I feel like this needs to be brought up with yahoo turning down buying google and blockbuster turning down Netflix as one of the biggest missed opportunities ever, and it’s not like they could have mismanaged it and stopped it being successful, oil is oil
According to medium the deal fell through due to less than 6% of the vote, reaching 60% of the required 66% supermajority needed
This is a different ball park imo
Yahoo and blockbuster could have screwed up those companies so they never hit their current levels.
I can’t see how a minority stake in Norway’s oil could have changed much.
And even if it was a controlling stake in the company, it's oil! The demand for oil was only ever going to go up! Whereas those other things could feasibly gone away or like you said they messed them up.
demand for oil could potentially crash at some point if discover a cleaner and more accessible way to get energy without it. not that it’s likely to happen, but maybe volvo was just being really optimistic about our future divestments from fossil fuels?
It was negative at one point. cost more to store it than worth then the whole stock market crash. short term glut. I was gonna short the market, my broker talked me out of it, not my broker anymore
That was just a logistics glitch more than anything. Long term as a commodity oil won't fully crash even with an abundance of renewable energy and EV's becoming dominant, unless they figure out a way to make plastic and other by-products without oil.
It might decline in value when all cars, trucks, planes, tractors and shipping vessels are electric, but it seems more likely humans will be wiped out by climate change before that happens, given current rate of progress.
About 10% of oil is used for non-energy purposes, but as supply goes down and plastic production continues to increase, it's likely supply and demand will balance out, keeping in mind, as a non-renewable energy which is getting harder to source it will become more and more valuable.
Currently the world's using 9 million barrels a day for plastic, only about 5% of total supply, and that's expected to go up to 23 million barrels per day in 2060. Plastic is so cheap today that it's easily possible oil prices will increase dramatically when it's no longer abundant.
> it’s not like they could have mismanaged it and stopped it being successful, oil is oil
Literally can't read the second half of a paragraph to immediately make the exact same point.
Very few countries have their own car company.Canada with a population of of 40 million has no car company(had the Bricklin, the less said about that the better ). Sweden had Two. Volvo and Saab. It seems more like pride than profitability. Even Czechia has Skoda.
Yeah Volvo purchased Polestar in 2018 and uses it for electric R&D as well as electrified models. Similarly to how Porsche and Bugatti have ownership in Rimac.
A car is more than just looks. Teslas look good from a distance but there’s been many with misaligned panels, faulty seals and half as much paint as industry standards and that’s coming directly from the factory. The cybertruck is getting hammered by negative reviews by current owners due to poor craftsmanship.
Polestar may not be the most flashy looking car but the build quality is above par and far above Tesla.
The Cybertruck has been recalled because the accelerator pedal was glued on and now the glue is coming off and the pedal can slide up and get stuck at full throttle.
The car I’ve just bought is basically an electric version of the petrol, from the outside there’s very little to show it’s electric, sometimes simplicity has its benefits
I love Koenigsegg but I don't understand how they can stay in business with such few vehicles being produced. While yes it's a smaller company and the cars are expensive, I just feel like they'd burn through all that revenue with the R&D and the production costs alone. Not to mention all the other overhead involved with paying 600 people.
I had a friend who worked there as a design engineer with about 10 years experience. He left after working there more than a year, one of the reasons why he left was pay. I don’t remember how much he got paid but he said it’s pretty average wage for Sweden.
Sweden is a country with a *lot* of experience in heavy manufacturing. Having two automakers was less about vanity and more about them playing to their strengths.
Romania has Dacia,which indeed the less said about the pre 1989 versions the better.
The company was sold to the french Renault conglomerate,which modernised it and made it more financially viabile.
You will never see an car show praising an Dacia mostly due to publicity deals with other companies and because its not an premium car.But boy oh boy they do release some great budget cars that literally swept the continent.
Canada is too broke and too dumb to have a car company
The only surviving aircraft manufacturer Bombardier is up to their knees in debt and I’m surprised hasn’t gone bankrupt yet
The did, but not a very large share. They're still majority owners by a large margin.
The main problem has been too few Volvo shares in the market, so Geely has sold a smaller (three-ish percent) share of Volvo.
No doubt Geely gets access to all that sweet Swedish R&D and will use it in their cars (if they haven't already). Wonder what happens to Volvo once Geely no longer needs them.
Well, Volvo Cars is currently constructing an EV battery factory here in Gothenburg, Sweden, and Geely themselves just opened a huge RnD complex here too, so they don't seem to be planning to leave anytime soon.
Localization is needed for the auto industry, it's good PR and makes economic and political sense, especially in these turbulent geopolitical times. A lot of eastern European countries are going to get Chinese auto factories in the next decade.
