Assalamu alaikum, everyone. I hope you are doing well. Today is Friday, October eleventh, and of course, we're going to talk about Tesla. We're going to talk about the Robotaxi event some of the highlights of that event and we're actually going to share some video I'll comment on it while we're watching it and hopefully it works I did try and test it out before we went live so hopefully it ends up working let me know if you there's any issues with the sound When we get to that part, and if not, hopefully we can start using video more often in this live to make it even more interesting. Before we go into Tesla, let's just take account of where we are. By the way, Tesla, I'm sure many of you are aware, is down seven and a half percent today. Uber is up. if we look at the last five days see uber up uh fourteen percent that's what I'm showing you guys here in the chart and uh tesla so uber's up fourteen and a half percent in the last five days tesla's down uh more than ten percent in the last five days we'll talk about uber in this live and we'll try and make a rational assessment of whether we think the future is going to be Uber dominated or Tesla dominated as it relates to ride hailing and getting a ride from a third party, if it makes sense to do so. And before we get to that, we're going to talk about macro like we always do. By the way, I saw the comment Abdullah saying, like the live if you are worried about Tesla. Like the live if you're worried about Tesla. Like the live if you are not worried about Tesla. I'm not worried about Tesla. Spoiler alert. But I will say that, you know, there were some things that were missing from the presentation yesterday. I try to be as objective as possible regardless of... you know, what I'm holding and, uh, whatever stance I have. And that's, inshallah, what you'll get from me in this live. If we look at the Dow Jones, NASDAQ, S&P, Russell, all in the green today. So that is looking good for us. And we have a lot of positions that are up very nicely. So Bitdeer is up six percent. Iron is up three point four percent. HEMS is up. PLL continues to grind its way up, has been a big winner for us. And and basically only Tesla is down today. And so we'll talk about that. But the point here that I'd like to make is you'll never be in a position where all of your positions are going up at the same time. Some will go up and. And some will go down on any given day. And your job as an investor is to make sure you take profits, recover principal from those positions that are going up when their time has come. And if you are still convinced with the positions that are going down, maybe rotate into those positions. I think that's the smart way to do these things. And just like a lot of positions we've held, we ended up holding them for a long time before they really paid off in a big way. I think the same will be true for Tesla. So let's talk about the numbers that we got here for the PPI. And they were really bullish, and I think that's what the market is responding to. Previously, in the previous month, we got an increase in PPI of point two percent. This time around, the forecast was point one. And the actual. Beat it. So factory gate prices in the US were unchanged in September from August below the previous month's point two percent uptick and lower than the forecast of a point one rise. So this is very good for asset prices. It kind of offsets the higher than expected CPI that we got yesterday. Prices for services increased point two percent after rising point four percent in August, led by a three percent increase in the cost for deposit services. We also got the Michigan Consumer Sentiment Report out today, a little softer than expected. So we got sixty eight point nine forecast was expected. And this is basically telling you what consumers are feeling right now and what consumers expect to feel in the future as it relates to their finances. Previously, the reading was seventy point one. So the University of Michigan consumer sentiment for U.S. declined to sixty eight point nine in October twenty twenty four from a five month high, which was last month of seventy point one in September and below forecasts of seventy point eight. Preliminary estimates have shown both the current condition. and expectations weakened. So our feelings or consumer feelings about the current conditions and expectations for future conditions as their late state economy have softened a bit this month although the market seems to be reacting in general quite positively to what we saw so if we look at our map here of winners and losers we can see that you know most everything is in the green With exception to Tesla, as we mentioned, and we'll talk about that and why we think that happened. So let's get to what I hope will be a good sort of watch along, me and you guys, of the Tesla CyberCab event. rather than me telling you we'll show you guys and uh hopefully it is it goes off without any issues so All right. Now, if you can hear the, and I'm sorry if I blow up your speakers, if you can hear everything is good, then leave a thumbs up. I'll just need two or three thumbs up to know that the audio is good, inshallah. It's that future. So what we were seeing initially was the cyber cab. It looks a lot like, well, in a lot of its features, it kind of looks like the cyber truck. I've kind of gone back and forth on how I feel about the cyber truck. Sometimes it looks cool. Sometimes it doesn't. So I understand the split there. As it relates to the cyber cab, I actually think it looks really cool. That being said, I'm not really sure why they went with no windows on top for the cyber cab. It's closed on top. Perhaps that's a manufacturing consideration. As you can see, I just arrived in the