NADA’s Manifesto, EV Round Up, World’s Top YouTuber

November 10, 2022
It’s Thursday and we’re talking about NADA’s Guiding Principles which were just released. We also give a round up of current EV news, as well as the likely new king of YouTube.
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NADA has released its “NADA Guiding Principles on Evolving Business Models and the Dealer Franchise System” which reads like a clear manifesto of what it is for and against

EV News

  • Tesla starts hiring for Cybertruck Production according to job listings seen by publication Electrek
  • Listings include job titles for operations and engineering positions related to producing the exoskeleton body
  • Worlds largest casting press was ordered to stamp out the stainless steel body as opposed to the traditional method of a steel frame with panels

Rivian CEO RJ Scaringe said demand remains strong and a second shift is now running at it’s Normal, Ill plant after posting a $1.73B loss in Q3 up from 1.23B YoY

  • The plant has an official capacity of 150k
  • Initial target for this year was 50k but was cut to 25k
  • Currently 113k preorders for its RT1 up from 98k last quarter
  • $14.2B in cash, enough to run through 2025

Volvo is going all in on its Flagship EV, 3 row, EX90 which will begin production in 2023 and make 60k units in 2024 according to the company

  • It is the first of the “Vanguard” line which will transform the brand to all electric by 2030
  • The company projects the first year’s output will be pre-sold

YouTuber Mr. Beast is about to take the throne as the #1 YouTuber with almost 113M subs to surpass longtime king PewDiePie.  

  • Gaining subs at a rate of 1M every 5 days is far faster than any other youtuber
  • Jimmy Donaldson originally joined the platform in 2012 at age 13 and had his first viral video counting to 100,000 which took 40 hours
  • The 23 year old has a net worth estimated at $56M and was just offered $1B for his business which he turned down

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Kyle Mountsier, Paul Daly

Paul Daly  00:22

Good morning. It is Thursday, November 10, costal jam and back and forth from the intro music. Today we're gonna give you an easy roundup talk about nada, we're gonna call it a manifesto, and there's about to be a new number one YouTuber. The people really want to know who boiler alert. It isn't

Kyle Mountsier  00:42

just this is super random. But I forgot about this like a month ago and it's like, it's 30 seconds ready? Okay, so southwest sent me this thing. You see that right

Paul Daly  00:52

Southwest Airlines Jays hold up, but he's holding up like a mailer came in the mail.

Kyle Mountsier  00:55

I don't know if you got this, but I'm like a Southwest, Rapid Rewards person. And they, you know, I don't know what this means to the world. But I feel like someone's gonna grab something out of this. But essentially, they were like, Hey, you're a Rapid Rewards member. No kidding. Two years ago, we scrapped alcohol service on the plains. Hey, we're bringing it back. Also, here's for free drink coupons?

Paul Daly  01:25

Well, for free drinks, talk about surprise and delight.

Kyle Mountsier  01:29

That's exactly what it is. I'm like, I don't I've literally never had an alcoholic beverage on Southwest.

Paul Daly  01:36

But you're about to? Well, probably not, but. But you're about to give one to the person next to you.

Kyle Mountsier  01:42

I'm gonna make best friends with the next. Like, I'm good. I'm good through October 31 of 2023. So if anyone wants to take me on a Southwest flight, find him in that line for drinks just bam, right? This morning, I was like, you know, in a time where, you know, you're just constantly trying to think like, how do we reengage you know, think about our consumer base, you know, we've got this list of people. You know, what's something that you can surprise and delight your consumer base that's really kind of low barrier allows them to kind of enter that's not just the typical, like, here's your free oil change, you know? So, I don't know,

Paul Daly  02:25

think like sounds surprise and delight for surprise and delight in a time when all we hear about is like price compression and cost cutting is like I feel like it's extra extra potent.

Kyle Mountsier  02:35

It's extra potent. So when I started the show, I was like, What's the thing this morning? That's the thing.

