Jack Schreve

[Anthony Scaramucci @Scaramucci]

A society works when the middle and lower middle class have rising incomes and feel aspirational about their lives.

Right now they feel desperational and Trump has provided zero policy solutions.

He's an avatar for their anger, but the answer they're reaching for is to wreck the entire system.

The system that produced the greatest economic miracle in the history of the world.

And you know who else wants that?

Vladimir Putin.

Our adversaries have one goal, make the British and American people believe their elections don't matter, their institutions aren't legitimate, the system is rigged against them.

Make them cynical. Make them feel left out. Make them burn it down.

Trump feeds that narrative every single day.

Because his entire political existence depends on people believing the system is broken beyond repair.

And our adversaries are watching it work.

[Occupy Democrats @OccupyDemocrats]

BREAKING: TMZ's Harvey Levin releases a viral and deeply moving defense of "amazing public servant" Dr. Fauci and calls the MAGA attacks on him "one of the most heartbreaking things" he’s ever witnessed in government.

This is truly a must-read...

"I have not used TMZ's YouTube channel to vent personal feelings about issues, but I'm going to do that today," Levin said. "Watching Anthony Fauci before a congressional hearing taking the Fifth Amendment is just one of the most heartbreaking things I have seen in government in my lifetime. And this is something we need to reckon with."

"I'm going to say up front, I have problems with the way the CDC handled COVID," he continued. "I think that they did damage to children, to adults, and I don't think they did it maliciously. I think they did it because they were using their judgment and were overprotective, and I think at times overstated things, things they said they knew but really didn't. And I have personal problems with the way that COVID was handled."

"That said, Anthony Fauci, over a period of decades, has been an amazing public servant. In the 80s, I had many friends who died of AIDS, a horrible, painful death. And I had friends who lived because of Anthony Fauci, because he was willing to look at experimental drugs in a different way than they had looked at them before, and that really resulted in lives saved."

"And he has done so many other things in his career to thwart epidemics, to save lives, not just in the United States, but all over the world."

"He has been a dedicated public servant who could have made a lot more money outside of government than inside, but he stayed."

"And now we are at a point where members of Congress, and yes, you, Rand Paul, are on a witch hunt. And the best I can say for Rand Paul is that he's being really honest. I mean, he has said now, over a period of years, he wants Anthony Fauci in a jail cell. He has said it out loud. He wants him in a jail cell. That's the point of this hearing. That's why they're doing this."

"They want to take something that Anthony Fauci says and then claim it amounts to perjury, and they want to prosecute him, they want to convict him, and they want to throw him in prison. That's the point of this hearing. There is no other point of this hearing."

"There could be. I mean, there are things they could certainly ask him, but he can't answer, because if he answers, it doesn't matter what he says. You know, if you can prosecute somebody for frickin' seashells on the beach shore, then you could certainly prosecute somebody for what they say in a congressional hearing."

"And that's the climate we're in. We are in a Senator Joseph McCarthy climate, where there is such fear that people have, and legitimate fear, that they'll end up in prison for what they say, no matter what it is, if they are on the wrong side of somebody in Congress or the administration, that they have been silenced. And that's where we are right now."

"We are in Senator Joseph McCarthy territory. And the idea that you have to watch this man take the Fifth Amendment, and again, I will say that I disagree personally with some of the CDC decisions. Absolutely, I did. That said, he's a public servant who worked for us and saved lives for decades. And we are turning him into what Rand Paul wants to be, a criminal. And Rand Paul has a political agenda, and it is prevailing here."

"Watching Rand Paul order security to throw Anthony Fauci's lawyer out of that hearing was unbelievable to me."

"We are in a dark period of America," he concluded.

More public figures need to speak out like this immediately. Republicans are scapegoating Fauci because they can't handle the truth that Donald Trump was directly responsible for COVID-19 getting as bad as it did. He downplayed it from the very start, undermined experts, and spread dangerous misinformation.

Meanwhile, Dr. Fauci did everything in his power to save as many lives as possible, urging Americans to wear masks, socially distance, and treat the coronavirus like the deadly threat it was. He's an American hero.

If anyone should be hauled in front of Congress to testify about their behavior during the pandemic, it's Trump.

Please ❤️ and share if you think the world needs to hear this message!

