This is an idea I do not hear discussed a great deal.
In this video I cover the idea of Tesla as a platform. It is a new look at the company which is focused upon where it is going in the future.
▶️ 3Speak
Summary:
In this video, Task discusses the concept of Tesla as a platform rather than just an automobile company. He highlights that Tesla is more than just manufacturing cars; it operates as a platform that includes elements like full self-driving, infotainment systems, AI, and potentially entering the robot taxi business. Task points out that by viewing Tesla as a digital platform, analysts and investors can better understand its valuation and potential for incremental value.
Detailed Article:
Task begins by emphasizing that Tesla should be viewed as a platform rather than solely an automobile company. He notes that Tesla operates with a different system for purchase and deals with "computers on wheels," which sets it apart from traditional automobile manufacturers.
He explains how various aspects of Tesla's offerings, such as full self-driving technology, infotainment systems, AI, and robotics, can be considered platform-based. Task draws parallels to companies like Airbnb and Uber, which despite dealing with different industries, are fundamentally based on platforms.
The discussion transitions to how valuation models for companies like Tesla are significantly influenced by subscription models, growth models, and digital platform models, all of which tend to value higher than industrial models. Task highlights that the top companies in the market cap ranking are predominantly platform-based, with Tesla representing a shift towards digital platforms rather than traditional industrial models.
Task delves into the concept of incremental value creation within Tesla's platform. He mentions that additions like robot taxis, improvements in AI, videos, and applications for the infotainment package all contribute to this incremental value. By continually adding value through various components, Tesla creates a feedback loop that enhances its overall platform worth.
The video concludes with Task expressing his belief that many analysts overlook the platform aspect of Tesla when making forecasts and valuations. He suggests that viewing Tesla through the lens of companies like Apple, Amazon, and Microsoft could provide a more accurate depiction of its future potential, different from what traditional experts and analysts might project.
In essence, Task's discussion revolves around the transformative nature of Tesla as a platform, highlighting its potential for exponential growth and value creation beyond the scope of traditional automotive analysis. This perspective challenges conventional viewpoints regarding Tesla's future trajectory and underscores the importance of recognizing its platform-based approach in assessing its long-term prospects.
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