This seems somewhat counter-intuitive to me. Could you maybe go into how creating a second company, Tesla-2, would have zero effects on the original Tesla's fut

This seems somewhat counter-intuitive to me. Could you maybe go into how creating a second company, Tesla-2, would have zero effects on the original Tesla's future cash flows and stock price? In my naïve view, TSLA's future cash flows have value because the company is expected to sell a lot of cars that: 1. No one else makes (or practically no one, such that TSLA has a majority of market share) 2. Many people want to buy. Now, supposing TSLA would be able to service all the demand for its cars, how would a competing TSLA-2, presumably offering identical cars (or of identical value at least) not affect TSLA's future cash flows? All things equal, if two companies sell products that are basically the same (same quality, price, etc), wouldn't that split the market in two? I wouldn't expect to see people buying twice as many cars because there are now two companies producing them.