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... whatever you want to thank you for coming back we know it's been a really long day but this is this guy's a real tree and that's a acted to mail out again in the coming year but we we don t actually actually went back for a lot we actually had the ... corner in the ... South by Southwest ... and then everything else ... but he's a really interesting entrepreneur a very much a visionary many people think I'm ... I in space and in cars and an all or a letter on think things ... Yuan mosque ... so ... I ... so ... Worsfold thank you so much for coming ... and we are sorry for having corner Jewett by South West North nub R sound a bit of an ... important reviews but thank you to invest in ... I ... aam ... I'd like to start by coming year ... involved in ... several really cutting edge ... kinds of things they're cool ... but ... it ... let's talk from and about this ... the electric car ... which is really an old concept in the current rewrite it is back and ... bite him this in modern ... take on it ... I'm ... why are you and that this is an ... do you agree with ... what ... has been written about you ... that it's fair to say that you have proven this is ... a ... this can be sold at a profit ... in ... the in market conditions ... sure ... so ... the ... reason for Tesla was not because I thought that the ... there were some huge opportunity in an electric car ... or that there was some recorded best way to ... we get a return on investment is coming back ... um ... that that that means ... subbing apocalyptic electric car company would have to rank as one of the dumbest things ... you could possibly do ... on the scale ... okay I'm ... and ... it may seem ... like a meets today to improve but ... quite a ... by market cap ... Cisco's best to do ... um ... and ... it's amazing mobile business of them obviously a good thing to done but ... I'm ... for many years ... by people ... with ... you about this in effect what most people all muscle people provided as ... I've ... it's stupid or insane or both ... in it to the summit to stop ... it bigger exhibits is the reason for doing it was was not ... some thought it was ... some ... the great candidate ... on ... the existing printed on a table with and suddenly the company didn't ... over like falling off a lot ... when the ... real reason ... and ... it ... and says that ... the reason it was because of that he was given a quota based electric cars ... from the economy factors ... aam ... for for awhile then took between potentially way ... because you had ... the ... new one from somone stressful ... and seem like the obvious things do would then be to you these two TB three ... affected rumors that on that there were enough of that obsession today ... on ... and ... but they said what what was that was the service helps you change regulations they recalled the new ones ... um ... and just make sure that we get them back the treatment of John Jordan question ... aam and ... I ... and if you've seen the movie her cope electric car to go into the backseat ... but those customers ... I do best to keep the cars and when the cause which would take the job of crushed ... they held a candlelit vigil ... because the cars were leased to him at every was older I get a ... um ... that big of a camel additional as though someone dying ... um ... and ... I think that should be ... a pretty good wake up call ... if people will be controversial for products ... I'm ... Adam a dancer tells us has to get admission counselor ... I'm ... and ... yet ... so ... did did did did did that and and so it ... that so when ... they can ... sell ... the digital identities of ... the reason for ... photos the woods to ... assure that it did actually is possible to create compelling lecture Karp for dinner long-range card ... Mr. cards and if you did that ... that people would find it's ... because they're the ... Carter's years are printed on one of the fees to false promises when was that ... you could not make ... of them at ... a compelling electric car one that was the seventh grade appealing ... long-range ... informants for all these things ... and ... and that even if you double listings to climb trees opinion was that he would still the planet because it was less ... than at some point this fall ... when a gas bottle and what won't you into a legit what was the ECB's dining us he said in an accident like falling off a lot of these was easy to do ... why that area ... while it department ... oh it's the ... um ... that is the thing is and isn't porn between transition to sustainable transport ... and if we don't ... transition to stay north of Port ... o six but logically ... it's unsustainable ... and even if ... there were nods ... in environmental and ... the issue ... again if you're say ... hypothetically ... that admitting cotton was good for them are ... good um ... because of the scarcity of of ... of of oil in ... Africa as support ... the ... who would eventually ... face ... extremely high gasoline costs and ... the the the new cried the whole if we did not find some sustain Lumia stressful he worried the electricity ... that is generated and ... and use when the cars are recharged complaint and is ... set up a lot of is generated from coal was upon them ... yet the details on where your an untreated hopes to roughly half of that is ... it is ... not open to roughly half that is ... a hydrocarbon based ... on ... and the ... if however the stats ... due to their two daughters rebuttals that one is ... that ... if you take the same source to a new button at the top level ... you'll get two to three times the efficiency ... then as you pointed in the car itself ... because ... of the profitable cannot constrained by massive ought ... to have some it's big and heavy ... um and you can also take the waste heat ... and generate steam and in his tennis teams have been ... together for school car generation suit ... your ... Maxit truck or an edgy ... it is much greater ... position of how to do with the same to him in it ... in a mobile transported to tap formal constraints ... on ... and then the other factor is that ... when we have the points table means blog to see production annually ... um ... so ... if you believe in the predicate you can right the predicate and say ... given that we must have sustainable electricity production ... the oldest new passport is is like ... so when you took it badly these ideas of getting and in doing this predicament saying one thing that I think stuck a lot of people that use the scale of the mission ... our ... that it's not one that it's very difficult ... to that it's ... a little crazy ... our Bilas SX of the same time ... um what ... what what he will mention is that you've you've had many years doing this many critics ... have to make a you're getting a lot of lawlessness that subsidies and think that you but I bet that yet ... what what is the ... wind like these kind of projects they this is the bigger question elected ensure that the guarantee of ... the bigness of the project because there's been this the inner city littered with electric car ... funerals essentially ... and not as many Kesling vigils obviously a great ... time ... it could have been many ... car company failures such as electrical cords ... I'm ... and to suppress ... the kid over Christmas New Border Florian ... or or Tucker would need an idea of ... going into Afghanistan ... refinances the metal and ... um ... so ... did did did did that ... what does it cause I went in all things the board with ... the ... effect the world ... and ... and ... though there was a three-year areas that I thought would put most but the wealth and one way is ... internet ... on the ... good cup of coffee is a map of the missing bike ... after Pay fell asleep ... there there's a lot of really touched on tuners much capital to defuse the tension so ... does seem like a contest for the people in the country useful in an arena ... and so was ... testing cut to ... two of the ... B of the