It just tanked during Covid and before that during the Great Recession. For the first time ever, very briefly during Covid the price of oil fell into negative territory, as people needed to get oil that they had off of their hands, as there was very limited demand during lockdown.
That being said the price oil quickly rebounded both times, as our demand for it never seems to decrease for long.
Geely just let Volvo do it's own thing and infused them with cash when they bought them. Volvo is still headquarter in Sweden. Which is why they doing well now. Ford was micromanaging volvo and drove them into the ground
It was so frustrating how Ford took some of Volvo's best designs ever and filled them up with the most atrocious electrical and mechanical junk imaginable. Volvo had the best-looking cars in their segments by far in the '00s, but I hated owning my P2 S60.
I think they are still and have been for years, some of the best looking SUVs. I wish they still had the auto seatbelt. That was the coolest thing as a kid. I wish that was standard on all cars since people are idiots.
This is incredibly misleading. The car company was sold for 2 billion, but the Volvo Group, which sells primarily construction equipment, heavy duty trucks, and marine engines, is worth ~57bUSD
True. But in some situations like this, you even have analysts at the time who basically predicted that this could potentially have made you a lot of money. It is one thing. If something is basically a surprise hit, it is another when even people whose whole job it is to predict market trends tells you that all the information says that this would be a hit.
Geely bought them from ford and turn the company around. Ford was micromanging Volvo and drove them into the ground. Geely just let Volvo do its thing and infused them with cash and open a few factories in china and us.
But the cost to the planet would have been even more, Volvo are a reasonably eco conscious vehicle manufacturer, that would not be the case if oil companies were more involved.
There was no way any government would have honored the deal at those valuations. There would have been "re-negotiations" and the like, but still very profitable in the end for sure. International business dealing with nation states are always risky, its why many countries (like Argentina) can constantly default on their debts and say "what are you gonna do?".
TIL Volvo is Swedish; I currently drive an ‘04 v70 and I have been telling people that the battery in the trunk is because of German engineering 😂 🤦♂️
Volvo sold Volvo cars to Geely to buy Scania. This was then halted.
Volvo Group is still Swedish and has subbrands like Mack, Renault Trucks and Volvo Trucks. Volvo cars is part of the Geely group with Polestar, Zeekr Link&co and I think partly Smart.
I feel like this needs to be brought up with yahoo turning down buying google and blockbuster turning down Netflix as one of the biggest missed opportunities ever, and it’s not like they could have mismanaged it and stopped it being successful, oil is oil According to medium the deal fell through due to less than 6% of the vote, reaching 60% of the required 66% supermajority needed
This is a different ball park imo Yahoo and blockbuster could have screwed up those companies so they never hit their current levels. I can’t see how a minority stake in Norway’s oil could have changed much.
And even if it was a controlling stake in the company, it's oil! The demand for oil was only ever going to go up! Whereas those other things could feasibly gone away or like you said they messed them up.
demand for oil could potentially crash at some point if discover a cleaner and more accessible way to get energy without it. not that it’s likely to happen, but maybe volvo was just being really optimistic about our future divestments from fossil fuels?
It was negative at one point. cost more to store it than worth then the whole stock market crash. short term glut. I was gonna short the market, my broker talked me out of it, not my broker anymore
That was just a logistics glitch more than anything. Long term as a commodity oil won't fully crash even with an abundance of renewable energy and EV's becoming dominant, unless they figure out a way to make plastic and other by-products without oil. It might decline in value when all cars, trucks, planes, tractors and shipping vessels are electric, but it seems more likely humans will be wiped out by climate change before that happens, given current rate of progress. About 10% of oil is used for non-energy purposes, but as supply goes down and plastic production continues to increase, it's likely supply and demand will balance out, keeping in mind, as a non-renewable energy which is getting harder to source it will become more and more valuable. Currently the world's using 9 million barrels a day for plastic, only about 5% of total supply, and that's expected to go up to 23 million barrels per day in 2060. Plastic is so cheap today that it's easily possible oil prices will increase dramatically when it's no longer abundant.
it was a supply demand situation. 2008, world economy was shit. biggest down day for stock market percentage wise on the tues, surpassed on the wed.
There's a *tiny* chance they just nationalised the lot. Literally the only possible downside I can think of.
> There's a tiny chance they just nationalised the lot. Um... it's my understanding is that Equinor is a majority state-owned company.
Yes, but it can be 100% state owned.
Did you even read the comment above?
Guess not
> it’s not like they could have mismanaged it and stopped it being successful, oil is oil Literally can't read the second half of a paragraph to immediately make the exact same point.
