├── __init__.py ├── app ├── __init__.py ├── config │ ├── __init__.py │ ├── config.py │ └── __pycache__ │ │ ├── __init__.cpython-38.pyc │ │ ├── __init__.cpython-39.pyc │ │ ├── config.cpython-38.pyc │ │ └── config.cpython-39.pyc ├── models │ ├── __init__.py │ ├── __pycache__ │ │ ├── __init__.cpython-38.pyc │ │ ├── __init__.cpython-39.pyc │ │ ├── answer_retriever.cpython-38.pyc │ │ ├── answer_retriever.cpython-39.pyc │ │ └── embeddings_service.cpython-38.pyc │ ├── answer_retriever.py │ └── embeddings_service.py ├── controller │ ├── __init__.py │ ├── __pycache__ │ │ ├── __init__.cpython-38.pyc │ │ ├── __init__.cpython-39.pyc │ │ ├── controller.cpython-38.pyc │ │ └── controller.cpython-39.pyc │ └── controller.py ├── static │ ├── img │ │ └── loading.gif │ └── styles.css ├── __pycache__ │ ├── __init__.cpython-38.pyc │ └── __init__.cpython-39.pyc ├── assets │ ├── embeddings │ │ ├── state_of_the_union_speech.txt.embedding.pkl │ │ ├── thomas_paine_common_sense.txt.embedding.pkl │ │ ├── declaration_of_independence.txt.embedding.pkl │ │ ├── meditiations_marcus_aurelius.txt.embedding.pkl │ │ ├── romeo_and_juliet_shakespeare.txt.embedding.pkl │ │ ├── constitution_of_the_united_states.txt.embedding.pkl │ │ └── tsla_earnings_transcript_q4_2022.txt.embedding.pkl │ └── raw │ │ ├── declaration_of_independence.txt │ │ ├── constitution_of_the_united_states.txt │ │ ├── state_of_the_union_speech.txt │ │ └── tsla_earnings_transcript_q4_2022.txt └── templates │ ├── answer.html │ ├── documents.html │ ├── ask.html │ └── base.html ├── requirements.txt ├── environment.yml ├── demo-ai-template2.gif ├── run.py ├── __pycache__ └── run.cpython-39.pyc ├── run.dev.sh ├── create_embeddings.sh ├── omniscient.iml ├── create_embeddings.py ├── entrypoint.sh ├── dev.Dockerfile ├── LICENSE └── README.md /__init__.py: -------------------------------------------------------------------------------- 1 | -------------------------------------------------------------------------------- /app/__init__.py: -------------------------------------------------------------------------------- 1 | -------------------------------------------------------------------------------- /app/config/__init__.py: -------------------------------------------------------------------------------- 1 | -------------------------------------------------------------------------------- /app/models/__init__.py: -------------------------------------------------------------------------------- 1 | -------------------------------------------------------------------------------- /app/controller/__init__.py: -------------------------------------------------------------------------------- 1 | -------------------------------------------------------------------------------- /app/config/config.py: -------------------------------------------------------------------------------- 1 | OPEN_AI_API_KEY = 'ADD_KEY_HERE' 2 | -------------------------------------------------------------------------------- /requirements.txt: -------------------------------------------------------------------------------- 1 | flask==2.2.3 2 | langchain==0.0.74 3 | openai==0.26.4 4 | faiss-cpu==1.7.3 -------------------------------------------------------------------------------- /environment.yml: -------------------------------------------------------------------------------- 1 | name: myenv 2 | channels: 3 | - conda-forge 4 | dependencies: 5 | - python=3.11 6 | - flask -------------------------------------------------------------------------------- /demo-ai-template2.gif: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/HEAD/demo-ai-template2.gif -------------------------------------------------------------------------------- /app/static/img/loading.gif: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/HEAD/app/static/img/loading.gif -------------------------------------------------------------------------------- /run.py: -------------------------------------------------------------------------------- 1 | from app.controller.controller import app 2 | 3 | if __name__ == "__main__": 4 | app.run(debug=True, host='0.0.0.0') 5 | -------------------------------------------------------------------------------- /__pycache__/run.cpython-39.pyc: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/HEAD/__pycache__/run.cpython-39.pyc -------------------------------------------------------------------------------- /app/__pycache__/__init__.cpython-38.pyc: -------------------------------------------------------------------------------- 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/app/assets/embeddings/declaration_of_independence.txt.embedding.pkl: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/HEAD/app/assets/embeddings/declaration_of_independence.txt.embedding.pkl -------------------------------------------------------------------------------- /app/assets/embeddings/meditiations_marcus_aurelius.txt.embedding.pkl: -------------------------------------------------------------------------------- https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/HEAD/app/assets/embeddings/meditiations_marcus_aurelius.txt.embedding.pkl -------------------------------------------------------------------------------- /app/assets/embeddings/romeo_and_juliet_shakespeare.txt.embedding.pkl: -------------------------------------------------------------------------------- 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-------------------------------------------------------------------------------- /run.dev.sh: -------------------------------------------------------------------------------- 1 | docker stop omniscient-web 2 | docker rm omniscient-web 3 | 4 | docker build -t omniscient -f dev.Dockerfile . 5 | 6 | docker run -i -t -p 8000:5000 -d --name omniscient-web -v "$(pwd)":/app omniscient 7 | 8 | # then go to http://localhost:8000 -------------------------------------------------------------------------------- /create_embeddings.sh: -------------------------------------------------------------------------------- 1 | # Place a txt file in assets/raw directory, then add the filename here: 2 | #FILE_NAME_TO_CREATE_EMBEDDING="tsla_earnings_transcript_q3_2022.txt" 3 | 4 | docker exec -it omniscient-web conda run --no-capture-output -n myenv python /app/create_embeddings.py #$FILE_NAME_TO_CREATE_EMBEDDING 5 | -------------------------------------------------------------------------------- /app/templates/answer.html: -------------------------------------------------------------------------------- 1 |

Answer

2 | {{ response['answer']}} 3 | 4 |
5 |
6 | 7 |

Sources

8 | 9 | {% for source in response['sources'] %} 10 |

{{ source }}

11 |
12 | {% endfor %} 13 | 14 | 15 | -------------------------------------------------------------------------------- /omniscient.iml: -------------------------------------------------------------------------------- 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | -------------------------------------------------------------------------------- /create_embeddings.py: -------------------------------------------------------------------------------- 1 | import sys 2 | 3 | from app.models.embeddings_service import EmbeddingsService 4 | 5 | # if filename is present as commandline argument, use it as the filename to embed, else use the string 'ALL' 6 | if len(sys.argv) > 1: 7 | filename_to_embed = sys.argv[1] 8 | else: 9 | filename_to_embed = 'ALL' 10 | 11 | EmbeddingsService.create_embeddings(filename_to_embed) 12 | -------------------------------------------------------------------------------- /app/templates/documents.html: -------------------------------------------------------------------------------- 1 | {% extends 'base.html' %} 2 | 3 | {% block body %} 4 | 5 | 6 | 7 |

Choose a document to ask questions on it:

8 |
9 | 10 | 11 | {% for document in documents %} 12 | 13 | 14 | 15 | {% endfor %} 16 |
{{ display_format(document) }}
17 | 18 | {% endblock %} -------------------------------------------------------------------------------- /entrypoint.sh: -------------------------------------------------------------------------------- 1 | #!/bin/bash --login 2 | # The --login ensures the bash configuration is loaded, 3 | # enabling Conda. 4 | 5 | # Enable strict mode. 6 | set -euo pipefail 7 | # ... Run whatever commands ... 8 | 9 | # Temporarily disable strict mode and activate conda: 10 | set +euo pipefail 11 | conda activate myenv 12 | 13 | # Re-enable strict mode: 14 | set -euo pipefail 15 | 16 | # exec the final command: 17 | exec python run.py -------------------------------------------------------------------------------- /dev.Dockerfile: -------------------------------------------------------------------------------- 1 | FROM continuumio/miniconda3:22.11.1 2 | 3 | WORKDIR /app 4 | 5 | # Create the environment: 6 | COPY . /app 7 | RUN conda env create -f environment.yml 8 | 9 | # Make RUN commands use the new environment: 10 | SHELL ["conda", "run", "-n", "myenv", "/bin/bash", "-c"] 11 | 12 | RUN echo "Doing installs in requirements.txt..." 13 | RUN pip install --no-cache-dir -r requirements.txt 14 | 15 | EXPOSE 8080 16 | 17 | ENTRYPOINT ["conda", "run", "--no-capture-output", "-n", "myenv", "python", "run.py"] -------------------------------------------------------------------------------- /LICENSE: -------------------------------------------------------------------------------- 1 | MIT License 2 | 3 | Copyright (c) 2023 Patrick Grenning 4 | 5 | Permission is hereby granted, free of charge, to any person obtaining a copy 6 | of this software and associated documentation files (the "Software"), to deal 7 | in the Software without restriction, including without limitation the rights 8 | to use, copy, modify, merge, publish, distribute, sublicense, and/or sell 9 | copies of the Software, and to permit persons to whom the Software is 10 | furnished to do so, subject to the following conditions: 11 | 12 | The above copyright notice and this permission notice shall be included in all 13 | copies or substantial portions of the Software. 14 | 15 | THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR 16 | IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, 17 | FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE 18 | AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER 19 | LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, 20 | OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE 21 | SOFTWARE. 22 | -------------------------------------------------------------------------------- /app/models/answer_retriever.py: -------------------------------------------------------------------------------- 1 | import re 2 | 3 | from langchain import OpenAI 4 | from langchain.chains.qa_with_sources import load_qa_with_sources_chain 5 | 6 | 7 | class AnswerRetriever: 8 | def get_answer(self, embeddings, query): 9 | texts = embeddings['texts'] 10 | docsearch = embeddings['docsearch'] 11 | docs = docsearch.similarity_search(query) 12 | chain = load_qa_with_sources_chain(OpenAI(temperature=0), chain_type="stuff") 13 | answer = chain({"input_documents": docs, "question": query}, return_only_outputs=True) 14 | sources_indexes = re.findall(r'\d+', answer['output_text'].splitlines()[-1]) 15 | sources_indexes = [int(i) for i in sources_indexes] 16 | sources_list = [] 17 | for idx in sources_indexes: 18 | sources_list.append(texts[idx]) 19 | 20 | # remove sources from answer 21 | answer_str = answer['output_text'].split("\nSOURCES:")[0] 22 | 23 | response = { 24 | 'answer': answer_str, 25 | 'sources': sources_list 26 | } 27 | 28 | # code to load embeddings 29 | return response 30 | -------------------------------------------------------------------------------- /app/templates/ask.html: -------------------------------------------------------------------------------- 1 | {% extends 'base.html' %} 2 | 3 | {% block body %} 4 | 5 |
6 |

Document

7 |

{{ display_format(document) }}

8 | 9 |

Question

10 | 11 |
12 |
13 | 14 |
15 | 16 |
17 | 18 |
19 | 20 | 23 | 24 |
25 |
26 | 27 | 49 | 50 | 51 | {% endblock %} -------------------------------------------------------------------------------- /app/templates/base.html: -------------------------------------------------------------------------------- 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Question Answer Template 9 | 10 | 11 | 12 | 14 | 15 | 16 | 17 | 18 | 27 | 28 | 29 | 30 |
31 |
32 |
33 |

