First principles is kind of a physics way of looking at the world. . . . You kind of boil things down to the most fundamental truths and say, “What are we sure is true?” . . . and then reason up from there. . . . Somebody could say . . . “Battery packs are really expensive and that’s just the way they will always be. . . . Historically, it has cost $600 per kilowatt-hour, and so it’s not going to be much better than that in the future.” . . . With first principles, you say, “What are the material constituents of the batteries? What is the stock market value of the material constituents?” . . .
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