Paul Daly  02:41

We started the show. We're like, we're gonna keep it tight today. Because like, you know, I got this piece of mail. So how it rolls around here? Oh, well, we have a really fun thing that we're about to announce. We're gonna pre announce it right now. We've pre announced it already on November 20. In Nashville.

Kyle Mountsier  02:54

December, December.

Paul Daly  02:57

Yeah. All right. Let's try December Christmas week. We got a little something special clear your calendar. Tuesday, December 28. Between two and 4pm Eastern time we have a big announcement we're gonna announce more details coming up soon. But some of you have been around for more than a year kind of know a little bit what it's about but I'm gonna pull pull out of the old we're going to be live in Nashville we're just going to say that we got Kyle and I are wheels up tomorrow and Saturday heading out to Palm Beach that I think survive the hurricane just fine. I know some people were without power. So if you're there we hope you get restored quickly we got boots on the ground telling us that like we're going to be good might have retail conference is going to be in full effect. We're gonna be making content from their teaching and creative track doing our live streamed from there grabbing all the all the smart dealers and industry partners trying to get them out to you. So follow along over the next, you know, Sunday, Monday, Tuesday, and we'll bring you as much as we can. We got some news to talk about. So

Kyle Mountsier  03:47

let's get into it. I'm so interested in this first for this.

Paul Daly  03:50

This really took me by surprise when I read it right the first the first headline na da released its nada guiding principles on evolving business models, and the dealer franchise system. Let me help them for a second. I'm gonna rebrand that and kind of call it nada 2023 manifesto. Insert emphatic expletive at the end of that, whatever it takes, because that's really what it reads like to me when I read it. I mean, it's obviously buttoned up.

Kyle Mountsier  04:19

Let's start with this. If anyone's like, Oh, my goodness, I'm gonna have to read a thing. It's not No, no, no click on it. It's four pages. It's really only two pages and you get a really clear sightline. On what nada is thinking what they're probably having conversations with dealers industry partners government at OEMs. And so just like you gotta go check it out.

Paul Daly  04:41

It's not a thing to read. This is like a call it a SOTU length. Right. Even we can keep up with this document. So so the team over the PR team, Jared and Juliet, they always crush it. They are leaning in. And here we'll give you a little excerpt from it because I don't know if we have to put up on screen but basically, it says like franchises them franchise system title. And it says nada, and every time there for something, it's in green box when they're against it, it's in a red box. So it says na da da is for using the dealer franchise system for all new vehicles sold and service. And ADA is for each state applying its regulatory requirements to all entities allowed to sell motor vehicles in the state. And a DA is against the further creation of different sets of regulatory requirements for different OEMs for the distribution of motor vehicles, and they go through, and they hit on four or five big topics, when it comes to direct to consumer sales when it comes to transparent pricing, right. And ABA is like we are for order reservations, we are for transparent pricing. We are against inventory allocation, ordering programs that fully embrace the franchise distribution system. So I think they did a fantastic job with this to let everyone know where they stand.

Kyle Mountsier  05:46

Yeah, you know, it's it's pretty simple. So don't like go try to think they've kind of, I wouldn't say this is like the solution matrix. This is just the stuff oh, you know, this is the line. And they don't think of it as like, oh, they figured out how to do things in the future. And I think, you know, what, what I'm constantly encouraging is, okay, so if you're a dealer or an OEM, and you're looking at this, like, think of this as like, the core guiding principles, and then there's still iterations, and there's still elements of this that are flexible and agile, to be consumer centric. So that the hard thing about drawing a line in the sand is you drawn a line in the sand, right? Where it's like, this is what it is. But the good thing is, is it gives you the freedom kind of to kind of work within some constructs. And I would say like, for me, if I'm Nada, I'm kind of getting to, I'm going to people and like, it's almost like a petition or like, or like, you know, a signatory like, these are at least our core principles, and we agree and adhere to this. And then we iterate off of that, that move would be really, really strong. And if you could get a whole bunch of, you know, dealers and OEMs in the same room, I think that move would be would be so good to do.

