Sam

Proposal to end gerrymandering: any changes to districts would require the area to be larger than the perimeter. Too mathy?

Try this thought experiment -- you're a tech company that needs to lay off a chunk of people. What's going to play better: 1) "we're laying off a chunk of people because times are tough", or 2) "we're laying off a chunk of people because AI has made all of our employees more productive"?

Just start rifling through it. “I’m sorry - since you put it up here, I thought you wanted to show me something in it.”

Really hard to green light projects when your borrowing cost exceeds the expected return

Whoever it is, they're new.

"I am invested in a startup that makes cold brew coffee". There must be a crypto or AI angle. I swear he would do better investing with the Minkmans making phony doggie doody.

I wonder if, when you guys started this excellent podcast, you had any idea how much material you’d have!

a man is holding his finger to his forehead while thinking . ALT: a man is holding his finger to his forehead while thinking .

But if you buy these magic beans with credit card points...

I wonder what would happen if Xi took this opportunity to repo a certain Shanghai auto factory…

a man in a suit and bow tie is standing in front of a car on a street . ALT: a man in a suit and bow tie is standing in front of a car on a street .

Or...

Depends...

I just hope they back it up first.

This transaction reminds me of that riddle with the three guys going to the hotel and paying and you have to figure out what happened to the extra dollar.

@petebuttigieg.bsky.social this is the kind of stuff we were hoping you could have accomplished…

Which leaves approximately $500M still unexplained. Not $1.4B but still a pretty large number. 4/

In addition, the cash flow for Q3/Q4 discloses "Depreciation, amortization and impairment" of $2.8B which is greater than the depreciation amount derived from the amounts disclosed in the PP&E footnotes ($2.2B). So, the $.6M additional amount could be impairments. 3/

As you can see, in addition to the $1.4B that was pointed out, there is a partially offsetting $270M in depreciation leaving a net 'unexplained' difference of $1.1B. 2/

PP&E rollforward

OK because I was curious, I created a PP&E rollforward for Tesla from 6/30/24 to 12/31/25. The blue row is plugged 1/

This is where you insert your Emperor ERP meme…

I probably wasn’t explaining myself well. My point was that I would assume that Tesla would be trying to make themselves look more profitable (I.e. putting expenses on the balance sheet as assets rather than lowering income). The higher book value would just be a result rather than the goal.

What I don’t understand quite understand with this story is that if Tesla were really trying to improve their results through accounting fraud, you’d look for the exact opposite of this (I.e. too much value in assets on the balance sheet)

Didn’t Napoleon try that once?

Give em a break. It’s hard to think straight in the thin air high atop Mt. Dunning-Kruger.

But he has since “taken him down” on the late night talk shows according to my YouTube feed. So there’s that…

Come on down to the White House Tesla Auto Mall!

Is it true that these guys (Baron, Wood, Lee, etc) pay to appear?

Even better if the segment includes serious analysts and their take on these guys.

Sorry to see him and Huf leave SF. Good for the Broncos.

At this rate, the Board will soon be able to re-grant Musk his options without taking a P&L hit.