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In this final choice, electing to hype a nonsensical robotaxi using a thoroughly debunked approach to driving automation instead of shoring up Tesla’s crumbling core car business, we see the logical conclusion of what this story has always been: a gambler who found himself in an industry that bankrupted most (if not all) of its gamblers a century ago. Tesla didn’t get this far by following the proven paths of success in the capital-intensive low-margin auto business, and it’s likely that doing so now would have alienated as many investors as failing to do so has. First in China and casino babu88 then Europe and the US, Tesla continues to prove that interior and styling refreshes can’t revive in the face of crushing competition. Then again, to reinvest in new versions of the Model S/X and 3/Y would have required huge amounts of capital and may only have served to defend market share rather than return Tesla to the heady growth levels that its investors have grown comfy taking for granted. Sure enough, nearly five years after the release of my book, which argued that the specific aspects of Tesla’s culture and approach to EVs were more important than the abstract theories underlying the bull narrative, the view that equated betting on Tesla with betting on EVs more broadly has fallen apart.