The mass production of Model 3 in 2018 H2 helped to improve the automotive sales gross margin in Q3 and Q4.
However, due to the price reduction in 2019 Q1, less absorption of fixed cost and more international deliveries, the automotive sales gross margin went back to the 18-19% region in 2019 Q1.
Though, Tesla reaffirmed its prior guidance of 360,000 to 400,000 vehicle deliveries in 2019, thanks to the confidence in Model 3.
China Sales
Although China (China and Europe mainly) sales in 2018 decreased compared to 2017, Tesla’s March performance in China is exceptional, with 9,273 in total (Model 3: 7515; Model X: 1490; Model S: 268)
Tesla Vehicles Sold in China 2019 Q1 | Source: Che Jing She, sohu.com
Many attributed the jump in sales to the “one time” price adjustment in China, including a ¥341 drop in the most expansive Model X (P100D), which then corrected by a general 3% increase.
Source: sohu.com
But the ongoing sales numbers is still in question.
While there are different types of fee (revenue) in Venmo like instant transfer and merchant fees, I was wondering if Venmo could do ads as well – like Instagram.
House Lannister – Lagavulin 9 Year Old | Source: Diageo
Game of Thrones House Lannister – Lagavulin 9 Year Old; SRP: $64.99 for 750ml; ABV 46%
The distillery of Lagavulin officially dates from 1816, when John Johnston and Archibald Campbell constructed two distilleries on the site. One of them became Lagavulin, taking over the other—which one is not exactly known. Records show illicit distillation in at least ten illegal distilleries on the site as far back as 1742 [Wikipedia]
(4) As long as person possesses a foreign nationality in addition to his Indonesian nationality he/she may not possess any land with ownership right…
Land ownership is called Hak Milik (Right of Ownership) (“HM”), the most complete land title available under Indonesian law. Only Indonesian citizens are allowed to hold HM
Also stated in this law, foreigners are permitted to purchase land or homes under the “Hak Pakai” or “Right to Use” title.
Article 41.
(1) The right of use is the right to use and/or to collect the product, from land directly controlled by the State, or land owned by other persons which gives the rights and obligations stipulated in the decision upon grating this right by the authorized official, or in the agreement to work the land, as far as it not conflict with the spirit and the provision of this law.
Article 42.
Those who may obtain the right of use are:
a. Indonesian citizen;
b. Foreigner residing in Indonesia;
c. Corporation which have been established according to Indonesian Law and having they seat in Indonesia;
d. Foreign corporations having a representation in Indonesia.
There is also the “right to lease”
Those who may become holders of the right to lease are:
a. Indonesian citizens;
b. Foreigner residing in Indonesia;
c. Corporation which has been established according to Indonesia law and having their seats in Indonesia;
d. Foreign corporation having a representative in Indonesia;
In practise, there are usually 3 ways:
1. Hak Pakai (right to use),
for a period up to 80 years (an initial period of 30 years and can be extended twice by 20 years and a further 30 years).
The Indonesian banks will NOT lend money to property owners that only have Hak Pakai status for their property.
PMA is a legal entity through which a foreign person, foreign company, or foreign government body can obtain the property ownership in Indonesia (meaning generating revenue streams and profit). The establishment of a PT PMA is regulated by Law No. 40/2007 regarding Limited Liability Companies.
PMA can acquire “Hak Guna Bangunana” (“HGB” ) titles, which is the “right to build”
HGB can later easily be converted back to Hak Milik, for example, if the property is sold to an Indonesian or if the foreign investor decides to use the Nominee method.
HGB has a maximum initial period of 30 years and can be extended for a maximum period of 20 years.
HBG can be mortgaged for credit applications to financial institutions.
3. Nominee method
Essentially, it is purchasing a property with its title in the name of an Indonesian citizen. Not allowed.
Books can be digital. It is good for distribution, near zero marginal cost of production, no burden on environment, reducing the barrier of knowledge.
There are public libraries that provide free borrowing for resources including books (physical).
Then here comes the question – why libraries don’t provide free digital version of books.
The Answer could be very simple.
No one will buy books then…..
—
Then there is another question – since public libraries are funded by governments (tax payers) and donors, why are books not subsidized by governments like healthcare or education.
Why don’t governments make a list of knowledge-based books nearly free?
Authors should receive a stream of cash flows from taxpayers, for the contribution of their books.
In a previous post about Starbucks, we talked about its potential in China.
China’s coffee consumption will explode, even considering major cities alone. Younger generations will consume more coffee and they will represent an increasing proportion of the overall urban population.
China coffee consumption potential | Source: Starbucks 6/19 Presentation
The expansion in terms of coverage & number of stores is very impressive: 9 stores by the end of 2017 and 2,370 stores by the end of 2019Q1, although most (91.3 %) of them are pick-up stores (see above).
By comparison, in May 2018, Starbucks announced that it is planning to build nearly 3,000 new stores in mainland China over the next few years (from 3,300 in 2018Q1 to 6,000 before the end of 2022).
When all the fellow streaming platforms are adding their original content capacities, on April 11, the biggest original content provider Disney Group finalized the pricing ($6.99/month) of its own streaming platform, Disney+. And the official US launch date is later this year on November 12.
Disney+ pricing | Source: Disney investor day presentation
What we’re going to do with the Disney direct-to-consumer app or platform is, first of all, we’re going to launch it in late 2019. We’re doing that for 2 reasons. First of all, as we exit the Netflix output deal, we don’t get access to our theatrical release movies until the beginning of ’19. Secondly, we wanted time to actually develop and build up original programming for the platform.
Following the 2016 transaction, Disney made plans to test BAMTech’s delivery and support of streaming video and other digital products from Disney|ABC Television Group and ESPN.
ESPN+ as a test-out
Following the 2017 transaction, Disney said it would launch its ESPN-branded multi-sport video streaming service in early 2018.
What is different though, is that the content on ESPN+ is not a replacement of cable subscriptions (at least for now). ESPN Plus will not provide live access to ESPN’s main channels like ESPN and ESPN2 – you’ll still need a cable subscription to authenticate and watch. [TechCrunch]
new ESPN app and ESPN+ | Source: theverge.com
After all, ESPN is originally a cable business and sports are heavily rely on ads. ESPN+ is an ad-embedded streaming service (video ads).
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