PwnallthethingsNov 26, 2022

He's the richest man only because Telsa is a memestock.

Once people realize Tesla's value is high for the same basic reason FTX's was*, it'll normalize down to something a lot smaller.

* people put money in, and number go up; and because number go up, more people put more money in. All while paying lots of attention to the brand and the memes but without paying much attention to the fundamentals of the business

Show threadstilescrisisNov 26, 2022
@Pwnallthethings There was a point in time where it looked like Tesla was going to have self-driving cars a decade ahead of everyone else. That technology would be worth a lot. However, it turns out that was all smoke and mirrors, and they're already outpaced by Waymo and others. Only Tesla had the audacity to sell FSD before it worked, and had the chutzpah/RDF to pull it off.
Show threadChristopher Pickslay
@stilescrisis @Pwnallthethings was there really ever such a point? Elon has said for years that “it’s coming this year”, but I’m not sure that was ever remotely believable given the delta from where it’s ever been
Nov 26, 2022 at 2:22amWeb
Show threadstilescrisisNov 26, 2022
@chrispix @Pwnallthethings 100,000 people have purchased the FSD package; presumably the promise of "FSD is right around the corner" was believable to them? I know at least one person who bought it so they could roll the price into the car loan, assuming it'd be ready in a year or two.
Show threadChristopher PickslayNov 26, 2022
@stilescrisis @Pwnallthethings agreed I think many people have believed him, just as there are many who believe he’s the only one who can rescue Twitter. I personally find it mystifying to pay that much for something that doesn’t exist, even if financed. Snake oil lives on…