I kept telling EVERYONE that the should have focused on the tilt e bike, it cheaper, takes fewer people to make, is easier to make, is shipable, would cost a LOT less, people without drivers licenses could buy it to get to work, and the range was pretty good ( up to 200 miles if i recall ) I got SO MUCH RESISTANCE for that form everyone.
I bought FUV in large part because of your recommendation. And I lost money. But I never lost or invested more than I could afford to lose. Thanks for putting a bow on this. I’ve wondered WTF happened. That said, I also bought Tesla and I’m not rich by any means, but my Tesla wins greatly outweigh my Arc losses. Investing is a RISK I was willing to take. Thanks for the video!
@@nr8813 and here you are in the comments so I can only assume you either watch Gali and now call him stupid because he couldn’t see the future or you’re just a troll trying to stir up trouble. Good luck with your own endeavors and investments.
I remember your first videos on Arcimoto - but did express a little concern when you announced your directorship. I too have had similar experiences... endless wasted hours in meetings, listening to others who loved the sound of their own voices. And the loudest among them were usually those who had the least to offer.
Appreciate this. I started investing in FUV after watching your videos and doing a bunch of my own research. I sold at the end of last year for a nice $40k loss. Definitely needed this video to get some closure. Was a tough learning lesson for sure
holeefknsht ! I have lost at least that much on a handful of companies due to my own unbridled exuberance and it will take years for them to bounce back... if ever.
I was a mechanical engineer there from Oct 2021 to Oct 2022 at the 2nd round of layoffs. Knew of Gallie sorta but never met him. Was an amazing time working there, but we all knew the whole time that the focus was totally in the wrong spots. Anyways, AMA
Thank you, I sincerely appreciate this video. I went on the ARC journey with you and it's good to hear it from your side to wrap up the adventure. Probably my most valuable investing lesson so far.
Mindblowing the bueraucracy just in that relatively small company - I have experienced similar life draining bureaucracy IRL, also in small companies, and it's basically the biggest blocker of achieving greatness.
Glad you are back. I never understood investing in Arcimoto... I did not see a use case for the product. Zac and Jesse also told us about Arcimoto, repeatedly.
Met you at the RAMP event! We share the same sentiment. I still love the idea of Arcimoto. I think under the right leadership the product would be huge!
My first ever comment. I invested in Tesla but not Arcimoto. This UA-cam is your best. Not about investing but about what it takes to manage an organization and be a successful leader of a company.
I have a small amount of FUV that I bought long before they went up to $1 billion but I never sold it. Thanks for the new info about your experience with them. I miss the good ole days when $TSLA just kept going up and up and up and then I would see a new one of your videos and drop everything to watch it. It is nice to be hearing from you again.
No worries Gali. I did own shares, not a large position and followed the company. I was happy that you were on the board and had high hopes. Like I said I did follow FUV I did eventually sell it to buy SPCE. Production is hard. I was just thinking about you and FUV since you reappeared, so thank you for the update. Thank you for getting me jacked up on TSLA. Happy New Year. Fisker is going the way of Lordstown.
I always thought Arcimoto would have sold 100s of thousands of units in India (with a factory there), Thailand, etc., where they use small 2-stroke vehicles to get around. It’s a great product. I’m surprised a Chinese company hasn’t tried to buy them out for pennies on the dollar.
chinese companies already make electric trikes for a trillion times cheaper. Why would they want to buy garbage like arcimoto? imagine thinking you know some market in Asia better than the consumers there do lol. You're completely detached from it. Cool dude yeah Indians want a 15k 1 person car instead of an ebike for $900.
Yeah dude Indians always say "why would I pay $700 for an ebike or trike when I can pay 16k usd for an arcimoto? I'm Indian I hate money. I want to lose lots of money and get a really bad deal, this is what Indians want to do." good market analysis
Yeah arcimoto looks like a great deal. Make a 16k one person vehicle instead of an electric trike for under a thousand dollars which are all over China already.
FUV / Arcimoto is still a brilliant concept. I bought in cautiously ... and even added later on when it'd turned into whispy air. The NEED is there for this type of small vehicle. It CAN be made. But as you said here, it's not materializing. Thanks for sharing this lesson.
Electric bicycles (or better "electrified") are the craze in Germany in the past 2 years. However these cost only a few $1000 - i.e. significantly less. en.wikipedia.org/wiki/Pedelec Basically if a grandma is overtaking you on your bike uphill she is "cheating" with such a "pedelec".
FWIW not everyone you introduced to FUV who invested lost money. I made about 400% returns in the initial run up off a very small investment. Thanks for the transparency and happy to see you posting again.
I've been watching you for years. Saw when you got to talk on the the Tesla call. Love how you speculate with all that energy. I'm glad your back on UA-cam
Not trying to diss the leadership of Arcimoto. I actually made a few bucks on the stock. But leadership is hugely important at a startup. A big reason I started investing in Tesla back in 2013 was when I heard Elon speak about the need to get off of fossil fuels and felt his enthusiasm for EV’s. Also, he had a track record of success with his previous companies. And, most importantly, he was willing to risk it all - all $180 million of what he earned from those earlier ventures - on Tesla (& SpaceX). Only someone with supreme conviction, engineering knowhow, and an understanding of the importance of mass producing EV’s for humanity, would be willing to risk it all to make Tesla succeed. So, I invested in Tesla because of Elon Musk. And even HE and Tesla almost went bankrupt a couple of times over the years. But in the end, that investment has paid off big time - both for me and for the planet! My hats off to the founders and original leadership of Arcimoto for making a go of it. I think their idea will come to pass at some point.
Good to hear about your experience on the board and thoughts about the company. I learned of Arcimoto from your first videos and took massive interest in their story. It seemed like such a cool company and product. The market was crazy about EVs, money was cheap and everywhere, transport seemed ripe for disruption. Wow how times change! In January 2021, I jumped into the stock with both feet, started getting friends and family to jump in as well. Rented a couple FUVs in San Diego and had a blast cruising around for a couple hours. I'm still holding all my shares, averaged all the way down, in for over 15k! Luckily, like you, Tesla is saving my ass. Live and learn!
Thank you Gali. I needed this from you. It is like you read my previous post on another video. Thanks for giving the rest of the story... Keep up the content and the brainstorming. Respect.
I owned a small amount of their stock and was lucky to sell with a small profit. When I saw a steady stream of new product prototypes but inability to execute, i.e. ramp production, I lost confidence in their abilities and dumped it.
