Earlier this month VW hosted its Power Day.

The markets liked what it heard.

Teaching an old dog new tricks is hard.

And takes a long time.

Is Elon worried?

I doubt it.

I like the way ARK put it.

“In ARK’s view, companies with ‘old world DNA’ are unlikely to transition quickly enough to dominate the new world. Often the difference between old and new world DNA are plans for linear as opposed to exponential growth trajectories. Tesla’s stated goal for 2030 is three terawatt-hours of annual production, 12.5 times more than VW’s 240 gigawatt-hours. In an exponential world, companies thinking linearly could be left behind.”

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