Tesla is impossible to value

Sure, and the poster boy for this is Amazon. But if in 1998 Walmart executives had had the insight to recognize that a competitor with much lower costs (just like themselves previously) would be worth competing with directly, well Amazon wouldn&#x27;t have been the stellar investment it&#x27;s been.<p>Will Tesla be as lucky with clueless competitors? Unlikely but, nevertheless will Tesla justify it&#x27;s current valuation? Probably. Hedging on Musk&#x27;s continued unabated abilities would be a good idea.

I value them at far higher than the market does. See? Not impossible. My valuation comes from intuiting that they will succeed and go on to selling 5M vehicles a year, with industry leading margins because of the embedded software premiums and supply&#x2F;demand imbalance. Also they have a decent probability at getting a large chunk of the TaaS economy which itself looks inevitable and worth trillions. But yeah, if you want to use 2017 P&#x2F;E, good luck.

Then stop trying... let them prove or disprove themselves and we&#x27;ll go from there.