20 Million EVs by 2020, What is what3words, YouTube’s Take on the new “Fast Forward”

August 30, 2022
Tuesday offers us a vague and precise picture of our future as we cover some highly audacious EV goals from Elon, a new way to do navigation (you’re gonna love it), as well as some stats on how fast people are watching your YouTube videos.
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Elon Musk tweets that Tesla could “probably” make 20 million EVs per year by the year 2030 in a Monday morning tweet.

  • Analysis by Reuters shows that would make Tesla twice the size of any automaker in history, accounting for roughly 20% of the global vehicle market and would be a 13-fold increase over the estimated 1.5 million vehicles it hopes to sell this year
  • Tesla would need to build seven or eight more "gigafactories" - an average of one every 12 months or so - take share from every competitor and emerge as a company the size of Volkswagen and Toyota Motor Corp combined
  • They would need to increase battery capacity by 30x
  • Raw material capacity to support the planned production in 2030 does not exist today, experts say
  • Take away: Definitely a fence-swinger

What3words is poised to change navigation, retail, and safety with its simple way to communicate navigation coordinates

  • Touted as the only navigation system designed for voice, w3w divides map into 3 meter squares and gives each a unique combination of 3 words
  • Use categories listed include Automotive, Logistics, ride hailing, ecomm, infrastructure, uav and more
  • Breaks language barriers as it can deliver a 3 word address in 35 languages regardless of location
  • Adoption by Ford, Land Rover, Mercedes-Benz, Subaru, Tata, and Vinfast
  • Take away: ///drips.knee.vision is the location of the mainstage at ASOTU.CON btw

YouTube says a rising number of users are increasing playback speeds

  • More people are using the playback speed feature on YT  and the company reports that it is saving over 900 years of video playback time per day
  • “YouTube currently supports watching at 0.25x, 0.5x, 0.75x, Normal (the default), 1.25x, 1.5x, 1.75x, and 2x. As you can imagine, most people watch on the default speed, but we found that when people use this feature, the vast majority of the time they choose to watch a little bit faster - in fact, this feature was used to speed up content more than 85% of the time.”
  • 1.5x is the most common speed used followed by 2x and then 1.25x
  • Most common custom speed is 1.1x
  • Starting at 6am, playback speeds weren’t used as often, engagement w speed rises near midday, slight dip dinnertime, between 7pm and 8pm, spikes between 9pm and 1am in their respective time zones
  • Take away: Make good content and speed won't matter

SPEAKERS

Kyle Mountsier, Paul, Paul Daly


Paul Daly  00:00

Oh yo, it is Tuesday, and we're ready to go. We have today we're talking about 20 million EVs by 2030. What in the world is what three words, and YouTube's take on the brand new and improved, fast forward button. The people really want to know who to say it's got to feel to it already has got to feel. And the three stories today are three that I'm strangely excited about. I don't know, maybe it's this one. I was excited about it. First story is as impractical as it gets. And then the next two stories are insanely practical. This may be the most practical episode we've ever had, I would actually go on a limb to say that I think the content in this, Today's episode will be content that you actually use physically for the next 10 years of your life. Well, I'll get him.


Kyle Mountsier  01:17

There's nothing at this point that I feel like is going to be used for 10 years of my life. I think so often, I


Paul Daly  01:23

think I think these two things will I think if you're gonna go with one of stories,


Kyle Mountsier  01:27

I'll go with the second story. Maybe.


Paul Daly  01:31

Oh, I was so I would have picked the third story not.


Kyle Mountsier  01:34

Okay. All right. Well, we'll get into it. We got to get into it. Couple things, housekeeping notes as we go. Like we were at one point both of us were youth pastors. So sorry for the housekeeping notes. Right. Okay, so look, we got a couple more episodes of auto collabs streaming today at noon. And three. We've got a lot of shop type auto leads started Jeff Gonzalez of at automotive, you will want to check those out. You can get them on Facebook, Twitter, LinkedIn, YouTube, you can find them searching auto collabs. Anywhere where you find your podcasts,


Paul Daly  02:10

all of us do it on the good old internet, just on browser net.


Kyle Mountsier  02:14

Yeah, you can pull it up in a browser, so you can pull it up on their phone. I feel like Dr. Seuss at this.


