Robotaxi is no longer a slide in a keynote. As of this weekend Tesla is running unsupervised rides in Austin with no safety driver in the seat, and the stock added 5% to about $409 on Monday. 🚗

People forget how much of Tesla's valuation has always been a bet on this exact moment. The car business pays the bills, but the re-rating case was always autonomy at scale. Austin going live, even in a limited zone, moves robotaxi from "someday" to "running today." That is a different conversation with the market.

I am holding, not trimming. The thing I am watching now is the rollout pace: how fast does the zone expand, how clean is the safety record, how quickly do other cities follow. If that curve bends up through year end, the current price will look cheap in hindsight. 🇺🇸