Tesla was there first but the legacy carmakers are catching up quickly. They're like Netflix - huge stock valuation based on the idea that being the first big disrupter matters when the barriers to entry aren't that high.

There's nothing special about Tesla when Hyundai and Volkswagen are already making electric cars that are as good or better and others are not far behind. These companies already have the capacity, the engineering staff, etc. and they aren't run by sociopath dude bros. Tesla's real value is a fifth of its current market cap at best and most of that is the energy side. That's why I expect them to eventually sell the vehicle side to the Chinese.