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The focus of Tesla’s results week is on price reductions and Elon Musk’s ambitious pursuit of full autonomy

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According to CEO Elon Musk’s most recent post on X, the company is stepping up its efforts to achieve complete autonomy as it gets ready to announce its anticipated underwhelming financial results for the first quarter on Tuesday.

Tesla reduced the price of its Full Self-Driving (FSD) sophisticated driver-assistance system to $8,000 over the weekend, a decrease from the previous price of $12,000. In addition to last week’s reduction, the price of the FSD monthly subscription has been further decreased to $99 from $199. Tesla’s effort to expand the implementation of full self-driving (FSD) in more vehicles may be motivated by the need to gather additional data. This data will be crucial in enhancing the neural networks that will enable more advanced autonomous driving capabilities. Currently, FSD (full self-driving) technology has the capability to handle various driving responsibilities in urban areas and on highways. However, it is still necessary for a human to stay vigilant and keep their hands on the steering wheel in case the system needs to be taken over.

Tesla’s revenues are becoming increasingly limited as it makes a significant and costly investment in autonomous driving technology. In an email to all employees, Musk announced that Tesla had laid off 10% of its workforce as a cost-cutting measure in advance of the company’s upcoming period of expansion.

In a sudden move earlier this month, Musk stated on X that Tesla would halt the progress of its $25,000 electric vehicle to prioritize the creation of a robotaxi, which he pledged to unveil in August. Insiders at Tesla have verified that they were not given advance notice by Musk of this abrupt change and that internal reorganizations indicate a new guiding principle that prioritizes the development of robotaxi technology.

Tesla is now experiencing fluctuations in its electric vehicle price strategy.

Recently, Tesla discontinued offering discounts on electric vehicle inventory prices. However, throughout the weekend, they significantly reduced the costs of the Model 3 and Model Y by up to $2,000 in the United States, China, and Germany. During the initial quarter of 2023, it became evident that the reduction in prices was negatively impacting Tesla’s revenue and profit margins.

Tesla is expected to release its financial results after the stock markets close on April 23. Musk has previously stated that Tesla’s value would essentially be negligible without autonomy.

 

Tomorrow, the company must persuade investors that its focus on autonomous vehicles is a positive outcome amidst declining margins, rather than a deceptive illusion.

Ever since Musk made the decision to reduce staff and emphasize Tesla’s focus on autonomy, the company’s share price has experienced a significant decline of nearly 10%. The shares have experienced a significant decline of over 42% since the beginning of the year.

What to anticipate at Tesla’s Q1 2024 earnings
With Tesla’s lower first-quarter delivery figures and price cuts, it seems that their profit pie may be smaller this time around. And analysts appear to be in agreement.

According to analysts surveyed by Yahoo Finance, the projected earnings per share are $0.48, with an estimated revenue of $20.94 billion. Just a quick reminder: Tesla reported revenue of $25.17 billion in Q4 and $23.3 billion in the first quarter of 2023.

In the first quarter of 2024, Tesla’s vehicle deliveries totaled 386,810, representing a 20% decrease compared to the previous quarter’s figure of 484,507. This is not just a temporary fluctuation, but something worth considering in the long term. Tesla’s car deliveries for the first quarter of 2023 were lower than the previous year, marking a decline in sales for the first time in three years.

As a business owner, it’s evident that Tesla’s Q4 results reflect the challenges of managing shrinking profit margins, increasing costs related to the launch of the Cybertruck, and other research and development expenses.

During the fourth quarter, the automaker recorded a net income of $7.9 billion on a GAAP basis. A one-time, non-cash tax benefit of $5.9 billion was the main factor in this significant figure. The company’s operating income and adjusted earnings offered a more transparent view of its financial performance.

In the fourth quarter, Tesla’s operating income decreased by 47% compared to the same period last year, amounting to $2.06 billion. The company’s adjusted earnings for this period were $3.9 billion, representing a 27% decrease compared to the previous year.

The question is whether Tesla can prevent the decline in profits.

Ever since Tesla released its Q1 2024 production and delivery figures, the company has been strategically utilizing different financial strategies to appeal to potential customers and encourage current ones to invest in FSD. This has been done while also finding ways to cut costs and ensure profitability.