Paul Daly  02:18

Yeah. Not too many. Thanks. Right with browser. It's the problem. I was


Kyle Mountsier  02:23

like, I don't know. It wouldn't have worked. It wouldn't work. Yeah, so excited about those. Those have been extremely great conversations. I've learned a ton from them been encouraged by them. We've got like, I don't know. 38. More already recorded. That's an over exaggeration. But it's close. Close enough close. Hey, I do want to I haven't even talked to you about this. But I had to lay this out. Because after you recorded a video yesterday about the Carvana stuff. And yeah, there was a lot of activity on LinkedIn and other social proof. I mean, just some opinions about the way Carvana prices, how they trade on value, all of this type of stuff. But I got one in particular that I want to point out was actually I reposted the story on my Instagram got a message from a buddy of mine. He's like, man, literally, my whole office last week was discussing this discussing the pricing at Carvana. And whether or not if Carvana had higher prices, would we pay more to not go to the dealership and the overwhelming? Oh, it's coming? resounding yes. I agree with it. That had happened was unbelievable. And and To which I responded. So the answer is yes. Yes. His his answer was absolutely everything. And granted, a lot of these people are like 27 to 35 are in his office. That's kind of like


Paul Daly  03:49

it's a pretty large buying demographic last unbelievable, right? Hi, I


Kyle Mountsier  03:54

like Millennials new buying demographic. High money. Right? Well, so To which I responded is it's unfortunate, because it seems like 90 to 95% of the salespeople that I met meet are not this sleazy, kind of like overtaken you know, sales pressure stereotypical Yeah, typical. To which he responds. That's funny. That seems like an over exaggeration. Because I was shopping for a car last year. And after three experiences at dealerships with middle aged men who felt like they were trying to push something on me I didn't want I just got out of the car market.


04:39

Whoa, to which I left market,


Kyle Mountsier  04:43

right. So I know that's an individual representation. But these are we as an industry just have to realize that these are the stories that are still being perpetuated in our industry today. And though there are so many incredible dealers, like I would say that I'll large swaths of the dealer network, you would never experience that there may be individuals at stores or enough individuals or dealerships across the country that are crafting these types of experiences, that the other dealerships have to overcome that narrative. More,


Paul Daly  05:17

what's a real number? Good, great, we can release on this morning story that just turned into like,


Kyle Mountsier  05:24

I texted, just just so you know, and I don't know if we can get him on the show this week. But we'll try to I texted Jamie ottershaw He's, he's the he started DealerRater. And what I know about about DealerRater is they have a lot of data surrounding, just like the percentages of dealerships that have positive or negative incent intent. You know, how many, how many reviews overall? So I'm just I'm trying to figure out like, what is the total scope of the dealer experience that people are dealing with in the service and sales perspective, and I want to find that out. So we're gonna do that dig in, because I'm now I'm even more concerned, right? I'm not even I'm very


Paul  06:02

concerned. And I also know that we as a soda in this asoto community, that's the right comment book that you just made, right? It takes all of us, I'm really concerned that we need to refine our messaging as asoto to literally alienate the ones that aren't willing to do it in a way that can change the perception, right, we can't put our arms around people that aren't willing to do that, because they're the ones that were we want to convert as many as possible, but we can't do it, I was I was texting back and forth with a friend who works for, we'll just say, a dealership group that has a lot of data. And they did a major market analysis and found that Carvanha sells at 103%. Market value, on average, when the average dealer sells at 97%. So the swing is really 6%. Customers, those customers are willing to pay more. It's a lot they don't understand. But I understand. All right, let's


Paul Daly  06:54

talk about stories today, let's go. But by the way, we're gonna be getting into this deep episode of Con, I mean, this is the top this is why we don't plan content too far in advance that everybody's gonna be like, so we were going to talk about like a ball it up, throw it in the audience and be like, this, really, let's fix this. So it's sort of kinda if you don't have your tickets, I know of a lot of dealers who are waiting to the last minute to buy their tickets. Don't wait to the last minute, do us a favor, just buy the tickets now, so that we can make sure our food and our beverage and our seats and all that are right, just if you care about us, and I'll just get your tickets now if you're gonna get those out of SOTU comm.com. We'll see your affiliate a couple of weeks right now that we've been through half of the show on that, which I would argue is very important, not as important as this next story. But yet Speaking of next stories, segue she sometimes you just need a cheap segue. Elon Musk tweeted yesterday, that Tesla could probably make 20 million EVs a year by the year 2030. So there have been a lot of predictions for 2030. But I have to say, this one, I mean, look, he's got a flair for the dramatic. And if it's like, oh, you're gonna predict that by 2030? Well, let me give you this one. So analysis by Reuters shows that that would make Tesla twice the size of any automaker in history accounted for roughly 20% of the global vehicle market, and would be a 13 fold increase from the estimated 1.5 million vehicles and hopes to sell this year, they would need to build seven or eight more Giga factories and average opening an average of one every 12 months to take share from every competitor and emerge as a company. That's the size of Volkswagen, global Volkswagen and Toyota globally. combined. Oh, by the way, they need to, they need to increase battery production by 30 times. And experts say that the raw material capacity to support that plan production does not currently exist today.


