1. Exquisite Tweets from @Nicolas_Colin

    PreoccupationsCollected by Preoccupations

    1/ I'm currently spending a few weeks in Germany, a good opportunity to read and reflect on that great country.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    2/ My firm @_TheFamily has been present in Berlin for almost a year now, exploring the ecosystem and working with local entrepreneurs.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    3/ From a startup point of view, Germany is a paradox. On the one hand, it is currently standing out as the strongest economy in Europe.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    4/ On the other hand, there are hardly any signs of Germany succeeding in tech with a scale comparable to the US, China, and Israel.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    5/ The origins of the German economic strength date back to 1948, when Ludwig Erhard decided to bail out German business assets.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    6/ (While wiping out paper money for private saversβ€”an extraordinary decision that would be impracticable today.)

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    7/ Erhard's fateful decision contributed to much of German industry still being owned by families rather than outside investors.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    8/ It inspired a unique corporate culture in which, as once remarked by legendary hedge fund manager Julian Robertson, ...

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    9/ German managers β€œcan not care less about return on equity". Due to the large German banks’ shareholding interest in corporations and.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    10/ ...the unique role of trade unions and industry associations, Germany keeps on imposing a long-term view of corporate management.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    11/ It all explains the unique, clear, strong strategic positioning of the German economy, which rests on three pillars.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    12/ Pillar #1: German added value is all about exports (cars, chemical products, machine tools), which requires competitiveness.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    13/ Pillar #2: Competitiveness depends on (i) fair competition (which brings the prices down), (ii) monetary stability, (iii) low wages.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    14/ Pillar #3: Such pressure would be unbearable if it were not for the incredible level of corporatism in every part of the economy.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    15/ Indeed many institutions in the German economy contribute to making life easier for low-paid workers. A few examples: ...

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

    16/ Germans are global leaders when it comes to discount stores, with Aldi, Lidl, Rewe, Metro. Even Walmart couldn't compete in Germany.

    Reply Retweet Like

    Nicolas_Colin

    Nicolas Colin πŸ‡ͺπŸ‡Ί

  2. Missing tweet: 893343782841729024

  3. Missing tweet: 893343783860838400

  4. Missing tweet: 893343785018511360

  5. Missing tweet: 893343786134257669

  6. Missing tweet: 893343787430191104

  7. Missing tweet: 893343788369760256

  8. Missing tweet: 893343789288308736

  9. Missing tweet: 893343790294941696

  10. Missing tweet: 893343791381225472

  11. Missing tweet: 893343792417226752

  12. Missing tweet: 893343793335877632

  13. Missing tweet: 893343794245943296

  14. Missing tweet: 893343795323953153

  15. Missing tweet: 893343796250918912