[bryanlarsen]

The market values Tesla like a car business that is growing ~50% per annum.

> 10 years from now the margins and capital expenses of electric car business will be like the existing ICE car business.

Tesla already has margins similar to existing car companies.

> So this is Tesla saying: "Yeah, our financials are starting to look like a normal car company, but we've got this thing that you should keep value us even more like a tech company than you do today."

Yes, they're saying that, but the market is obviously not buying it.