Robotaxi, the cyber cab. There's no people in them, as you can see. The car's just going by with no people. So you'll see Model Ys and the cyber cab all driverless. There's no steering wheel or pedals. This is very important to mention. The cyber cab, it seems it is designed for two passengers. And the reason why they designed it for two passengers is that it turns out that ninety percent of Uber rides are for one or two passengers. So ride hailing, typically it's one or two passengers. What's really important here is that Elon Musk mentions that the Model Y and the Model three will get full autonomy by next year. Obviously there's, you know, there may be in Texas, in California, there may be some delays in that, but the Model Y owners and Model three owners, since the, uh, the, uh, cyber cab, robo cab, whatever you want to call it. Since it's geared towards two passengers, the Model Ys and the Model Threes, if they are added to the network, can handle then the rides that involve more than two passengers or need more space. But by the way, the The space in the trunk for these cyber cabs is quite big. So if someone's going to the airport, for example, they'll have no problem fitting their luggage in the back here. So I hope this goes well. We'll find out. So we'll move from supervised full self-driving to unsupervised full self-driving, where the car, you could fall asleep and wake up at your destination. But there's also a challenge for a lot of people that cars cost too much. I mean, when you factor in everything that goes into a car and the car insurance and the car payments and the storage of the car, it's very expensive. So with autonomy, you get your time back. This is a very big deal. So it'll save lives, like a lot of lives, and prevent injuries. I think we'll see autonomous cars become ten times safer than a human. And it's not just the lives saved in injuries, but if you think about the cumulative time that people spend in a car and the time they will get back. So, in fact, I think the cost of... And it's not just this, really. I think one of the, if you look at surveys, one of the main sources of stress for people in their daily lives is driving. And so if autonomy becomes widespread, becomes cheap, very accessible, one of the major stressors in people's lives will be removed because you don't have to worry about someone who cut it off. You don't cut you off in traffic. You don't have to get worked up about someone else's driving because you're not doing any driving. You don't take anything personally. So I think this is another big benefit to autonomy. And also, as it relates to saving time instead of driving, being able to do something else, what's very important here is that And not only are you saving time, but you're also adding time to the usefulness or the useful time of your vehicle in case you buy a cyber cab. And they did mention that cyber cabs would be available for purchase. So it won't just be Tesla. operating a fleet of cybercabs, you can invest in a cybercab and actually have it as an asset that's generating cash for you. That's the plan. And also, if you already own a Model Y or a Model three, you can add to the usefulness of your car by enabling it to deliver rides when you're not using it. So there's a lot of value and cash generating opportunity with a cyber cab fleet. And it's going to make, I think, our lives a lot better, inshallah. autonomous transport will be so low that you can think of it like individualized mass transit. The average cost of a bus per mile for a city, not the ticket price, because that is subsidized, but the average price is about a dollar a mile. Whereas the cost of a cyber cab, the operating cost is probably gonna be around twenty cents a mile. So yes, and you will be able to buy one. We expect the cost to be... So this is very important that we'll be able to buy one. I think this will enable Tesla to grow its fleet very quickly through using other people's money. Through other people buying the car, they will be able to grow Tesla's fleet for it. And Tesla will make money on those cars that it sells after they sell them this is very unique to this company by the way what are you guys thinking about the the aesthetics of the cyber cab do you guys like it I I think it looks really cool and futuristic and you know unlike the cars that we see on the road and I think it looks a lot better than the cyber truck but I'm interested in what you guys think what do you guys think of of the cyber cabin, would you buy one? Below thirty thousand dollars. We do expect actually to start. He's saying below thirty thousand dollars, but I don't think it's going to start below thirty thousand dollars, by the way. I mean, his predictions tend to be very optimistic, but I'd be very surprised if it starts below thirty thousand dollars. With everything included, it's going to be at least forty thousand. Fully autonomous. unsupervised FSD in Texas and California next year. This is huge, I think, for Model Y and Model Three owners. And by the way, Tesla has offered zero percent APR on Model Ys and I think Model Threes as well. right now and so I think there's a big incentive if you think unsupervised fsd is coming to texas and california there's a big incentive for consumers in those states to take advantage of this offer zero percent apr a lot of you know there's not a lot of car companies offering zero percent apr and by the way if you're you know a lot of conscious consumer that's a great opportunity to actually But you have to actually buy FSD. So to be honest, that's kind of a turnoff because FSD, I think last time I checked was priced at eight thousand, but you can buy or subscribe to FSD for just one hundred dollars a month. So. I think the subscription