Tesla’s price cut highlights Elon Musk last advantage in the EV market

[TAG0][TAG6]

Matt Turner is the Editor-in-Chief of Business at Insider. Welcome to Insider Today Sunday, our round-up of the week's top stories.

Today's agenda:

• The wild world of celebrity speakers, fueled by drugs.
• Amazon's internal guidelines for managers show them how to deal with pay concerns.
• Why real estate agents will not survive the housing crisis
• Mark Suster was the star of LA’s startup scene. Not everyone is a big fan.

But before: Tesla keeps cutting prices, making investors nervous. Below, I explain the latest.

If this was forwarded to you,


sign up here


. Download Insider's app


here


.

Teslas are cheaper than ever

[TAG1][TAG7]

Are you in the market for a brand new vehicle? Elon Musk hopes that the recent price reductions will make you consider a Tesla.

Tesla has dropped its prices six times between 2023 and now, the Model Y is available at a lower price than the average vehicle after tax credits.

First-quarter deliveries are up 36%. Last week, earnings for the first quarter showed a massive drop in profits. Tesla's shares dropped by around 10% in the last week.

The billionaire may be looking to the one advantage he has left in the EV industry.

Mercedes-Benz is leading the way in autonomous driving. While Tesla has been slow in releasing new models, rival automakers have unveiled flashier and more exciting EVs. Tesla is able to cut prices while still generating profits. This is something that rival automakers have difficulty doing in their EV business.

Stephen Beck, the founder and managing director of cg42 consultancy, told Insider that Musk's competitors have similar concerns.

Beck added, "I know most competitors will be saying 'oh man, come on'." This makes the road to success for them a lot harder.

Insider's Alexa Saint John and Nora Naughton reported that Chinese automakers were giving US car manufacturers a run-for-their money, which could force Ford and GM into making some difficult decisions.

Wild world of celebrity lectures

[TAG2][TAG8]

Celebrity speakers are used by companies to entertain and inspire their troops who have been drained of energy due to pandemics. A keynote speech by Arnold Schwarzenegger, or a Q&A session with Serena Williams can cost up to $500,000 per hour.

It may look like a simple gig from the outside: show up, deliver a prepared talk, and get a large paycheck. David Kushner, a writer and former speech-booker, reveals that the lecture circuit can be much more wild. Kushner tells you about his experiences with celebrities like Spike Lee and Hunter S. Thompson, as well as the dirty secrets of the Big Talk Industry.

Internal Amazon guidance

[TAG3][TAG9]

Amazon wants its managers to stress the "long-term" value of stock and "ownership" of work during annual employee-compensation reviews that started earlier this month. Employees and managers should not be able to discuss individual performance ratings, or pay of other people.

These are just a few of the talking points that Amazon managers can use to prepare for discussions about pay with employees.

Read more about our scoop here

Read also:

• 
  The Q&A guideline Amazon provides to managers about how to respond to questions employees have regarding pay.
  

Crunch time for Realtors

[TAG4][TAG10]

Homebuying frenzy of the pandemic seems a distant past. Real-estate agents are forced to make a tough decision about whether their efforts and money invested in their business is worth it.

Real estate agents now have to compete for fewer listings as rising interest rates scare both buyers and vendors. Many won't make it through the housing crisis.

More about the Realtor Washout

Read also:

• 
  Landlords are being held accountable for buying thousands of apartments
  

LA's startup star

[TAG5][TAG11]

Mark Suster is the managing partner at Upfront Ventures and has become the face of Los Angeles’ booming tech scene. Mark Suster hosts one of the glitziest summits in technology, which includes Gwyneth Palotrow and Alexis Ohanian.

His aggressive, no-holds-barred approach has alienated many investors and founders who claim he is condescending, aggressive and egocentric.

Click here to read the full story

This week's quote:

You put us in this situation, without any help. Everything is amplified. It literally destroys lives.

• Katie Warren, Insider, spoke with Nick Thompson. He was a contestant in "Love Is Blind" season two. You can read our full report by clicking here.

More of this week's top reads:

• Remote work: The real reason employers are frightened by it
• What Goldman Sachs first-quarter earnings means for CEO David Solomon
• Want to fix up a house in Japan? A country house in Japan is available for only $25,000
• In the first week, 12 percent of managers have fired Gen Zers.
• Check out the most outrageous designs from Larry Page's failed flying car company.
• The leaked documents show Shopify's plans to use a'stealth-spearfishing' recruitment tactic.
• The CEO of the company that went viral with his "pity-city" comment about bonuses has apologized to employees.
• Discover the 113 most influential people at Warner Bros. Discovery.

Matt Turner is the curator. Hallam Bullock, Lisa Ryan and Lisa Bullock edited the newsletter. Subscribe to Insider Newsletters.

—————————————————————————————————————————————
By: mturner@businessinsider.com (Matt Turner)
Title: Tesla’s price cuts highlight Elon Musk’s last advantage in the EV business
Sourced From: www.businessinsider.com/tesla-price-cuts-elon-musk-last-advantage-2023-4
Published Date: Sun, 23 Apr 2023 14:33:16 +0000