Yes, I was on the edge of Investing but when I kept seeing New product this, New product that... I just thought "Where is the focus? Why not concentrate on one or two things? Not all the other products." Then I invested more into Tesla instead. Cheers
I bought a relatively small amount of shares compared to Tesla and sold not at the top but with a good multiple of profit which I converted to more Tesla shares. As a motorcyclist of many decades I was concerned about their range and how that was perceived where they were targeting that market. I have always thought a battery swap system makes more sense for motorcycles (as per China e-scooters) unless a fast charge battery is developed (maybe in next few years). Business is tough and it takes tough decisions to stay in business. As a previous employer the hardest decision is sacking people who are not performing, even more so when you have to let good workers go because of economic decisions.
I've been waiting years for this video; thanks Gali for the dose of reality. I've been a modestly successful retail investor for about 30 years and summarize that by saying that 9 out of 10 stocks go to zero, while 1 in 10 goes to the moon, but you can't know in advance which will be the winner. I have also worked for several companies, often doing R&D. Rarely does a blue sky new product development project lead to profit. It's much more satisfying to make incremental improvements to an already profitable product line. A profitable company has so much more room to maneuver, whereas a startup or money-losing business is much more constrained. There are many more ways to be dead than alive. I still invest small amounts in high-risk unprofitable startups, hoping for a rare big win, because collectively we have to map the envelope of possibilities.
Hi Gali Thank you for this clarifying video. I hope really hopy that Arcimoto can recover in some way. The concept still makes sense to me and that is a reason I made a small investment, that maybe can recover in a distant future.
So good to see you back on the UA-cam machine! Start-up world requires insane levels of work and dedication, and even with all of that, most fail. Glad you're taking your lessons, and sharing what you can.
Good to see an honest video looking at a case where you lost money investing. We all have these stories but we don't like to talk about them as much as our winners. For me the following have lost me money: - Aurora cannabis - Canopy Growth - Crispr therapeutics - Square/block As you say, it's important to just learn something from these losses. It also helps when Tesla is a major part of your portfolio and easily covers your losses!
I loved (love) the Arcimoto idea. Could never understand why the choice of battery tech was so wrong and all fixes took years . Range was wimpy when it could have been 3 times better and then the Arcimoto fleet could have turned into an irresistible product. I´m sure some big company will buy this brand and designs and we will see these vehicles everywhere by the thousands with better range and better marketing. Micromobility is the future, quiet, simple and nimble. Go Arcimoto !
Gali, what do you think about Aptera Motors? I was thinking about the reasons you said Arcimoto didnt succeed and wondering if Aptera had any of those flaws. I dont think they do but would love to get your take.
Being a board member is 100% worth it for the experience. You were paid in experience and I'm sure it is worth it at the end. If the job isn't awful there's nothing to learn, and you don't know how hard is hard until you try moving that boulder. You came out of this with better clarity and less tolerance for BS and that will serve you well in the future. Having said that, for this video I think you were trying to state how 1) the management was too kind and never rid of non-performers while 2) production kept getting stalled with no improvement in sight. You were being a little too nice and the message of the video got a bit convoluted. All the investors for Arcimoto deserves the truth and you should know that we applaud you for the transparency. If you lose any friends for saying what you should say, then those are not friends worth having.
Gali, you were key in helping me to refocus on something I love to do after my retirement from IT. Business Analysis. I got in and out on Arcimoto with good gains and am all in on Tesla with mega gains. Love how you see the world.
I love this. So informative, insightful. Please do some more of this content alongside your old type of content if you decide to come back (hopefully you do!).
I bought 1000 @ $2 in 2019 based on your feedback at the time. Sold everything Feb 2023 at a loss to reduce taxes on my Tesla profits... Rented in Florday and Eugene. I was enthusiastic, even visited the factory in October 2021. I just don't understand how they couldn't ramp production of such a simple machine. In the end I figured out that they had no sales pipeline and didn't want to scale up only to sit on inventory. I was also disappointed you were so quiet after joining the board.
Nobody wants to pay 17k to do the same things they're gonna do with an ebike or etrike, and not require insurance and registration lol. 17k + continued insurance costs compared to 1k???
"If you say no to a thing you say no to one thing. If you say yes to a thing you actually say no to every other thing you could have done." --Tobi Lütke Your description of how time-consuming being on the board was made me think of this quote. Thanks for the insight. Cheers:)
Gali!! The small loss in Arcimoto was quickly forgotten long ago in the shadow of tsla gains, and you’re the original Tesla Investment-Tuber. Bought my first share (tsla*) in 2015. We’re fellow travelers dude. Enjoying the journey! *edit
Good stuff bro and thanks for the info. I too invested a bit of $ into them in hopes of a movement to start but obviously that movement wasn't meant to be at least for now. I like your analogy for what a city could be rather than thousands of full size vehicles running all around polluting and clogging up all the streets. I'm into Aptera for this very reason even though it's not quite as small as an Arcimoto it's still extremely efficient and practical. I'm in the NW out in Central Oregon and am an Oregon native, actually born in Eugene and grew up about an hour from there in the small town of Sweet Home. Your insights and thoughtfulness are great and I think that's what makes you a great UA-camr. Keep on keepin on bro 👍
Great video Gali. One other thing you should get props for is introducing Arcimoto to Sandy Munro and company so they could do a tear down and analysis. Only wish Arcimoto would have met Sandy 'before' they finalized the design - could have been a game changer. I bought and sold Arcimoto several times and made a lot of profit. Still have some shares that I swore I'd keep til they skyrocketed or busted. I still love the product and concept but manufacturing is hard. Thank you for sharing.
I followed Arcimoto early on and felt the product was far too expensive for what it is. Compare with the micro EVs being marketed in China. How can they sell so cheap and Arcimoto need to sell for so much. I walked away without buying stock as I just couldn’t see it as viable. Probably only could have worked if made in China.
Major props Gali for doing this episode! Thanks for letting us learn with you! Also love the nod to your art and how much passion you have to the future you wish to see. Don’t stop and it is a great episode!
*Mad Respect!* Arc launched during a time of _extreme-youthful-investor- exuberance_ ....... social media was flooded with youngins who seemingly never thought that stocks could go down. _( And that was as breathtaking as it was _*_very dangerous_*_ .)_ I never saw Arcimoto as anything but an excellent *eToy* with _very limited practical use,_ and only in the _nicest of climates._ I wish that Mark could have kept it private and I hated to see him separated from his dream.. and all of those patents!
