Elon Musk's Prediction on Lucid Motors' Fate

Lucid Motors, an electric vehicle company that has been gaining attention in recent years, is facing an uncertain future according to Elon Musk. The billionaire entrepreneur recently tweeted that both Lucid and Rivian are "tracking towards bankruptcy" unless they can significantly reduce their production costs. This prediction has left many wondering if Musk's assessment is accurate.

In order to understand the gravity of this situation, it's essential to look at some facts. Lucid Motors is facing real problems in keeping current customers interested and gaining new ones. Despite offering discounts and incentives, analysts are not sure if these measures will be enough to save the company. Instead, they believe that Lucid needs to change its strategy altogether and consider offering more affordable cars.

One possible solution is the introduction of a lower-priced car, such as the Lucid Air Pure. However, the problem is that this car is still months away from even starting production. Lucid Motors is mostly funded by the Saudi Arabian-based Public Investment Fund, one of the largest sovereign wealth funds in the world. According to reports, Lucid has enough money right now to stay afloat for one year. The worst-case scenario is that the company falls apart.

Despite these challenges, Lucid Motors is making progress in terms of revenue. The company had a revenue of close to $200 million in its third quarter 2022. Additionally, Lucid plans to introduce its second model, the Lucid Gravity SUV, which will be available in either 2023 or 2024.

Elon Musk's Recent Takeover of Twitter

In a separate development, Elon Musk has recently taken over Twitter for $44 billion. Since taking over, Musk has been making significant changes to the platform. One of the first changes was the reinstatement of accounts that had been previously banned for violating Twitter's rules. This includes accounts from high-profile individuals such as Donald Trump.

Musk also announced a general amnesty for suspended accounts on Twitter. The company updated its online rulebook to state that it would no longer enforce policies against misleading claims about COVID-19. Additionally, Musk implemented changes that have caused concern among Twitter employees and users alike. One of the most significant changes is the sale of blue check marks without any actual verification.

This has led to multiple verified accounts popping up from people who are lying about their true identities. For example, an account posing as pharmaceutical company Eli Lilly tweeted that insulin is free now. This caused the pharmaceutical company's stock to drop. Twitter employees have also been laid off, and many more have left the company due to Musk's ultimatum.

Musk has required remaining employees to either commit to a new "hardcore" Twitter or resign. This has led to a significant number of people leaving the company. Additionally, half of Twitter's top 100 advertisers have stopped spending on the platform completely. Civil rights groups have also documented a rise in hate speech on Twitter since Musk took over.

The Impact of Elon Musk's Changes on Twitter

Musk's changes to Twitter have been met with controversy and concern among users, employees, and advertisers. One of the most significant concerns is the lack of verification on the platform. The blue check mark was previously a guarantee that a user was who they said they were. However, Musk's decision to sell blue checks without verification has led to multiple accounts popping up from people who are lying about their true identities.

This has caused problems for users, including pharmaceutical companies and others who have been impersonated on the platform. The lack of verification has also led to a rise in hate speech and misinformation on Twitter. Additionally, many advertisers have stopped spending on the platform due to concerns over the platform's direction under Musk's leadership.

The Future of Twitter

As we look to the future, it's essential to consider whether Musk's changes will grow the platform or kill it off. While Musk has caused chaos and confusion among employees, users, and advertisers, he also claims to be putting the safety of Twitter's most vulnerable users around the world at risk.

These vulnerable users include human rights activists and free speech advocates. The recent reinstatement of accounts that had been previously banned for violating Twitter's rules has raised concerns about the platform's ability to regulate hate speech and misinformation. Additionally, the lack of verification on the platform has led to problems for users who have been impersonated or harassed.

Ultimately, it remains to be seen whether Musk's changes will lead to a more free-speech-friendly platform or one that is overrun with misinformation and hate speech. One thing is certain, however: Elon Musk's tweets have power, and his predictions about Lucid Motors' fate may be more accurate than we think.

