Good morning, everyone. I hope you are doing well. By now, I'm sure you've heard of the falling out that happened between Trump and Elon Musk in a very big way, in a very public way, and the negative impact that that has had on one of our core positions, which is Tesla. I would like to start with this, I think, pretty good explanation of why it was sort of inevitable that that Trump and Elon Musk would eventually butt heads. So let's listen to Thomas Massey. He's one of the few really decent people left in government, unfortunately. Predict this falling out back in March when things were hunky-dory between the two. That's a real untold story here. And I think we may be on a collision course. Like I think there's three cars coming together at an intersection and they don't realize they're gonna hit. And one of them is Congress with Mike Johnson driving. is in one of these cars. Trump, obviously, is one of these cars. Maybe he's the train. And then there's another car, which is Doge. And I don't think Elon Musk is going to suffer these fools once he finds out how foolish they are or duplicitous they are. You don't land rockets backwards. You don't get cars to drive themselves on the interstate by ignoring the fools that you're working with. That's a real untold story here. I think that that was actually some amazing foresight by Thomas Massey. And he is correct. This, I mean, hindsight is always twenty twenty. I think in the back of my mind, I knew that this was eventually going to happen. I just didn't think it was going to happen in the way it happened in the past. severity it happened today and unfold and how quickly it unfolded. But the fact of the matter is the administration is very low on delivering. It's very high on talk. And Elon Musk is all about delivery. you can say what you want about his politics but the fact of the matter is that the things that this person has been able to accomplish through the many companies that he leads is nothing short of remarkable so let's retrace our steps here so what exactly happened so Basically, Trump passed legislation that is going to increase the deficit in the United States. It's going to increase our debt burden that everyone agrees is already unsustainable. And I think Elon Musk... has come to the conclusion that basically we have maybe one or two more chances like this. in terms of the level of spending and the spending bills that get approved. Maybe we have one or two spending bills that we could approve that increase the deficit before things start to break. And so he found it necessary to speak up, even if that means it's going to cost him his relationship with the president. And so that's exactly what he did. Before I go into the details of today's story, we are running a thirty five percent off Alta. promotion for PIF membership. Be sure to take advantage of this promotion. If you've been sitting on the sidelines waiting to become a member, now is your chance to do so. Thirty-five percent off until the end of Eid al-Adha. And by the way, Eid al-Adha Mubarak to everyone. Those who are fasting today, may Allah accept your fast and do make dua for us. I really appreciate that. But definitely check out the opportunity to become a PIF member, thirty five percent off for a limited time. And this was from a recent customer questionnaire that we did. And, you know, comments like this obviously make my day, week, year and days. make it a lot more joyful for me to run pif the member said thank you for helping me achieve my financial goals and that is amazing to hear all right so um elon musk this started eighteen hours ago or well actually it started way before that uh but he's the the trickle of posts uh started um around this time So here, Elon Musk is reposting a meme where he shows basically the work that he did at Doge. Everything that was saved is basically just going to be steamrolled by this quote unquote, big, beautiful bill, which, you know, as far as spending goes, it can either be, you know, big and not beautiful. Or it's not big and it is beautiful, but you can't really have both. Trump's big, beautiful bill is actually negating all the work that Elon Musk and Doge did. And yes, they didn't get to a trillion dollars in savings, but they did. And they're still working. Obviously, Doge is still working on saving money. government money wherever it can. And it did reach close to two hundred billion dollars in savings, which is nothing to scoff at. At least it puts the country on the right path. I mean, the journey of a thousand miles starts with one step. And so at least we were going in that direction until this new spending bill that got approved. And Elon Musk is upset about that. He also mentioned, and I think this didn't get enough attention, but he also mentioned today, and Elon Musk is someone with all of the companies that he has and the data that he gets about the business that they are doing has a very unique insight into the global economy. He said the Trump tariffs will cause a recession in the second half of this year. Obviously, this puts added pressure for some deals to get done here. And, you know, when someone like Ilham says that, it should be considered. And certainly with the jobs data that we're getting, I wonder if this is just an added, you know, this is, pretty prominent voice that Elon Musk has is added to the mosaic of evidence that should push the Fed to cut rates because right now the way things are headed there is a slowdown in