34 | 38 |
39 |
40 | 41 |
42 |
43 | {% block body %}{% endblock %} 44 |
45 |
46 | 47 | 49 |
50 | 51 | 52 | 55 | 56 | -------------------------------------------------------------------------------- /app/controller/controller.py: -------------------------------------------------------------------------------- 1 | import os 2 | 3 | from flask import Flask, request, render_template 4 | 5 | from app.models.answer_retriever import AnswerRetriever 6 | import logging 7 | 8 | from app.models.embeddings_service import EmbeddingsService 9 | 10 | app_path = os.getcwd() + '/app' 11 | templates_path = app_path + '/templates' 12 | static_path = app_path + '/static' 13 | print('templates_path: ' + templates_path) 14 | app = Flask(__name__, template_folder=templates_path, static_folder=static_path) 15 | 16 | 17 | @app.route("/") 18 | def root(): 19 | documents = os.listdir(os.getcwd() + '/app/assets/raw') 20 | print('documents: ' + str(documents)) 21 | return render_template('documents.html', documents=documents) 22 | 23 | 24 | @app.route("/document/") 25 | def get_answer(param): 26 | document = param 27 | return render_template('ask.html', document=document) 28 | 29 | 30 | @app.route("/submit_question", methods=['GET', 'POST']) 31 | def submit_question(): 32 | query = request.form['question'] 33 | document = request.form['document'] 34 | embeddings = EmbeddingsService.load_embeddings(document) 35 | results = AnswerRetriever().get_answer(embeddings, query) 36 | answer = results['answer'] 37 | sources = results['sources'] 38 | response = {'query': query, 'answer': answer, 'sources': sources, 'document': document} 39 | logging.info('document: ' + document + ', query: ' + query + ', answer: ' + answer) 40 | return render_template('answer.html', response=response) 41 | 42 | 43 | @app.context_processor 44 | def utility_processor(): 45 | def display_format(string): 46 | # Split the string by "_" 47 | words = string.split("_") 48 | # Capitalize the first letter of each word 49 | words = [word.capitalize() for word in words] 50 | # Join the words with space 51 | display_str = " ".join(words) 52 | # remove file extension 53 | display_str = display_str.split(".")[0] 54 | return display_str 55 | return dict(display_format=display_format) 56 | -------------------------------------------------------------------------------- /README.md: -------------------------------------------------------------------------------- 1 | # AI Question Answer Web Template 2 | 3 | A Python Flask web app template for doing AI Question and Answering with sources using Langchain. Optimized for minimal developer 4 | setup by running in a Docker container, and provides a framework for adding 5 | and embedding documents. Already contains several embedded documents preloaded and more can 6 | be added easily using a script. 7 | 8 | 9 | # Demo 10 | 11 | ![Demo AI Template](https://raw.githubusercontent.com/pgrennin/ai_question_answer_web_template/main/demo-ai-template2.gif) 12 | 13 | 14 | 15 | 16 | # Quick Start 17 | 18 | 1) To get started, clone this repository. 19 | 20 | `git clone https://github.com/pgrennin/ai_question_answer_web_template.git` 21 | 22 | 2) Add your OPENAI API KEY to app/config/config.py 23 | 24 | 3) Run the following command to build the Docker image and run the container. (This script requires Docker. Please 25 | install if you don't have it already.) 26 | 27 | `bash run.dev.sh` 28 | 29 | 30 | 4) Go to http://localhost:8000/ to see the application and run questions and answers on one of the documents already 31 | pre-created. 32 | 33 | 34 | # Upload your own document for doing question and answers (optional) 35 | 36 | Create embeddings on a document of your choice by doing the following: 37 | 38 | 1) Create a `.txt` file and place in the app/assets/raw directory. 39 | 40 | example: 41 | 42 | `curl https://www.gutenberg.org/cache/epub/3755/pg3755.txt -o app/assets/raw/thomas_paine_common_sense.txt` 43 | 44 | 2) Run the create embeddings script 45 | 46 | `bash create_embeddings.sh` 47 | 48 | **What this script does.** 49 | This will create new embeddings for all files in app/assets/raw. If an embedding file has already been created for a 50 | file, it will not be recreated. It checks if embedding was already created in /app/assets/embeddings. 51 | 52 | 3) Go to http://localhost:8000/ view your document and ask questions on it. 53 | 54 | ## Notes 55 | 56 | * Please feel free to open a PR if you have any suggestions or improvements. 57 | * Only tested with txt documents but could be extended to other file types. 58 | * Errors may occur uploading very large documents. 59 | * After starting this project I found Langchain has already created something similar with a chatbot 60 | template. (https://blog.langchain.dev/langchain-chat/) 61 | 62 | ### The tools used in this project are: 63 | 64 | - Python 3.11 65 | - LangChain 66 | - Flask 67 | - OpenAI API 68 | - FAISS 69 | - Docker 70 | - Bootstrap 71 | -------------------------------------------------------------------------------- /app/static/styles.css: -------------------------------------------------------------------------------- 1 | .bd-placeholder-img { 2 | font-size: 1.125rem; 3 | text-anchor: middle; 4 | -webkit-user-select: none; 5 | -moz-user-select: none; 6 | user-select: none; 7 | } 8 | 9 | @media (min-width: 768px) { 10 | .bd-placeholder-img-lg { 11 | font-size: 3.5rem; 12 | } 13 | } 14 | 15 | .b-example-divider { 16 | height: 3rem; 17 | background-color: rgba(0, 0, 0, .1); 18 | border: solid rgba(0, 0, 0, .15); 19 | border-width: 1px 0; 20 | box-shadow: inset 0 .5em 1.5em rgba(0, 0, 0, .1), inset 0 .125em .5em rgba(0, 0, 0, .15); 21 | } 22 | 23 | .b-example-vr { 24 | flex-shrink: 0; 25 | width: 1.5rem; 26 | height: 100vh; 27 | } 28 | 29 | .bi { 30 | vertical-align: -.125em; 31 | fill: currentColor; 32 | } 33 | 34 | .nav-scroller { 35 | position: relative; 36 | z-index: 2; 37 | height: 2.75rem; 38 | overflow-y: hidden; 39 | } 40 | 41 | .nav-scroller .nav { 42 | display: flex; 43 | flex-wrap: nowrap; 44 | padding-bottom: 1rem; 45 | margin-top: -1px; 46 | overflow-x: auto; 47 | text-align: center; 48 | white-space: nowrap; 49 | -webkit-overflow-scrolling: touch; 50 | } 51 | 52 | /* 53 | * Globals 54 | */ 55 | 56 | 57 | /* Custom default button */ 58 | .btn-light, 59 | .btn-light:hover, 60 | .btn-light:focus { 61 | color: #333; 62 | text-shadow: none; /* Prevent inheritance from `body` */ 63 | } 64 | 65 | 66 | /* 67 | * Base structure 68 | */ 69 | 70 | body { 71 | text-shadow: 0 .05rem .1rem rgba(0, 0, 0, .5); 72 | box-shadow: inset 0 0 5rem rgba(0, 0, 0, .5); 73 | } 74 | 75 | .cover-container { 76 | max-width: 42em; 77 | } 78 | 79 | 80 | /* 81 | * Header 82 | */ 83 | 84 | .nav-masthead .nav-link { 85 | color: rgba(255, 255, 255, .5); 86 | border-bottom: .25rem solid transparent; 87 | } 88 | 89 | .nav-masthead .nav-link:hover, 90 | .nav-masthead .nav-link:focus { 91 | border-bottom-color: rgba(255, 255, 255, .25); 92 | } 93 | 94 | .nav-masthead .nav-link + .nav-link { 95 | margin-left: 1rem; 96 | } 97 | 98 | .nav-masthead .active { 99 | color: #fff; 100 | border-bottom-color: #fff; 101 | } 102 | 103 | .center-div { 104 | width: 50%; /* set the width of the div */ 105 | height: 50%; /* set the height of the div */ 106 | position: absolute; /* set the position of the div */ 107 | top: 50%; /* center the div vertically */ 108 | left: 50%; /* center the div horizontally */ 109 | transform: translate(-50%, -50%); /* adjust the position */ 110 | } 111 | 112 | 113 | 114 | -------------------------------------------------------------------------------- /app/models/embeddings_service.py: -------------------------------------------------------------------------------- 1 | import os 2 | import pickle 3 | 4 | from langchain import FAISS 5 | from langchain.embeddings import OpenAIEmbeddings 6 | from langchain.text_splitter import CharacterTextSplitter 7 | 8 | from app.config.config import OPEN_AI_API_KEY 9 | 10 | 11 | class EmbeddingsService: 12 | CURRENT_DIRECTORY = os.path.dirname(__file__) 13 | FILE_PATH_ASSETS = os.path.join(CURRENT_DIRECTORY, "../assets") 14 | EMBEDDINGS_PATH = FILE_PATH_ASSETS + '/embeddings/' 15 | 16 | def get_embedded_file_path(document_name): 17 | return EmbeddingsService.EMBEDDINGS_PATH + '/' + document_name + '.embedding.pkl' 18 | 19 | def get_raw_file_path(document_name): 20 | return EmbeddingsService.FILE_PATH_ASSETS + '/raw/' + document_name 21 | 22 | @staticmethod 23 | def create_embeddings(file_name): 24 | if file_name == 'ALL': 25 | # iterate over all files in app/assets/raw, and create embeddings for each 26 | for file in os.listdir(EmbeddingsService.FILE_PATH_ASSETS + '/raw'): 27 | EmbeddingsService.create_embeddings_for_file(file) 28 | 29 | @staticmethod 30 | def create_embeddings_for_file(file_name): 31 | # check if embedding file already exists. It would exist in the folder app/assets/embeddings with filename + 32 | # .embedding.pkl. If it exists, then skip it. If it does not exist, then create it. 33 | embedded_file_path = EmbeddingsService.get_embedded_file_path(file_name) 34 | if os.path.exists(embedded_file_path): 35 | print('Embeddings file already exists. Skipping...' + embedded_file_path) 36 | return 37 | else: 38 | raw_file_path = EmbeddingsService.get_raw_file_path(file_name) 39 | print('Creating embeddings for file: ' + raw_file_path + ' and saving to: ' + embedded_file_path) 40 | EmbeddingsService.create_embeddings_and_save(raw_file_path, embedded_file_path) 41 | print('Embeddings created successfully for: ' + embedded_file_path) 42 | return 43 | 44 | @staticmethod 45 | def create_embeddings_and_save(raw_file_path, embedded_file_path): 46 | print('Creating embeddings...') 47 | os.environ["OPENAI_API_KEY"] = OPEN_AI_API_KEY 48 | with open(raw_file_path) as f: 49 | file_to_split = f.read() 50 | text_splitter = CharacterTextSplitter(chunk_size=1000, chunk_overlap=0) 51 | texts = text_splitter.split_text(file_to_split) 52 | embeddings = OpenAIEmbeddings() 53 | 54 | # Vector store. Object which stores the embeddings and allows for fast retrieval. 55 | docsearch = FAISS.from_texts(texts, embeddings, metadatas=[{"source": i} for i in range(len(texts))]) 56 | 57 | v = [docsearch, texts] 58 | 59 | # save to pickle 60 | with open(embedded_file_path, 'wb') as f: 61 | pickle.dump(v, f) 62 | 63 | @staticmethod 64 | def load_embeddings(document_name): 65 | os.environ["OPENAI_API_KEY"] = OPEN_AI_API_KEY 66 | embedded_file_path = EmbeddingsService.get_embedded_file_path(document_name) 67 | if os.path.exists(embedded_file_path): 68 | print('Loading embeddings from file...') 69 | with open(embedded_file_path, 'rb') as f: 70 | docsearch, texts = pickle.load(f) 71 | else: 72 | raise Exception('Embeddings file does not exist. Please create embeddings file first.') 73 | return {'docsearch': docsearch, 'texts': texts} 74 | -------------------------------------------------------------------------------- /app/assets/raw/declaration_of_independence.txt: -------------------------------------------------------------------------------- 1 | Declaration of Independence: A Transcription 2 | 3 | 4 | Note: The following text is a transcription of the Stone Engraving of the parchment Declaration of Independence (the document on display in the Rotunda at the National Archives Museum.) The spelling and punctuation reflects the original. 5 | 6 | In Congress, July 4, 1776 7 | 8 | The unanimous Declaration of the thirteen united States of America, When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation. 9 | 10 | We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.--Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world. 11 | 12 | He has refused his Assent to Laws, the most wholesome and necessary for the public good. 13 | 14 | He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them. 15 | 16 | He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only. 17 | 18 | He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures. 19 | 20 | He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people. 21 | 22 | He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the Legislative powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within. 23 | 24 | He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands. 25 | 26 | He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers. 27 | 28 | He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries. 29 | 30 | He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance. 31 | 32 | He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures. 33 | 34 | He has affected to render the Military independent of and superior to the Civil power. 35 | 36 | He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation: 37 | 38 | For Quartering large bodies of armed troops among us: 39 | 40 | For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States: 41 | 42 | For cutting off our Trade with all parts of the world: 43 | 44 | For imposing Taxes on us without our Consent: 45 | 46 | For depriving us in many cases, of the benefits of Trial by Jury: 47 | 48 | For transporting us beyond Seas to be tried for pretended offences 49 | 50 | For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies: 51 | 52 | For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments: 53 | 54 | For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever. 55 | 56 | He has abdicated Government here, by declaring us out of his Protection and waging War against us. 57 | 58 | He has plundered our seas, ravaged our Coasts, burnt our towns, and destroyed the lives of our people. 59 | 60 | He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny, already begun with circumstances of Cruelty & perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation. 61 | 62 | He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands. 63 | 64 | He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages, whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions. 65 | 66 | In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. 67 | 68 | Nor have We been wanting in attentions to our Brittish brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends. 69 | 70 | We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor. 71 | 72 | Georgia 73 | 74 | Button Gwinnett 75 | 76 | Lyman Hall 77 | 78 | George Walton 79 | 80 | 81 | 82 | North Carolina 83 | 84 | William Hooper 85 | 86 | Joseph Hewes 87 | 88 | John Penn 89 | 90 | 91 | 92 | South Carolina 93 | 94 | Edward Rutledge 95 | 96 | Thomas Heyward, Jr. 97 | 98 | Thomas Lynch, Jr. 99 | 100 | Arthur Middleton 101 | 102 | 103 | 104 | Massachusetts 105 | 106 | John Hancock 107 | 108 | Maryland 109 | 110 | Samuel Chase 111 | 112 | William Paca 113 | 114 | Thomas Stone 115 | 116 | Charles Carroll of Carrollton 117 | 118 | 119 | 120 | Virginia 121 | 122 | George Wythe 123 | 124 | Richard Henry Lee 125 | 126 | Thomas Jefferson 127 | 128 | Benjamin Harrison 129 | 130 | Thomas Nelson, Jr. 131 | 132 | Francis Lightfoot Lee 133 | 134 | Carter Braxton 135 | 136 | 137 | 138 | Pennsylvania 139 | 140 | Robert Morris 141 | 142 | Benjamin Rush 143 | 144 | Benjamin Franklin 145 | 146 | John Morton 147 | 148 | George Clymer 149 | 150 | James Smith 151 | 152 | George Taylor 153 | 154 | James Wilson 155 | 156 | George Ross 157 | 158 | Delaware 159 | 160 | Caesar Rodney 161 | 162 | George Read 163 | 164 | Thomas McKean 165 | 166 | 167 | 168 | New York 169 | 170 | William Floyd 171 | 172 | Philip Livingston 173 | 174 | Francis Lewis 175 | 176 | Lewis Morris 177 | 178 | 179 | 180 | New Jersey 181 | 182 | Richard Stockton 183 | 184 | John Witherspoon 185 | 186 | Francis Hopkinson 187 | 188 | John Hart 189 | 190 | Abraham Clark 191 | 192 | 193 | 194 | New Hampshire 195 | 196 | Josiah Bartlett 197 | 198 | William Whipple 199 | 200 | 201 | 202 | Massachusetts 203 | 204 | Samuel Adams 205 | 206 | John Adams 207 | 208 | Robert Treat Paine 209 | 210 | Elbridge Gerry 211 | 212 | 213 | 214 | Rhode Island 215 | 216 | Stephen Hopkins 217 | 218 | William Ellery 219 | 220 | 221 | 222 | Connecticut 223 | 224 | Roger Sherman 225 | 226 | Samuel Huntington 227 | 228 | William Williams 229 | 230 | Oliver Wolcott 231 | 232 | 233 | 234 | New Hampshire 235 | 236 | Matthew Thornton -------------------------------------------------------------------------------- /app/assets/raw/constitution_of_the_united_states.txt: -------------------------------------------------------------------------------- 1 | The Constitution of the United States: A Transcription 2 | 3 | 4 | Note: The following text is a transcription of the Constitution as it was inscribed by Jacob Shallus on parchment (the document on display in the Rotunda at the National Archives Museum.) The spelling and punctuation reflect the original. 5 | 6 | We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America. 7 | 8 | Article. I. 9 | Section. 1. 10 | All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives. 11 | 12 | Section. 2. 13 | The House of Representatives shall be composed of Members chosen every second Year by the People of the several States, and the Electors in each State shall have the Qualifications requisite for Electors of the most numerous Branch of the State Legislature. 14 | 15 | No Person shall be a Representative who shall not have attained to the Age of twenty five Years, and been seven Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State in which he shall be chosen. 16 | 17 | Representatives and direct Taxes shall be apportioned among the several States which may be included within this Union, according to their respective Numbers, which shall be determined by adding to the whole Number of free Persons, including those bound to Service for a Term of Years, and excluding Indians not taxed, three fifths of all other Persons. The actual Enumeration shall be made within three Years after the first Meeting of the Congress of the United States, and within every subsequent Term of ten Years, in such Manner as they shall by Law direct. The Number of Representatives shall not exceed one for every thirty Thousand, but each State shall have at Least one Representative; and until such enumeration shall be made, the State of New Hampshire shall be entitled to chuse three, Massachusetts eight, Rhode-Island and Providence Plantations one, Connecticut five, New-York six, New Jersey four, Pennsylvania eight, Delaware one, Maryland six, Virginia ten, North Carolina five, South Carolina five, and Georgia three. 18 | 19 | When vacancies happen in the Representation from any State, the Executive Authority thereof shall issue Writs of Election to fill such Vacancies. 20 | 21 | The House of Representatives shall chuse their Speaker and other Officers; and shall have the sole Power of Impeachment. 22 | 23 | Section. 3. 24 | The Senate of the United States shall be composed of two Senators from each State, chosen by the Legislature thereof, for six Years; and each Senator shall have one Vote. 25 | 26 | Immediately after they shall be assembled in Consequence of the first Election, they shall be divided as equally as may be into three Classes. The Seats of the Senators of the first Class shall be vacated at the Expiration of the second Year, of the second Class at the Expiration of the fourth Year, and of the third Class at the Expiration of the sixth Year, so that one third may be chosen every second Year; and if Vacancies happen by Resignation, or otherwise, during the Recess of the Legislature of any State, the Executive thereof may make temporary Appointments until the next Meeting of the Legislature, which shall then fill such Vacancies. 