
2019 AI Hype Countdown #1: Tesla’s Robotaxis—Tales of a Phantom Fleet
Musk put out a tweet on December 22, saying “Sorry, it's been a bit of a struggle.” At last, a claim we can unreservedly believeBecause Tesla has yet to make a yearly profit in any of its sixteen years of existence, it depends on capital raises of various forms (equity, debt, etc.) to stay in business. Capital raises require big promises and Tesla’s overstatements about its self-driving cars are always good for a few billion.
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