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Tesla CEO Elon Musk. Photo: Mark Brake/Getty Images

Tesla's first-quarter earnings call in a couple weeks just got even more interesting. On Friday Musk shot back via Twitter at The Economist over their story headlined "Tesla is heading for a cash crunch," which cited analyst predictions that Tesla will need to raise more money from capital markets: "Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money," Musk tweeted.

Why this matters: It's a bold claim because profitable quarters have been extraordinarily rare in the company's history.

Production pledge: Musk's widely circulated CBS News interview Friday included this claim: "We'll probably have, I don't know, a three or four-fold increase in Model 3 output in the second quarter."

  • The big picture: Musk's comment signals confidence that the recent increase in production — which cracked 2,000 per week at the end of the second quarter — can be maintained and significantly improved. It comes after Goldman Sachs analysts argued that the rate is not sustainable.
  • Oops: Musk admitted to CBS that automated production fueled Model 3 delays, and he was more direct on Twitter, stating, "Yes, excessive automation at Tesla was a mistake... my mistake. Humans are underrated."

The bottom line: Musk isn’t letting a string of setbacks temper his bold promises, even though more failures to deliver could shake investor confidence.

Go deeper: Via the Wall Street Journal, "How Tesla’s Elon Musk Makes a Strategy Out of Defiance."

Go deeper

WarnerMedia-Discovery merger faces questions over Latino programming

Rep. Joaquin Castro (D-Texas). Photo: Jacquelyn Martin/AP Photo/Bloomberg via Getty Images

Rep. Joaquin Castro (D-Texas) and Sen. Elizabeth Warren (D-Mass.) want the Justice Department to review closely a proposed merger of WarnerMedia and Discovery over concerns it could limit programming and opportunities for Latino creators.

Why it matters: Castro has been leading a campaign to pressure media companies to hire more diverse staff and produce more programming with people of color. Media mergers could make that more challenging.

Updated 2 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Americans shrug off Omicron, Axios-Ipsos poll finds — CDC director says number of U.S. Omicron cases "likely to rise."
  2. Vaccines: Omicron gives a shot to boosters — U.S. announces $400M for global COVID vaccine distribution — Vaccine mandates lose steam in the U.S. while Europe doubles down.
  3. States: Gov. Hochul will order some NY hospitals to halt elective surgeries — Nevada to impose insurance surcharge on unvaccinated state workers.
  4. World: EU drug regulator backs mixing COVID vaccines — Poor global equity likely in COVID pill access — CDC raises travel advisories for France, Portugal to highest level amid COVID surge.
  5. Variant tracker: Where different strains are spreading.

Mark Meadows will stop cooperating with Jan. 6 panel, attorney says

Photo: Chris Kleponis/Polaris/Bloomberg via Getty Images

Former White House chief of staff Mark Meadows will no longer cooperate with the House select committee investigating the Jan. 6 Capitol insurrection, his attorney told Fox News Tuesday.

Why it matters: Meadows, who failed to appear before the panel last month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.

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