Reminder that $TSLA returns are best explained by EBITDA, not GAAP EPS.

Since IPO:
r = 0.72
r2 = 0.52
EBITDA annualized growth = 41.7%
$TSLA annualized returns = 47%

No other fundamental line item explains the returns better. Excessive focus on GAAP is why people missed $AMZN. https://t.co/ZK62RtbXY3 https://t.co/uVCcvidHme