*By Conor White*
The positive [news](https://cheddar.com/videos/tesla-stock-surges-after-q2-earnings-report) in Tesla's second quarter earnings report outweighed the negatives for most investors, sending shares up more than 12 percent to their highest level in a month.
The electric carmaker announced that Model 3 production is up, but it posted losses of more than $700 million.
Some analysts have fundamental doubts about Tesla's future.
"It's a story stock," said Mark Spiegel, managing member at Stanphyl Capital. "What you have here are: bulls who couldn't care less about balance sheets or profit and loss statements; and you've got bears, or as I would call them, realists, who care a lot about that kind of stuff."
Spiegel counts himself in the latter group. He said in an interview Thursday on Cheddar that Tesla didn't do nearly enough to assuage fears about its future ー and that doesn't even account for all the other car companies eager for a bigger slice of the electric vehicle industry.
"There's a massive amount of competition coming for this company," Speigel said. "Between the Jaguar that's out now and the Audi, Mercedes, and Porsche coming out next year, it's going to destroy Model S and X sales, and that's where \[Tesla's\] margin isーwhatever margin they have."
And even though [outspoken](https://cheddar.com/videos/will-elon-musk-behave-on-this-weeks-earnings-call) CEO Elon Musk behaved on this conference call, there's no telling what he will do next.
After reaching its production goal of 5,000 Model 3 cars per week, Tesla reports it now wants to churn out 10,000 per week, "as fast as we can."
Spiegel dismissed those numbers ー and Tesla more generally.
"They're a perennial over-promiser and under-deliverer," he said.
"The reason they keep putting out these aggressive numbers is it supports the stock, which is an absurd valuation. If Tesla were a normal car company losing this much money, the stock would be in the low single digits."
For more on this story, [click here](https://cheddar.com/videos/tesla-announces-biggest-loss-ever-but-shares-rally).
The Seattle City Council passed a new law that will require companies making more than $20 million a year to pay a 'head tax.' Amazon and other Seattle-based companies will pay a tax of 14 cents per employee per hour worked, which comes out to roughly $275 per employee each year. The tax will raise money for affordable housing since home prices have risen recently in Seattle. In response, Amazon's vice president said this move "forces us to question our growth here." A Starbucks exec criticized the city for spending "without reforming and fail[ing] without accountability."
A number of top Tesla executives have left the company in the past few months. Aaron Cole, managing editor at Motor Authority, joins us to discuss whether investors should be worried that this 'drain brain' will have negative consequences for the electric carmaker. The company is ramping up production to meet its ambitious Model 3 targets.
Cheddar's Brad Smith speaks with Joe Gibbs, Pro Football Hall of Famer and owner of Joe Gibbs Racing, at a special event outside the New York Stock Exchange celebrating Stanley Black & Decker's 175th anniversary. Gibbs talks about how NASCAR is focusing on expanding its digital outreach to reach a younger audience. He also weighs in on the Supreme Court's decision to reverse a ban on sports gambling.
Facebook could use blockchain technology to flip its business model, giving its users control of how their data is used, says Joseph Lubin, the founder of Ethereum. Facebook announced earlier this month that it will explore blockchain technology, and Cheddar reported the social media company may create its own cryptocurrency.
Rideshare companies won't switch to autonomous cars for "some time to come," because it could lower the price of a ride, which could actually increase demand, says Harry Campbell, a longtime Uber and Lyft driver who is better known as The Rideshare Guy.
The decentralized ledger, which powers cryptocurrencies like Bitcoin and Ethereum, is being "oversold," says Jimmy Song, Bitcoin developer and entrepreneur. The technology is often touted as a silver bullet that will upgrade several industries, but that "hype and promise" has yet to be proven. On the flip side, Song is bullish on Bitcoin, which he says has stood the test of time.
The company wants developers and entrepreneurs to build products that use its XRP cryptocurrency and digital ledger. As Ripple is working on ways to facilitate international transactions, "there's lots of other stuff you can do with XRP, and we want to help other people do that," says Cory Johnson, the chief market strategist at Ripple.
The social media site, once seen as the anti-LinkedIn, now wants to help its users share skills and job pitches with hiring managers, says Francesca de Quesada Covey, Facebook's head of jobs and service partnerships.
The tech giant's new settings are designed to help you take a break from your smartphone, look up from your screen, and reacquaint yourself with the world around you, says Dana Wollman, the executive editor at Engadget.
The decision to abandon recent changes to Snapchat that were unpopular with users raises the question of whether the social media app is trying to appeal more to publishers than its core user, says Marty Swant, a staff writer at Adweek.
Increased interest in the Overwatch League could push franchise fees as high as $100 million in the future, says eSports expert Rod Breslau, better known as "Slasher." The League is currently wrapping up its first season and the Grand Finals are scheduled to kick off at the Barclays Center in Brooklyn, NY, on July 27.
The Falcon 9 'Block 5', which theoretically can be reused 100 times without much maintenance, took off Friday afternoon from the Kennedy Space Center in Florida. The rocket carried a communications satellite into orbit for Bangladesh and then successfully landed back on a platform in the Atlantic.
