Rethinking confidence with Musk at Tesla.

A friend of mine who's been a committed, die hard, long term TSLA investor sold off today (due to the shift in focus to products other than their $25k car, like the robotaxi).

There was a time when Musk being at the reigns was something that gave certain investors confidence, rather than being a liability, but that hasn't been true in a good while.

If it weren't for Musk, Tesla wouldn't currently be the top automaker in the world, and I appreciate him having brought the company to this point. I love my car and still like the company. But I think the best thing for it would be for him to step back and leave it to a board that isn't stacked with his yes-men.

Tesla's market value has always been driven primarily by a belief of some investors of future innovations. It's both baked in, and inseparable. But many investors are starting to lose that confidence.

And... The friend I got who sold off his shares? He's got confidence in Tesla's current base model cars and future ones that are similar. He doesn't have confidence in the robotaxi.

I haven't looked into the robotaxi 's feasibility enough to have a strong opinion, but my point is that some investors have more confidence in the profitability of some innovations but not others... It's not just a belief in Tesla's ability to decide what to pursue on it's own.