08:47

That's the swinging for the fence moment.


Kyle Mountsier  08:49

Here's unbelievable.


08:54

Yeah, no, I, you know,


Kyle Mountsier  08:55

I think, obviously, bold claims always coming out of Elon. But I will say this, when it comes to anything that's not Tesla, we see these bold claims, kind of like, go by the wayside and move away. We're talking Twitter, all of those type of things, we discount them. But when he makes bold claims about what Tesla can or cannot do, like, this is what it takes for a visionary like, you know, well, I wouldn't put to build seven or eight more Giga factories, I would not put that Powell nominee and a personality like him. So I was like, as


Paul  09:31

I mean, it's tough to to watch the NASA Launch yesterday, and then launch all the other rocket launches from SpaceX and even from like other companies, private companies, or and not think that if someone's going to make good on a claim, it's going to be the one that launched all the rockets. And that made it work without the 10 years and all the public funding and all that so I don't know he's a fence swinger. You got to respect him for that. But, you know,


Paul Daly  09:58

I think it opens our mind to like, well, what It actually is possible and claims like that actually gets to look a little deeper. One of the things I learned through looking into the story is that the majority of the lithium supply that they've secured is actually in Australia. Like biologic way more than China like think, Oh, he's he's, you know, trying I mean, he's got a lot going on in China. But there are a lot more lithium deposits that he's he's


Kyle Mountsier  10:20

drawing is one of the vacation in Sydney, everyone's have to ask our,


10:23

our buddy, our buddy


Paul Daly  10:26

Johnson about this, he probably knows. All right, this next story is really something okay. This is the one that Kyle thinks we'll be using for the next two years. So 10


Kyle Mountsier  10:37

years, this is so practical. So essentially, there is a new navigation perspective, a company called


Paul Daly  10:44

one of the cars. Is it a company? I couldn't even find out? Is it a company? Is it a protocol?


Kyle Mountsier  10:49

Protocol is good, I like protocol. But what three words is changing the way we look at navigation, retell and even safety. So touted as the only navigation system designed for voice what three words divides map into three main maps and the three meter squares, not feet, or yards, three meter squares, and gives each a unique combination of three words. Now I loved actually in the in the Arctic, or in what three words, if you dig a little deeper? It's funny, because you're like, Why three words? Why would you use three words? Well, in order to cover the entire globe, including water, they had to use? All three? Gosh, in three meter, they needed 5.7, I think billion combination combinations? Well, if they would have gone with two words, and they needed to be in 35 languages that were easily translatable, they would have only been able to cover 4.2 or something, you know?


Paul Daly  11:48

Yeah, it's, it's better because the human brain is wired to remember three things in threes. Even in the design aesthetic, if you have two like little pots with plants in it, if you add a third one, you're gonna be like, that feels a lot better. For some reason. It's three. So words marketing three things. They didn't think of that. But that's just the reality. So


Kyle Mountsier  12:06

essentially, the three word combinations were up to 6.4 billion combinations. And so they were able to cover the entire globe. And really, if you go look at it, and you go to the navigation, it is so simple. Like, you can just literally click every three meter by three meter square, and find out exactly where you can be. So for me, The uses are endless thinking about, Oh, I'm in this place, right? And you don't have to go find Geo coordinates, if you're not near an address. Meet me here. Meet me here. I mean, the safe drop off my package here, right drop off my package, but even like the safety, like if you are, if you're out, you know, on a hike, and you need to tell someone where to come find you. Or there's a car accident ordinance needing all of that type of stuff, boom, you're you've got the exact coordinate of where you need to be.


