Paul Krugman, winner of the Nobel Prize in Economics in 2008, has recently been noticed for his remarks about Elon Musk and his company Tesla. Very critical of the American billionaire and his entrepreneurial style, Krugman did not hesitate to share his mistrust of Musk, not trustworthy enough to feed his cat.
Musk and Tesla took it for their rank. The latest statements from Paul Krugman, Nobel Peace Prize 2008, did not spare the American billionaire and his automobile company. According to the economist, the success of the American brand famous for its autonomous cars would only be the result of a disproportionate media coverage compared to competing companies. the lack of vision Claire would explain, in part, the poor results of the firm in recent months. ” Did the Tesla story ever make sense? Krugman said.
According to the economist, the American company would follow the same model as the Bitcoin. Overhyped, especially during the pandemic, today both the cryptocurrency and the stock market action of Elon Musk’s baby, would gradually recover its true price. Musk does not escape the clutches of economists either: Given what we’ve seen of Musk’s behavior, I wouldn’t trust him to feed my cat, let alone run a big business. »
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Tesla’s future threatened by worrying results
As a reminder, if from 2020, Tesla stood out and won over consumers thanks to its autonomous car principle, the tide seems to have turned. The stock market action of the American firm (multiplied by 13 between the beginning of 2020 and the end of 2021) today stop diving. A fall of 73% in one year spoils the party at the automaker.
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For the economist, the cause of this setback is simple: the American manufacturer’s lack of vision and network effects. By remaining on acquired css Tesla was not able to take advantage of its temporary success to develop a linked and interdependent ecosystem as Apple or Microsoft were able to do at the time. Much more fragile than these two giants, Tesla could see its future darken according to Krugman. Especially since formidable new competitors continue to gain ground.
Source : businessinsider.com