"Marketing costs were $2 million" wtf, they didn't even have mass production ready, not like paying money to acquire someone would accomplish anything. Honestly your recommendation for interns to make tiktoks was probably the best marketing idea until they had a mass production line. 15:56 also stuck out to me. "This super low ROI, mega capital intensive, extremely difficult, not high margin". Yeah, vehicle manufacturing is a nightmare. Crazy how you got to see firsthand, it was so easy to dismiss Elon's early quotes about it.
I have much respect for you and your honesty Gali. I did much the same in the cell phone telecom industry about 10 years and lost all my investment. It was a very enlightening education. Cheers
How is one of your "winners" SpaceX? Do you own a portion of SpaceX? Also being a "winner" in crypto requires details like what you bought and timing. You meant "winner" in the singular, Tesla.
For start-ups: Dysfunction cannot be tolerated. Carve it out wherever you find it. Hardcore. Not kind. Not nurturing. Hardcore. Good video. Thanks for posting.
I remember the first video you did on Arcimoto, and my conclusion then was it was a neat idea, but it would never be more than a small niche product with a very limited market at best. The leadership also seemed very big on talk about how great their idea's were but very thin on actual plans for execution, I didn't see them going very far.
What the customers want and need are cheap cars and not FUV, or Sono, or Aptera or the like. Also not over the top monster trucks without use case and 300K Cadillacs. What the customers want are a Toyota Corolla or Honda Civic from 1990 with Batteries. Forget Design. Forget Fun. Make it cheap.
@@wolfgangpreier9160They are all over China and Southeast Asia (made by Chinese companies) for about $5k. The consumers in America won't get them because they won't be legal to drive, and Biden just signed a 100% tax on Chinese EVs. But other countries are getting them
Thank you so much for your incite on what it's like to be a part of a board of a company and the things that you would potentially deal with. Thanks also for owning your loses and being as transparent as you can be.
Arcimoto and Proterra are easily my largest losses in my portfolio, but I don’t blame you at all. I made the choice to invest and I appreciate you giving us an update and making videos again
Gali. I can tell that you’ve been dying to tell us all about what’s been going on with Arc, but had your hands cuffed behind your back and learned the hard way that it’s a conflict of interest to be both on the board AND UA-cam influencer. In the end, we all still love you and glad to have you back. Your honesty speaks loudest, brotha. 🤙🤙
@@-whackd even so, being on the board made him to develop relationships which prevent him from warning the public about the stock unless he wants to make enemies out of them. Not an easy situation. I sympathize with him because I was in a similar situation.
The hustle was completely missing. Faster onboard charger was an obvious improvement (and *cough* doors), but here we are 4-5 years later and no change. The delays to the ramp was hard to watch, but when they finally started producing a few units I noticed their unsold inventory just kept going up (100+ units in inventory)... which means no sales??? Right there I lost all credibility as I feel I was lied to, and honestly those short reports turned out to be correct in the end when the 5k preorders just disappeared during one quarterly call.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Warren Buffett Gali is building a great reputation ever since I follow you 4 years ago. Keep up the great work. Guap is important but character and reputation are priceless.
As I have been saying for many years, the lesson of Tesla is that starting an EV company and surviving is close to impossible. Except for continually being undercapitalized, Tesla had every advantage, including no competition for a decade, buying a huge billion dollar factory for $42 million, having Elon Musk and JB Straubel, having almost all of their production ramp take place in an economic environment of abundant cheap capital with low interest rates. But Tesla still almost died three times. It seems like some of the other EV startups thought the lesson was just that one should start with a lot more capital, and others decided that an "asset light" approach was better so one did not need as much capital, and then there is the continual fantasy about a market for small maybe three wheeled EVs. In 2008 there were thirty "EV startups," and articles speculated which ones would succeed, and few picked Tesla, and most of those thirty were trying to launch small maybe three wheeled EVs. Aptera was one back then, and now they are back and trying to launch again. Elon Musk was right, you have to start with a high price low production volume car, which is not what a small maybe three wheeled EV is. Even if you do everything right, a small EV is going to be very small margins, and those readily go negative. What Elon did not mention is that if you want to start with a high price low volume car, you also better be the first or close to the first to market; you cannot introduce a high price low volume production car against an established top of their game competitor, because if you do your two choices are to offer an inferior product at the same price, or a competitive product but at a significantly higher price. I appreciated that everyone wants to see more competition, but I always pointed out that it was super unlikely these companies make it because really, Tesla used the force to shoot the teensy target and blow up the Death Star like five times or more to make it; for a long time everyone doubting them was being quite rational. Now Tesla at some point soon will launch their $25,000 model and their robo taxis, and then there is absolutely no possible path forward for a small vehicle EV startup.
I invested in Arcimoto because I liked the product and believed they had a chance to succeed and am sad that they are failing. My stock is now worth zilch and do not expect them to succeed. I still have all my shares like you do. Fortunately I also invested in TSLA at IPO and hold every share. Thanks for the discussion.
You might want to look at the Coyote. It's a 4 wheel drive personal mobility wheelchair. But it can go anywhere. Small enough to use in a grocery store but has a top speed of 28 mph and a range of 150 miles. Fits through doorways and checkout lines at stores.
Lol. Any jobs with meetings and group decisions is so hard. All my self employed friends know how hard it is to do on your own, but shared decisions are on another level!!!
Common, this thing was a bad idea from the start. It has all of the inconveniences of a car (big enough you need a full parking space to park it, can't go between cars like a motorcycle or bike) and none of the advantages (not enclosed/protected from the elements, not practical for luggage and boot). I'm fascinated why so many people bought into this.
There were doors and windows planned but doubt it will happen now. The idea is still solid, I would love one of these, but how it looks now, they might become like Elio Motors.
