5 ms·

The UAE has a much higher GDP per capita than Canada, Germany, or Taiwan. Obviously they need to learn from the UAE how to innovate. Ads are Google's oil.

xyzelement 4y ago
That's a really unhelpful analogy actually. Oil happens to be under UAEs ground, whereas Google has to work and compete for its ads business (vs Facebook, Amazon, others.) Also, UAE and Venezuela both have oil but one is doing much better than the other. How you exploit your assets (oil or historical position in the ads business) matters a lot.
- jonathanyc 4y ago
  Your second and third paragraphs contradict.
  - xyzelement 4y ago
    Nope. The 2nd paragraph shows why your analogy between ad revenue and oil revenue is flawed. The third paragraph shows that even sticking with the flawed analogy, how you exploit the asset matters.
    - jonathanyc 4y ago
      When I reach the ends of your comments, I can't tell where we disagree.
- seanhunter 4y ago
  Wildly offtopic, but not all oil is the same. The oil in Venezuela is tar sands[1] so is expensive to extract. In fact the marginal cost of an additional barrel in Venezuela ($20) is 3x that of UAE ($7), and that's not considering the other issues involved[2]. It is then heavy oil which means it has more bituminous, long hydrocarbon chains with more sulphur so it produces a cheaper grade of product and requires more processing. Then there is the fact that their oil company PdVSA has been under US sanctions which can't help much[3]. [1] https://www.gem.wiki/Venezuela_Tar_Sands https://www.gem.wiki/Venezuela_Tar_Sands [2] https://knoema.com/infographics/vyronoe/cost-of-oil-production-by-country https://knoema.com/infographics/vyronoe/cost-of-oil-producti... [3] https://home.treasury.gov/system/files/126/13808.pdf https://home.treasury.gov/system/files/126/13808.pdf

5 ms·

The UAE has a much higher GDP per capita than Canada, Germany, or Taiwan. Obviously they need to learn from the UAE how to innovate. Ads are Google's oil.

by jonathanyc 4y ago

xyzelement 4y ago
That's a really unhelpful analogy actually. Oil happens to be under UAEs ground, whereas Google has to work and compete for its ads business (vs Facebook, Amazon, others.) Also, UAE and Venezuela both have oil but one is doing much better than the other. How you exploit your assets (oil or historical position in the ads business) matters a lot.
- jonathanyc 4y ago
  Your second and third paragraphs contradict.
  - xyzelement 4y ago
    Nope. The 2nd paragraph shows why your analogy between ad revenue and oil revenue is flawed. The third paragraph shows that even sticking with the flawed analogy, how you exploit the asset matters.
    - jonathanyc 4y ago
      When I reach the ends of your comments, I can't tell where we disagree.
- seanhunter 4y ago
  Wildly offtopic, but not all oil is the same. The oil in Venezuela is tar sands[1] so is expensive to extract. In fact the marginal cost of an additional barrel in Venezuela ($20) is 3x that of UAE ($7), and that's not considering the other issues involved[2]. It is then heavy oil which means it has more bituminous, long hydrocarbon chains with more sulphur so it produces a cheaper grade of product and requires more processing. Then there is the fact that their oil company PdVSA has been under US sanctions which can't help much[3]. [1] https://www.gem.wiki/Venezuela_Tar_Sands https://www.gem.wiki/Venezuela_Tar_Sands [2] https://knoema.com/infographics/vyronoe/cost-of-oil-production-by-country https://knoema.com/infographics/vyronoe/cost-of-oil-producti... [3] https://home.treasury.gov/system/files/126/13808.pdf https://home.treasury.gov/system/files/126/13808.pdf