[00:01] to tell you about Porsche's profits. A couple of years ago, they were billions of euros. Last year, they were 50 euros. >> Let's talk about the business case here. What I think is interesting here, they have a new CEO. He was at Porsche in the
[00:16] heyday, like 2010s, 2013s, making all the money. Then he went to Ferrari, saw McLaren for the past couple years. And at McLaren, his job was to get that >> And there's some things that translate
[00:28] >> in the products that they were making, and they had issues selling cars in China. Porsche also is 75% owned by VW. So, as VW goes, Porsche goes. Where I'm heading with all of this is VW wrote down $7 billion of value off of Porsche
[00:43] their forward-looking sales, they just didn't have the juice. So, their plan is, let's take the Ferrari playbook, let's be more of a luxury company, and let's really make sure that the high-end
[00:55] but are expensive. For years, if you went to go buy a Porsche GT car, you're >> Yeah. >> And if I am the CEO of Porsche, I would capture it. >> The drawback to that strategy, when
[01:09] Porsche comes in and tries to take that margin, it is a lot harder to put down Macan EVs on the dealers. The day that Porsche decides they want all that cash for themselves is the day that the dealers say, "If you give me one more
[01:21] Macan EV so I can put it on my overflow lot, I'm going to fly to Atlanta myself lot, I'm going to fly to Atlanta myself and start killing people."