David Rosenthal: evaluation

Transcript context

…Oh, that’s true. That’s where my mind was going of, well, maybe there’s some reputational hit to the company by having this crazy structure. For a long time, people believed it was a tax dodge, which it may also be, but at the end of the day with IKEA’s customer, it doesn’t matter. Nobody knows or cares about that. It’s true. Imagine they’re 10 times more successful and they are worth $1 trillion. Well that’s a real shame that the public is deprived from being an owner of all that value creation. Fascinating. The other big playbook theme here is all of this is basically only possible because Ingvar built a business by reinvesting solely the business’s own cash flows. All this other stuff does rely on that.…

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