Office Hours: Apple Car Acquisitions, Mission Statements, and Going into Business With Your Family

Canoo Acquisition

Scott Galloway explores the potential acquisition of Canoo by Apple, highlighting its strategic fit for Apple's EV ambitions. He notes that Canoo, an electric vehicle startup, is struggling financially, making it a potential target for acquisition at a low cost. Scott suggests that Apple's disciplined acquisition strategy could make Canoo an attractive option, especially given its market cap of around $830 million.

Businesses don't go out of business because they're bad ideas; they go out of business because they run out of cash.

--- Scott Galloway

He also speculates that Apple might consider other partnerships or acquisitions to strengthen its supply chain and design capabilities in the automotive sector 1 2.

   

Market Impact

The potential entry of Apple into the EV market could significantly disrupt the industry, according to Scott. He believes that once Apple unveils its electric vehicle, it will create a massive shift in consumer interest and capital from competitors like Tesla. Scott humorously notes that the Apple brand's allure could lead to a waiting list of millions, eager to own an Apple-branded car.

The moment Tim Cook pulls back a recycled dolphin-friendly cloth from over a piece of metal...that waiting list becomes the most valuable waiting list ever assembled.

--- Scott Galloway

This move could intensify competition in the EV space, potentially leading to a reallocation of resources and consumer loyalty towards Apple 3.