makes a lot more sense. So with the caveat that you have to buy FSD, it becomes less of a good offer. But I mean, if there's unsupervised FSD that is coming and you think that it is coming within the next, let's say, twelve to eighteen months, then that becomes, you know, it might be quite worth it, the price of the FSD that is. That's obviously, that's with the Model Three and Model Y. We expect to be in production with the CyberCap in probably, well, I tend to be a little optimistic with timeframes. But in, in, in twenty twenty six, before twenty twenty seven, let me put it that way. Well, before that, you will experience a robotic taxi via the Model Three and Model Twenty six. Before twenty twenty, probably Well, I tend to be lying. We, we expect to be in production with the cyber cap, uh, in probably, well, I tend to be a little optimistic with timeframes, um, but, but in, in, in. Okay. So he said we expect to be in production. Does that mean mass production or just we're producing? I mean, technically they did produce some for this event, so I'm guessing he means mass production in . a robotic taxi via the Model Three and Model Y program and Model S and X too. You will experience a robotic taxi via the Model Three and Model Y program and Model S and X too. And it's Cybertruck too. Yes, of course. Sorry, I don't want to forget. Yes, yes. All our cars, basically. All cars that we make. Let's not get new ones here. All right, next slide. By the way, that's how your laugh sounds when you're very, very rich. Besides that, the solution that we have is AI and vision. So there's no expensive equipment needed. And that means that our cost of producing the vehicle is low. All right. All right. And this is a key point here when we're going to compare with Uber. Uber is doing some work on autonomy with Google. And Google, with their Waymo program, they rely on LiDAR. Very expensive. equipment needs to be added to a car. So you have the price of the car and then you have the price of the autonomy equipment that needs to be added. Tens of thousands of dollars in equipment needs to be added to any car to make it autonomous. And so whereas Tesla is envisioning a future where the price per mile drops to something like twenty cents a mile compared to what it is right now, if you're just talking about a regular Gas powered car, talking about around two dollars a mile, twenty cents a mile. With autonomy, it's actually that Uber is suggesting that it's working on with their LiDAR and their collaboration with Waymo. It's actually going to be more expensive. This is very important to understand what exactly the opportunities are here for both companies. So our autonomous future is here. As I said, we've got fifty Teslas driving autonomously. Something we're also doing is, and it's really high tech. Guys, if you're liking this video format, I noticed we're close to a hundred watchers. If you're liking this, then please leave a like. I'd really appreciate that. And we did this is inductive charging. The Robotaxi has no plug. It just goes over the inductive charger and charges. That's really cool. So you'll have basically no contact charging. This is something that, you know, not to say that, you know, plugging in was any burden for current cars. But if you want a truly autonomous fleet, then you'll need a way to charge without charging. getting the help of anyone and so this is very important another layer in their technology stack that builds a moat around their fleet that other companies don't have And by the way, we're not talking about NIO in this live, but this does bring to mind NIO's investments, very extensive investments in their battery changing stations where they swap out a battery for another and it takes less time. When you have inductive charging, so you don't have to get out of your car to charge. And with the developments in battery technology and charging times going down over time, that investment is just going to be a waste of money, I think. is how will this affect the cities that we live in? So what would happen if you have an autonomous world is that you can now turn parking lots into parks. We're taking the in-lot out of parking lot. That's really cool, actually. No one likes to see parking lots. They're an eyesore. They take a lot of room. They're often very underutilized. But now they can become greenery. potentially, and increase the quality of life for people living in cities. That's really cool. There's a lot of opportunity to create green space in the cities that we live in. The evil laugh. Also, what happens if you need a... Okay, this is something I have to call out. This doesn't look good. This looks like... a vacuum on wheels. This doesn't look good at all. So maybe it's too late for this design to be scrapped. But I was very underwhelmed with this design. Whereas with the Cybertruck, I've been going back and forth on whether I like the design or not. This stinks. I didn't like this design at all. ...vehicle that is bigger than a Model Y. This is what I expect in the future street cleaners will look like. If you have brushes on the bottom and it could go over a street and clean it, that's a good design for that. But for transportation, public transportation, I'm not sure I like it. look like that now can you imagine going down the streets and you see this coming towards you that'd be sick also guys look at the the distance to the ground here I'm not like is that even perhaps it perhaps it lowered itself I don't think it lowered itself actually when dropping off the passengers but I'm not sure like how does this go over a speed bump it doesn't seem well designed for that. But then again, I'm sure they thought of it. So perhaps I'm jumping the gun here. It can carry up to