It's pretty safe to say that after a decade of unfulfilled projections and promises, the Tesla EV fantasy is now a bust.
I guess historically, lots of companies have operated by selling dreams.
The real estate industry sells dreams of suburban utopias.
The fitness industry sells dreams of sexy good times.
The cola industry sells dreams of likability and friendship.
Apple sells dreams of in-crowd later-day eco-hipsterism.
Tesla sells… dunno. Maybe dreams of billionaire crypto-bro futurism?
As long as the company is worth $900B+, you're never going to convince its fans that they're wrong.
Even if the stockholders all lost everything, I think a significant portion will still think they were following the messiah, the same way that old ladies give their last three pennies to tele-vangelists while eating cat food off of paper plates.
I guess historically, lots of companies have operated by selling dreams.
Among it's peers, Tesla has no equal in the "dream" category.
Tesla is one of the "Magnificent 7" technology stocks. Leaving Tesla aside, the average P/E of this group over the last 2 years is around 30. Tesla is currently around 170.
But even this doesn't really capture the full extent of the Tesla "dream". Tesla is the only one of these stocks with an earnings decline over the past 2 years.
The highest valuation combined with the poorest results --- that's a lot of dreaming.
I guess historically, lots of companies have operated by selling dreams.
The real estate industry sells dreams of suburban utopias.
The fitness industry sells dreams of sexy good times.
The cola industry sells dreams of likability and friendship.
Apple sells dreams of in-crowd later-day eco-hipsterism.
Tesla sells… dunno. Maybe dreams of billionaire crypto-bro futurism?
As long as the company is worth $900B+, you're never going to convince its fans that they're wrong.
Even if the stockholders all lost everything, I think a significant portion will still think they were following the messiah, the same way that old ladies give their last three pennies to tele-vangelists while eating cat food off of paper plates.