Dear Reader,
Good morning.
This is Dylan Jovine with Behind the Markets.
Happy Monday.
Today is Monday, February 16th.
Today I want to talk about Elon Musk — because what he just did is pretty wild.
He's shutting down production of the Model S and Model X in parts of his factories… not because EV demand collapsed… but because he wants to retool those facilities to build Optimus robots.
Humanoid robots.
He's not adding a robot division on the side.
He's replacing cars with robots.
And his stated goal? A million of these things per year.
Now remember something — when you look at Musk's compensation package, the trillion-dollar one everyone talks about, it's not really about electric vehicles anymore.
EVs are maybe a third of the story.
The other two-thirds?
Robotaxis. And Optimus.
He is very clearly pivoting Tesla from being a car company… to being an embodied AI company.
And this lines up perfectly with what we've been talking about for over a year now.
AI was never just about chatbots.
In the beginning, it was "Wow, ChatGPT can write an email."
That was impressive.
But what we said a year ago was that this would move into agentic AI — AI that doesn't just answer questions… but acts.
Right now, tools like Claude, ChatGPT, Gemini — they're starting to build things on their own.
You can say, "Build me a CRM system."
And it will start building one.
Ask clarifying questions. Write the code. Structure the database.
That's very different from just answering a prompt.
Same thing with financial data.
You used to need S&P or FactSet for certain pulls.
Now you can say, "Go into the SEC database, pull this filing, compare it to prior years, summarize the trend."
And it just does it.
So what happens to companies whose entire business model is packaging that data?
What happens to Salesforce if AI can spin up a custom CRM in a week?
What happens to travel agents when AI can plan and eventually execute your whole trip?
This is why you've seen pressure on certain software names.
And this is why Musk moving into robotics isn't random.
AI is jumping off the screen and into the physical world.
That's embodied intelligence.
That's the next phase.
Robotaxis. Factory robots…
Eventually — hospitals, warehouses, logistics, maybe even homes.
And here's where it gets bigger than just investing.
A lot of the Mag Seven are now saying most of their code is written by AI.
So what do you tell your kids?
"Go learn to code"?
What happens when the AI writes the code?
Think back to bookstores in the 1990s.
They didn't all vanish overnight.
But most of them did.
You went from independent bookstores everywhere… to a handful of Barnes & Nobles every 25 miles.
That's how disruption works.
Not total extinction.
But massive consolidation.
And we're at the very beginning of that with AI and robotics.
From a profit standpoint, we've positioned ourselves for this shift in The EI Era and in The Last Retirement Stock.
But from a societal standpoint?
This is going to be one of the biggest adjustments we've ever lived through.
Some industries will shrink while others will explode.
And the future is being written right now.
Anyway, that's what's on my mind today.
Have a wonderful day.
I'll see you tomorrow.
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