Thinking that the majority of vehicles are going to be little, tiny, 2 person, micro machine in the future seems like a half finished thought from someone that has no kids. It seems like you are looking at it from a statistics only perspective. If you think that having a vehicle that can haul 4 or more people when the majorly of trips only involve one or two, what are people supposed to do when they need to take more even just 20% of the time? Do you think it is more efficient to have separate vehicles for every scenario (only take your sedan when you need to haul the family, have a pickup you use just when you need to haul or tow something big, and a mini vehicle for the other stuff). It’s just not practical for most. People have big vehicles because it meets all there requirements with one vehicle. By the way, this is coming from someone that has an electric unicycle. Which is probably as micro mobility as it gets. I drive 25 miles to town with my vehicle and then I use the EUC for running errands it town when I can. The same thing can be said for range. I am so sick of people parroting the stat of most daily commutes are only 40 miles so why would you need 400+ miles of range. Because sometimes you need 400+ miles of range, that’s why. Just yesterday my wife got home in her long range model y with only 8% left from 80% the day before. She forgot to plug in ONE time the night before and only drives about 50 miles round trim to work. But we don’t all live in sunny California, and in South Dakota, it’s cold right now. The vehicle is parked in a heated garage every night and sits outside when she’s at work. It has to warm up on her lunch break and again for the ride home. In just two trips, about 100 miles, that is how far the “326 miles of range” got her using 72% of its battery capacity.
Thanks for this Gali! My frustration with Arcimoto is that they talked up the FUV as a car replacement but refuse to make a vehicle that actually is a car replacement. Silly me assuming they would go in that direction. Mark I agree it's nuts to use an SUV to grab a coffee.. unless it's 35 degrees F and raining. (I live near DC) I'm not gonna buy an FUV as an extra vehicle. I want it to replace my car and I like my car to be, y'know, weather-proof (cozy for humans in all weather). That is actually one of the wonderful things about cars. I can wear a sweatshirt and be comfortable in any weather. (I think there are many more people like me than people who want a covered trike.) I know there are barriers to this for small vehicles like FUV but it seems like they had no interest in even trying to make a weather-proof vehicle. Full doors for starters maybe? Not hard. Are there physics or regulatory reasons they did not do this? Also I was expecting them to do something great after they bought that tilt-wheel company. And they come up with a tilting pedal trike? That's a pet project, not a mainstream product. Not a step forward. How about making a tilting FUV with reduced axle width? Why else would you buy that company? If only our US laws weren't so wacky, restricting four-wheeled vehicles like this from the highway, Arcimoto could make a four wheeled FUV. That's my hope for them now... Unlikely but maybe someone (Microlino?) will be successful in lobbying against big auto to get the wacky laws changed to allow mini four wheeled electrics on the highway and Arcimoto will build a fast four wheeled FUV.
While I am sad to see the end of Arcimoto, but I am glad to see you making videos again. Not all your investments will be profitable, high risk = high gains. Take care of your mental health.
I also liked the idea of Archimoto - a more efficient form of electric mobility. I had an electric motorcycle but thought the tri-wheels were safer. What do you think about Aptera? I see them as another promising start up that is trying to get to volume production and profitability. Are the basic economics better for Aptera or worse?
I thought arcimoto is a good idea. I watched the FUV stock go down but I'm glad I didn't put my money in it. Lots of microcars now are coming out with more features. Thanks for this video thanks 👍
Great video thanks Gali. When Mark was shown the door I really thought they made a really bad decision. But of course business decisions are not easy, and I understand that profitability and production costs have been a huge issue. I still hope they somehow pull it together. The fact that they never got to sell in Canada is a bummer.
It's very difficult to begin by manufacturiing low-priced vehicles. It's much easier to do what Tesla did, starting with a halo vehicle and then the luxury market, where it's relatively easy to put $5000+ margins on each unit. Add to that the fact that these were not cars, but unique motorcyles with a largely unknown market and product-to-market fit, and this was much riskier than Tesla, Rivian, Lucid, or even Fisker, and of those, perhaps only Tesla will survive, despite all of them offering great products.
Appreciate the transparency. It shows that even with years of research, the outcome may not work out. As a shareholder, I wish Mark and you stayed on and those that were slow (and still there that's caused the stock to go down 99%) should be FIRED.
The stock went down because nobody wants the stupid product you invested in. The stock went up because they're were pulling in moron investors fueled on hopium.
Excellent Teaching quality by direct experience. Shows the difference between Engineering necessity of putting purposeful objectives before emotionally influenced Accounting that usually drives Investment in wildly variable Markets. Thanks for the neutrality of appropriate observations.
I never saw a big enough market for an open vehicle like this for it to make sense to invest. I do think there is a market for a small, efficient electric vehicle, which is why I did end up investing a little in Aptera, even though I feel from a distance like I'm not sure they have the hustle and discipline that it takes, either. But a car that doesn't need to be plugged in ever except on long road trips seems like a pretty sweet concept if they can make it happen. What are your thoughts on Aptera, Gali?
Didn't realize how much I've missed your videos and style until you started uploading again. You're the man.
Great video. Keep uploading for all of your fans!
Thank you bro!!! 💪🙌
FACTS bro
Thanks for the update.
I didn’t
Not to burst your bubble but you were probably the biggest contributor to the Arcimoto hype.
Because he doesn't follow the Chinese EV market. China makes cars better than the FUV for $5k.
I kept telling EVERYONE that the should have focused on the tilt e bike, it cheaper, takes fewer people to make, is easier to make, is shipable, would cost a LOT less, people without drivers licenses could buy it to get to work, and the range was pretty good ( up to 200 miles if i recall ) I got SO MUCH RESISTANCE for that form everyone.
I bought FUV in large part because of your recommendation. And I lost money. But I never lost or invested more than I could afford to lose. Thanks for putting a bow on this. I’ve wondered WTF happened.
That said, I also bought Tesla and I’m not rich by any means, but my Tesla wins greatly outweigh my Arc losses. Investing is a RISK I was willing to take.
Thanks for the video!
Remember the OLD DAYS of FUV, LUCID, WORKHORSE, NIKOLA, LORDSTOWN etc etc etc when everyone was trying to capitalize on Tesla's mojo !
im lucky my FUV investment was only about 15% of my initial TSLA investment. (still 15k loss basically)
@@hardcoreclassicenjoyer ouch. Still hurts. Hope you put that into Tesla a while ago.
Damn, lesson learned I guess, don't take advise from stupid youtubers lmao.
@@nr8813 and here you are in the comments so I can only assume you either watch Gali and now call him stupid because he couldn’t see the future or you’re just a troll trying to stir up trouble. Good luck with your own endeavors and investments.
I am also emotional about FUV. It is a beautiful concept with so many use cases. I hope there is another chapter to the story. Good to see you back.
I remember your first videos on Arcimoto - but did express a little concern when you announced your directorship. I too have had similar experiences... endless wasted hours in meetings, listening to others who loved the sound of their own voices. And the loudest among them were usually those who had the least to offer.