27 | 28 | No Person shall be a Senator who shall not have attained to the Age of thirty Years, and been nine Years a Citizen of the United States, and who shall not, when elected, be an Inhabitant of that State for which he shall be chosen. 29 | 30 | The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided. 31 | 32 | The Senate shall chuse their other Officers, and also a President pro tempore, in the Absence of the Vice President, or when he shall exercise the Office of President of the United States. 33 | 34 | The Senate shall have the sole Power to try all Impeachments. When sitting for that Purpose, they shall be on Oath or Affirmation. When the President of the United States is tried, the Chief Justice shall preside: And no Person shall be convicted without the Concurrence of two thirds of the Members present. 35 | 36 | Judgment in Cases of Impeachment shall not extend further than to removal from Office, and disqualification to hold and enjoy any Office of honor, Trust or Profit under the United States: but the Party convicted shall nevertheless be liable and subject to Indictment, Trial, Judgment and Punishment, according to Law. 37 | 38 | Section. 4. 39 | The Times, Places and Manner of holding Elections for Senators and Representatives, shall be prescribed in each State by the Legislature thereof; but the Congress may at any time by Law make or alter such Regulations, except as to the Places of chusing Senators. 40 | 41 | The Congress shall assemble at least once in every Year, and such Meeting shall be on the first Monday in December, unless they shall by Law appoint a different Day. 42 | 43 | Section. 5. 44 | Each House shall be the Judge of the Elections, Returns and Qualifications of its own Members, and a Majority of each shall constitute a Quorum to do Business; but a smaller Number may adjourn from day to day, and may be authorized to compel the Attendance of absent Members, in such Manner, and under such Penalties as each House may provide. 45 | 46 | Each House may determine the Rules of its Proceedings, punish its Members for disorderly Behaviour, and, with the Concurrence of two thirds, expel a Member. 47 | 48 | Each House shall keep a Journal of its Proceedings, and from time to time publish the same, excepting such Parts as may in their Judgment require Secrecy; and the Yeas and Nays of the Members of either House on any question shall, at the Desire of one fifth of those Present, be entered on the Journal. 49 | 50 | Neither House, during the Session of Congress, shall, without the Consent of the other, adjourn for more than three days, nor to any other Place than that in which the two Houses shall be sitting. 51 | 52 | Section. 6. 53 | The Senators and Representatives shall receive a Compensation for their Services, to be ascertained by Law, and paid out of the Treasury of the United States. They shall in all Cases, except Treason, Felony and Breach of the Peace, be privileged from Arrest during their Attendance at the Session of their respective Houses, and in going to and returning from the same; and for any Speech or Debate in either House, they shall not be questioned in any other Place. 54 | 55 | No Senator or Representative shall, during the Time for which he was elected, be appointed to any civil Office under the Authority of the United States, which shall have been created, or the Emoluments whereof shall have been encreased during such time; and no Person holding any Office under the United States, shall be a Member of either House during his Continuance in Office. 56 | 57 | Section. 7. 58 | All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills. 59 | 60 | Every Bill which shall have passed the House of Representatives and the Senate, shall, before it become a Law, be presented to the President of the United States; If he approve he shall sign it, but if not he shall return it, with his Objections to that House in which it shall have originated, who shall enter the Objections at large on their Journal, and proceed to reconsider it. If after such Reconsideration two thirds of that House shall agree to pass the Bill, it shall be sent, together with the Objections, to the other House, by which it shall likewise be reconsidered, and if approved by two thirds of that House, it shall become a Law. But in all such Cases the Votes of both Houses shall be determined by yeas and Nays, and the Names of the Persons voting for and against the Bill shall be entered on the Journal of each House respectively. If any Bill shall not be returned by the President within ten Days (Sundays excepted) after it shall have been presented to him, the Same shall be a Law, in like Manner as if he had signed it, unless the Congress by their Adjournment prevent its Return, in which Case it shall not be a Law. 61 | 62 | Every Order, Resolution, or Vote to which the Concurrence of the Senate and House of Representatives may be necessary (except on a question of Adjournment) shall be presented to the President of the United States; and before the Same shall take Effect, shall be approved by him, or being disapproved by him, shall be repassed by two thirds of the Senate and House of Representatives, according to the Rules and Limitations prescribed in the Case of a Bill. 63 | 64 | Section. 8. 65 | The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; 66 | 67 | To borrow Money on the credit of the United States; 68 | 69 | To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; 70 | 71 | To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; 72 | 73 | To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; 74 | 75 | To provide for the Punishment of counterfeiting the Securities and current Coin of the United States; 76 | 77 | To establish Post Offices and post Roads; 78 | 79 | To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries; 80 | 81 | To constitute Tribunals inferior to the supreme Court; 82 | 83 | To define and punish Piracies and Felonies committed on the high Seas, and Offences against the Law of Nations; 84 | 85 | To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water; 86 | 87 | To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years; 88 | 89 | To provide and maintain a Navy; 90 | 91 | To make Rules for the Government and Regulation of the land and naval Forces; 92 | 93 | To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions; 94 | 95 | To provide for organizing, arming, and disciplining, the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress; 96 | 97 | To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the Acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings;—And 98 | 99 | To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof. 100 | 101 | Section. 9. 102 | The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a Tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person. 103 | 104 | The Privilege of the Writ of Habeas Corpus shall not be suspended, unless when in Cases of Rebellion or Invasion the public Safety may require it. 105 | 106 | No Bill of Attainder or ex post facto Law shall be passed. 107 | 108 | No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census or enumeration herein before directed to be taken. 109 | 110 | No Tax or Duty shall be laid on Articles exported from any State. 111 | 112 | No Preference shall be given by any Regulation of Commerce or Revenue to the Ports of one State over those of another: nor shall Vessels bound to, or from, one State, be obliged to enter, clear, or pay Duties in another. 113 | 114 | No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time. 115 | 116 | No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State. 117 | 118 | Section. 10. 119 | No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. 120 | 121 | No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing it's inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Controul of the Congress. 122 | 123 | No State shall, without the Consent of Congress, lay any Duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay. 124 | 125 | Article. II. 126 | Section. 1. 127 | The executive Power shall be vested in a President of the United States of America. He shall hold his Office during the Term of four Years, and, together with the Vice President, chosen for the same Term, be elected, as follows 128 | 129 | Each State shall appoint, in such Manner as the Legislature thereof may direct, a Number of Electors, equal to the whole Number of Senators and Representatives to which the State may be entitled in the Congress: but no Senator or Representative, or Person holding an Office of Trust or Profit under the United States, shall be appointed an Elector. 130 | 131 | The Electors shall meet in their respective States, and vote by Ballot for two Persons, of whom one at least shall not be an Inhabitant of the same State with themselves. And they shall make a List of all the Persons voted for, and of the Number of Votes for each; which List they shall sign and certify, and transmit sealed to the Seat of the Government of the United States, directed to the President of the Senate. The President of the Senate shall, in the Presence of the Senate and House of Representatives, open all the Certificates, and the Votes shall then be counted. The Person having the greatest Number of Votes shall be the President, if such Number be a Majority of the whole Number of Electors appointed; and if there be more than one who have such Majority, and have an equal Number of Votes, then the House of Representatives shall immediately chuse by Ballot one of them for President; and if no Person have a Majority, then from the five highest on the List the said House shall in like Manner chuse the President. But in chusing the President, the Votes shall be taken by States, the Representation from each State having one Vote; A quorum for this Purpose shall consist of a Member or Members from two thirds of the States, and a Majority of all the States shall be necessary to a Choice. In every Case, after the Choice of the President, the Person having the greatest Number of Votes of the Electors shall be the Vice President. But if there should remain two or more who have equal Votes, the Senate shall chuse from them by Ballot the Vice President. 132 | 133 | The Congress may determine the Time of chusing the Electors, and the Day on which they shall give their Votes; which Day shall be the same throughout the United States. 134 | 135 | No Person except a natural born Citizen, or a Citizen of the United States, at the time of the Adoption of this Constitution, shall be eligible to the Office of President; neither shall any Person be eligible to that Office who shall not have attained to the Age of thirty five Years, and been fourteen Years a Resident within the United States. 136 | 137 | In Case of the Removal of the President from Office, or of his Death, Resignation, or Inability to discharge the Powers and Duties of the said Office, the Same shall devolve on the Vice President, and the Congress may by Law provide for the Case of Removal, Death, Resignation or Inability, both of the President and Vice President, declaring what Officer shall then act as President, and such Officer shall act accordingly, until the Disability be removed, or a President shall be elected. 138 | 139 | The President shall, at stated Times, receive for his Services, a Compensation, which shall neither be encreased nor diminished during the Period for which he shall have been elected, and he shall not receive within that Period any other Emolument from the United States, or any of them. 140 | 141 | Before he enter on the Execution of his Office, he shall take the following Oath or Affirmation:—"I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States." 142 | 143 | Section. 2. 144 | The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States; he may require the Opinion, in writing, of the principal Officer in each of the executive Departments, upon any Subject relating to the Duties of their respective Offices, and he shall have Power to grant Reprieves and Pardons for Offences against the United States, except in Cases of Impeachment. 145 | 146 | He shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur; and he shall nominate, and by and with the Advice and Consent of the Senate, shall appoint Ambassadors, other public Ministers and Consuls, Judges of the supreme Court, and all other Officers of the United States, whose Appointments are not herein otherwise provided for, and which shall be established by Law: but the Congress may by Law vest the Appointment of such inferior Officers, as they think proper, in the President alone, in the Courts of Law, or in the Heads of Departments. 147 | 148 | The President shall have Power to fill up all Vacancies that may happen during the Recess of the Senate, by granting Commissions which shall expire at the End of their next Session. 149 | 150 | Section. 3. 151 | He shall from time to time give to the Congress Information of the State of the Union, and recommend to their Consideration such Measures as he shall judge necessary and expedient; he may, on extraordinary Occasions, convene both Houses, or either of them, and in Case of Disagreement between them, with Respect to the Time of Adjournment, he may adjourn them to such Time as he shall think proper; he shall receive Ambassadors and other public Ministers; he shall take Care that the Laws be faithfully executed, and shall Commission all the Officers of the United States. 152 | 153 | Section. 4. 154 | The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors. 155 | 156 | Article. III. 157 | Section. 1. 158 | The judicial Power of the United States, shall be vested in one supreme Court, and in such inferior Courts as the Congress may from time to time ordain and establish. The Judges, both of the supreme and inferior Courts, shall hold their Offices during good Behaviour, and shall, at stated Times, receive for their Services, a Compensation, which shall not be diminished during their Continuance in Office. 159 | 160 | Section. 2. 161 | The judicial Power shall extend to all Cases, in Law and Equity, arising under this Constitution, the Laws of the United States, and Treaties made, or which shall be made, under their Authority;—to all Cases affecting Ambassadors, other public Ministers and Consuls;—to all Cases of admiralty and maritime Jurisdiction;—to Controversies to which the United States shall be a Party;—to Controversies between two or more States;— between a State and Citizens of another State,—between Citizens of different States,—between Citizens of the same State claiming Lands under Grants of different States, and between a State, or the Citizens thereof, and foreign States, Citizens or Subjects. 162 | 163 | In all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party, the supreme Court shall have original Jurisdiction. In all the other Cases before mentioned, the supreme Court shall have appellate Jurisdiction, both as to Law and Fact, with such Exceptions, and under such Regulations as the Congress shall make. 164 | 165 | The Trial of all Crimes, except in Cases of Impeachment, shall be by Jury; and such Trial shall be held in the State where the said Crimes shall have been committed; but when not committed within any State, the Trial shall be at such Place or Places as the Congress may by Law have directed. 166 | 167 | Section. 3. 168 | Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort. No Person shall be convicted of Treason unless on the Testimony of two Witnesses to the same overt Act, or on Confession in open Court. 169 | 170 | The Congress shall have Power to declare the Punishment of Treason, but no Attainder of Treason shall work Corruption of Blood, or Forfeiture except during the Life of the Person attainted. 171 | 172 | Article. IV. 173 | Section. 1. 174 | Full Faith and Credit shall be given in each State to the public Acts, Records, and judicial Proceedings of every other State. And the Congress may by general Laws prescribe the Manner in which such Acts, Records and Proceedings shall be proved, and the Effect thereof. 175 | 176 | Section. 2. 177 | The Citizens of each State shall be entitled to all Privileges and Immunities of Citizens in the several States. 178 | 179 | A Person charged in any State with Treason, Felony, or other Crime, who shall flee from Justice, and be found in another State, shall on Demand of the executive Authority of the State from which he fled, be delivered up, to be removed to the State having Jurisdiction of the Crime. 180 | 181 | No Person held to Service or Labour in one State, under the Laws thereof, escaping into another, shall, in Consequence of any Law or Regulation therein, be discharged from such Service or Labour, but shall be delivered up on Claim of the Party to whom such Service or Labour may be due. 182 | 183 | Section. 3. 184 | New States may be admitted by the Congress into this Union; but no new State shall be formed or erected within the Jurisdiction of any other State; nor any State be formed by the Junction of two or more States, or Parts of States, without the Consent of the Legislatures of the States concerned as well as of the Congress. 185 | 186 | The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States; and nothing in this Constitution shall be so construed as to Prejudice any Claims of the United States, or of any particular State. 187 | 188 | Section. 4. 189 | The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence. 190 | 191 | Article. V. 192 | The Congress, whenever two thirds of both Houses shall deem it necessary, shall propose Amendments to this Constitution, or, on the Application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, which, in either Case, shall be valid to all Intents and Purposes, as Part of this Constitution, when ratified by the Legislatures of three fourths of the several States, or by Conventions in three fourths thereof, as the one or the other Mode of Ratification may be proposed by the Congress; Provided that no Amendment which may be made prior to the Year One thousand eight hundred and eight shall in any Manner affect the first and fourth Clauses in the Ninth Section of the first Article; and that no State, without its Consent, shall be deprived of its equal Suffrage in the Senate. 193 | 194 | Article. VI. 195 | All Debts contracted and Engagements entered into, before the Adoption of this Constitution, shall be as valid against the United States under this Constitution, as under the Confederation. 196 | 197 | This Constitution, and the Laws of the United States which shall be made in Pursuance thereof; and all Treaties made, or which shall be made, under the Authority of the United States, shall be the supreme Law of the Land; and the Judges in every State shall be bound thereby, any Thing in the Constitution or Laws of any State to the Contrary notwithstanding. 198 | 199 | The Senators and Representatives before mentioned, and the Members of the several State Legislatures, and all executive and judicial Officers, both of the United States and of the several States, shall be bound by Oath or Affirmation, to support this Constitution; but no religious Test shall ever be required as a Qualification to any Office or public Trust under the United States. 