Here’s what’s important about Tesla Investor Day

I should start by saying that I’m not a Tesla investor — or maybe I am, I don’t know. My investments have been managed through an index fund for a long time now, not only because it seems to me the best way to get consistent long-term returns (lest we forget, as a Nobel prize demonstrated, nobody beats the market), but also because it saves me from having to disclose whether or not I invest in the companies I write about.

In any event, I’m not going to write about whether the 2023 Tesla Investor Day was good or bad for the company, whether its stock went up or down, or whether there was a lack of clarity about its stated targets. Analysts’ reactions, frankly, bore me, mostly because I don’t believe the vast majority of them are smart enough to understand the magnitude of what happened. If you want to see for yourself, I recommend a condensed video of the event, the first third is relevant, from the beginning to minute 14:20. I really recommend watching that quarter of an hour, and not because Elon Musk is a good speaker; in fact, he is terrible.