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Gm. Sooooo Tesla cut prices. It now costs 1 tweet saying "Elon is doing a good job at Twitter" to purchase a Tesla. I've already bought 7.
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EV
Tesla Cuts Prices
If you've always wanted a Tesla, now's your chance.
That's because Tesla has slashed prices across the board by as much as 30 percent when the new EV tax credits are applied.
Did somebody say...affordable?
The Cuts
No business likes making price cuts. They do so to spur slacking demand and/or stay ahead of their competitors.
And that's exactly the motive for Tesla.
Tesla sales haven't been killing it, the economy isn't exactly in its "let's drop 70 grand for a car" stage, and the EV market is becoming increasingly competitive.
In other words, the perfect storm for price cuts.
Unhappy Customers
While prospective new buyers rejoice, current Tesla owners are punching air, with those who just purchased Teslas punching the hardest.
Some Tesla owners in China have even taken to the streets in protest. No price cuts without representation!
What will Elon do about them?
Who knows, but as long as Tesla's sales and stock price picks up, he probably won't be too worried about it.
QUICK HITS
Seed Round
Stat: $1 billion: The size of Chamath Palihapitiya's new fund.
Story we're watching: The SEC charged crypto lender Genesis and crypto exchange Gemini with selling unregistered securities through Gemini's "Earn" program, which is in essence a crypto savings account. It's the latest attack by the SEC on crypto, and with Genesis and Gemini being two of the more prominent names in the space, the outcome of the case will be quite consequential.
Rabbit hole: Twitter is like Venture Capital (Jason Levin)
WHAT ELSE IS GOING ON
Stripe is clawing back pension contributions after staff cuts.
ChatGPT is pretty damn good at the SAT. Welp, I studied for nothing.
CircleCI, a software company popular with developers and software engineers, has had its encryption keys stolen.
YouTube is planning to let people swear again. Frick yes!
MONDAY MUSIC
Aim for the Moon — Pop Smoke ft. Quavo
LAYOFFS TRACKER
Notable layoffs this week
Greenlight: 104 people (21%)
Soundhound: 200 people (50%)
Crypto.com: 800 people (20%)
FOUNDERS CORNER
The best resources we came across this weekend that will help you become a better founder, builder, or investor.
😂 Founder Steph Mui might be the funniest founder on Twitter.
🤑 Alexey Guzey's Life Advice: Become a Billionaire is advice I'm down to take.
📅 Behance founder Scott Belsky dropped his 2023 predictions. #6's "Subscriptions to knowledge communities are the new books" is an idea I can't stop thinking about.
FRESH POWDER
Looking at three startups that recently topped up their coffers. Congrats!
