[jeremiahhs]

You've bought the CNBC fud. Tesla made 4x the profit from cars than bitcoin or credits. Valuation is based on the future, not on the past. Exponential growth matters - just look at the last ten years, then extrapolate a few years more. If you did not predict 500k Tesla cars delivered in 2020, back in 2015, then you can not credibily comment on current valuation ( which is based on the future).

[legulere]

If you extrapolate, VW will overtake Tesla soon in electric cars.

The reality is more that untapped markets follow S curves. The electric car market will not be bigger than what the total car market has been but replace it. Electric cars are not there yet, but the market valuation is already far beyond that.

[croes]

Tesla made 438 millions profit, 100 million are from bitcoin. If we ignore the profit from carbon credits (they made more from credits than from bitcoin) they made 4x100 millions profit from cars by your math. So combined they made more profit than they did. What comes next? Are they building the perpetual motion machine?

[pmlnr]

Valuation is based on who farted at wall street.