Original photo by Charles Sykes/Invision/AP. May 7, 2018 Elon Musk attends The Metropolitan Museum of Art’s Costume Institute benefit gala celebrating the opening of the Heavenly Bodies: Fashion and the Catholic Imagination exhibition in New York.

Comments by Brian Shilhavy
Editor, Health Impact News

I watched most of the Tesla Shareholders’ annual meeting last night, and in my opinion it mimicked an Evangelical church worship service. Musk even admits that Tesla shareholders’ meetings are not like boring shareholder meetings of other companies, but more like a “cyber punk night club”.

But to me, it looked like a Christian worship service.

The first part of the meeting was about business matters, and once that concluded, it was time for the worship service, with Elon Musk functioning like a “Pastor”, giving his utopian vision for the future, where there will be no poverty and that everyone can have anything they want, where money won’t even be needed, and prisons will be eliminated because Optimus robots will get rid of all crime.

He states that this event (annual shareholders’ meeting) does not just start a new chapter in the history of Tesla, but a “whole new book.”

In other words, a new religion with its own new “bible”, with the religious dogma described as: Sustainable Abundance.

This was most definitely a worship service, worshiping Elon Musk and his Techno Prophecies for the future.

I have created a clip that is just 15 minutes long (and Musk speaks very slowly and even stutters sometimes, so you can watch it at a higher speed) which defines this new religious belief, centered around the Tesla Optimus robots.

You will notice that nothing was said about Musk failing to keep his promise from earlier this year that there would be at least 5000 Optimus robots purchased this year (none have been sold so far.) And yet, he is now promising to produce about 1 million next year.

And there were only two Optimus robots on stage, each standing about 100 feet away from Musk, and only standing or dancing. They did not talk, and they did not interact with Musk at all. You can see what look like antennas protruding from their backs, which are apparently linked into a WiFi network to control them.

Here is a partial transcript:

And those bots are just dancing. There are no wires. Those are actual robots.

I’m going to say a bunch of things that I probably should not say. But that’s what keeps it interesting.

I mean, have you watched any other annual shareholder meetings? I mean, it’s like…. if you need to go to sleep, sure. Those shareholder meetings are like snooze fests.

But ours are bangers. I mean, look at this. This is sick.

It’s like a cyber punk night club here, with real robots just standing there, and mulling around and dancing.

The scale of Optimus is really going to be something else. I think it is going to be the biggest product of all time, by far.

Bigger than cell phones, bigger than anything.

Every human on earth, is going to want to have their own personal R2D2 C3PO. So who wouldn’t?

But actually Optimus will be even better than them.

I think there could be tens of billions of Optimus robots out there.

We are going to launch the fastest production ramp of any product… ever. Starting with building a million unit production line in Fremont. That’s line 1.

And then a ten million unit per year production line here (Austin).

I don’t know where we are going to put the 100 million unit production line. Maybe on Mars, I don’t know.

I think it’s (production of Optimus robots) going to literally get to a million a year, maybe even a billion a year.

People often talk about eliminating poverty, giving everyone amazing medical care.

Well, there’s actually only one way to do that. And that’s with the Optimus robot.

With humanoid robots, you can actually give everyone amazing medical care. Optimus will be more precise, ultimately better than the best human surgeon, with a level of precision that is beyond human.

We’ve always talked about eliminating poverty, but actually Optimus will actually eliminate poverty. Optimus will actually give people incredible medical care.

We may be able to give people… if somebody’s committed a crime, a more humane form of containment of future crime.

If you say you now get a free Optimus, it’s just going to follow you around and stop you from doing crime. But other than that you can do anything. It’s just going to stop you from committing crime. You don’t have to put people in prisons and stuff.

And things do get wild from an economic standpoint.

With AI and robotics, you can actually increase the global economy by a factor of 10, or maybe 100. There’s not like an obvious limit.

Optimus is kind of like an infinite money glitch. Maybe there won’t even be money in the future.

Money might be measured in terms of wattage. Like how much power can you bring to bear, from an electrical standpoint.