When they put an inexperienced director on the board (Gallie) that was when I questioned the stock. I never saw it as more than an electric motorcycle
Appreciate this. I started investing in FUV after watching your videos and doing a bunch of my own research. I sold at the end of last year for a nice $40k loss. Definitely needed this video to get some closure. Was a tough learning lesson for sure
holeefknsht ! I have lost at least that much on a handful of companies due to my own unbridled exuberance and it will take years for them to bounce back... if ever.
I was a mechanical engineer there from Oct 2021 to Oct 2022 at the 2nd round of layoffs. Knew of Gallie sorta but never met him. Was an amazing time working there, but we all knew the whole time that the focus was totally in the wrong spots.
Anyways, AMA
Thank you, I sincerely appreciate this video. I went on the ARC journey with you and it's good to hear it from your side to wrap up the adventure. Probably my most valuable investing lesson so far.
Mindblowing the bueraucracy just in that relatively small company - I have experienced similar life draining bureaucracy IRL, also in small companies, and it's basically the biggest blocker of achieving greatness.
This is the first time I played one of your videos to the end. It seems as though you had a great awakening. Very well done.
Glad you are back. I never understood investing in Arcimoto... I did not see a use case for the product. Zac and Jesse also told us about Arcimoto, repeatedly.
Met you at the RAMP event! We share the same sentiment. I still love the idea of Arcimoto. I think under the right leadership the product would be huge!
My first ever comment. I invested in Tesla but not Arcimoto. This UA-cam is your best. Not about investing but about what it takes to manage an organization and be a successful leader of a company.
I have a small amount of FUV that I bought long before they went up to $1 billion but I never sold it. Thanks for the new info about your experience with them. I miss the good ole days when $TSLA just kept going up and up and up and then I would see a new one of your videos and drop everything to watch it. It is nice to be hearing from you again.
No worries Gali. I did own shares, not a large position and followed the company. I was happy that you were on the board and had high hopes. Like I said I did follow FUV I did eventually sell it to buy SPCE. Production is hard. I was just thinking about you and FUV since you reappeared, so thank you for the update. Thank you for getting me jacked up on TSLA. Happy New Year. Fisker is going the way of Lordstown.
I always thought Arcimoto would have sold 100s of thousands of units in India (with a factory there), Thailand, etc., where they use small 2-stroke vehicles to get around. It’s a great product. I’m surprised a Chinese company hasn’t tried to buy them out for pennies on the dollar.
México would also be a good market for Arcimoto. Rickshaws are very where south of the border.
chinese companies already make electric trikes for a trillion times cheaper. Why would they want to buy garbage like arcimoto?
imagine thinking you know some market in Asia better than the consumers there do lol. You're completely detached from it. Cool dude yeah Indians want a 15k 1 person car instead of an ebike for $900.
Not familiar of any examples of Chinese companies acquiring American companies. If anything they would copy what works.
Yeah dude Indians always say "why would I pay $700 for an ebike or trike when I can pay 16k usd for an arcimoto? I'm Indian I hate money. I want to lose lots of money and get a really bad deal, this is what Indians want to do."
good market analysis
Yeah arcimoto looks like a great deal. Make a 16k one person vehicle instead of an electric trike for under a thousand dollars which are all over China already.
FUV / Arcimoto is still a brilliant concept. I bought in cautiously ... and even added later on when it'd turned into whispy air. The NEED is there for this type of small vehicle. It CAN be made. But as you said here, it's not materializing. Thanks for sharing this lesson.
Electric bicycles (or better "electrified") are the craze in Germany in the past 2 years. However these cost only a few $1000 - i.e. significantly less. en.wikipedia.org/wiki/Pedelec Basically if a grandma is overtaking you on your bike uphill she is "cheating" with such a "pedelec".
It is not some "concept" or genius idea. Great micro mobility 3 seater EVs exist in China for $5k that you can import.
FWIW not everyone you introduced to FUV who invested lost money. I made about 400% returns in the initial run up off a very small investment. Thanks for the transparency and happy to see you posting again.
I've been watching you for years. Saw when you got to talk on the the Tesla call. Love how you speculate with all that energy. I'm glad your back on UA-cam
Not trying to diss the leadership of Arcimoto. I actually made a few bucks on the stock. But leadership is hugely important at a startup. A big reason I started investing in Tesla back in 2013 was when I heard Elon speak about the need to get off of fossil fuels and felt his enthusiasm for EV’s. Also, he had a track record of success with his previous companies. And, most importantly, he was willing to risk it all - all $180 million of what he earned from those earlier ventures - on Tesla (& SpaceX). Only someone with supreme conviction, engineering knowhow, and an understanding of the importance of mass producing EV’s for humanity, would be willing to risk it all to make Tesla succeed. So, I invested in Tesla because of Elon Musk. And even HE and Tesla almost went bankrupt a couple of times over the years. But in the end, that investment has paid off big time - both for me and for the planet! My hats off to the founders and original leadership of Arcimoto for making a go of it. I think their idea will come to pass at some point.
Transparency is a good thing. Thanks
Good to hear about your experience on the board and thoughts about the company. I learned of Arcimoto from your first videos and took massive interest in their story. It seemed like such a cool company and product. The market was crazy about EVs, money was cheap and everywhere, transport seemed ripe for disruption. Wow how times change! In January 2021, I jumped into the stock with both feet, started getting friends and family to jump in as well. Rented a couple FUVs in San Diego and had a blast cruising around for a couple hours. I'm still holding all my shares, averaged all the way down, in for over 15k! Luckily, like you, Tesla is saving my ass. Live and learn!
Thank you Gali. I needed this from you. It is like you read my previous post on another video. Thanks for giving the rest of the story... Keep up the content and the brainstorming. Respect.
I owned a small amount of their stock and was lucky to sell with a small profit. When I saw a steady stream of new product prototypes but inability to execute, i.e. ramp production, I lost confidence in their abilities and dumped it.
"Mean Lean Machine" lol...
Yes, I was on the edge of Investing but when I kept seeing New product this, New product that... I just thought "Where is the focus? Why not concentrate on one or two things? Not all the other products." Then I invested more into Tesla instead. Cheers
Mark's laidback attitude was as far as I looked into it, zero confidence in lack of urgency and intensity.
I bought a relatively small amount of shares compared to Tesla and sold not at the top but with a good multiple of profit which I converted to more Tesla shares. As a motorcyclist of many decades I was concerned about their range and how that was perceived where they were targeting that market. I have always thought a battery swap system makes more sense for motorcycles (as per China e-scooters) unless a fast charge battery is developed (maybe in next few years). Business is tough and it takes tough decisions to stay in business. As a previous employer the hardest decision is sacking people who are not performing, even more so when you have to let good workers go because of economic decisions.