twenty people and it can also transport goods. The Revolvin is what's going to solve for high density. Everything we've developed for our cars, the batteries, power electronics, the advanced motors, gearboxes, the software, the AI inference computer, it all actually applies to a humanoid robot. the same techniques. It's just a robot with arms and legs instead of a robot with wheels. By the way, perhaps the thing that most impressed me about the presentation yesterday, the event yesterday, was not the focal point of the event. It was the Optimus robots that they revealed and how smooth their movements have become. there there have been videos of interactions with the optimist robots and they seem very lifelike they seem like the conversations with them is it's as if you're talking with a human so I wonder if they were actually controlled by humans it just seems too human especially when you compare it to you know something like siri but if if it was actually a robot and the conversations that were being had were with actual you know ai that's that's by far the most impressive thing about this event and we've made a lot of progress you're really going to have something spectacular something that anyone could own at scale the This would cost something like, I don't know, twenty, thirty thousand dollars, probably less than a car is my prediction long term. So and what can it do? It can it'll be able to do anything you want. So it can be a teacher, babysit your kids. It can walk your dog. By the way, don't let a robot babysit your kids. I'm just putting that out there. You know, have an actual soul babysitting your kids and. Mow your lawn, whatever you can think of. It will do. I think this will be the biggest product ever of any kind. There's going to be. I mean, I have to agree. I think that everyone is going to want one. If you have a helper, you can basically assign to them all of the. labor in your life, and perhaps a lot of the thinking as well, then everyone's going to want one. Everyone's going to want a helper. So I think the demand for it is going to be infinite. And the fact that Tesla has both the AI and manufacturing skills to bring this to market probably in the fastest time and I'm not gonna put a timeline on it I don't know how long it's going to take but it does have the most resources most manufacturing expertise most ai expertise under one roof to to win this competition makes the opportunity for tesla quite large. Maybe two. And then they'll be producing products and services. It will be an age of abundance, the likes of which people have not, almost no one has envisioned. It'll be something special. Let's party! All right, so that was the event in a nutshell. And the reason why A lot of investors didn't like that. The reason why the stock is down today, well, two things I'll say. First, there are some investors that were going to do the buy the rumor, sell the news trade, regardless of anything. So they were just in Tesla because of this event, and they were going to buy Tesla. And they were going to sell after the event, regardless of anything, regardless of what they revealed, what they said they were going to sell. And so that put pressure on the stock today. Also, what put pressure on the stock is the fact that there was little in the way of details. We were hoping for something more concrete in terms of a timeline. And perhaps an app where we can expect this is when it's going to launch. These are the economics. We've figured this out. This is what we think it's going to contribute to our bottom line. Here are a number of different scenarios in terms of cash flow for the business. And this could be translated then to valuation for the company, added market cap for the company. That's what investors were looking for. That's what we didn't get. We got demonstrations that went well. And we got... Actually, I think impressive progress as it relates to Optimus. But we didn't get any numbers. We didn't get any dates. So there was a real lack of specifics here in the event. There was general ballpark estimates when we're going to go into mass production for the CyberCab, ballpark estimates for what everything's going to cost. but not much beyond that. Now, having said this, what other company has a future product lineup like what we just saw? Did you see the Apple event, the event that they did recently? It was just like, oh, well, now you can use your AirPods as hearing aids and you can just, you know, basically make a conclusion about how much older, you know, Apple management is getting or where, you know, where the mind is as it relates to Apple. to new features. Thank you, Ahmed Bashir. I appreciate that. And yes, inshallah, I will go through the questions in the comments. Do leave a like, guys. I really appreciate that. And I do want to show you guys a video of the Optimus bot interacting with the crowd. Now, whether or not this was tele-operated, I don't know, through some augmented reality goggles or something like that, I'm not sure, but the movements of the robot have really advanced a lot since the first generation of Optimus. And you can just extrapolate from that, what are they going to be able to do next year and the year after that? And then at the end, I'll talk very briefly about Uber and what I think about them as a company and how they compare to Tesla. By the way, if you're interested, let me share with you guys. If you're in the market for a car, Tesla is advertising zero percent APR with purchase of full self-driving for models three and model Y. So And let me look for you. How much does the FSD cost? So the same long range rear wheel drive, four and a sixty eight per month if you're financing it, but that's with around four thousand down. This is five