MBA’s will be studying this $10,000,000,000 crash and burn for years to come. I think this author and Gurman have it right - hubris to the max (don’t miss the part about Jony’s all white interior/exterior microbus design).
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Just think if they had bought Tesla instead…
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The headaches of dealing with Musk, even if you bought 100% and kicked him out, would be disastrous…
I always doubted Apple would really deliver its own car. There’s no way even Apple can own the entire supply chain for vehicles - and lock out other service providers.
I think a perhaps larger lesson is too much cash on the balance sheet enables poor decision making. I’m surprised activist investors haven’t been carpet bombing the big techs demanding that cash be dividended back.
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I’ve wondered about this too but for the fact that big cash bags are a badge of honor in the tech industry and help prop up the price, so the trade off is market cap vs current returns…
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That’s with a “B” … right?
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