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Elon Musk responds to anti-Tesla ETF closing its doors after heavy losses

Steve Jurvetson, CC BY 2.0 , via Wikimedia Commons

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Tesla CEO Elon Musk recently shared a response to news of the upcoming closure of a fund that was, among other things, short TSLA. The fund, which was also a vocal critic of Tesla bulls such as ARK Invest CIO Cathie Wood, is closing its doors amid notable losses. 

In an announcement earlier this week, the Board of Trustees of Tidal ETF Trust noted that the Noble Absolute Return ETF (NOPE) would be closing its operation. In a press release, Tidal noted that liquidating and closing the fund would be in the best interest of its shareholders. 

Elon Musk, for his part, observed on X, his social media platform that was formerly known as Twitter, that TSLA shorts seem to be gluttons for punishment. Musk’s comments seem quite justified considering that Tesla shorts have incurred heavy losses over the years.

“Tesla shorts sure are gluttons for punishment! I mean, how many times do they want to do this!?” Musk wrote in a reply on Twitter. 

The fund, which was launched just last year, would be throwing in the towel with less than $19 million in assets and a notable 68% decline since the start of 2023. The fund actually showed some promise last year, but this 2023, it has been battered by a bullish market and the performance of stocks like Tesla. 

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George Noble, the fund’s manager, went long oil and gas stocks with the Noble Absolute Return ETF. He also shorted Tesla, Coinbase, DraftKings, Roku, and ARK Innovation ETF, which is managed by TSLA bull Cathie Wood. With the S&P 500 up more than 20% through July and stocks like TSLA recovering strongly, it was no surprise that the Noble Absolute Return ETF incurred heavy losses. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads-up. 

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla Cybertruck slapped with world’s least intimidating ticket, and it’s pure cringe

One cannot help but cringe and feel second-hand embarrassment at the idea of a person just driving around with a stack of these babies.

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Credit: Ryan Torres/X

A Cybertruck parked at Stanford Shopping Center in California was recently hit with what might be the most try-hard piece of paper ever slipped under a wiper blade: a “fake citation” accusing the driver of supporting a “fascist car.” 

The note, shared on X by Tesla staff program manager Ryan Torres, quickly made the rounds on X, where it quickly gained attention as an example of how not to protest.

The world’s least intimidating ticket

According to the citation, the supposed “violation” was “driving a fascist car.” The remedial action? Take the bus, call an Uber, or ride a bike. The note also dubbed Elon Musk a “chainsaw-wielding Nazi billionaire.” Now, protests against Tesla and Elon Musk have become commonplace this year, but one cannot help but cringe and feel second-hand embarrassment at the idea of a person just driving around with a stack of fake anti-Tesla/Musk citations.

Torres pointed out the irony himself in his post on X. Tesla currently employs over 140,000 Americans, and SpaceX has put the U.S. firmly back at the top of space technology. As Torres put it, maybe the person behind the world’s least intimidating ticket should “read a book on innovation before vandalizing” other people’s property.

Peak performative clownery

Not to mention that the fake ticket’s logic collapses under its own weight. EVs like the Cybertruck are literally designed to reduce emissions, not “destroy the economy.” If anything, Tesla has bolstered the United States’ economy by fueling jobs in engineering, manufacturing, and clean energy. It’s not the first time a Tesla has been the target of vandalism or politically charged notes, but this one stands out for sheer cringe value. 

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Torres summed it up neatly: “Peak clownery.” On that point, at least, the citation earns full marks. In a way, though, perhaps cringe fake tickets are not as bad as the literal firebombs that were being thrown at Tesla stores and cars earlier this year because some critics were gleefully misinformed about Elon Musk.

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Why a Tesla Model Y led to a teen’s failed driving exam in Ontario

The issue was due to the driver using the Model Y’s regenerative braking system.

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A North Bay, Ontario man has raised concerns after his teenage daughter failed her G driver’s license road test while driving his Tesla Model Y. The issue, the Tesla owner noted, was due to his daughter using the Model Y’s regenerative braking system to bring the car to a stop.

Regenerative braking bias

Eric Simard, the Tesla owner, told CBC News that his daughter borrowed his car for her driving test. Because of this, she was not fully familiar with how to disable the Model Y’s regenerative braking system. Unfortunately, the examiner did not allow his daughter to call him for help in turning off the feature.

Simard noted that his daughter ultimately failed her driving test because she never used the car’s physical brake pedal. In his daughter’s road test results from Drive Test Ontario, the examiner marked a box stating that the Model Y was “out of order. 

“I find it pretty frustrating because even though it’s regenerative braking and you’re not using the brake pedal, you’re clearly the one that is in full control of making the vehicle come to a stop or to slow down,” Simard stated, adding that his daughter was also penalized for the Model Y’s feature that alerts drivers when a traffic light turns green. 

Discussions on driver-assist technologies

In a comment, Julia Caslin, a spokesperson for Ontario’s Ministry of Transportation, stated that the province’s graduated licensing system “requires drivers to always demonstrate safe vehicle operation and full control, regardless of the vehicle’s features.” 

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“Applicants are expected to understand how their vehicle’s system — including lane centring, regenerative braking, adaptive cruise control and automated parking — may affect handling and performance during a road test,” Caslin stated. 

Driving instructors also expressed differing views about Simard’s experience. Saad Tariq of Greater Sudbury Driving School said he advises students against relying on driver-assist features because sensors can fail.

Meanwhile, Amanda Lacroix of Northern Lights Driving School suggested road tests should adapt to the technologies drivers use daily, while still requiring mastery of basic skills like mirror checks and manual braking.

“If the world’s going to change and we’re all going to have assisted driving, then we should be learning how to do it properly,” Lacroix said.

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Tesla says it is working on rides for the handicapped and disabled with Robotaxi

Tesla CEO Elon Musk confirmed that this was a focus by responding, “Absolutely,” to the embedded post on X above. Tesla said it is developing its own “wheelchair-accessible vehicle,” also known as a WAV. 

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Credit: Teslarati

Tesla says on its Robotaxi app that it is working on enabling “accessibility rides” that would give the handicapped and disabled the ability to hail a Robotaxi to get to an appointment.

While Robotaxi will obviously revolutionize the way we travel for our work commutes, daily activities, and other things, but there is true potential to enable serious change for those who cannot drive.

Autonomous transportation would make life easier for those who are unable to obtain a driver’s license. Of course, with today’s ride-sharing platforms, things are much easier than they once were.

However, rides from Uber and Lyft, while plentiful, always have an opportunity to be unavailable in some regions, especially rural ones, due to a lack of drivers.

Robotaxi aims to solve this problem through autonomous transportation, a technology that Tesla has been developing for years.

However, new language in the Robotaxi app shows that Tesla is working on a solution for people who need rides for medical reasons, and it uses a picture of the Robovan to hammer this point home:

Tesla CEO Elon Musk confirmed that this was a focus by responding, “Absolutely,” to the embedded post on X above. Tesla said it is developing its own “wheelchair-accessible vehicle,” also known as a WAV.

This is likely the Robovan, which was unveiled on October 10 at the Robotaxi event last year:

Tesla unveils the Robovan at ‘We, Robot’ event

It is pretty interesting to see two Musk ventures working on solutions for those who are physically impaired or have other disabilities. With Tesla, Robotaxi will unlock immense potential for those who are unable to drive themselves, addressing a genuine need in today’s world.

Additionally, Neuralink is continuing its development of technology to fight against various physical and mental disabilities. A great question to ask is, “Which will be more beneficial for humans?”

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