40 Under 40, Big Buzz Around Big EV Players, New Gen Z Social NoPlace

We hope you’re as ready for this week as we are as we say ‘hello’ to the new Automotive News 40 Under 40 honorees. We also talk about the buzz over Tesla, Rivian, and Polestar and also the new Gen Z social media app. (We knew you wanted one more) 

Show Notes with links:
It’s that time of year again as we get our first look at the Automotive News’ 13th annual  40 Under 40 class, showcasing the industry's brightest and most dedicated leaders. This year's honorees include both lifelong industry participants and those who discovered their passion for automotive retail later in life. There are more than a few friends of ASOTU as well as some fresh faces.

• Shoutout to ASOTU Friends: Gregg Ciocca Jr, Katie Gatusso Duncan, Gray Scott, 
• The list includes 16 women and 24 men with an average age of 34.7 years
• The oldest are 39: Brandon Collins, Ashley Garzone, Ashley Mabery, Nathan Meckley, Caitlin Roberts, Gray Scott
• The youngest are 27: Ethan Bushong, a Managing Partner, and Kielan Whitner, a GM

The EV landscape is buzzing with some notable news from some of the highest profile players, Tesla, Rivian, and Polestar this week:

• Tesla's Cybertruck might be the best-selling electric pickup in the US, with recall data suggesting 8,000-9,000 units delivered in Q2, surpassing Ford's 7,902 F-150 Lightnings and GM's combined 5,125 EV pickups.
• Despite the lack of model-specific sales data from Tesla, the Cybertruck's ramped-up production and pent-up demand position it to lead the market, although competition from GM's Silverado EV is growing.
• Rivian surpassed its Q2 2024 delivery forecasts with 13,790 vehicles, maintaining its annual goal of 57,000 units and aiming for per-vehicle profitability by Q4 2024 through cost reductions and regulatory credits.
• Volvo plans to reduce its stake in Polestar from 48.3% to 18%, following Polestar's significant financial losses in 2023, including a net loss of $1.17 billion and a decrease in revenue and gross profit.

Just when you were getting used to TikTok, and maybe even Threads, there is a new, Gen Z social media app topping out the download charts. Introducing Noplace, a fresh app founded by 27 year old serial entrepreneur, Tiffany Zhong, to be more like MySpace aiming to bring back the essence of social media before algorithms and ads took over. 

• Noplace connects users based on "stars” or common interests, offering features like pinning top friends and a friends-only feed, and amassed 500,000 users on its waiting list through viral TikToks.
• The app is text based and encourages users to take a ‘stream of consciousn

Hosts: Paul J Daly and Kyle Mountsier

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Transcript

Paul J Daly: 0:06

Oh, man, everybody's recovering from a long weekend. There were a lot of out of office messages. But a lot of people were really working in this industry. Today we're talking about the 40, under 40. It's coming around to meet the players in the new Gen Z social platform. Never knew you didn't need let's hear. Never know you didn't need it. But you know now,

Kyle Mountsier: 0:30

I'm excited about the first store today. You know, the LinkedIn post fanfare of the automotive news 40 under 40 is gonna be nuts today. It's gonna be Yeah. Oh, without a doubt.

Paul J Daly: 0:41

I love the 40 under 40. And this year looked at the list. I mean, I don't know a lot of people on that list, which isn't usually the case. So I love it that they're that they're digging deeper into the industry. We'll talk about that in a minute. Obviously, long weekend, a lot of people doing a lot of things. Everybody's getting back settled. Focused. One week of July is already behind us three weeks of July left crazy. Yeah, Doug on the live stream. Yes, quarter three, q3 officially kicked off. It really feels like that the holiday really stalls that for a couple of days. But we're in it now. We have a new podcast releasing today a new episode. We have a podcast called Auto Collabs that you to see o l l ABS you can search it up on any podcast platform. Basically, we're talking about the future of financing is faster with Keyshawn batts of upstart, Sethi, it's a third time he was on the show second or third always a fun, fun conversation. And you're going to learn a little bit about financing AI is use in financing and where do they think that's going to be in the next three to five years? So great episode to check it out. Just search a SOTU on Spotify, Apple podcast wherever you get your stuff. Find it Auto Collabs everywhere.

Kyle Mountsier: 1:46

Let's check it out. Yeah, awesome. Very good.