store for the economy. Obviously, there is a meeting between Trump and Xi Jinping on Friday, so tomorrow. Hopefully, that goes well. Obviously, if a deal is done with China, that would alleviate a lot of the threat of tariffs. So hopefully we can get some good news from that meeting. And then Elon Musk just went nuclear. And he basically said that the reason why the Epstein files haven't been released is because Donald Trump is in those files. So that's basically kind of burning the bridge there because, you know, how do you then resume any type of relation with someone who was involved with Epstein. So that's, and it's not like we didn't know that there was a relationship there before. Uh, but I guess this served as pretty strong reminder to everyone. And obviously Donald Trump is, is seething to say the least, uh, from this tweet. I can guarantee you that. Donald Trump obviously is not the type of person to accept criticism or to accept personal attacks. He did mention that the easiest way to save money in our budget, whether billions and billions of dollars, that Elon gets through government subsidies and contracts. Yeah. He was surprised that Biden didn't do it. So I guess he was kind of threatening there. But I don't think that that's going to work. I don't think the government is giving billions and billions of contracts to Elon Musk's companies out of a favor. I think they're benefiting a lot. from specifically SpaceX. As far as the subsidies for, as far as Tesla is concerned, those are going to be taken away anyway. So if you're talking about SpaceX, no one can really do their job. So it's not like this is a one-sided relationship. The government is benefiting just as much as SpaceX is. But obviously Donald Trump has to say something And as if this couldn't escalate anymore, Elon Musk comments yes on another ex-user's comment that, hey, maybe Trump should be impeached and JD Vance should replace him. So obviously things have gone to hell in a handbasket. in the space of a few hours. So that is something that was not on anyone's radar, really. That being said, I think it's important to remember, why do you get paid as an investor? The reason why you get paid as an investor is is because you have to endure days like this, where a lot of stuff happens unanticipated, not really related to the fundamentals of the company, not related to a lack of due diligence that you may have done, but impact the company that you hold negatively and It's your job to be able to withstand these times and not make the wrong decision and be able to distinguish between noise and signal. And as far as I'm concerned, everything that I've gone over in this life is noise. It's short-term noise because nothing that I went over changes the fact that Tesla is the leader in autonomy. No one has a solution to autonomy that is based on vision. Everyone else is dealing with lidars that are expensive and don't really work outside a very narrow geofenced area that has to be constantly updated and monitored. So no one really has a solution other than Tesla. Nothing that I went over right now changes that. Nothing that I went over changes the fact that Tesla is a leader in real world AI and robotics and probably has the best chance to win the humanoid robot race. Nothing that I went over changes the fact that energy storage and generation is going to be a multi-trillion dollar opportunity over the next few years and tesla has a leadership position there as well nothing I went over changes the fact that tesla has one of the most powerful supercomputers in Dojo on the planet that is constantly training on data that it is collecting from fleets of millions of cars that it has deployed globally. And it's using that data to improve their self-driving solution. None of those fundamentals about the company have changed. And so when you're sitting on your yacht in the Mediterranean, staring at the big blue sky ahead of you, sipping on your Zabiha Pina Colada, It's not going to be because you've had a long stretch of very smooth days before that moment. It's going to be because you were able to withstand the sometimes dramatic ups and downs of the market. And you had the foresight to make the right moves. And often that means not doing anything. in the face of the dramatic turbulence that the markets were experiencing. And in fact, you often have the courage to... to buy to be greedy when people were fearful and you were never greedy when others were greedy in fact you are often fearful when they were greedy and you made the right decision in each time that's what's going to get you paid as an investor Worrying about this, I think, noise, something that's completely out of our hands and will eventually solve itself, I don't think is the solution. And take as an example in terms of what could happen in the future, even though the things that Elon said today were all over the place and hard to come back from. But you look at Trump and President Xi of China. Trump also said some pretty harsh things about China. And the Chinese said a lot of harsh things about the United States. And yet they're meeting tomorrow. So a lot of times these things, for the sake of China, know self-interest a lot of times these things people learn not to hold grudges and they can move past them so with that being said I think if anything this is an opportunity this may change the timeline here it may become harder harder for elon musk to roll out the robo taxing certain jurisdictions