Part 8/17:
He criticizes Tesla's delays in robot production, leadership departures, and the fact that its stock remains elevated despite these issues. Tesla's valuation is compared unfavorably to legacy automakers with lower multiples, such as Ford, GM, and BYD, which produce more vehicles at lower costs. Scott predicts that Tesla's stock could drop by 40% or more by Q1 2026, emphasizing that the current valuation is driven more by speculative fervor than fundamentals.