Cheaper Teslas are hurting profits, but Elon Musk plans to keep slashing prices. Here's why.

Tech Insider
Tesla Inc CEO Elon Musk dances onstage during a delivery event for Tesla China-made Model 3 cars in Shanghai
Tesla's price cuts hammered its profit margins last quarter.

Aly Song/Reuters

Tesla's price cuts highlight Elon Musk's last advantage in the EV business

Tech Insider : Technology
Elon Musk attends The 2022 Met Gala Celebrating
Elon Musk.

Dimitrios Kambouris/Getty Images

Hi, I'm Matt Turner, the editor-in-chief of business at Insider. Welcome back to Insider Today's Sunday edition, a roundup of some of our top stories. 

On the agenda today:

Elon Musk spoke about crystal balls, bank lending, self-driving cars and lithium refineries this week. Here are his 10 best quotes from Tesla's Q1 earnings call.

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Elon Musk
Elon Musk.

REUTERS/Mike Blake

Why one investor says Elon Musk's reign as CEO of Tesla, Twitter, and SpaceX may be 'entering the end game'

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elon musk
Elon Musk.

REUTERS/Steve Nesius

Tesla investors call for 'distracted' Elon Musk to be reined in as they worry he's 'overcommitted'

Tech Insider
Elon Musk composite with Twitter and Tesla logos
Elon Musk is the CEO of both Twitter and Tesla, in addition to leading Boring Company and helping run SpaceX.

Getty Images

Tesla saw a $56 billion stock rout in a single day, an amount that dwarfs Ford's market cap

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Tesla electric cars charge at a Supercharger.
Tesla electric cars charge at a Supercharger.

George Rose/Getty Images

Ford CEO Jim Farley says Tesla price cuts could start an EV price war

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Jim Farley and Elon Musk
Jim Farley and Elon Musk.

Associated Press

Meta just surged past Tesla in market value for the first time in 16 months

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Mark Zuckerberg
Meta's market capitalization passed Tesla's for the first time since December 2021 on Thursday.

Facebook

Ark's Cathie Wood once again hypes Tesla – expecting her darling stock to hit $2,000 in five years thanks to a robotaxi boom

Tech Insider
Cathie Wood
Ark Invest's Cathie Wood.

Photo by Marco Bello/Getty Images

Elon Musk's wealth drops by nearly $13 billion — the biggest slide this year — after Tesla's share prices slumped and SpaceX's Starship rocket exploded

Tech Insider
Elon Musk wearing a tuxedo
Elon Musk's net worth fell $12.6 billion on Thursday.

May 2, 2022. REUTERS/Andrew Kelly

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