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by SovietDissident
2720 days ago
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This is exactly how I would have imagined a trip would go. $85 billion market cap for a car that can't travel to most areas of the globe at all or with severe inconvenience? Give me a break. Electric cars have been around for 100 years, and they've been consistently inferior. We've perfected the car with the internal combustion engine. Empower automobile engineers to make marginal improvements, but otherwise: can we please spend precious capital elsewhere? Think of all the cures or improvements to human life this money could have gone towards, rather than this stupid electric car will-o'-the-wisp. Build some nuclear power plants! Go to Mars! (In fairness, Elon's trying the latter, as long as Tesla doesn't become a financial albatross around his neck.) Why must the history of humanity always be the story of one step forward and two steps backward? |
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Pure electric cars have only been widely available for a few years, so there isn't a lot of infrastructure yet. The market cap prices in risk-adjusted growth, so you have to consider what the world will look like 10-20 years from now. Do you think it'll still be the case that electric cars won't travel to most areas of the globe without severe inconvenience?
> Build some nuclear power plants! Go to Mars!
Firstly, we can do both. There is enormous amount of capital in the world, and not enough actionable good ideas. Secondly, dictating capital allocation top down is tyrannical. Thirdly and most importantly, there have been human societies that have tried to avoid various will-o'-the-wisp projects and allocate capital only to smart undertakings. Historically, they haven't fared very well.