[Jack Schreve @jackbadgers]

@fussgangerfoto @CNBC First, NO ONE deserves that kind of wealth. Second, he is a bad human being, period! He gladly starves the poor to further enrich himself further. Why? Scumbag is probably the better word.

[Don Winslow @donwinslow]

I'm thrilled to see this video we made reach 16.3 million views.

[Jack Schreve @jackbadgers]

@nelly5star Was the above for Derby or Oaks? Thanks!

[George Noble @gnoble79]

Last night was the biggest disaster in the history of Tesla.

Let me walk you through what actually happened on that earnings call, because the headlines are doing you a disservice:

Elon Musk got on the call and admitted (his words) that Hardware 3 "simply does not have the capability to achieve unsupervised FSD."

He said he wished it were otherwise. He said the memory bandwidth is one-eighth of what Hardware 4 has. And that's the end of the conversation.

Approximately 4 million Tesla vehicles on the road right now have Hardware 3. Many of those owners paid $8,000 to $15,000 for Full Self-Driving capability based on Musk's repeated promises (going back to 2016) that the hardware was sufficient for full autonomy. As recently as 2022, Musk was publicly assuring owners that HW3 had the processing power to get it done.

BUT IT DIDN'T

Those promises are now officially broken.

The solution is a "discounted trade-in" toward a new car with Hardware 4.

Not a refund or a free upgrade...
A discount on buying ANOTHER Tesla.

Investor Ross Gerber said it too - all HW3 owners got screwed, and with roughly 285,000 FSD purchasers affected, the potential liability runs into the BILLIONS.

But that's not even the worst part.

Musk was asked if the current FSD v14.3 was ready for unsupervised deployment. He said yes. Then immediately walked it back and admitted Tesla has "major architectural improvements" in the pipeline that would significantly improve safety.

What he really means: the software isn't SAFE ENOUGH to deploy without a human watching. Full unsupervised FSD for consumer cars is pushed to Q4 2026. At the earliest... Maybe.

How many times has this deadline been pushed? I've lost count. And trust me, I've seen a lot of broken promises. But this one takes the cake.

Now let's talk about the numbers everyone is celebrating:

Tesla reported $22.4 billion in revenue and $0.41 in non-GAAP earnings. A "double beat." The stock popped 4% after hours. Victory, right?

WRONG

Dig into the actual filing:

The number one driver of operating income improvement wasn't cost reductions, wasn't volume growth, wasn't FSD revenue. It was - and Tesla listed this FIRST in their own shareholder letter - "one-time benefits related to warranty and tariffs."

They released warranty reserves. They booked tariff refund windfalls. They stretched supplier payments by 10 days. They took on billions in new debt. Then they presented everything through non-GAAP metrics that strip out over $1 billion in stock-based compensation.

GAAP net income was $477 million on $22.4 billion in revenue. That's a 2.1% net margin. On a $1.4 trillion market cap.

Let me put that in perspective:

3.75 billion shares outstanding. Annualize the Q1 GAAP profit and you get roughly $1.9 billion. That's a trailing P/E ratio north of 700. Use the adjusted number - strip out stock comp, which is a REAL cost to shareholders through dilution - and you're still at around 250x earnings.

All of this is extremely bad, but I didn't even talk about the CAPEX BOMB yet...

3 months ago, Tesla guided to "over $20 billion" in 2026 capital expenditure. Last night they raised it to over $25 billion. A $5 billion increase in a single quarter. That's 3x their historical annual capex run rate - $8.5 billion in 2025, $11.3 billion in 2024. The CFO confirmed on the call that Tesla expects NEGATIVE free cash flow for the rest of the year.

So you have a company generating roughly $6 billion in annual free cash flow on a good year, and they're about to spend $25 billion.

The math doesn't work.

They will almost certainly need to issue equity. Which means dilution. Which means the $1.9 billion in annual earnings gets spread across even MORE shares.

The core auto business is literally deteriorating in real time:

Tesla delivered 358,000 vehicles in Q1 (missed estimates again).

They produced 408,000. That's 50,000 cars sitting on lots that nobody bought.

Inventory days jumped from 10 to 27 in just a few quarters. California (their most important US market) saw registrations crash 24% year over year.

Their market share in the state fell from 9.2% to 7.7%. That's on top of a Q1 2025 that was ALREADY weak from Model Y retooling. They're declining off a decline.

And here's what really kills the bull case...