terrorists which was there when achieved ... and space exploration ... it's a good ... it offers a gorgeous tree to make my point is one of her ... so ... multi planter life is ... like the more inches and cars would get to that ... Shirley ... but I just asking other ... this is amply it's important ... it's very import the you've made an attractive car with longer range I think the new rite than people thought possible ... that select are ... all true ... aam ... but ... um it's fairly expensive I think ... and the stock for the ... yen and was a cost your most successful one ... well ... it did before ... tax credits but to me the snow ... it has put its like six to ... the ... hotel I get that were in effect a tax yet so ... aam ... you there's like ... some kind of federal tax credit write these words for buying a pure collectively five hundred homes ... and then ... you are tell me backstage ... I ... oh bunch of states fifteen states or something have these bright ... the visible pension credits ... of ... be ... that you ... do the same ... mission says that ... I'm ... you will think of like electric cars as receiving ... the subsidies but in fact what's occurring is ... that they are saving less subsea than gasoline cars can ... if you're actually that that that that the subsidy and efficacy costs ... aam ... and and sickly few price and economical emitter of environmental ... damages ... the ... what's really occurring is that every study by the casting card ... that there are cures of Stephen Carr ... dash to tell the use of these ... are all higher than they've ... been ... been been the subject collector cars ... one up buying electric cars except when ours ... the cute Easter upstream subsidies to the oil companies and support for the ... weekend ... there was the read a whole the whole tax yet ... this this this this summer with some of the copper trillion dollars in ... subsidies to look at but you do get ... you also get some ... federal and state subsidies Frank ... yes and then there's this um these credits that you are able to sell the other car does he explain what that is ... for ... sure I'm ... going to stick to its has been that it's it's it's pretty obvious that ... the the the ... a credit ... to what what is that deserve credit for electric cars are ... far less than guessing cause I was things like the ... Chevy volt will that ... is on leave with selling large quantities but they are not ... and so that that's like an ... obvious test ... I'm ... the band with respect to ... the service vehicle credits was the credits disappoints about forty percent of ... the ... top of yours population ... and the rest of the pace quite a while ago ... to deal with ... it ... pushing and pushing in ... on ... it ... in in in in in places like L a and ... the Bay area ... can you open so what to say ... what whenever you try to cars in the ... deaths of an error in your Scentsy emitting ... a bunch of toxic gases ... that negatively affect people's health ... and ... was deployed to be Aaron is ... pretty obvious and in ... their calculations ... um ... so that in order to motivate me Texas New waken that's ... the the ... in the States back to the second ... mandate which was that ... a small number of ... electric ... fields are emission vehicles have been made by Apple might kill me back its mythic if they don't make those ... pickles than a half to private just ... seven minutes from someone here who pass ... the word resellers of credit were solid and ... at sixty five cents ... on the dollar ... so the best thing that Mommy budget it could make with electric cars is a Miguel eversince middle of the tax credit ... so why don't I ... aam ... one hopes with a well ... timed ... I think to some degree the sum of the meat section so hoping that ... no one would come up with an electorate that let anyone wanted to buy them at ... the California The visits this would ... repeal this as mandates is that that lobbied for that outcome many times and ... the bus far been unsuccessful ... details of ... it ... because it was unsuccessful but I think they would of been able to ... repeal them and it's ... so when you getting into the that the concept of these cars it means prices are still ... my with subsidies everything else is so high priced and ... what is your goal is to bring in I mean you have but there's lots of people here on Tesla has ... yet to thank everyone again we're ... buying the ... he said but it doesn't look as good as it was something of a percentage of your honor customers are here but ... but what it is now has a larger country it far sighted or some individuals was the buzz ... of when to exit like to say suspicious attitude so intense they ... appear ... as large as to what the law will be the big the largest number of wrestlers in the US of a hundred cars for its project in downtown to get a scan of the stuff they say ... and so ... so that's a very good to ... see friends and I even had him get down to levels that ... Tony is up close ... and we don't return is up ... for a tie ... up so that every year when we first cut outs ... of actually living abroad piece says ... one of the strategy ... aam ... has been up there for a long time time ... that it would just point them to pursue a three step process that has those going through to get to mass market compelling but for cars ... is that one was making those are words that sets the high price though Boeing in ... the mid priced good volume and low priced ... high volume slows and ... there were sent to ... but the price of the bottle is a second lesson of the series but because ... the cost of gasoline is so much more than the cost ... of electricity that you save a lot of money ... now I might add and seven ... um ... and ... given that depend upon how you how to steer some were not in the fifteen to twenty thousand ... dollar region ... over the lifetime of the car with a ... bit of a ... set of seven years to get the goods ... to roughly ... two thousand dollars hit an employer sanctions forecasts ... prices are ... on the ... one will ever be of thirty thousand or ... thirty five thousand dollars Tesla ... yes the SEC three M expects in about three to four years ... on this um what's with party GE from here or there is it ... that you would design and technology and it yet get one email in KL or what ... well ... um ... the ... at ... as I think any any new technology needs of these three major iterations to get two of the mask off the midst of myself as a bathroom ... and many more than that ... I'm ... and to ensure you were to avoid the will Street one where is walking on the beach and ... China bric of a cell phone is there ... and that they were super expensive and a class of the feminist community ... that is what it what it was ... Catwoman crevices interior of the proper box ... um ... and ... it says the wood with electric vehicles somewhat due to compete with testing positive had ... a ... hundred fifty years and claims of dollars spent on them ... so I think if we can make it a buy out the ... generation that it's pretty awesome ... I'm ... serving this this ugly design optimization is this one factor and then the other is ... the call will be low but smallest maybe twenty percent smaller than the Model S ... and will have ordered banks to greater production estimate of economists they'll ... tell some of the best effect this will take us to do so and and ... and ... when will you be a point where if you if you didn't have subsidies ... or an credit sales you would be profitable ... um yes I think that ... we're anticipating being profitable ... or I should stay in bed and will ... Bevan slightly profitable ... in the fourth quarter this year ... I were were were projecting twenty five percent gross margins absence of credits ... apps and SAP SAP says it has still not getting this extra sense of what might ... not absent the tax so bright it yet and that is the consumer ... to the ... tax credit ... um ... which is this ... if it reads them and other groups the level of demand