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Business Times
2 days ago
- Automotive
- Business Times
Musk pins Tesla's comeback on robotaxis after retreat from feud
TESLA already had a lot riding on its highly anticipated robotaxi launch long before Elon Musk decided to swing a wrecking ball through his alliance with US President Donald Trump – and the company's share price. Now investors are looking for a win that can help repair the brand damage and shift Tesla back into growth mode. Musk said Tesla would start the new self-driving car service in Austin as soon as Jun 22, as part of the electric vehicles (EV) maker's big bet on artificial intelligence and autonomous driving. While Tesla gave the city an outline of its tentative plans, the company had not disclosed a launch date – either publicly or directly to Austin officials – until late on Tuesday (Jun 10), when Musk warned the service's debut could shift because it was 'super paranoid about safety.' The proclamation came as part of an all-night series of social media messages by Musk, which included a near-apology that 'I regret some of my posts' about the president, which 'went too far.' The comments helped push shares up about 3 per cent Wednesday by investors who have been urging Musk to refocus on his business empire. The billionaire has said the rollout would start slowly, with 10 to 20 vehicles, and a testing area verified by Bloomberg News suggests the initial contours of the debut resemble more of a souped-up demo than a full-fledged launch. That may not matter to Tesla's biggest fans, or the stock price. Investors generally have been willing to give Musk the benefit of the doubt in the short term as they believe in his long-term vision. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up For the moment, Tesla sales are tumbling around the world, its stock is down around 20 per cent this year and analysts have lowered their expectations for the company's performance. While Musk tries to undo some of the damage from his meltdown with Trump, the immediate impact to Tesla's shares and Musk's own wealth shows just how delicate the whole balance is. The government has outsized influence over his businesses, from billion-dollar contracts to the regulatory environment for autonomous vehicles and Tesla's robotaxi network. 'He needs to dial down the rhetoric and the drama and get back to the business of Optimus and robotaxi and Full Self Driving,' Nancy Tengler, chief executive officer and chief investment officer of Laffer Tengler Investments, told Bloomberg Television. 'That is what people own the stock for – and for his brilliance and genius of course – but not for the histrionics.' Musk has promised to establish a ride-hailing network that is part 'Airbnb, part Uber.' The company wants the fleet to built on its Full Self-Driving technology and eventually feature both purpose-built Cybercabs without pedals or steering wheels, as well as Teslas owned by the company and individual drivers. Musk predicts hundreds of thousands of the vehicles on the road by late 2026. The robotaxi launch is the first step in showing investors he can deliver. Tesla will be the fourth robotaxi service to launch in Austin in the past several years. While Tesla can operate its standard consumer models in Texas with no driver, it needs federal exemptions to use the Cybercab in its fleet. In other states, including California, Tesla faces a patchwork of regulations. Representatives for Tesla and Musk did not respond to requests for comment. Testing grounds There have been signs of the company's preparation in Austin. Model Y vehicles with manufacturer's plates have become a frequent sight around town in the south and southeast portions of the city that are studded with residential neighborhoods and retail shopping centers and a few minutes drive from downtown. In some cases, the vehicles drive around in what appear to be circular routes. The initial operation area will likely cover only a few square miles, according to a person familiar with the plan who was not authorised to speak publicly on it. The zone could change before launch or be amended quickly after the service begins. The rules governing driverless vehicles in Texas are notably light. While rideshare companies with human drivers must obtain a license to operate in Texas, a legal loophole means robotaxis like those operated by Tesla do not need the same approvals, according to the Texas Department of Licensing and Registration. That makes the state a popular choice for companies in the early stages of autonomous service. Waymo, the driverless-rideshare business owned by Google parent Alphabet, currently has about 100 robotaxis in Austin in partnership with Uber and plans to ramp up to hundreds over time. Volkswagen ADMT and Amazon's Zoox are testing their vehicles there. A number of autonomous trucking companies are also testing elsewhere in the state. Tesla has embraced a different approach to autonomy, favoring a camera-only system rather than a combination of lidar, radar and pre-mapping that competitors use. Musk has long claimed such an approach will allow the company to scale up sooner than rivals including Waymo, which he considers too expensive. According to some estimates, Tesla's system of sensors costs about US$400 per vehicle; Waymo's fleet, which totals 1,500 vehicles in California, Arizona and Texas, runs roughly US$12,650 per car. Critics have said Tesla's vision-only system is riskier as it's more limited in certain conditions with less visibility, such as sun glare, fog or dust. Regardless of the vehicles' specifications, autonomous vehicle testing in Austin and elsewhere has brought challenges. General Motors' now-defunct Cruise dragged a person along a street in San Francisco in a gruesome incident that left the pedestrian in critical condition. Driverless rideshare cars have caused viral traffic jams in Austin and last week, Waymo drove into a flooded area following a storm. 