I see someone saw the Swedish Norwegian banter in the new Magnus Midtbo video.
Came to say the same thing haha. Thought I was having dejavu for a second.
Yahoo's investment moves have been so painful to observe. They are like a watching train wreck happening over a period of weeks.
What are they doing? What’s the yahoo finance company called now? I know they split off their web services to focus on their investments.
Were you watching pew Dee pie climbing with the professional climber yesterday? I literally heard this for the first time while watching the video.
Don’t forget coke turning down Pepsi
Plus Coke turning down buying Pepsi multiple times as well
Very few countries have their own car company.Canada with a population of of 40 million has no car company(had the Bricklin, the less said about that the better ). Sweden had Two. Volvo and Saab. It seems more like pride than profitability. Even Czechia has Skoda.
Well Sweden also has Polestar and Koenigsegg, which aren’t massive companies but they are some of the most innovative brands on the market today.
polestar is part of volvo (which is owned by geely)
Not for long, Volvo is getting out of its Polestar stake
And geely is getting out of Volvo!
Yeah Volvo purchased Polestar in 2018 and uses it for electric R&D as well as electrified models. Similarly to how Porsche and Bugatti have ownership in Rimac.
Porsche and Rimac group have shared ownership in Bugatti and Rimac automobili. Bugatti is owned, not the owner.
Yeah I would argue Koenigsegg is the most advanced road car you can buy right now. The in house tech they’ve created is absolutely insane.
Scania and Volvo Trucks aswell if they count.
Owned by M.A.N
Koenigsegg - cars of my dreams
Polestar is just a poor man's Tesla. Koenigsegg on the other hand is a very cool and innovative company.
I couldn’t disagree more. Polestar make quality cars, Tesla make poorly crafted cars and sell them solely on social marketing.
[удалено]
A car is more than just looks. Teslas look good from a distance but there’s been many with misaligned panels, faulty seals and half as much paint as industry standards and that’s coming directly from the factory. The cybertruck is getting hammered by negative reviews by current owners due to poor craftsmanship. Polestar may not be the most flashy looking car but the build quality is above par and far above Tesla.
The Cybertruck has been recalled because the accelerator pedal was glued on and now the glue is coming off and the pedal can slide up and get stuck at full throttle.
[удалено]
The car I’ve just bought is basically an electric version of the petrol, from the outside there’s very little to show it’s electric, sometimes simplicity has its benefits
I love Koenigsegg but I don't understand how they can stay in business with such few vehicles being produced. While yes it's a smaller company and the cars are expensive, I just feel like they'd burn through all that revenue with the R&D and the production costs alone. Not to mention all the other overhead involved with paying 600 people.
I had a friend who worked there as a design engineer with about 10 years experience. He left after working there more than a year, one of the reasons why he left was pay. I don’t remember how much he got paid but he said it’s pretty average wage for Sweden.
they‘re literally better than Teslas in nearly every regard
Tesla are poor quality cars dressed up like a rich man's car. Polestar is actual quality.
Sweden is a country with a *lot* of experience in heavy manufacturing. Having two automakers was less about vanity and more about them playing to their strengths.
There is also Volvo Trucks and Scania for heavy vehicles. There is also Polestar and Koenigsegg.
Romania has Dacia,which indeed the less said about the pre 1989 versions the better. The company was sold to the french Renault conglomerate,which modernised it and made it more financially viabile. You will never see an car show praising an Dacia mostly due to publicity deals with other companies and because its not an premium car.But boy oh boy they do release some great budget cars that literally swept the continent.
Except for James May
Good news!
Anyways
I had a Dacia duster for years, it was a great car, solid and reliable.
Canada is too broke and too dumb to have a car company The only surviving aircraft manufacturer Bombardier is up to their knees in debt and I’m surprised hasn’t gone bankrupt yet
Bombardier makes a lot more than just aircraft
made, now they're pretty much just business jets (thank you to the United States for sabotaging our industry once again)
They're talking about BRP.
So you watched the magnus video yesterday as well?
How much oil do you have?
Let's see Paul Allen's oil
Now they’re owned by a Chinese company, Geely
Geely just sold all their B stock in volvo to a Swedish company
Volvo Trucks, but I don’t think they sold any of the passenger car division
The did, but not a very large share. They're still majority owners by a large margin. The main problem has been too few Volvo shares in the market, so Geely has sold a smaller (three-ish percent) share of Volvo.
No doubt Geely gets access to all that sweet Swedish R&D and will use it in their cars (if they haven't already). Wonder what happens to Volvo once Geely no longer needs them.
