I don't think value investing is dead but tech sure does throw up a sort of different path....if one gets it right. The winner takes all, or most of it a lot of the time, first movers seem have a better chance of success as long as they continue big R&D spend and continually update and take out smaller threatening competitors to consolidate the space say like ACX did. I suppose Tesla can't take out competitors in the same way like Ford etc but it can be more productive i think and he's a great marketer.
I'm seeing more and more Tesla's on the road, i've got no idea who buys them and why people buy them compared to a normal car but they're a seller. I suppose lots of government climate propaganda helps Tesla a lot too.
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