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Originally Posted by JohnnyB
I'm not making an argument about fundamental value. I'm just saying how they're valued by the markets, which is about more or less speculative expected returns.
To suggest that traditional auto manufacturers are going to compete with tech companies on tech is silly though. They have organizational cultures with deep roots. Tigers don't just change their stripes to spots and start keeping up with cheetahs.
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This weird thing where people say Tesla isn't a car company is baffling. They are a car company and always have been. They make cars. Cars require tech. ICE's have incredibly complicated programming to run as they do these days. That doesn't make Ford a tech company any more than Tesla is. It's just a thing people say when they can't come up wit a real justification for the share value, because there isn't one beyond the self-perpetuating myth.
And are you saying Volvo, Mercedes, Ford and GM's efforts on driver assistants features are all a technical and cultural impossibility, despite experts in the field saying they often perform better than Tesla? I think that's total nonsense. This companies have decades of experience pivoting to new challenges.