Bullshit artists, but I hope some of that “AI” money trickles down to fundamental research in neuroscience and cognitive psychology to bring us closer to understanding cognition
I think that may be false and you might just not like Elon though.
A good example is Noam Chomsky and his political ramblings
Many people thought:
1. Elon Musk was a Silicon Valley software guy that couldn't possibly build electric cars or rockets.
2. The Wright brothers were a couple of bicycle mechanics that couldn't possibly build a real flying machine.
3. Steve Jobs was a right-place right-time washed up has-been that could not revive Apple and certainly could not make it the most valuable company on earth.
History is full of examples of smart and effective people transferring their abilities to new challenges.
As well as a good amount of non-bureaucratically/red-tape-restricted financial backing.
Those conditions seem highly likely to be able to produce results compared to other companies in the space - but I guess only time will tell.
For a funnier and maybe slightly less related example like yours though...
There is a surviving Japanese company that made samurai swords for a few centuries or so - they now make nail clippers, and they're some of the best damn nail clippers one can buy on this planet.
They then ventured into making tweezers as well. You would expect that if they can make such amazing and highly acclaimed nail clippers, they can probably make damn good tweezers as well.
Their tweezers are absolutely awful and they've never revised them for as long as they've been selling them.
As for “best and brightest” that won’t help as in terms of understanding cognition we are in pre-science stage, missing that qualitative jump from alchemy to chemistry so to speak.
all you need is a philosopher’ stone and a solid round of financing
Tesla shipped 500,000 cars last year, Ford shipped 2 million[1]. I know Tesla's valuation is sky-high, but I think that is the bullshit OP is referring to. To call them the singular successful US automobile manufacturer is ridiculous.
[1] https://s23.q4cdn.com/799033206/files/doc_news/2021/1/06/For...
https://pbs.twimg.com/media/E9FARebWUAYd5NI?format=jpg&name=...
Many of the production facilities that Ford uses, and huge sunk cost in things like engine production, are not an asset, but a cost in the long term.
Ford will not be making its own batteries, meaning somebody else will make a large part of the profit from each car.
Ford will not make its own self driving tech, so some other company will make that profit.
Ford will not sell its own cars, meaning they will lose large part of the margin on dealers.
Ford is massively invested in things that will be negative assets and has very, very little investment in the things that will matter in the next 5-10 years.
With 50% CAGR the PE ratio does not seem so crazy, if growth were to stop, then yes it is crazy.
PE is literally the worst way to evaluate a company that is growing.
But seriously, that is one of the single worst ways to evaluate a company and instantly discredits anybody that uses it as their primary argument.
I don't think it's out of the realm of possibility that, by the end of the decade, the Ford F-150 could become the best-selling electric vehicle. (Nor, for that matter, is that anywhere near certain. I withhold judgement on whether or not it is probable). If that were to be true, then Tesla's valuation really doesn't make any sense.
- Buy batteries from Tesla
- Buy FSD automation from Tesla
- License Electric drivetrain technology from Tesla
- Ford cars will charge at Tesla SuperChargers
Particularly with licensing it's possible that Tesla would make more profit on an electric F-150 than Ford!
Just announcing a electric version and producing a million of them are quite different.
Even if the F-150 electric becomes the best selling electric vehicle, that doesn't change my point either.
I didn't mean they're the singular successful US auto manufacturer
I meant that they're the first (for production scale that is, sure there are a few here and there making models w/ <1000 to be ever made) created in quite some time that has been successful.
I had no idea they had grown so big compared to other car companies.
https://www.theverge.com/2021/8/20/22633958/tesla-bot-elon-m...
I don't understand how that's "BS"? They're not marketing this to consumers.
It’s been said that AI is surprisingly hard because a lot that’s happening is unconscious, and once you fall into the rabbit hole of chasing it AI becomes a perpetual “5 years away” goal