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Too wonky?
(lemmy.world)
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this post was submitted on 03 Apr 2025
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Elon runs a car company with a $800B market cap that makes cars at one tenth the speed of Toyota, valued at $250B market cap.
Really makes you question the valuation on some of these companies.
My understanding is Tesla was valued so high because of what they might become, not what they are. Basically everyone trying to buy in on the ground floor before they cornered the robotaxi market and launched to orbit. Oops how's that going for all you Tesla investors?
I wouldn't put a dime into that company. They're going to lose this race because their technology is inferior and they're unwilling to change because Elon's an idiot. But that's the explanation I've heard.
Plus battery technology. The idea that eventually everyone will have a battery at home was part of the appeal. Nothing to do with their cars (afaik).
Also the charging network, but that one always seemed dumb to me since I'm pretty sure a competent electrician could build a decent charger once the parts become readily available. Why waste time leasing hardware when you can pay Bubba the electrician a thousand bucks and sign an exclusive repair contract.
Curiously, still pretty good, given their bloated valuation