As an owner who experiences the “joy” of dealing with a tesla on a daily basis it’s simple: Tesla is over-valued. There’s so many little gotchas and shortcuts taken that I find it impossible to believe this company is worth what people claim it is on paper. The theoretical wealth of this company stems from consumer/investor ignorance in my opinion. That’s why he hasn’t acquired more of his competitors, the value can’t be realized, it needs to stay bottled up as “potential” for lack of better words.