There's also a Laffer connection if you follow the links

Cathie Woods,  the founder, CEO, and CIO of ARK Investment Management is probably the most prominent and possibly the most influential of the Tesla bulls. Lots of investors, particularly retail investors, put a great deal of weight in her pronouncements, including this one projection.

Cathie Woods predicts Tesla will be worth 300% of the entire auto manufacturing industry within 4 years. They currently have less than 1% market share and lose money selling cars.

Implies all other car makers will file for bankruptcy.#2021Investing$TSLA

— Dean Sheikh (@DeanSheikh1) March 20, 2021

That target has inspired some skepticism.

We are also putting out our new Tesla model and price target. We think you'll find it a little bit more comprehensive and useful than the @ARKInvest model. pic.twitter.com/UOR2Vqx4R8

— ArtkoCapital (@ArtkoCapital) March 21, 2021

That 300% suggests that Tesla will have to find new worlds to conquer. The report lists insurance as a growth opportunity. If you're up for a lesson in how the insurance industry works, this long but dense thread explains why that ain't happening.

I see lots of student company write-ups and pitches. Most are better than yesterday's $3,000 ARK Price Target Report for $TSLA. In reading the report its clear the motivation is to promote a higher stock price. The fantasy involved is simply spectacular... 1/

— Christopher Bloomstran (@ChrisBloomstran) March 20, 2021

FT Alphaville makes many of the same points.

But the Ark projections haven't been falling entirely on critical ears.

Let the pump begin. pic.twitter.com/t3f2CdYHCG

— Keubiko (@Keubiko) March 22, 2021

Woods and many other analysts have done very well embracing Tesla, crypto, and all the other disruptors and their defenders invariably resort to "look at the results" arguments when critics question the projections. With that in mind, let's close with this.

it is logical that at the end of any bull market a team which has embraced the bull (and the bullshit) should be the top perfomers and appear as super heroes.

This is that team.

— John_Hempton (@John_Hempton) March 20, 2021