[geeB]

Probably nobody knows for sure. I can say why I’m not bullish but it’s just a post hoc rationalization.

Tesla: general economic environment, stiffer competition and too many things piling up that will come “next year”, which will dry up one of their historical advantages (i.e. get paid now, deliver never). Probably some sell pressures from Musk cashing out for twitter and from a certain demographics of investors hit particularly this past year. On top of all that, Musk has been in the media too much and his true self started showing, alienating mostly potential customers and not making much inroads with the more conservative folks.

Meta: that just seems the nature of the space. Products are in and out within a few years, retaining mostly a certain demographic which grew up with them. They were able to stay relevant via good acquisitions, but were not able to do so for a couple of cycles now due to competition not interested in selling (Snapchat, TikTok). To accelerate the decline: general economic environment, privacy restrictions, and an expensive pivot to VR where the market seems way too small to support such valuations.