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Business, Economics, and Taxes: Capitalism. Yay? >=(
- Thread starter RaceBoarder
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aparch
Acetaminamerican
I think everything is cyclical and Tesla has spent a longer time at the top because "traditional" automakers have ignored EV and just bought their carbon offsets from Tesla.
Do I think Tesla is trash and will be at the bottom of the pile? No. But some automaker is going to briefly leapfrog Tesla.
I'm pretty sure it's gonna be Ford with their E-F150.
FadeToBlack&Gold
Microlot Marxist
Despite my skepticism that the electric F-150 can be sold to the typical pickup truck demographic, Ford does have 200,000 reservations for it. The Mach-E, while spiffy, is still a $50,000+ toy for the well-heeled. Ford's EV programs are nevertheless substantially ahead of GM's. GM has the Bolt (production of which has ground to halt) and...what else?
aparch
Acetaminamerican
GMC Hummer (yes, the Hummer name was brought back as a GMC truck, not its own line), and Cadillac is going 100% electric in a couple years (but.... they're also keeping the Blackwing V8 racing Cadillacs alive so... \_(ツ)_/ )
(Sidenote, with Hummer coming back as a single vehicle under GMC's branding, I'd really like to see the Camaro offered with a racing package called Pontiac. Hell, slap an eagle on the hood as well... Make Pontiac the "V-Series" of Chevy)
dxmnkd316
Lucia Apologist
So were Teslas
I initially shared your skepticism, but I don't anymore. I have three or four "truck guys" in my poker group and they can't stop talking about that frigging vehicle.
Handyman
Hug someone you care about...
Unless Tesla is able to ramp up production AND make it much more affordable they will never have any real hold on the market. Brand loyalty to the major names will win out in the end when they add more electric vehicles it almost always does.
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Handyman
Hug someone you care about...
I am going off the info I half listen too while working at the Auto Show here but I believe the plan is for GM to be majority electric soon. I am a GM guy (actually almost got a Volt not long ago) but I think they are at least 3 years behind where Ford and Toyota are. (probably way more than that I hardly follow this stuff)
As for Toyota and their hatred of Democracy...they aren't alone. Most of the companies that paused their donations picked them back up already just like some of us said they would. It didn't even last long enough for the traitors to notice.
aparch
Acetaminamerican
I forget the exact timeline but yeah, Chevy wants to go all in on electric. Cadillac is going to be where they go first because that's where they can hide the expense of EV in the costs, then to the bowties. Cadillac has been their "test ground" for the last couple years (Super Cruise, GM's answer to Tesla's Autopilot, is being worked/perfected with Cadillac, and the camera technology finally trickled down to Chevy).
As you accurately pointed out, GM isn't the trailblazer they once were, and are trailing Ford, Toyota, and Tesla as they break the ice from the lake ahead of GM. The (unfortunate) mixed reaction to the Volt* dampened their spirits. Thankfully the Bolt is doing better. But, despite being a trend setter (EV1, Volt); they are now slowly wading in after everyone else.
* Side note, the wife and I, also both big GM stans, were really interested in the Volt when it was announced because of the gas generator engine. Because our families live double the distance of EV battery ranges at the time, the gas generator finishing the trip was what we wanted. Neither of us could justify the expense of the car versus the limited space it had for when we did travel.
FadeToBlack&Gold
Microlot Marxist
My guess is that you have to approach the sale a little differently. Less focus on the zero emissions, more focus on the advantages of an all-electric powertrain.
aparch
Acetaminamerican
IIRC, that's what the preview video played up. Especially the outlets in the bed for tools. And the battery life they bragged was enough to get to work, use it like a generator all day, and have enough juice to get home at night.
Slap Shot
I got nothing
Handyman
Hug someone you care about...
Yes right now Tesla owns the market but they won't once Ford, GM, Toyota and others put out more EVs. The majors are still primarily internal combustion lines as of now. When that is no longer the case Tesla's market share will drop considerably especially if the majors are more affordable. Right now Tesla barely has competition, and what competition exists is either way too expensive for the average driver or has mediocre battery stats. Tesla having a major part of the market share of EVs now is about as impressive as Apple dominating the smartphone market back when the first IPhone came out...of course they did there isn't much choice.
Beyond brand loyalty, the problem Tesla is going to have is they don't have the ability to make cars at a rate that will match the big names. GM, Ford, Toyota and others can devote way more resources than Tesla even if they keep their internal combustion lines. Tesla has 4 plants one which is in China. Ford has double that in the US alone with 9. GM has 11. Toyota has 15 in the US and 36 around the world. (according to the very basic research I did) They also have a much stronger logistical network and ability to sell and repair at multiple locations in every major city in the US and around the world. When they decide to put their resources towards EVs they will have a built in advantage...its why they all look stupid for not having done this years ago they (and the United States) would be dominating the market and way ahead of the curve.