Paul J Daly: 1:49

All right, let's talk about the 40 under 40. It's that time of year again. We got our first look this morning at automotive news 13th annual 40 under 40 class, showcasing the industry's best, brightest and most dedicated leaders. This year's honorees include both lifelong industry participants and those who discover their passion for auto. Later in life. A lot of those around. There are more than a few friends of asoto as well as some fresh faces some that we recognize right off the bat Greg CO, Jr. Katie Duncan, who is going to be one of the stars of episode four of more than cars to be released soon. And our friend gray Scott list includes 16 women 24 Men with an average age of 34 points. So that's yours. Oh, moving that down. The oldest on the list of 39 just sneaking it in before the last year. So congrats Brandon Collins, Ashley gozone, Ashley Mayberry, Nathan Mackley Caitlin Robertson gray Scott and the youngest coming in hot at 27. I don't know if they have a floor on this, like 27 is the youngest. But there were three honorees under 27 Ethan Bushong, managing partner and kealan Whitner a general manager, a lot of GMs.

Kyle Mountsier: 2:56

There were a lot of G Oh, actually,

Paul J Daly: 2:58

I did a breakdown. I did a breakdown. And I don't know where it is. Now. Let me see if there were

Kyle Mountsier: 3:02

there's a lot of GMs in there. There were a few managing partners in there. I love seeing the ones where like their dedicated HR or marketing. There's the training, right, young lady, that's a finance train our finance Training Manager, right, I think at age 34. So a lot of diversity, diversity in gender and skill set and job role and age. Yeah, from 20s. Yeah,

Paul J Daly: 3:31

I learned I learned a couple of things between 27 and 39. Absolutely. Tell you that much. So it's great. A lot of perspectives. Okay, here's the general breakdown, 15 GMs, five, sales manager seven and finance 70, and marketing and human resources for an executive leadership, three and operations and technical management, and one other I guess we'll call it. Wow,

Kyle Mountsier: 3:55

that's really cool. Like congrats to those to the to that crew, I can't wait. You know, we typically head over to the Automotive News forum at NADA, where these people get celebrated and take a big photo. And yeah, if you know any of them, like we're going to be reaching out just chatting. You know, we love having people on podcasts and, and sharing stories more broadly. So yeah, you

Paul J Daly: 4:19

know them send it our way. Just send a little intro to crew at a soda.com or just send them the email, which by the way, we have a daily email I found out that like some people who know us as an events company, don't know we have a daily email so it's gonna say three times today. Go to ASOTU.com It's a real fun email. Today's was awesome. By the way.

Kyle Mountsier: 4:38

Today's email was this

Paul J Daly: 4:41

was some of it. A little bit of a digest. Evie landscape is buzzing with some notable news from some of the highest profile players Tesla Rivia and Pollstar this week. So basically, this came out like late last week, Tesla cybertruck May be not sure for certain but maybe the best selling electric pickup In the US, with recall data suggesting that they're about eight to 9000 units were delivered in q2 surpassing Ford's 7902, f150, lightnings and GMs combined 5125 Electric pickup so they're kind of crushing there. Despite the the lack of model specific sales from Tesla's side because they don't split them out when it comes like cybertruck, Model X, et cetera, they ramped up production for all this pent up demand that's still there. Although GV GMC Silverado, Chevy Silverado is growing, or as Kyle likes to call the avalanche.

Kyle Mountsier: 5:36

It's just the ambulance talking about Yeah, I mean, real quick before we get to the other automakers like one to be a brand. And people have to measure you by your recall status. Because your report the numbers just don't even need to report the numbers. But also, I mean, you got to, you got to remember, there's 150,000 people on the list, the only limitation that they have is production time, at this point. That's

Paul J Daly: 6:00

true. That's true. rivian, on the other hand, surpassed their q2 2024 delivery forecasts, with 13,790 vehicles still far less than like, a Tesla or whatever. But they maintain their annual goal of 57,000 units and aiming for per vehicle profitability by the end of this year. So that's a major deal. Basically, they have this$5 billion joint venture with Volkswagen, focusing on software and electrical architecture, potentially expanding their hardware and production, enhancing their Evie infrastructure. But yeah, rivian over delivering. So that's a that's a good guy. And finally, you know, what's

Kyle Mountsier: 6:37

the cool story about revenue? Like, they've just done it with the right pace, you know, that they've, you know, I think everybody wants all these automakers to just make massive splashes, but like, reviens just been that steady engine that could type thing. So I think in the end, the fact that they're going to get profitable by the end of and Melissa,

