Pent Up Demand, Tesla Party Permit Getting Punked, Meta Execs Far From Home

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Today we talk about the potential effects of all the pent up demand that may be building and what that may mean for the next year or so. We also talk about a community pushing back against a Tesla grand opening party. We’ll also take a look at the extreme remote work happening among Meta Execs.

• As some buyers stay on the sidelines, pent up demand continues to grow according to Thomas King, J.D. Power’s president-data & analytics and chief product officer
  • King forecasts heightened buying levels will consume inventory once it is more readily available, keeping demand strong
  • Above MSRP sales were 65% in this year’s Q1 vs. about 15% at the same time last year, says King
  • average vehicle transaction price reached $44,400 this year compared with $34,300 in 2020
  • End of month carmaker tactics that reduced margin to increase sales dropped from 17% to 8%
  • Trade values average $9,380 compared with $4,246 three years ago
  • Lease turn ins this year are half what they were last year.  1M down to about 500k
• Tesla’s 15k person Grand Opening party for its Texas plant is hitting resistance obtaining a permit from Travis County
  • The argument is that Tesla is treating the community like a workforce and not a community and says this party will not do anything to build community

• Meta Executives are taking remote work to another level as top executives ditch the Menlo Park campus for exotic and remote locations such as Hawaii, Israel, U.K., and more
  • “Naomi Gleit, the company’s head of product and one of its longest-tenured employees, has relocated to New York. Chief Marketing Officer Alex Schultz plans to move to the U.K., and Guy Rosen, the company’s vice president of integrity, will be moving to Israel in the near future, according to a company spokesman.”
  • Javier Olivan, Meta’s chief growth officer, has split his time between California and Europe but is planning to spend more time abroad, the spokesman said. 
  • Adam Mosseri, the head of Instagram, in recent months has been traveling and working remotely from locations including Hawaii, Los Angeles and Cape Cod, according to people familiar with the matter and the executive’s social-media posts.
  • Zuck is planning on splitting his time about 50/50 away from his California residence

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