One of the greatest tricks companies use to justify high valuations is to convince potential investors that they’re a tech company.
We saw this with Juicero. We saw this with WeWork.
And I suspect that this is the case – to an obscene degree – with Tesla.
At the end of the day, Tesla is a car company with an energy side hustle.
Elon Musk might be talking about full self-driving, A.I., and robotaxis, but he has yet to deliver a tangible product based on any of those things. Until Tesla makes something that works, it is an automotive company and should be treated as an automotive company.
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