Tesla's "Cybertruck" is shaped like a trapezoid
Hey Snackers,
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We're crafting this Snacks newsletter on our way back from recording our first live pod straight outta Spotify's new stage in New York.
While markets were busy dipping yesterday, Apple and Tesla demanded your attention. More on both below.
Tesla unveils (and starts taking pre-orders for) a rad-looking "Cybertruck"
It's a trapezoid... Just days after Ford unveiled its Mustang e-SUV, Tesla hit Detroit below the belt with its first pickup truck. "Cybertruck" was unveiled last night by a proud Elon Musk. Starting at $39,900, it looks like a senior graphic design student's art project.
Blade Runner (2049)... Elon claims Cybertruck's design was inspired by the 1982 Harrison Ford flick that took place in a dust-filled futuristic November 2019. But we're wondering if it'll even see the streets by 2049. Tesla's Model Y crossover still isn't available and there's even more than that in the backlog.
- The Tesla Roadster: Unveiled November 2017 with an insane 1.9-second 0-60 mph acceleration — still not available for sale.
- The Tesla Semi: The tractor trailer looks Terminator-villain inspired, unveiled November 2017 — still not available for sale.
- The Tesla Cybertruck: Unveiled November 2019. Available late 2021 (allegedly). But Elon claims its "exoskeleton" is bulletproof."
Pickup trucks are like diamond rings... the more you spend on them, the more you'll brag about them. Other Teslas look sporty, this looks spooky — and it's aiming for sales from pickup truck buyers who may go function-over-fashion. But if they come around, Elon could mess with Ford, General Motors, and Fiat Chrysler's profit puppies: pickup trucks.
Apple's biggest lobbying move yet: Tim Cook + President Trump
Designed in Cupertino. ~~Assembled in China~~... Assembled in Austin. Apple makes almost all its devices in China — except fancy priced-like-a-car Mac Pro computers. Those come out of a Texas factory owned by a company called Flex. And Apple CEO Tim Cook just hosted President Trump there (+ Ivanka + Treasury Secretary Mnuchin) to show off future Apple expansion plans in the USA.
Apple got shined... That presidential factory visit didn't boost Apple's stock (although it's already incredibly close to a record high). But the mi casa e su casa tour earned Tim Cook these 2 surprise quotes from the President:
- "When you build in the United States you don’t have to worry about tariffs:" Apple's Chinese-made goods aren't exempted from tariffs (yet), but any exemption would save some profits.
- "I asked Tim Cook to see if he could get Apple involved in building 5G in the U.S." Apple isn't building out the powerful wireless network your future life runs on — but this captures their positive relationship with the President.
Arguably the best lobbyist in America... is Tim Cook. It may not be fair, but policy comes down to relationships. Right now, it's transactional relationships. Apple's CEO charmed up one with the President that most Big Tech won't:
- What other tech execs do: Amazon's Jeff Bezos owns the Washington Post and pushes back on Trump. Facebook's Zuck hates putting on suits and isn't getting any love from anyone in Washington.
- What Tim does: He attends White House dinners, serves on tech-ish advisory councils, and then joins more dinners.
- What the President gets: This photo opp and this stat that Apple will add $350B to the economy over 5 years. And when he incorrectly claims responsibility for opening that Texas factory, Tim doesn't mention it's actually 6 years old.
What else we’re Snackin’
- Lit: Cannabis stocks rise after the House Judiciary Committee moved a bill forward to legalize marijuana nationwide
- Learn: Sonos acquires a voice assistant startup to prevent its speakers from becoming a lifeless and personality-free commoditized hardware
- Combo: Schwab and TD Ameritrade stocks fly higher on reports they're planning to merge up after slashing trading commissions
- Abroad: Walmart's doubling down in China, launching 500 new stores across the Great Wall by 2023
- Contract: WeWork is officially cutting 2,400 WeWorkers as the WeTurnaround begins
Friday
- The Consumer Sentiment poll tells us how we're all feeling
- Earnings from Foot Locker
Disclosure: Authors of this Snacks own shares of Amazon and Tesla.
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