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@TBPInvictus right here:
Again in December 2022, I hypothesized that Elon Musk’s antics and his newfound want to personal the Libs had been going to destroy Tesla’s enchantment to lots of his most necessary patrons.
The newest information confirms these sentiments had been on level.
I checked out 2020 voting information and TSLA registrations in counties all through the state of New York, and theorized as follows:
Watching Musk’s ongoing antics, it has develop into very clear to me that his actions will not be solely destroying Twitter, however the collateral injury is taking Tesla down with it – a veritable twofer of ineptitude and rake-stepping. […]
My thesis is that in Musk’s newfound want to personal the Libs, he’s alienating the very individuals who have overwhelmingly been patrons of his EVs.
Think about who the everyday Tesla purchaser has been over the last decade earlier than he started to personal the Libs: You’ll describe them as individuals who don’t suppose international warming is a hoax; they’re early adopters, prepared to pay extra for an EV versus an ICE automotive. Pretty much as good as Tesla’s supercharging community is, it’s nowhere close to the infrastructure buildout of gasoline autos, it will possibly nonetheless be inconvenient on 300+ mile journeys; though to be honest, ICE infrastructure has had a century head begin. These of us need to go away a greater world to their youngsters; they’re realists concerning the risks offered by local weather change, they usually suppose people could make a distinction by way of their private decisions. Oh, they usually imagine in science.
It isn’t that this group is completely Democrats, however draw a Venn diagram with the parents I described above and Dems, and the overlap is important.
Now comes the Wall St. Journal with the headline: Elon Musk Misplaced Democrats on Tesla When He Wanted Them Most
The proportion of Democrats shopping for Tesla autos fell by greater than 60%, in line with automotive patrons surveyed in October and November by researcher Strategic Imaginative and prescient.
I’m not one who’s sometimes inclined to take a victory lap, however this one feels prefer it was so apparent to see coming by bringing collectively information from very disparate sources and nailed the eventual final result.
In case your politics places you on the alternative facet of the NYT/Paul Krugman, how do you reconcile that now Murdoch’s WSJ has come to just accept this relaity as properly…?
BR provides: What makes this so perplexing is what an unforced error this has been. Musk moved the whole auto business in the direction of electrical, he had amassed huge goodwill and had a built-in buyer base that was very loyal. All he needed to do was not screw it up, which — apparently — was a bridge too far.
At its peak, TSLA was price $1.29 trillion; immediately, it’s $448.9 billion:
That may be a 65% lower in market cap + worth:
After all, there may be way more competitors immediately, and Tesla’s designs are getting outdated, and looking out just a little stale. Their big decade-long software program benefit is now in all probability someplace within the 2 -4 yr vary.
A minimum of it can make for an interesting HBS case research sooner or later…
Supply:
Elon Musk Misplaced Democrats on Tesla When He Wanted Them Most
Tim Higgins
WSJ, April 20, 2024
How you can Destroy a Model, Musk Type
Paul Krugman
NYT, Dec. 30, 2022
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