I guess what I am saying is, hang on to your Tesla stock.

At that point everyone clapped enthusiastically, with I am sure a bunch of “Amens!” being shouted also.

Musk mentioned an author who he says best describes his vision of the future, Iain Banks, and his books on culture.

Here is a description of Iain Banks:

The Culture series is a science fiction series written by Scottish author Iain M. Banks and released from 1987 until 2012.

The Culture is a society formed by various humanoid species and artificial intelligences about 9,000 years before the events of novels in the series. Since the majority of its biological population can have almost anything they want without the need to work, there is little need for laws or enforcement, and the culture is described by Banks as space socialism.

It features a post-scarcity economy where technology is advanced to such a degree that all production is automated. Its members live mainly in spaceships and other off-planet constructs, because its founders wished to avoid the centralised political and corporate power-structures that planet-based economies foster.

Most of the planning and administration is done by Minds, very advanced AIs. (Source.)

Musk makes many claims, as always, that are at this point pure fantasy, but that he claims are “facts” about Teslas, or about to become facts, such as falling asleep in your self-driving Tesla and waking up when you arrive at your destination, because it can fully drive itself, something that is NOT true today.

Even the few Tesla robotaxis that are now on the roads in limited capacity have a human being sitting in the car on the passenger side in the front seats, as well as humans behind the scenes remotely controlling the vehicles.

But in spite of that, Musk wants you to believe that there will be a million of his new robotaxis (“Cybercab”) without steering wheels or brakes on the roads starting next year.

Notice how he claims they will reach a million a year in production of the Optimus robots, but that each successive year there will be a new and updated version of Optimus at that production level.

What is going to happen to all of those older used robots as people discard them for updated versions?

Musk says there will be billions of them.

What do you do with all those lithium battery powered hunks of metal once nobody wants them anymore, or they are no longer updated with newer software and are then discarded like old Apple computers?

While the members of Musk’s Tesla congregation continue to adore and worship their pastor, many on Wall Street are beginning to wake up to the con. Not just the con of Elon Musk, but the entire AI frenzy that is inflating probably the largest economic bubble of all time.

This was an article published today by Brett Arends on the Wall Street publication MarketWatch:

Elon Musk’s trillion-dollar pay package is another canary in the coal mine

Excerpts:

Is Elon Musk’s newly approved $1 trillion pay package yet more evidence that the stock market is in the midst of a dangerous, even surreal, mania?

Sure looks like it.

And if that’s correct, it’s yet another reason to check how much risk you’re taking in your 401(k), individual retirement account and other accounts. That includes not only the total percentage invested in stocks, but also which stocks.

Why is Musk’s outlandish pay package a warning sign?

Forget the optics of this arrangement. Just look at the math.

For Musk to get this reward, Tesla’s market valuation must skyrocket from $1.6 trillion today to $8.5 trillion in 10 years’ time. The stock would have to rise from $446 to just over $2,400. That’s a compound return of nearly 20% a year.

And Tesla’s earnings “before interest, taxes, depreciation, and amortization” must hit $400 billion a year. For contrast, the company says adjusted Ebitda last year was $16.6 billion, a decline from $19.2 billion in 2022.

So, sure, getting to $400 billion should be a piece of cake. That will involve growing earnings by a mere … er … 37% a year, on average, for 10 years.

Good luck with that.

Oh, and, for Musk to rake in his trillion, there are all sorts of product milestones — robotaxis in operation, robots sold and so on — that the company has to hit, as well.

Bull markets “die on euphoria,” said the legendary investor Sir John Templeton. The signs are all around us. It’s not just at Tesla.

When AI chip giant Nvidia hit a $5 trillion market value the other day, I did some back-of-the-envelope calculations of what investors must expect in order to own a stock that expensive.

Just for them to earn 10% a year, Nvidia’s value will have to hit $13 trillion in 10 years’ time. And if Nvidia by then is still trading on, say, 25 times forecast earnings, it will have to bank just over $500 billion in net income.

Net income last year: $73 billion.

