[throwaway20875]

Tesla isn't special. Tesla and all other growth companies benefited from the macro landscape of the 2010's. Zero interest rates drove capital out of (low) interest bearing treasuries and bonds and into tech. Look at foreign purchases of each over the last 10 years. I don't think we'll see this trend continue into the 2020's.

[aerosmile]

That's a fair argument. That said, I think it's still worth acknowledging that there are other macro forces out there, and the push for renewable energy is one of the stronger ones. Tesla managed to find itself at the intersection of at least those two strong tailwinds, and even if the zero interest tailwind goes away, the renewable energy one is only going to continue to gain momentum.