Paul Daly  07:05

Gonna make gonna make a humble suggestion. And that is that you start? Well, I really mean that too, is that I think what could be added to this, and championed because when you go in and you start drawing lines in the sand, right? I hear you, everybody, everybody starts stepping back, right? Like oh, they they start loading the weapons right put on the bulletproof Israel, I guess it's gonna be like that. But really, I think there's an opportunity to say, NAD is for the absolute best customer experience imaginable. That's the one thing that NAD is for building community around the product of automobiles, right. And then starting there, and then positioning themselves like, and this is why we are the best, obvious solution for doing that. Well. So we'll see how things evolved. I know that just as a

Kyle Mountsier  07:53

note, I don't know if anyone heard in there. But that's kind of, you know,

Paul Daly  07:58

it's kind of a disposition. So

Kyle Mountsier  08:01

that's our position. Because,

Paul Daly  08:03

you know, we kind of wrap our arms around it. It is it is we did make our own little manifest. So that'll be that'll be v2. There you go. Firstly, make content because you know what you believe. Second, define what you believe so other people can sign up with you. Alright, speaking of having, I don't have one, I got nothing. Speaking of

Kyle Mountsier  08:20

a kind of game up, news is always on the horizon.

Paul Daly  08:24

I'm gonna I'm gonna play the old segway button. And we're gonna give you a little roundup so that we're trying something new. Today, we're gonna give you three stories rounded up in a topic of Eevee news roundup. So number one, Tesla has started hiring for cybertruck Production According to job listings seen by the publication electric. There are six listings, I believe are seven, you can click through and go to it from the notes, mainly job titles for operations and engineering positions related to producing the exoskeleton body. That is the cybertruck. As you know, eventually they ordered the world's biggest casting machine, they're going to produce the whole exoskeleton that's panels and frame lievable in one stamp. So obviously, they need some engineers and people to make sure that's going to go out they're going to surely have a few things to figure out as opposed to the usual model, which is a steel frame with panels put onto it. So they've listed it out there. That's an indicator they said, you know, production, early production 2023, mid mass production and of 2023. So proof says that they're getting going next story rivian CEO, RJ is it's carnage. Orange scarier said I've never said his name out loud said demand remains strong. And a second shift is now running at its normal Illinois plant. That's the name of the town normal Illinois. Sounds like they're trying to sell us on something but it's not normal, after posting after posting a 1.3 and $1.7 billion loss in q3, which is more than the loss, same time last year, which was 1.2 billion. So the plant actually has an official capacity of 150,000 vehicles. The initial target for this year was 50,000. They cut that back in half. So now the target is 25,000. I know it's Good news, bad news. Currently, they have 113,000 pre orders, which is more than they had last year, they had 98,000. Now they have 113,000. They only made 25,000 this year if everything goes well, but on the bright side, they do have $14 billion in cash sitting in the little piggy bank. They said that's enough to keep running the company through 2025. Here's,

Kyle Mountsier  10:18

just come on. See what other industry is like? Yeah, yeah. Well, we got basically a year of pre orders. We have no clue how we're gonna satisfy him and we're cutting our current production. Everyone's still good. No, then he cuts

Paul Daly  10:33

the they didn't cut. Oh, you mean like cut it from 50? To 25? Right. Right, right. Yeah. Well, they just added a second shift. So maybe that'll be 50 next year, but even so if you're on that pre order list, you got a little while to wait. Lastly, in the Evie Roundup, Volvo is going all in on its flagship, Evie, it's a three ro e x 90, which will begin production in 2023. And they're like, Yo, you're number one, we're making 60,000 of these in 2024. And we're gonna do it too. Oh, yeah, they will. Yeah, they will. I mean, that's like the strength of the, you know, traditional automotive manufacturers. Like they know how to make a thing.

Kyle Mountsier  11:06

They know how to process that r&d, a good engineering through, it's just, you know, it's just

Paul Daly  11:11

the strength, which is why they're going to come come back roaring, this is the first of their Vanguard line, which is going to transform their entire brand to Ali V by the year 20, year 30. And, like we said, they do predict that their first year is output will completely be pre sold.