for the product ... of because it directly affect our gross margins ... aam and the ... says we get back ... to those who get a tax credit the consumer does not quite ... many companies raced to you in showing that their cars people there is an audience for this where the rest of these companies ... while mobile that's our results from the first quarter will always ... be a giver car companies since the ... electric car and it has to give it away ... but until now ... didn't really have a good ... basis for that ... it's that the limited time ... there is that what what are the examples of successful electric cars and we did have a Tesla roadster out there but ... the wrote that off as being something is really low volume companies' products would ... take a deep stuff that thing ... and and slick ... on the road that off ... pride ... I'm ... and ... um ... yes this is our Tiffany has been before we are able to get the routes corrupt them than they were to say when because we make that call work ... and then we made the call was that a woman is confined to men who boarded ... aam and then ... when does the Model S and ... does so many ... people pulled most of the matter is ridiculous ... I'm ... and ... and and yet actually the reason we don't bring it to market and where Ford's market is a boy you never can build Fears of going into that and then there was that you will never built a for profit limited than if you want ... some hopeful ... that ... doesn't fail to observe that is a trend here ... I ... the ... and it ... isn't just another we we haven't Opel ... I think ... the maintenance of the more likely to embark on ... a typical projects ... and and ... I'm ... Richard Rhodes to mention that we do to ... make them into conference for Tyler and Cleo to do ... so for the lecture truffle we make the basket packed the powertrain for ... Mercedes discusses coming up later this year we will be made that whole time ... I opened it and you feel of the Pharaoh and I mean a lot of the ... unite contains a car can say we want the debate to feel as if their opener thinking about that ... yell ... I'd I think so the the the the challenge ... is to convince them that it should be more than just a little miss from high brand or something ... yes um ... will will it make me totem its ... view describing hybrids that ... the ... Teva said that with her caught should be a mainstream item ... aam Thistle the report due on that front ... and ... until the mainstream item ... in terms of having enough but infrastructure charges obviously you've done a lot it helped that problem ... with range but ... still ... people want to ... feel like ... they're not can be stranded that are going to be charging stations I know ... then there was ... nothing about that for ... now ... read it yet ... I sit here now ... um well the ... now that you just said whatever that plan sponsors well ... the the the the ... um ... he ... kids are still quite retiring most rises on a groupie never do anything just ... now up in your times reporter for example writes ... did ... like the ... well ... service to its legal boosted the drudgery ... Bank ... village that which is in advanced wanting to go into that we develop ... um ... and the ... this was all the cabinet that when the the the ... the ... says it is hard to take notice of the technology and ... is the ... it's sort of go because of speed ... it could put Rogers been way too slow ... and and is not in effect is not effective for Landis troubles the ... which is is very important to address this issue once travel because ... of ... the ... Woodward killed by a car ... did this ... they're also twice there's a sense of freedom and ability to go anywhere that they want and not feel better ... on ... it's a so we had to make sewing ... that was really quick to try ... and says those with the story development ... Garcia a botched them out there now in California and on the east coast from flight to Boston to DC to ... tells the California Nevada ... and ... what will be what we were given us more ... aam ... is is that this this and a bit dramatic Iksil ration of the super charging network ... I'm ... and by the end of next month most Opel specific structure ... covered during ... class ... I'm ... where the the the the the the ... so if no deal be ... done ... this is actually a map that will be going tomorrow honestly I'm ... if you will be ... spiced with limits but ... um ... that that Tesla ... I ... the honesty of the space X yes ... exactly ... or if you want of lemon and meat aren't without its faults both ... it now ... because you calculate tangling with reviewers number of years given its due to good reviews ... I've reviewed here are four well I mean I should say actor does ... I ... thank you ... so ... so ... the Fed to supercharge network ... by the end of this year will ... look of it ... and most of them each the ... metro areas of ... the US and some cannot ... and in fact a wheel drive away from L a ... studio just using isn't optional ... the answer is that the is that also does that include not only putting in places where it doesn't exist today ... are also increasing the density ERDF Co steps that lead executive point ... that the density is not quite as good as it should be a steward with improving the density of supercharger stations ... on well traveled routes as well as increasing the geographic scope of the network that's hugely important it is such that it was even a telling the gum nuts but I think that ... it's like ... in the old days people ... would go on by desktop Tower computer ... and they would ... not buy one unless it had five slots for parts and when I was ... a loser people ... never open the Computer imported car then why didn't you did I mean a lot of people would be told by their taking friend ... kept if you know ... three empty slots refinements other but they never open slots and that even if you only drive your car ... commuting to work well within the range of the car and a few errands this to ... do is want that sense of freedom the civil rights and to act again in this part of second and goal ... from Boston DC DC years ... get this right ... I mean psychologically it's really very very important it is extremely important ... um ... and and that and so on and ... on to the visible tattoos all wireless be updated by it by the cell networks ... we actually update the supercharged locations in the hearts of ... it on that as the map if you just have to let me but in ... the lead to direct you to the nearest doctor ... says depriving to go ... where you want ... and ... it was the release later this year you'll be able to navigate a new in the country McCall were meant to run to suit the fund's long way ... and this is the one concern ... is that what you get back so part of the times I mean we joke about and think Apple one Many people don't do that what was the reason and a set a lot ... of rather then ... when you're on the thing is I cannot take this area ... yell ... well ... sort of sort of about a fair bit before action is going to isn't ... just in total the cupping ... um ... the ... bit between their ... dark was worse was published we sold a significant ... decrease in sales to clean and an mealtimes to mean readership there are a ... signal of these Demchak Lincoln called areas ... aam ... and ... the ... of the dogwood release of play to people's biggest fear about electric cars ... aam ... and that that ... that you'll run out ... and that they don't work in the cold which is ... actually ... completely false event that they do work really well with all the effect ... of highest sales cover and Norway ... I'm ... with a single person who took the single largest number as an individual oath of Tesla's which lead lives of sought Arctic circle ... life ... this is an ophthalmologist in it ... the yen's caught homes names we got ... some ... Wednesday's ophthalmologist was above the article Annie as awful bunch of electric cars yet the I just wanna get in one day I'm a slightly edited photo diode