These are great examples. SpaceX is an aerospace company and Tesla's price and hype are based on
not being a manufacturing company (Elon touted it as a transportation tech company and not a car company from the beginning). If either were valued as manufacturing companies, their valuations would be in line with traditional peers.
My point is, if you want manufacturing to return, we need American FoxConns, and that means literally 2% margins [1]. We can't rebuild onshore manufacturing with overhyped companies alone.
[1] https://www.foxconn.com/en-us/investor-relations/financial-i...