200 | 201 | Article. VII. 202 | The Ratification of the Conventions of nine States, shall be sufficient for the Establishment of this Constitution between the States so ratifying the Same. 203 | 204 | The Word, "the," being interlined between the seventh and eighth Lines of the first Page, The Word "Thirty" being partly written on an Erazure in the fifteenth Line of the first Page, The Words "is tried" being interlined between the thirty second and thirty third Lines of the first Page and the Word "the" being interlined between the forty third and forty fourth Lines of the second Page. 205 | 206 | Attest William Jackson Secretary 207 | 208 | done in Convention by the Unanimous Consent of the States present the Seventeenth Day of September in the Year of our Lord one thousand seven hundred and Eighty seven and of the Independance of the United States of America the Twelfth In witness whereof We have hereunto subscribed our Names, -------------------------------------------------------------------------------- /app/assets/raw/state_of_the_union_speech.txt: -------------------------------------------------------------------------------- 1 | By POLITICO STAFF 2 | 3 | 03/01/2022 09:26 PM EST 4 | 5 | Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court. My fellow Americans. 6 | 7 | Last year COVID-19 kept us apart. This year we are finally together again. 8 | 9 | Tonight, we meet as Democrats Republicans and Independents. But most importantly as Americans. 10 | 11 | With a duty to one another to the American people to the Constitution. 12 | 13 | And with an unwavering resolve that freedom will always triumph over tyranny. 14 | 15 | Six days ago, Russia’s Vladimir Putin sought to shake the foundations of the free world thinking he could make it bend to his menacing ways. But he badly miscalculated. 16 | 17 | He thought he could roll into Ukraine and the world would roll over. Instead he met a wall of strength he never imagined. 18 | 19 | He met the Ukrainian people. 20 | 21 | Biden condemns Putin in scathing State of the Union speech, in 180 seconds 22 | President Joe Biden condemned Russian president Vladimir Putin's attack on Ukraine, promising unity with Europe against Russia. 23 | 24 | SharePlay Video 25 | From President Zelenskyy to every Ukrainian, their fearlessness, their courage, their determination, inspires the world. 26 | 27 | Groups of citizens blocking tanks with their bodies. Everyone from students to retirees teachers turned soldiers defending their homeland. 28 | 29 | In this struggle as President Zelenskyy said in his speech to the European Parliament “Light will win over darkness.” The Ukrainian Ambassador to the United States is here tonight. 30 | 31 | Let each of us here tonight in this Chamber send an unmistakable signal to Ukraine and to the world. 32 | 33 | Please rise if you are able and show that, Yes, we the United States of America stand with the Ukrainian people. 34 | 35 | Throughout our history we’ve learned this lesson when dictators do not pay a price for their aggression they cause more chaos. 36 | 37 | They keep moving. 38 | 39 | And the costs and the threats to America and the world keep rising. 40 | 41 | That’s why the NATO Alliance was created to secure peace and stability in Europe after World War 2. 42 | 43 | The United States is a member along with 29 other nations. 44 | 45 | It matters. American diplomacy matters. American resolve matters. 46 | 47 | Putin’s latest attack on Ukraine was premeditated and unprovoked. 48 | 49 | He rejected repeated efforts at diplomacy. 50 | 51 | He thought the West and NATO wouldn’t respond. And he thought he could divide us at home. Putin was wrong. We were ready. Here is what we did. 52 | 53 | We prepared extensively and carefully. 54 | 55 | We spent months building a coalition of other freedom-loving nations from Europe and the Americas to Asia and Africa to confront Putin. 56 | 57 | I spent countless hours unifying our European allies. We shared with the world in advance what we knew Putin was planning and precisely how he would try to falsely justify his aggression. 58 | 59 | We countered Russia’s lies with truth. 60 | 61 | And now that he has acted the free world is holding him accountable. 62 | 63 | Along with twenty-seven members of the European Union including France, Germany, Italy, as well as countries like the United Kingdom, Canada, Japan, Korea, Australia, New Zealand, and many others, even Switzerland. 64 | 65 | We are inflicting pain on Russia and supporting the people of Ukraine. Putin is now isolated from the world more than ever. 66 | 67 | Together with our allies –we are right now enforcing powerful economic sanctions. 68 | 69 | We are cutting off Russia’s largest banks from the international financial system. 70 | 71 | Preventing Russia’s central bank from defending the Russian Ruble making Putin’s $630 Billion “war fund” worthless. 72 | 73 | We are choking off Russia’s access to technology that will sap its economic strength and weaken its military for years to come. 74 | 75 | Tonight I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime no more. 76 | 77 | The U.S. Department of Justice is assembling a dedicated task force to go after the crimes of Russian oligarchs. 78 | 79 | We are joining with our European allies to find and seize your yachts your luxury apartments your private jets. We are coming for your ill-begotten gains. 80 | 81 | And tonight I am announcing that we will join our allies in closing off American air space to all Russian flights – further isolating Russia – and adding an additional squeeze –on their economy. The Ruble has lost 30% of its value. 82 | 83 | The Russian stock market has lost 40% of its value and trading remains suspended. Russia’s economy is reeling and Putin alone is to blame. 84 | 85 | Together with our allies we are providing support to the Ukrainians in their fight for freedom. Military assistance. Economic assistance. Humanitarian assistance. 86 | 87 | We are giving more than $1 Billion in direct assistance to Ukraine. 88 | 89 | And we will continue to aid the Ukrainian people as they defend their country and to help ease their suffering. 90 | 91 | Let me be clear, our forces are not engaged and will not engage in conflict with Russian forces in Ukraine. 92 | 93 | Our forces are not going to Europe to fight in Ukraine, but to defend our NATO Allies – in the event that Putin decides to keep moving west. 94 | 95 | For that purpose we’ve mobilized American ground forces, air squadrons, and ship deployments to protect NATO countries including Poland, Romania, Latvia, Lithuania, and Estonia. 96 | 97 | As I have made crystal clear the United States and our Allies will defend every inch of territory of NATO countries with the full force of our collective power. 98 | 99 | And we remain clear-eyed. The Ukrainians are fighting back with pure courage. But the next few days weeks, months, will be hard on them. 100 | 101 | MOST READ 102 | 220230110-Blake-Hounshell-2013-Headshot-by-John-Shinkle-New.jpg 103 | In Remembrance of a Beloved and Very Online Journalist 104 | Next frontier in the abortion wars: Your local CVS 105 | GOP races to suggest Trump equivalency in Biden-linked classified docs 106 | Curious about George: House Republicans debate Santos’ fate 107 | Pepsi, Coke soda pricing targeted in new federal probe 108 | Putin has unleashed violence and chaos. But while he may make gains on the battlefield – he will pay a continuing high price over the long run. 109 | 110 | And a proud Ukrainian people, who have known 30 years of independence, have repeatedly shown that they will not tolerate anyone who tries to take their country backwards. 111 | 112 | To all Americans, I will be honest with you, as I’ve always promised. A Russian dictator, invading a foreign country, has costs around the world. 113 | 114 | And I’m taking robust action to make sure the pain of our sanctions is targeted at Russia’s economy. And I will use every tool at our disposal to protect American businesses and consumers. 115 | 116 | Tonight, I can announce that the United States has worked with 30 other countries to release 60 Million barrels of oil from reserves around the world. 117 | 118 | America will lead that effort, releasing 30 Million barrels from our own Strategic Petroleum Reserve. And we stand ready to do more if necessary, unified with our allies. 119 | 120 | These steps will help blunt gas prices here at home. And I know the news about what’s happening can seem alarming. 121 | 122 | But I want you to know that we are going to be okay. 123 | 124 | When the history of this era is written Putin’s war on Ukraine will have left Russia weaker and the rest of the world stronger. 125 | 126 | While it shouldn’t have taken something so terrible for people around the world to see what’s at stake now everyone sees it clearly. 127 | 128 | We see the unity among leaders of nations and a more unified Europe a more unified West. And we see unity among the people who are gathering in cities in large crowds around the world even in Russia to demonstrate their support for Ukraine. 129 | 130 | In the battle between democracy and autocracy, democracies are rising to the moment, and the world is clearly choosing the side of peace and security. 131 | 132 | This is a real test. It’s going to take time. So let us continue to draw inspiration from the iron will of the Ukrainian people. 133 | 134 | To our fellow Ukrainian Americans who forge a deep bond that connects our two nations we stand with you. 135 | 136 | Putin may circle Kyiv with tanks, but he will never gain the hearts and souls of the Ukrainian people. 137 | 138 | He will never extinguish their love of freedom. He will never weaken the resolve of the free world. 139 | 140 | We meet tonight in an America that has lived through two of the hardest years this nation has ever faced. 141 | 142 | The pandemic has been punishing. 143 | 144 | And so many families are living paycheck to paycheck, struggling to keep up with the rising cost of food, gas, housing, and so much more. 145 | 146 | I understand. 147 | 148 | I remember when my Dad had to leave our home in Scranton, Pennsylvania to find work. I grew up in a family where if the price of food went up, you felt it. 149 | 150 | That’s why one of the first things I did as President was fight to pass the American Rescue Plan. 151 | 152 | Because people were hurting. We needed to act, and we did. 153 | 154 | Few pieces of legislation have done more in a critical moment in our history to lift us out of crisis. 155 | 156 | It fueled our efforts to vaccinate the nation and combat COVID-19. It delivered immediate economic relief for tens of millions of Americans. 157 | 158 | Helped put food on their table, keep a roof over their heads, and cut the cost of health insurance. 159 | 160 | And as my Dad used to say, it gave people a little breathing room. 161 | 162 | And unlike the $2 Trillion tax cut passed in the previous administration that benefitted the top 1% of Americans, the American Rescue Plan helped working people—and left no one behind. 163 | 164 | And it worked. It created jobs. Lots of jobs. 165 | 166 | In fact—our economy created over 6.5 Million new jobs just last year, more jobs created in one year 167 | than ever before in the history of America. 168 | 169 | Our economy grew at a rate of 5.7% last year, the strongest growth in nearly 40 years, the first step in bringing fundamental change to an economy that hasn’t worked for the working people of this nation for too long. 170 | 171 | For the past 40 years we were told that if we gave tax breaks to those at the very top, the benefits would trickle down to everyone else. 172 | 173 | But that trickle-down theory led to weaker economic growth, lower wages, bigger deficits, and the widest gap between those at the top and everyone else in nearly a century. 174 | 175 | Vice President Harris and I ran for office with a new economic vision for America. 176 | 177 | Invest in America. Educate Americans. Grow the workforce. Build the economy from the bottom up 178 | and the middle out, not from the top down. 179 | 180 | Because we know that when the middle class grows, the poor have a ladder up and the wealthy do very well. 181 | 182 | America used to have the best roads, bridges, and airports on Earth. 183 | 184 | Now our infrastructure is ranked 13th in the world. 185 | 186 | We won’t be able to compete for the jobs of the 21st Century if we don’t fix that. 187 | 188 | That’s why it was so important to pass the Bipartisan Infrastructure Law—the most sweeping investment to rebuild America in history. 189 | 190 | This was a bipartisan effort, and I want to thank the members of both parties who worked to make it happen. 191 | 192 | We’re done talking about infrastructure weeks. 193 | 194 | We’re going to have an infrastructure decade. 195 | 196 | It is going to transform America and put us on a path to win the economic competition of the 21st Century that we face with the rest of the world—particularly with China. 197 | 198 | As I’ve told Xi Jinping, it is never a good bet to bet against the American people. 199 | 200 | We’ll create good jobs for millions of Americans, modernizing roads, airports, ports, and waterways all across America. 201 | 202 | And we’ll do it all to withstand the devastating effects of the climate crisis and promote environmental justice. 203 | 204 | We’ll build a national network of 500,000 electric vehicle charging stations, begin to replace poisonous lead pipes—so every child—and every American—has clean water to drink at home and at school, provide affordable high-speed internet for every American—urban, suburban, rural, and tribal communities. 205 | 206 | 4,000 projects have already been announced. 207 | 208 | And tonight, I’m announcing that this year we will start fixing over 65,000 miles of highway and 1,500 bridges in disrepair. 209 | 210 | When we use taxpayer dollars to rebuild America – we are going to Buy American: buy American products to support American jobs. 211 | 212 | The federal government spends about $600 Billion a year to keep the country safe and secure. 213 | 214 | There’s been a law on the books for almost a century 215 | to make sure taxpayers’ dollars support American jobs and businesses. 216 | 217 | Every Administration says they’ll do it, but we are actually doing it. 218 | 219 | We will buy American to make sure everything from the deck of an aircraft carrier to the steel on highway guardrails are made in America. 220 | 221 | But to compete for the best jobs of the future, we also need to level the playing field with China and other competitors. 222 | 223 | That’s why it is so important to pass the Bipartisan Innovation Act sitting in Congress that will make record investments in emerging technologies and American manufacturing. 224 | 225 | Let me give you one example of why it’s so important to pass it. 226 | 227 | If you travel 20 miles east of Columbus, Ohio, you’ll find 1,000 empty acres of land. 228 | 229 | It won’t look like much, but if you stop and look closely, you’ll see a “Field of dreams,” the ground on which America’s future will be built. 230 | 231 | This is where Intel, the American company that helped build Silicon Valley, is going to build its $20 billion semiconductor “mega site”. 232 | 233 | Up to eight state-of-the-art factories in one place. 10,000 new good-paying jobs. 234 | 235 | Some of the most sophisticated manufacturing in the world to make computer chips the size of a fingertip that power the world and our everyday lives. 236 | 237 | Smartphones. The Internet. Technology we have yet to invent. 238 | 239 | But that’s just the beginning. 240 | 241 | Intel’s CEO, Pat Gelsinger, who is here tonight, told me they are ready to increase their investment from 242 | $20 billion to $100 billion. 243 | 244 | That would be one of the biggest investments in manufacturing in American history. 245 | 246 | And all they’re waiting for is for you to pass this bill. 247 | 248 | So let’s not wait any longer. Send it to my desk. I’ll sign it. 249 | 250 | And we will really take off. 251 | 252 | And Intel is not alone. 253 | 254 | There’s something happening in America. 255 | 256 | Just look around and you’ll see an amazing story. 257 | 258 | The rebirth of the pride that comes from stamping products “Made In America.” The revitalization of American manufacturing. 259 | 260 | Companies are choosing to build new factories here, when just a few years ago, they would have built them overseas. 261 | 262 | That’s what is happening. Ford is investing $11 billion to build electric vehicles, creating 11,000 jobs across the country. 263 | 264 | GM is making the largest investment in its history—$7 billion to build electric vehicles, creating 4,000 jobs in Michigan. 265 | 266 | All told, we created 369,000 new manufacturing jobs in America just last year. 267 | 268 | Powered by people I’ve met like JoJo Burgess, from generations of union steelworkers from Pittsburgh, who’s here with us tonight. 269 | 270 | As Ohio Senator Sherrod Brown says, “It’s time to bury the label “Rust Belt.” 271 | 272 | It’s time. 273 | 274 | But with all the bright spots in our economy, record job growth and higher wages, too many families are struggling to keep up with the bills. 275 | 276 | Inflation is robbing them of the gains they might otherwise feel. 277 | 278 | I get it. That’s why my top priority is getting prices under control. 279 | 280 | Look, our economy roared back faster than most predicted, but the pandemic meant that businesses had a hard time hiring enough workers to keep up production in their factories. 281 | 282 | The pandemic also disrupted global supply chains. 283 | 284 | When factories close, it takes longer to make goods and get them from the warehouse to the store, and prices go up. 285 | 286 | Look at cars. 287 | 288 | Last year, there weren’t enough semiconductors to make all the cars that people wanted to buy. 289 | 290 | And guess what, prices of automobiles went up. 291 | 292 | So—we have a choice. 293 | 294 | One way to fight inflation is to drive down wages and make Americans poorer. 295 | 296 | I have a better plan to fight inflation. 297 | 298 | Lower your costs, not your wages. 299 | 300 | Make more cars and semiconductors in America. 301 | 302 | More infrastructure and innovation in America. 303 | 304 | More goods moving faster and cheaper in America. 305 | 306 | More jobs where you can earn a good living in America. 307 | 308 | And instead of relying on foreign supply chains, let’s make it in America. 309 | 310 | Economists call it “increasing the productive capacity of our economy.” 311 | 312 | I call it building a better America. 313 | 314 | My plan to fight inflation will lower your costs and lower the deficit. 315 | 316 | 17 Nobel laureates in economics say my plan will ease long-term inflationary pressures. Top business leaders and most Americans support my plan. And here’s the plan: 317 | 318 | First – cut the cost of prescription drugs. Just look at insulin. One in ten Americans has diabetes. In Virginia, I met a 13-year-old boy named Joshua Davis. 319 | 320 | He and his Dad both have Type 1 diabetes, which means they need insulin every day. Insulin costs about $10 a vial to make. 321 | 322 | But drug companies charge families like Joshua and his Dad up to 30 times more. I spoke with Joshua’s mom. 323 | 324 | Imagine what it’s like to look at your child who needs insulin and have no idea how you’re going to pay for it. 325 | 326 | What it does to your dignity, your ability to look your child in the eye, to be the parent you expect to be. 327 | 328 | Joshua is here with us tonight. Yesterday was his birthday. Happy birthday, buddy. 329 | 330 | For Joshua, and for the 200,000 other young people with Type 1 diabetes, let’s cap the cost of insulin at $35 a month so everyone can afford it. 331 | 332 | Drug companies will still do very well. And while we’re at it let Medicare negotiate lower prices for prescription drugs, like the VA already does. 333 | 334 | Look, the American Rescue Plan is helping millions of families on Affordable Care Act plans save $2,400 a year on their health care premiums. Let’s close the coverage gap and make those savings permanent. 