Tesla CEO Elon Musk Draws Parallel Between Netflix’s Decision To Focus On Streaming Over Renting DVDs To EV Maker Doubling Down On Vehicle Autonomy – Tesla (NASDAQ:TSLA)
May 11, 2024 11:24 AM | 2 min read
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Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Friday drew a parallel between video streaming platform Netflix doubling down on streaming over DVD renting in 2011 to the EV maker doubling efforts on vehicle autonomy.
What Happened: In 2011, Netflix attempted to split its DVD rental business from its online streaming into a separate website called Qwikster. The plan, however, was eventually scrapped owing to consumer and shareholder protests.
However, streaming has now indeed taken over DVDs, an X user noted in a post on Friday. “Now, apply this logic to Tesla,” Musk wrote to the user, drawing a parallel between Netflix’s 13-year-old decision to focus on streaming and Tesla’s own decision to focus all efforts on vehicle autonomy and hinting that autonomous vehicles will trump human-driven ones in the future.
“Even if I got kidnapped by aliens tomorrow, Tesla will solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least,” Musk said during the company’s first-quarter earnings call last month. “If somebody doesn’t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.”
Netflix, meanwhile, subsequently ended its DVD-renting business last year after the business shrank and paved the way for streaming. The company shipped its final discs on September 29.
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Photo: Shutterstock
20-Year Pro Trader Reveals His “MoneyLine”
Ditch your indicators and use the “MoneyLine”. A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here’s how he does it.
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