This week Tesla made two very wise and timely maneuvers.
- The obligatory “we’re not worthy” comment. Musk feigned humility by saying Tesla has no right to deserve its valuation. (He also says Tesla will be worth as much as Apple, so whatever). But here’s the trick: He used the exact same wording he used years ago, when TSLA sold for $170. The press predictably pointed out the precedent. “Anyone who listened to him missed an 80 percent run,” investors told themselves. “I’m staying in.” So Musk comes off sounding all humble-like, without denting TSLA, by tacitly inviting everyone to ignore him like last time.
- The preemptive blog post about the UAW’s imminent media push. Sure enough, right on cue, out came the tales of woe from the factory floor. Investors reacted with a hand wave and bought more TSLA.
Regarding number 2.
Social media tend to ferret out the truth, often despite the Ruperts of the world. In fact, Tesla credited social media for correcting “misperceptions” during the Tesla fire scare a few years back. So if Tesla were running its factories like prison camps, it would struggle to attract bodies, especially young one, yes? And the company’s image would suffer especially among the social media-savvy young, yes? Instead, Tesla job fairs cause crowd control problems. One was shut down by police. And Tesla’s brand stature among the young could not possibly get better, as multiple surveys attest. Tesla is also the number one stock owned by people aged 25 to 49. Would slave drivers achieve this status?