Elon Musk: Tesla Cybertruck fully redesigned, new Tesla announcement – LIVE, Tesla CEO, Elon Musk

Tesla CEO Elon Musk wrote on Twitter Thursday that his long-promised Cybertruck would be “waterproof enough” to operate as a boat, the day before Tesla will give a demonstration of its artificial intelligence capabilities.

Uh i i wonder a little bit more diligent um to confirm uh that the who could confirm that the percentage of renewable energy usage is most likely uh a sort of hour above 50 um and that there is that that there is a trend towards increasing that number um and if so then tesla will resume bitcoin uh accepting bitcoin uh yeah so i think we want to just do a little bit

More diligence on on nothing but most likely the answer is that person would would resume accepting bitcoin most likely kathy yeah may i ask you a question um elon i’m not quite sure if you saw the paper uh that square and arc did together on um making uh bitcoin mining a part of a utility uh you know a broad-based utility ecosystem whereby you know the overage

From sunshine or wind uh powers the bitcoin mining machine thereby enabling uh the proliferation of renewables uh to a much faster extent or at a faster rate than otherwise would be the case what do you think of that well the problem is that in order to operate um so-called mining or hashing rigs in order to operate a bunch of hashing rigs uh uh you effectively

You have to run them 24 7. um which means you need base load uh what you can do that with uh solar and wind plus battery but if you only did it based on solar wind overage uh your um your your hashing regularization would be much less so you’ll be at a disadvantage hydro or geothermal are great for as renewable means i’m also pro-nuclear i think mononuclear

Power plants are safe contrary to what people may think um so um i really think we’re you know we’re um it’s possible to make a very very extremely safe nuclear i’m talking about fission you don’t need fusion um and then of course fusion you just got that big fusion reactor in the sky called the sun it comes up every you know every day um so uh but i think a

Combination of solar and wind plus uh stationary storage uh will get you that base load so you can run uh hashing 24 7. okay jack i’m curious you you’ve stated that bitcoin incentivizes renewable energy uh that’s what we’re talking about now do you have any additional thoughts on that yeah i mean every everything that uh that elon said and kathy kathy mentioned

But um it it’s also incentivizing a lot of innovation and in just energy space and just like looking at unused energy um there’s a there’s a company called uh great american mining that um caps the methane flares on oil fields to power their their rigs and you just imagine and you mentioned nuclear elon as well and just imagine all the unused energy that is just

Being wasted every single day um and being able to get that energy and convert it converting it into a secure sound money system for the planet feels like a worthy trade-off and and that’s the sort of incentive that i think is is most powerful is like how do we reuse what is being currently just dumped on the ground and wasted and and not considered and how do

We do that at scale and i think that’s a that’s a bigger conversation that i think is is missing um but i agree with with everything that elon has said and also um you know the paper we put forth i i’m curious if any of you have thoughts on how the industry what the industry can do to accelerate this the transition to renewable energy and like elon specifically

Could tesla energy or starlink play a role well um i think tesla can play a role or i mean tesla’s um uh literal like reason for existence um i mean the reason i’ve i’ve put so much of my life energy into tesla which is a lot um in fact it’s i would say that i’ve had some some pretty tough life experiences and tesla’s responsible for probably two-thirds of

All all personal and professional pain combined just to give you a sense of perspective there um so this is a hella hard situation um but we we do solar commercial solar soil retrofit as well as the solar roof and we make a consumer battery packs called powerwall for houses and small businesses and then the utility scale which are gigantic these we’ve done now a

Number of of gigawatt hour installations like if that’s a lot that’s a lot um and a lot of them actually have been for load leveling the grid but mostly they are um and and combined with like big so like the one the first really big one we did which is um 100 megawatt installation in um in australia uh uh that’s actually helped stabilize a huge proportion of the

South australian grid um because it’s able to react so fast um in fact at first um because they’ve got a billing system in australia that i think works at the sort of millisecond level and we’re operating at the microsecond level so it was this was operating so fast that the measuring system couldn’t see it but um so so tesla’s certainly doing doing a lot to um

