https://www.construction-physics.com/p/no-inventions-no-inno...
> To maintain prices in the face of fluctuating demand, Gary would gather the industry’s leadership together in regular “Gary Dinners,” where price levels would be agreed upon and Gary would “exhort the chairmen, presidents, or other major owners of steel companies to maintain rank.” Those who refused to cooperate would be “disciplined” by the others. Many former Carnegie Steel executives, schooled in the intense competition of the Carnegie years, were allergic to this strategy, and departed for other steel companies.
> Under his leadership, the company successfully fought off a Justice Department lawsuit to break up the company as an illegal monopoly. (Perversely, the court ruled that the Gary Dinners proved that US Steel did not have the power to set prices, and thus couldn’t be a monopoly).
This makes me wonder if we just need totally different laws that are not going to be mired in lawsuits that drag out for years while monopolies and oligopolies continue making money. Maybe we just need higher taxes for the biggest corporations.
Seems to me that'd exacerbate the problem. We need more efficient business, not less. (An evergreen need, while !utopia.)
The feeling I get at the moment is the industry is very much entering a transitional phase, I think we are seeing the sunset of the Blast Furnace era, it's kind of where the open hearth furnace was at the dawn of BOF, something is going to have to replace BFs but it's still not 100% clear what the replacement is going to look like (or even if there will be a one size fits all replacement for Blast Furnace, it's possible that several processes will emerge suited to different regions) companies are reluctant to blink first and back the wrong horse. The capital costs are very high so backing the wrong technology and needing to pivot later could be ruinous.
Over the next 5 years or so I expect we will start seeing more (and larger) pilot scale projects but I don't think BFs will truly start getting displaced until early to mid 2030's. Companies still clinging to BF into the 2040's will be in trouble in my opinion.
That's...surprising.
[1] https://podcasts.apple.com/us/podcast/planet-money/id2907834...
There are not many industries like that anymore - steel still is, oil, and some industrial chemicals. But even Pharma has slightly different cost structures.
The big remining one is chip making - I wonder if “data centres” counts too?
Even though the Japanese are allies, we should always have a domestic iron in the fire.
Christ, we'd have an annual bailout for IBM's laptops to keep them from selling to Lenovo. I can just imagine: "All tech companies must buy Thinkpads. The government will give $20b to IBM to continue laptops" to the thunderous sound of HN cheering.
Bunch of closet communists here.
I still have relatives claiming that poor countries such as the Philippines, Thailand, and Egypt, and India are having 6+ kids per family.
Are we talking about children per household, do multi-generational families count? Then they're definitely more right than not.
Or are you all fumbling your way towards discussing the "birth rate", which is how it's usually discussed. That may or may not be the same as "kids per family".
US steel is a separate issue that also probably shouldn’t be sold, but at least with Japan there’s some reciprocity in access to markets.
I am pretty sure that at one point China was an ally and Japan an enemy. I think.
The difference really couldn't be more stark.
It's a question of US-opposed vs US-aligned country company ownership.
Japan is at least an allied country, and they wouldn't be buying a failing company to just throw it away. The company that mainly opposed it, Cleveland cliffs wants to buy the remains to have a complete monopoly on automotive metal supply.
But part of their revised bid before Nippon included a breakup fee in case their bid got blocked on anti-trust grounds. Which, on the one hand, while I will say I probably disagree with a lot of anti-trust policy enforcement currently, the implicit notion that the rival American acquisition is better is imo kinda laughable.
The things CC is mainly interested in are like entirely horizontal, ore production/pelletizing, and automotive steel.
Cliffs has already bought AK and Arcelor's US mills in the past 5 years, the fact that they would be allowed to consolidate the midwest further is like, what do you actually believe in?
You're wrong there. The U.S. Steel Corp. has a long history but hasn't been a the leader even in the U.S. for some time now. We are talking about a couple of very outdated steel plants coupled with some very outdated infrastructure, basically.
You can't "solve" TikTok short of shutting them down.
Most of it is publicly available, and what isn't can be estimated reliably via satellite imaging
Like, most of those tanks are just sitting out in the desert, in full view of global satellites.
YOU can collect that information for like a thousand bucks, by buying satellite imagery. People are doing that right now.
Economies of scale.
https://www.investopedia.com/terms/d/diseconomiesofscale.asp
The trick in any attempt to create economic policy like taxes is to balance these two needs of capitalism, and right now the balance is sorely in favor of the former against the latter.
Small efficient businesses are being bought by larger ones (and are often taken apart), reducing their impact on the market by reducing their ability to threaten larger businesses. Since capitalism helps people by reducing prices through competition, the ability for oligopolies to use market control to reduce threats to themselves ultimately creates market inefficiency that translates into larger consumer expenses and less common good.
Because we're experiencing oligopoly control in most market places, breaking them apart and reducing them with taxes are the two largest levers to create more market competition. I hope this makes sense.
I Google'd for "Nikon’s EUV program". First hit: https://www.nikon.com/company/ir/ir_library/event/pdf/2023/2...
Page 47:
> Nikon exited the development of EUV lithography systems about 10 years ago due to the enormous investments required for the development.