but the truth ... it's amazing and yet ... I'm ... any and every day takes on Electronic Hill also had ... to ... be driven through there like that you know ... Twitter which has come to mind ... aam ... and so does that work pretty well ... I'm ... and the ... effect of the nautical we we had some schools of which the noise I would actually had ... I'm ... so what did the mob lists Hess drive from ... an ethical was in the Arctic circle ... it ... too was low ... and you know as AMR viewer J we Bharti discussed and some people are in now but ... um ... so part of her view is ... factual ... this is actually what are other views the actual got out of ... hell ... it's good to tell any unexplained farther in a review ... his opinion ... the answer ... so forth but you have to state ... if you do expects to join like in my case it's it's ... a battery test on something active like ... this is how I did the battery test this is what the results this but I can and have an opinion you might have a different you might say well ... even if Ike said ... Moskowitz battery test ... I don't agree with him that this is good enough battery life I need better battery life so I think he's too easy on this front ... for the other way around to whatever so part of it is in fact I'm part of that is what it means you draw from that trip to the screen is this big ... the camera has this those are thoughts Asia was that was the added that the store the guys that there was news that is affecting ... the effect ... of the facts ... when we got the call back ... and ... we've we've we let that that that the bailouts ... and gas compared to the article that that was written ... aam and ... the of the art was actually correct ... and ... in in multiple places and in fact ... and then went to perhaps ascribe that to ... ALM ... starrer an artist puppet by the tenth ... the state in a row that is interpreted in the wrong direction that ... that lacks ... credibility ... um ... and so ... you know if if if we did is like a good bet that the testing on some thing ... and ... and and you can use ... he said ... actual information that was ... it was un true in a very important one ... I mean that that that's that's a big deal ... um ... and ... so if you're free to speak out against the dog would live forever and if you would have this was really wrong impression of the car ... anyone think that what he said ... if we did not oppose it was time to back down today ... actually the public editor of the times that investigation and concluded that ... that did that the article was was wrong ... when we disagree I just a Republican or over the motivation ... in those ... that forget it is the daughter was wrong ... it didn't agree that it was intentional ... where is ... that in my opinion it's the Pope's interpret that as anything but intentional ... and what then just close the soft wasn't there ... some country see about the fact that you had ... with sensors on the car that are normally sold on the car medicines that sensors okay ... so ... the Saints this is real important but ... space the final frontier ... for ... um ... are you what is your ultimate ... plan or goal for space exquisite you want to do with isn't just ... to prove that a private company can deliver steps in the space station or whatever all the nuts that its that that ... that that ... bit ago was a sex is to ... um improve ... rocket technology in states have technology ... and and keep ... keep improving in every year ... and so ultimately ... we ... were able to send people to Mars and stylish ... a self sustaining States on lawsuits that are due ... by the ... Fed ... to raise neglectful to tennis or is this thing ... um ... as those I'd ... I'd expect of those ... will less assert paramedic ... agree that this is not likely outcome but if we ... do not to keep improving of ... basic knowledge of the year ... then ... the package that will never ... happen didn't George W Bush want to go to Mars my kids have actually met the love that Saddam ... that's kind of put you in George W Bush ... was in the category is George ... II is is that they serve no AGW what I love that about one in the space program the first post in March right ... um ... yes the the the ... it or taste of the Bush ... shortly after ... getting off is actually asking us to come up with a plan in ninety days ... the four sitting on ... people to Mars ... and that's that that well with the planned that ... um ... it was how to in the office ... so he decided that maybe was in such pretty and I was mostly twenty years ago whatever was in ... the one among my Mars explain how to clear Lehman's what what what the headline ... I ... that that was the release was aperture down Nancy Reagan us this will defense budgets victim ... to one yards of white wine so for now this depresses him on when to space camp many years to admit that you've Sergey Larry Meghan and James talking here midyear bunch of you ... dear yesterday was able to bet that the business then I guess what why and and ... you know what religious Star Trek who owned or what was then what was the buzz this year and I know you listed that they ... know what ... that's double the twenty oh what what's the what's in your absence because you said a few minutes go ... that ... that there were three things that you are ... you know in a demo was the Internet what was the electric car Aneel was spacewalk what got you into space ... rights the ... if you could mean that the future humanity it's kinda fun only by advocates ... in two directions or life as we know it ... you that it's going to come off ... Terry ... was convicted fined one planets until some events would think that ... so ... I think ... it's much more about it that way but said Emata ... a lot of other I'm optimistic about life on that this was so I'm like I think we are usually late to my is what you're convinced there will be an extinction ... well I mean that's pretty obvious from fossil record I mean I think that I knew ... yes I mean is for sure ... and ... here we weave a stage is that the ... utensils and face ... because it could be on us yet exactly and and the ... yen ... not ... that Sony may do with yourselves an excellent better Dietze didactic so it's a lot of things that ... I'm ... so so the ... as the year we would have a future ultimately where humanity is out there exploring the stars ... understates thanks to ization ... and the things that worry about science fiction books and ... the Standard beast ... becomes truly no one but always to be a fiction of the future ... so ... if we don't improve ... space technology ... every year whenever they get there ... and so the ghost this text is to make as much improvement is possible ... aam and ... and hopefully ... we'll see we'll see people plan on was I not in our life has Tesco heavily traded at ... just after asking ... have you literally ... looked into our had someone look into our ... are they still look new chief for you with the good work truck ... I mean really ... Exxon is ... what you know this ... that they actually I seem to be ... aren't enough some breakthrough on mobile will drive thing ... on Tuesday can exceed the speed of light that technically ... it is possible theoretically possible to wall space itself ... that you know when you're in your in your local space time continuum not traveling past the speed of light ... but due to walking space upsets base is moving ... and ... and that's why ... that ... is that a ... white man ... I actually ... kind of ... he likes techs because the Starship Museum in Las Vegas assailants ... is it ... is that like in the fourth quarter or ... I the the ... on the Street Report exalted Lee ... Greenwood treadmill may not ... come to come to fruition but I think if we please have a base on one was ... that in a created a forcing function for the improvement is based Passbook technology ... aam ... and give this this chance of ever achieving something Michael will drive that would enable ... seventies Live gadget was a sunny spot ... but