Market cap is the wrong number for auto companies. They are more debt financed than equity, especially relative to Silicon Valley. Ford has four times the deb

Market cap is the wrong number for auto companies. They are more debt financed than equity, especially relative to Silicon Valley. Ford has four times the debt that it has equity. Enterprise value (debt plus equity) is a better measure. The other thing that gets lost is jobs in the supply chain. This may not change the end conclusion, but the existing methodology is flawed.