00:00If you look at what they're doing, Elon Musk was aghast when he got in and saw how old the technology infrastructure was in the U.S.
00:1050, 60 years. Lots of manual activity. It's ridiculous.
00:17He also claimed to have found savings that haven't been stacked up and there's been a lack of transparency that's come through from Doge would be the kind of pushback.
00:27Well, I think the reason you know that is because there has been transparency, you know, that there has been transparency.
00:34Have you had a I mean, you've been a longtime supporter of Musk.
00:37Have you had a phone call with him and said, you know, the political damage to the brand is now acute?
00:41I mean, we're seeing, you know, double digit losses in terms of sales in Germany, a big drop in sales of Teslas in France.
00:47You know, we've seen the backlash in the U.S. That was a mistake, wasn't it, from from Musk?
00:52I think he feels he has a duty to the country to make sure we don't blow ourselves up with these deficits.
01:00You must have been concerned about brand damage for Tesla.
01:04Brand damage. Yes.
01:06And it has happened. I do not believe so.
01:08Tesla, we believe, will have a lock on the robo taxi business in the U.S.
01:16First robo taxis launching in Austin in June, and we believe they're going to proliferate through the United States,
01:23especially if we move regulation from a state level to federal level, which we believe will happen.
01:30It's going to proliferate through the United States, I think, more quickly than many people expect.
01:36Many people don't expect it at all.
01:37So that's that's going to be easy to beat.
01:40So, yes, it did hurt.
01:43But what also hurt was macros.
01:46All automakers, until this tariff swoosh, you know, to get ahead of tariffs, all automakers have been suffering.
01:56And especially in the first quarter, the new cycle passes quickly in the United States.
02:01And now that Elon is stepping somewhat aside, not completely.
02:07Which you welcome.
02:10Yeah. No, I think I think the shock value of what he did was important.
02:14And now he's got a team in place that is going to follow through.
02:19And the way that Elon works is he sets milestones and and time time frames.
02:29And when they doesn't meet when they are not.
02:31Met, he goes in and becomes ultra focused.
02:36And, you know, you hear about the mass layoffs and and all of that.
02:40So is there a concern to you in your mind around?
02:42I mean, we talk a lot about decoupling in terms of the trade trade war between the U.S. and China of decoupling between the U.S. and China.
02:51But actually, there may be an element of decoupling with Europe because of the additional regulations that the Europeans want.
02:57I mean, if you talk about robo taxis, we can can we really imagine that there will be a mass arrival of robo taxis in all the cities across Europe?
03:05You know, the regulators here are not allowing or UK and Europe are not allowing FSD.
03:12So I think it'll be a long time.
03:13But I think there will be demand pull ultimately, because when people visit the United States and see that they can watch a movie while they're being, you know, they're being transported from here to there.
03:27I think there are I think people love new technology and especially when it increases convenience and is less expensive than their their existing alternatives.
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