Subject: Re: Q4 call.
Revenues are flat, profits are down, and margins are down. Capex is up a lot, which can be bullish, in my view. But the devil is the depreciation will hit net income. Hard to justify the growth premium with those numbers.


None of that really matters. Maybe 10% of the current value is in the car business.

We got Elon Musk. We got his merry band of super-geniuses too. Why do people continue to underestimate him? Look at what he's done to his "enemies".

Now throw in Tesla's expertise in all the different skills necessary to win in autonomy and bots and they look uncatchable to me. Data centers, data, inference computers, software, manufacturing, distribution, batteries, communications, marketing, material science, engineering and worldwide service.

It's like explaining why Tiger could win so often in his prime: he was just better than everyone else in just about every way.