Tesla has the valuation of a tech company. Traditional automakers have the valuation of heavy industries. Traditional automaker execs want Big Tech valuations.

Tesla has the valuation of a tech company. Traditional automakers have the valuation of heavy industries. Traditional automaker execs want Big Tech valuations. So they've loaded up their products with tech, in areas they have no track record of delivering, and often without any customer demand. Starting with EVs. Result: overpriced cars that are substantially less reliable. This sloppy delivery will further separate the wheat from the chaff in this space. We already see a narrative from certain automakers that EVs aren't competitive. They should be more specific: their EVs aren't competitive.