Tesla’s 2024 financial results are out—and they’re terrible

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I believed him at first, why wouldn't I? Self driving was starting to take shape, the demos looked good, I assumed what he was saying was legitimate.

I remember starting to question things around the time of the Tesla Semi reveal. It didn't make sense to me that you'd use heavy, short range batteries in an industry that runs by driving as far as possible, for as cheap as possible, hauling as much as possible. There were just too many compromises and he didn't give any details other than acceleration (who cares in trucking).

After that I started looking into him more and realized his bullshit spread through everything he touched. I honestly think most people are simply not paying attention to him, they just read headlines and since headlines never call him out and only amp up the crazy ambitious things he says, people believe he's a genius.

That seems to be slowly changing as he opens his stupid mouth about politics, but he's pivoting to a new audience now.

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Value investing is basically dead, isn't it?

You're looking at a too short time frame. The famous tulip bubble lasted for a decade, too.

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How does the first exclude the other? That's like saying: how can I trust train travel if F1 cars drive 300km/h. They're different things.

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This is the reason they're legislating against all the Chinese EVs that are 90% as good for 40% of the price.

A brand new 12-15k electric car from a competitor would evaporate Tesla's bubble so quick.

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It's a memestock now. Aspirational tech-bros are buying it because they want to own the libs, too.

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Yeah but then it’s not teslas fault. That employee didn’t do their job and can be fired

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As an owner of a recent one, but before Musk’s issues got so hard to ignore, it has good quality, as did everyone I look at. Tesla had some very well publicized quality issues, when they were hand-building the first vehicles, scaling up the model 3, and trying to build the very different technology of the cybertruck, but their normal, recent cars seem fine

As a gadget freak, teslas have many features that just don’t exist on other vehicles. Has any other manufacturer even gotten over-the-air updates right?

Several of the other vehicles you mentioned aren’t available in the US. We can expect increased protectionism so they never will be.

At least at the time, my Tesla was the lowest price EV with capabilities I wanted. The incentives made a huge difference but I don’t think it would qualify anymore plus they appear to be getting cancelled

We did have a wave of vehicles expected over the next couple years that may give some competition, if those legacy manufacturers don’t retreat to selling ICE trucks and SUVs only. However GM botching the Trailblazer, and Volkswagen screwing up the software on their attempts do not bode well. Hyundai/Kia has some good possibilities. The high end has several good possibilities but for too high a price and too low a volume

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All too often neither the size of the profit nor percent profit really matter. The important criteria is “compared to plan”.

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Historically they were technically right. Tesla has always been priced by emotion rather than fundamentals. However it’s not enough to be technically correct when you lose money on that bet. And they almost always lost money.

It’s always been a bubble but that has lasted much longer than most bubbles and no one can predict when it’s pop

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I believed him at first, why wouldn’t I?

Admittedly so did I.
I agree the Truck convoy claim to be cheaper than trains were so obviously bullshit, I was beginning to get on to him by that time, but if I wasn't sure before that, I definitely agree at that time it became obvious that he is a fraud.

headlines never call him out and only amp up the crazy ambitious things he says, people believe he’s a genius.

Absolutely, it's so bad much of the media are essentially complicit.

That seems to be slowly changing
Here it's changing fast, it may be tomato - tomato, but some claim Tesla is still the best option, despite all the bullshit.
But we recently had a report on how Tesla had record high failure rate on mandatory safety checks after 4 years here in Denmark. So maybe that will detract from the "best option" bullshit.
Tesla claims to have cheaper servicing, but if the cars aren't legally road worthy, when adhering to manufacturer service recommendations, that's just another bullshit claim.

I've seen reviews where they point out cheaper maintenance of Tesla as a HUGE advantage, making them cheapest car to own in their category. This has annoyed me a little, because I'm a little bit in love with the Skoda Enyaq, but it cost about twice in maintenance than a Tesla Y. Well maybe there's a reason for that, and it doesn't annoy me anymore. Because if you follow recommendations for the Skoda it's actually maintained, the Tesla is not. The same for all other VW family cars, they are a bit expensive to maintain, but I've NEVER heard about problems like with Tesla on safety on any VW-group car.

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Tesla’s 2024 financial results are out—and they’re terrible