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>Some of the leaders do know that they can't live on oil forever, so you see some sovereign wealth funds investing in things that their people can learn and use
by nickfromseattle 6y ago
>Some of the leaders do know that they can't live on oil forever, so you see some sovereign wealth funds investing in things that their people can learn and use to build their society more resiliently
Do the Saudi's have the experience and culture to make this work? $90B invested in Softbank Vision Fund. [0]
[0] https://www.businessinsider.com/saudi-arabia-45-billion-with-softbank-2018-10 https://www.businessinsider.com/saudi-arabia-45-billion-with...
- supernova87a 6y agoIs that investment just finding a place to park money? Or does it do something good for the every day Saudi citizen? I don't follow the issue closely enough to know.
- rhizome 6y agoFollowing the list of Softbank "successes" seems like a decent proxy.
- andi999 6y agoA long time ago on an island far away... called Nauru, they tried to invest their wealth from their natural riches (phospor fertilizer). It didnt work out, if I remember correctly.
- GordonS 6y agoIt's a strategy that's worked well for Norway though
- qwytw 6y agoHowever Norway was already one of the richest countries in the world before the oil boom. So there wasn't as much pressure on their government to spend that income immediately instead of investing it.
- andi999 6y agoDoesnt Norway still produce oil? Naurus strategy also worked well as long as they were producing. (Although I am not worried about Norway, even if the investment were not to work out as intented, their economy seems sound)
- ArkVark 6y agoIts also worth considering that Norway has a highly educated, intelligent population and an open, protestant culture. Countries without these traditions or a less educated population are more prone to corruption and mismanagement.