I've been waiting years for this video; thanks Gali for the dose of reality. I've been a modestly successful retail investor for about 30 years and summarize that by saying that 9 out of 10 stocks go to zero, while 1 in 10 goes to the moon, but you can't know in advance which will be the winner. I have also worked for several companies, often doing R&D. Rarely does a blue sky new product development project lead to profit. It's much more satisfying to make incremental improvements to an already profitable product line. A profitable company has so much more room to maneuver, whereas a startup or money-losing business is much more constrained. There are many more ways to be dead than alive. I still invest small amounts in high-risk unprofitable startups, hoping for a rare big win, because collectively we have to map the envelope of possibilities.
We're still here, still selling vehicles, still servicing them. It's hard but we aren't dead.
-The Service Technician
LOL ,more like on life support
Hi Gali
Thank you for this clarifying video. I hope really hopy that Arcimoto can recover in some way.
The concept still makes sense to me and that is a reason I made a small investment, that maybe can recover in a distant future.
So good to see you back on the UA-cam machine! Start-up world requires insane levels of work and dedication, and even with all of that, most fail. Glad you're taking your lessons, and sharing what you can.
Good to see an honest video looking at a case where you lost money investing. We all have these stories but we don't like to talk about them as much as our winners. For me the following have lost me money:
- Aurora cannabis
- Canopy Growth
- Crispr therapeutics
- Square/block
As you say, it's important to just learn something from these losses. It also helps when Tesla is a major part of your portfolio and easily covers your losses!
We all learn from our mistakes. I appreciate the transparency sir.
❤❤❤, appreciate the post mortem and insight behind the curtain when you were on the board! 👏👏🔥
I loved (love) the Arcimoto idea. Could never understand why the choice of battery tech was so wrong and all fixes took years . Range was wimpy when it could have been 3 times better and then the Arcimoto fleet could have turned into an irresistible product. I´m sure some big company will buy this brand and designs and we will see these vehicles everywhere by the thousands with better range and better marketing. Micromobility is the future, quiet, simple and nimble. Go Arcimoto !
Gali, what do you think about Aptera Motors? I was thinking about the reasons you said Arcimoto didnt succeed and wondering if Aptera had any of those flaws. I dont think they do but would love to get your take.
Thank you❤ I've been wanting for this one
That video was 5 years ago. What up Gali. Glad to see you back on UA-cam. Can you talk about any investments that Hyperguap has made? Any exits yet?
So happy you can finally talk about this. I’ve been super excited to get your thoughts and be able to learn about this experience.
I love a good behind the scenes tour and this video was one of the best. Welcome back man, we’ve missed ya
Being a board member is 100% worth it for the experience. You were paid in experience and I'm sure it is worth it at the end. If the job isn't awful there's nothing to learn, and you don't know how hard is hard until you try moving that boulder. You came out of this with better clarity and less tolerance for BS and that will serve you well in the future.
Having said that, for this video I think you were trying to state how 1) the management was too kind and never rid of non-performers while 2) production kept getting stalled with no improvement in sight. You were being a little too nice and the message of the video got a bit convoluted. All the investors for Arcimoto deserves the truth and you should know that we applaud you for the transparency. If you lose any friends for saying what you should say, then those are not friends worth having.
Gali, you were key in helping me to refocus on something I love to do after my retirement from IT. Business Analysis. I got in and out on Arcimoto with good gains and am all in on Tesla with mega gains.
Love how you see the world.
I love this. So informative, insightful. Please do some more of this content alongside your old type of content if you decide to come back (hopefully you do!).
I bought 1000 @ $2 in 2019 based on your feedback at the time. Sold everything Feb 2023 at a loss to reduce taxes on my Tesla profits... Rented in Florday and Eugene. I was enthusiastic, even visited the factory in October 2021. I just don't understand how they couldn't ramp production of such a simple machine. In the end I figured out that they had no sales pipeline and didn't want to scale up only to sit on inventory. I was also disappointed you were so quiet after joining the board.
Nobody wants to pay 17k to do the same things they're gonna do with an ebike or etrike, and not require insurance and registration lol. 17k + continued insurance costs compared to 1k???
"If you say no to a thing you say no to one thing. If you say yes to a thing you actually say no to every other thing you could have done."
--Tobi Lütke
Your description of how time-consuming being on the board was made me think of this quote. Thanks for the insight. Cheers:)
We learn more from our losses than from our wins
Gali!! The small loss in Arcimoto was quickly forgotten long ago in the shadow of tsla gains, and you’re the original Tesla Investment-Tuber. Bought my first share (tsla*) in 2015. We’re fellow travelers dude. Enjoying the journey!
*edit
Glad to have you back doing content Gali. We've missed you! You have a passion and a way of expressing that passion that few have.
Good stuff bro and thanks for the info. I too invested a bit of $ into them in hopes of a movement to start but obviously that movement wasn't meant to be at least for now. I like your analogy for what a city could be rather than thousands of full size vehicles running all around polluting and clogging up all the streets. I'm into Aptera for this very reason even though it's not quite as small as an Arcimoto it's still extremely efficient and practical. I'm in the NW out in Central Oregon and am an Oregon native, actually born in Eugene and grew up about an hour from there in the small town of Sweet Home. Your insights and thoughtfulness are great and I think that's what makes you a great UA-camr. Keep on keepin on bro 👍
Great video Gali. One other thing you should get props for is introducing Arcimoto to Sandy Munro and company so they could do a tear down and analysis. Only wish Arcimoto would have met Sandy 'before' they finalized the design - could have been a game changer. I bought and sold Arcimoto several times and made a lot of profit. Still have some shares that I swore I'd keep til they skyrocketed or busted. I still love the product and concept but manufacturing is hard. Thank you for sharing.
Sandy would have been a savior. If you look at Aptera, he made that company an instant success.
I missed the OG Gali giving us great investment ideas like XPEL.
I followed Arcimoto early on and felt the product was far too expensive for what it is. Compare with the micro EVs being marketed in China. How can they sell so cheap and Arcimoto need to sell for so much. I walked away without buying stock as I just couldn’t see it as viable. Probably only could have worked if made in China.
Thanks Gali, Fascinating update! Glad to hear u only put 10k in. It must of been an awesome learning experience.