"WEBVTTKind: captionsLanguage: enlast year U.S news ranked the 2022 Lucid air is one of the best luxury EVS in its class despite this Elon Musk recently tweeted a grim demise on Lucid Motors today we'll see if Elon musk's prediction has any Merit we'll look at Lucid Motors and the troubles they're facing we'll also look at some of Elon musk's other predictions for lucid and spoiler alert it's not good news needless to say Lucid Motors is one of Tesla's biggest competitors in the EV space lucid's own Twitter page reads hair for luxury here for performance here for good but an Elon musk's opinion that might not be the case for much longer in early December 2022 Elon Musk tweeted about lucid Motors they are not long for this world with that one simple tweet musk proved again that he is not one to mince words so why is Elon Musk feeling so extremely negative about lucid the simple answer is that lucid is indeed in trouble here's why a few weeks ago emails from Lucid Motors to its employees got leaked out they shed light on the pressure Brewing inside the EV Giant in 2022 Lucid production lagged behind and that was a big hit for Lucy especially during the holiday season on top of that in the first three quarters of 2022 Lucid produced exactly 3 687 Vehicles whereas the initial production Target was six thousand to seven thousand Vehicles by year end but it's not just that lucid also saw its reservations drop I'm talking a whopping 3000 vehicles from the second to the third quarter of 2022. in the third quarter earnings call Lucid CFO Sherry house attributed to drop and reservations to a combination of production delay and customer cancellations but Lucid didn't stop there in a leaked email sent to Lucent retail employees Lucid said that every cancellation is a failure the email then went on to explain an elaborate process to save those failures here's the thing when a customer requests to cancel their order this request is assigned to what's known as a lucid case owner the Lucid case owner has to call the customer within 24 hours to attempt to save the order if you can't reach your customer then they have to attempt to call three more times on consecutive days after that the case escalates up to a manager who reviews the logged activities and then calls the customer within 24 hours if the manager is unable to reach the customer then he attempts to call five more times on consecutive days and after all that the manager still can't reach the customer believe it or not the case then goes to a regional manager the regional manager attempts to follow the customer within 24 hours and if the regional manager cannot reach the customer the first time then he has to attempt three more times on consecutive days after all these efforts if no contact was made then finally the reservation gets canceled all in all from the customer perspective this means if you cancel your order you can expect a call or voicemail from Lucid relentlessly every day for a good two weeks unless you pick up but that's not all there was yet a second leaky map this time Lucid introduced vacation blackout periods around the end of your holiday period for certain employees for example November 24-27 and also December 17th to 31st obviously we're talking about Thanksgiving and Christmas holiday seasons the email explained that during these blackout periods employees might be required to work holidays and won't be eligible to take vacation time according to Lucid this alternate holiday calendar applies to its field sales Service delivery departments and headquarters sales and delivery employees that's the latest drama around Lucid but their problems go way beyond that some say that lucid Motors jumped onto the electric performance industry a few years too late orders are backlogged demand is shrinking and a few weeks ago Lucid began offering discounts to try to make up for it all in an email the customers with delayed orders Lucid said it would reinstate the orders to the original Legacy pricing of a hundred and thirty nine thousand dollars for the Lucid air Grand Touring that comes out to a discount of 10 the same email continued to say that any reinstated order could be completed in a few weeks on top of that lucid also started an employee purchase program that gives employees an eighteen thousand dollar discount on the air Grand Touring month obviously they want to boost internal sales with incentives Lucid is also featuring delivery ready models and offering a subsidized 2.81 annual interest rate in-house financing but here's the thing none of these incentives changed the fact that the price tag of a hundred and fifty thousand dollars is beyond affordable for the average American Consumer despite Elon musk's prediction of Doom for Lucent the car brand actually expects the revenue to grow by 3.2 billion as a ramps up production at its Arizona Factory and begins construction at its Saudi Arabia plant but the reality is to reach the revenue Target Lucid has to at minimum maintain its current order of 34 000 units and furthermore ideally increase orders but that'll be no easy task given the cancellation that's been coming through already here's the interesting thing in a way you could say that lucid is an indirect spin-off of Tesla not by Elon Musk but by people who actually used to work at Tesla here's what I mean Lucid was actually founded by a former Tesla executive and board member today Lucid is led by Peter Rawlinson and Peter Rawlinson also worked for Tesla as a VP of