335 | 336 | Six things to know about State of the Union 2022 337 | 338 | SharePlay Video 339 | Second - cut energy costs for families an average of $500 a year by combatting climate change. 340 | 341 | Let’s provide investments and tax credits to weatherize your homes and businesses to be energy efficient and you get a tax credit; double America’s clean energy production in solar, wind, and so much more; lower the price of electric vehicles, saving you another $80 a month because you’ll never have to pay at the gas pump again. 342 | 343 | Third – cut the cost of child care. Many families pay up to $14,000 a year for child care per child. 344 | 345 | Middle-class and working families shouldn’t have to pay more than 7% of their income for care of young children. 346 | 347 | My plan will cut the cost in half for most families and help parents, including millions of women, who left the workforce during the pandemic because they couldn’t afford child care, to be able to get back to work. 348 | 349 | My plan doesn’t stop there. It also includes home and long-term care. More affordable housing. And Pre-K for every 3- and 4-year-old. 350 | 351 | All of these will lower costs. 352 | 353 | And under my plan, nobody earning less than $400,000 a year will pay an additional penny in new taxes. Nobody. 354 | 355 | The one thing all Americans agree on is that the tax system is not fair. We have to fix it. 356 | 357 | I’m not looking to punish anyone. But let’s make sure corporations and the wealthiest Americans start paying their fair share. 358 | 359 | Just last year, 55 Fortune 500 corporations earned $40 billion in profits and paid zero dollars in federal income tax. 360 | 361 | That’s simply not fair. That’s why I’ve proposed a 15% minimum tax rate for corporations. 362 | 363 | We got more than 130 countries to agree on a global minimum tax rate so companies can’t get out of paying their taxes at home by shipping jobs and factories overseas. 364 | 365 | That’s why I’ve proposed closing loopholes so the very wealthy don’t pay a lower tax rate than a teacher or a firefighter. 366 | 367 | So that’s my plan. It will grow the economy and lower costs for families. 368 | 369 | So what are we waiting for? Let’s get this done. And while you’re at it, confirm my nominees to the Federal Reserve, which plays a critical role in fighting inflation. 370 | 371 | My plan will not only lower costs to give families a fair shot, it will lower the deficit. 372 | 373 | The previous Administration not only ballooned the deficit with tax cuts for the very wealthy and corporations, it undermined the watchdogs whose job was to keep pandemic relief funds from being wasted. 374 | 375 | But in my administration, the watchdogs have been welcomed back. 376 | 377 | We’re going after the criminals who stole billions in relief money meant for small businesses and millions of Americans. 378 | 379 | And tonight, I’m announcing that the Justice Department will name a chief prosecutor for pandemic fraud. 380 | 381 | By the end of this year, the deficit will be down to less than half what it was before I took office. 382 | 383 | The only president ever to cut the deficit by more than one trillion dollars in a single year. 384 | 385 | Lowering your costs also means demanding more competition. 386 | 387 | I’m a capitalist, but capitalism without competition isn’t capitalism. 388 | 389 | It’s exploitation—and it drives up prices. 390 | 391 | When corporations don’t have to compete, their profits go up, your prices go up, and small businesses and family farmers and ranchers go under. 392 | 393 | We see it happening with ocean carriers moving goods in and out of America. 394 | 395 | During the pandemic, these foreign-owned companies raised prices by as much as 1,000% and made record profits. 396 | 397 | Tonight, I’m announcing a crackdown on these companies overcharging American businesses and consumers. 398 | 399 | And as Wall Street firms take over more nursing homes, quality in those homes has gone down and costs have gone up. 400 | 401 | That ends on my watch. 402 | 403 | Medicare is going to set higher standards for nursing homes and make sure your loved ones get the care they deserve and expect. 404 | 405 | We’ll also cut costs and keep the economy going strong by giving workers a fair shot, provide more training and apprenticeships, hire them based on their skills not degrees. 406 | 407 | Let’s pass the Paycheck Fairness Act and paid leave. 408 | 409 | Raise the minimum wage to $15 an hour and extend the Child Tax Credit, so no one has to raise a family in poverty. 410 | 411 | Let’s increase Pell Grants and increase our historic support of HBCUs, and invest in what Jill—our First Lady who teaches full-time—calls America’s best-kept secret: community colleges. 412 | 413 | And let’s pass the PRO Act when a majority of workers want to form a union—they shouldn’t be stopped. 414 | 415 | When we invest in our workers, when we build the economy from the bottom up and the middle out together, we can do something we haven’t done in a long time: build a better America. 416 | 417 | For more than two years, COVID-19 has impacted every decision in our lives and the life of the nation. 418 | 419 | And I know you’re tired, frustrated, and exhausted. 420 | 421 | But I also know this. 422 | 423 | Because of the progress we’ve made, because of your resilience and the tools we have, tonight I can say 424 | we are moving forward safely, back to more normal routines. 425 | 426 | We’ve reached a new moment in the fight against COVID-19, with severe cases down to a level not seen since last July. 427 | 428 | Just a few days ago, the Centers for Disease Control and Prevention—the CDC—issued new mask guidelines. 429 | 430 | Under these new guidelines, most Americans in most of the country can now be mask free. 431 | 432 | And based on the projections, more of the country will reach that point across the next couple of weeks. 433 | 434 | Thanks to the progress we have made this past year, COVID-19 need no longer control our lives. 435 | 436 | I know some are talking about “living with COVID-19”. Tonight – I say that we will never just accept living with COVID-19. 437 | 438 | We will continue to combat the virus as we do other diseases. And because this is a virus that mutates and spreads, we will stay on guard. 439 | 440 | Here are four common sense steps as we move forward safely. 441 | 442 | First, stay protected with vaccines and treatments. We know how incredibly effective vaccines are. If you’re vaccinated and boosted you have the highest degree of protection. 443 | 444 | We will never give up on vaccinating more Americans. Now, I know parents with kids under 5 are eager to see a vaccine authorized for their children. 445 | 446 | The scientists are working hard to get that done and we’ll be ready with plenty of vaccines when they do. 447 | 448 | We’re also ready with anti-viral treatments. If you get COVID-19, the Pfizer pill reduces your chances of ending up in the hospital by 90%. 449 | 450 | We’ve ordered more of these pills than anyone in the world. And Pfizer is working overtime to get us 1 Million pills this month and more than double that next month. 451 | 452 | And we’re launching the “Test to Treat” initiative so people can get tested at a pharmacy, and if they’re positive, receive antiviral pills on the spot at no cost. 453 | 454 | If you’re immunocompromised or have some other vulnerability, we have treatments and free high-quality masks. 455 | 456 | We’re leaving no one behind or ignoring anyone’s needs as we move forward. 457 | 458 | And on testing, we have made hundreds of millions of tests available for you to order for free. 459 | 460 | Even if you already ordered free tests tonight, I am announcing that you can order more from covidtests.gov starting next week. 461 | 462 | Second – we must prepare for new variants. Over the past year, we’ve gotten much better at detecting new variants. 463 | 464 | If necessary, we’ll be able to deploy new vaccines within 100 days instead of many more months or years. 465 | 466 | And, if Congress provides the funds we need, we’ll have new stockpiles of tests, masks, and pills ready if needed. 467 | 468 | I cannot promise a new variant won’t come. But I can promise you we’ll do everything within our power to be ready if it does. 469 | 470 | Third – we can end the shutdown of schools and businesses. We have the tools we need. 471 | 472 | It’s time for Americans to get back to work and fill our great downtowns again. People working from home can feel safe to begin to return to the office. 473 | 474 | We’re doing that here in the federal government. The vast majority of federal workers will once again work in person. 475 | 476 | Our schools are open. Let’s keep it that way. Our kids need to be in school. 477 | 478 | And with 75% of adult Americans fully vaccinated and hospitalizations down by 77%, most Americans can remove their masks, return to work, stay in the classroom, and move forward safely. 479 | 480 | We achieved this because we provided free vaccines, treatments, tests, and masks. 481 | 482 | Of course, continuing this costs money. 483 | 484 | I will soon send Congress a request. 485 | 486 | The vast majority of Americans have used these tools and may want to again, so I expect Congress to pass it quickly. 487 | 488 | Fourth, we will continue vaccinating the world. 489 | 490 | We’ve sent 475 Million vaccine doses to 112 countries, more than any other nation. 491 | 492 | And we won’t stop. 493 | 494 | We have lost so much to COVID-19. Time with one another. And worst of all, so much loss of life. 495 | 496 | Let’s use this moment to reset. Let’s stop looking at COVID-19 as a partisan dividing line and see it for what it is: A God-awful disease. 497 | 498 | Let’s stop seeing each other as enemies, and start seeing each other for who we really are: Fellow Americans. 499 | 500 | We can’t change how divided we’ve been. But we can change how we move forward—on COVID-19 and other issues we must face together. 501 | 502 | I recently visited the New York City Police Department days after the funerals of Officer Wilbert Mora and his partner, Officer Jason Rivera. 503 | 504 | They were responding to a 9-1-1 call when a man shot and killed them with a stolen gun. 505 | 506 | Officer Mora was 27 years old. 507 | 508 | Officer Rivera was 22. 509 | 510 | Both Dominican Americans who’d grown up on the same streets they later chose to patrol as police officers. 511 | 512 | I spoke with their families and told them that we are forever in debt for their sacrifice, and we will carry on their mission to restore the trust and safety every community deserves. 513 | 514 | I’ve worked on these issues a long time. 515 | 516 | I know what works: Investing in crime preventionand community police officers who’ll walk the beat, who’ll know the neighborhood, and who can restore trust and safety. 517 | 518 | So let’s not abandon our streets. Or choose between safety and equal justice. 519 | 520 | Let’s come together to protect our communities, restore trust, and hold law enforcement accountable. 521 | 522 | That’s why the Justice Department required body cameras, banned chokeholds, and restricted no-knock warrants for its officers. 523 | 524 | That’s why the American Rescue Plan provided $350 Billion that cities, states, and counties can use to hire more police and invest in proven strategies like community violence interruption—trusted messengers breaking the cycle of violence and trauma and giving young people hope. 525 | 526 | We should all agree: The answer is not to Defund the police. The answer is to FUND the police with the resources and training they need to protect our communities. 527 | 528 | I ask Democrats and Republicans alike: Pass my budget and keep our neighborhoods safe. 529 | 530 | And I will keep doing everything in my power to crack down on gun trafficking and ghost guns you can buy online and make at home—they have no serial numbers and can’t be traced. 531 | 532 | And I ask Congress to pass proven measures to reduce gun violence. Pass universal background checks. Why should anyone on a terrorist list be able to purchase a weapon? 533 | 534 | Ban assault weapons and high-capacity magazines. 535 | 536 | Repeal the liability shield that makes gun manufacturers the only industry in America that can’t be sued. 537 | 538 | These laws don’t infringe on the Second Amendment. They save lives. 539 | 540 | The most fundamental right in America is the right to vote – and to have it counted. And it’s under assault. 541 | 542 | In state after state, new laws have been passed, not only to suppress the vote, but to subvert entire elections. 543 | 544 | We cannot let this happen. 545 | 546 | Tonight. I call on the Senate to: Pass the Freedom to Vote Act. Pass the John Lewis Voting Rights Act. And while you’re at it, pass the Disclose Act so Americans can know who is funding our elections. 547 | 548 | Tonight, I’d like to honor someone who has dedicated his life to serve this country: Justice Stephen Breyer—an Army veteran, Constitutional scholar, and retiring Justice of the United States Supreme Court. Justice Breyer, thank you for your service. 549 | 550 | One of the most serious constitutional responsibilities a President has is nominating someone to serve on the United States Supreme Court. 551 | 552 | And I did that 4 days ago, when I nominated Circuit Court of Appeals Judge Ketanji Brown Jackson. One of our nation’s top legal minds, who will continue Justice Breyer’s legacy of excellence. 553 | 554 | A former top litigator in private practice. A former federal public defender. And from a family of public school educators and police officers. A consensus builder. Since she’s been nominated, she’s received a broad range of support—from the Fraternal Order of Police to former judges appointed by Democrats and Republicans. 555 | 556 | And if we are to advance liberty and justice, we need to secure the Border and fix the immigration system. 557 | 558 | We can do both. At our border, we’ve installed new technology like cutting-edge scanners to better detect drug smuggling. 559 | 560 | We’ve set up joint patrols with Mexico and Guatemala to catch more human traffickers. 561 | 562 | We’re putting in place dedicated immigration judges so families fleeing persecution and violence can have their cases heard faster. 563 | 564 | We’re securing commitments and supporting partners in South and Central America to host more refugees and secure their own borders. 565 | 566 | We can do all this while keeping lit the torch of liberty that has led generations of immigrants to this land—my forefathers and so many of yours. 567 | 568 | Provide a pathway to citizenship for Dreamers, those on temporary status, farm workers, and essential workers. 569 | 570 | Revise our laws so businesses have the workers they need and families don’t wait decades to reunite. 571 | 572 | It’s not only the right thing to do—it’s the economically smart thing to do. 573 | 574 | That’s why immigration reform is supported by everyone from labor unions to religious leaders to the U.S. Chamber of Commerce. 575 | 576 | Let’s get it done once and for all. 577 | 578 | Advancing liberty and justice also requires protecting the rights of women. 579 | 580 | The constitutional right affirmed in Roe v. Wade—standing precedent for half a century—is under attack as never before. 581 | 582 | If we want to go forward—not backward—we must protect access to health care. Preserve a woman’s right to choose. And let’s continue to advance maternal health care in America. 583 | 584 | And for our LGBTQ+ Americans, let’s finally get the bipartisan Equality Act to my desk. The onslaught of state laws targeting transgender Americans and their families is wrong. 585 | 586 | As I said last year, especially to our younger transgender Americans, I will always have your back as your President, so you can be yourself and reach your God-given potential. 587 | 588 | While it often appears that we never agree, that isn’t true. I signed 80 bipartisan bills into law last year. From preventing government shutdowns to protecting Asian-Americans from still-too-common hate crimes to reforming military justice. 589 | 590 | And soon, we’ll strengthen the Violence Against Women Act that I first wrote three decades ago. It is important for us to show the nation that we can come together and do big things. 591 | 592 | So tonight I’m offering a Unity Agenda for the Nation. Four big things we can do together. 593 | 594 | First, beat the opioid epidemic. 595 | 596 | There is so much we can do. Increase funding for prevention, treatment, harm reduction, and recovery. 597 | 598 | Get rid of outdated rules that stop doctors from prescribing treatments. And stop the flow of illicit drugs by working with state and local law enforcement to go after traffickers. 599 | 600 | If you’re suffering from addiction, know you are not alone. I believe in recovery, and I celebrate the 23 million Americans in recovery. 601 | 602 | Second, let’s take on mental health. Especially among our children, whose lives and education have been turned upside down. 603 | 604 | The American Rescue Plan gave schools money to hire teachers and help students make up for lost learning. 605 | 606 | I urge every parent to make sure your school does just that. And we can all play a part—sign up to be a tutor or a mentor. 607 | 608 | Children were also struggling before the pandemic. Bullying, violence, trauma, and the harms of social media. 609 | 610 | As Frances Haugen, who is here with us tonight, has shown, we must hold social media platforms accountable for the national experiment they’re conducting on our children for profit. 611 | 612 | It’s time to strengthen privacy protections, ban targeted advertising to children, demand tech companies stop collecting personal data on our children. 613 | 614 | And let’s get all Americans the mental health services they need. More people they can turn to for help, and full parity between physical and mental health care. 615 | 616 | Third, support our veterans. 617 | 618 | Veterans are the best of us. 619 | 620 | I’ve always believed that we have a sacred obligation to equip all those we send to war and care for them and their families when they come home. 621 | 622 | My administration is providing assistance with job training and housing, and now helping lower-income veterans get VA care debt-free. 623 | 624 | Our troops in Iraq and Afghanistan faced many dangers. 625 | 626 | One was stationed at bases and breathing in toxic smoke from “burn pits” that incinerated wastes of war—medical and hazard material, jet fuel, and more. 627 | 628 | When they came home, many of the world’s fittest and best trained warriors were never the same. 629 | 630 | Headaches. Numbness. Dizziness. 631 | 632 | A cancer that would put them in a flag-draped coffin. 633 | 634 | I know. 635 | 636 | One of those soldiers was my son Major Beau Biden. 637 | 638 | We don’t know for sure if a burn pit was the cause of his brain cancer, or the diseases of so many of our troops. 639 | 640 | But I’m committed to finding out everything we can. 641 | 642 | Committed to military families like Danielle Robinson from Ohio. 643 | 644 | The widow of Sergeant First Class Heath Robinson. 