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Tesla & SpaceX Lost $420 Billion In Market Cap This Week — Didn’t Have To Be This Way

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Tesla & SpaceX Lost $420 Billion In Market Cap This Week — Didn’t Have To Be This Way

Many of you may remember that Tesla and SpaceX got significant boosts early on in their corporate lives from the Obama administration, the Democrat-controlled House, and the Democrat-controlled Senate. There’s a solid chance these companies would no longer exist today without that early support. Democrats in California and in the US government were also critical to consumer support for electric vehicles, air pollution standards for electric vehicles, and carbon credit markets that have led to billions of dollars of revenue for Tesla. Tesla would most certainly not have been able to rise and evolve as it did without all of that support — and, again, it’s questionable whether the company would have ever gotten profitable and been alive today if it didn’t have that strong support from Democrats. Republicans in power have not been willing to support EVs, put stronger pollution limits on gasmobiles, or require higher levels of fuel economy from automakers. Every time they have all the power of the US government, they go the other direction on these things.

Of course, we know that Elon Musk shifted to the right politically (to the far, far right) after a few things happened. Those key things were as follows:

Overall, historically, Democrats have been the ones who have pushed strong policies in support of the clean technologies Tesla develops and sells. However, because of the above (as well as a ton of seeming corruption and anti-democratic, oligarchic influence), Musk has been one of the top funders and campaigners for the Republican Party in recent elections.


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