I suspect most of these EV startups are trying for that TSLA bump, and don't really care much that TSLA is almost inevitably doomed to stagnant stock returns for decades now.

Meanwhile the legacy companies will keep moving slowly along and produce vehicles. Some will die, some will merge, some will have wild successes.

But it's much different than Google et al because cars actually cost about as much to make and sell as they do to buy.