Paul J Daly: 6:57

they say, they say, but they do have, let's say a more accurate prediction history than their contemporary Elon Musk as far as what they will. So x, again, back to the measured pace. I think people are trusting Vivian's prediction just a little bit more right now. But yeah, they still have a long way to go. And it's, you know, they're on their way there, Volvo this a little bit more in the retail franchise world. Volvo plans to reduce its stake in EV maker Pollstar from 48.3% all the way down to 18% following Pollstar significant financial losses in 2023, including a net loss of 1.1 7 billion and a decrease in both revenue and profit. This is obviously reflective of you know, the challenging Evie market demand for premium B EVs declines in consumers as consumers for EVs only as they opt into hybrids. And you know, Pollstar, we were gonna get Matt Hakan on the show to see what his thoughts because he hasn't, I

Kyle Mountsier: 7:55

know, that's what I was thinking. I know, this is interesting, because it's not like Pollstar is going under but you know, when you look at a legacy automaker, and this is going to have a direct impact to their overall market cap, right, because if a massive investment is down 1.1 7 billion impacts their financials, because they're going to put that on the books. And so this is probably just a book move at this point, like 18% is still a pretty hefty investment in the brand. They never had a controlling stake in it. But it, you know, another one, kind of shaky, you know, on on the grounds of

Paul J Daly: 8:34

the make up. Yeah, I mean, it's a great car. They're leveraging franchise network, which I mean, you think about like partnering with somebody like Matt Hagen, and just an entrepreneurial mindset, who's pushing the brand forward. Like I've leaned into, like the success of someone through a franchise network. It's a great product, you know, I've driven one, it's, it's an awesome car. You know, we'll see what they do. They also have some really positive some really creative ways to lease one, like these all inclusive leases. So it's like very low risk. 12 months, 24 months, 18 months, where you can get it, try it. Yeah, we'll see what happens speaking to see and what happens on everybody all the time.

Kyle Mountsier: 9:13

telling you what if you thought you were just getting used to tick tock and maybe threads. There is a brand new Gen Z focus social media app topping the download charts this week. The app is called no place. Founded by 27 year old entrepreneur Tiffany Zang. The idea is to make it more like MySpace bring back the essence. I'm sorry. You said what make it more like what? Yeah, yep, MySpace, MySpace, which apparently is the essence of social media like that was the golden nugget before the algorithms and the ads took over. The way that no place works is it connects users based on stars, or what they consider common interests, offering features like pinning top friends or friends on the feed. I'm earlier this year, it quickly went viral on Tiktok and got a beta user set of half a million users. So just through tick tock, which is really kind of interesting.

Paul J Daly: 10:14

Yeah, leverage it to start a competitor.

Kyle Mountsier: 10:18

Basically, what happens is you go in, you choose top 10 Friends, which easily to a friend's only feed. Their goal is to expand group app group chat features with AI tools naturally, while avoiding unnecessary feature bloat. I mean, to foster get this genuine connection, getting inspiration always on forums, like Reddit, so it's like Myspace, Facebook, x, and Reddit had a baby and put it in a really interesting graphic scenario. And called it no place. No

Paul J Daly: 10:53

Place Like comb. Well. Now here's actually the history of the name is kind of funny. So first of all, Tiffany song is a rockstar, she started like, came onto the scene as like a prodigy 17 year old and she's been building products ever since. You know, so she's She kind of understands this, this world very well. It was originally supposed to be called no space. And they got a cease and desist letter from they didn't disclose who but I think we all know who it was. So they were from no space to no place. You know, I'm really curious to check this out. I think this really highlights the desire for people to have authentic human connection, it never is out of style, it never is undefeated, it always finds a way back to the center of the conversations, while other platforms are struggling to figure out how to get their algorithms to serve both the user and the company's interest. It's a very tricky middle ground. And so I think this just capitalizes on the desire for Gen Z to step out of people telling them what they should be paying attention to, and instead focusing on the things that they want to pay attention to, very similar to YC lead, Gen Z is on Reddit, you know, like, this is what we're talking about this is want to talk about, I don't care about your fill in the blank there. So I'm fan I'm giving this like, I'm giving us like a thumbs up positive vote, I think it's gonna be great. It's

Kyle Mountsier: 12:10

positive vote. The other thing that I would pay attention to, especially from a marketing perspective, is look at what this generation is kind of viewing as cool or the new thing when it comes to graphics when it comes to design. Like if, if that's like, I would download it just for that. Because it is a total departure from what like the last seven years of, of apps kind of look like and I think that you're going to see more marketing more designed, coming out in that absolute arena. Good. So it's a place to play. Very,

Paul J Daly: 12:49

very good indicator. Well, we hope you got nice and started for this week, third quarter, second week of July. Either way, lots of pay attention to a lot to think about. We got your back, actually sign up for the email asoto.com We'll see you there.