[HN Gopher] Volkswagen targets $70.1B to $75.1B valuation in pla...
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       Volkswagen targets $70.1B to $75.1B valuation in planned Porsche
       IPO
        
       Author : mfiguiere
       Score  : 11 points
       Date   : 2022-09-18 19:47 UTC (3 hours ago)
        
 (HTM) web link (www.cnbc.com)
 (TXT) w3m dump (www.cnbc.com)
        
       | Kukumber wrote:
       | Why would they do that, Porsche is a strong brand they do not
       | need that, i called it, we are living the beginning of the death
       | of the German automobile industry, them embracing android/iOS car
       | OS, what ever it is called, was already a sign, to the doubters,
       | there is 0 car OS ecosystem, tesla proved it, it has to be built
       | from the ground up, it's the perfect opportunity to create an
       | alternative to iOS/Android, alongside with smart watches, and yet
       | they went with them, sign of poor skills and poor taste at the
       | top of the hierarchy
       | 
       | short term CEO for a quick short
        
         | parkingrift wrote:
         | >to the doubters, there is 0 car OS ecosystem, tesla proved it,
         | it has to be built from the ground up, it's the perfect
         | opportunity to create an alternative to iOS/Android
         | 
         | Counterpoint: I will not buy a car that does not support Apple
         | CarPlay. That includes Tesla. I don't want to deal with
         | whatever proprietary garbage the manufacturer wants to run. I
         | don't want to sync contacts and settings to some half assed
         | service a car manufacturer created.
         | 
         | Nope. I won't even entertain buying a car that doesn't support
         | CarPlay.
        
           | Kukumber wrote:
           | I agree with you, proprietary software is a thing of the past
           | 
           | If it's not open and opensource, it is dead on arrival
        
           | Spivak wrote:
           | Well yeah, because everything except Android Auto and CarPlay
           | are _garbage_. I think it's very possible that if a not
           | garbage entrant not affiliated with an existing mobile OS but
           | also not tied to particular manufacturers popped up it might
           | sway people. The tie in with the OS might not end up being
           | that important, Spotify is bigger than Apple Music and YT
           | Music after all so platforms don't have infinite lock-in
           | power.
        
         | theluketaylor wrote:
         | It's non-voting shares. It's free money without any risk of
         | losing control.
         | 
         | The Volkswagen corporate structure is really confusing due to
         | complex financial maneuvering by the Porsche/Piech family over
         | the past 20 years. 30% of Volkswagen AG is owned by Porsche SE
         | (a holding company under the control of the Porsche/Piech
         | family, not the car maker), but those shares are more than 50%
         | of the voting shares. Volkswagen AG contain Porsche AG (the car
         | maker).
         | 
         | Porsche has been a money printing machine for quite a while, so
         | why not cash in with an IPO when there is 0 risk of losing
         | control?
        
           | Kukumber wrote:
           | https://www.washingtonpost.com/business/porsche-and-
           | volkswag...
        
           | nemothekid wrote:
           | > _Porsche has been a money printing machine for quite a
           | while, so why not cash in with an IPO when there is 0 risk of
           | losing control?_
           | 
           | Even if its free, everyone who works there may now start to
           | base their performance off the stock price.
        
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       (page generated 2022-09-18 23:01 UTC)