Toyota president said that: Tesla has ‘not created a real business in the real world yet’. On Friday, during an earnings call with investors, Toyota CEO, Mr. Toyoda acknowledged Tesla’s success, but said its valuation and market cap do not reflect a “real world” business, or compare to Toyota’s high-volume manufacturing and sales.
This is what he said:
“I am hesitant to say this — Tesla’s business, if you want to use the analogy, is like that of a kitchen and a chef... They have not created a real business in the real world yet. They are trying to trade recipes. The chef is saying ‘Our recipe is going to become the standard of the world in the future!’ At Toyota, we have a real kitchen and a real chef too, and are creating the dishes already. There are customers, who are very picky about what they like to eat, sitting in front of us, and eating our dishes already.”
This is my response.
👏👏👏 Big shout out to our growing list of Patreons: Mark Dixon, Daniel Johnson, Stephen Barnes, Sheri Morgan, SC, Survive R, Joel Peterson, Daniel, Rob Goddard, Andrew Wilson, Danny Goff, Chris Houston, Dayyan, Daniel Gordon, Ravi, Francis, Physics Helper, Mathias Eklof, Matthew Agostinho, Error Comb, Dan Marshall, Carl Seghers, Benjamin Allen, Jan Hakkebo, Stanislav Brand, Hanno Offen, AJ Klein, Joe Smith, Paul Wernke, Mitchell Rowton, David Peet, Walter Jackson, Mikhail Korob, Todd Stone, Jon Su, Peter Dong, Jonathan Endersby, Whitlock, Andrew Pergiel, Muk Usmanov, Rogelio Figueroa, Duane Browning, Brad Houghton, C. Nile, Jeff Chandley, Joseph Fratric, Eduardo Neto, Johnny Huang, Carl Cochrane, Christian Bergman, Pit Hostettler, Christopher Moulton, Mgtow96, Santhosh, Kenneth Moore, Darin Mainquist, Jordan Hitch, Victor Vazquez, Favio Rodriguez, Steven Brown, Jose Montilla, Bradley Welch, Ian M Sharp, Jarrett Siler, Jordan Prince, Michael Shtarkman, Christine Hoffmann, Dominic Fagundes, Sarisari Biz, JD, Chris, Ari Shrager, Erik Forbes Johnson, Christopher Walton, Chen Chen, Homero Lara, Samuel Fernandez, Erik Forbes Johnson, Sun Wu, Justin Stephan, Ethan Chua, Sasha M, Who Why, Xavier Castro, Ali Sabet, End. Z Fed, Joors, Soroosh Armandi, Rogelio and Shawn Shahin for making this video possible!
This is what he said:
“I am hesitant to say this — Tesla’s business, if you want to use the analogy, is like that of a kitchen and a chef... They have not created a real business in the real world yet. They are trying to trade recipes. The chef is saying ‘Our recipe is going to become the standard of the world in the future!’ At Toyota, we have a real kitchen and a real chef too, and are creating the dishes already. There are customers, who are very picky about what they like to eat, sitting in front of us, and eating our dishes already.”
This is my response.
👏👏👏 Big shout out to our growing list of Patreons: Mark Dixon, Daniel Johnson, Stephen Barnes, Sheri Morgan, SC, Survive R, Joel Peterson, Daniel, Rob Goddard, Andrew Wilson, Danny Goff, Chris Houston, Dayyan, Daniel Gordon, Ravi, Francis, Physics Helper, Mathias Eklof, Matthew Agostinho, Error Comb, Dan Marshall, Carl Seghers, Benjamin Allen, Jan Hakkebo, Stanislav Brand, Hanno Offen, AJ Klein, Joe Smith, Paul Wernke, Mitchell Rowton, David Peet, Walter Jackson, Mikhail Korob, Todd Stone, Jon Su, Peter Dong, Jonathan Endersby, Whitlock, Andrew Pergiel, Muk Usmanov, Rogelio Figueroa, Duane Browning, Brad Houghton, C. Nile, Jeff Chandley, Joseph Fratric, Eduardo Neto, Johnny Huang, Carl Cochrane, Christian Bergman, Pit Hostettler, Christopher Moulton, Mgtow96, Santhosh, Kenneth Moore, Darin Mainquist, Jordan Hitch, Victor Vazquez, Favio Rodriguez, Steven Brown, Jose Montilla, Bradley Welch, Ian M Sharp, Jarrett Siler, Jordan Prince, Michael Shtarkman, Christine Hoffmann, Dominic Fagundes, Sarisari Biz, JD, Chris, Ari Shrager, Erik Forbes Johnson, Christopher Walton, Chen Chen, Homero Lara, Samuel Fernandez, Erik Forbes Johnson, Sun Wu, Justin Stephan, Ethan Chua, Sasha M, Who Why, Xavier Castro, Ali Sabet, End. Z Fed, Joors, Soroosh Armandi, Rogelio and Shawn Shahin for making this video possible!
