Stephen and Andrew ignore the headlines and the Twitter drama and look at Tesla the company — the EVs, the $30 billion robotaxi bet, the robots, and a balance sheet holding roughly $44 billion in liquid assets. Both are bullish on the business. Neither will touch the stock at $393 with a trailing PE over 300. Along the way: Stephen's biggest investing regret (an Army signing bonus that could have bought Tesla at the IPO), why Andrew isn't shaking his 11% Uber position, and the question hanging over it all — how much of the Tesla bear case is just feelings about Elon? What You Will Learn Why letting personal bias about a CEO dictate allocation destroys wealth The story of Stephen's Tesla IPO miss — and what it taught him about IPOs What Tesla's $30B in new financing is really funding (robotaxis, semis, robots) The robotaxi debate: constitutional concerns vs. the unit-economics reality Why Tesla's balance sheet looks like Apple's — and why Moody's disagrees Where to draw the line between investing with your conscience and investing on vibes Timestamps 00:00 – Why we're talking Tesla (and ignoring all the drama) 02:00 – Confession: the Jeep guy loves EVs 06:00 – Stephen's biggest regret: the IPO that got away 10:00 – Tesla today: $30B financing, new mission statement, Megapack 15:00 – Robotaxis: Stephen's concerns vs. Andrew's Uber bull case 25:00 – Valuation check: $393 stock, 331 PE, waiting for $275 37:00 – The $44 billion balance sheet 40:00 – "I'm not looking at him as my friend, I'm looking at him as an ATM" 47:00 – Can legacy automakers catch up? 51:00 – Robots building robots, and why optimism wins Resources Mentioned The Value Spotlight Newsletter: https://einvestingforbeginners.com/value-spotlight-newsletter/ Have questions or want your story featured? Email the show at newsletter@einvestingforbeginners.com or comment below. Your feedback shapes the podcast! Remember, invest with a margin of safety—emphasis on the safety. Have a great week, and we’ll talk to you next time. Timestamps are generated by artificial intelligence, and are not 100% accurate depending on the platform used for listening. Today’s show is sponsored by: Download Cash App Today: https://click.cash.app/ui6m/0th4z72y #CashAppPod As a Cash App partner, I may earn a commission when you sign up for a Cash App account. Cash App is a financial services platform, not a bank. Banking services provided by Cash App’s bank partner(s). Bitcoin services provided by Block, Inc. For additional information, see the Bitcoin disclosures. Shopify: Stop waiting for permission to build something. Your next revenue stream starts for free at shopify.com/beginners Turn your biggest monthly expense into rewards. Bilt lets you earn points on rent payments with no transaction fees, redeemable for travel, fitness classes, and more at joinbilt.com/investing Supercharge your productivity and automate your daily tasks by building custom AI agents in your all-in-one workspace at https://notion.com/investing Take your investing up a notch with MooMoo — commission-free trading, pro-level research tools, and real-time market data, all in one app. Get started at start.moomoo.com/BEGINNERS Sending money across borders? Wise gives you the real exchange rate with low, transparent fees and no hidden markups. Join millions managing money globally at wise.com Interested in how your company sponsor the show? Reach us at equity@einvestingforbeginners.com SUBSCRIBE TO THE SHOW Apple | Spotify | YouTube | Amazon | Tunein Learn more about your ad choices. Visit megaphone.fm/adchoices