Major props Gali for doing this episode! Thanks for letting us learn with you! Also love the nod to your art and how much passion you have to the future you wish to see. Don’t stop and it is a great episode!
*Mad Respect!* Arc launched during a time of _extreme-youthful-investor- exuberance_ ....... social media was flooded with youngins who seemingly never thought that stocks could go down. _( And that was as breathtaking as it was _*_very dangerous_*_ .)_ I never saw Arcimoto as anything but an excellent *eToy* with _very limited practical use,_ and only in the _nicest of climates._ I wish that Mark could have kept it private and I hated to see him separated from his dream.. and all of those patents!
"Marketing costs were $2 million" wtf, they didn't even have mass production ready, not like paying money to acquire someone would accomplish anything. Honestly your recommendation for interns to make tiktoks was probably the best marketing idea until they had a mass production line.
15:56 also stuck out to me. "This super low ROI, mega capital intensive, extremely difficult, not high margin". Yeah, vehicle manufacturing is a nightmare. Crazy how you got to see firsthand, it was so easy to dismiss Elon's early quotes about it.
Bro I love the transparency & authenticity. Keep crashing it and teaching all of us in the process.
I've been on this journey with you. I too have learned so much. I really appreciate your transparency. You have earned my respect!
Thank you! I did wonder what happened! Also you were not making videos as frequently as before.
They would be brilliant in India
I have much respect for you and your honesty Gali. I did much the same in the cell phone telecom industry about 10 years and lost all my investment. It was a very enlightening education. Cheers
How is one of your "winners" SpaceX? Do you own a portion of SpaceX? Also being a "winner" in crypto requires details like what you bought and timing. You meant "winner" in the singular, Tesla.
For start-ups: Dysfunction cannot be tolerated. Carve it out wherever you find it. Hardcore. Not kind. Not nurturing. Hardcore.
Good video. Thanks for posting.
Good info man, thanks for keeping it real about the situation!
Hey Gali, could you do a TESLA vs BYD comparssion video?
I remember the first video you did on Arcimoto, and my conclusion then was it was a neat idea, but it would never be more than a small niche product with a very limited market at best. The leadership also seemed very big on talk about how great their idea's were but very thin on actual plans for execution, I didn't see them going very far.
What the customers want and need are cheap cars and not FUV, or Sono, or Aptera or the like. Also not over the top monster trucks without use case and 300K Cadillacs.
What the customers want are a Toyota Corolla or Honda Civic from 1990 with Batteries. Forget Design. Forget Fun. Make it cheap.
@@wolfgangpreier9160They are all over China and Southeast Asia (made by Chinese companies) for about $5k.
The consumers in America won't get them because they won't be legal to drive, and Biden just signed a 100% tax on Chinese EVs. But other countries are getting them
Thank you for addressing this company.
Thank you so much for your incite on what it's like to be a part of a board of a company and the things that you would potentially deal with. Thanks also for owning your loses and being as transparent as you can be.
Arcimoto and Proterra are easily my largest losses in my portfolio, but I don’t blame you at all. I made the choice to invest and I appreciate you giving us an update and making videos again
Your insights about being on a board are great information, never heard that before, thanks.
Gali. I can tell that you’ve been dying to tell us all about what’s been going on with Arc, but had your hands cuffed behind your back and learned the hard way that it’s a conflict of interest to be both on the board AND UA-cam influencer. In the end, we all still love you and glad to have you back. Your honesty speaks loudest, brotha. 🤙🤙
He's been off the board for a year
@@-whackd even so, being on the board made him to develop relationships which prevent him from warning the public about the stock unless he wants to make enemies out of them. Not an easy situation. I sympathize with him because I was in a similar situation.
Thanks for the honesty about being on a board. I am thinking about volunteering my time on a non profit board and this gives me pause.
The hustle was completely missing. Faster onboard charger was an obvious improvement (and *cough* doors), but here we are 4-5 years later and no change. The delays to the ramp was hard to watch, but when they finally started producing a few units I noticed their unsold inventory just kept going up (100+ units in inventory)... which means no sales??? Right there I lost all credibility as I feel I was lied to, and honestly those short reports turned out to be correct in the end when the 5k preorders just disappeared during one quarterly call.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently." Warren Buffett
Gali is building a great reputation ever since I follow you 4 years ago. Keep up the great work. Guap is important but character and reputation are priceless.
As I have been saying for many years, the lesson of Tesla is that starting an EV company and surviving is close to impossible. Except for continually being undercapitalized, Tesla had every advantage, including no competition for a decade, buying a huge billion dollar factory for $42 million, having Elon Musk and JB Straubel, having almost all of their production ramp take place in an economic environment of abundant cheap capital with low interest rates. But Tesla still almost died three times. It seems like some of the other EV startups thought the lesson was just that one should start with a lot more capital, and others decided that an "asset light" approach was better so one did not need as much capital, and then there is the continual fantasy about a market for small maybe three wheeled EVs. In 2008 there were thirty "EV startups," and articles speculated which ones would succeed, and few picked Tesla, and most of those thirty were trying to launch small maybe three wheeled EVs. Aptera was one back then, and now they are back and trying to launch again.
Elon Musk was right, you have to start with a high price low production volume car, which is not what a small maybe three wheeled EV is. Even if you do everything right, a small EV is going to be very small margins, and those readily go negative. What Elon did not mention is that if you want to start with a high price low volume car, you also better be the first or close to the first to market; you cannot introduce a high price low volume production car against an established top of their game competitor, because if you do your two choices are to offer an inferior product at the same price, or a competitive product but at a significantly higher price.
I appreciated that everyone wants to see more competition, but I always pointed out that it was super unlikely these companies make it because really, Tesla used the force to shoot the teensy target and blow up the Death Star like five times or more to make it; for a long time everyone doubting them was being quite rational. Now Tesla at some point soon will launch their $25,000 model and their robo taxis, and then there is absolutely no possible path forward for a small vehicle EV startup.
Thanks for sharing those experiences you have a unique perspective that makes them very valuable.
I invested in Arcimoto because I liked the product and believed they had a chance to succeed and am sad that they are failing. My stock is now worth zilch and do not expect them to succeed. I still have all my shares like you do. Fortunately I also invested in TSLA at IPO and hold every share. Thanks for the discussion.
You might want to look at the Coyote. It's a 4 wheel drive personal mobility wheelchair. But it can go anywhere. Small enough to use in a grocery store but has a top speed of 28 mph and a range of 150 miles. Fits through doorways and checkout lines at stores.
