[mdorazio]

These are great examples. SpaceX is an aerospace company and Tesla's price and hype are based on not being a manufacturing company (Elon touted it as a transportation tech company and not a car company from the beginning). If either were valued as manufacturing companies, their valuations would be in line with traditional peers.

My point is, if you want manufacturing to return, we need American FoxConns, and that means literally 2% margins [1]. We can't rebuild onshore manufacturing with overhyped companies alone.

[1] https://www.foxconn.com/en-us/investor-relations/financial-i...

[SyzygistSix]

The price and hype are based in part on not being a manufacturing company but the business model is certainly based on being a manufacturing company. And the manufacturing segment of both that is expanding. Just because the stock price is ridiculous does not mean the business models are unsound. They are a great example of bringing manufacturing and vertical integration back. They have made their factories work in California, Beijing, and Berlin.