There's also no moat because zoox and waymo will compete and absorb /reduce any profit that Tesla finds if they ever deliver a working system. waymo has been sc

There's also no moat because zoox and waymo will compete and absorb /reduce any profit that Tesla finds if they ever deliver a working system. waymo has been scaling and has 250k paid rides a week. It's just not that expensive or hard to add sensors to an existing car and use a new platform. Byd and other Chinese automakers have similar fsd with lidar for $30k or less. It's certainly true that Tesla can crank out a lot more cars as their factory utilization goes down by the day. The millions of immigrants with low cost vehicles driving for Uber are also going to be hard to outcompete.