With conflicting objectives and Musk’s reputation as a no-nonsense CEO, the Q1 earnings call is sure to be an interesting affair. In addition to that potential theater, there are important long-term questions regarding Tesla’s ability to deliver on autonomy and whether it can sufficiently convince investors of its leadership and innovation.

As Editor here at GeekReply, I'm a big fan of all things Geeky. Most of my contributions to the site are technology related, but I'm also a big fan of video games. My genres of choice include RPGs, MMOs, Grand Strategy, and Simulation. If I'm not chasing after the latest gear on my MMO of choice, I'm here at GeekReply reporting on the latest in Geek culture.

Engineering

Testing the longest quantum network on existing fiber optics in Boston

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Imagine a world where information can be transmitted securely across the globe, free from the prying eyes of hackers. Its incredible power lies in the realm of quantum mechanics, making it a groundbreaking advancement with immense potential for the future of telecommunications. There have been obstacles to conquer, but there has also been notable progress, exemplified by a recent achievement from researchers at Harvard University.

Using the existing fiber optics within the city of Boston, the team successfully demonstrated the longest transmission between two nodes. The fiber path covered a total distance of 35 kilometers (22 miles), encircling the entire city. The two nodes that connected to the close path were situated on different floors, making the fiber route not the shortest but rather an intriguing one.

Quantum information has been successfully transmitted over longer distances, showcasing remarkable advancements in this experiment that bring us closer to the realization of a practical quantum internet. The real breakthrough lies in the nodes, going beyond the mere utilization of optical fibers.

A typical network utilizes signal repeaters made of optical fiber. These devices incorporate optical receivers, electrical amplifiers, and optical transmitters. The signal is received, transformed into an electrical form, and subsequently converted back into light before being transmitted. They play a crucial role in expanding the reach of the original signal. And in its present state, this is not suitable for quantum internet.

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The issue lies not in the technology, but rather in the fundamental principles of physics. Copying quantum information is not possible in that manner. Quantum information is highly secure due to its entangled state. The Harvard system operates by utilizing individual nodes that function as miniature quantum computers, responsible for storing, processing, and transferring information. This quantum network, consisting of only two nodes, is currently the most extensive one ever achieved, with nodes capable of such remarkable functionality.

“Demonstrating the ability to entangle quantum network nodes in a bustling urban environment is a significant milestone in enabling practical networking between quantum computers,” stated Professor Mikhail Lukin, the senior author.

At each node, a tiny quantum computer is constructed using a small piece of diamond that contains a flaw in its atomic arrangement known as a silicon vacancy center. At temperatures close to absolute zero, the silicon vacancy has the remarkable ability to capture, retain, and interconnect pieces of data, making it an ideal choice for a node.

“Given the existing entanglement between the light and the first node, it has the capability to transmit this entanglement to the second node,” elucidated Can Knaut, a graduate researcher in Lukin’s lab. “This phenomenon is known as photon-mediated entanglement.”

The study has been published in the prestigious journal Nature.

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Astronomy

NASA’s flyby of Europa shows that “something” is moving under the ice

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Europa’s surface has marks that show the icy crust is vulnerable to the water below. The most important thing is that Juno’s recent visit shows what might be plume activity. If this is real, it would let future missions take samples of the ocean inside the planet without having to land.

Even though it’s been almost two years since Juno got the closest to Europa, its data is still being looked at. Even though Juno has been going around Jupiter since 2016, the five pictures it took on September 29, 2022, were the closest views of Europa since Galileo’s last visit in 2000.

Some might say that’s a shocking lack of interest in one of the Solar System’s most interesting worlds, but it could also have been a good way to see how things had changed over time.

Europa is the smoothest object in the solar system because its ocean keeps it from sinking to the surface. Still, it’s not featureless; Juno saw some deep depressions with steep walls that are 20 to 50 kilometers (12 to 31 miles) wide, as well as fracture patterns that are thought to show “true polar wander.

In a statement, Dr. Candy Hansen of the Planetary Science Institute said, “True polar wander occurs if Europa’s icy shell is separated from its rocky interior. This puts a lot of stress on the shell, which causes it to break in predictable ways.”

The shell that sits on top of Europa’s ocean is thought to be rotating faster than the rest of the moon. This is what true polar wandering means. People think that the water below is moving and pulling the shell along with it. Ocean currents are thought to be causing this. The currents are most likely a result of heat inside Europa’s rocky core, which is heated up as a result of Jupiter and its larger moons pulling on Europa and turning it into a large stress ball.

