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How's that related to the magnificent 7 and then SpaceX/StarLink and the AI revolution (which is nearly virtually only happening in the US: even if there are a

How's that related to the magnificent 7 and then SpaceX/StarLink and the AI revolution (which is nearly virtually only happening in the US: even if there are a few models in France, China, etc. it's a US game)? I don't think you realize what's going on in the EU (failing into a third world continent at an alarming rate) or in China (where "little" cities of 30 million inhabitants are all about tech and feeling like you live in the future: not that everything is rosy in China). EU carmakers are all in big trouble while Chinese EVs and Tesla are soaring. The EU has nothing to answer the mag 7, let alone SpaceX (the ESA was already way behind NASA). That the US is growing at a faster rate than most other nation and continents is a fact and it's got nothing to do whether you or a care assistant goes to visit your grandma.

Retric 2y ago
You’ve got an overly rosy view of what’s happening in the US and underestimating Europe. AI is big in the tech world, but it’s hardly moving the needle on the overall economy. Every 1% GDP growth roughly requires the equivalent of adding a new Google sized company every year, or as actually happens a more widespread increase. Just as an example, Tesla’s 2024 Q1 deliveries where below 2023’s Q1 deliveries hardly a sign of rapid growth. https://www.statista.com/statistics/502208/tesla-quarterly-vehicle-deliveries/ https://www.statista.com/statistics/502208/tesla-quarterly-v... SpaceX is facing the limits of how much people want to send into orbit. Plenty of growth in the next few years, but Starlink is only generating ~6 billion a year in revenue and not much else really wants to put that much stuff into orbit. Worse, Starlink is facing ever increasing competition from cheaper ground based providers especially cellular internet, so that business may start to shrink.
- gizmo 2y ago
  Tesla is suffering from Chinese EV competition, but the German car brands are suffering much worse. Just look at this UX disaster: https://x.com/teslaxander/status/1864202319925035083 https://x.com/teslaxander/status/1864202319925035083 Is it any wonder that the German car industry is imploding? I also don't share your pessimism about Starlink. Right now it's unclear what the killer application for Starlink will be, but it's awesome technology and even if it's only used in very remote areas it will still be worth it. When you only invest in technology that is immediately valuable you lose out on the technological revolutions that take a while to play out. Imagine having the capability of building something like Starlink but not doing it because the bean counters don't see the point.
  - Retric 2y ago
    I’d hardly call BMW’s current sales numbers “imploding” or “suffering”. They’re even doing quite well inside China. VW saw a 12% increase in sales in 2023, the’re currently #2 globally behind Toyota. But that’s not really the narrative people have about European car companies. (Ed: Not that the nominal nationality of a company with global manufacturing and significant international ownership is telling the whole story.)
    - gizmo 2y ago
      > LONDON/FRANKFURT, Nov 6 (Reuters) - BMW (BMWG.DE) on Wednesday reported a 61% drop in its third-quarter profit, missing analyst expectations because of slumping China sales and brake problems and sending its shares to their lowest level in more than 2-1/2 years. > In October, the German automaker reported that its third-quarter sales in China had fallen by a third. > Rival German automakers Volkswagen and Mercedes-Benz are also struggling with falling sales in China caused by a weak economy and intense competition. https://www.reuters.com/business/autos-transportation/bmw-reports-drop-earnings-related-china-brake-issues-2024-11-06/ https://www.reuters.com/business/autos-transportation/bmw-re... > "I don't like talking about the competition so much but I drive the Xiaomi – we flew one from Shanghai to Chicago and I've been driving it for six month now and I don't want to give it up", Ford CEO Jim Farley Chinese cars are getting better every year and nobody can match them on price. That's the real story here. The narrative is shifting because more and more people realize that the EU doesn't have an answer except for tariffs and other protectionist measures.
      - Retric 2y ago
        Meanwhile China is still BMW’s largest market, well ahead of US sales. It’s a little early to say they can’t compete rather than this being a brander situation as overall Chinese customer demand is down and they’re a luxury brand. So sure, profits are down significantly but it’s still a very profitable company.
      - Cumpiler69 2y ago
        >the EU doesn't have an answer except for tariffs and other protectionist measures. You can't have an answer if you're competing with a labor force that's working 9-9-6 while your labor force is working 35h weeks on paper (much less in practice), gets 40 vacation days per year, get paid sick leave whenever they don't feel like coming to work, and highly paid underperformers are unable to be fired due to unions. German workers could afford that cushy lifestyle when their auto industry was the most cutting edge and valuable in the world, but once it's not anymore, they'll have to accept a new reality of more work for less pay if they want to have jobs or an industry.
syrjir 2y ago
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Retric 2y ago