Lol. Any jobs with meetings and group decisions is so hard. All my self employed friends know how hard it is to do on your own, but shared decisions are on another level!!!
Much appreciation for this video. It's great to be open about the wins but even more on the losses.
What is happening g now? Is anyone buying the IP?
Love the transparency. Good to know why your time on the board didn't go well.
I've been on a few committees and not a fan of working on them :(
Lots of respect for this take 💪🏼
How does your experience with arcimoto color or affect your outlook on the prospects for Aptera?
Ton of respect to you for making this video.
Common, this thing was a bad idea from the start. It has all of the inconveniences of a car (big enough you need a full parking space to park it, can't go between cars like a motorcycle or bike) and none of the advantages (not enclosed/protected from the elements, not practical for luggage and boot). I'm fascinated why so many people bought into this.
There were doors and windows planned but doubt it will happen now.
The idea is still solid, I would love one of these, but how it looks now, they might become like Elio Motors.
Thinking that the majority of vehicles are going to be little, tiny, 2 person, micro machine in the future seems like a half finished thought from someone that has no kids. It seems like you are looking at it from a statistics only perspective. If you think that having a vehicle that can haul 4 or more people when the majorly of trips only involve one or two, what are people supposed to do when they need to take more even just 20% of the time? Do you think it is more efficient to have separate vehicles for every scenario (only take your sedan when you need to haul the family, have a pickup you use just when you need to haul or tow something big, and a mini vehicle for the other stuff). It’s just not practical for most. People have big vehicles because it meets all there requirements with one vehicle. By the way, this is coming from someone that has an electric unicycle. Which is probably as micro mobility as it gets. I drive 25 miles to town with my vehicle and then I use the EUC for running errands it town when I can.
The same thing can be said for range. I am so sick of people parroting the stat of most daily commutes are only 40 miles so why would you need 400+ miles of range. Because sometimes you need 400+ miles of range, that’s why. Just yesterday my wife got home in her long range model y with only 8% left from 80% the day before. She forgot to plug in ONE time the night before and only drives about 50 miles round trim to work. But we don’t all live in sunny California, and in South Dakota, it’s cold right now. The vehicle is parked in a heated garage every night and sits outside when she’s at work. It has to warm up on her lunch break and again for the ride home. In just two trips, about 100 miles, that is how far the “326 miles of range” got her using 72% of its battery capacity.
Thanks for this Gali! My frustration with Arcimoto is that they talked up the FUV as a car replacement but refuse to make a vehicle that actually is a car replacement. Silly me assuming they would go in that direction. Mark I agree it's nuts to use an SUV to grab a coffee.. unless it's 35 degrees F and raining. (I live near DC) I'm not gonna buy an FUV as an extra vehicle. I want it to replace my car and I like my car to be, y'know, weather-proof (cozy for humans in all weather). That is actually one of the wonderful things about cars. I can wear a sweatshirt and be comfortable in any weather. (I think there are many more people like me than people who want a covered trike.) I know there are barriers to this for small vehicles like FUV but it seems like they had no interest in even trying to make a weather-proof vehicle. Full doors for starters maybe? Not hard. Are there physics or regulatory reasons they did not do this?
Also I was expecting them to do something great after they bought that tilt-wheel company. And they come up with a tilting pedal trike? That's a pet project, not a mainstream product. Not a step forward. How about making a tilting FUV with reduced axle width? Why else would you buy that company? If only our US laws weren't so wacky, restricting four-wheeled vehicles like this from the highway, Arcimoto could make a four wheeled FUV. That's my hope for them now... Unlikely but maybe someone (Microlino?) will be successful in lobbying against big auto to get the wacky laws changed to allow mini four wheeled electrics on the highway and Arcimoto will build a fast four wheeled FUV.
Thanks for making this video Gali. I like Arcimoto's vision too.
While I am sad to see the end of Arcimoto, but I am glad to see you making videos again. Not all your investments will be profitable, high risk = high gains. Take care of your mental health.
Dont worry, a company that nobody wanted their products failed. And great companies that actually gave affordable products to customers survived.
So glad you’re back Gali
Given what happen to Arcimoto, what does the future hold for Aptera? I'm rooting for Aptera, but it seems like such a uphill battle.
Gali is so back
Really enjoyed this video, was always wondering what happened. Nice sincere video, without the hype.
I also liked the idea of Archimoto - a more efficient form of electric mobility. I had an electric motorcycle but thought the tri-wheels were safer. What do you think about Aptera? I see them as another promising start up that is trying to get to volume production and profitability. Are the basic economics better for Aptera or worse?
Sometimes you express in art the things you cannot say. Good presentation.
I thought arcimoto is a good idea. I watched the FUV stock go down but I'm glad I didn't put my money in it. Lots of microcars now are coming out with more features. Thanks for this video thanks 👍
Great video thanks Gali. When Mark was shown the door I really thought they made a really bad decision. But of course business decisions are not easy, and I understand that profitability and production costs have been a huge issue. I still hope they somehow pull it together. The fact that they never got to sell in Canada is a bummer.
It's very difficult to begin by manufacturiing low-priced vehicles. It's much easier to do what Tesla did, starting with a halo vehicle and then the luxury market, where it's relatively easy to put $5000+ margins on each unit. Add to that the fact that these were not cars, but unique motorcyles with a largely unknown market and product-to-market fit, and this was much riskier than Tesla, Rivian, Lucid, or even Fisker, and of those, perhaps only Tesla will survive, despite all of them offering great products.
Appreciate the transparency. It shows that even with years of research, the outcome may not work out. As a shareholder, I wish Mark and you stayed on and those that were slow (and still there that's caused the stock to go down 99%) should be FIRED.
The stock went down because nobody wants the stupid product you invested in. The stock went up because they're were pulling in moron investors fueled on hopium.
Excellent Teaching quality by direct experience.
Shows the difference between Engineering necessity of putting purposeful objectives before emotionally influenced Accounting that usually drives Investment in wildly variable Markets.
Thanks for the neutrality of appropriate observations.
I never saw a big enough market for an open vehicle like this for it to make sense to invest. I do think there is a market for a small, efficient electric vehicle, which is why I did end up investing a little in Aptera, even though I feel from a distance like I'm not sure they have the hustle and discipline that it takes, either. But a car that doesn't need to be plugged in ever except on long road trips seems like a pretty sweet concept if they can make it happen. What are your thoughts on Aptera, Gali?