645 | 646 | He was born a soldier. Army National Guard. Combat medic in Kosovo and Iraq. 647 | 648 | Stationed near Baghdad, just yards from burn pits the size of football fields. 649 | 650 | Heath’s widow Danielle is here with us tonight. They loved going to Ohio State football games. He loved building Legos with their daughter. 651 | 652 | But cancer from prolonged exposure to burn pits ravaged Heath’s lungs and body. 653 | 654 | Danielle says Heath was a fighter to the very end. 655 | 656 | He didn’t know how to stop fighting, and neither did she. 657 | 658 | Through her pain she found purpose to demand we do better. 659 | 660 | Tonight, Danielle—we are. 661 | 662 | The VA is pioneering new ways of linking toxic exposures to diseases, already helping more veterans get benefits. 663 | 664 | And tonight, I’m announcing we’re expanding eligibility to veterans suffering from nine respiratory cancers. 665 | 666 | I’m also calling on Congress: pass a law to make sure veterans devastated by toxic exposures in Iraq and Afghanistan finally get the benefits and comprehensive health care they deserve. 667 | 668 | And fourth, let’s end cancer as we know it. 669 | 670 | This is personal to me and Jill, to Kamala, and to so many of you. 671 | 672 | Cancer is the #2 cause of death in America–second only to heart disease. 673 | 674 | Last month, I announced our plan to supercharge 675 | the Cancer Moonshot that President Obama asked me to lead six years ago. 676 | 677 | Our goal is to cut the cancer death rate by at least 50% over the next 25 years, turn more cancers from death sentences into treatable diseases. 678 | 679 | More support for patients and families. 680 | 681 | To get there, I call on Congress to fund ARPA-H, the Advanced Research Projects Agency for Health. 682 | 683 | It’s based on DARPA—the Defense Department project that led to the Internet, GPS, and so much more. 684 | 685 | ARPA-H will have a singular purpose—to drive breakthroughs in cancer, Alzheimer’s, diabetes, and more. 686 | 687 | A unity agenda for the nation. 688 | 689 | We can do this. 690 | 691 | My fellow Americans—tonight , we have gathered in a sacred space—the citadel of our democracy. 692 | 693 | In this Capitol, generation after generation, Americans have debated great questions amid great strife, and have done great things. 694 | 695 | We have fought for freedom, expanded liberty, defeated totalitarianism and terror. 696 | 697 | And built the strongest, freest, and most prosperous nation the world has ever known. 698 | 699 | Now is the hour. 700 | 701 | Our moment of responsibility. 702 | 703 | Our test of resolve and conscience, of history itself. 704 | 705 | It is in this moment that our character is formed. Our purpose is found. Our future is forged. 706 | 707 | Well I know this nation. 708 | 709 | We will meet the test. 710 | 711 | To protect freedom and liberty, to expand fairness and opportunity. 712 | 713 | We will save democracy. 714 | 715 | As hard as these times have been, I am more optimistic about America today than I have been my whole life. 716 | 717 | Because I see the future that is within our grasp. 718 | 719 | Because I know there is simply nothing beyond our capacity. 720 | 721 | We are the only nation on Earth that has always turned every crisis we have faced into an opportunity. 722 | 723 | The only nation that can be defined by a single word: possibilities. 724 | 725 | So on this night, in our 245th year as a nation, I have come to report on the State of the Union. 726 | 727 | And my report is this: the State of the Union is strong—because you, the American people, are strong. 728 | 729 | We are stronger today than we were a year ago. 730 | 731 | And we will be stronger a year from now than we are today. 732 | 733 | Now is our moment to meet and overcome the challenges of our time. 734 | 735 | And we will, as one people. 736 | 737 | One America. 738 | 739 | The United States of America. 740 | 741 | May God bless you all. May God protect our troops. -------------------------------------------------------------------------------- /app/assets/raw/tsla_earnings_transcript_q4_2022.txt: -------------------------------------------------------------------------------- 1 | Tesla (TSLA 10.97%) 2 | Q4 2022 Earnings Call 3 | Jan 25, 2023, 5:30 p.m. ET 4 | 5 | Contents: 6 | Prepared Remarks 7 | Questions and Answers 8 | Call Participants 9 | Prepared Remarks: 10 | 11 | Martin Viecha 12 | 13 | Good afternoon, everyone, and welcome to Tesla's fourth quarter 2022 Q&A webcast. My name is Martin Viecha, VP of investor relations, and I'm joined today by Elon Musk, Zachary Kirkhorn and a number of other executives. Our Q4 results were announced at about 3:00 p.m. Central Time in the update deck we published at the same link as this webcast. 14 | 15 | During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. [Operator instructions] But before we jump into Q&A, Elon has some opening remarks. 16 | 17 | Find out why Tesla is one of the 10 best stocks to buy now 18 | 19 | Our award-winning analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* 20 | 21 | They just revealed their ten top stock picks for investors to buy right now. Tesla is on the list -- but there are nine others you may be overlooking. 22 | 23 | Click here to get access to the full list! 24 | 25 | *Stock Advisor returns as of January 9, 2023 26 | 27 | Elon? 28 | 29 | Elon Musk -- Chief Executive Officer and Product Architect 30 | 31 | Thank you, Martin. So '22 -- just going through the '22 recap. It was a fantastic year for Tesla. It was our best year ever on every level. 32 | 33 | Team did an amazing job. It's an honor, of course, to work with such an incredibly talented group of people. So in 2022, we delivered over 1.3 million cars and achieved a 17% operating margin, the highest among any volume carmaker, I think maybe among any carmaker. While doing so, we generated $12.5 billion in net income and $7.5 billion in free cash flow. 34 | 35 | Importantly, the Tesla team achieved these records while -- despite the fact that 2022 was an incredibly challenging year due to forced shutdowns, very high interest rates and many delivery challenges. So it's worth noting that all these records were in the face of massive difficulties. Credit to the team for achieving that. The most common question we've been getting from investors is about demand. 36 | 37 | Thus far -- so I want to put that concern to rest. Thus far in January, we've seen the strongest orders year-to-date than ever in our history. We currently are seeing orders at almost twice the rate of production. So I mean, that -- it's hard to say whether that will continue twice the rate of production, but the orders are high. 38 | 39 | And we've actually raised the Model Y price a little bit in response to that. So we think demand will be good despite probably a contraction in the automotive market as a whole. So basically, price really matters. I think there's just a vast number of people that want to buy a Tesla car but can't afford it. 40 | 41 | And so, these price changes really make a difference for the average consumer. And sometimes for those -- for people who are well -- who have a lot of money, they sort of forget about how important affordability is. And it's always been our goal at Tesla to make cars that are affordable to as many people as possible so I'm glad that we're able to do so. And yes, so I think it's a good thing, all things considered. 42 | 43 | We're also making very good progress on cost control. And we're seeing the cost production in Berlin and Austin drop commensurate with the growth in production, as you'd expect, so yes. With respect to Autopilot, as of now, we deployed Full Self-Driving Beta to -- for city streets to roughly 400,000 customers in North America. This is a huge milestone for autonomy as FSD Beta is the only way any consumer can actually test the latest AI-powered autonomy. 44 | 45 | And we're currently at about 100 million miles of FSD outside of highways. And our published data shows that improvement in safety -- stuttering here, safety statistics, it's very clear. So we would not have released the FSD Beta if the safety statistics were not excellent. Regarding batteries, production rate of 4680 cells reached 1,000 cars a week at the end of last year, and we're increasing capacity for 4680 cells by another 100 gigawatt-hours as announced at Giga Nevada yesterday. 46 | 47 | Our long-term goal is to get to well in excess of 1,000 gigawatt-hours of cells produced internally and continue to use the self cell providers. So to be clear, we will continue to use other cell providers. Just that the demand for lithium ion batteries is quasi-infinite and will be for quite some time. So we feel we can scale a lot faster using both suppliers and internally produced cells. 48 | 49 | And we've got an amazing plan for making the 4680 cell low cost and high energy density. So energy storage also saw record growth, and that is continuing to accelerate. That's always worth remembering that the three pillars of a sustainable energy future are obviously electric vehicles, solar and wind, and the third key item is stationary storage to store the energy from solar and wind, because obviously, the sun doesn't shine all the time and the wind doesn't blow all the time. So you have those three things. 50 | 51 | You can convert all of earth to a fully sustainable situation many times over, actually. So I would like to just make it clear that there is a path to a fully sustainable future for humanity, and we -- our goal at Tesla is to accelerate progress on that path as much as humanly possible. So yes, so we were ramping up Megapack production. And we expect it to grow at a rate quite a bit faster than our legal output. 52 | 53 | So in conclusion, we are taking a view that we want to keep making and selling as many cars as we can. We believe we can keep pushing for strong volume growth while retaining the industry's best operating margins. As we mentioned many times before, we want to be the best manufacturer. But really, manufacturing technology will be our most important long-term strength. 54 | 55 | And we'll talk more about our upcoming plans at the March 1 investor day. And lastly, I want to once again thank all of our employees for delivering another record-breaking year. Congratulations, guys. 56 | 57 | Martin Viecha 58 | 59 | Thanks, Elon. And I think Zach has some opening remarks as well. 60 | 61 | Zach Kirkhorn -- Chief Financial Officer 62 | 63 | Yes. Thanks, Martin. So as Elon mentioned, 2022 was a terrific year for Tesla. I also want to congratulate the Tesla team and also say thank you to our suppliers for your support during quite a volatile year. 64 | 65 | On a full year basis, revenue increased over 50%, operating income doubled, free cash flows increased over 50%, and our margins remained industry-leading. Additionally, we continued to make progress on overhead efficiencies as non-GAAP opex as a percentage of revenue improved further. For Q4 specifically, sequential and annual margin was impacted by ASP reductions as we are managing through COVID impacts in China, uncertainty around the consumer tax credit in the U.S. and a rising interest rate environment. 66 | 67 | Note that in 2022, rising interest rates alone had effectively increased the price of our cars in the U.S. by nearly 10%. Additionally, COGS per unit has increased on a year-over-year basis, driven primarily by three factors: first is raw materials and inflation led by lithium prices and discussed at length in previous calls; second, we are working through the early ramp of inefficiencies of our Austin and Berlin and in-house cell production factories; third, our vehicle mix over the last year has moved more heavily toward Model Y, which carries a slight cost premium to Model 3. Partially offsetting these impacts, we've continued to execute on Tesla controllable cost reductions, in line with the progress we've made in prior years. 68 | 69 | These improvements include our continued work to gradually move toward a regionally balanced build of vehicles. The energy business had its strongest year yet across all metrics, led by steady improvement in both retail and commercial storage. While much work remains to grow this business and improve costs, we believe we are on a good trajectory. As we look toward 2023, we are moving forward aggressively leveraging our strength and cost. 70 | 71 | There are three key points I wanted to make here. First, on demand, as Elon mentioned, customer interest in our products remains high. Second, on cost reduction, we're holding steady on our plans to rapidly increase volume while improving overhead efficiency, which is the most effective method to retain strength in our operating margins. In particular, we're accelerating improvements in our new factories in Austin, Berlin and in-house cells, where inefficiencies are the highest. 72 | 73 | But we are attacking every other area of cost and unwinding cost increases created for multiple years of COVID-related instability. This includes logistics, expedites, accumulation of material buffers, part premiums, productivity and overheads as an example. As the world transitions from an inflationary to deflationary environment, we expect a strong partnership with our suppliers on this journey as well. In that, we've priced our products with a view toward a longer-term cost structure. 74 | 75 | Thus, there will be an impact on operating margin in the near term. However, we believe our margins will remain healthy and industry-leading over the course of the year. Third, we are continuing to ensure funding is prioritized for our long-term road map. This includes expanding in-house cell production, bringing Cybertruck to market, development of our next-generation vehicle platform, expansion of our manufacturing footprint and growth of the energy business. 76 | 77 | We're looking forward to discussing these plans in more detail on our investor day in a month. Thank you. 78 | 79 | Martin Viecha 80 | 81 | Thank you very much, Zach. Let's now go to investor questions. The first question is, some analysts are claiming that Tesla orders, net of cancellations, came in at a rate less than half of production in the fourth quarter. This has raised demand concerns. 82 | 83 | Can you elaborate on order trends so far this year and how they compare to current production rates? I think -- 84 | 85 | Elon Musk -- Chief Executive Officer and Product Architect 86 | 87 | We already answered that question. 88 | 89 | Martin Viecha 90 | 91 | Yes, exactly. 92 | 93 | Elon Musk -- Chief Executive Officer and Product Architect 94 | 95 | Demand far exceeds production, and we actually are making some small price increases as a result. 96 | 97 | Martin Viecha 98 | 99 | Thank you. The second question is in similar vein. What has the initial reaction been to global price reductions in early 1Q 2023, specifically in terms of order intake levels? We've answered that one as well. So let's go to the next one. 100 | 101 | The next investor question is, will Tesla be able to take full advantage of advanced manufacturing production credits for battery cells/packs, so $3,700 per long-range Model 3 and Model Y, it's $45 a kilowatt-hour, for autos and energy products? And how much does Tesla expect to earn in the coming year from these credits? 102 | 103 | Elon Musk -- Chief Executive Officer and Product Architect 104 | 105 | I'll say a little bit about it, then I think Zach will add some. Long term, we expect these -- the value of these credits to be very significant. You can do the math. If we were to get anywhere near 1,000 gigawatt-hours of production or even a few hundred gigawatt-hours, it's very significant. 106 | 107 | So -- but the credits do rely upon domestic manufacturing. And in the case of Panasonic domestic manufacturing, we're splitting the value of the credits. So it will -- the value of credits this year will not be gigantic, but I think it could be gigantic. We think it probably will be very significant in the future. 108 | 109 | Zach Kirkhorn -- Chief Financial Officer 110 | 111 | Yes, just to add and input some boundaries on what we're expecting in terms of impact to Tesla for this year. So different products, we think, will get different amounts of credit. The regulations here are still in flux and there continues to be updates, so this is just our best understanding at the moment. But we think on the order of $150 million to $250 million per quarter this year and growing over the course of the year as our volumes grow. 112 | 113 | And part of the work we're doing here, which is part of what this incentive package is trying to incentivize, is, as Elon mentioned, to move more manufacturing onshore in the United States, which is Tesla's plans anyways. And so, I think we're pretty well positioned over the coming years to take advantage of this. But then also part of what the goal of this incentive package is, is to improve adoption from our customers. And so, we also want to use these incentives to improve affordability as we think about what the price points are in our products going forward. 114 | 115 | And so, as we're thinking about our pricing changes in the U.S. a couple of weeks ago that we announced, we were looking at what the credit benefit to Tesla would be to make sure that customers are able to receive the benefit not only from this that were received to some extent, but also on the consumer-facing side, which is currently $7,500 per car of tax credit, assuming that -- subject to the MSRP caps and the income caps. So we want to use this to accelerate sustainable energy, which is our mission and also the goal of this bill. 116 | 117 | Martin Viecha 118 | 119 | Thank you very much. The next question from investors is, after recent price cuts, analysts released expectations that Tesla automotive gross margin, excluding leasing and credits, will drop below 20% and average selling price around $47,000 across all models. Where do you see average selling price and gross margins after the price cuts? 120 | 121 | Elon Musk -- Chief Executive Officer and Product Architect 122 | 123 | Yes, go ahead, Zach. 124 | 125 | Zach Kirkhorn -- Chief Financial Officer 126 | 127 | Yes, I'll jump in on this. So there is certainly a lot of uncertainty about how the year will unfold, but I'll share what's in our current forecast for a moment. So based upon these metrics here, we believe that we'll be above both of the metrics that are stated in the question, so 20% automotive gross margin, excluding leases and credits, and then $47,000 ASP across all models. And so, two other comments I want to make on this, just tactically on sequential ASP changes from Q4 to Q1. 128 | 129 | And just as a reminder, the ASP reduction is not as large as the reduction in configurator prices. As in Q4, we had backlog customers that we're delivering cars to at a lower price book given that backlogs had been so long for so much of 2022. But then also, there are various programs in place that we used in Q4 that lowered ASPs. The second comment I wanted to make here is that as a management team here, we're most focused on what our operating margin is. 130 | 131 | And so, as other areas of the business become more important, particularly the energy business, which is growing faster than the vehicle business, and as we're heavily focused on operating leverage here, improving efficiency of our overheads, we think the right metric for us to be focused on is operating margin. And so, I wanted to make sure that I shared that with the investor community as well because that is what we're primarily managing to now. 132 | 133 | Elon Musk -- Chief Executive Officer and Product Architect 134 | 135 | Yes. Something that I think some of these smart retail investors understand but I think a lot of others maybe don't is that the -- every time we sell a car, it has the ability, just from uploading software, to have full self-driving enabled, and full self-driving is obviously getting better very rapidly. So that's actually a tremendous upside potential because all of those cars, with a few exceptions -- I mean, only a small percentage of cars don't have Hardware 3. So that means that there's millions of cars where full self-driving can be sold at essentially 100% gross margin. 