Hello and welcome to the Tuesday May 7th 2019 edition of Tesla Daily on

official Tesla Podcast.

My name is Rob Maower.

Today we are talking about a partnership between Weimo and Lift,

a new valuation for GM's autonomous driving division,

and some Tesla software updates.

Tesla stock on the day today did finish down 3.24% to $247.6 cents,

this compared to the Nasdak down 1.96%.

The overall market's continuing to drop due to concerns over trade talks with China.

As we discussed, those notes were issued at a 2% annual interest rate.

There was a thread on Reddit asking about that, so I just wanted to go ahead and

quickly debunk that on the podcast as well in case anyone else had come across it and

was also wondering the same question.

They carry a 2% annual interest rate, which Tesla is required to pay semi-annually, so twice

a year.

There's also an option for the convertible notes to be increased from 1.6 billion to 1.84 billion

within 30 days of issuance based on the demand for the notes.

I'm not sure exactly where we're at right now either at the 1.6 billion or the 1.84 billion

but that's immaterial to this specific conversation.

For the sake of running through the example, let's just say for now that it's 1.6 billion, 2% annually on that would be $32 million paid annually in interest fees for Tesla. That's the interest rate they're paying for this capital

up front now. So 16 million every six months, 32 million a year, over the five-year

term of the convertible note. That ends up amounting to 160 million in

...