Tesla will be like all those apps and companies that are groundbreaking but end up losing steam when the big boys decide to get involved. Unless they are able to build more plants and sell more cars they will lose to basic attrition. Right now Tesla has a real stranglehold on the market and their proprietary stuff puts them way ahead. That won't be the case for very much longer and Musk knows it which is why he is so against BBB. Everything that is done to push the US into the 21st century will hurt Tesla in the long run unless he can ramp up production in a major way.
We can revisit this in 5 years :^)
Beyond brand loyalty, the problem Tesla is going to have is they don't have the ability to make cars at a rate that will match the big names. GM, Ford, Toyota and others can devote way more resources than Tesla even if they keep their internal combustion lines. Tesla has 4 plants one which is in China. Ford has double that in the US alone with 9. GM has 11. Toyota has 15 in the US and 36 around the world. (according to the very basic research I did) They also have a much stronger logistical network and ability to sell and repair at multiple locations in every major city in the US and around the world. When they decide to put their resources towards EVs they will have a built in advantage...its why they all look stupid for not having done this years ago they (and the United States) would be dominating the market and way ahead of the curve.
Tesla will be like all those apps and companies that are groundbreaking but end up losing steam when the big boys decide to get involved. Unless they are able to build more plants and sell more cars they will lose to basic attrition. Right now Tesla has a real stranglehold on the market and their proprietary stuff puts them way ahead. That won't be the case for very much longer and Musk knows it which is why he is so against BBB. Everything that is done to push the US into the 21st century will hurt Tesla in the long run unless he can ramp up production in a major way.
We can revisit this in 5 years :^)
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RaceBoarder
Waiting for the Snow to fly...
Sorry for the abrupt change in subject here, but I was wondering if y'all could help out with some resources since many of you are way more along in the process of Retirement Planning than I am...
I'm in need of some very basic resources to start learning about what my options are when it comes to retirement planning. I know next to nothing other than a 401k is a thing that exists and I need to put money for retirement SOMEWHERE. As sad as it is, that's just where life has me.
Background: I'm currently 38 and have nothing put away so far. Through work, I have a 401k that was set up a year ago and I contribute $57 each paycheck to it as that was the default setting when it was established. I need to pad my savings account in 2022 since I'll need to purchase a vehicle in the next 2-3 years and want to pay at least 1/3 (1/2-2/3 ideally) in cash up front. But beyond that I want everything else to go towards retirement. I have about $1000/month that isn't tied up with essential bills along with other random influxes of disposable cash at random points of the year (side job $$$). I'd like to have some "fuck around $$$", but I also know the clock is ticking here, so that's why I am seeking out my options.
I'll admit I'm a complete dumbass when it comes to advanced finances and taxes, so I need this stuff explained like I'm a 10 year old and getting my first bank account.
I'm in need of some very basic resources to start learning about what my options are when it comes to retirement planning. I know next to nothing other than a 401k is a thing that exists and I need to put money for retirement SOMEWHERE. As sad as it is, that's just where life has me.
Background: I'm currently 38 and have nothing put away so far. Through work, I have a 401k that was set up a year ago and I contribute $57 each paycheck to it as that was the default setting when it was established. I need to pad my savings account in 2022 since I'll need to purchase a vehicle in the next 2-3 years and want to pay at least 1/3 (1/2-2/3 ideally) in cash up front. But beyond that I want everything else to go towards retirement. I have about $1000/month that isn't tied up with essential bills along with other random influxes of disposable cash at random points of the year (side job $$$). I'd like to have some "fuck around $$$", but I also know the clock is ticking here, so that's why I am seeking out my options.
I'll admit I'm a complete dumbass when it comes to advanced finances and taxes, so I need this stuff explained like I'm a 10 year old and getting my first bank account.
Kepler
Si certus es dubita
We all started from no knowledge, RaceBoarder. Welcome to the struggle.
Here are my very basics, and believe me I'm only farther along because I'm older.
0. Pay off all your bad debt. Credit card debt is cancer. Zero it out as soon as possible. The debt that's smart to assume is school and mortgage as an investment vehicle, and then there are necessities like cars. But always be prudent with any debt you assume and always always always get the best terms.
1. Pay yourself first. Take advantage of tax deferment by putting everything you can into your 401(k). At the ABSOLUTE minimum, be sure to get up to your company's matching limit (usually around 5%, some as high as 8% but those seem to be rare now, some as low as 3%).
2. You're young so you can afford more risk. Have a decent proportion of your investment in an index fund, then distribute the remainder among higher risk small cap, international, etc. I personally never went crazy with risk, even when I was young. Always use low fee funds -- don't pay those fucks to gamble with your money.
