> Low-margin yes, but is the motor vehicle industry really so well run? My understanding of different businesses is this: If you are in a high-margin industry,

> Low-margin yes, but is the motor vehicle industry really so well run? My understanding of different businesses is this: If you are in a high-margin industry, you can screw up and still be around and maybe even thrive (think Coca-Cola/MS and their ventures into so many fields). If you're in a low-margin business, you're already walking on thin-ice and have to be operationally great. That tilts the odds against many of the newbies. Of course, I don't want to comment on Tesla's operational capabilities or write it off like Prof Galloway does.