You’ve got an overly rosy view of what’s happening in the US and underestimating Europe. AI is big in the tech world, but it’s hardly moving the needle on the overall economy. Every 1% GDP growth roughly requires the equivalent of adding a new Google sized company every year, or as actually happens a more widespread increase. Just as an example, Tesla’s 2024 Q1 deliveries where below 2023’s Q1 deliveries hardly a sign of rapid growth. https://www.statista.com/statistics/502208/tesla-quarterly-vehicle-deliveries/ https://www.statista.com/statistics/502208/tesla-quarterly-v... SpaceX is facing the limits of how much people want to send into orbit. Plenty of growth in the next few years, but Starlink is only generating ~6 billion a year in revenue and not much else really wants to put that much stuff into orbit. Worse, Starlink is facing ever increasing competition from cheaper ground based providers especially cellular internet, so that business may start to shrink.

gizmo 2y ago
Tesla is suffering from Chinese EV competition, but the German car brands are suffering much worse. Just look at this UX disaster: https://x.com/teslaxander/status/1864202319925035083 https://x.com/teslaxander/status/1864202319925035083 Is it any wonder that the German car industry is imploding? I also don't share your pessimism about Starlink. Right now it's unclear what the killer application for Starlink will be, but it's awesome technology and even if it's only used in very remote areas it will still be worth it. When you only invest in technology that is immediately valuable you lose out on the technological revolutions that take a while to play out. Imagine having the capability of building something like Starlink but not doing it because the bean counters don't see the point.
- Retric 2y ago
  I’d hardly call BMW’s current sales numbers “imploding” or “suffering”. They’re even doing quite well inside China. VW saw a 12% increase in sales in 2023, the’re currently #2 globally behind Toyota. But that’s not really the narrative people have about European car companies. (Ed: Not that the nominal nationality of a company with global manufacturing and significant international ownership is telling the whole story.)
  - gizmo 2y ago
    > LONDON/FRANKFURT, Nov 6 (Reuters) - BMW (BMWG.DE) on Wednesday reported a 61% drop in its third-quarter profit, missing analyst expectations because of slumping China sales and brake problems and sending its shares to their lowest level in more than 2-1/2 years. > In October, the German automaker reported that its third-quarter sales in China had fallen by a third. > Rival German automakers Volkswagen and Mercedes-Benz are also struggling with falling sales in China caused by a weak economy and intense competition. https://www.reuters.com/business/autos-transportation/bmw-reports-drop-earnings-related-china-brake-issues-2024-11-06/ https://www.reuters.com/business/autos-transportation/bmw-re... > "I don't like talking about the competition so much but I drive the Xiaomi – we flew one from Shanghai to Chicago and I've been driving it for six month now and I don't want to give it up", Ford CEO Jim Farley Chinese cars are getting better every year and nobody can match them on price. That's the real story here. The narrative is shifting because more and more people realize that the EU doesn't have an answer except for tariffs and other protectionist measures.
    - Retric 2y ago
      Meanwhile China is still BMW’s largest market, well ahead of US sales. It’s a little early to say they can’t compete rather than this being a brander situation as overall Chinese customer demand is down and they’re a luxury brand. So sure, profits are down significantly but it’s still a very profitable company.
    - Cumpiler69 2y ago
      >the EU doesn't have an answer except for tariffs and other protectionist measures. You can't have an answer if you're competing with a labor force that's working 9-9-6 while your labor force is working 35h weeks on paper (much less in practice), gets 40 vacation days per year, get paid sick leave whenever they don't feel like coming to work, and highly paid underperformers are unable to be fired due to unions. German workers could afford that cushy lifestyle when their auto industry was the most cutting edge and valuable in the world, but once it's not anymore, they'll have to accept a new reality of more work for less pay if they want to have jobs or an industry.

syrjir 2y ago

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