vehicle engineering and chief engineer of the model S before its launch before that Robinson was also chief engineer at Lotus cars and the principal engineer at Jaguar cars Lucid Motors was found all the way back in 2007. you might be surprised to learn this but the company wasn't always known as Lucid Motors it was formerly known as back then the company focused on developing batteries and electric power train means for other vehicle manufacturers but eventually after time it accumulated over 50 patents pertaining to its core battery system and that's in the us alone then came 2013 and the company began to wonder could we make an electric vehicle of our own veteran Peter Rawlinson joined the company as Chief technology officer fast forward a few years the company went to lexicon branding a firm that specializes in creating brand names this is the same company also coined Subaru's Outback and Forester names GMS OnStar Mercedes mattress and Toyota's Venza and Scion brands with the help of this firm our team announced it was rebranding itself as Lucid Motors and the company would focus on making an all-electric luxury vehicle but let's jump back to the present and back to Elon Musk now here's the thing you got to understand about Elon Musk whether you agree with his prediction about lucid or not one thing we can all agree on is that his tweets have power a lot more than you might realize in fact with that recent single tweet predicting Lucy's demise Elon Musk actually caused a media frenzy but that's not the only storm he's been stirring up Elon Musk bought Twitter for 44 billion back October since he took over Elon Musk has caused what many are calling chaos and confusion for employees users and the advertisers Twitter's former head of trust and safety questions of Rapid Fire changes elon's been making with Twitter and he says he's putting the safety of Twitter's most vulnerable users around the world at risk these vulnerable users including people like human rights activists and Free Speech Advocates let me give you an example after Elon bought the social media giant he started to reinstate accounts that had been previously banned for violating Twitter's rules take Donald Trump as case and points basically musk announce the general amnesty for men any suspended accounts Twitter also updated its online rulebook to say that it was no longer enforcing policies against misleading claims about covet 19. that's not all perhaps one of the biggest shocks to Twitter employees was the layoff I'm talking about contract content moderators Twitter's human rights team's investigators working to curb political manipulation and child sexual abuse material all of them got laid off apparently musk issued an ultimatum to the remaining employees requiring them to either commit to a new hardcore Twitter or just resign and that caused deep more people to leave the company but it's not just about employees that left the social media platform after must took over users have too the list continues less than a month after months took over half of Twitter's top 100 advertisers stopped spending on the platform completely and Civil Rights group also documented a rise in hate speech on Twitter ever since musk took over here's another change musk implemented which is its fair share of controversy in the past if you saw a blue check mark next to user's name on Twitter that was a verified guarantee that the user was who they said they were but when Moss took over Twitter he began selling blue check marks without any actual verification that meant multiple verified accounts started popping up from people who were lying about their true identities for example an account popped up posing as pharmaceutical company Eli Lilly it tweeted that insulin is free now believe it or not this caused the pharmaceutical Company's stock to drop anyway I think Elon musk's opinion on Lucid was isolated to his recent post well think again back in June Elon Musk claim that both lucid and even rivian were tracking towards bankruptcy his belief is that unless Lucid rivian cut their production cost dramatically they'll only get deeper into trouble and end up in the car Cemetery if you're wondering if it's doomsday prediction has any Merit well just look at some facts right now Lucid is facing real problems to keep current customers interested and to gain new ones and despite the discounts and incentives it's offering analysts aren't sure this will be enough instead they believe Lucid needs to change strategy altogether and consider offering more affordable cars now don't get me wrong Lucid is in a way trying out this option with its lower priced air pure but the problem is the air pure is still months away from even starting production Lucid is mostly funded by the Saudi arabian-based public investment month that's one of the largest Sovereign wealth ones in the whole world reportedly Lucid has enough money right now to stay afloat for one year so the worst case scenario they have that to fall apart the thing is lucid is making money in its third quarter 2022. the company had a revenue of close to 200 million dollars and it has plans to introduce its second model the Lucid gravity SUV that'll be in either 2023 or 2024 but now you tell me do you agree with Elon Musk about lucid's impending death and do you think his organizational changes within Twitter will grow the platform or kill It Off please share by commenting below if you like this video please like share and subscribe thanks