Kupperman calculates that tech companies are on track to invest roughly $400 billion in data centers this year.

Using some unchallenging assumptions, such as depreciation over five years, he estimates

“the industry probably needs a revenue range that is closer to … $320 billion to $480 billion … just to break even on the capex to be spent this year.”

“You’d need approximately $1 trillion in revenue to hit break even, and many trillions more to earn an acceptable return on this spend,” he says.

But the actual revenues from AI are running at maybe $15 billion to $20 billion a year, he says.

Or, to put it another way,

“the industry is spending over $30 billion a month (approximately $400 billion for 2025) and only receiving a bit more than a billion a month back in revenue.”

Nobody knows when a bubble is going to burst.

Warren Buffett during the dot-com mania compared it to dancing in a room without clocks.

But one thing they all seem to have in common is the suspension of disbelief. And, apparently, a suspension of their belief in math.

During bubbles investors, like the White Queen in “Alice Through the Looking Glass,” come to believe “six impossible things before breakfast.”

In the aftermath of the infamous tech-stock bubble of 1999-2000, Sun Microsystems CEO Scott McNeely mocked the gullibility of stock-market investors who had chased stocks to ridiculous levels.

After walking them through the numbers implied by tech valuations at the peak in early 2000, he asked fund managers:

“Do you realize how ridiculous those basic assumptions are? You don’t need any transparency. You don’t need any footnotes. What were you thinking?”

Full article.

Another thing Musk stated in his worship service was that Tesla will soon start producing their own chips, suggesting that the production of these power hungry chips is the bottleneck currently preventing them to scale production.

But the AI industry as a whole admits that the bottleneck in scaling right now is NOT the production of the computer chips, but the ENERGY needed to run AI.

Here is what Microsoft CEO Satya Nadella said earlier this week:

Microsoft CEO Satya Nadella didn’t mince words in his appearance on the Bg2 Pod with investor Brad Gerstner and OpenAI’s Sam Altman.

The tech leader made a startling admission that the biggest problem facing AI expansion right now isn’t chips — it’s power.

In what was a rare moment of candor, Nadella confessed that Microsoft has some of the most cutting-edge GPUs sitting idle because there’s basically nowhere to plug them in.

“I don’t have warm shells to plug into,”

he said, referring to unfinished data center facilities that don’t have power or cooling capacity.

It’s a stunning admission from arguably the world’s most resource-rich companies, and a potential reality check for the entire AI boom.

With industries across the globe racing to build smarter machines, it’s hitting a very human limit; there might not be enough electricity to keep the dream running. (Source.)

Last week, a press release of a new personal robot called “Neo” designed for people’s homes, just like Musk’s Optimus, was covered in the Wall Street Journal, which story you can see here:

https://www.msn.com/en-us/money/other/i-tried-the-robot-that-s-coming-to-live-with-you-it-s-still-part-human/ar-AA1Pmu8J

These Neo personal robots are already being trained and mass production is supposed to start next year, along with sales.

And while the founder of this company also draws upon science fiction from Hollywood for his motivation, much like Musk, he is much more honest about what is involved in training and maintaining these kinds of robots.

He admits that his robot cannot work without a human being controlling it behind the scenes, and he deals with the privacy issues of that person behind the scenes knowing everything about your private life in your home, something that Musk and Tesla never discuss.

He also admits that robots can never replace humans, let alone the “best surgeons” in medicine as he states:

“Biology actually did a pretty good job. It’s very hard to actually come up with something that works better (than humans). And believe me, we’ve tried.”

So he personifies “biology” rather than giving credit to God as the master designer of human beings.

Watch the interview below, because everything he says about Neo applies to Optimus as well. He is just more honest than Musk.

But the idea that robots like these can be scaled at the levels they claim to make them affordable to the masses, is pure FAITH.

Related:

What Magic Show and Lies Will be Sold to the Public in Tesla’s Shareholder Meeting this Week?

Comment on this article at HealthImpactNews.com.

This article was written by Human Superior Intelligence (HSI)

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