I could not find anything about "giv[ing] IP to ASML". Can you provide a reliable source?Second, what are you gonna do when you find a violation, fine them? If you can even prove it, we know how well that works.
Third, no matter how you bend the algorithm, I can make it bend further to do what I want.
Finally, China will just keep swallowing whatever penalty in order to keep feeding propaganda.
All you are doing is postponing the inevitable shutdown. You might as well get it over with now.
I see you're in the "government is always incompetent" camp. If, instead, we treat it as fallible; imperfect but not always incompetent, there's a reasonable job that can be done. (yes, even by the government.)
ideally there would be more creative penalties than mere fines, and in this fantasy world of mine, there would be proper, non-monetary incentives for compliance.
ultimately, full divestment of CCP influence on TikTok is the goal. If Mark Zuckerberg owned TikTok we'd be back to regular hating on social media, instead of this extra geopolitical version.
Now, the fear/hate is aimed at China, same reason.
Let's also not forget the reciprocity of the hostilities.
Like reintegrating Taiwan and HK? Anything else? Tibet I guess? I thought China was generally satisfied with its borders, except for areas it feels were split off due to external interference.
China has like ten times the population of japan, is now a dictatorship (like the roman republic, maybe?), the territory is massive, is a russian ally and a couple more reasons.
Think about it. In western countries (US, UK, EU, Japan, etc) you can have a court rule something that is seriously inconvenient for the government. In China and Russia that never happens.
It was just a group with a common enemy for short a time. Take Stalin, also part of "the Allies", he had invaded Poland together with Hitler and also invaded Finland. Couple of years later he was fighting Hitler because he got stabbed in the back by Hitler. And after WWII the west got into the coldwar with Stalin.
(excerpt: https://www.abhafoundation.org/assets/books/html/1984/24.htm...)
Things will probably change someday, but not anytime soon.
For them to become an enemy of the of the US would probably kill their economy.
Correction - Fisher Investment is the largest individual shareholder, with just a 0.05% stake. Stating "majority" would mean they own >50%.
https://www.wallstreetzen.com/stocks/us/nyse/tm/ownership#:~....
China has also been proactively setting up claims to various exclaves around the world, primarily in the Indian Ocean and Africa. They've set up various "debt traps" where they lend money to build infrastructure like ports to nations that have no serious chance at repaying the loans, and should they default then China receives control. Additionally China is pursuing traditional overseas military bases in Burma, Cuba, Equatorial Guinea, Pakistan, Seychelles, Sri Lanka, Tajikistan, Tanzania, and the UAE, in addition to bases it already has in Djibouti and Cambodia. Such bases are not in and of themselves expansionist, and probably are more about keeping vital trade links open, but increased ability to project power would be a pre-requisite for any expansionist goals in those regions.
Russia similarly feels Ukraine was split off due to "external interference". Makes the claim no more legitimate.
But also see https://en.wikipedia.org/wiki/Chinese_imperialism
The original claim was literally "China has never been a western ally". GP pointed out a counter example during WWII. Your response seems to be against a strawman argument...
However, I take issue with the term "Western". In this case, I would say the most advanced countries in OECD, which implies: highly functioning democracy and highly industrialised, capitalist economy. To be clear, for historical reasons there are some, err, odd members in OECD, including Turkey (currently a dysfunctional democracy) and Mexico (high levels of perceived corruption, drug war, poor control of police). And, to be fair, I don't have a good way to decide which are "the most advanced countires in OECD".
Sounds like all the moralizing is just chaff and it's pure power politics.
That said, if you think for 5 seconds there are some blatant recent and ongoing examples of USA and allies invading and killing a lot.
Russia has a story of the west systematically stripping their influence from Eastern Europe, overtly and covertly. Despite being warned we were pushing it too far.
Clausewitz is the only one who's objectively right in the end.
Despite everyone wanting to boast about their good deeds and demonize enemies for PR points, some actors genuinely do a better job towards prosperity than others, and you fall prey to the worse evil by equating everyone just being selfishly bad. No one is even close to 100% good, but that means we need to highlight what amounts each actor does good and what they do bad; all of them.
> Russia has a story of the west systematically stripping their influence from Eastern Europe, overtly and covertly.
Ultimately, this is bogus and not the real story. It just takes one look at Poland's GDP per capita chart: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
Poland broke off the old soviet chains and successfully integrated economic reforms to prosperity and trade with other successful western economies. Ukrainians are Polish neighbors and looked over there wondering "why tf are we so poor when the Poles are flourishing? Oh ya we still have these old soviet apparatchiks gouging our economy, let's instead make the western economic reforms a la Poland." Russia, being an 85% vote dictatorship and also a soviet apparatchik economy, realizes that just like Polish neighbors, having economically successful Ukrainian neighbors will cause average Russians to resent the exact same thing about their old stodgy economic oligarchs and ruin their golden tickets..."
There's a special place in hell for people who espouse "don't help Ukrainians, their government and economy is corrupt" when all they need is some support to take off the corrupt shackles, which they're trying to do, instead of abandoning them to remain strangled by the corruption.