China is the world's dominant manufacturing and hard-engineering power β best-in-class in batteries, optics, metallurgy and factory automation, and in control of raw-material feedstocks β while the US has hollowed out its own engineering/manufacturing capacity and is now strategically dependent on China.
The current wave of hyped IPOs is structurally rigged to enrich insiders and underwriters at retail's expense, so the newly-public 'everybody's cheering for' names are overvalued and will crash after the pop.
Tesla successfully scales unsupervised robotaxis (Cybercab) and Optimus humanoid production while legacy automakers collapse and EU FSD approval arrives, resetting the entire transportation and labor stack.