The historical free cash flow (FCF) of EVs essentially reveals the brutal reality of the electric vehicle industry and Tesla's unique position. (A gambling dog style setup, betting on a blowout in US stocks) Key points: 1. Tesla's dominance and J-curve The only success story: The thick red line in the chart represents Tesla. As seen, Tesla was also burning cash in its first 10 years (the curve downward), indicating a significant cash burn during that period, with cash flow once dropping to around -9 billion USD. Crossing the valley of death: However, after about year 12, Tesla successfully reversed course, with cash flow beginning to grow exponentially, eventually reaching a positive 21.7 billion USD. This indicates it has moved past the high-risk startup phase and is now a company with strong self-sustaining cash generation capabilities. 2. The cash-burning abyss of competitors Rapid cash burn: All other colored lines (Rivian, Lucid, Nio, etc.) are below the zero axis, trending sharply downward. This means these companies are currently consuming cash on a large scale and have not yet achieved positive cash flow. 3. Rivian's dilemma: Rivian has burned through 23.2 billion USD in a very short period (about 5-7 years), a figure that even exceeds the total capital Tesla consumed during its toughest times and surpasses Tesla's current accumulated positive cash flow. This shows that the capital threshold for latecomers is higher than that of early Tesla. 4. An alternative perspective: Could @Rivian $rivn be the next 20x opportunity? Today, in 2026, its price is 15 USD... Mark it and set up a bet to see if it pays off. Diversified investment (continuously buying $wal @WalrusProtocol's own) Thanks, stock addicts.