Tesla has earned $0.45 per share so far this year, which works out to (at best) $0.90 annualized given Musk's commentary . . . This is an absolutely insane multiple given the current sales and profit trajectory.
I think you are looking at the "now" and Musk is looking at the near future.
Do you believe AI will create near-term fundamental change in the way people live -- sweeping change, like fewer jobs and less need to travel daily to a place of work? More reliance on the government stipend and less need/ability to travel? The "15 minute city" model, which is showing up all over the place, now even in Saudi Arabia as the new paradigm in lifestyle?
“One of my favorite projects right now is a project in Austin called East Village,” Hitchcock Design Group Senior Principal Trent Rush said at the DFW Bisnow Multifamily Annual Conference on Nov. 16 in Dallas. East Village is a $1B, 425-acre mixed-use project rising across from Samsung’s headquarters in the city’s Tech Ridge area. “When you’re talking about the 15-minute city, being able to create and curate this 400-acre activity hub out in the suburbs, where you can get all your services — it’s going to have 1,800 units of multifamily, a ton of commercial, restaurants, three hotels and 1M SF of office — it literally is going to be live, work and play out in the suburbs.”
“Millennials, they like that 15-minute city concept, and if you can provide them the restaurants, the nightlife, the pop-ups, the parks and the open space within that 15-minute walk, they’ll live in a 350-400 SF unit because they’re going to spend most of their time outside enjoying the city,” Rush said.
Douglas Elliman Texas CEO Jacob Sudhoff is seeing the same thing, and said some of the firm’s developer clients are even buying hotels in dense, urban areas and adapting them into small multifamily units. Sudhoff said he thinks many developers are stuck in the past, developing 850 SF one-bedroom units one after the other, but demographic research conducted by Douglas Elliman has identified a major gap in the market for what he called “true efficiencies” of 350 to 550 SF.
To many of us it seems less than ideal, but it truly depends on one's perspective when jobs are not available and one is having to survive on a government stipend.
In this environment, transportation is infrequently necessary. My wife & I just had to buy a car because a tree fell on our car and totaled it. That car will typically be driven 150 miles a month (that, because we live 3 miles from the grocery store she likes). Were she not so picky we could just have them delivered for $10, which would be worth it.
Meanwhile, American adults have all bus STOPPED having children.
If our doctors were not 2 miles in the other direction, why the HELL would we need a car other than for a few times a year riding downtown & back, or the very occasional trip out of town? How would it make sense to own a car at all?
If the objective is to give people a comfortable life in an era of very few jobs, I'm not sure where a car comes into that picture, other than an occasional rental. |
