Remember when bashing Tesla was all the fashion? When Elon Musk had to defend himself from shorters and haters on a daily basis? When free-market types cursed the company’s dependence on government subsidies and rent-seeking, and considered it a market abomination? When even the most optimistic analysts couldn’t make the share-price valuation work?
Well, it’s amazing what a year and another Tony Stark movie can do.
To summarise the contents of our inbox apropos Tesla today:
Behold Tesla, our new market darling, against which no bad can be spoken of anymore.
Your initiation period has finally come to an end, and…BAZINGA! Turns out we were gunning for you all along.
How wrong you were to doubt us. Or to think those snarky comments about your prospects were for realz. SUCKER!
If we were hard on you, it was only because we wanted to make you the great company you have now become.
The time has finally come to deem you officially worthy of a place amongst the disruptive greats, Ford, Google, Apple, Amazon et cetera.
We understand the power of your model. And apparently so does Apple. We don’t even mind that the government is involved. You’ve got sales and the sort of roll-out potential we’ve hitherto only imagined for smartphones.
Now that we’ve really understood your vision, we can see you’re not just going to disrupt cars, you’re going to disrupt everything. What’s more, we don’t even care there’s no place for market capital in the utopian world you’re advocating, or that your success implies our downfall.
Don’t believe us? Here’s a mug we had made to show you just how much we care.
Your greatest fan,
P.S. This isn’t just us being fickle. We are true believers now. At least, of course, until we’re not.
So, as they say, first they ignore you, then they ridicule you, then they fight you, and then you win.
Either way, further proof markets don’t necessarily see a good thing coming until it’s stepped right on their toes.
Thankfully, in today’s markets, it’s all about a “there can be only one” strategy.
Though, of course, in an attempt to find *the one*, we’ll still create a million rubbish businesses that have the life expectancy of mayflies.
One point to note, if Nikola Tesla’s career trajectory is anything to go by here, we guess there should be a Tesla factory fire incident coming right about…. oh hang on, perhaps that historical parallel has already come and gone?
Guess it’s only JP Morgan or GE who can steal Tesla’s thunder now.