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If the alternative is not enough supply to meet demand,yes. Private capital might be better, but how much would private firms be willing to risk on a new compa
by jaynos 13y ago
If the alternative is not enough supply to meet demand,yes. Private capital might be better, but how much would private firms be willing to risk on a new company? Also, could that company scale up to build 1 million cars per year to supply American demand?
GM was not run very intelligently in the '90s (and '80s and '00s), so I definitely feel the urge to let them die, but the economic damage of the 100,000+ layoffs would cost more than the auto bailout.
- refurb 13y agoI don't understand this line of thinking, particularly from the Hacker News crowd. Nobody seems to care if taxi drivers lose out from services like Lyft and Uber. It's called "disruption" and is apparently good for the economy. A dinosaur like GM loses market share to imports and the same crowd thinks gov't subsidies are required to keep an inefficient industry alive.