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Open original source ↗Great thread (w/receipts) on the absurdity of the implied Robotaxi and Optimus valuations for $TSLA. Preview: Even if they come to fruition, both are low-margin businesses(we agree).
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$TSLA will underperform the MAG 6 on average over the next 5 & 10 years. It sells hardware, has no pricing power, low incremental margin, low gross margin and low ROIC. Autonomous and Humanoid will not change this. Inherently a low quality business on a P/E of ~250x. A 🧵1/25 https://t.co/BihuXpj9gJ
LostFundamental ↗