Uh enable renewables especially when solar um uh and in fact the limiting factor for us right now is cell production so we we need to uh both internally uh get our the tesla internal internal battery cells produced as well as increased supply from suppliers um and we’re generally when i talk to our suppliers they say what how many cells would you like us so how

Many cells can you make um you know because sometimes they’re like concerned like worse how’s it going to compete with them on sales i’m like no no if you want to make the cells be our guest it’s just that we need a crazy number of batteries um and they need to be done it also needs to be mined and produced and manufactured in an ethical and environmentally sound

Way so um you know tesla we really do aspire to be the good guys like you know to be a company that that people can can believe in it doesn’t mean we don’t make mistakes but that’s what we’re trying so um yeah but i think generally um hydro expressly existing hydro is is good for a mining uh geothermal there’s lots of places in the world that have geothermal

Energy um and um you know like nuclear is also good um so um yeah i think just just just like as i said earlier the expectation is not like that the the energy production must be pure as a driven snow but it it must uh it can’t be using it also cannot be using the world’s dirtiest coal which was for a moment there um so um you know that’s that’s just difficult

To for tesla to support in that situation so i think um i know but i do think long-term renewable energy will actually be the cheapest form of energy it just takes it just doesn’t happen overnight um but as long as that there as long as there is a conscious and and determined and real effort by the mining community to move towards renewables then obviously tesla can

Support that that’s great um kathy we’ve been talking a lot about energy but many institutions are facing questions around bitcoin’s relationship with esg um can you maybe speak a little bit more to what what is s and g in esg and how bitcoin might support those sure so e of course is environmental s is social and g is governance uh and there is a massive movement

Uh afoot in the institutional world especially uh to embrace uh esg and and make sure that their asset managers are are doing the same uh so if if you we’ve just talked about environmental and i i really do believe uh that bitcoin will be uh much more environmentally friendly certainly than traditional gold mining or the traditional financial services sector in many

Ways it already is uh and it’s just going to uh get better that way in terms of social i know that um many institutions when they are thinking of social they think of diversity and equity pay equity and all of that uh but uh if from our point of view the disruptive innovation point of view social is uh much more than that it is saving lives of course autonomous

Technology that would be another topic for elon but in this case uh allowing at access to payment technology as jack is is saying everywhere around the world without friction if you and just back to the remittance um example i think uh if if i’ve got these stats correctly you know there are certain countries in the world that are dependent incredibly dependent

On remittances for you know gdp uh to uh tonga 37 el salvador which just deemed uh bitcoin legal currencies 24 nepal 24 and i think the remittance industry globally and roughly 700 billion uh so uh saving people these ingredients just fees you know think about it you’re paying anywhere from eight percent to to as jack said 30 percent of your hundred dollars that

You’re sending back to your family uh that is uh social responsibility i i would submit as is just the uh economic empowerment that bitcoin will enabled we’ve talked about that already uh and i know that uh alex gladstein is going to be talking later about um you know the 4.3 billion people in the world who are hostage to authoritarian regimes or the 1.3 billion who

Are living in uh double digit and and triple digit inflation if not more um saving them from the destruction of their purchasing power certainly is a noble social goal so we expand social to be much more than uh the traditional esg community and then on governance you’ve got the transparency of the ecosystem uh you know uh it’s completely transparent unlike uh the

Opaqueness of financial systems and the toll takers in uh the traditional financial world and i think a huge part a part of governance in the bitcoin ecosystem is the are the bitcoin core developers now uh before i met them and i’ve had the pleasure and the honor of of meeting uh many of them uh you know that was that was a part of this ecosystem i didn’t understand

But actually getting to sit down and talk to them uh i if i if i uh have a learning curve need it certainly is on the technology side but in in terms of talking to them about economics economic theory failed monetary regimes uh historically they know economic history many of them better than anyone i’ve ever met so that gives me a great degree of confidence that

