John Stepek

I mean, I suppose one thing I've been thinking, and I know, again, I'm not unique in suggesting this, but if anything might, for want of a better word, break passive investing, this could be the thing that does it.

Yeah.

In terms of tilting...

I guess you've already got a huge sector concentration.

I mean, so if you just lump another massive AI company in on top of the rest of them, then you're kind of turning the indices into one big concentrated bet on a very specific company.

And then also that's where a huge chunk of not just the US, but the world's pension money is sitting as well.

It's astronomical.

I mean, you're right.

I mean, it is interesting because I do think that Musk then, he clearly has an extraordinary talent and he has built some extraordinary companies.

And, you know, for all that he's got, his critics, he's also not just, you know, he's not a chancer in terms of.

No, definitely.

There's a lot of concrete stuff behind him.

And I suppose the other interesting thing with Tesla is that even though now, I mean, I think it's fair to say it is the company that put the electric car on the map.

And without him, the electric cars would almost certainly not have taken off.

There's a kind of historic counterfactual there.

And anyone that cares about the environment should probably be very grateful to him, in fact.

But now Tesla has competition from lots of other electric car manufacturers.

It also is competition from lots of other self-drive manufacturers.

And yet it still manages to not succumb to any kind of fundamental, I suppose.

And that, I mean, as you say, it's one thing to think, I mean, you might have faith in SpaceX because of Tesla defying gravity all the time.