Exactly. Financials come out today, and after saying that it's "profits from here on out" ntwo quarters ago, Tesla will probably produce another huge loss.

As is par for the course, their PR news will come hot and heavy: Cars go further! Our entire business model is now robot taxis! None of it matters if you can't sell your product at a profit.

To be fair to Tesla, the "profits from here on out" statements came with some caveats around Q1 2019. I get the feeling that they have moved even more one time charges into the one-time-bad-really-bad quarter as a result.

To be fair to your point, the "Autonomy Day" presentation implied a willingness to renege on the promises about other quarters as well.

Toyota's debt to equity ratio is three times that of Tesla's.

With 5x equity and decades long stable business, you can carry a high debt load. Tesla has more risk of a stock price plummet if they falter.