Viewing a single comment thread. View all comments

IslandChillin t1_j23g9js wrote

450M is like nothing to Saudi Arabia. The Saudi portfolio is getting ridiculous tbh

132

Pokerhobo t1_j23m4h1 wrote

They know that oil is limited, so they are doing whatever they can to have a future.

70

Zhukov-74 t1_j23qy1x wrote

>so they are doing whatever they can to have a future.

If only some other countries had such foresight.

48

bicameral_mind t1_j25dh55 wrote

It's easy when nearly all wealth is concentrated in the hands of one ruling family, effectively one person. Nothing pesky like disagreement or conflict of interest getting in the way like democratic governance. We aren't really talking about a 'country' here.

21

HolyAndOblivious t1_j265i31 wrote

Some regimes do have a benefit.

4

Test19s t1_j26djpi wrote

Until an absolute turkey of a leader takes power. Look at Xi Jinping for an example.

9

HolyAndOblivious t1_j26eg76 wrote

I know this is gonna sound weird. The Chinese way of "electing" leaders seemed to work for the country. If you ask me, the greatest damage Xi has done to the country is breaking tradition.

−1

I_m_a_turd t1_j272gh4 wrote

World class education and infrastructure that would benefit our populace? No thanks...we prefer to run a venture capital firm that our family can control.

2

Neato_Orpheus t1_j247lqh wrote

It ain’t gonna happen. You need to be innovative and to be innovative you need to have freedom of thought.

Saudi Arabia is doomed.

20

justAnotherLedditor t1_j24trsw wrote

Brainlet tier take.

−30

Neato_Orpheus t1_j24tyl0 wrote

Prove me wrong. Where has a repressive state ever made a marketable product?

17

[deleted] t1_j25qyg1 wrote

china?

1

Neato_Orpheus t1_j25rjlv wrote

I would argue that china manufactures products developed in the west. And then make copies of what the west designs. I can’t really think of products they’ve innovated.

They innovate In process and manufacturing. And again, there is more freedom of thought in China than Saudi Arabia.

8

apstls t1_j25y354 wrote

I don’t think he means make as in manufacture, but make as in conceive

4

millennium-wisdom t1_j27yv6f wrote

Indian, Chinese, Egyptian, Arab and Islamic civilizations

1

Neato_Orpheus t1_j27z2xf wrote

Uh this is way to broad. And tell me their products from a modern capitalist setting.

0

millennium-wisdom t1_j28bigl wrote

All were ruled by “ repressive authoritarian “ kings, Emprar, caliph and sultans and were able to innovate and produce products that the Europeans sought. I suggest you read about the Silk Road

0

Neato_Orpheus t1_j2a6twj wrote

Well considering that they weren’t capitalist societies I don’t think those apply.

And also what civilization and what time? India was not India until after the British Raj. The sub-continent had a variety of states.

Egyptian civilization lasted 1000s of years and we don’t see a lot of innovation from them comparatively. They were still using Bronze weapons until the Hitties showed up with Iron.

China did have a lot of innovation but usually when it wasnt a Legalist dynasty in power. All their golden ages came from the least repressive regimes. The Han and Tang dynasties were very open compared to their predecessors.

And the caliphs of the Muslim empires had some of the most open courts in the world. Scholars and Scientist from all over the world went to their courts. Chemistry and Math had their foundations there. The whole reason we have Plato’s and Aristotle’s texts are because they kept the records as well as developed the numerals we use today. That’s not repressive.

You don’t know what your talking about

1

millennium-wisdom t1_j2d1kre wrote

The Arabian civilization were the first capitalist society. They invented capitalism.

Muhammad ﷺ was the first Capitalist

Here are eleven basic principles set by him.

1 The Prophet ﷺ set up a market for the people, not controlled by the state.

2 He ﷺ did not tax it.

3 He ﷺ "was going to set prices, but determined that prices are in the hands of Allah."

4 People can own wealth, land, & the means of production.

5 The ruler has no rights over people's wealth (this hugely limits the ability to levy taxes).

6 The primary concern of the ruler, as per Sayyidna Umar, is "the stomachs of the poor."

7 Wealth sitting idle for a year is to be given to the poor at a rate of 2.5%.

8 Money-lending is an unlawful industry when the loan results in an increased return for the lender.

9 Finance requires partnership.

10 Wealth is better from the aspect of helping others: advancing the deen, supporting the needy, not having to ask people for money.

11 Poverty is better for one's own individual soul, based on the hadith, "You will conquer Persian & Byzantium and have one dress for the morning and another one in the evening.

See. Early Islam and the Birth of Capitalism Book by Benedikt Koehler

Egyptian invented lots of things. Off my head all musical instruments, the calendar alchemy.

1

justAnotherLedditor t1_j24wcfg wrote

Stop changing goalposts, no one was talking about marketable products until now.

−29

apstls t1_j25xvny wrote

…then what are we talking about? unmarketable products?

3

9-11GaveMe5G t1_j25oyj7 wrote

>450M is like nothing to Saudi Arabia

They spent more than that on golf

3

samz22 t1_j242mik wrote

I feel like there just burning money, few get a return but not instantly it’s a long hold. So if they keep burning money on garbage companies, how long till people start making companies just to please the saudis and get their investments and bounce lol

1

KingKlugg772 t1_j25urk3 wrote

In theory they make more money on interest than most countries GDP, they could buy the whole of start ups in 2023 and not break a sweat about it.

1

Vash2P t1_j241j68 wrote

Saudi Arabia is the country.

Saudia is the airline.

−9

HornyJamal t1_j268bfq wrote

Arabs like myself dont say Saudi Arabia. Thats for westerners. We just say Saudia

8