Did the Tesla story ever make sense?
Maybe Elon Musk’s company never deserved that sky-high market valuation
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Tesla sales have depended at least in part on the perception that chief executive Elon Musk (above) is a cool guy, the writer says.
PHOTO: REUTERS
Paul Krugman
If you’re one of those people who bought Bitcoin or another cryptocurrency near its peak in the autumn of 2021, you’ve lost a lot of money. Is it any consolation to know that you would have lost a similar amount if you had bought Tesla stock instead?
Okay, probably not. Still, Tesla stock’s plunge is an opportunity to talk about what makes businesses successful in the information age. And in the end, Tesla and Bitcoin may have more in common than you think.
