| I used to make similar arguments. But I also now look at actual results, and they are not merely late, they are far less than promised. Globally competitive EV? Not against the Chinese competitors (Hint: it's why he plans to merge Tesla into SpaceX). Self-driving so good cars would be assets you could run your own self-driving Uber-like service (and customers paid a $10K upcharge for the ticket to do it next year)? NOPE, Tesla can't even do their own self-driving reliably. And whatever happened to the Tesla solar roofs? Can't get one. Making a car company profitable enough to justify the insane multiples? NOPE, will never happen. But he's selling Tesla now on the Humanoid Robot "vision". SpaceX did better on self-landing boosters, but they still have serious issues with scaling it up, and competitors are catching up. But the physics of orbiting data centers make them not absolutely impossible, but very uneconomical. Every problem supposedly solved in space is easier and orders of magnitude cheaper to solve on the ground. If you haven't yet noticed the pattern, Elon is always selling the next big hype wave. It is always the NEXT thing that will justify the insane multiples. If you want to buy and hype meme stocks on the next-greater-fool theory, good luck; you will do well for a while as there are many fools around. |
Ideally, you pass your meme stocks to greater fools before they collapse. You then move to the next meme, rinse and repeat. You can do well for a surprisingly long time.
Not being a misanthropist has been expensive to me.