Sweden GDP is roughly equal to Tesla market cap. It's a fair fight.
This illustrates how ridiculously overvalued Tesla is.
GDP is a flow metric, market cap stock [1]. A better comparison would be revenue to GDP. (6: to 7:1.)
Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
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Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#112Good for them. I love to see workers uniting. In this increasingly globalized world, each country is still different. You can't expect swedish workers to accept that you treat them like american workers just because your company is big. I really like this part: > Even postal workers will stop delivering mail to Tesla
Maybe the phone company will block Tesla fax machines too. /s
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#113Earlier quoted context omitted.
I disagree, it illustrates the current betting market. It doesn't have to do anything with the company as long as the company isn't striken off the market.
I think you say the same thing as I do: the current betting market (company valuation) seems to be a bit out of touch with reality (company's actual value, that is something along the lines: assets - liabilities + expected revenue*time)
We probably don't disagree but I reject the premise of "fair value" for a stock price.
It's not different than Bitcoin price at all, there's no fair value but a price that you think it will increase or decrease. The price, thus market cap can be anything, if Musk can convince his believers to HODL you can end up with market cap larger than the Worlds GDP with trade volumes smaller than a single product they sell.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#114Earlier quoted context omitted.
Not really, gdp is a snapshot of current activity, but the market cap is a guess of the amount of money the company will throw off in total, adjusted for time and risk.
Market cap is not that at all, that's why Twitter's market cap was 44B and now undefined because its not on the market. Market cap is the price of the last share trade times total number of shares. Company's current performance and prospects don't really change that much from day to day but you can have large market cap changes because what you are observing is just live betting.
> Twitter's market cap was 44B and now undefined because its not on the market
It’s still absolutely on a market, down to being valued and trading. It’s just not on a public market.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#115Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#116Meanwhile, statement from the Union: https://www.arbetaren.se/2023/11/13/if-metall-strejkkassan-r... "Our strike fund is enough to keep this up for 500 years."
On one hand, that is epic. On the other hand, it means the union has leached a monumental amount of capital out of the workers and industries they are involved with. A union should not have that much cash in the bank.
Are we suddenly in the business of deciding who should have how much money?
Because if so, we clearly need to deal with the individual billionaires long, long before we work our way down to any unions.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#117Recent blog post about unions that I found interesting: >Let’s say a nation is concerned about poverty. So it passes a law that says the rich will have some of their money redistributed to the poor. But instead of a progressive income tax used to fund cash payments to the unfortunate, the government decides that wealthy people who happened to be born in the spring will give their money to poor people whose birthdays…
Sorry, but I think you are way of here.
I live in Norway, and as far as I know the reason for the immigration problems in sweden is mostly related to taking in a lot of immgrants, much more then other countries did (compared to swedens population) over a long period and then failing to integrated them. Basically creating ghettos. In addition to this the government was to slow with providing additional resources when needed (like severally years ago)
If it was duo to unions you should see the same in Norway.
Both the right and the left in the Scandinavian countries largely agree that unions are a good thing. But we also have a sosial safety net to help people.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#118Earlier quoted context omitted.
So fake EV (PHEV) Volvos that send profits to China and gas profits to MBS will keep the upper hand in Sweden perpetuating the climate crisis on-ramp. Very cool /s
Well then Tesla should treat their workers better so this doesn't happen. So rude of them.
From anything I've read that is not the issue that caused the strike.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#119Earlier quoted context omitted.
Market cap is not that at all, that's why Twitter's market cap was 44B and now undefined because its not on the market. Market cap is the price of the last share trade times total number of shares. Company's current performance and prospects don't really change that much from day to day but you can have large market cap changes because what you are observing is just live betting.
> Twitter's market cap was 44B and now undefined because its not on the market It’s still absolutely on a market, down to being valued and trading. It’s just not on a public market.
It can be true if there are people buying and selling stocks among themselves but that's really out of topic since we are discussing public markets.
Re: Swedish dockworkers are refusing to unload Teslas at ports in broad boycott move
#120Earlier quoted context omitted.
Illegal or just fireable? It’s freedom of expression and gather. Also, can’t fire everyone if they all work together. The air traffic controllers where left put to dry by every other union and Regan had the military to fill in.
Solidarity Action https://en.m.wikipedia.org/wiki/Solidarity_action In Australia, Latvia, Luxembourg, the Netherlands, the United States, and the United Kingdom, solidarity action is theoretically illegal, and strikes can only be against the contractual employer.
But in the Netherlands, an employer is not allowed to hire scabs/strikebreakers.