Technology
The focus of Tesla’s results week is on price reductions and Elon Musk’s ambitious pursuit of full autonomy
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.
Artificial Intelligence
Google DeepMind Shows Off A Robot That Plays Table Tennis At A Fun “Solidly Amateur” Level
Have you ever wanted to play table tennis but didn’t have anyone to play with? We have a big scientific discovery for you! Google DeepMind just showed off a robot that could give you a run for your money in a game. But don’t think you’d be beaten badly—the engineers say their robot plays at a “solidly amateur” level.
From scary faces to robo-snails that work together to Atlas, who is now retired and happy, it seems like we’re always just one step away from another amazing robotics achievement. But people can still do a lot of things that robots haven’t come close to.
In terms of speed and performance in physical tasks, engineers are still trying to make machines that can be like humans. With the creation of their table-tennis-playing robot, a team at DeepMind has taken a step toward that goal.
What the team says in their new preprint, which hasn’t been published yet in a peer-reviewed journal, is that competitive matches are often incredibly dynamic, with complicated movements, quick eye-hand coordination, and high-level strategies that change based on the opponent’s strengths and weaknesses. Pure strategy games like chess, which robots are already good at (though with… mixed results), don’t have these features. Games like table tennis do.
People who play games spend years practicing to get better. The DeepMind team wanted to make a robot that could really compete with a human opponent and make the game fun for both of them. They say that their robot is the first to reach these goals.
They came up with a library of “low-level skills” and a “high-level controller” that picks the best skill for each situation. As the team explained in their announcement of their new idea, the skill library has a number of different table tennis techniques, such as forehand and backhand serves. The controller uses descriptions of these skills along with information about how the game is going and its opponent’s skill level to choose the best skill that it can physically do.
The robot began with some information about people. It was then taught through simulations that helped it learn new skills through reinforcement learning. It continued to learn and change by playing against people. Watch the video below to see for yourself what happened.
“It’s really cool to see the robot play against players of all skill levels and styles.” Our goal was for the robot to be at an intermediate level when we started. “It really did that, all of our hard work paid off,” said Barney J. Reed, a professional table tennis coach who helped with the project. “I think the robot was even better than I thought it would be.”
The team held competitions where the robot competed against 29 people whose skills ranged from beginner to advanced+. The matches were played according to normal rules, with one important exception: the robot could not physically serve the ball.
The robot won every game it played against beginners, but it lost every game it played against advanced and advanced+ players. It won 55% of the time against opponents at an intermediate level, which led the team to believe it had reached an intermediate level of human skill.
The important thing is that all of the opponents, no matter how good they were, thought the matches were “fun” and “engaging.” They even had fun taking advantage of the robot’s flaws. The more skilled players thought that this kind of system could be better than a ball thrower as a way to train.
There probably won’t be a robot team in the Olympics any time soon, but it could be used as a training tool. Who knows what will happen in the future?
The preprint has been put on arXiv.
Astronomy
Witness the rare celestial event of Mars and Jupiter reaching their closest proximity in the sky this week, a phenomenon that will not occur again until 2033.
Mars and Jupiter will be only 0.3 degrees apart in the sky on August 14. From our point of view, this passage is very close. If you miss it, you won’t be able to see another one until 2033.
When two objects pass each other in the sky from our point of view, this is called a conjunction. Every time two planets came together, the closer one would block out the other because they would all be moving in a perfectly flat plane. The orbits of the planets are slightly different from those of the other planets, though, so they move slightly to the north and south of each other. Every time, that gap is a different size.
When two things happen close together, the results are especially stunning. Jupiter and Saturn were close enough to each other in 2020 that they could be seen in the same field of view through a telescope. This is a treat for people who like to observe the sky.
Being 0.5 degrees wide, the full moon will fit in any view that can hold the whole moon. This pair will also look good before and after the full moon.
But even with the naked eye, a close conjunction can make the sky look even more amazing. The contrast between the red of Mars and the white of Jupiter will be especially striking. However, Mars’ brightness changes a lot. When it’s at its brightest, it’s about the same brightness as Jupiter. Right now, it’s 16 times less bright. They are so bright that, unless there are clouds, you should be able to see them from all but the dirtiest cities.
Most people in the world will miss this sight, though, because they can’t see the pair of planets in the evening from anywhere on Earth. The exact time they rise depends on where you live, but it’s usually between midnight and 3 am. To see this, you will mostly need to get up before astronomical twilight starts so that you have time to get through the thickest part of the atmosphere.
For people in Europe, Africa, west Asia, and the Americas, the closest time will be 14:53 UTC, which is during the day. The mornings before and after, though, will look almost as close.
Mars and Jupiter meet about every two and a half years, but the most recent one was almost twice as far away and could only be seen in the morning. In 2029, the gaps will be just under two degrees. The next one will be even wider, at more than a degree.
When planets are close to each other, that doesn’t always mean that their distance from each other is very small. Mars has been around the Sun for 687 days, but it is now less than 100 days past its perihelion, which means it is closer than usual. Even though Jupiter is a little closer than usual, it’s not really that close. To be as close as possible to each other, Mars has to be at its farthest point, and Jupiter has to be at its closest point. So this one is not unusual.
But if you want to see something beautiful, you will have to wait more than nine years to see it again.
Engineering
New concrete that doesn’t need cement could cut carbon emissions in the construction industry
Even though concrete is a very common building material, it is not at all the most environmentally friendly choice. Because of this, scientists and engineers have been looking for alternatives that are better for the environment. They may have found one: concrete that doesn’t need cement.
Cement production, which is a crucial ingredient in concrete, ranks as the third most significant contributor to human-caused carbon emissions globally. Nevertheless, in recent years, a multitude of alternative techniques for producing more environmentally friendly concrete have surfaced. One proposed method involves utilizing industrial waste and steel slag as CO2-reducing additives in the concrete mixture. Another suggestion is to utilize spent coffee grounds to enhance the strength of the concrete while reducing the amount of sand required.
However, a certain company has devised a technique to produce cement-free concrete suitable for commercial enterprises.
The concrete has the potential to have a net reduction in carbon dioxide and has the ability to prevent approximately 1 metric ton of carbon emissions for every metric ton used. If this statement is accurate, the cement-free binder will serve as a noteworthy substitute for Portland cement. According to BGR, the new concrete also complies with all the industry standards of traditional cement concrete, ensuring that there is no compromise in terms of strength and durability.
While it is still in the early stages, the situation seems encouraging. C-Crete Technologies, a company specializing in materials science and holding the patents for a novel form of concrete, has utilized approximately 140 tons of this new cast-in-place (pourable) concrete in recent construction endeavors.
In September 2023, the company was granted an initial sum of almost $1 million, promptly succeeded by an additional $2 million, by the US Department of Energy to advance the progress of its technology. In addition, it has garnered numerous accolades that are facilitating its growth in operations.
The widespread adoption of cement-free concrete in future construction projects has the potential to significantly alter the environmental impact of the industry. Although C-Crete seems to be one of the few companies currently exploring these new alternatives on a large scale, it is likely that others will also start embracing them in the near future.
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