'Safety is our highest priority at Waymo, both for people who choose to ride with us and those with whom we share the streets. We remain committed to improving road safety through our ongoing learnings and experience,' a Waymo spokesperson said. In preparation for its launch, Tesla has been in touch with Austin city officials and first responders to discuss safety expectations, according to emails seen by Bloomberg News that date back to at least May 2024. Tesla has said robotaxis will be remotely monitored initially. But several key aspects of Tesla's plan are yet to be finalised with the city's autonomous vehicle working group, which communicates with AV companies operating in Austin. Tesla has only shown officials a draft of an expected first responder guide, and an emergency training is still outstanding, according to Andre Jordan, division chief of homeland security and special operations for the Austin Fire Department, and a member of the city's working group. 'Autonomous vehicles are required to follow the law, but what happens when the law and directions of first responders conflict? It's a complicated world,' said Jordan. Brand damage It is also a complicated moment for Musk to pitch Tesla as a trusted brand to take passengers, many of whom aren't accustomed to riding in self-driving cars, where they need to go. Thanks to months wading through the political fracas in Washington, the billionaire and his cars have never been more polarising. Although Musk has sought to dial down the hostility with the president, the billionaire's public spat with Trump threatens to alienate even more customers. 'Tesla at this moment is a brand with all sorts of mixed associations,' said Tim Calkins, a marketing professor at Northwestern University's Kellogg School of Management. 'If people have negative feelings about Elon Musk and they spill onto robotaxi, I don't think they'll be eager to take a ride. There's lots of alternatives.' Driverless vehicles require an extra element of trust and critics will be ready to amplify any mishaps, said Mike Paul, president of crisis consultancy Reputation Doctor LLC. 'When you're starting from a deficit currently, from a trust in branding perspective, with all things Elon,' Paul said, 'it's going to be very difficult to show success.' Musk has been building expectations for this launch for years. While some investors are willing to lend him some leniency on timing and the exact details, many want concrete signs of progress. Baird analyst Ben Kallo downgraded Tesla to neutral, citing, in part, overhyped expectations from Musk around the robotaxi launch and intensifying competition in the space. Kallo also said that Musk's deteriorating relationship with Trump has led to more uncertainty. 'The valuation has gotten ahead of itself around the robotaxi,' Kallo told Bloomberg Television. 'I do think the rollout will take longer. At first it will require more people, so people in control centers making sure that the cars do not get into accidents something like that.' For that reason, Kallo said there will likely be some short-term pain. 'Rolling this out will be very difficult.' BLOOMBERG
Yahoo
05-06-2025
- Sport
- Yahoo
Kansas Basketball Turns Heads with Major Team News on Wednesday
Kansas Basketball Turns Heads with Major Team News on Wednesday originally appeared on Athlon Sports. It was a tough and frustrating 2024-25 season for Bill Self and the Kansas Jayhawks. The 62-year-old head coach saw his team eliminated in the first round of the NCAA Tournament. Advertisement This marked the third straight season Kansas failed to reach the Sweet 16 following its national title run in 2022. But Self, his staff and a revamped roster are ready to turn the page and gear up for the 2025-26 season. The Jayhawks recently posted their official non-conference schedule, and as usual in Lawrence, it's filled with high-level competition. Self is no stranger to tough early-season tests, and 2025-26 will be no different. Fan reactions summed up the anticipation: "This is a loaded Non-Conference schedule. Big props to Bill Self." said this commenter Jayhawk fan here loving the challenge: "North Carolina, UConn, and Duke? Bring it on." Advertisement "Louisville, UNC, Duke, UConn, mizzou, NCState and oh hey it's December 14." says this fan More tough competition talk: "North Carolina, UConn and duke are going to be tough games Border war should in Lawrence but I guess playing in Kansas City is fine I'm going to enjoy the burners (expletive) on Princeton those (expletive) nerds." "Guantlet." another adds here This fan knows it won't be easy: "Absolute mayhem." Kansas Jayhawks head coach Bill Sewell-Imagn Images The preseason tips off with a scrimmage against Pat Kelsey's Louisville Cardinals. Kelsey, in his first year, helped Louisville return to the NCAA Tournament last season. Kansas' first regular-season home game will be against Doug Gottlieb's UW-Green Bay Phoenix. From the Nov. 7 trip to North Carolina through a Dec. 13 visit to NC State, the Jayhawks will face one of the toughest slates in the country. Advertisement After visiting Chapel Hill on Nov. 7, Kansas hosts Texas A&M-Corpus Christi and Princeton before facing Duke in the Champions Classic on Nov. 18. That showdown will be held at Madison Square Garden in New York City. Next comes the inaugural Players Era event in Las Vegas, a multi-game neutral site showcase with opponents to be announced later. Then it's back to Allen Fieldhouse for a high-profile home game against Dan Hurley's UConn Huskies on Dec. 2. The rivalry game against Missouri follows, this time played in Kansas City. Both the Huskies and Tigers made the NCAA Tournament last season. The non-conference schedule wraps up with a road game at NC State on Dec. 13, then home games against Towson and Davidson before Christmas. Advertisement Self addressed the ambitious schedule: 'Once again, we have a non-conference schedule that should be one of the most challenging anyone will play,' he said. 