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they’ve been promising robotaxis for at least a decade
Watch the monorail episode of the Simpsons and that will teach you everything you need to know about Elon Musk.
This is a quality comment, except for the songs from the episode now stuck in my head.
“Musk is well know(n) for making promises with deadlines he never meets.”
Remember DOGE? Boring Company and Hyperloop? The very late and poor selling Cybertruck that literally falls apart?
One need only watch “The Music Man” to get a handle on Musk, except he managed to p*ss off at least half of his potential customers last year…and it shows in the sales drop.
What I can’t figure out is why anyone buys into his Ponzi schemes.
Even at a sky-high (for a manufacturing company) 50x earnings valuation, the market cap would only be $190B, which is about 13% of its current level of $1416B. Can you say “overvalued”?
The shareholders “believe” it’s a tech company more so than car manufacture. Is there value in the charging network, battery tech, and electric motors? Yes but not to the tune of $1416B valuation. It’s overvalued so badly if the cards fall down it will drag other industries into the pile.
Let me help with.your headline
“Lowest profit since taxpayer subsidies went away”
Still hundreds of millions in taxpayer subsidies – we should just nationalize these companies at this point
Correction for opening line: “Tesla’s annual profit plunged to its lowest level since the pandemic five years ago as it lost the title of the world’s biggest electric vehicle maker to a Chinese rival and boycotts hammered sales.” There was more than boycotts, with destruction of car lots and private property. Doxing Tesla vehicle owners also happened, even of anti-Musk leftists.