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This Is What The Cyber Rodeo Means For Doge
Last Thursday, Tesla held its Cyber Rodeo to celebrate the opening of Gigafactory Texas in Austin.
Billed as the biggest party on earth, it did not disappoint.
The Cyber Rodeo could prove to be a turning point for Tesla, which is shaping up to become the world’s dominant electric vehicle and tech company.
Let’s take a took at some of the mind-blowing revelations that came out of the event, including a few tantalizing appearances from Doge.
Tesla levels up
Thursday night, Tesla held its Cyber Rodeo to celebrate the completion of its Gigafactory Texas.
The opening of Tesla's global headquarters in Austin marks a "new phase in Tesla's future," Elon said.
Giga Texas is the largest factory building in the world by volume, capable of holding 194 billion hamsters.
Tesla's Austin opening took place two weeks after its Berlin Gigafactory opened. The EV maker now has six factories, including others in Fremont, Reno, Buffalo, and Shanghai.
The new factories are a part of the vision as laid out in Tesla's 2016 Master Plan, Part Deux, which set a goal to scale vehicle production as quickly as possible.
Elon kicked off the party by announcing that Tesla is "going to move to just truly massive scale, a scale that no company has ever achieved in the history of humanity."
Speaking in front of a packed crowd, he shared several other optimistic predictions for Tesla's future:
Full self-driving AI, in his opinion, will "transform society" and "revolutionize the world."
Tesla is planning on building a new Robotaxi that will look "futuristic."
Giga Texas will aim to become the highest-volume car factory in America. It will produce Cybertrucks ("our magnum opus"), roadsters, and semis.
Tesla's goal is to produce roughly 20% of vehicles worldwide "to transition the world to sustainable technology as quickly as possible."
Tesla's Optimus Robot, which could start production next year, will "obviate what an economy even means" by doing any work humans don't want to do. If it does what it's supposed to, it will create "an age of abundance."
With oil prices skyrocketing across the globe, Tesla's production surge is well-timed.
Not only is it lapping the competition in AI and battery technology, but it can churn out more EVs than all other automakers combined.
If Tesla delivers on even a fraction of its goals, it looks poised to become the world's dominant car and tech company. Wow!
Few companies have the power to move the needle more on worldwide crypto adoption than Tesla.
The Cyber Rodeo had a number of hints that Dogecoin continues to figure into Tesla's long-term vision.
First, in the hours before the main event, several attendees posted videos of a floating 3-D Doge image being projected on a factory wall.
After an introductory video, Tesla put on a drone light show.
At one point, the drones formed a giant Doge.
A shrewd observer from the MyDoge wallet team pointed out that the drone artwork after the Doge was of a hedgehog from Tesla's payment confirmation webpage, suggesting that Doge payments could be forthcoming.
Later, during Elon's presentation, someone in the crowd shouted "To the moon!"
Without missing a beat, he responded, "To the moon, indeed."
Tesla started to take Doge for merch purchases three months ago.
Q1 earnings call takes place on April 20th, affectionately known as Doge Day.
It would be an exciting time to share data on Dogecoin sales and find out how much dog money Tesla has accumulated so far.
No matter what happens on 4/20, there were big hints during the Rodeo that Doge and Tesla have a bright future together.
It's been almost a year since Tesla paused accepting Bitcoin payments for environmental reasons.
At the time, Elon said he'd resume taking Bitcoin once mining uses greater than 50% renewables with a positive future trend.
According to the most recent Bitcoin Mining Council report from Q4 2021, Bitcoin mining now uses up to 66% renewable energy, a 10% increase from the first report.
Bitcoin has been the target of polemical environmental attacks for years.
The latest iteration of this critique comes from the corporate ESG movement—short for Environmental, Social, and Governance—which gives businesses a social credit score based on a variety of metrics.
Contrary to the mainstream narrative, Bitcoin has the potential to revolutionize sustainability by monetizing green energy anywhere in the world.
Now, Elon is leading the way to providing solutions to make Bitcoin mining more sustainable.
It may be time to replace old narrative with a new one: Bitcoin mining will benefit the environment in the long-term because it can accelerate adoption of renewables.
The West Texas news is also a sign that, after a year of behind-the-scenes activity, Tesla might be ready to ramp up its crypto strategy.
At the moment, the only crypto Tesla accepts is Dogecoin, though it has held 90% of its original Bitcoin purchase.
