Tesla investors and fanboys alike flocked to Hollywood for the company's "We, Robot" event. The company's backers hoped Musk would finally unveil the long-awaited "$25,000 Tesla" — a lower-budget EV they hoped would rejuvenate sales as the costly Cybertruck flopped — but what they got was anything but.

Tesla CEO Elon Musk is said to have pushed ahead with the robotaxi business despite an internal report warning of possible losses. On Wednesday, electric vehicle media outlet Electrek reported that Musk had gathered various executives at Tesla's Palo Alto,

The Information revealed Musk didn’t feel a compact EV was worthy of Tesla and opted for the Cybercab despite warnings it might not ever make money.