Automobile manufacturers shipped 88 million cars in 2016. Tesla shipped 76,000. Yet Wall Street values Tesla higher than any other U.S. car manufacturer. What explains this more than 1,000 to 1 discrepancy in valuation?
The future.
Too many people compare Tesla to what already exists, and that’s a mistake. Tesla is not another car company.
At the turn of the 20th century most people compared existing buggy and carriage manufacturers to the new automobile companies.