You know they they do believe they they’re on a noble mission they could be paid a lot more than they’re being paid right now if they worked at google or or facebook or some of these other areas but they’ve chosen you know um this sense of purpose for a noble goal and uh they have incredibly strong technology backgrounds uh so as well as a good understanding of

Economic history especially monetary uh history and it gives me a great deal of comfort as i think about the governance of the ecosystem uh much much more so than i i think we would find in other financial ecosystems uh and just to give you an example of that i think two years we were talking about a parent i mean not a parent there’s a big debate about reorganizations

I know in the ethereum that at work right now well we saw the the poor bitcoin developers and others at work uh back in 2019 when binance tried to reorganize uh in order to uh reclaim seven thousand uh bitcoin that were hacked and they just wouldn’t allow it so we’ve already had some very good tests of the bitcoin ecosystem including developers uh so that would

Be my answer thank you and it’s a great transition to the next topic area which is bitcoin ethos and what is bitcoin ethos i mean bitcoin was born as open source and it’s very transparent and there’s also a staunch defense from the community around decentralization and a lot of the core principles of bitcoin um so let’s talk a little bit about that and what makes

It special jack um square has done a lot to support uh can you tell us a little bit about what square has done and what advice you’d have for other institutions looking to follow in its footsteps yeah i mean i was i was very skeptical of corporations when i was a kid and i’m still skeptical of corporations today and you know as we’ve used corporations to be you

Know they’ve been great great vessels for what we need to do and the ideas that we need to bring to the world but um you know bitcoin is not that and when we were considering bitcoin and house square intersected i was really concerned with um how we don’t disrupt the community in a negative way how we promote what is amazing about it and how we help it grow in

That way in the way there wants to so we created your team steve which is square crypto which is hiring open source developers to work on whatever they want and whatever they think is most important to help bitcoin we’ve created an organization called copo which we gave up all of our crypto funds um so that the community can use them in defense against uh trolls

And um some some crazy characters we won’t name and um we continue to find ways that the following that bitcoin path we’re going to create a hardware wallet we’re probably going to do a lot more in hardware everything that we do in the space is going to be completely open source from the hardware design to the software taking in the community’s push and we’re

Building a developer platform as well in the same open development open for us and uh are completely transparent so i think as institutions or companies like ours consider getting in the space um i think contribution back to the community is important tesla did this um with accepting payments for tesla and finding security holes and improving the stock and uh

As i said before we can’t just see this as an asset that we own and i’m an investment vehicle and this was something that has the potential to change everything and make the lives of everyone in this planet better in some small maybe marginal way but those margin those margins will be meaningful as they compound over time great um elon you’ve tweeted before that

Any wallet that doesn’t give the user their private keys should be avoided at all costs um can you tell us more about what why is that important and and you know how does it what’s its relationship with decentralization well to say that if you uh own crypto in an exchange and the exchange does not give you a private keys it’s not clear that you own anything i

Mean if if there’s something if that exchange breaks or is hacked or uh you know um or or is subject to procedure by the government or something like that uh you you don’t your group your crypto is gone um so in order to actually have a properly decentralized finance you uh which i’m a fan of um i think it makes sense uh then you you have to own your your private

Keys um and you should be the only one who has your private keys so if you’re the only one who has the private keys then then you own it um if you if someone else has your private keys effectively they own it too um and your yours the security of your crypto is then dependent upon them or any entity that can affect them so uh yeah um i i think what jack’s doing

Said sounds like a good idea to have um you know a hardware wallet that uh that’s that’s the only thing that contains your private keys um i think that that’s like in in terms of sort of empowering the people which i very much very much believe in then i think you want to have people have the their own wallets and uh and be the only ones that that have the private

Keys does that wallet so it’s not called wallet the other side of the of the crypto laughs i think we’ll see an emergence too of new solutions

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Elon Musk: Tesla Cybertruck fully redesigned, new Tesla announcement – LIVE, Tesla CEO, Elon Musk By UsmanliveBroadcastDetails{isLiveNowfalsestartTimestamp2022-10-05T161326+0000endTimestamp2022-10-05T163157+0000}