Paul Daly  12:55

Again, just think of three words like like stand bottle hotdog, right? Those three words are assigned to some three meter square on the globe. And if you speak those into a modern navigation system, so vinfast The Vietnamese upstart has adopted this also a lot of adopters. If you look on the site, Ford Land Rover, Mercedes Benz Subaru Tata, a lot of logistics companies, Amazon, right, these places where you need to get or identify a three meter area is pretty amazing. So if you go to what three words write these down, drips dri p s drips, ni kan e envision drips, mi vision, you will be pretty much standing on the main stage at a soda con. How cool is that? How cool is that?


Kyle Mountsier  13:38

I love it drifts was also one like right next to it. Maybe that's where I'll be standing. That was like ended in sorry. I was like, man.


Paul Daly  13:48

Yeah, but how cool is that? You can just tell people where things are gonna go. Maybe we'll develop something I haven't looked into too far. Maybe there's an app, maybe there's something we can use. Have some fun with it at a socon a soda calm. We'll figure that out.


Kyle Mountsier  14:00

We think we should do an NF T drop at what three words located?


Paul Daly  14:04

That's a great idea. That's a great idea. Okay,


Kyle Mountsier  14:07

we'll find a really mark one


Paul Daly  14:09

to do then. Yes, we will. But that's two weeks from now speaking of fast forwarding to two weeks from now, segue Fast forward Fast forwarding. So everybody knows that the little speed adjustment button on YouTube or on podcasts are actually on a growing number of platforms. Now you can do it on Dropbox. You can do it on Slack. Thank you. You can do it on Slack. While YouTube says in rising number of users are increasing playback speeds more people are using playback speed feature and YouTube and the company just reported that it is saving get this 900 years of people's time per day. It saves 900 years a day.


Kyle Mountsier  14:51

Compute to me. People are


Paul Daly  14:53

spending that much time on YouTube what are people doing? It currently supports right you can actually I didn't realize is you can support slow it down 2.25 Speed point 575 normal speed, and then you can speed it up 1.25 1.5 1.752x. And they found when people use this that what's the stat? More than 85% of the time, people use the feature to speed up content versus slow down content. I don't know why maybe if you're learning like guitar solos and slow it down, that's actually a really good way to learn guitar solos.


Kyle Mountsier  15:29

You know what, that is a great way to learn guitar solos. Actually, I was thinking about this. Because when we talk about the type of content or volume of content that you're putting out on YouTube, or on ads, or anything like that, what, what if there's a way to like, increase? Because people are using this so often, and they're attenuated to potentially playing things at certain speeds? What if you intentionally created content that required the use of this tool? So


Paul Daly  16:01

article, the article actually talks about this a little bit? Now, when it does the whole article? It was it was which, which one is I can't remember, I think it's social media today. What was the article from? You can click on it. Today, there? There we go. They have some thoughts on it. But But what are your thoughts? Well, I'm


Kyle Mountsier  16:17

thinking like, what if you created content that was intentionally really fast, and someone needed to slow it down or intentionally very slow? And that and that way, when they did speed it up to two acts? That was the that was the regular speed of your content? There's some nerdery in there. I think that could work. It could be a lot of fun, right? I think you know, what I like some some, like, speed or understanding. Yeah, the way people consume content to kind of create a little disruption in the way that they might be expecting that content to come across,


Paul Daly  16:52

you know, it is going to be a lot different is like, say you're wanting more users or watching things on 1.5 and 2x. Speed. And by the way, they said as the day goes on, the speeds increase. So early in the morning, people aren't using it as much by noon, it starts to pick up up by like, eight, nine o'clock. Everyone's like, we just gotta get this done that day. Yeah. But But think about this, you're watching content on a regular basis, more users are watching content and 1.5 or 175, or 2x, right? And it's moving your brain just start to get wired processing that fast. And then an ad hits, right, and then the ad you can't get up and the ad. So is that good. Because it actually breaks you out of the trance and helps you, you know, pay attention to the ad, or does it actually make you bored? Faster? real question. Are you less likely, like magic record? In 1.5, that might actually get better play? Yes, exact because even though it's only 10 seconds of ad, you figured you'd actually just fix you factored in 15 seconds of message.


Kyle Mountsier  17:53

Yes. So record a 15 second spot speeded up to one and a half times put it in the put it in the YouTube thing. And all of a sudden, someone might actually feel like their continuing content. Genius.


Paul Daly  18:04

genius. Genius. So I don't know which you know what, what you think you're going to use more, whether it's the what three words, or the YouTube playback speed, I think they're going to kind of go neck and neck but whatever it is, go try them out and go to the website. This should broaden your horizons a little bit get you thinking and some creative ways to go stop that stigma thing.