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Luke

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Everything posted by Luke

  1. And i say this as someone who likes to listen to elon, to agree with many things he says and who is fascinated by what his companies put out!
  2. Didnt say he is stupid, just gets too much credit
  3. Its astonishing how you get from Xi and Putin to Elon Musk in this thread but okay. These things are totally different, rocket science and governance. I dont think both would be able to do what the tesla team does and do I even have to explain that? With respect, please move on from the China and Russia debate. Elon has a giant team behind everything that he markets under his name, many of them smarter than him and those people are left out of the picture completely. I think there are judgement errors on your part too. Him not having a proper degree that is a basic necessity to do one simple thing in this field shows me that he has some mighty smart workers that drive innovation and I am highly skeptical how much of the innovation of these firms is just due to his bachelor level physics input. Now i will leave you guys to further fanboy about Elon
  4. Yep, Elon alone brought internet service to a disaster area (after the government failed to), unveiled a new self-driving taxi + humanoid robots, launched a 232 foot rocket, and caught it on the way back down. Just himself, alone at his office. What do the haters say to that? What have they acomplished by themselves that is equivalent to that?! He is literally Chuck Norris, alone.
  5. Yeah, I agree. Buying twitter for 50b was just one of the "brilliant" capital allocation ideas he had. He marketed it a year and a half as the "we chat" super app and right now is only a MAGA echo-chamber with no customer-service and little cashflow. Just realize that Intel traded at 80b marketcap and he could have almost bought that instead of Twitter xD
  6. Quite frankly, you can not pull of the innovation at spacex or tesla with an entry level physics degree which doesnt bring you anywhere and should not be taken seriously. He is a good salesman though, gotta give him that and he knows how to play the crowds.
  7. Does anyone of the elon praisers on this thread now that he only has a bachelors of ARTS in physics and that the reason why spacex and tesla are so successful is because he probably has the most talented team that drives this innovation forward? Its truly sad that we see nobody behind these projects while he gains all the praise while he has contributed how much of the innovation exactly? As far as i see he could even only be some sort of project manager while some back office Phd team does the hard math...probably not even consisting of american nationals but asians (mostly indians lol?) on H1B-Visa living the american dream
  8. Looking forward to this quarter's earnings season.
  9. Luke

    China

    I meant no offense I can weather the storm!! Cheers!
  10. But they are totally dependent on China now!
  11. It's interesting how "unimpressed" Putin was about Western sanctions, etc, and focussed on China as the more important partner anyway based on economy size, manufacturing base, etc in the Interview with Tucker. I think also Russian Leadership sees the downfall in the EU with their current policies, lack of natural resources, climate targets that are only attainable with degrowth etc. They also see the bad manufacturing base in the US which makes it not as attractive of a partner as China.
  12. Luke

    China

    You underestimate how deep and cheap we already have been, and I was a buyer also then!!!!
  13. Luke

    China

    Stocks are dirt cheap, I wouldn't be at all surprised if Tepper doubles down, honestly! EDIT: As he said in the interview.
  14. Important to remember that the statistics here are not adjusted for purchasing power parity. But americans can just move to thailand and live like a King while they can not do the reverse Greets to the retirement thread!
  15. Many many people eager to join todays middle class lifestyle, own their own appartment/property, eat out in restaurants, have consumer gadgets etc, lots of growth left!!
  16. Amazing when it happens, thanks for sharing.
  17. If you have a portfolio of a 100k-1m you are in the top 12% of wealthy people on this planet, above 1m is top 1.1%!
  18. https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html Good stuff to stay grounded.
  19. Luke

    China

    Picture of @RichardGibbons
  20. Luke

    China

    Chinaaaaaaaaaaaa!!!!
  21. He occasionally wears a gold Rolex, but that's it. He couldnt care less about LV clothes, Gucci etc. If you are really wealthy than you shouldnt wear that stuff because it attracts attention you dont want!
  22. Luke