now the day ... I write a second to ... good movie but when ... it doesn't it's just it's referencing the news was happening that you have a very Elson Some produced in which it stands right aam enough ... what's happening now what's available now for us not what Dr not ... true for the beans or whatever ... the the the big breakthrough this needed in him Oaktree is to achieve the ... people we unwrap the reusable rocket ... um ... and it isn't what happens ... that was imported qualifications because ... maybe any other mode of transport ... like a ... plane or ... find carve ... anything force ... that they are ... reusable yes and and and they're reusable quickly ... taken ... Unit filly completely apart from maintenance schedules ... and yelling mom we had a Nenad states of the spill and ... anybody built to think was the shuttle right ... and that was what is evil but not quickly and there was only partly is also the main side ... tank that the big orange thing ... was of no use what was guaranteed to the extent one every time ... there was this attack and that that that that person was actually are endeavoring to which the ... over the plane caught in the side this is passed ... on to win a best case scenario ... that would not have been ... the ... reusable indigenous essential way ... um and then ... it took to an all ... in on the ten thousand people nine months to approve the shuttle to flight ... time for something on ... rapidly re usable time ... so ... in order to to how to break the week you have to have ... a foot of the reusable rocket ... we're making progress in that direction I'm hopeful that sometime in ... the next couple years will be able to ... achieve one of these goodie of the first dish which has about three quarters of a Qassam rocket ... aam and then with the future ... sign up picture ... she full re usable it's the ... and how long does it take to get to Mars ... with whatever the technologies you ... what what about the base of standard rock it's a low energy trajectory would be about six months ... or you can compress it down to three months ... without ... too much trouble an year now and and and there's no and you try them at ... D A humans on this rocket going a artists did ... so in and out ... are there any dangers I have read that there ... are reading and in danger what else to go wrong with the fact is that's ridiculous ... I ... this ... can ... be difficult ... the lights and ride ... a new high ... yes ... vice versa but ... yes it's it's the ... there's probably some challenges one way that ... um and I think it ... is possible the remake of working on the blog soon for the Swiss vote if you've been a binding in laws of physics ... I'm ... it's it's old it's old it's it's difficult but achievable ... and I think were should really try our hardest ... to do ... to make it happen oh one Mars ... the law was the silly things were really really ... um ... creative self sustaining civilization up on the ... planet scale can you ... explain this weekend until alrite I felt a bit as well ... so ... um ... it ... Intuitive the investments are bad ... I'm ... for Greece to close the sun Venus yachts yet and yet ... I mean the the the rocks Nelson workers ... um isn't out yet ... see the um ... and and and the nurses told it pretty pretty high to its oval hundred degrees ... and I've been the mistress high pressure and as a civic ... says the high pressure putt acid bath so ... we actually thought of having a D cup yet ... I ... Urwerk as did the this can be very challenging ... and then of Mars ... Mrs this is on the other side of that and it's the ... it's it's colder than ... that it's ... it's the that that the tantrum was actually gets above groups of fruit ... on it ... a hot day in the summer ... um ... and the ... review could warm was up over time with greenhouse gases into the off subordinate ... I ... or the greenhouse gas and whatever that you think the majestic Lake all the phone all the GM cars there again ... but for the Mars atmosphere is it's primarily from the outside which shows you how long it's been a four billion years to know about that last week that things are also of slowly warms up a plan ... yet ... I was that they come towards the deficit that if you are good but we can talk about the cabal we know we have that it's been a ... big big sectors of ... the most is the ... the unit as ... it is awesome it's a fixer upper of a planet that we could put the bacon was the ... I ... seventeen do you do you want to go there yourself anything you might die in Iraq an accident right that it is to provide an impact in Brighton and impact that you don't like dying there ... in a mini ... book is considered a means of Wednesday night's ... anywhere ... you who've done was ... I'm going with a white that yet ... so that they could get a read ... the vineyards the ... sink the the ... the the things are committed to going on ... I think it's the truth when to ... to to meet and akin to a party on people mistreatment ... if you look the Future Bennett's inspiring exciting ... thing in the futures of better ... better than the present Ortiz has a good chance of being better present and I think that's ... that's the ... main driver ... for me it's it's it's like okay ... will we have more dissipates financialization ... of ... or will we be confined to do ... when think of is much better if it was full of ... the Iraq in store for doing payloads and it's a busy trying to business other than to correct him and then go to the zoo we were going to keep space X or that they're both right ... and ... so the ... it was basic says this is ... of florescent lights for commercial customers ... Andy's bass fishing ... so the Singapore NASA Stewart ... who won the camera contracts to his position ... transport cargo to from ... this position that would be ... the only profit blueprints that can talk about from ... stay safe but it's not ... readily re usable yet ... cracked ... its on it so you're in it each year breakthrough in the census them ... to do what NASA and the Soviets used to do or still do to some extent it's it's still do it ... but to do it in a prompt or via a private company ... yes I passed up the outbreak is the star on this basic side are are are of ... incremental in nature nor revolutionary ... and and the aspiration is to two of the revolution a picture ... of the threat that the costs of the propellant in the rugged is only about point three percent the cost of the ... vehicle ... so it's it's maybe a couple hundred thousand dollars to rebuild Iraq it's done ... and where's possum sixty million dollars ... um ... and ... which which has been mixed as did the plane cyclists as a plain Hospices were killing when ... my big big difference ... um we would never to be fine if you have to buy new when every flight ... um ... now ... now ... well although United showed the rights but they are that has come a time when the service when some of those United with dad ... is a little one has to ... be a nice things you do on a stuffed on a busy fellow ... and what will your heroes ... who are you what inspired him to be this ... um ... well I think ... it ... generally ... of of of what you've read my and and just recently ... and ... scientists engineers and technologists in general are some bigger mire Tesla the cause of of ... I'm ... and to um ... and many others ... the ... value of its people even at times I was like Tesla Edison to let people sometimes are ... surprised to hear that it's become nickel Tesla ... um ... and the ... new ... Einstein Newton ... I'm ... just ... like Darwin ... I'm ... a big fan ... of a Ben Franklin magic uses in ... forcing the ... example of a great human being in history ... in ... salute to the ... going to bed ... are there obviously you've ... for one of the pioneers of of import an Internet company at PayPal ... I'm ... a J P what did anybody else in the town of nineteen area inspire you ... may not be still a speedy mentioned are ... really great geniuses but they were then ... forthcoming