Tesla is doing something we haven't seen since the early 20th century — rapidly building up a new industry. Here's how.
Business Insider120 years later, innovation has given way to consolidation: the automobile, the airplane, and stuff like nuclear power and computers are valued as legacy investments.
General Motors, for example, has seen its shares decline 30% since the beginning of 2020. But the carmaker has actually turned in better-than-expected sales, thanks to the durable popularity of big pickup trucks. Numerous bulls argue that Tesla is, in fact, an innovative tech firm — a new Apple — that merits a Silicon Valley valuation. Bears counter that Tesla is, at base, a car company and should, someday, be valued accordingly.
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