>An investment in the gigafactory would be more like investing in a new city. It actually results in buildings, but isn't going to be attractive to investors, because... because it isn't a zero sum game.
Sorry, but businesses raise money for capital projects all the time. Tesla, itself, has raised billions to get to where they are today.
Maybe the Money People are smarter than you think, and are looking at the state of Tesla's business and saying, "if we lend them money for a factory they might not even require, will we ever be paid back?"
Of course it's related to the business proposition of investing in those companies. I never suggested otherwise. I'm talking about the consequences of the dynamic.
Most of the money invested in tech (excl early VC money, which is a small portion) very little is "true" capital investment. It's like the difference between investing in swappable corn notes and investing in seed corn which is going to be planted. One results in more corn. The other might be more profitable, depending on the year.
Sorry, but businesses raise money for capital projects all the time. Tesla, itself, has raised billions to get to where they are today.
Maybe the Money People are smarter than you think, and are looking at the state of Tesla's business and saying, "if we lend them money for a factory they might not even require, will we ever be paid back?"