Making a driverless car "driver" is clearly much harder than manufacturing cars though. Many companies manufacture cars and have done for decades. On the other hand Waymo is the only company that has actual driverless cars on the road. It took them a very long time. Tesla have been trying for a very long time too and still have a long way to go.

So IMO Waymo has something far more valuable than Tesla. (Obviously the market isn't rational though so I wouldn't necessarily invest based on that.)