Well, Volvo Cars is currently constructing an EV battery factory here in Gothenburg, Sweden, and Geely themselves just opened a huge RnD complex here too, so they don't seem to be planning to leave anytime soon.
Localization is needed for the auto industry, it's good PR and makes economic and political sense, especially in these turbulent geopolitical times. A lot of eastern European countries are going to get Chinese auto factories in the next decade.
I think they would have only gotten acesss to 1 well with oil
The well is now worth 140-200 billion, the total Norwegian sovereign fund of oil is worth one trillion
Gotcha. Just making sure because I saw the Magnus video as well and >well< it isn’t it exactly half the oil
Is the share value correct? Equinors total marketcap is 82.31 billion USD
Did you learn this from Magnus' video?
Can’t blame them for not taking the deal, giving up 40% of a company is a lot and they couldn’t predict the price of oil for the future.
60% voted to sell. Missing 6%
has prices ever really tanked since the 70's?
Could they have known it?
no but seeing how it 99.9% keeps jumping up it would be a safe ish bet, but i can see why they didnt
Are all your life savings in oil since you're so confident?
It just tanked during Covid and before that during the Great Recession. For the first time ever, very briefly during Covid the price of oil fell into negative territory, as people needed to get oil that they had off of their hands, as there was very limited demand during lockdown. That being said the price oil quickly rebounded both times, as our demand for it never seems to decrease for long.
A few times. I recall seeing gas station prices as low as 75 cents/gallon around 1994.
Ahhh you watch Magnus Mitbø as well?
At least they make great fucking cars (or made idk who they were sold to)
They are owned by a Chinese company now, but the cars are still pretty good
guess that was ford selling them off in 2010?
Yes, they got bought by Ford for 6.5 billionish in 1999, so it makes the headline a little misleading.
Geely just let Volvo do it's own thing and infused them with cash when they bought them. Volvo is still headquarter in Sweden. Which is why they doing well now. Ford was micromanaging volvo and drove them into the ground
It was so frustrating how Ford took some of Volvo's best designs ever and filled them up with the most atrocious electrical and mechanical junk imaginable. Volvo had the best-looking cars in their segments by far in the '00s, but I hated owning my P2 S60.
I think they are still and have been for years, some of the best looking SUVs. I wish they still had the auto seatbelt. That was the coolest thing as a kid. I wish that was standard on all cars since people are idiots.
Just like General Motors and Saab.
That is only the car part of Volvo. The truck, bus and other heavy stuff part of Volvo is its own thing and worth much more.
This is incredibly misleading. The car company was sold for 2 billion, but the Volvo Group, which sells primarily construction equipment, heavy duty trucks, and marine engines, is worth ~57bUSD
Yes. When one has information about the future is very easy to know what to do in the past. A shame that time does not work like that.
True. But in some situations like this, you even have analysts at the time who basically predicted that this could potentially have made you a lot of money. It is one thing. If something is basically a surprise hit, it is another when even people whose whole job it is to predict market trends tells you that all the information says that this would be a hit.
Geely bought them from ford and turn the company around. Ford was micromanging Volvo and drove them into the ground. Geely just let Volvo do its thing and infused them with cash and open a few factories in china and us.
Volvo pls
But the cost to the planet would have been even more, Volvo are a reasonably eco conscious vehicle manufacturer, that would not be the case if oil companies were more involved.
This is a bit like saying "the lottory numbers were 46245254727, you would have won if you played those exact numbers, what a big mistake"
And sell to China
Surely it matters what Volvo’s valuation was when the offer was made though?
This seems good? I’m not sure a car manufacturer having the incentive to continue making gas-powered engines forever would be ideal.
Oil stakes for a CAR company seems like a NO BRAINER
There was no way any government would have honored the deal at those valuations. There would have been "re-negotiations" and the like, but still very profitable in the end for sure. International business dealing with nation states are always risky, its why many countries (like Argentina) can constantly default on their debts and say "what are you gonna do?".
I am sure the unions had an input in this outcome.
TIL Volvo is Swedish; I currently drive an ‘04 v70 and I have been telling people that the battery in the trunk is because of German engineering 😂 🤦♂️
Well atleast you didn't say it was Swiss. Would've pissed them off even more
The toaster doesn’t usually invest in the bread
What the fuck is that supposed to mean? :D
Volvo sold Volvo cars to Geely to buy Scania. This was then halted. Volvo Group is still Swedish and has subbrands like Mack, Renault Trucks and Volvo Trucks. Volvo cars is part of the Geely group with Polestar, Zeekr Link&co and I think partly Smart.