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> LVMH, on the other hand, is Europe’s most valuable company? What a sore lack of innovation…I’m not even surprised because it’s from the continent that still h
by kergonath 4y ago
> LVMH, on the other hand, is Europe’s most valuable company? What a sore lack of innovation…I’m not even surprised because it’s from the continent that still has a lot of kings and queens (albeit ceremonial)…still doesn’t change my mind because I believe royals are the biggest grifters on earth.
I am puzzled. You know that Europe is a big place and that LVMH is from France, the place famous for not having royals?
Also, much of LVMH revenues come from the US and China. Neither place is really known for their fancy royals, either.
Also, market cap says more about the amount of money flowing around than the intrinsic value of the companies. Tesla’s valuation is more correlated with hype (and the status symbol and luxury character of the cars, similar as Apple, which you left out somehow) than innovation.
Your points need a bit of work to be convincing.
- capableweb 4y agoJust to back up what you're saying with data: LVMH - Revenue by key regions - https://www.lvmh.com/investors/profile/financial-indicators/#region https://www.lvmh.com/investors/profile/financial-indicators/... - Asia - 23,785 M€ revenue - United States - 21,542 M€ revenue - Europe - 12,717 M€ revenue - Other markets - 9,632 M€ revenue - France- 6,071 M€ revenue - Japan - 5,436 M€ revenue Isn't it funny that the country that supposedly is the biggest innovators in the world, are one of the biggest consumers of luxury goods? Who is the fool here really, the one who sells the luxury goods, or the ones that buy it?
- brailsafe 4y agoI was going to say... seems like there's a whole lot of LVMH stores in Bellevue. Must be unrelated
- dixie_land 4y agoBellevue === Little Peking
- drstewart 4y ago>Isn't it funny that the country that supposedly is the biggest innovators in the world, are one of the biggest consumers of luxury goods? Not really. That's exactly what you'd expect, since the ones that innovate have the money to buy luxury goods. >Who is the fool here really, the one who sells the luxury goods, or the ones that buy it? Talking about fools, since Tesla is apparently also an overhyped luxury company, who is the real fool here: the ones who make it (the US) or the ones who buy it (Europe)?
- capableweb 4y agoThat would mean that Asia is the greatest innovators, by that metric. Do you agree with that?
- lsaferite 4y agoGiven that 'Asia' is multiple countries and has upwards of 4.7B in population vs the US being a single country and having a population closer to 336M, I'd say that using the raw sales numbers as a measuring stick might be a bit off. If we substract Japan, which is listed individually, you still have ~4.5B in Asia. That's €5.28/person in Asia (-Japan) vs €64.01/person in United States. [1] https://www.worldometers.info/world-population/asia-population/ https://www.worldometers.info/world-population/asia-populati... [2] https://www.worldometers.info/world-population/us-population/ https://www.worldometers.info/world-population/us-population...
- GreedClarifies 4y ago"Tesla is apparently also an overhyped luxury company" From a practical perspective Teslas are simply better daily drivers than other cars. Whether their price premium, wrt gas powered cars, is justified is a judgement call. I would say yes, but YMMV.
- kergonath 4y agoThanks! I did not have the exact numbers on hand.