Re:Panasonic sells its $3.6B Tesla stake
by wpietri on Friday June 25, 2021 @12:50PM
(#27633290)
That doesn't prove much; it's been 3 years of a very bubbly market. The NASDAQ has gone up 2x over that period. As Warren Buffett said, "Only when the tide goes out do you discover who's been swimming naked."
I remember a lot of people in 1999 and 2000 pooh-poohing talk of a bubble with the exact same arguments. The technology is amazing! People predicted it was a bubble before and it's only gone up!
There's no denying Musk is a true master of hype. That has given him a ton of free advertising and a very low cost of capital. And he's gotten away with fantasies and lies for years, like promising 1 million robo-taxis on the road by the end of 2020. [1] But all bubbles pop eventually, and truth always wins over hype in the long run. It's only then we'll see whether Tesla's become truly a sustainable business, or whether Musk is still swimming naked.
I remember a lot of people in 1999 and 2000 pooh-poohing talk of a bubble with the exact same arguments. The technology is amazing! People predicted it was a bubble before and it's only gone up!
There's no denying Musk is a true master of hype. That has given him a ton of free advertising and a very low cost of capital. And he's gotten away with fantasies and lies for years, like promising 1 million robo-taxis on the road by the end of 2020. [1] But all bubbles pop eventually, and truth always wins over hype in the long run. It's only then we'll see whether Tesla's become truly a sustainable business, or whether Musk is still swimming naked.
[1] https://www.businessinsider.com/tesla-robo-taxis-elon-musk-p...