Sure, and the poster boy for this is Amazon. But if in 1998 Walmart executives had had the insight to recognize that a competitor with much lower costs (just li

Sure, and the poster boy for this is Amazon. But if in 1998 Walmart executives had had the insight to recognize that a competitor with much lower costs (just like themselves previously) would be worth competing with directly, well Amazon wouldn't have been the stellar investment it's been. Will Tesla be as lucky with clueless competitors? Unlikely but, nevertheless will Tesla justify it's current valuation? Probably. Hedging on Musk's continued unabated abilities would be a good idea.