twenty nine APR for seventy two months. includes incentives of seventy five hundred so in in the united states at least you'll get seventy five hundred towards your purchase um full self driving is eight thousand dollars so if you if you add eight thousand I'm just gonna, okay. So the estimated payment is seven, seven, twenty one per month. That's zero percent APR, four thousand down. And that's for seventy two month. And this includes destination and order fee. After after the federal tax credit, after the seventy five hundred, that's five hundred and ninety six per month. So you could get FSD. could get full fsd zero zero percent apr for seventy two months you could get a model y for six hundred dollars a month that's not bad guys I mean I don't know what you guys think but that seems quite reasonable and you get the possibility of full unsupervised fsd in the next, let's say, twelve to eighteen months. So, yeah, that's not bad, guys. I think a lot of people are going to take advantage of this, especially in California and Texas. And perhaps that translates into healthy numbers for the company. By the way, Tesla reports its earnings October, so there is that. And so if we get, you know, a better, a more detailed outlook forecast from the company, uh, that could cause the, cause the price of the stock to recover. Like I said, I don't think there's any reason for panic. I don't think there's any change in the thesis for the company. We still believe that they have the lead in autonomy. We still believe that they have the lead in Optimus, although that's further out. So whereas the autonomy opportunity will likely be priced in at the earliest over the next twelve months, maybe over the next twenty four months, the Optimus opportunity will likely start to be priced in twenty four months plus. So we still think that's the case. We still have their energy business that is growing really well, although their latest update fell a bit short of expectations, but that's their highest margin business currently. That's growing really well. Let me show you guys very quickly the conversation with the Optimus robot. So... And this I thought was super impressive. All right. We say that much. I'm very sorry. Did you all want to say a joke? Yes. We'd love a joke. All righty. Let me think. what's a bot's favorite drink you would think it would be oil but actually so unless they got in a poor intern and convinced them to sever their legs um there's no one in this suit so this suit we know this is robotic okay and so the movements that the optimist is making are purely mechanical. There's no one in there. And so the movements are quite smooth and impressive and very, I think, almost human-like. The conversation is very human-like and that's getting very suspicious. I wonder if this is teleoperated or not. That being said, I didn't hear any ahs or ums coming out from the robot. There was no... And believe me, I know when it comes to ahs and ums, it's very hard to completely cut them out from your speech. I try all the time to cut them out. So, yeah, there is that. But I will need confirmation from Tesla itself saying that this was actually... AI that was talking and not someone that was teleoperating, the optimist. Oh, and I should also mention that There are a number of optimists over there, OptiMai, if you will. This one is number thirty seven. And in all the conversations I saw with the different OptiMai, they all had the same voice. They didn't have different voices, which kind of leans towards the maybe this was AI. Are you powered by Grok or how are you interpreting our questions right now? Well, I can only answer so much. I do only have a set amount of things I can say. Fair enough, fair enough. That's interesting. So he dodges the question about if he's powered by Grok, the AI that X uses. So that leads you to think, oh, maybe they're not powered by AI. They're not confirming that they are powered by AI. But then he says, there's only a set number of things that I can say. Maybe that's referring to restrictions that was put on what he is allowed to reveal. We respect your privacy. Do you do any work at the factory? Thank you. Any job that I'm set out to do, I will complete. How many hours can you work for? As long as my charge will take me. I know I've been in production for a while, but actual needs are kind of untrue. If you have kids, you probably know who I'm talking about. Sounds like Blippi is controlling this Optimus. Anyway, I thought the progress that they were making so far in terms of Optimus was quite remarkable. If you extrapolate the progress that they've made, I think that You know, it's quite bullish for the company in terms of their capacity to develop their robotics. So let's look at Uber, which was up today. So let me show you guys. So let's talk about Uber a bit and what I think about the company. Again, Uber is up, Tesla is down today. Uber is up because, largely because Tesla is down and there was no date set in the future for when Tesla was going to really start competing with Uber. So I think with regards to Uber, one of the main, problems here yes it did reach profitability but let's look at their profit margin their profit margin is five percent so they have a very narrow narrow room for error and to be honest Every time I use Uber, my impression is that's kind of expensive, whether it's Uber Eats or Uber for transportation. Every time I use it, it's like, man, that's really expensive with the tip that you have to give the driver. So, you know, unless they get into a different business, I don't see how this profit margin improves that much. And then when you add to this the fact that their approach towards tackling autonomy and future transport will be autonomous, inshallah. When