book well before the ... more scientists an a and and and banners ... well before the ninety s era urgent is too early in the power of the Atlantic City and ... that my anyone is the tree is ... working hard to cope with some great thing minutes ... with the veneration the ... end ... of August it's ... hard not to force like Steve Jobs ... I'm ... you know ... both dates ... the entrants are present data on the town of Baar tapes depend line ... the ordinance to get them this is pretty awesome ... um ... the ... and then of probably ... many many journalists ... the weather gets jealous so now I know ... what you hear Exec fate ... but when you talk about that and the Internet of today how we look at your in a very clear part of the internet that was you know in you I remember your in ... your Mr. web of when Alec their rights and then you didn't echoes of the cars I remember the to some car picture yet ... and for sure fee and McLaren F one write ... exactly is the the workplace now ... oh well I guess you know what that is a good thing to me and another to please us actually do ... a bill ... we don't impose them ... you know and love of the IDX saloon when testing car which is the ... sixty seven series one e type Jag ... aam I don't know it's a great job ... the most I have lots of five and a lot and ... I'm ... don't winner when it was the ... so to begin college they were ... trading at the McLaren F one and just intrigued with the botanist will be ... really done right ... and and subtle with if if if I'm a nobody that ... I'd I'd buy them with ten points the ... players living in a public Intel Malta ... I'm ... that the cost significantly less than the car ... remember that picture yet received upgrades the house will buy the car ... it's good ... to know what the car ... then we'll carry that time I was actually in the mess was in front of the Dewas clan symbol of the time ... you know um gags ago I was and really if I wasn't the best idea but ... I'm ... today was in effect today was his company was this show ... and ... which is like if ... the fizzy beverage you showed your resume but it was cool Silicon Valley Coal brush and um ... and it is the cliff Bowman ninety nine ... in its ninety nine ... and to ... um ... and so it will mean giving the McLaren ... and the ... I'm a number of other people as well ... on the force that we could go work out I was who would of been extremely embarrassing July crude Dylan are some of the that that was pretty excited about giving ... so why would we ... can and today with Emirates Christensen's about purchasing an ancestor ... I'm ... what you think of them abreast of the space the photo sharing is the meaning was given your daughter Mars in everything there is that with that that that I mean people are like body ... the giving of us of the Jews animated ... a lot of people ... narcotic said I love though they're scared it's a great ones of silly but it's not going ... it's not have been hard to Planetary habitats brands like a different thing now or even ... a Seattle a drive from New York to L a on electric ... power ... electric power windows are twenty think of when you look at the end ... when he with that with developing and what's happening ... well I mean I think that ... I'm actually ... not dismissive of all things like for like Twitter sharing Apps McMahon the the ... the the ... the images lot of things where with it provides a small amount of value to a lot of people and that for this sums up to some large value and that's that's all good ... if you were able to share ... photos of their friends and family in a better way to maximize veteran ... aam if ... it if it's that it's a high value on the company's the Soviet me that smile about ... I'm ... and the ... Manatee River ... an enormous the event of a lot of talented people a ... lot ... of hard news ... this compass and ... those in the internet arena ... I'm ... and I figured drifted some of those people would would actually go to other ... every step that could use their talents in the silly thing ... but I would say let ... this concept summons summoned the retail assets rose to its all-time Valley any Fed very smart guy ... he said he knows a lot of big money is chasing small ideas have been ... Anqi I ... and sometimes in the ninth ... kind of silly building elite wellies are fantastic and yet ... like everyone's making Twinkies right to bring ... the level and ... added debt ... this is probably ... I'd I'd recommend that that people consider Korea's outside of the Internet ... I'm ... because this this this lot of places loaf of industries that ... could use ... that on the real talent in this the skills that you will clients in creating companies ... aam ... and to ... the ... yen and is actually a lot of up to the ... and in these industries sickly once where ... the ... dividend could dominated by an All itself the posting ... so the companies for a long time ... Argo Cuisinart ... or ... two of his mouth is our top ... grade at ... innovation innovation comes from new entrants to an arena ... and so that when industry has ... had the absence of new entrants intends to to have ... very limited innovation ... which also means that if he did get a ... new break on through the other side and ... there's love offshoots the ... World Cup and this has created their ... when you doing next isn't ... enough ... time for the peace lasted for ... them what they really are but with cousins physics for one time but is there one other renamed to have a solar single a ... gap of effect advantages ... but that's ... what that as people ... describe the success of Seoul's the beats me but it's really should be ascribed to that ... because my cousin's of O'Connor's the ... been there I've ... been a pleasant strategic advice ... aam and I suggested that they ... your company in the solar arena ... um ... but the pages of the vast majority of the credit for or that the outcome in the ... district of eastern districts ... I ... well we can see St husband and I wait in line said to me he was and why would they wanna hear he's not a technologist to say in Alannah ... I don't know what gets uploaded onto the ... internet to what I like Digital lifting its Legos like a cable things that so I think it when exactly did you go ... nothing digital Tesla ... that would arrive this bill paying more ... um ... that is yes ... the ... the seasonal things digital and physical from Spain ... I'm it's it's the Christian servants people hoping all thing was that our new name well one day but we were served there can ... I'm sure he was orphaned Sherpa ... Elan ... um ... the ten year for many years and all is the new for many years of the oral was inspired to CC jaunts to ... the honest we all miss him deeply ... but somehow your presence during your inspiration ... really ... eases up and so thank you for coming ... the the the the the the the ... beyond that is what I do you have that we've discussed before which was hyper loop and ... the price I would love for you to spill this audience what that is and how it to change the world again ... thank you ... yes ... I feel it that that that's the question if I do ... it will ... there will be winners tomorrow ... I'm ... aware as I need to do that as the news ... um ... did that ... yes ... um ... so ... yes ... I think probably built spoke about the hype with my day in ... here pretty soon ... this is a Tesla Nelson we've got next month or use it for ... around two twentieth or so ... and I think ... um ... I think so at some point after that would ... like ... to ... the best to cope with ... that that that that ... will be a good time to talk about the hype we buy debt ... for those unaware the basic ... sort is ... um ... it is is there a better way to travel quickly from ... it's a ... downtown L a to downtown Santas to all the latest interest to ... them that's better than the ... high speed rail listing for parties because ... high-speed rail ... that the sort of urging a rethink about here is this a better way to do it