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   Paul Cantrell (inthehands@hachyderm.io)'s status on Thursday, 06-Mar-2025 04:49:34 JST Paul Cantrell

   @datum
   Yes, agreed: “premised on future dominance” is the only explanation for that P/E ratio, and in addition to everything that you said:

   - Self-driving seems to be hitting a wall of problems, appears poised to underdeliver for the foreseeable future
   - And Tesla’s FSD no longer looks poised to win whatever limited success •is• there to win
   - Musk’s “I am a supergenius” con is crumbling
   - The brand once had cachet, now is toxic
   - And then there’s those tariffs

   Where’s the future dominance story now? Sounds increasingly like a fairy tale.

   • Embed this notice
     Paul Cantrell (inthehands@hachyderm.io)'s status on Thursday, 06-Mar-2025 06:03:45 JST Paul Cantrell

     in reply to

     • John

     @johnzajac @datum
     Yup, exactly. And despite their periods of stagnation, the fact is that Apple’s brand halo really has (almost) always been anchored in strong design and engineering fundamentals, which Tesla really does not have at this point (and maybe never did).

   • Embed this notice
     John (johnzajac@dice.camp)'s status on Thursday, 06-Mar-2025 06:03:46 JST John

     in reply to

     @inthehands @datum

     From a brand perspective, they had an "Apple Effect" going on for about a decade, which is where most of their stock price came from.

     Basically, people thought that owning a Tesla conveyed social status, so they ignored or reasoned away all the flaws in the technology (especially the software).

     Apple's brand moment lasted for 25 years on the strength of their tech and software. It still props up their company, despite recent stagnation.

     But Tesla doesn't have that.