Tesla shines on strong Q2 earnings. It's The Daily Crunch.
THE DAILY CRUNCH
THURSDAY, AUGUST 3 2017 By Darrell Etherington
Tesla has a great quarter, strong Model 3 sales and its Solar Roof business is off to a strong start. Elon Musk is very aware of the challenges the company faces with Model 3 "production hell," but he also says his car company is the strongest it's ever been, and investors seem to agree. That and more in The Daily Crunch for August 3, 2017.
Tesla is doing well on Wall Street after reporting stronger than expected quarterly results. The earnings also revealed that Model X and S demand seems to be growing, not suffering, from the Model 3 release, which is a big reason for analyst enthusiasm.
Tesla's guidance indicates lots of spending on Model 3 manufacturing, but it's still likely only to look at debt financing to generate more funds, rather than additional equity funding, according to Elon Musk.
Tesla has already started installations for its solar roof tile product, which was first revealed last year. The tiles look like ordinary roofing material, and generate power comparable to traditional panels. Installations are starting on Tesla employee roofs – including Elon Musk's own.
Tesla has seen interest in its Model 3 rise now that people have actually had a chance to drive it, and see what it looks like in more detail. The carmaker said that pre-orders are coming in at a net pace of 1,800 new reservations per day on average. It also clarified total pre-order volume, saying 518,000 people pre-ordered in total, but 63,000 have cancelled overall, resulting in 485,000 net pre-orders prior to last week.
Facebook wants to make sure you get your news with a healthy dose of perspective: It's adding a "Related articles" widget to news stories in the feed, which it hopes will give multiple angles on a topic. Speaking from experience, people rarely ever click on those, but at least it's one more thing the company is doing to try to fix an obvious problem.
SoftBank is quickly becoming one of the spendiest sources of venture investment around – today, it put $250 million into small business lending platform Kabbage, which doubles the company's total equity funding. Big bucks to be had in the loan market, and SoftBank wants a piece.
If people ask me about cryptocurrency I generally tell them to ask someone else, but this explainer by Fitz about what 'bitcoin cash' is and what it means has helped me achieve a very rudimentary understanding, finally, after years of willfully ignoring cryptocurrency.
A big solar eclipse is coming to the U.S. for the first time since 1918, and it'll be another 27 years before we see one again, so people are excited. Google wants to help kids enjoy the experience, and it's working with YC education startup Mystery Science to give away 15,000 glasses to help kids watch the show safely.