because the has to grow the scheme proposed ... to be the slowest of office was open world and was expensive from while the well ... which has ... been one of the supposedly what people have liked our internet ... has affected ... um ... that is gets into it ... you're thinking this ... it sold oppressing sister of ... how the something that's ... but this was a bullet train will then Intel pointed at enormous cost ... and isn't this something better that we could come up with that something betters the Heifer loop ... well I think so lovely I don't know what that means yes ... I'm ... that I wanna run on the gap ... I think I can even even if that even if I'm wrong about the ... economic assumptions behind the hype believe that you would still be a really fun ride ... but even if only one of the DeVore exists today with the really ... I ... um ... since they ... claim is not an all male it's ... what you get some transport initiates a cross between ... a Concord derailed ... Concord N derailed ... that ... but you're not a unit that I don't want to Nielson their decision to make it sound even ... more ... to do more bizarre ... um ... if this is cause for Concord a real gun ... and there on the table ... the ... what did that the UAE Oman and the baby somehow the view that one ... I ... I like the the ... the the the the the ... okay let's go let's go with ... this idea to sit still is and has happened in Atlanta baby we love the way as ... each and Maxwell House ... since ... since you're feeling sale increases to get the when are you planning to take the first people open doors that whether it's the space station or did the lower whenever ... she wants to go Afghan yes absolutely and Woolworths were working on ... him were conversant to the Dragon spacecraft and to um ... in question with with with mass that so this is ... that ... the masses that NASA the biggest customer ... will the rules expected to ... transport the offences and ... and when we were able to elicit this the first flights in and of people and two to three years ... the interview ISI under ... my spelling ... I know ... I'm retiring on Mars that night yet ... okay I guess or hear Allison Sheridan's Liikanen I'm in the culinary labor based in saying that we can lead to the camera ... um think their presence at AllThingsD a couple years ago I did get a chance to drive the Tesla roadster ... was so much time go I scared the guy Dell began their respect um when someone did ask about was we talked a lot here about the theme park to stem education ... and training currents that has been suggested that part of our strategy really should be integrates them tight people and I'm just guessing that with your back on the vs an interesting perspective on the ... north ... all are welcome ... what the data ... yes ... but I do think we've we've we should be read with that many of us some ... really talented ... the students ... at American colleges ... it's a busy to send them home will force them to go on and on this this ... so that we should have some reform immigration policy that ... actually has presence ... in our grief for recruiting a mission to collect ... but if you if if this company ... this is a community working hard to recruit ... top people and use the loo and expelling ... I'm ... going to be crazy so wish that we have summer fall in the front ... um ... and it doesn't get the benefit of other countries but that of the ... Minogue ... we should try to have him stay here I think ... um ... and with that with respect to use to stem in general ... to to to prevent there are ... exciting technology projects that kids in school ... can read about and and ... and say ok I've ... liked the ... artwork will come out of the fun of that ... um that is what force people into ... the science and technology ... um ... and like that the biggest thing I've been in history that is ... on on the front than it was the top or perhaps ... I'm ... that led to ... the point of any ... single thing has been more awful ... in controlling kids and that they liked look Laursen sentiment ... Allah help make that happen or or or ... and and can go beyond that's the ... thing I can see this when when to have ... them those projects that the kids can read about in one of the part of the school and ... and and that will really talking as we just touched on immigration ... can you explain ... what happened with the ... political lobbying effort stir bite marks on her Disney World you worse yet order of the venue ... was true along with some others what was that all ... yes um ... so it would miss a winner is ... in a country that are part of the full with ... us ... because ... the ... I'd I did with the immigration reform and we need to do but some really critical is to ... use them ... and I'm there some other things that that ... Paulson it's the ... the on on the agenda ... I'm ... so what else was bad and ... a bit better I think that ... the the the the the methods that were employed there was little too much of the Kissinger s rail politic ... unit than that that wasn't ... I think we should ... try to make things happen for ... me to write a reason ... and and ... and the ... and who should or should give in to the cynicism of politics religion and worship but businesses ... um ... the dividend if it if we ... don't defeat ... to any instant cards that then ... will get political system which is of ... the the the the ... at the evening cooking ... you ... can sign in with CNN ... you are given the runaway success and reviews of the Model S you have to believe that the other car makers are to be killing four years so I'm wondering ... how the companies to keep its competitive edge because you know that success can be a fleeting moment ... also when you think that the ... electric vehicles will overtake gasoline vehicles and finally wondering if you have a message for the nation's oil companies ... um ... why I really hope that a ... lot of companies ... make a concerted effort to create electric vehicles ... and hopefully if it has the ... pics ... competitive electric cars than well deserved to be around and if we don't then we ... don't let fear I mean ... I'm ... you know I'm optimistic that will be a will to ... make good products come and ... and so far from being concerned about ... the car companies coming in and we're actually doing our best to convince them to make collector cars and effects make profits for them ... um you know from where they owe us is ... so ... I hope they ... are limited success the Model S a and and that encourages them to ... make a big move into electric cars ... um ... to school in the oil companies ... the the the the tricky thing is ... the witnesses to the setup because we have ... and and high-stakes announced the with the strategy of a common problem with this kid to pass to the ocean snafus fair ... the ... incentive structure such that ... the BBB ... Ditto companies how five ... it is hard to ask ... ask the CEO of an oil company to act against their best interests at best the pain ... it ... in fact if they do ... that that that the might of fire by their ... other shareholders ... so the of the right things first duty is to change the rules the game so that it can sense the right behavior ... um and that's why I'm entered the labor of love a carbon tax is his right way to ... go ... and ... you really don't even have to Mr. we changed enough money that that ... a weak lead from far off from the ... tax base but ... I do think it's sensible to ... cope with a disproportionately tax things that are these have all likelihood of being back ... to disagree on this level will ... tax ... tobacco and alcohol ... on ... the back of the plea is that it is bad and it's well established ... fact ... when we should ... disproportionately taxes Sears commissions ... I'm ... and the Dominican ... but the right to hear will occur ... so I mean ... the hope of a one-time ... condemning the oil ... and gas companies ... I ... the because we're in the the the the current ... system and sends them