Rub your eyes. Pinch yourself. Do it again. Nope, you’re not dreaming. It’s 2019, and two of the biggest guys in biz-tech are talking about space, launching satellites and lunar colonisation… Yuh huh, actual people living on the moon. Amazing. Tesla’s Elon Musk and his Amazon compadre, Jeff Bezos, aren’t exactly the quietest chaps on our little blue-green planet and this week they’re making big waves in the cosmos once again. Let’s find out what’s going on.

Tesla’s Shareholder Meet

Guaranteed to entertain, the annual Tesla meeting of shareholders never disappoints. Yesterday was the big day for 2019 and it certainly had its share of ups and downs, from a member of the PETA animal rights group asking a question about vegan steering wheels (!) to a slightly more relevant and lengthy discussion about demand levels for the Model 3.

The meeting, of course, comes at an interesting time for Tesla. Stock price (TSLA) is at a two-year low after a pretty calamitous 2019, so far. This year has already seen more turbulence than a super-turbulent Space X take-off, with the company suffering its worst quarterly losses ever and facing questions over the safety of its Autopilot driver assistance feature and, of course, those recent – very public – battery fires.

The biggest issue touched on yesterday was the issue of demand. Industry experts have said that people aren’t interested in Tesla’s cars because they still cost a fortune. To this, Musk stated, “I want to be clear: there is not a demand problem… Absolutely not.” No problem there then, Elon.

Yesterday’s meeting didn’t exactly send Tesla (TSLA) stock price to the moon. Share price is up just under 2% on Wednesday morning. It wasn’t exactly a barnstormer, but it seems as though Musk has done something to steady the trajectory of Tesla’s climb to the stars.

Jeff’s Busy Week

Amazon CEO Jeff Bezos, has been a busy bee-(zos) this week. Speaking at Amazon’s Re:Mars 2019 tech conference, Bezos made a lot of interesting comments, firstly about leaving Earth, stating that “Humanity’s very survival relies on colonising space, starting with the moon”. And then later implying that it might also be good to stick around here a little longer, with Amazon planning to roll out Project Kuiper, an initiative to launch 3,236 satellites enabling a high-speed broadband network covering the whole of The Big Blue. Inter-planetary-scale flip-flopping at its best!

It’s been an up and down week for Amazon’s (AMZN) stock price, with a number of other high-profile announcements being made – i.e. the long-anticipated drone delivery service is still more than two years from launch; and the company announced it was pulling out of its restaurant delivery service. Oops! Stock price is relatively flat with all of this news hovering around, with the price up just 0.16% on Wednesday morning.

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TIO Staff
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