The ocean and ice could stretch and compress parts of the ice, which is how the cracks and ridges that have been seen since Voyager 2 visited were made.

A group under the direction of Hansen is viewing images of Europa’s southern half. The scientist said, “This is the first time that these fracture patterns have been mapped in the southern hemisphere. This suggests that true polar wander has a bigger effect on Europa’s surface geology than was thought before.”

Ocean currents are not to blame for all of Europa’s map changes. It appears that optical tricks can even fool NASA. Hansen said, “Crater Gwern is no longer there.” “JunoCam data showed that Gwern, which was once thought to be a 13-mile-wide impact crater and one of Europa’s few known impact craters, was actually a group of ridges that crossed each other to make an oval shadow.”

But Juno gives more than it takes away. The team is interested in what they’re calling the Platypus because of its shape, not because it has a lot of parts that shouldn’t go together. Ridges on its edge look like they are collapsing into it. The scientists think this might be because pockets of salt water have partially broken through the icy shell.

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The Europa Clipper would find these pockets to be fascinating indirect targets for study, but the dark stains that cryovolcanic activity might have left behind are even more intriguing.

“These features suggest the possibility of current surface activity and the existence of liquid water beneath the surface on Europa,” stated Heidi Becker from the Jet Propulsion Laboratory. There is evidence of such activity in the geysers of Enceladus, but there is still uncertainty regarding whether it is currently happening on Europa.

Engaging in such an endeavor would enable the sampling of the interior ocean to detect signs of life simply by flying through a plume and gathering ice flakes without the need for landing or drilling.

It seems that in the past, there was a significant shift of over 70 degrees in the locations of features on Europa’s surface, although the reasons for this remain unknown. However, at present, polar wander only leads to minor adjustments.

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Bionics

A new syndrome linked to COVID that could be fatal has appeared

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There is a new outbreak of a rare but deadly autoimmune disorder in the north of England. New research suggests that the outbreak may be linked to COVID-19. Anti-MDA5-positive dermatomyositis is the name of the disease. It was mostly found in Asian people before the pandemic, but now it’s becoming more common among white people in Yorkshire.

Antibodies that target the MDA5 (melanoma differentiation-associated protein 5) enzyme are what cause the illness. It is linked to progressive interstitial lung disease, which scars lung tissue. Between 2020 and 2022, doctors in Yorkshire reported 60 cases of MDA5 autoimmunity, which was the highest number ever. Eight people died as a result.

What the researchers found when they looked at this sudden rise in cases is that it happened at the same time as the main waves of COVID-19 infections during the pandemic’s peak years. This caught their attention right away because MDA5 is an RNA receptor that is very important for finding the SARS-CoV-2 virus.

The study authors write, “This is to report a rise in the rate of anti-MDA5 positivity testing in our region (Yorkshire) in the second year of the COVID-19 pandemic. This was noteworthy because this entity is not commonly found in the UK.” They say this is likely a sign of “a distinct form of MDA5+ disease in the COVID-19 era.” They have named it “MDA5-autoimmunity and Interstitial Pneumonitis Contemporaneous with COVID-19” (MIP-C).

The researchers used tools that look for shared traits among people in the same medical cohort to figure out how this newly discovered symptom works. In this way, they found that people who had MDA5 autoimmunity also tended to have high levels of interleukin-15 (IL-15), a cytokine that causes inflammation.

The author of the study, Pradipta Ghosh, said in a statement that IL-15 “can push cells to the brink of exhaustion and create an immunologic phenotype that is very, very often seen as a hallmark of progressive interstitial lung disease, or fibrosis of the lung.”

Overall, only eight of the 60 patients had tested positive for COVID-19 before. This means that a lot of them may have had infections that didn’t cause any symptoms that they weren’t aware of. This means that even mild infections with no early symptoms might be enough to cause MDA5 autoimmunity.

The researchers say, “Given that the highest number of positive MDA5 tests happened after the highest number of COVID-19 cases in 2021 and at the same time as the highest number of vaccinations, these results suggest an immune reaction or autoimmunity against MDA5 after exposure to SARS-CoV-2 and/or vaccines.”

Ghosh says that the event probably isn’t just happening in Yorkshire. Reports on MIP-C are now coming in from all over the world.

The study was written up in the eBioMedicine journal.

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