The big question now is, when Tesla resumes accepting Bitcoin for vehicles, will it take Dogecoin too?
Ode to Doge
Tesla's Cyber Rodeo could mark a turning point in the company's history.
With six factories on three continents, Tesla is poised to dominate the EV market for the foreseeable future.
An amazingly diverse company, Tesla also expects to unveil advances in AI, robotics, and sustainable energy in the coming years.
Crypto is part of this forward-looking vision. More than any other automaker, Tesla has embraced blockchain.
It appears Tesla is developing a two-pronged strategy that involves boosting renewable Bitcoin mining and using Dogecoin as a transactional currency.
It's still incredibly early in the story of crypto, but it looks like the pace is picking up.
To the moon, indeed!
Dogey Treats: News Bites
After becoming Twitter's largest shareholder, it was initially announced that Elon will join its board. Twitter's current CEO Parag Agrawal tweeted a message of welcome, as did former CEO Jack Dorsey, who said he'd wanted Elon on the board for a long time. Elon even posted a meme declaring "Twitter's next board meeting is gonna be lit." However, on Sunday, news broke that Elon had reversed course and would not join the board. In response to the news, he posted a cryptic emoji suggesting there was more to the story, and liked a tweet suggesting that he was "told to play nice and not speak freely."
In the days before the reversal announcement, Elon posted several tweets about the state of Twitter, noting that most of Twitter's most-followed accounts do not actively use the platform. He asked, "Is Twitter dying?" and drew attention to "crypto spam accounts that twitter constantly shows as 'real' people."
To address the spam issue, he floated an idea for allowing regular people people to get verified on the platform through a $3/month fee, and proposed an option to pay in Doge. He also posted a poll showing general distrust in legacy media and wrote "69.420% of statistics are false." Users have noted that, at some point over the weekend, he deleted several tweets about Twitter, including a poll to remove the 'w' from its name.
In the wake of the Twitter board decision, speculation has picked up that Elon will buy more Twitter shares. A condition for his joining the board was that he not own more than 15% of the company, an agreement which he no longer has to abide by.
The Hill's Kim Iverson analyzed Elon's criticism of the ESG movement
MyDoge Social wallet has successfully integrated with Twitter, allowing users to tip each other in the comments section by using a bot.
A Center for Automotive Management study named Tesla as the world's most innovative EV manufacturer.
Starbucks is getting into NFTs this year.
The 4th island boy was announced.
Russia is making the case for owning gold, according to Peter Schiff.
Dogecoin made it onto the final canvas of Reddit's r/place.
2 million Robinhood users have received crypto wallets.
In a poll of 18 to 35-year-olds across 11 countries, 40% of respondents said they planned to use cryptocurrencies to pay for goods or services in the next year.
An Unusual Whales report found that, in 2021, only 3 hedge funds beat the S&P500, but 35 politicians did.
Elon liked a tweet linking to an article that showed Doge as the most-searched crypto in the US.
Bill Lee offered 10,000 Doge to anyone who got a Cyber Rodeo tattoo.
At Bitcoin 2022, Peter Thiel called out Jamie Dimon, Warren Buffett, and Larry Fink as members of a 'finance gerontocracy' that have prevented Bitcoin from reaching $100k.
Falcon 9 launched the first all-private human spaceflight mission to the ISS.
Netflix released the documentary "Return to Space" about SpaceX.
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Disclaimer: This is not financial advice and I am not a financial advisor. The article above references an opinion for entertainment purposes only and it is not investment advice. Always assume that the author of the article is actively trading and that the opinions expressed may be biased towards the author’s holdings. Do your own research and consult with a licensed financial adviser before making any investment decision. Do not treat any opinion expressed in this newsletter as a specific inducement to make a particular investment. Content, news, research, tools, and securities symbols are for educational and illustrative purposes only and do not imply a recommendation or solicitation to buy or sell a particular security or cryptocurrency or to engage in any particular investment strategy. The information provided is not warranted as to completeness or accuracy and is subject to change without notice. The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, are not guaranteed for accuracy or completeness, do not reflect actual investment results and are not guarantees of future results. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, cryptocurrency, or financial product does not guarantee future results or returns. Dogecoin is a speculative and highly volatile asset susceptible to pump-and-dump schemes.
At the time of publication, Dogecoin is around $0.14 per coin.