this post was submitted on 28 Oct 2024
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Tesla stock prices in the expectation that they'll have robotaxi services and general purpose robots in the near future. And also that they will be leaders in these fields, ahead of the competition.
How likely/unlikely that is to happen is debatable, but that's why some people are valuing the company so high right now.
Hi-tech tulips.
"Debatable" is a heavy stretch for someone with a 0% track record when it comes to promised tech while repeating "we can do it NOW and it will be available NEXT YEAR!" for a literal decade. Robo taxies were supposed to be EVERYWHERE 4 years ago. Same with SpaceX, we were supposed to be sending the first people to mars this year, yet all Elon has managed was burn 3 bilion tax payer dollars for literal fireworks, as not a single "starship" managed to reach high orbit. Even the cybertruck is a cheap knockoff of what was promised. Not to mention the countless people that have died because he's allowed to beta test his death machines in public. Can't forget his starlink shenanigans in Ukraine, fucking warlord wannabe... Elon is the greatest scam artist in modern history, and it's absolutely disgraceful that he isn't behind bars, let alone valued at all.
What? The stock took a huge hit after that reveal. It's a cult of personality.
Yeah, because the market went from having the opinion of "I'm 80% sure that Tesla is going to do this robo taxi, automaton thing" to " I'm 65% sure that Tesla is going to do this robotaxi, automaton thing". Things are rarely all or nothing with the market.
I'm 80% sure he's going to do it, and 100% sure it'll be a disaster if he does.
It's also why he's hanging it all on Trump right now.
That's what he's after - the complete deregulation of self-driving safety standards in the US.