Wall Street is quietly retreating from its enthusiasm for Tesla's self-driving car plans
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But then, suddenly, there was a massive shift. Alphabet launched Waymo, its self-driving service that had been known as the Google Car project, and General Motors bought a San Francisco startup, Cruise Automation, and began the process of transforming it into a $20-billion standalone autonomous-mobility business.
Musk doesn't mind surfing the buzz. But despite the 90-degree inflection of Tesla stock chart since last October, Wall Street is starting to wonder if Autopilot can really advance to being a technological and business-model competitor to the leaders at the moment. That could be Tesla's fate. On the ride-hailing/sharing side, however, autonomy promises to create much more lucrative opportunities. It's the business to bet on for the 2020s, much as Tesla was the electric car play in the 2010s, rising from less than $20 per share post-IPO to over $630 per share a decade on.
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