General Motors CompanyGMNYSE
Yeah of course you don't have to invent it as in be first to patent. You have to commercialize t well. Apple has invented fairly few technologies, but commercialized many amazingly well. Tesla commercialized sporty electric vehicles, their charging stations all over the US, and their power walls are very popular as well. They spent most of their efforts into technological improvements, therefore they're a tech company.
Compare job postings for Tesla and GM and tell me if they look like they're building the same thing. It's hard to even find a software engineering position at GM.
I agree to a point, but...
>No one is ever forced to overspend or buy something that they don’t need.
There has been a trend since the mid 90s where much if the stuff you need is deliberately made of poor quality materials and/or is designed to fail and in most cases cannot be repaired. Most recently we have seen this being challenged in the "right to repair" movement (check it out if you haven't heard about it).
In the past cheaply made cheap goods were always available but what has changed is in many segments you cannot find quality goods at nearly any price, this is all by design to steal use/equity from you. I read recently you should expect a 2,000 refrigerator to last 4-6 years. Four to six years?!? The refrigerator which came with my house is from 1991 and no matter the cost it will be repaired when it needs to be, even if that cost is $2,000. Even frugal people can feel the pinch of this deliberate theft unless they use unorthodox means.
>You don’t need a $20,000 car yet more and more Americans are taking out ridiculous car loans for more than six-year terms.
I worked wholesale cars for several years before going part time then out of the business altogether. Since about 2013 the entire US wholesale market has been artificially inflated by at least 30%. Part of it is demand, and until about 2016 part supply, but after 2016 production which ramped up in 2012-14 started hitting the block and wholesale we have not seen a dip. I still get the data and the numbers of some of the cars shock me.
Until Nov 2018 I was switching between a 2002 Saturn and a 2008 Pontiac, but I was concerned about the zero degree weather we've been seeing nearly every January here and one of them not starting because of age or component failure due to climate. I purchased my first new car ever (also first retail car purchase ever) for 17,5. I tried to use favors to go to the auction but the model I wanted at the time was trading for around 15,8 and by the time I pay the auction feels and dealer commissions I would have been at 16,5ish for a used car when the new one with warranty was another grand.
I had access to the true valuation information the public does not have, and have the skills and savvy to understand what I was getting into. John Q Public does not, I'm amazed John Q Public can dress himself in the morning. They are marks for anyone with more than a month's sales experience, but the truth is its always been that way and in order for there to be wholesale cars these rubes have to buy them new. Now for the finanically savvy, we would always buy the uses model right? Try doing that today, I mean I see $500 junk advertised for $3,000+ everywhere and even if one can scrape up the min of $10K for something half decent, they don't know what its trading for and since Cox Automotive -who owns Manheim Auctions- bought Kelly Blue Book guess what? Nobody outside the business has any accurate valuation data anymore. NADA was always fiction but KBB in the mid 00s was +/- 15% of what most stuff traded for at the time. Now? At least 30% off, probably more. This is done on purpose to help the dealers who buy from Cox's Manheim division rip you off on retail sales.
I'm all for buy cheap and run it until it dies but a lot of what has been sold since 2005 is not reliable because of Fedgov mandates which ultimately hurt poor people. Direct injections, high pressure fuel systems, CVT transaxles, turbo motors. Every one of those things had significant teething issues and except in the case of safety every one of those is inferior to the automotive tech before it.
Sorry for the rant on this point, the truth is even the educated buyer is getting reemed these days and it will only get worse. Much of this plays into the themes of planned obsolesce, really theft of equity/ownership, but on a macro scale the theme of Agenda 2030 and the [un]sustainable future.
>You don’t need the newest phone yet everyone has the newest iPhone or galaxy.
I agree, but they hooked the kids on this junk and many of them have actual addiction problems now. Couple this the fact Apple was caught sabotaging older phones' performance through "updates", they are keeping you on a lease like cycle where you cannot own the device reliably more than a certain period. IT software has been this was since the 90s, you see it with the Windows upgrades every so many years but with the difference being MSFT doesn't sabotage the older systems after the date of expiration.
I bought a rare phone on E-bay from Hong Kong last year, Samsung Galaxy Folder. Its a flip phone and a smart phone, and per usual as I've noticed nothing good is ever carried in the US markets its always abroad. I bought it not knowing for sure it would work on US cell systems but took the risk at $275 and use it daily. Because it folds the screen doesn't get damaged, and with it being somewhat modern I can get bluetooth calls in the car and go on the internet while still being able to use it as a phone for calls. Best thing I've bought in years. Everyone asks about it and when I quote them $275 on E-bay its "wow so cheap" when from my POV its the most expensive phone I have ever had and was too expensive IMO (paid $60 after rebate for Motorola VE465 in 2008, finally broke in 2014). I don't allow it to update and the cell network doesn't push them down probably because its a weird unlocked Chinese market phone. I'll be using it for years, but the truth is buyers don't have any concept of things outside this market and country. I do agree what they do is foolish, but its not all their bad choices. Some of them do too much with the phones and the prospect of them being out of support is a real business issue.
>You don’t need to eat out every morning for breakfast but yet Starbucks and Dunkin’ Donuts drive-through‘s are always busy.
One thing I've noticed among the Millennials and occasionally myself depending on the job, is they work entirely too much and we all waste far too much time in the 20th Century concept of commuting. Because of this, there really is not time to cook a proper breakfast and due to the destruction of the family unit there isn't a spouse available to have something ready before they leave for work. So they choose quick sugar and or caffeine (both of which should be regulated), I mean I agree with you but this is the reality they face. For many years I would forgo breakfast and skip to a healthy lunch, for a number of years my former employer staffed a live kitchen and I could order whatever I wanted. Instead of worrying about cooking, I literally had a standing large lunch and dinner to go order which helped me lose a lot of weight and feel wonderful. Since then my weight has been up and down, most recently I started buying protein bars at Costco (1g sugar) and using them as a breakfast and lunch substitute. But I do this funny thing called thinking, most do not.
>You don’t need to go to a bar and spend $80 on drink but yet bars are the only reason most restaurants survive. People spend $10 on mixed drinks when you can get a 750 ML bottle for as little as 17 bucks.
Absolutely right, and I say this as someone who frequented bars when he was younger. Drinking in general should be something we limit as a society more for health reasons than financial ones.
>People are borrowing on credit more than ever.
Part of this is because of the dire circumstances of the true economy in the past thirty to fifty years. Some consumer goods -regardless of quality- have become very cheap such as the 60in TV. But the cost of everything else has skyrocketed, everything you really need. I trace this back to the Nixon Shock but it seems to have accelerated in recent years probably due to all of the funny money printed since 2008.
Essentially the cycle always was grow up -> work/taxes -> family -> acquire assets and things -> retire -> expire with relatively low inflation in the background and safe investments available. Now its grow up -> work/taxes and more taxes -> acquire things but not assets (and owning nothing) -> never retire -> expire on your feet or broken in state care. You can never own anything and even if you do then its with juice because wages vs asset prices have been so divorced for thirty years you cannot even hope to "buy" without the banksters. This is the consequence of a financialized system.
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