Elon Musk Refutes PayPal Co-Founder's 'Law,' Claims Peter Thiel Refused to Fund Tesla at Onset
Portfolio Pulse from Anan Ashraf
Elon Musk refuted Peter Thiel's 'law' that a startup messed up at its foundation cannot be fixed, citing Tesla's growth from a 'messed up' beginning to a market cap of approximately $750 billion. Musk also revealed that Thiel passed on funding Tesla when it was valued at $70 million. Tesla's stock has risen over 18,000% since its IPO in 2010, closing at $234.30 on Friday, with Musk hinting at the potential for Tesla to reach a trillion-dollar valuation in the future.
November 20, 2023 | 7:22 am
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Elon Musk's comments on Tesla's past struggles and its significant growth, as well as the potential for reaching a trillion-dollar valuation, could reinforce investor confidence in the company's future prospects.
Musk's positive remarks about Tesla's ability to overcome initial difficulties and his hint at a future trillion-dollar valuation could be seen as bullish signals by investors. The historical anecdote about Thiel's decision not to fund Tesla adds a narrative of triumph over skepticism, which may further inspire investor confidence in the company's trajectory.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100