you add to this the fact that their approach to autonomy is a very expensive one and one that is not profitable in the least and won't be profitable, I don't think it can be profitable with LIDAR. The solution that they're chasing will never be profitable. then the outlook for profit margins here seems kind of bleak now it has made progress so if you look at their if you look at their adjusted ebitda that's earnings before interest taxes depreciation and amortization they have improved so if you look at you know, the highest EBITDA they've been able to achieve, but that's just two point nine percent. That's that's really close to not being profitable at all. That's really close to losing money. Too close for comfort, in my opinion. And when you when you're talking about, OK, well, maybe they come out with know new investments new product lines new technologies that enable them to achieve better profitability there is a problem with that and that is their balance sheet isn't that strong in a way that would enable them to you know pivot to something that's more profitable without diluting shareholders, without taking on even more debt. So if you look at their balance sheet, total cash here in the most recent quarter, six point two nine billion. But their total debt is eleven point three billion. And so they have almost twice as much debt as they have cash. So their opportunity and they're not really that profitable. So it's not like they're churning out huge amounts of cash. So their opportunity to pivot into a better, more profitable, easier to make money line of business is limited. Now, when you compare this with Tesla and Tesla has gotten beaten up because of. you know margins declining as of you know but actually the most recent quarter saw margins improving again but their profit margin is thirteen percent and I think it will improve as more and more of their business becomes software related, wherein the margins or every added sale basically flows directly into their bottom line, their total cash is thirty billion and their total debt is twelve billion as of their most recent quarter. And they're already in going in the right direction in terms of technology. So they have a stronger balance sheet. I think their approach is the more correct one when compared to Uber. They're more profitable, they generate more cash. And so when I'm trying to figure out, okay, my thesis is that the future of transport is autonomous. Right now, know the leader in the space in terms of ride hailing is uber do I think this is going to extend into the future that is autonomous it seems to me that tesla has a better opportunity uh more is more probable to become the leader in ride hailing in autonomous driving than Uber, not only because of its current direction, which is the right one from a technological standpoint, but also because it has a stronger balance sheet. It's able to make more investing investments into R&D. It already has mass manufacturing. It's already generating a lot of cash. And so it's clear to me that the future belongs to Tesla, even if the current is uh uber the current leader is uber and so yeah today the market is more bullish on uber than it is tesla but the market doesn't always get it right and the market is often near near-term focused and so you know maybe there's a trade here but you know if you're a longer-term investor then I think tesla is the better bet That being said, it's not necessary that's going to be an easy hold and perhaps it's not the fastest horse out there, at least in the near term. But there's a lot to be excited about this company and perhaps their product lineup, their future product lineup is more exciting than any other company I can think of and more impactful than any other company that I can think of. I don't really think that its valuation as it stands is unreasonable. I think it is in line with the expected growth and in line with the expected future product lines that it intends to introduce. So that's my take on Tesla's event. And I want to emphasize this again, which is that we are contra investors. This is how we make money. We look at stocks that are not doing well. And we try to ask ourselves, is this legitimate? Is this fundamentals based? Or is this an opportunity to add more? And we looked at PLL in that light for the longest time and PIF members were accumulating PLL for a very long time. Alhamdulillah, right now, I think a lot of people are between fifty and a hundred percent up on that position. And for the longest time, it wasn't doing anything. And then all of a sudden in a month, it does more than a hundred percent. And I think we could get something similar with Tesla. After all, you know, there have been extended periods of time where the stock doesn't do anything. And then in twelve, twenty four months, it does a ten X. So. We're not going to have a a situation where all of our names are going up at the same time. But look, alhamdulillah, Bittir is up seven percent today. So but inshallah, we will have. You know, our thesis play out over time for all of our names, inshallah. And when it does, we take from the profits that we have in some positions and we rotate to the other positions that have been sleeping on us. And so today the question to ask yourself is, and this is not financial advice, this is how I think, and I'm just thinking out loud. Today the question to ask yourself is, well, if I like the stock at, let's say, two forty or two thirty, do I like it now when it's at two twenty? And should I be thinking about buying since everyone seems to be so bearish on the stock today? this is where you end up making your money is when you buck the herd and you do something that is not necessarily popular at the time, but is backed