3. A rule of thumb is have your age in proportion of bonds (so for you, 38% bonds, 62% stocks). Bonds are stable and a hedge against big market corrections. The idea is to ride the market while protecting yourself.
4. Many savvy people start investment accounts where they study sectors and invest in what they know. I never did; a man must know his limitations.
5. Always be looking for the next job -- people chronically undervalue themselves in the market. Show your employer ZERO loyalty, they have none to you. Never be afraid to ask for the moon in a salary negotiation. Always negotiate from strength: interview for your next job while you safely have a job, so you can walk away from any negotiation. Always negotiate as a ruthless shark -- the people fighting you over your salary aren't going to be your co-workers, they are the owner's paid lackeys whose only reason for existence is to steal him your time -- a part of your finite life -- at lowest cost to him, period. Fuck them or they will fuck you.
Those are my 5 (plus a zeroeth) C.R.E.A.M. Commandments.
Oh and obviously vote Democratic or nothing you do will matter because you and your loved ones will live in a Neo-feudal hellscape where the rich hunt you for sport.
Here are my very basics, and believe me I'm only farther along because I'm older.
0. Pay off all your bad debt. Credit card debt is cancer. Zero it out as soon as possible. The debt that's smart to assume is school and mortgage as an investment vehicle, and then there are necessities like cars. But always be prudent with any debt you assume and always always always get the best terms.
1. Pay yourself first. Take advantage of tax deferment by putting everything you can into your 401(k). At the ABSOLUTE minimum, be sure to get up to your company's matching limit (usually around 5%, some as high as 8% but those seem to be rare now, some as low as 3%).
2. You're young so you can afford more risk. Have a decent proportion of your investment in an index fund, then distribute the remainder among higher risk small cap, international, etc. I personally never went crazy with risk, even when I was young. Always use low fee funds -- don't pay those fucks to gamble with your money.
3. A rule of thumb is have your age in proportion of bonds (so for you, 38% bonds, 62% stocks). Bonds are stable and a hedge against big market corrections. The idea is to ride the market while protecting yourself.
4. Many savvy people start investment accounts where they study sectors and invest in what they know. I never did; a man must know his limitations.
5. Always be looking for the next job -- people chronically undervalue themselves in the market. Show your employer ZERO loyalty, they have none to you. Never be afraid to ask for the moon in a salary negotiation. Always negotiate from strength: interview for your next job while you safely have a job, so you can walk away from any negotiation. Always negotiate as a ruthless shark -- the people fighting you over your salary aren't going to be your co-workers, they are the owner's paid lackeys whose only reason for existence is to steal him your time -- a part of your finite life -- at lowest cost to him, period. Fuck them or they will fuck you.
Those are my 5 (plus a zeroeth) C.R.E.A.M. Commandments.
Oh and obviously vote Democratic or nothing you do will matter because you and your loved ones will live in a Neo-feudal hellscape where the rich hunt you for sport.
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I guess my main point of advice to you would be to try to avoid doing what you just did -- asking a bunch of strangers for advice on investing. There are a lot of smart people on this board, and maybe some smart investors. But my suggestion is that you try to find someone who is a professional who can give you good advice now, and going forward. Like trying to find a good dentist or lawyer or doctor or mechanic, that's not always easy. I would suggest by talking to friends and family for names of people they have used with success.
Second, ask a lot of questions of your professional, when you first hire them, and as you move forward. Make sure you understand what you are investing in, why, and what it costs you.
Third, don't get caught up in the daily, monthly or yearly fluctuations in your accounts. Put as much money away as you can, as early as you can, and keep doing that. Exponential growth will take care of the rest.
RaceBoarder
Waiting for the Snow to fly...
Thank you for the insight Kep.
I should have mentioned that I am actually 100% debt free currently. I own my vehicle outright, credit card balances are all paid off each month, and I'm currently renting an apartment, so no mortgage. That is the big reason why I took so long to get started on this as I was in a huge hole with student and medical debt. But I am on solid footing in that respect currently.
Kepler
Si certus es dubita
I mean, yes, agree on all three, though for #3 read compounding, not exponential.
When people hear "exponential" they are thinking P = C[SUP]t, [/SUP]not P = C e [SUP]rt[/SUP]
dxmnkd316
Lucia Apologist
401(k)s should be almost exclusively invested in the broad market. S&P500 index. Usually next to nothing in fees and reliable performance. If you want to take the guesswork out even more, consider target funds. A little more expensive, a little more conservative, but it's broadly the best strategy for the most people. Risky shit when you're young, moves more a d more to bond and wealth preservation as you get closer to retirement.
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