In my last YouTube video about Tesla, I was skeptical about investing in it. But after diving deep into the company, guess what? I changed my mind! The stock hit a 52-week low sometime this year, so I started buying shares between $140 and $180. Now, it's around $220 (July 30, 2024), so it’s been a decent profit so far, and I'm holding for the long term.

I discuss three main reasons that made me change my mind in this episode:

1. Dude is crazy and uncompromising - it’s a bad trait to be likable but good for business. A big reason for my change was Walter Isaacson’s biography of Elon Musk. It shows Musk as a driven, multifaceted person who, despite being difficult, gets things done. For example, he insisted on unique Tesla door handles, even though it raised engineering challenges and costs, in order to make EVs more desirable, which was his original vision.

#2. Elon really believes in his vision and would do whatever it takes to make it happen. He truly believes in EVs as the future because fossil fuels will run out. His relentless drive to change the world, not just make a profit, is inspiring and a common trait in the founders of groundbreaking companies.

#3. Just like any companies that disrupted, whose growth trajectory, and stock price for that matter, never followed a linear path, neither will Tesla’s. Value investor Christopher Tsai made this critical point. He compared Tesla to Ford's trajectory and impact on the auto industry. Despite challenges, he thinks Tesla is set for success, especially as EVs become inevitable due to limited fossil fuels. In many ways, Tesla is way ahead of its competitors, and therefore will become the ultimate low cost EV manufacturer.

In short, Musk’s vision and the "getting things done" ability, Tesla’s leading position in the EV revolution, and validation from seasoned investors convinced me to invest. Even though I was skeptical before, I now see Tesla as a company ready to shape the future.