But that’s all bubble. Tesla isn’t selling even enough cars to justify its current valuation, and sales are slowing down. The current valuation of Tesla is based entirely on hype, and has been for years. For ever, really, but in the early years it could be justified because it was the fastest growing car company ever, and EVs were new and hot. Now everybody is building EVs, and more than Tesla.
They’re investing this much because they honestly seem to think they’re on the cusp of super intelligent AGI. They’re not, but they really seem to think they are, and that seems to justify these insane investments.
But all they’re really doing is the same thing as before but even bigger. It’s not going to work. It’s only going to make things even more expensive.
I use Copilot and Claude at work, and while it’s really impressive at what it can do, it’s also really stupid and requires a lot of hand holding. It’s not on the brink of AGI super intelligence. Not even close. Maybe we’ll get there some day, but not before all these companies are bankrupt.
It’s magic that will magically transform the world and make everybody rich and magically do our work for us. Like in Disney’s Sorcerer’s Apprentice.
What a great idea to test this on paying customers’ live production websites.
The Friedman Doctrine (shareholder value is the only thing that counts) is the most harmful idea in capitalism.
I get that Reddit has to make money, but it’s still possible to show ads without infringing on your users’ privacy.
Why would this be my first time reading about the stock market? Do you think this is the first bubble?
Yes, hype and bubbles are common on the stock market, that’s not all it is, and that doesn’t make them okay. The dot-com bubble led to a crash. Other bubbles led to crashes. This one will too. How long that will take? That depends on the number of greater fools, or on how long they can keep inflating this with financial trickery.
That was years ago. Tesla sales are dropping in many places, while other the other EV sales are growing. Tesla has peaked, there’s no sign of anything that will reverse it. And their sales have never justified their stock value.