I don’t have much sympathy for European car-makers.
Yes, they have deep roots. Glorious history. And many of the companies have governance models that give labour a meaningful seat at the table.
But they got greedy.
When times were good, and the luxury market in China was booming, EU-based firms were massively profitable. Did they use these windfalls to increase capex and R&D? Nope. Dividends, share buy-backs, and building big financial reserves.
Now they’re in dire straits; Chinese consumers moved on, and Chinese manufacturers are quickly moving into the EU (their share of new sales went from 3 to 6 percent in the last 12 months).
Beyond that lament, Ten Things checks in on Argentina’s public finances, why the wage gap between Canada and the US isn’t that straightforward, and whether musicians will survive AI (spoiler: they will).
Until next week friends.
Not long ago, EU car companies were the most profitable on earth.
Source: SOMO
But they also cut investment the fastest. Are they deserving of a bailout?
Source: SOMO
Public finances can be turned around. But it is not pleasant.
Source: Semafor
Wage discrepancies between Canada and the USA are a problem of the top 10%.
Source: The Globe and Mail
When it comes to tokens, good is the enemy of frontier.
Source: Prof G Media
American employers are missing out on international talent.
Source: Bloomberg
In the new space race, Russia isn’t even relevant. Will China catch up with the Americans once again?
Source: Bloomberg
Want to anger the American electorate? Start with expensive hamburgers.
Source: Financial Times
The radio, CD, or streamer didn’t kill “musician” as a job. AI won’t either.
Source: Economic Innovation Group
