Tesla failed at the monopoly grab that most VC funded tech companies depend on for their "valuation" and super-normal profits.
Cars have no network effect as the roads are open standard accessible to any vendor and Tesla never had any secret sauce that kept well funded competitors from competing.
Once the big traditional manufacturers started taking electric cars with diver assist features seriously they had the skill and money to match(and in some cases exceed) Tesla and that means Tesla will have to price
their cars competitively.
network effects and the broader value network are the big ones. without creating and then exploring that network, you're just a hot new product until someone else catches up.
put another way, it's not just making cars, it's making the ecosystem. every phone after the iphone was trying to be the iphone, for example.
for Tesla, it would have been something like getting charging stations everywhere, and getting the 3 price so low that they become ubiquitous. then the Hertz buy might have made sense, you'd see taxis everywhere switching (and they kind of did in some cities), and stronger adoption outside of tech-bro cities.
Cars have no network effect as the roads are open standard accessible to any vendor and Tesla never had any secret sauce that kept well funded competitors from competing.
Once the big traditional manufacturers started taking electric cars with diver assist features seriously they had the skill and money to match(and in some cases exceed) Tesla and that means Tesla will have to price their cars competitively.