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Robots, Competition and Total Addressable Markets.
Blain’s Morning Porridge April 21st, 2026 – Robots, Competition and Total Addressable Markets.
“When Henry Ford made cheap, reliable cars, people said, ‘Nah, what’s wrong with a horse?”
Past performance is not a guide to the future. Tesla trades on a massive PE because folk believe Elon Musk will repeat his success in EVs across AI, Capacitance, Robotaxis, Autonomous Driving and Robotics. But hype, showmanship, undelivered promises and increasing competition are leaving his ventures in the literal rear-view mirror.
I am indebted to my chum Mark Blyth, Professor of International Economics (and…
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