'We have a home game against UConn in early December, away matchups at North Carolina and NC State, neutral games like Duke in the Champions Classic at Madison Square Garden, the three games at the Players Era tournament in Las Vegas, and another with Missouri in Kansas City. Those, along with the Big 12 competition, make this a very tough and demanding schedule." The Jayhawks remain one of college basketball's elite programs, with four NCAA championships and six runner-up finishes in school history. While recent seasons have fallen short of expectations, Self has a strong track record of bouncing back. The revamped roster and elite schedule should have Kansas battle-tested by the time Big 12 play begins. Related: 7-Foot College Basketball Recruit Makes Final Commitment Decision on Friday Related: 4-Star Transfer Decommits Just Three Days After Big Announcement This story was originally reported by Athlon Sports on Jun 4, 2025, where it first appeared.
Yahoo
04-06-2025
- Business
- Yahoo
How To Save Hundreds per Month With 3 Steps, According To Ramit Sethi
When paring down a budget, some might think that means eliminating anything fun — especially when there's debt to pay off. Entrepreneur and author of 'I Will Teach You to Be Rich' Ramit Sethi insists that's not true, even if a consumer has unpaid debt. In a recent video Sethi posted on his Instagram, he said, 'I believe in living a rich life today and living a rich life tomorrow, even if you have debt.' His video went on to detail three ways that consumers can find some wiggle room in their budgets. These are things that Sethi said most people 'won't even miss.' Read on to find out how to find these hidden savings. Read Next: Check Out: Sethi's first suggestion was for people to look at their subscriptions and see if there are any they wouldn't mind canceling — or didn't even remember they were subscribed to. According to a recent statistic from Self, around 85% of people have at least one paid subscription that they don't use every month. This comes out to about $32 a month, or almost $400 a year. This could be a tremendous savings that consumers can net without changing their routine at all. Check bank and credit card statements for recurring charges during an entire month to see every subscription, then determine if there are any that can get the boot. See More: Sethi recommended that individuals call their insurance companies (car, renters', pet, etc.) and say 'I'm shopping around for a better rate. What can you do for me?' If the insurance company is unable to offer a better deal, switch carriers. Most consumers who switched carriers in the past five years had a median savings of $461, according to Consumer Reports. It's a good idea to look into competitors' rates about every six months or so to make sure you have the lowest price. Impulse spending can be anything from a DoorDash order or a cute shirt in the mall. Americans spend about $150 in impulse purchases every month, per a post from Ramsey Solutions. Keeping those to a minimum can save consumers more than $1,000 a year. These types of purchases are typically fueled by emotions. Maybe shoppers will splurge on a cookie during a bad day, or buy a magazine in a checkout line because the cashier is taking a long time. It's important to determine the reason behind these purchases and see if there are other ways to solve that problem. Finding free or cheaper ways to fill time or cheer someone up is key to spending less on impulse. More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 6 Popular SUVs That Aren't Worth the Cost -- and 6 Affordable Alternatives This article originally appeared on How To Save Hundreds per Month With 3 Steps, According To Ramit Sethi Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
Two words keep cropping up with Elon Musk's business promises: ‘Next year'
Elon Musk has repeatedly made promises that don't come to fruition when it comes to his multibillion-dollar businesses. The world's richest man is accused of overpromising the timeline for everything from Tesla's Full Self Driving vehicles, affordable cars, and Robotaxis to humans landing on Mars. 'Next year' has become a firm favorite for Musk, who has been distracted lately by cutting and dismantling federal agencies through the Department of Government Efficiency on behalf of President Donald Trump. Musk recently announced he is stepping back from frontline politics and taking his vast wealth with him after Tesla's earnings took a hit in April, dipping 71 percent in profits. It was a wake-up call for Musk, who vowed to refocus on his businesses and leave Washington, D.C and the trail of destruction behind. While his investors may be pleased that his chainsaw-wielding, cheese-hat-wearing days are over for now, they are also likely 'frustrated' by all of the times Musk's predictions have fallen flat, WIRED reports. 