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--></style></head><body lang=EN-US link="#0563C1" vlink="#954F72" style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt'>I find the OpenAI purchase attempt strange. He must really have an inferiority complex, since xAI has the hardware now to compete.[1] Or maybe they have the money and brawn but not the brains?<br><br>For robotaxis, I’d bet on Waymo not Tesla. Waymo is very conspicuous and popular in San Francisco. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt'><br>[1] <a href="https://www.datacenterdynamics.com/en/news/xai-raises-another-6bn-including-from-nvidia-and-amd/">https://www.datacenterdynamics.com/en/news/xai-raises-another-6bn-including-from-nvidia-and-amd/</a><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt'><o:p> </o:p></span></p><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal style='margin-bottom:12.0pt'><b><span style='font-size:12.0pt;color:black'>From: </span></b><span style='font-size:12.0pt;color:black'>Friam <friam-bounces@redfish.com> on behalf of Jon Zingale <jonzingale@gmail.com><br><b>Date: </b>Tuesday, February 11, 2025 at 9:13 AM<br><b>To: </b>The Friday Morning Applied Complexity Coffee Group <friam@redfish.com><br><b>Subject: </b>Re: [FRIAM] OpenAI and the fight between Elon and Sam<o:p></o:p></span></p></div><div><div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Verdana",sans-serif;color:#333333'>"</span><span style='font-size:12.0pt;font-family:"Arial",sans-serif;color:black'>Apparently, Tesla only managed to show profitability last quarter due to unrealized earnings on Bitcoin. Stock is way overvalued."</span><span style='font-size:12.0pt;font-family:"Verdana",sans-serif;color:#333333'><o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Verdana",sans-serif;color:#333333'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Arial",sans-serif;color:black'>Technically, I would put a short-term (let's say 3 year) fair value around $210 or so, but would likely wait to pay $150-$160. Fundamentally, I would like to see the market cap closer to $300 B.</span><span style='font-size:12.0pt;font-family:"Verdana",sans-serif;color:#333333'><o:p></o:p></span></p></div></div></div></body></html>