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Tesla applies for ride-hailing service in California, but with human drivers
- deleted 2y ago[deleted]
- jerlam 2y agoWhat's the angle here - is Tesla going to tell their drivers to use FSD and then blame them if something goes wrong? Or is this a weird beta test of how their ride hailing/billing software?
- jqpabc123 2y agoThere is no angle here that makes much sense to me. If human drivers are needed, net wages will still need to be comparable to Uber. And I don't think a "blame the driver" liability scheme will work in court. My sense is that most ride share drivers already underestimate their actual mileage costs so Tesla will be hard pressed to significantly out-Uber them (or Waymo) and make tons of money from a self owned fleet. The P/E ratio for Tesla stock is currently around 140. The P/E ratio for Tesla's established competition (auto manufacturers, ride share, etc.) are all well under 20. GM for example currently has a P/E of 8. Uber has P/E of 17. Tesla's share of global personal auto sales was about 2.5% last year but recent reports suggest a significant decline is underway amid increased competition from all sides. https://worldcrunch.com/business-finance/tesla-sales-down-europe-musk https://worldcrunch.com/business-finance/tesla-sales-down-eu... By any reasonable marketplace scenario --- either as manufacturer or yet another ride service provider --- Tesla looks way, way, way overpriced based on current or projected earnings. The stock market goes up like a staircase --- one step at a time. It goes down like an elevator --- controlled freefall. The elevator is waiting for Tesla with the door open in my opinion.