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RIP Cybertruck

Happy Friday.

We’re live on YouTube and 𝕏.

The current thing in tech and business is Tesla winding down Cybertruck production.

Today’s Lineup

Figma CFO Praveer Melwani at 11:45 AM
Zipline Founder & CEO Keller Clifton at 11:55 AM
Julius Founder & CEO Rahul Sonwalkar at 12:10 PM
Siegelman Stable Founder & CEO Max Siegelman at 12:15 PM
Time BioVentures Co-Founder & General Partner D.A. Wallach at 12:40 PM

Run of Show

RIP Cybertruck

Elon announced last night on 𝕏 that Tesla will wind down Cybertruck production to make room for more Cybercabs. Sad day for Cybertruck fans, who are calling it the “end of an era.”

Definitely the end of an era, but Elon says the fleet will still be around for a long time. It makes sense though with Robotaxi now being available in Austin, Houston, Dallas, Fort Worth, Miami, Tampa, and Orlando and coming soon to San Antonio, Las Vegas, and Phoenix.

Jordi got a Cybertruck not too long ago. Here’s how he describes the feeling of being in the truck with full self-driving:

Once you drive it there’s no way you can go back. It’s the first technology I’ve tried that feels life changing. It’s magical. It feels like something we should’ve had for a long time, but it’s here now and it works.

As a fan of the Cybertruck, I’m actually okay with this. Mainly because I just really love being in a Cybercab and want to see them expand to other cities like Los Angeles. Whenever I’m back home in Austin I get so excited to be in a Cybercab. I was there last weekend and I think I ordered 6 of them and tried to convince all my friends to join me. Totally blows the Waymo experience out of the water. The butterfly doors, no steering wheel, you can basically lay your seat all the way down while you’re in there. But still, long live the Cybertruck.

Jobs Report

The jobs report came in way stronger than expected. The U.S. added 165,000 jobs in October, nearly tripling the 59,000 jobs that economists were expecting, and unemployment getting back to 4.1%.

Professional and business services added 70,000 jobs, manufacturing added another 19,000, including gains in computer and electronics-related industries. So at least for now, the data doesn’t really support the idea that AI is stealing white-collar jobs.

One stat that stood out was workers’ compensation fell to just 53% of nonfarm business output last quarter, which is the lowest share in 80 years of data. Basically, the economy is producing more, but workers are getting a smaller share of that value through wages and benefits. That doesn’t mean the other 47% is all corporate profit, but it does help explain why the economy can look strong on paper while a lot of workers still don’t feel better off.