Rarely has there been an industry as stable as the car industry. Except for design modifications, the basics of the automobile as a product haven’t changed in half a century. And while the Big 3 of Detroit did face new competition from overseas competitors, the structure of the industry has generally remained remarkably stable as well – at least until the last few years. Ever since the Great Recession, the car industry has changed more in a decade than it has in the last 70 years. Today almost every aspect of the car business is being rethought from the product itself to the business model. And that should make investors in the industry very nervous – change creates risk after all. Tesla is still a very small producer of cars, but their products appeal and Elon Musk’s marketing acumen are sufficiently powerful that every Tesla product gets […]