• Ilovethebomb@sh.itjust.works
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    10 months ago

    The price isn’t based on what the company is worth, it’s based on what people think the company will be worth in the future. Clearly, a lot of people believe that truly autonomous vehicles are just around the corner, and AI is going to revolutionise everything.

    They’re most likely wrong, but it will take a long time for the market to accept that.

    • Hector@lemmy.worldBanned
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      10 months ago

      No rational person would think that Tesla would command the majority of that market of autonomous vehicles, robots, or whatever. Especially not after their Flagship truck turned out to suck in like 20 different ways.

    • suicidaleggroll@lemmy.world
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      10 months ago

      it’s based on what people think the company will be worth in the future

      Not a single person in their right mind thinks that Tesla will ever be worth its current $1.3T market cap. Stock price is based on whether the market movers (not you or I) think that the price will be higher or lower a few weeks/months from now, that’s it. The actual intrinsic value/worth of the company makes no difference.

      • Ilovethebomb@sh.itjust.works
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        10 months ago

        As someone on r/Wallstreetbets once said, I can stay irrational longer than you can stay solvent.

        There’s enough people who genuinely believe the company is worth that to keep the value high for a very long time.

        • suicidaleggroll@lemmy.world
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          10 months ago

          There’s enough people who genuinely believe the company is worth that to keep the value high for a very long time.

          I don’t think there are. I just think there are a lot of people who believe they’re going to be able to get in and out before the Tesla bubble pops. Actual, realistic value of the company has nothing to do with it.

      • jordanlund@lemmy.world
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        10 months ago

        For those of us who have been around the block a few times, AI is going to just be invisible in a few years, replaced by the new marketing buzzword, probably “Quantum”.

        Source: Seen it before when the word was “Cloud”. Oh, it’s all in the Cloud! Cloud, cloud, cloud.

        Before that it was “Virtualization”. It’s going to make everything more efficient!

        Man, I need to make an AI powered quantum cloud virtualization.

        • Womble@piefed.world
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          10 months ago

          Quantum entangled communications that are impossible to evesdrop on exist now, cloud computing is the money machine that allows Amazon to keep expanding, virtualisation is used by effectively every company using computers at scale. (blockchain, I’ll admit, was pretty much all hype and vapourware other than laundering drug money and allowing speculation)

          Just because there is marketing hype around a term doesnt mean there isnt anything of value there.

          • jordanlund@lemmy.world
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            10 months ago

            And yet nobody is currently talking about them, having the marketing push replaced with AI.

            In a few years, AI tech will be silent, behind the scenes, and if anyone mentions it at all it will be “hey, remember when everyone was talking about AI?” while we’re all removed about the new marketing buzzword.

            I’ve been working in tech for 30+ years and involved in tech for close to 50 now. I’ve seen this pattern over and over again.

            • eronth@lemmy.world
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              10 months ago

              I mean, it’s not in the news anymore, but it’s definitely talked about. Businesses need to decide if they’re hosting on-prem or in the cloud, and if it’s cloud they’ll want to decide which provider, etc etc. It’s just become part of the system.