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Yes, the new Ferrari EV looks dumb. We all know it does. But we’re not the target market. China is. And it’s going to fly off dealer lots over there. Worldwide, China is now by far the largest market for luxury goods (Swiss watches, jewelry, high-end fashion, etc.), representing at least 30% of global sales. And it’s an especially critical market for ultra-luxury vehicle brands like Rolls Royce, Bentley, Mercedes’ Maybach line, Porsche’s higher-end models, and Ferrari. There are two major reasons for this: One is that China is simply a massive country, and, as its economy has boomed over the last five decades, it has produced the largest number of wealthy people anywhere in the world outside the US. There are now an estimated 50,000 ultra high net worth individuals ($30M+ net worth) in China, and the number is growing faster than anywhere else on the planet. The second is that China’s wealthy people—far more than those of America and Europe—are willing to spend their money on luxury consumption. The reasons for this are complex—part of it is probably that most Chinese wealth has been generated since only 1990, meaning that most UHNW Chinese families are first- or second-generation nouveau riche; part of it flows from the Chinese “mianzi” concept of social currency, under which signaling personal status via luxury brands is socially incentivized—but the effect is that rich people seek out the most prestigious and expensive brands, and they’re willing to pay to do so. Especially when it comes to ultra-luxury vehicles, which are frequently given as gifts for weddings, the sealing of business relationships, and life milestones. The net effect of this is that the ideal customer profile for Ferrari is no longer a fourth-generation Italian textile heir or an exited San Francisco tech founder; it’s a 32-year-old Chinese guy stepping into a C-suite role at his dad’s copper foundry after getting his MBA from Wharton or INSEAD. These guys want the Ferrari logo, but they want it on something electric (EV’s are highly encouraged by the Chinese government, especially in the large cities in which UHNW people congregate), and they want it on an ultramodern vehicle that looks and feels more like something that came out of a BYD or NIO showroom. So that’s why this new Ferrari EV looks the way it does, rather than like an electrified version of an F40 or a 360 Modena. It might look dumb to us, but it’s not going to look dumb for Ferrari’s shareholders.

High Command has authorized a new mobilization order following increased enemy resistance across active warzones. Helldivers are required to reinforce ongoing operations and restore stability to the frontlines. Immediate deployment readiness is advised. Propaganda Commander Tana_Sukke is calling for volunteers on May 23rd to undergo combat readiness training ahead of deployment. All recruits are ordered to report to the designated Propaganda Commander at the stated time, form squads, and deploy immediately into live combat operations. Those who successfully complete their objectives and extract will be rewarded with Super Credits for their service to Managed Democracy.

You guys want to save money on food? Get a job that requires you to travel all over the country and you won’t even have to pay for your own food. Or gas. Or laundry. Or lodging. Pretty cool. I’ve had sushi like 5 times this week.

How some of y'all would be if I came out as a silly girlfailure instead of an autistic twink loser.

Because of all the Moscow news yesterday, you might've missed this one — but we’ve been working on it for a while, so please appreciate it: we strapped missiles to drones. We now have drones with missiles. That’s right. Missile drones. 🛩️🚀 Pew pew, mfs. 😈

The deep Ukrainian history of Semyon Mogilevich, the most powerful mobster in the world Also, is Zelensky Russia's 'Agent Pinocchio'? Link in reply

truecels only on this side