Part 6/11:
Musk addressed the broader economic environment, emphasizing Tesla’s strong cash position—around $20 billion—and the importance of keeping powder dry. He acknowledged the potential for recession (mild, moderate, or severe) and stressed the significance of increasing income streams to prepare for possible downturns. His approach mirrors Warren Buffett’s famous adage of buying during downturns, citing the 2008 financial crisis as a prime example where assets were on sale.