The Prof G Pod with Scott Galloway No Mercy / No Malice: Tesla WTF
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Oct 19, 2024 The podcast dives into the contrast between SpaceX's successes and Tesla's CyberCab letdown. It questions Tesla's AI-driven narrative amidst declining car sales and compares Musk's ventures to WeWork. The discussion highlights challenges in the electric vehicle market, like charging infrastructure and competition from lower-priced brands. Skepticism around Tesla's ambitious plans for autonomous driving is explored, alongside their market position and a nod to future innovative storytelling.
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Tesla's Deceptive Valuation
- Tesla's "robotaxi" event was a deceptive tactic to maintain its inflated valuation.
- The market didn't buy it, resulting in a $60 billion drop.
Tesla's Misleading Categorization
- Tesla is overvalued because it's categorized as an AI/robotics company when its core business (94% of revenue) is automotive.
- Despite Musk's claims, Tesla remains primarily a car company.
WeWork's Valuation Collapse
- WeWork's valuation plummeted after investors realized it was a poorly managed real estate company, not a tech company.
- This illustrates how inflated narratives can lead to market corrections.