Alex drinks a lot of coffee, so he followed up his Friday morning column on Roblox’s $520 million Series H with another story that afternoon questioning Tesla’s sky-high valuation of approximately $822 billion. As ever, I learned something new while editing: a “melt up” occurs when investors start clamoring for a particular company because of acute FOMO (the fear of missing out). Delivering 500,000 cars in 2020 was “impressive,” says Alex, who also acknowledged the company’s ability to turn GAAP profits, but “pride cometh before the fall, as does a melt up, I think.” Note: this story has Alex’s original headline, but I told him I would replace the featured image with a photo of someone who had very “richest man in the world” face. Read more |
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