for your supportlast year U.S news ranked the 2022 Lucid air is one of the best luxury EVS in its class despite this Elon Musk recently tweeted a grim demise on Lucid Motors today we'll see if Elon musk's prediction has any Merit we'll look at Lucid Motors and the troubles they're facing we'll also look at some of Elon musk's other predictions for lucid and spoiler alert it's not good news needless to say Lucid Motors is one of Tesla's biggest competitors in the EV space lucid's own Twitter page reads hair for luxury here for performance here for good but an Elon musk's opinion that might not be the case for much longer in early December 2022 Elon Musk tweeted about lucid Motors they are not long for this world with that one simple tweet musk proved again that he is not one to mince words so why is Elon Musk feeling so extremely negative about lucid the simple answer is that lucid is indeed in trouble here's why a few weeks ago emails from Lucid Motors to its employees got leaked out they shed light on the pressure Brewing inside the EV Giant in 2022 Lucid production lagged behind and that was a big hit for Lucy especially during the holiday season on top of that in the first three quarters of 2022 Lucid produced exactly 3 687 Vehicles whereas the initial production Target was six thousand to seven thousand Vehicles by year end but it's not just that lucid also saw its reservations drop I'm talking a whopping 3000 vehicles from the second to the third quarter of 2022. in the third quarter earnings call Lucid CFO Sherry house attributed to drop and reservations to a combination of production delay and customer cancellations but Lucid didn't stop there in a leaked email sent to Lucent retail employees Lucid said that every cancellation is a failure the email then went on to explain an elaborate process to save those failures here's the thing when a customer requests to cancel their order this request is assigned to what's known as a lucid case owner the Lucid case owner has to call the customer within 24 hours to attempt to save the order if you can't reach your customer then they have to attempt to call three more times on consecutive days after that the case escalates up to a manager who reviews the logged activities and then calls the customer within 24 hours if the manager is unable to reach the customer then he attempts to call five more times on consecutive days and after all that the manager still can't reach the customer believe it or not the case then goes to a regional manager the regional manager attempts to follow the customer within 24 hours and if the regional manager cannot reach the customer the first time then he has to attempt three more times on consecutive days after all these efforts if no contact was made then finally the reservation gets canceled all in all from the customer perspective this means if you cancel your order you can expect a call or voicemail from Lucid relentlessly every day for a good two weeks unless you pick up but that's not all there was yet a second leaky map this time Lucid introduced vacation blackout periods around the end of your holiday period for certain employees for example November 24-27 and also December 17th to 31st obviously we're talking about Thanksgiving and Christmas holiday seasons the email explained that during these blackout periods employees might be required to work holidays and won't be eligible to take vacation time according to Lucid this alternate holiday calendar applies to its field sales Service delivery departments and headquarters sales and delivery employees that's the latest drama around Lucid but their problems go way beyond that some say that lucid Motors jumped onto the electric performance industry a few years too late orders are backlogged demand is shrinking and a few weeks ago Lucid began offering discounts to try to make up for it all in an email the customers with delayed orders Lucid said it would reinstate the orders to the original Legacy pricing of a hundred and thirty nine thousand dollars for the Lucid air Grand Touring that comes out to a discount of 10 the same email continued to say that any reinstated order could be completed in a few weeks on top of that lucid also started an employee purchase program that gives employees an eighteen thousand dollar discount on the air Grand Touring month obviously they want to boost internal sales with incentives Lucid is also featuring delivery ready models and offering a subsidized 2.81 annual interest rate in-house financing but here's the thing none of these incentives changed the fact that the price tag of a hundred and fifty thousand dollars is beyond affordable for the average American Consumer despite Elon musk's prediction of Doom for Lucent the car brand actually expects the revenue to grow by 3.2 billion as a ramps up production at its Arizona Factory and begins construction at its Saudi Arabia plant but the reality is to reach the revenue Target Lucid has to at minimum maintain its current order of 34 000 units and furthermore ideally increase orders but that'll be no easy task given the cancellation that's been coming through already here's the interesting thing in a way you could say that lucid is an indirect spin-off of Tesla not by Elon Musk but by people who actually used to work at Tesla here's what I mean Lucid was actually founded by a former Tesla executive and board member today Lucid is led by Peter Rawlinson and Peter Rawlinson also worked for Tesla as a VP of vehicle engineering