Gary Black Says Tesla Robotaxi Valuation Overstated, Advocates Market Share And TAM-Based Approach Amid Competition From Waymo - Tesla (NASDAQ:TSLA)

Group 1 - Future Fund LLC's managing director, Gary Black, suggests a new valuation approach for Tesla's Robotaxi, advocating for a total addressable market (TAM) and market share-based method instead of the capacity-driven approach [1][2] - Black warns that while Tesla is likely to achieve unsupervised autonomy, other competitors will also do so, indicating a more competitive landscape [2] - The capacity-driven approach has been criticized for overstating Tesla's Robotaxi value by three to five times [2] Group 2 - Waymo has launched a business fleet targeting enterprises, universities, and private events, potentially expanding the market for autonomous cab companies [3] - Amazon's Zoox is seeking approval to deploy 2,500 driverless pod Robotaxis, which could benefit from proposed revisions to Federal Motor Vehicle Safety Standards [4] - Tesla has received approval to expand its Robotaxi testing operations in Arizona, moving towards more autonomous operations [5] Group 3 - Tesla is facing lawsuits related to its Full Self-Driving (FSD) technology, with customers in Beijing suing for not receiving the service after payment [6] - Tesla scores well on momentum and growth metrics, with satisfactory quality but poor value, and shows a favorable price trend in the short, medium, and long term [7]