Just sold my Ferrari to buy more TSLA

He's 100% correct BTW

 

Tesla duplicating Waymo's business in Austin (probably more expensive vehicles operating in a very limited area in limited weather conditions with remote human monitors) is nothing even close to the robotaxi that Musk promised.

 

just wait...

 

Have been since 2017 -- but I'll wait some more.

 

I hope all you understand this thread has an invalid premise. Namely, to choose between a Ferrari and Tesla, you have to conclude owning a Ferrari is an investment.

I can't stop laughing, a Ferrari as an investment.

 

Yes it is an investment for the dealership because the know you be back to fix something every month

 

If it's electric, it makes sense
You get self driving EVs for getting you from A to B, and real cars to enjoy driving.

 

How are the TSLA bulls doing?

 

After today’s trading session, they are probably looking to sell their Ferrari’s. I think this drops more down into mid 100’s. He should have never got into politics.

 

Musk getting into politics might have hastened Tesla's demise a bit, but vaporware hype that doesn't exist was/is never a good business plan.

 

I would argue TSLA should not trade at a multiple higher than Ford or GM. TSLA is no longer a growth stock in my opinion.

 

Several of my employees cancelled their Tesla orders recently and many people here are boycotting the brand due to Elon’s politics

Tesla has become symbolic as a brand increasingly so, representing something that many disagree with

I think Elon needs to drop politics or leave Tesla, one or the other

 

Board or investors should sue to force him out not due to politics but as a poor/inattentive CEO. Purely for biz reasons.
My neighbor just bought a second Tesla right before the nonsense started and have expressed regrets.

 

Even after loosing half its value TSLA is still overvalued IMHO - there is no foreseeable growth that will move down the PER to a reasonable multiple if the valuation stays where it is.
On the other hand, there are no limits in valuations when exchanges are based on speculation (crypto currencies are proving that), so besides the fundamentals, the share could go anywhere.

 

I think the argument has always been Tesla is an "energy company" or something along those lines with their power walls and solar roof products, but doesn't seem to have grown as much as one would hope. Similar to how Ferrari is a lifestyle company now rather than an engine maker that includes the car for free...or something along those lines the current the initial CEO have described the company as iirc. Maybe Tesla lost its luster like Ferrari

 

What is happening to Tesla reminds me very much with what happened with the Ford Pinto. The Pinto was a very successful car for Ford ( I think it was Ford's most successful marque), but then the market turned on the Pinto when reports came out that the Pinto could blow up with a rear collision. Tesla trading at 112x forward earnings is in my mind simply ludicrous, no pun intended. Whom are the buyer's right now and in the future for Tesla and are those two groups different? To me, Tesla shouldn't trade beyond a 20 PE, which is still a premium over legacy brands.

 

As a certified Musk hater, this pleases me. I haven't liked the guy since he called that fella in Thailand a pedophile who was trying to help those boys stuck in the cave.

 

I've never thought musk is all that smart. A good confidence man, indeed

 

Analysts that believe Tesla has more growth say it's not a car company, it's a technology company. An arguable point, but what they are working on, if it ever went beyond vaporware, would reinforce that idea. AI, humanoid robots, self driving taxis, electric battery storage, etc.

 

Uber made $1.9 billion in 2023 with other people's cars. What would they have made if they had to use their own fleet? How long will it take for people to trust a self driving taxi? I'm old school, I would never trust it but young people probably feel different about the technology. Would the self driving car know to take off if the passenger was getting robbed at a stop light?

 

The answer is no, right? There was a lady in a Waymo who was getting harassed by guys who wanted her number. They wouldn’t let the car move until they got her number.

Video of the incident

Now just imagine they broke a window…

 

Will be interesting to revisit such dogmatic and unwavering opinions in the next 24 months

 

Waymo already has self driving taxis, based on Jaguar cars. One current issue (which has been overlooked for years) is that self driving cars (with the current technology) need a lot of additional equipment (cameras, sensors, and so on) and are only able to operate in a known environment (a San Francisco taxi would not be able to operate in another city without information update). Remote monitoring could provide some improved safety, but the reality is that it's still "work in progress" and will probably be for many years to come.
One thing that's often misunderstood is that human beings and machines do not rely on the same capabilities to perform tasks - so that something that seems relatively easy to accomplish for a human being could be very difficult to implement, whereas something that's difficult for a human being could be performed far better by an appropriate software. Failing to consider that typically leads to unrealistic expectations.
For years, good chess programs have been able to win other human players, no matter how good they are (they could be International Grand Masters, they'd still loose against the machine). Since any average human is basically able to drive a car (although he is typically a poor chess player), some have assumed it would be easy to implement self driving cars - it has been proven wrong.
Most probably, good self driving cars will exist in years to come (because there is no theoretical impossibility), but the effort to reach this result will be far higher than initially (and maybe still) assumed.

 

Replying to this so I can come back in 24 months and revisit this thread.

 

Steve, I’ve always prided myself on being a straight shooter, so in that spirit, I’ve got to give credit where it’s due. You’ve been anti-Musk from day one—no one here can argue otherwise, least of all me. I've been a Tesla optimist, but I’ll happily take my serving of crow on this one.

What changed? Well - I never thought Musk would go so deep with his extra curricular interests outside Tesla.

You are right. I am wrong. Consider this my official concession speech. Musk is a bastard. I agree with you now. Apologies, it took me so long to come around your viewpoint.

***

Would I be accurate that are you also disagreeing with the POTUS on this one too? Seems like he thinks Musk is getting a raw deal—and far from being a charlatan, he’s as honest as they come. Heck, he even put his money where his mouth is and bought a Tesla yesterday. Given your rock-solid character judgment on Musk, your answer would definitely carry some weight with me!