ELF)
  • Low-cost cosmetics leader showing continuous growth (27 straight quarters), leveraging price increases and tariff relief as future tailwinds.
  • “Still a small player... expects 18 to 20% growth this year. Only trades at about 4 times sales. I find that reasonable.” [38:07]
• Host Travis Hoyam sides with ELF Beauty for this week’s watch list due to continued fundamental outperformance over “companies that explode.”

Notable Quotes & Memorable Moments

• On Elon Musk’s Promises:
  “Take what he says very seriously, but don't necessarily take the timetable seriously.” – John Quast [02:55]

• On Subscription Auto Features:
  “Very rare that a company stops taking $8,000 upfront... in return for $100 a month. I think that's a sign of weakness.” – Lou Whiteman [08:33]

• On Greg Abel at Berkshire:
  “Maybe Greg Abel was picked because he didn't want to do that. Who knows?” – Lou Whiteman [14:12]

• On AI Hardware Hype:
  “This feels both tired to me and wired if they actually get it right.” – Lou Whiteman on Apple’s AI ambitions [15:56]

• On Tokenized 24/7 Markets:
  “Be careful what you wish for. That's not going to be a good environment for anyone. Price discovery will get a lot worse.” – Lou Whiteman [33:00]

• Closing Banter:
  “Between a beauty company that continues to put up wins versus a rocket company that continues to not, I can just confidently say we're gonna put Elf Beauty on the watch list today.” – Travis Hoyam [39:24]

Useful Timestamps

• Tesla FSD & Robo Taxis: 00:40 – 10:33
• Berkshire Hathaway & Greg Abel: 11:26 – 14:12
• Apple & AI Hardware Discussion: 14:48 – 19:21
• Mega Acquisitions Segment: 20:18 – 30:33
• 24/7 Tokenized Trading: 31:53 – 36:31
• Stocks on the Radar: 36:54 – 39:40

Tone:
Conversational, candid, occasionally irreverent but always grounded in long-term investing fundamentals.

For Investors Who Missed the Episode:
This episode covered the intersection of automation, AI, mega-deals, and new trading paradigms with humor and skepticism. Key takeaways: take big tech promises seriously but not literally; subscription models in autos remain unproven; Berkshire is changing, but perhaps not drastically; AI hardware is a high-risk guessing game; and 24/7 markets could bring more confusion than value. Watch ELF Beauty for steady growth—and always brace for industry disruptors.