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.
Generation Z's next battleground: lowering the voting age
Tens of thousands participate in the March for Our Lives Rally. Photo: Andrew Lichtenstein/Corbis via Getty Images
Washington, D.C. is on the verge of becoming the first major U.S. city to allow people as young as 16 to vote in local and federal elections, including for president — under a proposal that has gotten support from a majority of the District’s council and the mayor.
Why it matters: Lowering the voting age to 16 from 18 is a direct attempt to capitalize on the post-millennial generation’s brewing political activism and power that have been radically heightened by the country’s increasingly polarized climate.
What they’re saying:
Councilmember Charles Allen, a Democrat who introduced the bill last week, said lowering in a statement that the act would spur civic engagement:
“We have no problem collecting taxes or fees from residents who are 16 and 17 – why shouldn’t we fully enfranchise them?”
Scott Warren, executive director of the nonpartisan Generation Citizen, which advocates for youth participation in politics and one of the main architects behind the D.C. proposal, acknowledged that the effort is largely seen as partisan. But he stressed the fact that young Americans are increasingly registering as independent. "So we really see this as an effort to create long-term voter behavior," he said.
The other side: Opponents argue teenagers aren't mature enough to make informed decisions and have argue that it’s a partisan push to get more Democratic voters in the rolls.
Yes, but: Little data exists on the political views of Generation Z, which constitutes those born after 1996. William Frey, a demographer at the Brookings Institution, said attitudes toward diversity, culture and gun control offer a glimpse of their thinking.
“One of the key elements of Generation Z is racial diversity and we have an administration that turns it’s back on diversity … as well as a wide range of social issues from immigration to gay marriage, marijuana legalization.”
— William Fray, who studies the millennial and post-millennial generations.
The backdrop: Localities have been expanding voting rights to younger people since 2013 through campaigns supported by Generation Citizen. Warren told Axios his group is targeting cities in California, Colorado and Maryland.
No state has lowered the voting age, but some have passed legislation allowing teenagers to pre-register to vote, and participate in primary elections if they will turn 18 by the general election. Cities can only extend voting rights to local elections, but D.C., can allow people over 16 to vote in any election.
What’s next: A public hearing for the proposal is expected in June and a vote before the year ends.
