Tesla's Multiple Is High, but Positioning Matters

The multiple at 70 is important to understand, but what are we judging it off of? It's not a car maker only. I think that you have the industrial manufacturing part in there. And it's an ecosystem. As long as it stays out above 230 or so, I'm very happy with it. Josh: What else needs to be reassessed if anything due to this multiple expansion that we've seen? Apple now 30 times. Microsoft is 33 and a half times. We obviously don't have to go through Nvidia, which is 56 times.