Tsai Capital stated the following regarding Tesla, Inc. (NASDAQ:TSLA) in its Q4 2024 investor letter: "Tesla, Inc. (NASDAQ:TSLA) (TSLA—Year of First Purchase: 2020) We've owned Tesla since February 2020 and initially paid an average of about $41.66 per share5. Tesla is a leading AI company that has formidable competitive advantages across various sectors, including electric vehicles, software, and energy storage. A true outlier, Tesla operates in an entirely unconventional way, often creating market confusion and attracting criticism from short sellers and from those who mistake the company for what it is fundamentally not—a traditional car manufacturer. Under the visionary leadership of Elon Musk, Tesla has adopted a scale-economies-shared business model, deliberately lowering prices, enhancing the customer value proposition, driving adoption, and expanding the total addressable market…"