Tesla success shows what a bad investment the GM/Chrysler bailout was

Philip Greenspun:

Consumer Reports has rated the Tesla sedan the best car that they’ve ever tested (list). Tesla has a market capitalization of about $14 billion (July 22, 2013). According to Wikipedia, Tesla seems to have required about $1 billion in debt and equity funding.

The GM/Chrysler bailout required roughly $85 billion in taxpayer funds (Wikipedia). Instead of preserving these relics we could have instead have had nearly 85 startup automobile manufacturers on the same scale as Tesla. Wouldn’t that have been a lot more interesting and more likely to push forward the automotive state of the art?