that's possible but keep in mind we're talking about a general solution and a global fleet. So even if there are some states where it becomes more difficult for Elon to roll out the Robotaxi, there will still be some areas where he can. And obviously, globally, he will also have an opportunity to roll out his service there as well. And eventually, once it proves itself, this thing is going to be everywhere. And don't forget, humanoid robots, inshallah, they will be... you know, approaching something that resembles mass production by the end of, or I shouldn't say mass production, but, you know, beyond proof of concept by the end of this year. And then next year, things are going to get more serious. We also have the low priced, the new model, which should be lower in price coming out in the next few weeks. So there are a number of other catalysts that Tesla has. And like I said, if it was easy, everyone could do it. If investing was easy, everyone could do it. Investing is very simple, but it's very hard to do. So Obviously, the concept of distinguishing between noise and signal, that's a very simple concept to understand and grasp. The concept of being greedy when others are fearful, it's a very simple concept to grasp. But actually, implementing these concepts is hard. And so, I think now is an opportunity to do exactly that and practice what we preach. And practicing what we preach means looking at the volatility of today as an opportunity in my assessment. All right, going back to the LaunchGood campaign from yesterday, I shared this with you guys. This was from a friend of mine who I trust. One of his patients, he works at a VA hospital. He converted to Islam, his patient did, and shortly after was diagnosed with cancer. For some reason, red tape, he's he's not going to be covered and so um my friend uh started this campaign for him we were at eleven thousand five hundred yesterday when I shared it with you guys uh before I went live we're at eighteen thousand six hundred so we're just a stone throws away from the twenty thousand so let's take care of this for our brother and give him the opportunity to focus on getting better inshallah and then final thing our reminder for this live is to take advantage of the thirty five percent off for a limited time use code Alha twenty five at checkout to get the Discount. And this was another review from one of our members. I'm looking forward to continuing to be a member of the PIF community for years to come. Thank you again for what you do for the Muslim community. And thank you for the person that wrote this. I really appreciate it. So going to questions very quickly because I have to be somewhere. I apologize. Thank you for coming online to calm down PIF community. I know that these two will have fallout at some point. yeah I think you know in hindsight it was obvious yeah I don't why didn't why didn't Elon wait I don't think Elon cares I think he's not thinking about the stock I think he's thinking about really the deficit and the debt and that's why he spoke Eid Mubarak to everyone may Allah accept your good deeds And make you from the people of paradise, inshallah. Salam Khalid, nice to see you. Salam Eid Mubarak, Abdul, nice to see you. The thirty five percent off is for the annual membership brother. So it's for the full year. What do you think about tracker funds like gold tracker and silver tracker funds? So if they don't hold the actual asset and they're tracking through derivatives, then I'm uncomfortable with them from a hello perspective. As-salamu alaykum. If this feud continues, is it worth considering selling all Tesla stock? I think that's the opposite of what you should do. That's the opposite of how I think about it. I'm not giving you financial advice, but that's the opposite. If this feud continues and we get an even deeper discount on Tesla stock, I would buy more. Yeah, I covered the recession tweet. Tesla is keeping us on our toes. Yes, indeed. No, I don't consider Waymo as a realistic competition. Their solution doesn't work. They'll never be profitable. So it's just a matter of how stubborn you want to be. How long does Waymo want to lose money for? Because they're increasing the number of rides, but every single one of them loses money for them. Yeah. What does this have to do with Bitcoin? Bitcoin was down too. So the market can be very irrational. I can't see a reason why Bitcoin is down other than the correlation brought about from algorithmic trading. So the algorithms are selling everything at the same time, but really there shouldn't be any fundamental reason why Bitcoin is down. Eid Mubarak, Ashad. Thanks for being a pillar of this community as always. And the Eid Mubarak. We'll see for the live tomorrow. I'll let you guys know. Insider selling tends to be noise. Take it from me. Insider selling tends to be noise. Insider buying is often signal. Great back. Adam says, long time PIF member, first time commenter. Just wanted to say salams and thank you for these sessions. It's my pleasure, Adam. And I'm glad you got an opportunity to comment and thank you for your support over the long time that you've been a member. Really appreciate it. Guys, do leave a like if you enjoyed this live. Become a PIF member if you haven't already. Take advantage of our promotion. Make sure to get our friend to the twenty thousand I'm sure inshallah he'll get there until next time make sure to take care of yourself Eid Mubarak peace be upon you all