And welcome back to halftime with your we have your ETF edge. We're seeing two big pushes in the industry this week getting very different receptions. Let's jump right into it.Joining me now is independent ETF expert Dave Natig. Dave, thanks for joining us. Thanks for having me.All right, let's start off first. I get back to those two big players diving into the active management arena. We got billionaire investor Ron Baron launching his own fund and lowcost king Vanguard filing for a new fundamentals fund ...

Baron Capital is heeding the siren song of the $12 trillion exchange-traded fund industry after months of deliberation https://t.co/rzbiY3PJp3 ...

Core Viewpoint - Baron is an asset management firm that specializes in growth equity investment solutions, emphasizing a long-term and fundamental approach to investing [1] Company Overview - Founded in 1982, Baron has established a reputation for its active growth investing strategy [1] - The firm originated as an equity research company, which remains central to its operations [1] Communication Note - The account mentioned is not managed or monitored by Baron Capital, and inquiries should be directed through official channels [1]

Core Viewpoint - Ron Baron, a billionaire mutual fund manager, believes Tesla could achieve a $5 trillion valuation within the next decade, significantly increasing from its current market capitalization of $800 billion [1][2]. Group 1: Autonomous Driving and Robotaxi Initiative - Autonomous driving is seen as a crucial factor for Tesla's future growth, with the company actively working on integrating self-driving software into its vehicles [3][4]. - Tesla's robotaxi initiative is expected to be a major revenue driver, allowing consumers to use a fleet of Tesla vehicles for rides or rentals, potentially leading to high profit margins [5][9]. - The Full Self-Driving (FSD) software, available via subscription, is anticipated to generate substantial recurring revenue, enhancing Tesla's overall profitability [6][7]. Group 2: Financial Projections and Market Potential - Each robotaxi could generate between $30,000 to $50,000 in profits annually, suggesting that a fleet of one million cars could add $30 billion to $50 billion in profits per year [6][7]. - The potential for robotaxis to create a stable and lucrative business model could lead investors to assign Tesla a premium valuation similar to high-growth software companies [9]. - While the path to a $5 trillion valuation is acknowledged, it is emphasized that achieving this goal will not be straightforward and will depend on various factors [10][12]. Group 3: Competitive Landscape and Challenges - Questions remain regarding how Tesla's robotaxi service will compete with established players like Waymo and whether Tesla will partner with or compete against ride-hailing services such as Uber and Lyft [14]. - The regulatory environment for robotaxis is also a significant consideration that could impact the feasibility and success of Tesla's initiative [14].