Ford EVs for All, $48B for Musk, App Data for Insurance

Paul J Daly: 0:00

It's Friday, June 14, it's Friday already. It's June 14. All right, we're halfway through June kidding me. Talking about 40 these for every 140 8 billion for musk, and app data go into insurance companies, you may or may not be aware of who isn't who I be. If you're a marketer, you may not be surprised at

‍Unknown: 0:30

all. They all have all

Paul J Daly: 0:35

this there's an interesting nuance this last one they do they do have all they all have, they all have it all. This one's interesting at the end. Ah, the middle of June. Here we are. It's it feels like it was I don't know

Kyle Mountsier: 0:47

about you verse. But we went from like, Oh, this is such a nice spring. Morning. And afternoon, mid 50s. High 70s. Low 80s. This morning, it's like now 73 In the morning, 97 in the afternoon, and we're not leaving that plan.

Paul J Daly: 1:05

It's yeah, that's the plan for the foreseeable future in Syracuse, it's going to be in the mid 90s Next week, which is the big deal. I mean, right here. It's like you know, it snows an eighth of an inch in Nashville, everybody. Everybody buys the water and toilet paper. Same thing happens once we press 95 up here. real feel of 100 It's like people are walking around

Kyle Mountsier: 1:24

in shorts only outside right? Let's not go there. Let's not go there.

Paul J Daly: 1:30

Oh, we have a bunch of stuff. We had a fun time yesterday on the show. releasing our new edition of Auto Collabs a new episode of Auto Collabs with Kaylee Jewett 13 year old you gotta go check that out but we also have been releasing two a days we're doing two days now. Basically, a soda concessions podcast was recorded live at ASOTU CON in front of a live audience, or at least two of these a day. They're very fast 1520 minutes which if you're on 1.5 speed you're somewhere between 11 and 15 minutes. Today I don't know Is this accurate? Velocity beats volatility we're getting thumbs up from Nathan. Velocity beats volatility us Evie market with our boy Jimmy Douglas, and also how Eevee leasing can drive consumer acceptance with Matthew Hakan. So two very, very sharp people, lots of experience in the Eevee space. Jimmy used to work at Tesla. And now he has plug Matthew Hagin owns a pole star dealership is one of the first to adopt that. So if you want a little perspective of like boots on the ground, what it's like that's your jam right there. You can just search a so to con sessions or just searches so do it'll pop up or go to ASOTU.com

Kyle Mountsier: 2:38

I'm excited because I got a couple of plane rides next week. You're gonna listen to them all Well, one of them. That's it's like been my plan. I've been waiting on the plane ride to listen to download those

Paul J Daly: 2:47

suckers and just bang through. They're so good every time and the ones that have been released have been so good and it's fun for you and I because we didn't get to participate in the shorty of those

Kyle Mountsier: 2:57

seats to hear people like Dan shine and Joe Overby Joe Overby and Alanna chick Italie serraglio.

Paul J Daly: 3:05

Monday, all the hosts

Kyle Mountsier: 3:07

Come on. So good strategy who thought together community thought? Speaking who thought of that, oh,

Paul J Daly: 3:15

oh, everybody knows who thought about doing a little bit of a humble app. Right now it's official, Ford is opening evey sales to its entire dealer network starting fifth 16 days now July 1, aiming to better serve customers and adapt to the evolving market, Ford's going to end it's very costly for them. And for dealers model II electric vehicle certification program, just less than two years since it rolled out dealers now invest, they're going to be investing in training via Ford University, which is pretty dope, we have an inside look at that. And they have to install level two level two chargers, less expensive ones everyone can handle that. Basically, the Ford Model EC O, Martin Jaja said we want to lower the bar and let people get in, he continued, The most important thing we can do for our dealers and for our business is to change it and not just keep pounding away at the same strategy. So dealers do have to complete the training, obviously, regarding the dealers, though, who invested heavily in the program. I mean, we're talking upwards of half a million to a million dollars early on, so that they could have the privilege of selling a 40 eV. It's unclear whether or not there will be any financial consideration or other type of consideration, inventory, etc. Judge that went on to say regarding this, he said based on what we knew at the time, we think it was the right call. We believe we're pivoting in the right time to take advantage to what's happening in the market. The market has changed. He says it's humbling but almost Yeah, he did. But for the most important thing we can do for our dealers and our businesses to change with it and not just keep banging away.

Unknown: 4:54

Right. So he said hey, go to change give the man

Kyle Mountsier: 4:57

some golf clap golf club teams. Some golf clubs

Paul J Daly: 5:00

what else are they gonna do? I invested a million dollars now you get to have a 50 car inventory of Maki's on my lot.

Kyle Mountsier: 5:08

Yeah, right. I am I'm wondering about if I was one of those dealers that put that said like, Oh, no that questions been asked that are yes, someone's going give me the preferential inventory refund me something rather don't don't think a couple lawyers aren't reviewing those agreements either done. Absolutely. Well, and here's the thing, I think, obviously better, right? More mass adoption across different channels all across the US Ford already has I think it's like 3200 or 3300 retail locations, which means they have they actually have the largest retail network in the US from just a pure rooftop standpoint. So this is just going to I think accelerate adoption because you never know the places where you're gonna see adoption right? The like managing the market based on the dealers willing to get into the market based on their research was always going to be something that left out a good segment of the market and so I'm interested to see like, hey, maybe this actually paces up the adoption because people that couldn't think your will surely get one now have the access

