Is There a New Dotcom Bubble?

#661
SmallRonnie said:
With all due respect, this isn't a good metric to measure the performance of the whole company. Their sales last quarter actually increased but net profits are down. I found it here.

I would expect their sales to drop though since credit is being maxed out for a lot of the public and more layoffs in general are likely. I don't know much though lol.
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It's best, in my opinion, to use common sense, as most companies routinely cook the data they present to investors to make it look like they want...

These days one goes to the supermarket and sees people staring blankly at a pack of yogurts. They check prices to the cent... and compare between products. I don't see people stacking carelessly their shopping carts anymore. Everyone checks the prices and chooses carefully what to buy and which amount.

And that "defence strategy" about inflation can be extrapolated to the whole economy. So no, I don't think Amazon is doing well...
 
#662
The Chinese government got "golden shares" with special voting rights in Alibaba and Tencent. This is in fact equivalent to veto power and also grants the CCP can decide on key issues and prevail on the decision making process over other executives of these tech companies.
 
#663

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#665
The FT says "The manager of Baillie Gifford's flagship fund has admitted that 2022 was a "humbling year" after the investment group lost more than $14bn on stakes in Tesla..."
 
#669
And all of a sudden Peter Thiel lost his "faith" in Bitcoin. The world is short of "believers" these days.

Peter Thiel's fund wound down 8-year bitcoin bet before market crash

And, according to The Guardian, Peter Thiel used a SDIRA to hide shares worth millions and not pay any tax on that... one would have thought that was a tax instrument designed for the middle class and not for tax evasion by billionaires.
 
#671
The grim reality:

"Only companies with an urgent need for capital have been forced into a full reckoning with reality, as investors putting in new money demand an up-to-date valuation. Klarna, the Swedish buy now, pay later company, sent shockwaves through the market for private fintech companies earlier this month when it had a valuation of $5.9bn, before the addition of new money — 87 per cent less than its venture capital backers judged it was worth a year ago."

Venture capital's silent crash: when the tech boom met reality | Financial Times (ft.com)
 
#673
Some data on "investments" that went wrong, and valuations collapsed:

WeWork Peak valuation $47bn in 2019. The valuation a year later: $2.9bn

Theranos Peak valuation $9bn in 2015. Closed in 2018.

Klarna Peak valuation $45.6bn in 2021. Last valuation $5.9bn in July 2022.

Uber Valuation at IPO $82.5bn in 2019. Current worth: $44.3bn.

Regarding venture capital, Vishria at Benchmark sums up the hope: "All the pretenders and the speculators will get wiped out. We'll have the believers and the builders."

Ooookkk... so we'll trade the speculators for the believers haha... great change :greedy: :dunno:
 
#678
lymebite said:
Tesla is hiring again. And the stock closed at $143.75 today, up about 40 percent from a few weeks ago.

What a roller coaster!

Tesla makes a massive investment in service in California
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The problem in Europe, at least in Spain, is (i) Tesla makes expensive cars; (ii) there are not enough charging points, in fact there are very few; (iii) Tesla make unreliable cars that break and need to be repaired and there are no spare parts or repair shops that deal with them...

So the customer pays a hefty price and soon has an unrepaired car that cannot be used.

That's why people are starting to sell their Tesla cars and losing a ton of money when they sell them as second hand, used vehicles...
 
#680
The US government wants Google to break up in smaller companies to prevent its dominant position, close to a monopoly, on internet ads and publicity.

I am sure Joe Biden will forget about that soon, as well as he forgot about the "minimum global corporate tax of at least 15%". In the meantime, the average guy is paying a ton of taxes to fill the IRS coffers, while Google and Big Tech pay zero tax and are, in practice, above the law.

Only consumers can stop these companies, by stopping to use their services or buy the products they offer.
 
#681
lymebite said:
Tesla is hiring again. And the stock closed at $143.75 today, up about 40 percent from a few weeks ago.

What a roller coaster!

Tesla makes a massive investment in service in California
Click to expand...
I heard Tesla lowered their prices significantly on most of their car models too. And thanks to The Inflation Reduction Act which was passed last summer, buyers of EVs (includes all Tesla model vehicles) also qualify for a $7,500 federal tax credit.

If there was an incentive to go green, now is the perfect time.
 
#682
ZFire said:
buyers of EVs (includes all Tesla model vehicles) also qualify for a $7,500 federal tax credit.
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There are income limits set by the IRA - I think the cut-offs are $150k for single people and $300k for married people. Any more, and no tax credit.

But for everyone else, the Tesla cars are much more accessible than they were a month ago. And the used older Model 3s are getting down to around $30k. Also making them more accessible.
 
#686
lymebite said:
There are income limits set by the IRA - I think the cut-offs are $150k for single people and $300k for married people. Any more, and no tax credit.
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Wowww... from a Spanish perspective that sounds almost unreal. A couple making $300k (gross or net?) and getting subsidies to buy a car???
 
#687
Juan said:
A couple making $300k (gross or net?) and getting subsidies to buy a car???
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If they make $299k yes, but $300k no. Those numbers are before income taxes are subtracted. So gross.

Salaries in the US are crazy - I think I read this week that the average Google employee makes $300k. And that's before accounting for any employed spouse which would make the household income even higher. That number might be for average software engineer compensation rather than all employees.
 
#688
lymebite said:
If they make $299k yes, but $300k no. Those numbers are before income taxes are subtracted. So gross.

Salaries in the US are crazy - I think I read this week that the average Google employee makes $300k. And that's before accounting for any employed spouse which would make the household income even higher. That number might be for average software engineer compensation rather than all employees.
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Those are very high salaries. In Spain they would pay around 50% tax at that income bracket, taking income tax and social security deductions (public healthcare) together...

I am surprised the US subsidies people with high salaries to buy a car, but this is after all a matter of public policy.

In fact politicians are giving away taxpayers' money to the owner of companies like Tesla... to Elon Musk.

Here in Spain things are very different. For instance an electric vehicle will not pay toll on certain highways where gasoline and diesel cars have to pay, but there is fine print to this, and an expensive electric car, like a Tesla, will pay toll like any other vehicle... so really the rule makes no sense because it is not based on cars that pollute more or less to pay the toll, but also on some communist view on the owner's income: if the owner can afford an expensive car, then he or she has to pay toll.

Again, public policy... it's just a political choice, like any other.
 
#689
Juan said:
In Spain they would pay around 50% tax at that income bracket, taking income tax and social security deductions (public healthcare) together...
Click to expand...
The tax system in the US is mind-bogglingly complicated and varies greatly by region. In California, where many of those Google employees live, it would be not far off from 50 percent. Federal rate is 35 percent, plus California 9.3 percent, plus social security and health 7.65 percent adds up to around 50 percent. This is a great oversimplification and overlooks many issues because the tax code is so complex, especially in terms of progressiveness, but it is a rough ball park.

Another interesting fact about California is that the top 1 percent of earners pay 50 percent of all income taxes. That still leaves them with plenty of money for boats and airplanes and mansions.
 

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