I've been watching a walk-through of the Beijing auto show. It's the Cambrian explosion of EVs. There are way too many brands. It brings to mind when everybody

I've been watching a walk-through of the Beijing auto show. It's the Cambrian explosion of EVs. There are way too many brands. It brings to mind when everybody was starting a PC company. But underneath all of that, there is a horizontalized ecosystem just like in the PC business. That will endure. One thing I'm pretty certain of, is that long product lifecycles are not the answer. If Tesla sales go into a decline that lasts several quarters, that would be the opportunity cost of Cybertruck.