to ... to bad behavior ... I'm ... tax that tax gets passed along go do Consumers Will to Lead Percy coming ... no on the city ... even if if if if if a man of revenue ... being ... generated is the same ... um it's it's nothing to do for them but ... given that we need to collect this a lot of money to pay for the Fed will cover ... and ... I how we collect that is to get this ... defect like that in a wide range of ... why brains wasted been effectively what were doing as were saying a portion of somebody slave a ... pass to go to federal govern activities ... um and ... it doesn't ... Unisys up in a negatively affect the economy really ... how how we collect that money ... to me think it ... has ... been in effect the drought has it's it's the same ... since a certain amount of ... money collected to pay for the federal government ... slice of rebel XT need to change the Mana money race that we need to wait to sport the things that are more likely to be bad ... then dumping some more likely be cut ... I'm ... I guess we'll unwrap have an issue with oil and gas guys is when they entered ... this ... Sunday's edition nefarious tactics ... and to ... four things that are somewhat someone insidious ... I collect funding academic studies ... but he would command point here is the they have ... some credibility ... I'm ... and and and and some prominent professor somewhere ... I'm ... but the episode such as it has been paid off by the by these ... well industry to write that that's done it's the ... I'm ... so that the capping of sea should be conveying ... the content of the strongest words and ... I'm ... and I'd recommend people read ... a book called legends of Dow ... the Fed actually ... spells out and thinking to tell ... how ... some these things are going on ... we're ... Ms ... Boyd S history ... is ... when you choose to create apps and that that that's what they've done effect ... but actually employed ... looking up of individuals and firms ... that were employed by the tobacco industry like a literally the same people ... X Prize this research was all around the like ... in ... the final ... um ... I ... that that that in some cases quickly the same people been employed by lowered estimates for it ... I'm ok you get to the specs that ... we'll have a couple more quick question ... I asked ... Jared said that thank you so much for coming on ... my classes but stay stocks sell at ... even without a fully and properly resemble rocket you still managed to reduce the cost to Orbitz ... by the ... order of ... magnitude or more just with ... more ... incremental improvements in so ... I've ... firstly at what point did you feel like this is an opportunity existed in the space feel and act ... secondly are there other Carl opportunities in other areas that you wish ... somebody else which case even if you don't personally if I get to the mall ... for ... Stuart to work with us this exit is I think ... I thought the most likely outcome was that were fed ... I'm ... effective but there was really ... very likely that with its physics would fail ... um ... so that ... it was really with expectation ... of success thus far the company of the state ... of ... the ... the ... but what it is clear that we could ... make a significant breakthrough was looking at the ... but the costs of Iraq and instead of looking at it ... with reference to ... what other office of costs in the past ... a circle whether the rugged made it ... one of them choke constituents of what what metals iPhone five or what what what ... are the bears which rules the concert erupted ... and if you had a palace which bills ... are eighty four units with magic one would benefit costs to both ... aam and ... that is remarkably small number ... of ... years was maybe ... a few percent to one or two percent of what rock it actually cost ... to clearly people were doing something silly in time how they were putting the trails together ... and so just by eliminating those ... this of ... course things were able to make profit ... for much less ... I'm ... and ... and then then ... and ... hell was that ... he was noticing it with you ... one could achieve ... for referees bully beat ... I'm ... because of its gravity is right on the cusp of where that's possible in our hearts when in order to Chevedden really ... everything is going to be ... done super to the well every aspect the vehicle ... I'm ... designed to be two or three years ago ... the Patriots to about a quarter was actually ... up achievable ... and to an odd coincidence achievable ... but it's ... this along with ego between here and there and as mentioned before I was not yet recovered a single rocket stage ... so we along with ago ... ok I think this lesson the last question ... Highland Creek star for cross specific Apple opened up to a question for EIG store perks with its ... US headquarters in ... when we in nineteen ninety scaled up the Lexus dealership network it was pretty tough ... I wanted to get an understanding of what kind of innovation in or bring in terms of the service area ... I it generally takes three hundred dealerships to support ... five hundred thousand units in ... the doing a tremendous job which I admire ... and want to understand what year plans are because eventually the middle part the country will begin to understand ... the revolution happening ... on the east and west coasts ... how will you um ... make that happen in the dealership network and service ... yes well ... it's it's it is in fact the last the ... performance has been ... my main focus that as well ... and that it was ... if it wants to address our service was ok and ... in some cases quite quite back to when asked about that the weird services Tesco ... yet we we ... I'd say we we had some pretty nine or so the situations probably in mid January ... every time frame ... busybodies deadly better ... I'm ... and the ... like resemble L a was was a Palm pre teens ... for really long time as we will ... worse was the threesome is the most open and payments would lean into them to offer one that capacity ... aam ... says the swatches job ... was to break down them was an experience ... of it but don't rule ... I'm ... certain our good will to open things what better ... time ... but that is contiguous to the words used to scale service ... across the country and in its national restructuring in Europe in July ... I'm ... so get out of the proof that any ... the Minibar insights that you probably only Polymetal Wilkinson ... it's a bit ... it ... you could have really good diagnostic schools ... do we do have an advantage in that the car ... that ... has so much intelligence and a killer self diagnostics ... and ... and and we think we're you know what what what what what needs to ... fix the car before giving comes in ... I'm so the Stuart to be more efficient and so this ... I'm ... and a menswear announced recently you is that ... I will balding ... on ... the speed and ... will likely have both the sport this the fate of the service loners ... so that when if your car ... breaks down ... what will do several sent out a service of ... which are car breaks down ... or need so this of ... we will ... time ... to ... go to where you are is ... to replace it with ... what ... oh what about awful and cost Atsuko slurs or not ... this means that it was there actually ... that that awful and talked ... I'm ... and global sources ... that Dell is so slow that were the Arctic your car to get good service and then ... an entertainer car when it's done so ... the ... experience should be really seamless ... I'm ... and I he's really feel like a ... but ... you should ... you see you've you've got actually an even better car than the one ... that you had said this ... for some period of time ... Anna was nine trough until after the vessel was supportive and Lexus that ... did this to some of the ship Lexus says the full ballet thing or not that the ... submit that the service Partner ... program which was done done really well ... the line thank you sell the the the the