By John Gruber
For 138 years Lady Liberty watched over us — now it’s time to return the favor.
Speaking of The Economist, they have a great summary of how Porsche more or less pantsed a bunch of hedge funds and stealthily took a controlling share of Volkswagen.
The story itself is interesting, but there’s a larger lesson. Common sense would suggest that it would be Volkswagen taking over Porsche, not the other way around. I see Volkswagens on the street everywhere; I sometimes go a week without seeing a single Porsche. But unit sales are not the goal of business, profit is — and Porsche’s is a more profitable business. (Insert your own analogy between Porsche and Apple here.)
★ Monday, 3 November 2008