[TAG0][TAG1]
- Elon Musk warns that the next 12 months will be difficult for investors and predicts "a ChatGPT moment" in Tesla's history.
- The tech boss highlights the pressure on banks and Twitter's poor state at the time he bought it.
- Musk's best 15 quotes from Tesla shareholder meeting and interview this week.
Elon Musk spoke at two public events this week on a wide range of topics, including artificial intelligence, Twitter, working from home, Federal Reserve Policy, China-Taiwan Relations, and more.
The Tesla, Twitter and SpaceX CEO spoke at the Tesla shareholder meeting on Tuesday and in an interview with CNBC. He attacked OpenAI's ChatGPT, warned about the stress in the banking industry, and predicted that the US markets and economy will be difficult over the next year.
Musk also emphasized Twitter's dismal condition when he purchased it last year. He accused the Fed for relying outdated economic data and praised Warren Buffett's Berkshire Hathaway's high-quality leadership.
Musk's best 15 quotes have been lightly edited to lengthen and clarify.
1. "I will say what I think and if that means losing money then so be it."
2. "I believe Tesla will have an ChatGPT moment. If not this year then I would say next year." Musk was referring Tesla's plans to activate the full-self-driving mode (FSD) in millions of vehicles around world.
3. It was like being teleported in to a plane on a nosedive with its engines on fire, and no controls. He was describing the feeling of taking over Twitter last October.
4. It was funny that when I proposed the acquisition at first, they said 'Hell No'. They took a poison tablet, saying that they would rather die than to be acquired. They'd prefer to chew cyanide. A few months later, they put a gun in my face and said, "No, you have to acquire us." That's quite a change." (Musk was reminiscing about how his Twitter deal turned out.)
5. OpenAI is not possible without me. It wouldn't have existed without me. I created the name. "I fully admit that I am a complete idiot." Musk was talking about ChatGPT and lamenting that he didn't get some control in exchange for funding it.
6. It seems strange that something open-source, non-profit can somehow become closed-source, for profit. It would be the same as funding a group to save the Amazon rain forest, but they turned into a lumber firm and cut down the rainforest and sold it for profit.
7. "The arrival of artificial general intelligence has been called a singularity, because it's so difficult to predict what happens afterward. This is a very double-edged blade. It's very likely that it'll make life better, and we'll live in an era of abundance. There's a chance it could go wrong and destroy humanity. This chance is not zero, but hopefully it's small. "We want to do everything we can to reduce the likelihood that AI will go wrong."
8. "We must ensure that we do not have a Terminator-type scenario. This is very important. "It's fun and games, until Terminator appears." (Musk described a possible AI disaster.
9. "The idea of working from home reminds me a little bit of the fake Marie Antoinette quotation, 'Let them eat Cake'. Stop being so morally superior about the "work from home" nonsense. Laptop class lives in la-la land. They are asking others to refrain from working at home when they do. It's wrong." It's wrong."
10. If you are a bank, and you don't know if you will be alive or dead, this is a big distraction. When they are on their way to the grave, it's not their first thought to increase their auto loan portfolio. Musk was referring to recent bank failures, rescue deals and the chilling effect they have had on lending.
11. The next 12 months are going to be tough for everyone. Warren and Charlie said at the Berkshire Hathaway annual meeting that this year's Berkshire companies would make less money. They're well-run companies. "I think this is true in general for the economy."
12. My advice is to not look at the markets in the next year. If you see a dip in the market, then buy it. "I think you won't regret it because the market will rise again."
13. "Raising Fed rates is like putting a brake on the economy. The Federal Reserve's decision-making process is too slow, which is my concern. The data is a bit stale. The Federal Reserve raised interest rates slowly. "And now I think that they will be slow to lower rates."
14. "China's official policy is to integrate Taiwan." You don't need to read between lines, you can read the lines. There's an element of inevitability about the situation. Take their words seriously. "They mean it"
15. No one realizes how similar the Chinese and global economies are. It would be like separating conjoined siblings. This is the seriousness of the situation. It's worse for many other companies than for Tesla. "I'm not certain where you're going to get an iPhone for example." (Musk was highlighting the risks associated with mounting US-China tensions.
—————————————————————————————————————————————
By: tmohamed@insider.com (Theron Mohamed)
Title: Elon Musk predicts a ‘ChatGPT moment’ for Tesla, warns of banking woes, and expects a tough year ahead. Here are his 15 best quotes this week.
Sourced From: markets.businessinsider.com/news/stocks/elon-musk-tesla-twitter-ai-chatgpt-banks-fed-economy-buffett-2023-5
Published Date: Thu, 18 May 2023 12:18:12 +0000
Related posts:
Elon Musk warns stock prices could fall, promises not to sell Tesla stock next year and attacks the Fed during a new interview. Here are the top fourteen quotes.
Elon Musk predicts a US depression next year that could last 18-months — and warns investors about being cautious
Elon Musk suggests Warren Buffett run the US Treasury. This could be done in less than one hour per week by the investor.
Elon Musk’s 10 most interesting quotes from Tesla Investor Day include: horses, magic, flip phones, AI, and wizards
Leave a Reply