Lessons from the Demise of Tesla’s Cybertruck

Apple Podcast Spotify

Lessons from the Demise of Tesla’s Cybertruck

I have a confession to make – I’ve had a crush on a Cybertruck for a long time. Do you know what a Cybertruck is? If you’ve been driving down the interstate and you see this strangely shaped vehicle that looks like a stainless-steel bulky version of the Delorian from Back to the Future? That is Tesla’s Cybertruck. I have never been serious about buying one. But being a fan of tech, I have been fascinated by them. But there are apparently very few people like me that like this strange looking vehicle. According to the Wall Street Journal, there were only a little less than 2,000 of them that were registered in the U.S. in October. Compare that to over 70,000 for the F Series pickup truck. Well, Elon Musk broke my heart last week when he announced that production of the Cybertruck will cease to make room for Tesla to make self-driving Robocabs. I think this is actually a pretty big news and I think there are several things small business owners can learn from this experiment for one of the most creative entrepreneurs of our time.

Even the best fail on their way to success. The same man who envisioned and accomplished launching scores of satellites into space to provide worldwide internet access got it wrong on the Cybertruck. And Cybertruck isn’t the only Tesla vehicle that wasn’t well received. Tesla has also discontinued its luxury Model S and Model X vehicles and is focusing on its model Y (which happens to be America’s top selling EV) and model 3. As a matter of fact, failure is often necessary in order to eventually arrive at a place of success. Winning is often preceded by losing. It is the very lessons learned in losing that often build the foundation for winning. I don’t know about you, but I’m afraid to fail. Perhaps it is just my pride, but I find failure one of the scariest things in the world to experience. But that’s not the right attitude. I will never realize my fullest potential if I’m not willing to fail and neither will you. I’m not perfect, and hey, neither is Elon Musk. Now, don’t hear me saying that we throw caution to the wind and try anything and everything with reckless abandon. We need to be strategic and wise about the risks that we take. And we have to make sure we can stand the downside of failure. We have to calculate our maximum downside and then ask whether we are okay with that outcome in order for failure to become a positive. I can assure you, Elon Musk has learned much from the experience that is the Cybertruck and it will make the Tesla vehicles that do stay in the market better.

It is difficult to distinguish hype from genuine game changers. In 2019, Musk claimed Cybertruck was going to be a gamechanger for trucks. And it could have been. But it was impossible to know at the time. For every Facebook there was a My Space. For Every VHS tape there was Beta Max. For every Redbox Kiosk, there was Blockbuster Video. Sometimes the hype is real. Sometimes the hype is early. And sometimes, in the case of the Cybertruck, the hype was just wrong. So, the advice here would be, don’t stake everything on something new and unproven. Let’s apply this to the trends of today. I believe that AI is a gamechanger and not just hype. But we don’t really know all the ways that it is a gamechanger. So, experiment and adapt rather than going all in on a particular strategy or investment based on the too early to tell future. This is a much better approach, I think, as we sample new technology and try to integrate it into the ever-changing normal.

Creative Perseverance is an essential in business. We’ve got to keep going and we’ve got to keep growing. There will be setbacks, there will be unexpected surprises, there will be roadblocks. Each one of these challenges is an opportunity to grow and get better. The business leaders who embrace this will look for ways to go from one version of their business to a more improved version year after year. This doesn’t mean to turn a deaf ear to failure. It doesn’t mean to try the same thing over and over again and expect better results. It means to tweak and try something different to see if it will yield different results. I call this creative perseverance.

Speaking of creativity, at Foundation Bank and MBC, we build creative financial partnerships. That’s because we know that there is no one size fits all financial solution. We believe every business needs a great bank that understands their needs and their goals and that comes alongside them with a creative and customized solutions to help them succeed. We would love the opportunity to do that for your small business. We are locally owned and committed to helping local partners succeed. If you want to find out more, start your financial conversation with us today by visiting foundationbank.org. We hope you’ll subscribe to this podcast to it in your favorite podcast app and share it on social media. Until our next episode, God bless you.

-President Chad P. Wilson, CFP

Today’s episode of “Money Matters” was written and recorded by President Chad P. Wilson of Foundation Bank/McKenzie Banking Company on November 10, 2026. This episode does not constitute financial advice. Please consult a financial professional to discuss your specific needs. Any rates mentioned are subject to change and are accurate as of the recording date. Foundation Bank/MBC is an Equal Housing Lender, Member FDIC.