Ken

I try to offer balanced takes, which makes me politically uninteresting, but I wanted to share some thoughts on the recent We, Robot event. Through one lens, Tesla is a public company with a premium valuation that often rides a rollercoaster of momentum. Some investors are 'all in' on the dream, confident that future performance will mirror past successes as autonomy, AI and robotics continue to build on a disruptive, profitable platform already operating at scale. But many investors wanted immediate, tangible details they could underwrite—something they could taste now, rather than imagine for the future. The perils of being a public company. Now, set aside most of the pubco dynamics and look at things from a different perspective. One of the most accomplished entrepreneurs, with more financial resources than anyone else in the world, just gave us a decent glimpse of his vision for the future. Whatever your take on the CyberCab, RoboVan, or the state of autonomous driving, these concepts point toward a transportation future that is more environmentally sustainable, safer and efficient—with real corporate revenue optionality. Equally importantly, they inject a sense of futuristic excitement that inspires others to embark on similar grand endeavors. As for Optimus, the AI-powered humanoid robot, it looked noticeably improved from its last appearance. That is progress. A robot like that, priced similarly to a car, has the potential to be a force multiplier with far-reaching global economic implications. So the guy may be off on his timelines, but at least someone is taking these ambitious moonshots. He has the talented workforce, the resources and the experience to will these futuristic endeavors into reality. And when they do arrive, driving to the supermarket and getting your groceries will likely look a lot different. The world will undoubtedly benefit from it, not to mention his shareholders—and we all will be one step closer to the future we want to live in.