Paul J Daly: 6:17

I drove by this small dealership this little town that we go boating in as little Ford dealership, sleepy little dealership, but a very fluent in town. They don't they didn't go with the program, I can tell because they don't have any inventory. But I bet I'm going to start seeing some lightnings and some hotkeys. And the ironic thing is, this is this is a dealership where I see a lot of EVs. Right? I see Tesla's I see rivi ins like I see people, people buy the new stuff in this town. So I think that's a great example. You know, I think the whole thing is just another lesson to be learned and saying like, you can't tell the market what it wants. And Ford kind of got wrapped up in that and the government excitement over it and forcing it. And Ford jumped in early, tried to be an early adopter and you know, made a couple of missteps. They're stepping back. They're saying it's humbling. We'll see what they do and how they make it nice for the dealers who gave them money. I'm sure they'll figure it out. I mean, we know that grant for train station, you know what I mean? the fanciest they got it gives everybody they get the 50% off coupons at the snack store will probably make everybody else feel a little bit better. Speaking of feeling a little bit better this morning segue. More than 50% off though he is Tesla shareholders officially approved Elon Musk's $48 billion pay package. That's a lot of money. He used to be 55. But the stock went down. But still he took a little seven $7 billion haircut but he's okay now. But he can't celebrate just yet. Although he's doing a little bit of a victory dance shareholders approved his compensation package clarifying his role as the CEO of Tesla. They want him there amongst a broad retail investor support. So like the everyday Joe's who owned some Tesla's stock, they very highly over indexed in support of this. One surprise was Vanguard, who represents upwards of 50 million investors and Tesla's largest outside shareholder, they switch their vote in favor of the pay plan when in 2018, they came out pretty staunchly against it. They want the motivational value from musk and really paint the picture that you know, he has actually performed the way he said he would and created value. He expressed gratitude to his shareholders with the pay package. But basically, he said, quote, hot damn, I love you guys. He said at their annual share. That's the annual shareholder shareholder meeting? Absolutely. Still, a court has to approve the shareholder, the compensation package, but they did also get approved reorganizing in Texas instead of Delaware. So the voice of the people has spoken. They say we want to get out of Delaware and move to Texas. And we want Elon Musk to get a couple of bucks.

Kyle Mountsier: 8:52

Look, if I'm a Tesla shareholder, and that thing thing keeps going up and to the right. I don't care how much you're paying the CEO, as long as it's going up into the right, let's go well, it hasn't been any it has all the way up into the right. But like still steady overall

Paul J Daly: 9:06

value lifetime growth. Absolutely. And we'll see what they come up with next. I think it's, you know, one of the one of the things that Elon talked about, and this is I think, is a real critical component of strong leadership is believing and how they're going to think of new things in the future and betting on that as well. And so like when it comes to AI, robotics, etc. You know, Elon has said many times he goes like any IP, that is going to happen inside Tesla. And I get the benefit of leveraging all of my companies together and the IP, the Tesla shareholders are going to get disproportionate value for that, and opportunities to invest in those first. So I fully agree like I think he should have gotten the money from the beginning. It's he he did what he said. I mean, even if you look at SpaceX, he changed the whole space industry, I guess we'll call it and government contracts by saying no, no, none of this like you get cost plus no matter how long it takes, whatever he's like, No, I only get paid if I do what I say I'm going to do he literally changed the whole industry that way. How can you I mean, the auto industry is like all about that, right? Absolutely. Like nothing else exists in auto but that

Kyle Mountsier: 10:09

Exactly. Yep. Performance Base all the way. Speaking

Paul J Daly: 10:13

of Performance Base, segue

Kyle Mountsier: 10:19

oh boy, have you ever felt like you were being watched? You might be right. According to a New York Times report apps on your phone or tracking your get

Paul J Daly: 10:27

this? Yeah, we knew location. We knew search history knew all that stuff. Well, what's this one

Kyle Mountsier: 10:31

your driving habits, meaning you fast accelerated and getting had. Selling the data in two ensures insurers are buying data from apps like light 360, which is a parent tracking app, my radar, weather app and Gas Buddy and that for saving on fuel costs. These apps have driving analysis features powered by arity. An Allstate founded analytics, for instance, gap GasBuddy offers to help you impure improve your fuel economy by tracking your driving habits, which they're also selling back to the company that is powering all of this arity and analyzes driving data to provide individual risk scores to insurers. And this data collection, it's happening, no matter the insurance logo on your bill, because it's all piped into a data pipeline. So I think that

Paul J Daly: 11:24

yeah, in providing individual driving habits scores, this is I think, for me, where it's not like, oh, it's not abroad. Oh, most users like this is most users. This is like, I'm identifying that Kyle signed up for this app. It is Kyle, he is insured by you, here is how he's driving, adjusts his score accordingly. That's pretty that's pretty deep in the personalization side, right? In my mind,

Kyle Mountsier: 11:48

but if you're driving, you're an authenticated user. So that can happen. Right? Here's the deal. What if you're not driving?

Paul J Daly: 11:53

What if you were somebody else? Oh, what if you ride to the car? Somebody else? What if you're in public transport? What if you're an Uber? What if, what if you ride a motorcycle, right? You're gonna accelerate faster than a car just by the nature of what the car is. So I think I'm not a fan of this. Obviously. They're like, Oh, I'm not Oh, you, you overstayed you agreed and your terms and conditions, right? Like, this is this is gonna, this is gonna be a thing. Mark my words, it's coming. It's gonna be a thing. So if you have any of those apps gasp but I mean, who knows what else? It's what else? Oh, it's,

Kyle Mountsier: 12:25

yeah, that's what I said at the beginning. Like they got your data and they got it good. And they know what they have. And they use all of this. Great. So

Paul J Daly: 12:33

we got the data. We got it. Got it real good. We hope you had a good time on the show with us this morning. Hey, we release an email every day. That's really good. If you don't get it, it's worth 60 seconds every morning. It'll make you smile. Go to a So to.com get the email for free we'll see you.

Unknown: 13:01

Later

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