Tesla's valuation is considered ridiculous; success attributed to Musk's storytelling; investors who bought at $200 peak lost money.

I heard all this talk in 2017, heated discussions about Tesla, where it was said that it would lose billions of dollars, go bankrupt, and not be able to repay its debts to bondholders.

But in the end, what actually happened was that as long as the shareholders maintained their trust and faith, Elon Musk was able to sell his shares two or three times, thus ending the controversy surrounding his inability to repay his debts.

And now, what will he say to me? Now, I can not only pay off my debts, but I can also build two more huge factories around the world. Elon Musk, the reason for Tesla's success, and the reason for SpaceX's failure, whose value was immediately halved, is that its stock price dropped to $150.

It's okay, it has recovered, but a lot of...people got in at the peak of the market. They entered at $200. They bought and sold at $100.

This is what I was worried about, and it is exactly what happened, because it was ridiculous in my opinion. But why does it succeed? Because Elon is a skilled storyteller, able to tell a story, and people believe it. I think Tesla's valuation is ridiculous.

Now, I can separate this from my opinion on Tesla's self-driving car, which is that this guy has been promising this for over a decade, keeps postponing it, and then suddenly we discover: "Oh, it's not going to happen this year."

Or "It will happen, but we'll need an assistant to sit in the front seat."