The EV world will eliminate the ICE from the transportation market. I but I think there could be a mutual coexistence, if and only if the Dealership model is abolished. The statement that Toyota has the Chefs and the Kitchen is misleading, Tesla has the whole staff, including waiters and the delivery. The dealership model does not allow any ICE manufacturer to have that arraignment that Tesla has and that's exactly why ICE manufacturers will LOSE.
Keep drinking the Koolaid boys….. meanwhile in the real world, CR just ranked Tesla 25th out of 25 ranked brands.
A two trillion dollar market cap?
At some point, reality has to creep into the equation.
Toyota's chief is out to lunch, and no one knows when he'll be back.
Believe it or not, Akio Toyoda is actually totally the grandson of the founder of Toyota. A family controlled business..
Which doesn't detract at all from the fact that his comments show "complacency and arrogance". It reminds me almost exactly of the attitude Nokia had when the iPhone came out.
They will eventually panic and try to catch up and probably survive, caught by the incredible engineers and work ethic of their staff. But those guys will be the ones who hurt, while Toyoda, for all his arrogance and failure to see the changing market will never lose enough money to really feel the repercussions. He'll never flip a burger unfortunately.
Not sure England suck at football… we are too 5 in the world?
Tesla's awesome. Toyota can't stop making engines that dump oil all over the place. Yup.
Toyota 2020 sales 7.5 million. 2019 sales 10 million. So insulting another company divert attention away from your own failure? Interesting!
How toyoda paid their carbon tax?
Toyoda he smart enough to see Tsla is not car company’s
I don’t think they create anything profound, I think it is no more than a gadget like an Apple Watch.
Toyota put the cart before the horse now they can’t move forward
Its is easy to feel like a king in an echo chamber…in my opinion blah blah blah
It's nit tiota it's toyota
Toyoda is the real name of Toyota. The ta is a mistranslation. He is the great grandson or something like that of the original founder.
you looking good😀
Toyota Tesla? Lol
I used to love Toyota – then they started advertising “self charging hybrids”…
True, England sucks in soccer (football)
😂🤣😂. First of all I work for Toyota. We are building like crazy. We have hours that we haven’t had in like 10 years. Hybrids are back ordered by months. Try buying a hybrid and see how long it takes for you to get one. We can’t build fast enough.
As for electric vehicles you have no clue what they have. Trust me once the demand is there where it makes sense for Toyota to build them they will have it. Do you really think they don’t have any EV vehicles already?
Making clueless videos thinking you know something 🤣
Tesla should do gigafactory in Japan for left hand drive vehicles and ship from there to other left hand drive countries. Of course probably cheaper to do same thing in India!
He is 100% right you know!
It’s all bout supply and demand Toyota can make an electric car but the masses aren’t buying
Theres actually over 1.1 million teslas on the road but ya lol
Toyota is HUGE, but this is a little too bold lol. I feel this is coming more from a envy and they are getting a bit scared of Tesla, this will happen to much others big brands that happily have polutes the world, they will go the way of the dinasours faster than they think. We are in 2020 and everyone is scrambeling to get greener and greener.
I hope Toyota's restaurant serves humble pie, they will eat plenty of It soon.
I love the brand Tesla but in my opinion not everyone does. Range rover has some bad ass looking EV cars and there is brand loyalty to other brands that people is waiting to buy their EV cars. Because Tesla stock exploded cause all the shorts covering their losses and people investing because of Fomo. It doesn't mean everyone is looking forward to buy a tesla.
Hey Tom I think your channel is highly underaded ! You structure the information flow very well and I think your point of vieuw on the business topicks you discuss is what a lot of business schools mis. We often only learn from the books and than we focus a lot "on the front" of the business but not how things aply in the real world. You taking us through the real world senarios and showing us how to find out indepth information. Fk love your work man!
FED heros trying to be pro investors….dont even compare toyota to bullshit Tesla…
What’s with the editing? I see repetition/pause mistakes in every video I watch. I love the info, but I’m just pointing out that you should watch the video before posting
Great video! Must watch til the end! Sick burn!