136 | 137 | And the value of it grows as the autonomous capability grows. And then, when it becomes fully autonomous, that is a value increase in the fleet. That might be the biggest asset value increase of anything in history. Yes. 138 | 139 | Martin Viecha 140 | 141 | Thank you. Let's go to the next investor question. Since Elon started political influencing, polls from Morning Consult and YouGov show Tesla brand. 142 | 143 | Elon Musk -- Chief Executive Officer and Product Architect 144 | 145 | YouGov. You can crush them with your life. 146 | 147 | Martin Viecha 148 | 149 | Show Tesla brand favorability declining in 2022 and division among partisan lines. Such brand damage can impact demand. Does Tesla track favorability? And how will any brand image be mitigated? 150 | 151 | Elon Musk -- Chief Executive Officer and Product Architect 152 | 153 | Well, let me check my Twitter account. OK, so I've got 127 million followers. It continues to grow very rapidly. That suggests that I'm reasonably popular. 154 | 155 | It might not be popular with some people, but for the vast majority of people, my follower count speaks for itself. I have the most interactive account -- social media account, I think, maybe in the world, certainly on Twitter, and that actually predated the Twitter acquisition. So I think Twitter is actually an incredibly powerful tool for driving demand for Tesla. And I would really encourage companies out there of all kinds, automotive or otherwise, to make more use of Twitter and to use their Twitter accounts in ways that are interesting and informative, entertaining, and it will help them drive sales just as it has with Tesla. 156 | 157 | So the net value of Twitter, apart from a few people are complaining, is gigantic, obviously. 158 | 159 | Martin Viecha 160 | 161 | Thank you. Let's go to the next question. Please provide a detailed explanation of where you are on the 4680 ramp? What are the current roadblocks? And when do you expect to scale to 10,000 vehicles a year -- a week? 162 | 163 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 164 | 165 | Yes. Thanks, Martin. First, I just want to say congrats and thanks to the Tesla 4680 team for achieving 1,000 a week in Q4. It was no small feat. 166 | 167 | Definitely a result of more than a couple of years of hard work. As far as where we stand, in Texas, one of four lines are in production, with the remaining three in stages of commissioning and install. Really, our 2023 goal as a 4680 team is to deliver a cost-effective ramp of 4680s well ahead of Cybertruck. Focus areas are dialing in and improving the quality of the high-volume supply mechanical parts and driving factory process yields up as much as possible. 168 | 169 | Between two of those things, if we had achieved those key goals, we'll be well set up to -- for a major 4680 year in 2024. 170 | 171 | Martin Viecha 172 | 173 | Thank you. Next investor question is, Elon said previously that FSD Hardware 4 will most likely come first in Cybertruck. Is that still the current plan? Do you expect there to be an upgrade path for Hardware 3 cars to Hardware 4? 174 | 175 | Elon Musk -- Chief Executive Officer and Product Architect 176 | 177 | Yes, Cybertruck will have Hardware 4. And to be clear, for 2023, Cybertruck will not be a significant contributor to the bottom line, but it will be next year. So it's an incredible product. I can't wait to drive it personally. 178 | 179 | It will be the car that I drive every day. I actually just -- I'm wearing the T-shirt with this matched glass. And it's just one of those products that only comes along once in a while, and it's really special. So yes, so with respect to upgrading cars on -- that have Hardware 3, I don't think that will be needed. 180 | 181 | Hardware 3 will not be as good as Hardware 4, but I'm confident that Hardware 3 will so far exceed the average -- the safety of the average human. So [Inaudible] how do we get ultimately to -- let's say, for argument's sake, if Hardware 3 can be, say, 200% or 300% safer than human, Hardware 4 might be 500% or 600%. It will be Hardware 5 beyond that. But what really matters is are we improving the average safety on the road. 182 | 183 | But it is the cost and difficulty of retrofitting Hardware 3 with Hardware 4 is quite significant. So it would not be, I think, economically feasible to do so. 184 | 185 | Martin Viecha 186 | 187 | Thank you. The next question is for Zach. Zach, when do you think Tesla Insurance will become big enough revenue source to warrant providing more details in the financials of the business so investors can compare it to other insurance companies? 188 | 189 | Zach Kirkhorn -- Chief Financial Officer 190 | 191 | Yes. I think it's probably going to take some time before this business is large enough for specific financial disclosures. But I'm happy to provide an update on where we stand in the business. So we're currently at a $300 million annual premium run rate as of the end of last year. 192 | 193 | We're growing 20% a quarter so it's growing faster than the growth in our vehicle business. And in the states in which we're operating, on average, 17% of the customers in the states are using a Tesla Insurance product. And that number continues to tick up as we spend more time in markets. And we see most of the adoption occurring when folks take delivery of a new car, as they're setting up insurance for the first time as opposed to going back and switching when they already have insurance set up. 194 | 195 | So there's an inherent stickiness in the Insurance business. 196 | 197 | Elon Musk -- Chief Executive Officer and Product Architect 198 | 199 | No, go ahead. 200 | 201 | Zach Kirkhorn -- Chief Financial Officer 202 | 203 | No, I was just going to say, just as a broader reminder on kind of the motivation for starting this business, it was to improve and still is to improve the total cost of ownership of our cars, given that we're seeing high premiums of insurance from third-party companies. And that remains our priority here. We'll obviously run this as a healthy business, but we want to make sure we keep our costs low and insurance stays affordable to our customers. 204 | 205 | Elon Musk -- Chief Executive Officer and Product Architect 206 | 207 | Yes. And so, there are two really important side benefit to our Tesla Insurance that are worth mentioning, one of which Zach alluded to, which is that just by Tesla operating insurance for our cars at a competitive rate, that makes the other car insurance companies offer better rates for Teslas. So it has a bigger effect than you think because it improves total cost -- or insurance costs even when they don't use Tesla Insurance, because now the gigas of the world have to compete with Tesla and cannot charge outrageous insurance for Teslas. So it's great. 208 | 209 | So it has an amplified effect, very important. Then it is also giving us a good feedback loop into minimizing the cost of repair of Teslas for all Teslas worldwide, because we obviously want to minimize the cost of repairing a Tesla if it's in a collision and for Tesla Insurance. And previously, we didn't actually have good insight into that because the other insurance companies would cover the cost. And actually, the cost, in some cases, were unreasonably high. 210 | 211 | So we've actually adjusted the design of the car and made changes in the software of the car to minimize the cost of repair, obviously minimize -- first, the best repair is no repair, avoid the accident entirely, which since every Tesla comes with the most advanced active safety in the world, whether or not you buy full self-driving, you still get the intelligence of full self-driving for active safety, active collision prevention. So it's giving us this really good feedback for, again, reducing cost -- total cost of ownership and also just figuring out how to get -- if somebody's car is in an accident -- most accidents are actually small. They're like a broken fender or scratched side of the car or something like, the vast majority of accidents. But we're actually solving how to get somebody's car repaired very quickly and efficiently and back in their hands. 212 | 213 | And like I said, those improvements actually apply then to old cars. And we're making -- just to emphasize another key point because some of these points might be less, so I apologize for being repetitive. But it's remarkable how small changes in design of the bumper and improving -- obviously improving the logistics of spare part -- providing spare parts needed for collision repair have an enormous effect on the repair cost. So if you're waiting for a part to get repaired and that part takes a month, now you've got a month of having to rent another car. 214 | 215 | It's extremely expensive. And of course, you're missing the car that you love and the one you actually want to drive. So this has actually a very significant effect on total cost of ownership and customer happiness. 216 | 217 | Martin Viecha 218 | 219 | Thank you. The next question from investors is, is Cybertruck production still on track for midyear? 220 | 221 | Elon Musk -- Chief Executive Officer and Product Architect 222 | 223 | We do expect production to start, I don't know, maybe sometime this summer. But I always like try to downplay the start of production because the start of production is always very slow. It increases exponentially, but it's always very slow at first. So I wouldn't put too much thought in start of production. 224 | 225 | It's kind of when does volume production actually happen, and that's next year. 226 | 227 | Lars Moravy -- Vice President, Vehicle Engineering 228 | 229 | Yes, that's right. Like just to emphasize on that, we've started installation of all the production equipment here in Giga Texas, castings, GA, general assembly, body shops. We built all our beta vehicles, some more coming still in the next month, but as you said, the ramp will really come 2024. 230 | 231 | Elon Musk -- Chief Executive Officer and Product Architect 232 | 233 | Yes, exactly. 234 | 235 | Martin Viecha 236 | 237 | And the last investor question is, with near-infinite global demand for energy storage, where should Tesla build the next Megapack factories? How many are needed on each continent? 238 | 239 | Elon Musk -- Chief Executive Officer and Product Architect 240 | 241 | It's a good question. It's not something we -- I think we'll provide an update about that in the future, but it is something we're thinking about very carefully. But really kind of like what is the fastest path to 1,000 gigawatt-hours a year of production. And you'll see announcements come out later this year and next that answer that question. 242 | 243 | Martin Viecha 244 | 245 | Thank you. OK. And now let's go to analyst questions. The first analyst question comes from Rod Lache from Wolfe Research. 246 | 247 | Rod, feel free to unmute your mic. 248 | 249 | Rod Lache -- Wolfe Research -- Analyst 250 | 251 | I think I'm unmuted. Can you hear me? 252 | 253 | Martin Viecha 254 | 255 | Yes, we can. 256 | 257 | Rod Lache -- Wolfe Research -- Analyst 258 | 259 | OK. Thank you. Firstly, it sounds like your 1.8 million unit volume indication for this year is somewhat more supply constrained than demand-constrained. Then I have a follow-up on cost. 260 | 261 | Is that an accurate statement? 262 | 263 | Elon Musk -- Chief Executive Officer and Product Architect 264 | 265 | Well -- OK. I mean, our internal production potential is actually closer to 2 million vehicles, but we were saying 1.8 million because, I don't know, there just always seems to be some freaking force majeure thing that happens somewhere on earth. And we don't control if there's like earthquakes, tsunamis, wars, pandemics, etc. So if it's a smooth year, actually, without some big supply chain interruption or massive problem, we actually have the potential to do 2 million cars this year. 266 | 267 | We're not committing to that, but I'm just saying that's the potential. So -- and I think there would be demand for that, too. 268 | 269 | Rod Lache -- Wolfe Research -- Analyst 270 | 271 | Yes. And on the cost side, the numbers that we just saw from you, as you pointed out, were weighed down by the 4680 ramp, the Berlin, Austin, Giga things, processes, not at rate. Can you give us a bit of an indication of the headwind that you're absorbing from those things like you did last quarter? And then, lastly, on cost, do you think that we can tease out an interesting data point from -- on where battery costs are headed from this announcement that you just made last night? If I'm correct, it looks like the investment cost per kilowatt-hour is less than half of what I've seen anywhere else, maybe $30 a kilowatt-hour for that capacity. 272 | 273 | Elon Musk -- Chief Executive Officer and Product Architect 274 | 275 | I don't think we want to say the specific number, but it's interesting, if you look at the size of the -- of Giga Nevada that is allocated to make 100 gigawatt-hours, is a small fraction of the size that currently makes about 35. 276 | 277 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 278 | 279 | Yes. I mean, the goals we've outlaid at Battery Day on using the investment required to deploy cell manufacturing, I mean, that's been a key focus of ours, and the team is doing a good job hitting the marks on that focus. 280 | 281 | Elon Musk -- Chief Executive Officer and Product Architect 282 | 283 | Yes. And it goes back to the point I was making. I said it several years ago, I think Tesla's really the competitive strength that will be, by far, the hardest for other companies to replicate is Tesla being just d*** good at manufacturing and having the most advanced manufacturing technology in the world. And if you've got that sort of advanced manufacturing toolbox, you can apply it to many things and we're applying it now to battery cells. 284 | 285 | I should also say that there -- we have other products in development. We're not going to announce them, obviously, but they're very exciting. And I think it will blow people's minds when they -- when we reveal them. Tesla has the most exciting product road map of any company on earth by a long shot. 286 | 287 | And we'll continue to, I think, be in that position. We've got more great ideas. I mean, we know what to do here. So the future is very exciting. 288 | 289 | As I said in the last call, there's going to be bumps along the way and we'll probably have a pretty difficult recession this year, probably. I hope not, but probably. And so, one can't predict the short-term sort of stock value because when there's a recession and people panic in the stock market, then prices of stocks -- well, the value of stocks can drop sometimes to surprisingly low levels. But long term, I am convinced that Tesla will be the most valuable company on earth. 290 | 291 | Martin Viecha 292 | 293 | Thank you. And I think, Zach, there was a question on cost headwind in Q4. 294 | 295 | Zach Kirkhorn -- Chief Financial Officer 296 | 297 | Yes. I mean, our weighted average COGS for the company, if you were to assume Austin and Berlin were at the cost structure of our other factories, it was on the order of 2,000 to 2,500 of headwinds. So I think from there, you can back into margin impact of those factories as of end of Q4. 298 | 299 | Martin Viecha 300 | 301 | Thank you very much. And let's go to the next question from Pierre Ferragu from New Street Research. Pierre, please go ahead. 302 | 303 | Pierre Ferragu -- New Street Research -- Analyst 304 | 305 | Thanks, Martin. Can you hear me well? 306 | 307 | Martin Viecha 308 | 309 | Yes. 310 | 311 | Pierre Ferragu -- New Street Research -- Analyst 312 | 313 | Excellent. Zach, actually, I'd like to follow up on the data point you just gave on cost. If I look back at the COGS per car, you guys bottom close to $36,000 in the middle of 2021. And then, the number went up as you had to face with inflation in input costs and the ramp of Berlin and Texas. 314 | 315 | And this quarter, I think we are close to $40,000 and we peaked maybe close to $42,000 at some point last year. And so, my question from here is, how much time do you think it takes you to get back to this kind of $36,000, which would mean Berlin and Texas? And I think input cost, all that stuff is normalizing, is that like -- and that would be like a kind of like a 10% decline in the COGS per car. Is that something we can hope to see this year or is that too optimistic? 316 | 317 | Zach Kirkhorn -- Chief Financial Officer 318 | 319 | The Austin and Berlin ramp inefficiencies in 4680 will make a substantial amount of progress on that over the course of the year, and that's within Tesla's control. We're doing a lot of work on cost reduction outside of that. And we talked about supply chain costs, expedites, logistics, attacking everything. On the raw materials and inflation side, where lithium is the large driver there and this was a meaningful source of cost increase for us, we'll have to see where lithium prices go. 320 | 321 | And we're not fully exposed to lithium prices, but I think in general, as what we've seen from our forecast here, cost per car of lithium in 2023 will be higher than 2022. So that's a headwind that would have to be overcome to return back to those levels. So I don't think we'll get there this year, but I think we'll make progress. And we'll continue to find ways to offset these raw material costs that we don't have control over. 322 | 323 | [Inaudible], is there anything on that? 324 | 325 | Unknown speaker 326 | 327 | Yes. Like on the non-cells raw material, we begin to capture benefits of indexes tapering out, but due to the length of various supply chains, it does take time before this is reflected in our financials. And while aluminum is down like 20% year over year, steel is about 30% down year over year, the global non-cells raw materials market continues to be influenced by geopolitical situations in Europe, high production cost due to labor cost increases and energy spikes and disruptions due to natural disasters like typhoon in Korea four months ago, pandemic lockdowns. So we believe that meaningful price corrections will ultimately come, but it remains uncertain exactly when. 328 | 329 | In the meantime, we continue to redesign supply chain to make it more efficient and work with our supplier partners to find more efficiencies, streamline logistics and transportation to produce cars. 330 | 331 | Martin Viecha 332 | 333 | Sorry, do you want to go say something? 