Uber stock jumps, Tesla stumbles after Elon Musk’s Cybercab reveal

As a seasoned analyst with over two decades in the tech industry, I have seen my fair share of grand promises and underwhelming deliveries. Tesla’s “We, Robot” event left me feeling like I had just watched a well-choreographed dance routine by Boston Dynamics’ robots, impressive but ultimately lacking substance.


Tesla’s big technology showcase appears to have missed the mark after an underwhelming series of announcements and reveals at the company’s Oct. 10 “We, Robot” event in Hollywood, California. 

In response to the recent event, the company’s shares have dropped by nearly 8%, but during the same period, Uber’s stocks have increased by about 9%.

At the showcase, autonomous vehicles and a humanoid robot named “Optimus” took center stage as they unveiled two new Tesla concepts: the “Cybercab” and “Cybervan.” These vehicles were displayed without any steering wheels or methods for human operation.

At the recent event, Elon Musk, CEO of Tesla, didn’t provide any signs that Tesla has successfully developed the fundamental technology for self-driving cars operating without human intervention.

Contrary to what CryptoMoon stated, he once again reiterated his long-standing views on the security and financial feasibility of possessing a self-governing automobile, without providing any updates or demonstrations about advances in machine autonomy.

Cybercab and Cybervan

During the event, the two significant unveilings were the much-awaited “Cybercab”, a robotaxi, and another supposed self-driving vehicle, creatively named “Cyberbus”.

Uber stock jumps, Tesla stumbles after Elon Musk’s Cybercab reveal

As per Musk’s statements, the Cybercab is expected to be priced under $30,000 and is set to hit the market within the next two years. He describes it as a more secure mode of transportation that aims to alleviate traffic jams, save lives, and offer an opportunity for its owners to join the autonomous ride-sharing economy of tomorrow.

Uber stock jumps, Tesla stumbles after Elon Musk’s Cybercab reveal

A new vehicle, similar to the Cybercab and Cybertruck in design but without any “add-ons” like video game skins, was also unveiled. This autonomous passenger van is said to accommodate up to 20 people, but the company has yet to announce a launch date.

As a crypto investor, I’m eagerly anticipating that, as per Musk’s assertions, the long-awaited full autonomous driving feature will become available for Tesla owners with the Full Self Driving software package and subscription by 2025. However, it’s important to note that this rollout is initially planned only for drivers residing in Texas and California.

In both states, autonomous vehicle testing is currently permitted within certain designated zones. However, it remains undetermined if Tesla has received special authorization to run their self-driving vehicles across the entire state, or if they are merely participating in the ongoing local pilot projects.

Optimus and autonomy

At the end of the day, it was Tesla’s Optimus that truly captivated the audience. The company displayed various humanoid robots at the event, some even engaging with attendees in unique ways. A few played games of “rock, paper, scissors,” others carried on conversations, and a group of five danced together within a glass enclosure, showcasing a synchronized routine.

At first glance, the displays seemed to captivate the audience, yet upon closer examination of the technologies showcased during the event, it was evident that Tesla hadn’t made significant strides in the areas of robotics, self-driving cars, or artificial intelligence.

In the field of artificial intelligence, there have been countless instances where simple robots are capable of engaging in discussions with humans and mimicking human-like interactions.

By the year 2016, Hanson Robotics’ “Sophia” had already demonstrated conversational skills similar to what we see today. A variety of videos also showcase Boston Dynamics’ Atlas and Spot robots performing synchronized displays of speed, strength, agility, and entertainment.

In the end, Musk envisioned a time when Optimus would function more like a helpful friend, assisting with daily tasks.

“It can be a teacher, babysit your kids. It can walk your dog, mow your lawn, get the groceries, just be your friend, serve drinks. Whatever you can think of, it will do.”

However, Tesla failed to provide specifics about the method or timeline for developing such a robot. Moreover, they have yet to tackle the regulatory hurdles and safety issues associated with manufacturing an autonomous consumer robot.

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2024-10-13 19:37