by fundamentals and backed by your thesis for the stock. And I think for Tesla, my mind is, well, is today a good day to be buying or not? Not whether or not I'm going to sell it. And so I hope to impart this mentality onto you as investors because I really think that this is the key to doing well and investing over time is to have the courage of your convictions and to when you do have a conviction when you have done your due diligence about a certain name to look at pullbacks in price as opportunities. And, you know, you don't have to go too far into the past to remember when HIMS got hit with, you know, the news that the shortage on Eli Lilly's products were were no longer and hymns got a hit from that I was down probably as much as tesla is down today maybe even more and I told you guys I I think hymns is you know a longer term play It's going to recover, inshallah. And the next week it did. Sometimes the recovery doesn't happen the next week. Sometimes it takes longer. But that's what makes investing fun and interesting. If it was instantaneous, then it would become easy. But because it requires patience is why many find it hard and why many lose it. money and end up making the wrong move then I don't want you to be one of those people all right so we got a lot of questions I really want to thank all of you guys for for adding your thoughts in the comments this is what makes a community what makes a conversation I don't think I'm going to be able to go through all of them but I will go through inshallah some of them so let's go all right so by the way everyone thank you for coming but if you haven't left a like do leave a like I'd really appreciate it if you haven't joined our pif community yet do join our community and become a member link to do so is in the description subscribe if you haven't subscribed and hit the notification bell so you know when we go live next amir says Do you think PLL and Iron will break their all-time highs in this bull cycle? I think Iron has a greater chance than PLL. I don't think PLL will break its all-time highs. Salaam all. Like the live. When do you see the next Tesla recovery in six months, one year? Will the competition win the race? Hopefully I've answered that. precious metal miners and whether I'm interested in them I look at precious metal miners like I look at Bitcoin miners. They're basically a leveraged play on whatever the heck they're mining. So if they're mining material and that material goes up in price, they're likely to do better than what that material did if you had bought it directly. Because the difference, because mining is, there's a lot of fixed costs associated with that. So when the price goes up, for what is being mined that flows directly to net income. But generally speaking, I'm not that bullish on rocks and minerals. And so I'm not really interested in mineral miners. Why not have physical gold stash as personal reserve? I don't think it's a bad idea to have gold. Especially if you're married, you want to buy your wife something nice, but you don't want to buy something that just depreciates in value. Gold is a good gift. If you're a wife and you're watching this, I think that really deserves a like from you. And encourage your husband to watch my live. Taskeen says, Assalamu alaikum. Was wondering if you can clarify what it means when a company exercises and closes and what are the pros and cons? I find it very confusing. For that, Taskeen, I think perhaps the Discord would be a good place to ask that question. Okay. Injective, what's the halal rating for injective? I think injective does a lot related to related to finance and defy and if I'm recalling correctly and perhaps has a lot related to interest bearing activities so I stayed away from it the last time I looked at it better than cyber truck yeah no doubt I like it Let's see how China will respond to this event. Well, hopefully that they don't invade anywhere. That would be bad. I think that would be an overreaction. And that says, I like to see parking lots. Okay. Interesting take. Do you think Waymo or Uber can sell the technology to other automotive companies and reduce the cost of LIDAR with mass production? well I don't think producing lidar is in their circle of competence or is I think the current producers of LiDAR have mass production of LiDAR, and it costs what it costs. So vertical integration with regards to producing their own LiDAR, not going to be easy. I'm not sure how much they can reduce the cost. They may be able to reduce the cost somewhat, but it's going to add another layer of complexity to their manufacturing process. They probably won't do it. Because I think they'll realize that vision-based autonomy makes a whole lot more sense than LIDAR. Our roads are designed for vision. And so navigating these roads, they're not designed for LIDAR. And so if you want to navigate these roads successfully any place on the planet, then vision is the way to do this. LIDAR is not. And Waymo and Uber may do all the testing in the world in San Francisco and claim that they have autonomous ride hailing that is not economically viable, that's losing money and I don't think will become economically viable. But then... that doesn't translate to, you know, the back roads in a village in Argentina. But vision does. And so they're going to have to manually go city by city to make sure that they're accounting for all the differences. And that's just not going to scale well. Vision will scale well. So I think fundamentally their approach is wrong. Looks like he did a collab with Dyson on the robo van. Yeah, I agree. Yeah, so Ahmed says, you should check out GPT, very fluid, natural conversations, both in content and tone. Yeah, I think what was surprising to me was