 So Tesla just held its annual shareholder meeting in Mountain View, California, and the timing is super important. Elon Musk almost lost his chairmanship of the company, and he faced serious questions about Tesla's finances and future. That's because right now, that future is looking more uncertain than ever. My trust in Tesla's timelines sort of eroded a little bit with the Model 3 ramp. This is like, I'll tell you, the most excruciating hellish several months I've maybe ever had. We've made a lot of mistakes with Model 3 production, but we recognize those mistakes and we're confident we know how to address them. Reliability and capability of autopilot will increase exponentially over the next 6 to 12 months. I think I do have like an issue with time. This is something I'm trying to get better at, so I'm trying to recalibrate these estimates. So why are investors so nervous? Well, first of all, the rollout of the Model 3 isn't going well. This is Tesla's cheapest car yet, and it's the key for the company to go mainstream. The Model 3 is also Tesla's best chance to make its first-ever profit. It says it right here in Tesla's quarterly financial statement, Our future business depends in large part on our ability to execute on our plans to manufacture, market, and sell the Model 3 vehicle. And then a little further down, it reads, We have no experience to date in manufacturing vehicles at the high volumes that we anticipate for Model 3. But so far, the Model 3 production has been a mess. Tesla failed to hit several important deadlines. There have been major bottlenecks in the factory, as well as a few fires, forcing the company to shut down its assembly line so it can fix the problem. Meanwhile, almost half a million people who have reserved Model 3s are left wondering when the hell they're going to get their cars. So the goal was to be making 2,500 Model 3s a week by the end of the first quarter, but as of April, Tesla was barely managing to make 2,000 cars a week. The new goal is to make 5,000 cars a week by the end of the second quarter, and that deadline is coming up fast. Meanwhile, there have been a bunch of investigations into unsafe working conditions at Tesla's factories, and the company is burning well over a billion dollars in cash every quarter, prompting questions about Musk's ability to keep Tesla afloat without raising more money. Its stock price is trending downward, and Musk is complaining about big media on Twitter. The stock price suggests investors aren't happy, and some stockholders have even filed a class action lawsuit claiming Tesla made false and misleading statements about the Model 3. And we haven't even gotten to autopilot. That's Tesla's super-advanced version of cruise control that takes over a lot of the driving from the driver. There have been a handful of nasty car crashes in recent weeks involving autopilot, including one that resulted in someone's death. The feds are investigating, and these incidents are raising the question, is Tesla marketing autopilot correctly, or is it possible that the system isn't as safe as the company says? Musk is struggling to produce a mass-market car. If the Model 3 fails to live up to its potential, that means Tesla's valuation is all out of whack, which will probably cause its stock prices to fall even more. And if the stock price falls more, then Musk might not be able to raise money, Tesla will run out of cash, and the dream of a mass-market electric car will be dead. If he succeeds, then all that skepticism will shift to one of Tesla's other future products, like the Tesla Semi-Truck, or the next version of the Roadster, or the Solar Roofs, or the mysterious Model Y. Tesla can barely manage to handle Model 3 production. How well do you think it's going to do with the rest?
 So Tesla just held its annual shareholder meeting in Mountain View, California, and
 the timing is super important. Elon Musk almost lost his chairmanship of the company, and
 he faced serious questions about Tesla's finances and future. That's because right
 now, that future is looking more uncertain than ever.
 My trust in Tesla's timelines sort of eroded a little bit with the Model 3 ramp.
 This is like, I'll tell you, the most excruciating hellish several months I've maybe ever had.
 We've made a lot of mistakes with Model 3 production, but we recognize those mistakes
 and we're confident we know how to address them.
 Reliability and capability of autopilot will increase exponentially over the next 6 to
 12 months.
 I think I do have like an issue with time. This is something I'm trying to get better
 at, so I'm trying to recalibrate these estimates.
 So why are investors so nervous? Well, first of all, the rollout of the Model 3 isn't going
 well. This is Tesla's cheapest car yet, and it's the key for the company to go mainstream.
 The Model 3 is also Tesla's best chance to make its first-ever profit. It says it right
 here in Tesla's quarterly financial statement,
 Our future business depends in large part on our ability to execute on our plans to
 manufacture, market, and sell the Model 3 vehicle. And then a little further down, it
 reads,
 We have no experience to date in manufacturing vehicles at the high volumes that we anticipate
 for Model 3.
 But so far, the Model 3 production has been a mess. Tesla failed to hit several important
 deadlines. There have been major bottlenecks in the factory, as well as a few fires, forcing
 the company to shut down its assembly line so it can fix the problem. Meanwhile, almost
 half a million people who have reserved Model 3s are left wondering when the hell they're
 going to get their cars. So the goal was to be making 2,500 Model 3s a week by the end
 of the first quarter, but as of April, Tesla was barely managing to make 2,000 cars a week.
 The new goal is to make 5,000 cars a week by the end of the second quarter, and that
 deadline is coming up fast.
 Meanwhile, there have been a bunch of investigations into unsafe working conditions at Tesla's
 factories, and the company is burning well over a billion dollars in cash every quarter,
 prompting questions about Musk's ability to keep Tesla afloat without raising more
 money. Its stock price is trending downward, and Musk is complaining about big media on
 Twitter. The stock price suggests investors aren't happy, and some stockholders have
 even filed a class action lawsuit claiming Tesla made false and misleading statements
 about the Model 3.
 And we haven't even gotten to autopilot. That's Tesla's super-advanced version of cruise
 control that takes over a lot of the driving from the driver. There have been a handful
 of nasty car crashes in recent weeks involving autopilot, including one that resulted in
 someone's death. The feds are investigating, and these incidents are raising the question,
 is Tesla marketing autopilot correctly, or is it possible that the system isn't as safe
 as the company says?
 Musk is struggling to produce a mass-market car. If the Model 3 fails to live up to its
 potential, that means Tesla's valuation is all out of whack, which will probably cause
 its stock prices to fall even more. And if the stock price falls more, then Musk might
 not be able to raise money, Tesla will run out of cash, and the dream of a mass-market
 electric car will be dead. If he succeeds, then all that skepticism will shift to one
 of Tesla's other future products, like the Tesla Semi-Truck, or the next version of
 the Roadster, or the Solar Roofs, or the mysterious Model Y. Tesla can barely manage to handle
 Model 3 production. How well do you think it's going to do with the rest?