> Tesla has single-handedly doubled the value of the automobile industry in a year when overall volumes and sales shrank. [...] It could be that half the assets

> Tesla has single-handedly doubled the value of the automobile industry in a year when overall volumes and sales shrank. [...] It could be that half the assets (all the other automakers) are worthless. Maybe by just looking at the market capitalization, but it could also be that there's so much capital chasing fewer opportunities that the market is overvalued compared to a few decades ago.