The Future Fund LLC Managing partner, Gary Black and a long -term Tesla Inc. Tsla Bull, challenges conventional wisdom among Tesla investors with regard to the future of autonomous rit-hailing and Uber Technologies Inc.S Uber position in the market.
What happened: Black pulled a fascinating parallel between the potential shift from Uber to vehicles without a driver and Netflix Inc.‘s Strategic Pivot in 2007.
In a message on X, Black wrote: “The best analogy with Uber is Netflix, who disrupted his own DVD supplies company in 2007 to embrace streaming as Uber will disrupt his own Ride-Hailing company to go by director without a driver,” Black added. “Many Tesla believers miss this.”
Black has previously argued that companies for sharing journeys such as Uber and Lyft Inc. Lyft Is considerably benefited from autonomous technology and claims that activities without director can lower the costs from $ 2 per mile to $ 1 per mile. He emphasized that the existing Uber network of 24 million active riders gives it a significant competitive advantage.
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Why it matters: Although it is a Tesla investor with a target of $ 310 on the shares, Black has become increasingly critical of certain Tesla stories. He challenged the CEO of Tesla Elon MuskThe 20 million vehicle delivery objective for 2030, with the consensus of Wall Street now closer to 3.9 million units.
Black warns that Tesla “cannot just make a network of 24m active riders” at night and that competition between several players in the driving market without a director can mean that Tesla may not earn any money from Ride-Hailing. “
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