Back when the Model 3 was unveiled, Tesla immediately attracted a good amount of criticism over the vehicle’s design. Arguments against the all-electric sedan were many, with arguments being presented against its utilization of a single 15” center display and its hyper-minimalistic interior. The vehicle’s glovebox, which could only be opened through the touchscreen, also attracted its own fair share of eyebrows.
‘Crazy’ and ‘Impractical’ Ideas
To a good number of car enthusiasts, the idea of a glovebox that can’t even be opened manually was insane. Practically all vehicles in the market, from affordable econoboxes from Japan to luxury cars from Germany employ a manual latch for the glovebox, after all. It was something that was so simple, so traditional, and here Tesla was stubbornly refusing to follow along.
It would be pretty easy to put a manual latch on the glovebox, so Tesla’s insistence on an electronically-operated mechanism seemed almost like hubris on the EV maker’s part. Tesla did roll out changes to the Model 3’s glovebox, such as a feature that automatically opens the storage area in the event of a crash. This was rolled out following an incident where a Model 3 was involved in an accident that shattered the 15” display, giving the driver a very difficult time accessing the vehicle’s title and insurance papers.
Over the years, Tesla has added numerous features to the Model 3. These include Sentry Mode, which actively monitors a vehicle’s surroundings, and TeslaCam, which acts as a built-in dashcam for the all-electric sedan on the road. The videos were saved on a flash drive that drivers would need to insert into the front USB port of the Model 3. The feature is incredibly useful, though it requires some work on the part of Tesla’s customers. This was perhaps the reason why the use of features like Sentry Mode and TeslCam are not universally used by drivers. This may change soon with the introduction of the 2021 Model 3.
Pieces of a Puzzle
For the Model 3 “refresh,” Tesla introduced a number of key updates, from a new center console and new Aero Wheels to new headlights. Minor updates were also introduced, such as a USB port inside the glovebox. A video from Hong Kong featuring a 2021 Model 3 further revealed that the USB port inside the glovebox already has a 64 GB flash disk in it. This incredibly minor change, which almost feels like an afterthought considering the Model 3’s major updates, makes features like Sentry Mode and TeslaCam much easier to use.
This makes the Model 3 more secure as well, as even thieves that are familiar with Teslas will no longer have any way to access the flash drive that contains the vehicle’s video recordings. Prior to the “refresh,” thieves could simply rip out the flash drive that holds Sentry Mode’s recordings, which is quite unlikely but still plausible. This will no longer be true with the 2021 Model 3, especially as Tesla has already added an extra layer of security in the form of “Glovebox PIN,” which was previously released through an over-the-air software update.
What is quite remarkable is that these improvements would not work as well as they do now if Tesla had included a manual latch for the Model 3’s glovebox. It was difficult to see the point behind Tesla’s stubborn refusal to include something as simple as a physical glovebox latch during the vehicle’s initial launch and release, but it appears that the feature, or lack thereof, was something that would be useful years into the vehicle’s release.
The Long Game
This is something that has become much of a theme in the Tesla story. The company or its CEO does something, and critics pounce on the opportunity to squeeze in a few shots. Products are rolled out and improved through over-the-air updates, and before the dust settles, Tesla and Elon Musk’s once-controversial strategies end up making sense. This was the case with the Model 3’s glovebox, and it would likely be true for other controversial aspects of Tesla’s vehicles as well, such as the Cybertruck’s design and novel features.
Ultimately, this tendency could very well be explained by the fact that Tesla simply looks farther ahead than any of its critics. Tesla skeptics may focus on what the company is doing now, or the state of its products today, but Elon Musk and his team are always looking into the future. This may very well be the reason why even Wall Street analysts seem to have a difficulty understanding Tesla’s business. Just recently, for example, Morgan Stanley upgraded TSLA stock to an “Overweight” rating. According to the financial firm, this is due to Tesla’s business expanding from carmaking to other segments such as software. This is something that longtime TSLA bulls have been highlighting for years.
What is rather interesting is that Tesla may continue to confound skeptics for years to come. Just like the Model 3’s glovebox, the company is still rolling out strategies and products that don’t make sense for skeptics, such as the FSD beta and features like Smart Summon. A look at Autopilot’s subpar scores in tests from organizations such as Consumer Reports highlight this point. Yet just like the humble Model 3 glovebox, perhaps features like Summon could serve a higher purpose years down the road.
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Tennessee.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
SpaceX makes $20 billion move to optimize its balance sheet
