4 ms·

I think a large part of the valuation was also the promise of full self driving. Musk repeatedly stated that it would coming "very soon" and Tesla would have be

I think a large part of the valuation was also the promise of full self driving. Musk repeatedly stated that it would coming "very soon" and Tesla would have been the first worldwide with that. Now we know that Tesla will probably not be the first with level 5 autonomy and that their no-lidar approach may not even be sufficient at all. But the belief in their FSD was priced into Tesla's valuation as well and by now it's clear that this part was overvalued.

arcticbull 4y ago
The man did promise FSD was one year away for each of the last 9 years. At some point it becomes a 'fool me 9 times shame on... fool me can't get fooled again' kinda deal. [1] It's just too bad the video montage got struck down. It takes a genuine showman to string people along for an entire decade. [edit1] All while getting them to pay up to $12,000 for software that didn't exist and had no path to existing within the promised timeframe. Textbooks will be written about this bezzle. [edit2] > Bezzle: Alone among the various forms of larceny [embezzlement] has a time parameter. Weeks, months or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in—or more precisely not in—the country’s business and banks. [2] Not suggesting a crime occurred here, to be clear - just the broad shape of what transpired re: FSD rhymes real good. [1] https://jalopnik.com/elon-musk-promises-full-self-driving-next-year-for-th-1848432496 https://jalopnik.com/elon-musk-promises-full-self-driving-ne... [2] https://carnegieendowment.org/chinafinancialmarkets/85179 https://carnegieendowment.org/chinafinancialmarkets/85179

arcticbull 4y ago

The man did promise FSD was one year away for each of the last 9 years. At some point it becomes a 'fool me 9 times shame on... fool me can't get fooled again' kinda deal. [1] It's just too bad the video montage got struck down. It takes a genuine showman to string people along for an entire decade. [edit1] All while getting them to pay up to $12,000 for software that didn't exist and had no path to existing within the promised timeframe. Textbooks will be written about this bezzle. [edit2] > Bezzle: Alone among the various forms of larceny [embezzlement] has a time parameter. Weeks, months or years may elapse between the commission of the crime and its discovery. (This is a period, incidentally, when the embezzler has his gain and the man who has been embezzled, oddly enough, feels no loss. There is a net increase in psychic wealth.) At any given time there exists an inventory of undiscovered embezzlement in—or more precisely not in—the country’s business and banks. [2] Not suggesting a crime occurred here, to be clear - just the broad shape of what transpired re: FSD rhymes real good. [1] https://jalopnik.com/elon-musk-promises-full-self-driving-next-year-for-th-1848432496 https://jalopnik.com/elon-musk-promises-full-self-driving-ne... [2] https://carnegieendowment.org/chinafinancialmarkets/85179 https://carnegieendowment.org/chinafinancialmarkets/85179