The entire valuation rests on robotaxis, Optimus robots, and autonomy. So let's put numbers on it:

Waymo - the actual leader in autonomous driving with 15 million completed rides in 2025 alone, over 127 million autonomous miles driven, operating commercially across 6 US cities with plans to expand to 20 more - just raised $16 billion at a $126 billion valuation.

That's the market's verdict on what the LEADING robotaxi company is worth. $126 billion.

And Waymo is YEARS ahead of Tesla in actual deployment.

Tesla has 3.75 billion shares outstanding. So even if you assign $126 billion in robotaxi value (giving Tesla full credit for matching Waymo despite being nowhere close) that's $33 a share. Add the auto business at generous auto-industry multiples, maybe $20 a share. Throw in energy storage and services, $10-15.

Sum of the parts gets you to roughly $65-70 a share if you're feeling generous. Maybe $50 if you're not.

The stock is $387.

So what exactly are you paying for?

You're paying for a STORY. You're paying for PROMISES that keep getting pushed back, technology that keeps falling short, and a business plan that requires spending $25 billion a year while the core product sells fewer units at declining margins in a market where California sales just fell 24% and the federal EV tax credit is gone.

I managed the number one mutual fund in America. I founded two billion-dollar hedge funds. I've been doing this since 1981.

And I am telling you:

Tesla at $387 is one of the most egregious mispricings I have seen in my entire career.

THE CRASH WILL BE EPIC

[Brian Krassenstein @krassenstein]

Trump told Marjorie Taylor Greene that if her son was killed it was her fault, after she called him following death threats to her family following his statements that she was a traitor:

"He said if my son were to get killed, it would be my fault."

[Cory Booker @CoryBooker]

Donald Trump continues to exhibit such weakness and is failing as commander and chief.

Thanks for sharing your perspective @JasonKander

[MAGA Cult Slayer @MAGACult2]

“If you can read that post and not be disgusted, you are either dishonest, a psychopath, or severely brainwashed.”

[Aviator Anil Chopra @Chopsyturvey]

Requirements from Iran

[Gandalv @Microinteracti1]

🚨🚨The Son-in-Law Intelligence Briefing

Donald Trump has revealed that his primary source on Iranian intentions was Jared Kushner. Not the CIA. Not the NSA. Not the Director of National Intelligence. His son-in-law.

“Based on what Jared told me, I thought Iran would attack us,” Trump said.

Normal presidents have national security councils, intelligence briefings, career analysts who spend their lives tracking adversary capabilities. Trump has family.

This is how a nuclear-armed superpower decided to go to war. The world economy now runs on Kushner’s gut feeling.

Gandalv / @Microinteracti1

[Jack Schreve @jackbadgers]

@TommyGuns185 @krassenstein I suspect you flunked Math in grade school!

[Robert Reich @RBReich]

Billions of your tax dollars are going to Palantir — and the police state it's helping Trump build could soon be used against you.

[Nas @Nas_tech_AI]

See what happens when you eat egg

[Sen. Bernie Sanders @SenSanders]

Minneapolis, Stephen Miller, authoritarianism and a nation in decline. https://t.co/DK4mzdAwyY

[Brian Allen @allenanalysis]

🚨🇺🇸 BREAKING: Protesters in Los Angeles just projected an anti-ICE video onto a building.

And it wasn’t just any building.

It was Twin Towers, an ICE-linked detention facility where LASD actively collaborates with ICE for deportation screening.

This is what resistance looks like when people stop pretending everything is normal.

[Ted Lieu @tedlieu]

Trump and Vance have already lost. They thought Americans would embrace their policy of sending masked ICE agents to terrorize communities across the US.

Exactly the opposite happened.

Americans are standing up and saying NO. ICE is now at 63% disapproval and only 36% approval.

[Jack Schreve @jackbadgers]

@g_imyourladybug @MAGAVoice @occhuckaranch No you didn’t. You had no idea what Trump would do because Masked Thugs were NEVER discussed, but you will pretend you did because fools like you will kiss Trump’s ass forever, no matter how dirty.

[Jack Schreve @jackbadgers]

@bellausa17 @MAGAVoice Let’s not pretend these three groups are equal. Police are mostly hired locally and for the most part are highly trained professionals. The National Guard are state based, ex-military, your friends and neighbors. ICE are masked thugs for hire, training to be Trumps personal army