    China

    https://www.scmp.com/news/china/science/article/3280584/made-china-2035-will-it-topple-us-hi-tech-and-military-manufacturing-10-years?utm_medium=email&utm_source=cm&utm_campaign=enlz-today_international&utm_content=20241002&tpcc=enlz-today_international&UUID=6d0f8903-f8b8-4bf5-8477-621847965327&next_article_id=3280755&article_id_list=3280584,3280755,3280766,3280741,3280735,3280709,3280820,3280777&tc=4 China will overtake the United States in hi-tech and advanced military manufacturing within a decade, according to a prominent Chinese strategist. “Overall, the decline of the US manufacturing industry and its weakened competitiveness in the global market have become an irreversible trend,” said Lu Yongxiang, former vice-chairman of the National People’s Congress, in a commentary published in the Chinese Journal of Mechanical Engineering on September 9. Lu, who is also former president of the Chinese Academy of Sciences, is known for his foresight as a mechanical engineer, and has been influential in helping to shape the Chinese government’s long-term development strategies. He has also served as the director of the expert advisory board for the “Made in China 2025” programme under the State Council, China’s cabinet. While the US has maintained its lead in hi-tech and advanced military equipment production, its advantages are rapidly diminishing, according to Lu. “It is estimated that by 2035, ‘Made in China’ will surpass the United States and become the global leader,” Lu said in the article. Lu also predicted that China’s economy will be larger than America’s by that time. “The world will enter a new era,” he added. In 2010, China’s manufacturing output surpassed the US according to the Chinese government, which cited statistics from the World Bank. However, Chinese factories lagged significantly in terms of technology and product quality. In 2015, Beijing launched a 10-year plan to narrow the gap, and this plan is expected to be renewed every decade. However, “Made in China 2025” has since drawn significant responses from Washington and its allies. Both the Trump and Biden administrations have imposed measures such as trade tariffs, semiconductor export controls and “small yard, high fence” policies to restrain China’s development. Yet, according to an investigation by the South China Morning Post, most of the goals outlined in the “Made in China 2025” plan have already been achieved. Among them, the rise of high-end industries – such as shipbuilding, electric vehicles, drones, renewable energy, and industrial robots – has been much faster than expected, leaving behind competitors in the United States and other developed countries. Last year, Chinese shipyards secured orders to build more than 1,500 large ships worldwide, while only five orders went to the US. China contributed about one-third of the total global manufacturing output last year, roughly double that of the US. Still, China’s manufacturing sector lags behind the US in some advanced fields, especially in advanced weapons production, according to Lu. “Lockheed Martin’s pulse line in the United States maintains an annual assembly capacity of only 12 aircraft, but during wartime, relying on global supply chain collaboration, it can produce one aircraft every two days,” he wrote. China has now produced more than 200 J-20 stealth fighters, surpassing the number of F-22s made by the US, but far fewer than the more than 1,000 F-35s that have been made. China has produced only two operational aircraft carriers, while the US has 11. According to US media reports, some senior American military officers say that a war between China and the United States could break out as early as next year. China, meanwhile, is undergoing a painful economic transformation, with traditional industries such as real estate, retail and fossil fuel-powered car manufacturing shrinking, resulting in significant job losses. The average output measured by value of a Chinese worker is also significantly lower than the average American worker. “We must turn the crisis into opportunities,” Lu wrote. A long-term advantage of China’s manufacturing sector was in technological innovation, he said. “China’s research and development intensity has reached 2.64 per cent [of GDP], surpassing the average level of [European Union] countries,” he wrote. Advanced infrastructure also helps create an excellent environment for investment in manufacturing. “China not only ranks first in the world in terms of the length of high-speed rail and highways, but we also lead in the ultra-high-voltage transmission network. “Furthermore, China is also at the forefront in the construction of gigabit-level optical cables and 5G broadband wireless communication networks,” Lu said. “China not only possesses a vast pool of innovative human resources but also the world’s largest and rapidly growing domestic market for manufacturing. This makes China an irresistible attraction for global innovative talent and international capital.” Although the birth rate is declining, China’s quality of life has improved, which has also helped to increase the competitiveness of its manufacturing sectors. China’s average life expectancy is now 78.6 years, while the US sits at 77.5 years, according to government data. “A nationwide health and epidemic prevention network, a healthcare database, and advanced facilities for medical research and clinical medicine covering a population of 1.4 billion provide a solid scientific and technological basis for national health,” Lu said. The cause of the decline in US manufacturing lies in strategic misdirection, a lesson that Lu said was worth learning. “In the global division of the manufacturing industry chain, the United States has transferred labour-intensive, low value-added manufacturing to developing countries, while focusing on retaining hi-tech research and development and vigorously developing virtual economies such as stocks, securities and financial investments,” he wrote. “However, due to excessive financial bubbles, constant provocation of international conflicts, and intense partisan strife within the country, the US manufacturing industry is accelerating its shift from the real to the virtual economy. “The ageing of infrastructure in the United States, coupled with the declining attractiveness of manufacturing to the younger generation, has also accelerated the continuous decline of US manufacturing.” Both candidates in the US presidential race have made revitalising the manufacturing industry one of their top priorities. US Vice-President and Democratic candidate Kamala Harris said she would boost investment in hi-tech industries such as chips and aerospace. The Republican contender, former US president Donald Trump, promised radical measures to bring manufacturing jobs back to the country. During a campaign speech last Wednesday in Savannah, Georgia – a vehicle manufacturing hub and home to one of the country’s largest ports – Trump said a vote for him would result in a “mass exodus” of manufacturing from US allies South Korea and Germany, as well as economic rival China. “We will take other countries’ jobs. We’re going to take their factories,” he said.
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