Few investors understand the enormous difficulty involved in switching from manufacturing ICE vehicles to EVs. Tesla has widely automated their vehicle manufacturing facilities, which has resulted in substantially higher operating profitability than its larger ICE vehicle competitors.
The goal isn't to use less energy, or even to just replace fossil fuels. The goal is vastly more energy, to help more people live better lives, and to make it all clean.
Yesterday, there was a wall of Tesla patents in the lobby of our Palo Alto headquarters. That is no longer the case. They have been removed, in the spirit of the open source movement, for the advancement of electric vehicle technology.
Web 3 introduces a powerful new tool for bootstrapping networks: token incentives.The basic idea is: early on during the bootstrapping phase when network effects haven’t kicked in, provide users with financial utility via token rewards to make up for the lack of native utility.
Our true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world’s factories every day.