334 | 335 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 336 | 337 | I was going to say, we're also -- our fleet is starting to mature, the 3, Y fleet. And we're gathering a lot of data out of that fleet to understand how we can sort of bring some margin that we didn't know we had out of the product. So over the course of 2023, on the powertrain side, we're actually going to go after sort of some materials where we're paying for more performance than we need or we have more content than we need without impacting reliability at all. And that will actually add up to a pretty significant cost reduction on the powertrain side over the course of 2023. 338 | 339 | So we're not just sort of relying on supply. We're also doing design actions to bring cost out. 340 | 341 | Elon Musk -- Chief Executive Officer and Product Architect 342 | 343 | My guess is if the recession is a serious one, and I think it probably will be but I hope it isn't, that would lead to meaningful decreases in almost all of our input costs. So we expect to see deflation in our input costs most likely, which would then lead to, yes, better margin. I'm just guessing here. So this is -- that would be my guess. 344 | 345 | Pierre Ferragu -- New Street Research -- Analyst 346 | 347 | Excellent. Thank you so much. So as a quick follow-up, Elon, I was thinking about like FSD, and when you look at like the situation today compared to a year ago, it's -- like the progress has been like amazing in the quality of the product but also its rollout. And so, I was wondering, how much is this like impacting the take rate of FSD today? So do you already see that people are getting more excited by FSD because they see it around them on 400,000 cars and they see the value of the service already? Or is that too early to really see like -- to expect like an uptick in the take rate? 348 | 349 | Elon Musk -- Chief Executive Officer and Product Architect 350 | 351 | The trend is very strong toward use of FSD. And as you alluded to, the -- with each incremental improvement, the enthusiasm obviously increases. And so, I think something that still a lot of people out there don't quite appreciate is that Tesla -- of course, Tesla is as much as a software company as a hardware company, but Tesla is really one of the world's leading AI companies. This is kind of a big deal with AI on the software side and on the hardware side. 352 | 353 | With the Hardware 3 inference computer, still the most efficient inference computer in the world despite being, at this point, five years old from the design point. And with Hardware 4 coming and then Hardware 5 beyond that where there are significant leaps. And the Dojo computer, we expect to be using that operationally at Tesla later this year. And we're seeing just a lot of world-class AI talent join the company. 354 | 355 | There's also the long-term potential of Optimus where we're able to use our expertise in electric motors and power electronics, batteries and advanced manufacturing to be able to make a humanoid robot that is actually useful and can be made at high volume with exceptional capabilities because of the autopilot AI that -- where we take the -- because the car is like a robot on four wheels and Optimus is a robot on legs. But the -- as we get closer and closer to solving real-world AI, and we don't see anyone even close to us in achieving this, the value -- I think you appreciate this and a few others do, but most don't know what I'm talking about. And so -- but it's -- this is the thing that has order of magnitude, potential market cap improvement for Tesla. 356 | 357 | Martin Viecha 358 | 359 | Thank you. And the next question comes from Alex Potter from Piper Sandler. 360 | 361 | Alex Potter -- Piper Sandler -- Analyst 362 | 363 | Do you hear me, guys? 364 | 365 | Martin Viecha 366 | 367 | Yes. 368 | 369 | Alex Potter -- Piper Sandler -- Analyst 370 | 371 | OK, great. So a quick one on FSD. This is, I guess, for Zach. Obviously, you unlocked some deferred revenue in the quarter that will translate presumably into higher margins on every incremental sale going forward so long as people opt in for FSD. 372 | 373 | But was wondering if you're able to disclose the percentage of the $15,000 price that you're not going to be able to recognize as revenue upfront rather than deferred. 374 | 375 | Zach Kirkhorn -- Chief Financial Officer 376 | 377 | Yes. I mean, the way that we've structured this is a full self-driving package has two components. There's enhanced autopilot, the price of which is listed on the website. We fully recognize that. 378 | 379 | Then there's an incremental, which is for the additional features of full self-driving offers, and we've released a portion of that. And then, there's a minority of the total package that's remaining that will be released over time as software updates are there. And in our shareholder letter, in addition to disclosing the dollar amount of the deferred revenue release, we also included in there the dollar value of the balance of unreleased deferred revenue that will be released over time with future software updates. 380 | 381 | Alex Potter -- Piper Sandler -- Analyst 382 | 383 | OK. Great. And then, maybe one additional question here on the incremental capacity in Nevada, the 4680s that you're planning. It's a lot of batteries, basically, and presumably, you won't be putting all of those in Tesla Semi. 384 | 385 | So I guess two questions about that incremental capacity. First, is it correct to assume that all of those 4680s are going to be more or less fungible and usable in your entire range of products? And if the answer is yes, then if you had to guess, how do you think that 100 gigawatt-hours would be allocated between your various end markets? 386 | 387 | Elon Musk -- Chief Executive Officer and Product Architect 388 | 389 | I don't know. This is a bit too much guessing at this point. 390 | 391 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 392 | 393 | Yes. 394 | 395 | Elon Musk -- Chief Executive Officer and Product Architect 396 | 397 | But -- yes. Yes. 398 | 399 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 400 | 401 | I mean, you're right. Not all of the 100 gigawatt-hours are going to go into the Semi trucks. That is correct. 402 | 403 | Elon Musk -- Chief Executive Officer and Product Architect 404 | 405 | I alluded to a number of future products. Those future products would use the 4680. 406 | 407 | Martin Viecha 408 | 409 | Thank you. And the next question comes from George from Canaccord Research. 410 | 411 | George Gianarikas -- Canaccord Genuity -- Analyst 412 | 413 | Hi, everyone. Thanks for taking my question. So you recently adjusted prices, and that may have put many of your competitors in the back foot. In addition to that, capital markets have recently gotten a lot tougher. 414 | 415 | So with those factors in mind, I'm curious how you see the current competitive landscape changing over the next few years. And who do you see as your chief competitors five years from now? 416 | 417 | Elon Musk -- Chief Executive Officer and Product Architect 418 | 419 | Five years is a long time. As with the Tesla order part, AI team, until late last night, and just we're asking [Inaudible], so who do we think is close to Tesla with -- a general solution for self-driving? And we still don't even know really who would even be a distant second. So yes, it really seems like we're -- I mean, right now, I don't think you could see a second place with a telescope, at least we can't. So that won't last forever. 420 | 421 | So in five years, I don't know, probably somebody has figured it out. I don't think it's any of the car companies that we're aware of. But I'm just guessing that someone might figure it out eventually. So yes. 422 | 423 | Lars Moravy -- Vice President, Vehicle Engineering 424 | 425 | I mean, beyond that, Elon, like in the vehicle space, even though the market is shrinking, we're growing and EVs have doubled almost year over year. So like it -- whoever keeps up with the trend of EVs is going to be our competitor. The Chinese are scary, we always say that. But like a lot of people always look at the EV market share, but we always look at it is how much of the total vehicle space do we have, and we're just going to keep growing in that space. 426 | 427 | There's 95% for us to go get. 428 | 429 | Elon Musk -- Chief Executive Officer and Product Architect 430 | 431 | Yes. And I don't want to say like -- I think we have a lot of respect for the car companies in China. They are the most competitive in the world. That is our experience. 432 | 433 | And the Chinese market is the most competitive. They work the hardest and they work the smartest. That's -- so a lot of respect for the China car companies that we're competing against. And so, if I would have guessed, there are probably some company out of China as the most likely to be second to Tesla. 434 | 435 | We are -- our Tesla China team is winning in China. And I think we actually are able to attract the best talent in China. So hopefully, that continues. So yes, so we're fired up about the future, and yes, well, it's going to be great. 436 | 437 | George Gianarikas -- Canaccord Genuity -- Analyst 438 | 439 | Just as a follow-up, the Inflation Reduction Act has created huge tax incentives for commercial vehicles. You mentioned an incredibly interesting product pipeline. Are there maybe some plans to accelerate commercial vehicle form factors outside of the Tesla Semi to help accelerate EV adoption? 440 | 441 | Elon Musk -- Chief Executive Officer and Product Architect 442 | 443 | Well, I was basically saying that, yes, but I'm not going to give you details because this is -- nice try, nice try. Yes, of course, of course. So -- we actually always look at like, what is the limiting factor for new vehicles? Because if the -- for the longest time, we've been constrained on total cell lithium-ion production output. And so, people said, like, why not bring this other car to market or that other car to market? Well, it doesn't really help if all you're doing is shuffling around the batteries from one car to another. 444 | 445 | In fact, it hurts because you add complexity but you don't add incremental volume. So it's sort of pointless, in fact, like counterproductive to add model complexity without solving the availability of lithium-ion batteries. So as we get -- so we want new product introduction to match where the cells are available or that new product to use those cells without cannibalizing the cells of the other cars. That's the actual limiting factor if we need new models, not anything else, really. 446 | 447 | Martin Viecha 448 | 449 | Thank you. Let's go to the next question. The next question comes from William Stein from Truist. 450 | 451 | William Stein -- Truist Securities -- Analyst 452 | 453 | Great. Thanks for taking my question. Elon, you started to answer this earlier, but I'd like to ask this question about the AI elements of your business and ask if you could comment on progress around Dojo and Optimus and your anticipation for the likelihood, for example, for the company to disconnect the GPU cluster in favor of Dojo and to have some market achievement in Optimus. 454 | 455 | Elon Musk -- Chief Executive Officer and Product Architect 456 | 457 | Yes. I mean, obviously, with -- because we're still at the early stages, there are big error pause in any predictions. It's like easy -- I think easy to predict long term but hard to predict the time in between now and then. But it's -- we think Dojo will be competitive with the NVIDIA H1 at the end of this year and then hopefully surpass it next year. 458 | 459 | And the key there is, I think, what's the energy usage required for a given amount of -- if you're training a frame of video, how -- what's the energy cost required to do that training? And we think probably -- we said this already actually at AI Day 2, so it's not new information, but we do see potential for an order of magnitude improvement relative to GPU, what GPUs can do for Dojo, which is obviously very specialized for AI training. It's hyper-specialized for AI training. It's not -- wouldn't be great for other things, but it should be extremely good for AI training. So just like if you do an ASIC or something, it's going to be better than a CPU. 460 | 461 | This is sort of, in some ways, like a giant ASIC. And we're able to -- since we're operating one of the biggest GPU clusters in the world already, the -- we've got a good sense of how efficient the GPU clusters operate and what Dojo needs to do in order to be competitive. But we think that it does have a fundamental architectural advantage because it's designed not to be -- the GPU is trying to do many things for many people. It's trying to do graphics, video games. 462 | 463 | It's doing crypto mining. It's doing a lot of things. Dojo is just doing one thing, and that is training. And we're also optimizing the low-level software. 464 | 465 | So it -- at a very sort of fair amount of level. So it's just insanely good at efficient training. And the intercommunication between the Dojo modules is extremely high. It's not going across an Ethernet cable. 466 | 467 | It's -- so anyway, the -- we see a path to an order of magnitude improvement in the energy efficiency or given unit of training. But we also have to achieve that. And so, when will it be achieved? It's hard to say, but we do see a path to get there. And then, also on inference, like once you've got something trained, well, if you want to have a product that's a consequence of that training, that product may not be anything to do with cars, then the efficiency of inference is extremely important. 468 | 469 | And we also have, by far, the most efficient inference computer in -- at the -- with the FSD computer in the car. This has potential for products that aren't even really in automotive. 470 | 471 | Martin Viecha 472 | 473 | Thank you. And William, do you have a follow-up? 474 | 475 | William Stein -- Truist Securities -- Analyst 476 | 477 | Yes. It sounds like the 1.8 million units you expect this year is supply, not demand-limited supply, it sounds like, by the lithium batteries. If you were to become demand-limited, can you talk to us about your propensity to use price and your relatively high industry margins to grow units and share? 478 | 479 | Zach Kirkhorn -- Chief Financial Officer 480 | 481 | Yes. To be clear, the 1.8 million is not cell supply limited. And yes, I mean, we did address that number earlier in the call. Elon, do you want to answer? 482 | 483 | Elon Musk -- Chief Executive Officer and Product Architect 484 | 485 | Yes. It's roughly -- cell supply is roughly matched with that. And the 1.8 million cars, if we get lucky, it could be more. And then, the rest would go into stationary storage, the Powerwall and Megapack. 486 | 487 | So yes. 488 | 489 | Martin Viecha 490 | 491 | OK. Let's have the final question from Adam Jonas. 492 | 493 | Adam Jonas -- Morgan Stanley -- Analyst 494 | 495 | Hi. Elon, first question is, is it time for Tesla to significantly expand the captive finco? I mean, you only have like $4.5 billion of receivables. It's basically nothing compared to other big auto companies. And then, I have a follow-up. 496 | 497 | Elon Musk -- Chief Executive Officer and Product Architect 498 | 499 | Zach maybe is best to answer that. 500 | 501 | Zach Kirkhorn -- Chief Financial Officer 502 | 503 | Yes. I mean, the way that we've been using captive financing so far is to plug what we believe to be gaps in the market of existing third-party products. And so, we have a couple of offerings in Europe. We do loans for our energy business, retail energy business here in the U.S. 504 | 505 | We do leasing and we do a small amount of U.S. loans that are very targeted. And so, we're using captives to support market caps, as I mentioned. So basically, it's a vehicle to support vehicle sales, make sure customers have access. 506 | 507 | I do think there's opportunity here to continue to grow this. We are growing it slowly here. It is a consumer of cash, so we're being cautious on how we do that. But the plumbing is in place to do a lot more here. 508 | 509 | And I think we'll have to see how things unfold over the course of the year and make decisions real time as to how much we ramp it up versus ramp it back. 510 | 511 | Elon Musk -- Chief Executive Officer and Product Architect 512 | 513 | I think if we see a severe recession this year, which, like I said, hopefully, we don't, in severe recessions, cash is king big time because it's in such short supply. So we want to be cautious about using cash for loans and that sort of thing for cars. I feel we're in a very strong position to get through a recession because we really don't have any debt, and we've got over $20 billion of cash, which is great. The cash is earning a ridiculous return, not a good return, so it's like nontrivial. 514 | 515 | And the interest rate actually in the $20 billion is earning like quite a good amount. And I've made this point on Twitter a few times. I'm sure a lot of people on this call understand the fact -- the basic value of a security is a function of the risk-free rate or we'll see how risk-free it really is, but the T-bill rate. So if you've got -- I think the -- if I recall correctly, the S&P 500 has a long-term rate of return of roughly 6%. 516 | 517 | And so, I think the fed needs to be very cautious about having a fed rate that potentially exceeds 6%. Like if we see deflation, and I think we are seeing deflation, then you would add the deflation number to the "risk-free rate" from the fed. And as that starts to exceed 6%, now you're starting to exceed the long-term return of the S&P 500 and starts to become questionable as to why don't just put your money in T bills or savings account essentially instead of in the S&P 500 if the S&P 500 is variable and the bank interest rate is not? This is -- so basically, the fed is at risk of crushing the value of all equities. Quite a serious danger. 518 | 519 | Adam Jonas -- Morgan Stanley -- Analyst 520 | 521 | Thanks, Elon. And just a follow-up. I don't want to steal thunder from March 1 down in Austin, but how close are we to that step-change improvement in BOM cost where you could sell an EV for under $25,000 or $30,000 and actually generate a profit, that kind of real moving assembly line moment in manufacturing? Again, I don't want to steal the thunder, but just if you wanted to kind of wrap up with thoughts there, that would be helpful. 522 | 523 | Elon Musk -- Chief Executive Officer and Product Architect 524 | 525 | I mean, I'd love to answer -- I'll probably be asking the same question, but we would be jumping the gun on future announcements. 526 | 527 | Martin Viecha 528 | 529 | Fantastic. Thank you very much, everyone, for all your good questions, and we will see you again in three months' time. 530 | 531 | Elon Musk -- Chief Executive Officer and Product Architect 532 | 533 | Thank you. 534 | 535 | Martin Viecha 536 | 537 | [Operator signoff] 538 | 539 | Duration: 0 minutes 540 | 541 | Call participants: 542 | Martin Viecha 543 | 544 | Elon Musk -- Chief Executive Officer and Product Architect 545 | 546 | Zach Kirkhorn -- Chief Financial Officer 547 | 548 | Andrew Baglino -- Senior Vice President, Powertrain and Energy Engineering 549 | 550 | Lars Moravy -- Vice President, Vehicle Engineering 551 | 552 | Rod Lache -- Wolfe Research -- Analyst 553 | 554 | Pierre Ferragu -- New Street Research -- Analyst 555 | 556 | Unknown speaker 557 | 558 | Alex Potter -- Piper Sandler -- Analyst 559 | 560 | George Gianarikas -- Canaccord Genuity -- Analyst 561 | 562 | William Stein -- Truist Securities -- Analyst 563 | 564 | Adam Jonas -- Morgan Stanley -- Analyst --------------------------------------------------------------------------------