Forget Self-Driving Cars. This Company Just Flew Passengers Over New York City. And the FAA Approved 9 More States

Joby Aviation is progressing faster than expectations for near-term air mobility, completing point-to-point eVTOL demonstration flights between JFK and Manhattan in under 10 minutes. The flights connect heliports and involve a charging partnership at East 34th Street Heliport. Joby already operates passenger routes in New York and Southern Europe through the Blade acquisition, with first paying passengers in Dubai. White House support is described as pivotal for approvals in additional states after the FAA opened the door to nine more states. In contrast, Tesla’s recent results show modest revenue growth, rising operating expenses tied to AI and R&D, low net profit margin, and declining net income, alongside a very high valuation and delayed product catalysts.

"Everyone is still looking at Tesla ( NASDAQ:TSLA | TSLA Price Prediction), because the robotaxi is always six months away and Optimus is always one demo away from changing the world. But the more interesting flight path is happening elsewhere. While Tesla bulls keep paying 405 times earnings for promises pushed into 2026 and beyond, an actual eVTOL aircraft just ferried paying-curious passengers between JFK and Manhattan, and the FAA quietly opened the door to 9 more states."

"Tesla's Q1 2026 revenue grew 15.8%, barely beating estimates, with EPS of $0.41. Operating expenses, meanwhile, surged 37-50% year over year on AI and R&D spending that has yet to produce a deployed Cybercab, a saleable Optimus, or unsupervised FSD. Net profit margin is 4.0%. Return on equity is 4.9%. You are paying a price-to-free-cash-flow ratio of 265.9 for a car company whose own insiders are net sellers and whose Optimus release probability by year end sits at 13.5%."

"Joby just completed the first point-to-point eVTOL demonstration flights in New York City, connecting JFK to Manhattan heliports in under 10 minutes. That is a flying aircraft with a charging partnership at East 34th Street Heliport. Through the Blade acquisition, the company is already operating passenger routes in New York and Southern Europe, with first paying passengers in Dubai"

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