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Elon Musk Compares Panic-Buying of Chips to Toilet Paper Shortage at Epic Scale

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Wed, 06/02/2021 - 09:50
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Yuri Molchan
Tesla CEO believes that the chip shortage is blinding companies that are ordering more than necessary, comparing this to the recent toilet paper “crisis”
Elon Musk Compares Panic-Buying of Chips to Toilet Paper Shortage at Epic Scale
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In a recent Twitter thread, Elon Musk shared his take on the current issue with the global supply of microchips. The supply has been dropping sharply, and companies are grabbing up as many as they can.

Tesla CEO, carbon footprint fighter and Dogecoin lover Elon Musk believes this is similar to the global population rushing to buy great amounts of toilet paper last year.

Musk tweeted that companies ordering more chips than they need are creating chaos in Tesla's supply chain of chips, with microcontroller chips being the biggest problem. As for the chips shortage, he does not believe it to be a long-term issue.

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Tesla is now moving cars from China to Europe and, therefore, is increasing prices to sell them in the U.S.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.