porsche

Your morning briefing, the business news you need in just 15 minutes.

On today's podcast:
(1) Donald Trump has clinched the Republican presidential nomination, capping off a stunning political comeback fueled by grievance and vengeance and formally entering what's poised to be the longest and costliest general election in recent memory.

 (2) Polish President Andrzej Duda said Russian President Vladimir Putin will attack other states if the Kremlin wins its war in Ukraine as he sought to convince the US to approve further assistance for Kyiv.

(3) Citadel founder Ken Griffin said the Federal Reserve should move slowly in lowering interest rates to avoid the possibility of having to reverse course later.

(4) TikTok's Chief Executive Officer Shou Chew went to Capitol Hill Tuesday to lobby against a bill that would force the app's Chinese parent to sell it or face a ban in the US.

(5) The UK medicines agency has seized 869 fake Ozempic pens so far — more than its counterparts in Denmark, Ireland, Switzerland, Iceland and the Netherlands combined. The pens found in Britain include crude fakes as well as ones distributed in bulk by more sophisticated criminals. 

See omnystudio.com/listener for privacy information.

Nobody’s perfect — including Porsche. Despite that phrase appearing in their famous 1983 magazine advertisement, they managed to get damn-close to the perfect luxury business (even Bernard Arnault would be jealous!). Porsche is both quality AND quantity, owning the most prestigious brand in its market, while at the same time churning out almost half a million mass-market soccer mom/dad SUVs per year. And like any good luxury brand, it’s packed with enough juicy family drama and creeping takeovers to fill a Netflix series.

Yet, behind it all lies perhaps the darkest origin story we’ve ever told on Acquired. Not only was Porsche was started by Nazis, Adolf Hitler himself was deeply involved in its early fortunes. And, following WWII, the Allies simply looked past these facts and essentially bestowed a license to generate wealth on Porsche and its owners — setting the stage for them to become one of the top ~15 wealthiest families in the world today.

Joining us to explore it all is perhaps the very most-qualified person in the person in the world: the one & only Doug DeMuro. Not only is Doug the largest independent car reviewer on YouTube with millions of subscribers (we’re HUGE fans), he previously worked at Porsche corporate and owns a legendary Porsche Carrera GT — which served as the recording backdrop for this episode. Make sure you tune in to watch the video version! :)

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Links:

• Doug’s YouTube channel (which we HIGHLY recommend)
• Cars & Bids
• Episode sources

Carve Outs:

• ResortPass
• Seinfeld Cast Charlie Rose Interview Compilation
• WhistlinDiesel

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‍Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.