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WSJ Tech News Briefing

The Tesla Die-Hards Who Are Calling It Quits

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.61.6K Ratings

🗓️ 24 March 2025

⏱️ 12 minutes

🧾️ Download transcript

Summary

Tesla’s shares have plunged nearly 40% this year. Among the sellers: Long-time fans of Elon Musk who have soured on his role in Trump’s administration. Plus, the Russo brothers want Hollywood to be making their own AI systems–and their production studio Agbo is taking on the challenge. We talk to WSJ columnist Christopher Mims about their vision. Victoria Craig hosts.    Sign up for the WSJ's free Technology newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Americans love using their credit cards, the most secure and hassle-free way to pay.

0:04.0

But DC politicians want to change that with the Durban Marshall Credit Card Bill.

0:08.0

This bill lets corporate megastores pick how your credit card is processed,

0:13.0

allowing them to use untested payment networks that jeopardize your data security and rewards.

0:18.0

Corporate megastores will make more money and you pay the price. Tell

0:22.2

Congress to guard your card because Americans lose when politicians choose. Learn more at guard

0:29.0

your card.com. Welcome to Tech News Briefing. It's Monday, March 24th. I'm Victoria Craig for the Wall Street Journal.

0:39.6

As some diehard Tesla fans ditch their stock in the company, Elon Musk tells employees they should hang on to theirs.

0:47.3

Then, the Russo brothers, famed for blockbuster movies like Avengers Endgame, are using AI as a creative tool to try to keep it from

0:55.7

taking over jobs in Hollywood.

1:04.0

But first, don't sell. That was the message from Tesla CEO Elon Musk at a recent all-hands meeting where he pitched his five-year vision.

1:13.4

It included global regulatory approval for autonomous vehicles,

1:17.0

and Musk said that would lead to people taking road trips without ever touching a steering wheel.

1:21.8

He argued that while he remains optimistic,

1:24.8

sometimes stock market investors are too focused on the past to see the future.

1:30.1

It's very difficult for like, you know, people in the stock market, especially those that look

1:33.9

in the rear of the mirror, which is most people, to imagine a future where suddenly a 10 million

1:41.0

vehicle fleet has five to 10 times the usefulness. It does not compute. But it will

1:48.6

compute in the future. So what I'm saying is hang on to your stock.

1:56.5

The reality, though, is investors have been selling Tesla shares. The stock is down nearly 40% since the start of the year.

2:04.1

WSJ's Hannah Aaron Lang has been talking to some of the individuals participating in the sell-off.

2:10.1

So Hannah, tell us about these people you spoke to.

...

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