Kyle Mountsier  11:31

So no doubt, no doubt. Yeah, I mean, that the thing is here is like, I'm also pro, you know, Legacy OEM only because you know, that they have kind of these standards and structures in place. Everybody's been saying even like, you know, for dealers, it's like, oh, our dealers gonna sell EVs and it's like, now they're gonna put everyone through some product knowledge and they're still going to sell the cars, you know, how are OEMs gonna sell EVs? Well, they're gonna do some art r&d. They're gonna make from the line or they're gonna do EVs like it's not to me like that next step is actually not as mind boggling as I think people think it is. And these new entrant OEMs are recognizing how difficult it is to scale up engineering and production.

Paul Daly  12:12

Yeah, so I mean, it's really a set stage for someone coming up front doing this new thing. And then oh, like the OG has been like, oh, okay, we see what you're doing. Watch this. Watch this. Speaking of watch this segue. It's not bad. That was probably the best one.

Kyle Mountsier  12:31

I'm proud of that.

Paul Daly  12:32

Yeah, probably the best one. I could do that. Good. So you YouTuber we've talked about him on this show for the last two years, which is a little bit of a brag right? YouTuber Mr. Beast is about to take the spot as the number one youtuber in the world with almost 113 Subs who actually is the current we have it up on the screen PewDiePie PWDIEP. Ie, don't ask, is the number one holder right now with 111 million subscribers, Mr. Beast is almost at 111. So there's less than a million people behind them. Mr. Beast is acquiring 1 million subscribers every five days.

Kyle Mountsier  13:11

Unbelievable. It's crazy guy is just, he's, it's unbelievable how quickly he's growing. And, you know, like, my perception of, like, I'm always like, Oh, he's probably like, you know, in his early 30s, this dude is 23. He started on YouTube, the age of 12. Or at the age of 13, in 2012, and his first viral video was and a lot of people don't know, this was just him counting to 100,000 Like, that's what got him going on screen on screen. So got 40 hours, like, you know, just just totally changing the game of what it looks like to be you know, and and, and people keep saying like, how does he keep going bigger? Like, how does he keep doing more crazy things and like, it's obvious, his imagination goes the money is free flowing, it's ready to go. He just turned down a $1 billion offer

Paul Daly  14:05

whether it be with a b Since net worth is supposed to be 56 million he turned down a billion he was having this conversation with Gary Vaynerchuk right and Gary was like he could good thing because people underestimate the ability to scale products sell products in mass when you have this type of site and he's got other YouTube channels. That's just his main channel. Right? And you misunderstand the actual retail merchandising value of a brand that big Gary and Mr. B set I don't know it probably have to be somewhere like 10 billion yeah and Gary when you think I don't even know if that's enough.

Kyle Mountsier  14:36

And when you think about like his his alternate stuff, right? Like he's got you know, game engines and stuff like that, like his ability actions spin up attention. And and, and revenue is so fast right now. Like it just the scale is so quick. Because when you have that much attention on brand, like whatever you do, just all the sudden becomes attractive, right? It's it's

Paul Daly  14:59

so much Fun. It's so much fun. It's family friendly content. My kids watched it all the time on YouTube. He then he started like giving money to people right like this. You watched his Halloween short, right? He's like people are coming up little cages like here's $10,000. Here's two iPhones, right? And then this one guy, this one guy is in a wheelchair that the end of the short he goes, here's the 110 $1,000 for Halloween. He's like I came here for some candy. He's like, I have this jar of peanut butter and the video as the guy goes, I'm allergic. Haven't seen that. Well either way. Check it out, Mr. Beast. It's a lot of fun. And I'm happy to say miles my son miles and I were talking him a miles. This about the story this morning Miles is we've been following him since he had 3 million I was like yes, we have. Yes, we have. So there you go. We hope that gives you the energy you need to get into your Thursday. Heads up. head on a swivel. Think about that surprise and delight tiles called talked out about in the beginning. A lot of stuff changing. Make sure you're establishing what the new center is

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