How does the market TANK because of Tesla? Are you kidding me. Real quick. To Bank of America and all the other high-end financial institutions giving cover to a Mega-Cap that has a forward PE 1000 x higher than an ocean skimming Southwest airlines flight; YOU are enabling this. This isn't capitalism, this is cronyism.

It's like a financial cult cabal based on one man's hopium that him alone can only build vehicles and technology of the future. This is a patent falsehood being perpetuated by people that have no clue what technology is or how it works. Name in point. Cathie MF Wood.

Just think about the $56 Billion dollars. The judicial system gave these people a way out and defended them against their own worst judgment and the shareholders went back in and doubled down on the pay package.

Does one not realize how much R&D $56 Billion dollars could afford? And that's straight cash.

And where are the consumer agencies? You're telling me that we have defined 5 levels of autonomous driving that was put together and defined in part because years ago Elon was hijacking the phrase "Self-Driving". Still doubling down, because nobody gives shit about fuck, Elon now markets it as "FULL-Self-Driving". Which in actual reality it is level 2 self-driving. Where and how and when does the word "FULL" come into anyones lexicon let alone consumer marketing?

Look at the numbers if you don't believe me.

• Uber has a market cap of: $140.58 Billion USD
• Lyft has a market cap of: $5.03 Billion USD
• The rest of the US taxi market is roughly a market cap of: $21.34 Billion USD

If you look at the above TAM that equates to roughly $167 Billion USD. If a hypothetical Robotaxi company took 100% of the market it still wouldn't surmount to Tesla's current eval, future eval/earnings, and certainly not anything that cult leader Cathie Prathiagrus Wood's is insanely suggesting.

There is a simple reason of why all of this is so crazy as well. Gross margins. Margins on a car are about 3.9% of the final car price. Yes, if you make your car into an Iphone you will get some additional verticals there that have much better profit margins than a vehicle. This is the rub. For Tesla, the additional squeeze is this grand idea that cars can drive themselves. Here's the thing, they can't.

No matter how much you butter up and put lipstick on that pig the reality is we are nowhere near self-driving cars in the next 10 years. The interesting part about it is that the technology needed to truly create self-driving level 5 autonomous driving is not even being developed in large part by Tesla. It is being built by OpenAI, Microsoft, and Anthropic.

The idea, that you can brute force every road, stop sign, and traffic signal in the US with a bunch of If / Else statements and make a scalably viable autonomous level 3, 4, or 5 driving system is absurdity. There is no AI/ML pattern systems that will work efficiently enough to make this a viable platform. Let me make it more clear, FSD in its current state could be on version 87 and it would still not pass a level 2 system.

The technological inadequacy here is clear. Generative AI based on worldview environments with live real-time reactions would be the technology you need to break out of level 2 autonomous driving.

Now Mr. Musk is a smart guy and I would say that he is probably a genius - he's just not very forthright. He damn well knows this and the reason why he is putting the bank into capex for new Nvidia chips for the Tesla supercomputer is because he is now planning on going down a road of competing with OpenAI directly.

And that's fine, I truly believe that in the next 5 years we are going to see tech like nothing the world has ever seen. But picks and shovels are going to be sold. Meaning, these technologies will be purchased by GM, FORD, Volkswagens and other car manufacturers. The idea that Elon Musk is somehow going to own all of that is absurd.

The tech that Elon Musk needs and wants is 5 - 10 years away. Full stop. In all that time other players and other competitors will be getting ready as well. Flying taxis from Archer makes more sense to me then wanting to catch a car with no driver to put my bags in the trunk. I love tipping that man or woman doing that job. What is the appeal or necessity of a driverless car doing the same work? If a robot was in the car driving it and talking to me I would appreciate that and think it's cute but I am not going to hope over Carlos or Jenny when I know they have a family to feed at home.

That notion of using AI without care of human impact on job function loss will probably take generations to get out of the human psyche. Meaning, I won't use the self-checkout for this exact reason. 1. I don't want to bag my own shit, 2. I know this lady doing this at the register has a family. 2 - 5 items meh.

It's not that Tesla isn't worth Billions or Elon isn't a smart guy. It's the PE and forward PE doesn't make sense. Great company, just not at this value. The tech will eventually get here but you can't buy the tech company Tesla on hopium when it may not be them who truly pushes this technology forward and into a practical/scalable state.