Pierre Ferragu of New Street Research joins Rob Maurer on Tesla Daily to discuss Tesla’s return on investment, operating leverage, competitive positioning, delivery outlook, supply chains, cryptocurrency, and more.

0:00 Introduction
0:59 Understanding Tesla’s profitability
5:07 The right to make money
7:54 New Street’s TSLA note – cash return
16:34 Operating margin outlook
21:00 Tesla vs. TSMC
27:11 Tesla vs. BMW / Daimler
29:41 Tesla’s structural advantages
36:27 Does this increase Pierre’s bullishness?
38:34 Accelerating growth
43:43 Pierre’s new Model Y
45:21 Reaction to Tesla/Musk’s involvement in cryptocurrency
52:09 What concerns are you hearing?
53:01 2021 delivery expectations

You can find Pierre on Twitter @p_ferragu
New Street Research: https://www.newstreetresearch.com

Twitter: https://www.twitter.com/teslapodcast
Patreon: https://www.patreon.com/tesladailypodcast
Tesla Referral: https://ts.la/robert47283

Plaid producer Who Why
Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jeff Sheets
Executive producer Jessie Chimney
Music by Evan Schaeffer

Disclosure: Rob Maurer is long TSLA stock & derivatives