Paul Krugman says Elon Musk's Tesla can never be a 'profit machine' like Apple, because there's no scope for that in the car industry
because there isn't the scope for it to establish an unchallenged monopoly in the car industry, according to top economist Paul Krugman., which has helped products like Apple's iPhone and Microsoft's PCs to establish a dominant market share. The network effect refers to when people snap up a product because they feel that others are gaining exclusive benefits from using it.
"This is not network externalities, where basically people use something because everybody else is using it, and it's very hard to break out of it, and so you get decades of extremely high profits."Rising interest rates have weighed on all tech stocks Musk closed a chaotic $44 billion takeover of Twitter, laid off over half its workforce, and called on his supporters to vote for the Republicans last year. He also repeatedly voiced his support for right-wing conspiracy theories, including calling forKrugman said that Musk's behavior had shown that he's nothing like Apple cofounder and former CEO Steve Jobs – who was famed for his high level of discipline and focus on Apple's products.
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