'My predictions have a pretty good track record,' Musk told Tesla staff in March, but WIRED found otherwise in an assessment of all the times his predictions were wrong. In October 2015, Musk promised Tesla 'will have a car that can do full autonomy in about three years.' He then amended that deadline in January 2016 to be 'within two years.' In June 2016, Musk even claimed he considered 'autonomous driving to be a basically solved problem,' WIRED noted. 'We're less than two years away from complete autonomy,' he said in the familiar statement. But the deadline consistently kept slipping. In November 2018, he told tech journalist and podcast host Kara Swisher: 'I think we'll get to full self-driving next year.' Five years later, in May 2023, Musk told CNBC that 'it looks like' autonomous driving is 'gonna happen this year.' Two months later, he acknowledged he is 'the boy who cried FSD.' On an earnings call last month, Musk repeated the prediction yet again. 'I feel confident in predicting large scale autonomy around the middle of next year,' he said. 'There will be millions of Teslas operating autonomously, fully autonomously in the second half of next year.' Similarly, Musk predicted his long-awaited robot taxi would be on the road by mid-2020. 'Next year for sure, we'll have over a million robotaxis on the road,' he said in April 2019. Five years on, Tesla's robotaxi service will be on the streets of Austin, Texas by the end of June, Musk pledged last week. There is also no confirmed date yet for the launch of Tesla's Optimus robots, which Musk said would be able to 'clean your house, will mow the lawn, will walk the dog, will teach your kids, will babysit.' At an earnings call two months ago, he claimed: 'I'm hopefully ready for Optimus to be used outside of Tesla controlled environment maybe around the middle of next year second half of next year.' Musk also predicted humans could step onto Mars by 2024, which he called in December 2020 in an interview with Business Insider. 'When will we see the first human on Mars?' the billionaire was asked. 'Most likely six years from now, possibly four years,' Musk said. He first pledged in 2006 to deliver an affordably priced family car, which is now delayed until 2026, according to Reuters. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Yahoo
Unfounded gun investigation leads to visitors' ban at Paola choir concert
PAOLA, Kan. – Three young men were told not to return to Paola Schools last week after police ended up investigating whether they brought a gun to campus during a choir concert. The investigation determined the report was unfounded. Now, some of those involved believe there was another motivating factor in the decision. Paola schools say they were notified of a Snapchat picture after a choir concert last week, indicating someone may have had a gun in a backpack in a school parking lot. The district says the Snapchat group included three students who weren't part of the school district but who had been invited to see a friend sing. Leavenworth man sentenced after attacking correctional officers One of them was Melly Hill, 20, who was visiting from Olathe and brought a backpack with him with plans to stay at a friend's house. 'I just kind of find it crazy to me because everybody else had their bags and belongings and backpacks with them, but just for you to follow me out because I'm an African American individual is kind of crazy. I looked at it as I did nothing to threaten you, I sat there enjoyed the concert,' Hill said. The choir member who invited the students, two Black, one white, went to the principal's office the next day. 'The way he kept referring to him multiple times as a large African-American male despite me reminding him multiple times what his name was, that just seemed like a jab toward his race,' the girl, 17, said. Paola USD 368 Superintendent W. Matt Meek says descriptions were used for identification purposes only. The girl says that while in the principal's office, she was also told, 'people from Paola are not used to people of his kind.' Meek denies that administrators said that or made any inappropriate statements. But after still getting banned from the school despite police reviewing social media and determining no direct threats or that the alleged picture existed, the young people don't feel that way. University of Kansas Basketball alum joins Self staff as assistant 'It just kind of blows my mind we are in the middle of 2025 thinking about racism and things like this, we shouldn't have to walk in a place and feel like you are threatened,' Hill said. 'I was showing them around and they were going to watch my performance and instead they were just retaliated against and remarks made about them when all they wanted to do was come and watch me so I feel very embarrassed,' the Paola student who asked not to be identified said. The district says the three young men were asked not to return to campus to prevent future conflict because the investigation determined the students had been involved in a minor, inappropriate back-and-forth dialogue. The district issued the following statement: When school administration is made aware of student safety concerns an investigation is always conducted. In this instance assistance was requested from the Paola Police Department because they have the resources to reach out to individuals that are not a part of the Paola school system. At the conclusion of the investigation it was determined that the report was unfounded. The investigation did determine that students had been involved in a minor inappropriate back and forth dialogue. As such the three individuals that do not attend school in Paola USD 368 were requested to avoid being on campus for the last few days of the school year to prevent any further issues. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
