Summary of “Economic bubbles are irrational, but we can understand them”

To the extent that Tesla’s stock price reflects Gerber’s story, Tesla is a bubble.
Mrs W C B had constructed her ‘radio story’.
There were many possible radio stories available to Mrs W C B, but she wanted to have her story about the future of radio endorsed by the Tribune’s columnist.
Bubbles form whenever a new story is not only told, but can also be sold.
The 800 essays submitted to Radio Broadcast tell us something about how many different radio stories could be told and sold.
The story of powered flight has been part of human consciousness since the story of Icarus, but the Wright Flyer was not investment grade.
Every good story comes to a close, but speculative bubbles are like open books in the sense that we can never be sure when the story will end.
We do also understand that Tesla’s uber-protagonist, Elon Musk, will tirelessly work to shape the story to prevent a Tesla-failure narrative from emerging.

The orginal article.