Well said. I'm a huge fan of Elon and Tesla and am optimistic about their future, but Munger's approach here is incredibly reasonable. I would love to see Tesla succeed, but I also know that I'd hesitate quite a bit to bet billions of dollars on their success.
Indeed, we'll see if Tesla survives, not only the coincidental depression, but also the multi-hundred-billion-dollar war chest being leveraged against them by the other car companies with a century more experience each, more connections, and broader reach.
It's a bit early to be calling the game is all.