$8 trillion so far
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.
Oops how’s that going for all you Tesla investors?
Curiously, still pretty good, given their bloated valuation
Oh boy, economists actually being able to make good jokes is about as bad an indicator for society as a sudden spike in the sales of flag pole mounts for pick up truck beds
People keep assuming that capitalist hierarchies are all about rational ways to make money. No it's about making people feel powerful over others. Always has been. These people already have more money than they could ever spend in a lifetime, they were already only using it to dunk on the poors. But being restricted in this way was not something they could buy, so yes, it was absolutely worth it to them.
Pretty much this. You know that pyramid graph with the hierarchy of needs? These people have an alternate version of that where the social layer is replaced by a power layer.
I think I'm going to stare at the ceiling and think about how that pyramid doesn't apply to me
Isn't that free speech?
Yes, but the right likes to pretend that the left censors everything, simply by promoting equality and respect. Meanwhile, Trump has actually banned over 250 words from governmental use.
It would seem that free speech, like freedom, isn't free