the speed of processing for the robot. It seemed on par with, you know, are you talking with just a natural person and also there were a lot of inputs that were coming at it at the same time people were talking over each other and it was able to deal with them deal with the audio that it was receiving as if it was you know as if it was a natural person I understand with gpt and processing of text that it can do that uh very very seamlessly, but I haven't really seen another robot. Certainly, if you compare it to something like Siri, it was much more fluid than that. But I do agree, GPT is quite impressive. I do think that Optimus produces a lot of problems in terms of in terms of using them for warfare. And I think that's something that needs to be addressed. I can only imagine what something like that in the hands of Israel would mean for humanity, not just its neighbors. So it's definitely something that hopefully It will happen. I mean, in the future, it's going to be fought by robots. I mean, right now, we're already getting a taste of that with drones. The age of the fighter pilot is over. It's drones. And this will move to ground forces as well. There's just no escaping this. I'm wondering if inductive charging would be fast enough. I think it'll start probably on the slower end and improve with time, but I think they'll get there. The issue with Boston Dynamics, they have impressive robots. The issue with Boston... And by the way, I think the... slope of Tesla's development of its Optimus robot is way steeper than Boston Dynamics. I mean, Boston Dynamics has been working on its robots for decades. Tesla has only just started. But the issue with Boston Dynamics is that they don't have mass manufacturing and they don't have AI like Tesla does. So I don't see Boston Dynamics as necessarily a necessarily competition. Yeah, I agree with the point you made next about mass production. So John asks an interesting question, which I think is actually bullish for Tesla. So he says, Salam brother, I've seen several reports about major manufacturing scaling back their full EV plans. Do you think the recent stock dip is more about the broader EV sector? I actually think that that's actually bullish for Tesla. I think that major manufacturers have found that they just can't compete with pure EVs. It's just not profitable for them. They can't make them profitably. And so they've scaled back their plans. And essentially they've given up. And so those manufacturers who have scaled back plans on EV will not make it over the long run. That's my pleasure, Bassam. I'm glad I was able to answer your question. Thanks, Ahmed Bashir, again. I appreciate it. Is it a good idea to buy more Tesla stock now? I think if you have a longer-term time horizon, then I think it will do well. I know I've been saying this for the longest time, and I know Tesla has been a lagger for the NASDAQ. I understand that. And it's been a big part of our growth portfolio and it held our growth portfolio back. Even despite that, our rate of return, our money-weighted rate of return, so that takes into account the timing of our buys and our sells, is above a hundred and thirty percent. So even despite our biggest position, you know, not performing, we still have done well. But I think, you know, patience is key here. Eventually, it'll do well. Yeah, and as it relates to Musk, the person, I always, like, I have to remind myself that I'm invested in the company. I'm not invested in him as a person. He owns a small percentage of the company. Well, not small, but a lot less than half the company. It's less than twenty percent of the company. And ultimately, I think the company is a net positive for humanity. I think autonomy is a net positive for humanity. I think, you know, optimists will create a lot of value for a lot of people. hopefully enable them to spend more time with their families and do more things that they like to do, and perhaps, I think, usher in an age of abundance in terms of goods and services. So I think it's a net positive for humanity. I do think there are a lot of pressures on Elon Musk to act in a certain way, but I also think that he's just a misguided person, and he didn't have the same... fortunate upbringing that a lot of us had where you know we were taught you know the right things his father was actually quite quite morally corrupted and so he didn't really have much guidance as a younger person that being said there's no excuse to some of the comments he's made But I just don't see his actions as adversely affecting Muslims. In fact, I think that his actions have been on the net positive. For example, Starlink and the opportunities that Starlink now brings to Muslims. places like Indonesia and access to internet in very remote places and the added income that people can get from that, I think is very important. So as a net, in terms of his actions, I think they are positive. In terms of his comments, definitely not. I think him as a person, from a moral perspective, he's very misguided. But I think... Ultimately, we are investors in the company, not in the person. And so long as I feel like Tesla is a net positive for humanity, and I do believe that, then I'm comfortable investing in it. And I hope this live was, I think we broke a record for length of live. I hope it was useful for you guys. Do leave a like if it was useful. And if you like these longer lives and sort of conversation-like, I really enjoyed it. I really had fun. And thank you all for coming. Thank you for your comments. Thank you for your likes. Thank you for all the PIF members that make this possible. It wouldn't be possible without you. Enjoy your Jummah and enjoy your weekend. Until next time, Assalamualaikum and peace be upon you all.