and chief engineer of the model S before its launch before that Robinson was also chief engineer at Lotus cars and the principal engineer at Jaguar cars Lucid Motors was found all the way back in 2007. you might be surprised to learn this but the company wasn't always known as Lucid Motors it was formerly known as back then the company focused on developing batteries and electric power train means for other vehicle manufacturers but eventually after time it accumulated over 50 patents pertaining to its core battery system and that's in the us alone then came 2013 and the company began to wonder could we make an electric vehicle of our own veteran Peter Rawlinson joined the company as Chief technology officer fast forward a few years the company went to lexicon branding a firm that specializes in creating brand names this is the same company also coined Subaru's Outback and Forester names GMS OnStar Mercedes mattress and Toyota's Venza and Scion brands with the help of this firm our team announced it was rebranding itself as Lucid Motors and the company would focus on making an all-electric luxury vehicle but let's jump back to the present and back to Elon Musk now here's the thing you got to understand about Elon Musk whether you agree with his prediction about lucid or not one thing we can all agree on is that his tweets have power a lot more than you might realize in fact with that recent single tweet predicting Lucy's demise Elon Musk actually caused a media frenzy but that's not the only storm he's been stirring up Elon Musk bought Twitter for 44 billion back October since he took over Elon Musk has caused what many are calling chaos and confusion for employees users and the advertisers Twitter's former head of trust and safety questions of Rapid Fire changes elon's been making with Twitter and he says he's putting the safety of Twitter's most vulnerable users around the world at risk these vulnerable users including people like human rights activists and Free Speech Advocates let me give you an example after Elon bought the social media giant he started to reinstate accounts that had been previously banned for violating Twitter's rules take Donald Trump as case and points basically musk announce the general amnesty for men any suspended accounts Twitter also updated its online rulebook to say that it was no longer enforcing policies against misleading claims about covet 19. that's not all perhaps one of the biggest shocks to Twitter employees was the layoff I'm talking about contract content moderators Twitter's human rights team's investigators working to curb political manipulation and child sexual abuse material all of them got laid off apparently musk issued an ultimatum to the remaining employees requiring them to either commit to a new hardcore Twitter or just resign and that caused deep more people to leave the company but it's not just about employees that left the social media platform after must took over users have too the list continues less than a month after months took over half of Twitter's top 100 advertisers stopped spending on the platform completely and Civil Rights group also documented a rise in hate speech on Twitter ever since musk took over here's another change musk implemented which is its fair share of controversy in the past if you saw a blue check mark next to user's name on Twitter that was a verified guarantee that the user was who they said they were but when Moss took over Twitter he began selling blue check marks without any actual verification that meant multiple verified accounts started popping up from people who were lying about their true identities for example an account popped up posing as pharmaceutical company Eli Lilly it tweeted that insulin is free now believe it or not this caused the pharmaceutical Company's stock to drop anyway I think Elon musk's opinion on Lucid was isolated to his recent post well think again back in June Elon Musk claim that both lucid and even rivian were tracking towards bankruptcy his belief is that unless Lucid rivian cut their production cost dramatically they'll only get deeper into trouble and end up in the car Cemetery if you're wondering if it's doomsday prediction has any Merit well just look at some facts right now Lucid is facing real problems to keep current customers interested and to gain new ones and despite the discounts and incentives it's offering analysts aren't sure this will be enough instead they believe Lucid needs to change strategy altogether and consider offering more affordable cars now don't get me wrong Lucid is in a way trying out this option with its lower priced air pure but the problem is the air pure is still months away from even starting production Lucid is mostly funded by the Saudi arabian-based public investment month that's one of the largest Sovereign wealth ones in the whole world reportedly Lucid has enough money right now to stay afloat for one year so the worst case scenario they have that to fall apart the thing is lucid is making money in its third quarter 2022. the company had a revenue of close to 200 million dollars and it has plans to introduce its second model the Lucid gravity SUV that'll be in either 2023 or 2024 but now you tell me do you agree with Elon Musk about lucid's impending death and do you think his organizational changes within Twitter will grow the platform or kill It Off please share by commenting below if you like this video please like share and subscribe thanks for your support\n"