$eose I see a lot of mis-use of the word moat. What prevents Tesla from developing their own 6-15 hr duration solution? The answer to that question is made of moats. Have you thought about it? ==== For $eose there are moats for different players successfully competing in the US market. Chinese competition: The US Congress doesn't want them in the US market. CATL tried to do a JV with Ford for EV batteries. Congressmen convinced Ford to back out Congress recently enacted law that banned the US military from using CATL grid batteries from 2027 forward (as I recall it specified CATL specifically). I think the law is retro-active so existing installs have to be removed. Tesla uses CATL batteries in their MegaPack. In May 2024 Biden announced a 25% tariff on those batteries starting in 2026 (18 months from now). If Tesla doesn't change suppliers, I expect that tariff to increase. Neither Biden nor Trump like CATL having a huge presence in the US grid battery market. === I am not worried about Chinese companies gaining a strong market presence in the US LDES market. And I expect CATL to lose its strong relationship with Tesla. ========================= Existing non-US grid scale competition operating outside the US: The IRA allows these companies to build US manufacturing plants and enter the US LDES market. No special moat other than they will need to actually build the US plants if they want 45X tax credits. ==== Existing US grid scale competition: The Lithium-Ion based and Flow battery based competition is real. But, the market has real problems with both the NIMBY aspect of Lithium and the maintenance issues of flow batteries. I believe the LDES market in the US will demand 3 features: non-flammable, non-flow, long-life. What prevents them from developing their own non-flammable, non-flow, long-life battery? The MegaPack using LFP is apparently not subject to thermal runaway, but it is still highly flammable once ignited. I don't believe lithium based batteries have a viable non-flammable option today. It might be possible, but it is a big moat. Tesla could apparently easily design a non-lithium flow battery for the LDES market. Numerous others have. But non-flow, non-lithium LDES is a very rare beast. The battery chemistry for a non-flow, non-lithium battery has taken $eose from the 1970s to now to become acceptable. Numerous patents along the way. And chemistry is challenging. It is very much a trial and error science. Joe has told us $eose has tried over 2000 battery chemistries at its NJ research lab. $eose was incorporated in 2008. 15 years to develop a commercially viable non-flammable, non-flow battery. Developing the chemistry of non-flammable, non-flow battery seems to be a massive moat. New entrants to grid scale: This could be new companies or new chemistries. The US utility market is extremely conservative. $eose has been doing pilots since at least 2018. 6 years later we still hear potential customers saying they need field data. Any new company or new chemistry is going to have to go through the same multi-year effort to prove themselves. The US LDES market is not accommodating to either new companies or new chemistries.

Truly, seems stupid to me to wait just to pay more in 5 months. It's not like exercising is inherently a fantastic deal. Just buy shares on the open market now and profit from the share appreciation between now and June 30. Then, if SP is above $8.67 take a net settlement on those units at the end of June. Joe grows his net worth significantly more that way.

@bert_gilfoyle Net settlement == cashless exercise? === I want him to own the full share amount, not go cashless 😕

@JmsInvestor @bert_gilfoyle Assume SP is $5.50 today and $11.00 on June 30 (expiration day). I'm no expert, but it seems the smart thing to do if he is confident is to buy today's shares, not wait 5 months just to pay 50% more?

Does it? ++++ He could borrow $5mm today and get shares well below $8.67. If I was him and I was confident the SP would be well above $8.67 by the EOY, why would I wait until June to buy shares at $8.67 when I can buy them much cheaper today? Only if he is going to do it cashless, or immediately buy and then sell do the options even look attractive.

@TolmanDev I use React (JavaScript libraries) for the front-end and Flask (Python) for the backend. Your front end has to run inside the browser. You don't have unlimited options. But for your backend, you do.

RT @thejefflutz: I view what @DOGE is doing rn as the “low hanging fruit” stage. Obvious waste , fraud, & abuse… Lots of focus on headcount…

RT @MrChallinger: Soooooo my @Tesla @cybertruck crashed into a curb and then a light post on v13.2.4. Thank you @Tesla for engineering th…

@n0_one_kn0ws @rileybrown_ai I quote posted your fantastic reply! Thanks

If you use #CursorAI and don't use .cursor/rules/*.yml files, read the below link and in full!

@n0_one_kn0ws @rileybrown_ai Eric Z is a Cursor employee Read this post and the reply:

Vince Longo works out of Vinings (not far from the Battery). I've seen his work and been very impressed. He's won GA builder of the year at least once. But, I don't think he can build a house for $1mm. He has one he built in Serenbe right now -- spec. On the market for $3mm.

@n0_one_kn0ws @rileybrown_ai .cursor/rules right?

RT @ILA_NewsX: @elonmusk Good riddance.

@KoonesEdward @nav7634 @srvc76 @kremsnite That is more less what I recall from the Nov 6 call too. I just think the enclosure situation resolved itself well before worst case.

@KoonesEdward @nav7634 @srvc76 @kremsnite If you have a reference to Q1 being only $7mm, I would like to see it. I hope you are mistaken :(

You are quoting guidance given during the Q3 call on Nov 6. The enclosure issue was not resolved and it wasn't clear it would be by any definitive date. Prior to enclosuregate the Q4 guidance had been above $30mm. Enclosuregate was apparently resolved in December, so my estimate is based on the assumption the Q1 reality should be meet original Q4 guidance. Am I right? Only time will tell.

@fullselfdaniel Supply chain? === $eose is going to be a globally large consumer of graphite felt from what I can tell. Same for conductive plastic? $TTI has said they can handle 2-3GWh or production, but then they have to start buying bromine from other sellers!

Why "orders" doesn't ramp until 2H'25? Or why "revenue" doesn't ramp until 2H'25? I for one will be disappointed if we don't do: Q1'25: $30mm revenue Q2'25: $50mm Q3'25: $75mm Q4'25: $100mm $255mm total Way above current guidance, but I think current guidance is super sand-bagged. I believe they have customers in hand for the 1st 3 quarters, but I'm thinking they need to nail down another big order take that Q4 production.

@bert_gilfoyle Damn, the plant was supposed to be 10 miles or so from my house!