I didn't make it past the paywall, but I think this is a pretty silly argument. Yes, the stock might even drop another 50% between now and the bottom of the recession as margins fall to keep demand level. No, the company is going to be just fine. They'll be making huge software-style margins on FSD in 2024 and beyond. FSD has been the better part of a decade in the making, and it runs on every Tesla made since 2019. That's a lot of cars! Hundreds of thousands of people have it, and while it definitely isn't complete yet, they're a heck of a lot closer. My sources are my friends that use FSD in their own cars every day.
The really cool thing about FSD is that the same software is going to take Tesla into whole new markets with the Tesla Bot in a few years. This isn't worth anything to Wall Street right now, but it sure will be in 2027.