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Can you tell us a little about BYD? And what do you want to talk about? Well, that's again something we would never have done in the beginning. But I got to this point because of legal reasons, BYD was so heavily suppressed that it was a Graham-type stock. These were Graham-type stocks , and it wasn't a startup, but a small company.
Do you see BYD doing infrastructure here in the US, or are they... No...No...No...No...I...I... BYD is doing monorails right now . They will make monorails in China. Would n't they do that here in the US? Well, they would, but I...it would be pretty stupid to say... Monorails in the US have always been a peanut business.
Parking. In China, they can get permits. The climate in China, they just go and do it. What about energy storage? Well, BYD is already a big company in the industry. Here in the USA? Of course. Everyone is going to engage in energy storage . You need to time shift the energy if it comes from the sun or wind.
Whatever you do... there will be plenty of storage space. This may sound like Max Planck's chauffeur knowledge, but when it comes to determining the sale price, the intrinsic value of a company, you want to compare that to the market capitalization of what? Just BYD, let's say. How would you... Oh, that's complicated.
And again , we learned something . When we bought the stock, we saw that a venture capitalist would pay three times as much for such a deal. So it was cheap as VC, and we saw that it was a good thing for VC because the guy was already doing small miracles. So, we...It was a cheap move, but it required special understanding .
And I wouldn't buy it if Li Lu found it. It was Li Lu who found her. And once we got to know each other, I got to know Wang Chuanfu, even though he can't speak a word of English. And Wang Chuanfu is a genius. And he is insightful. And he's honest, and he's a fanatic, and he loves his company, and so on, and so on, and so on, and what he can do is just incredible.
He is studying completely new technologies. And so it's mostly qualitative? It's all...Partly it's what they have, and partly it's what...It's quality, partly...I'm betting on the rider there. I mean, because he...I mean, and he has a bunch of Chinese young Chinese. You can't believe what these employees do.
It employs 230,000 Chinese people. 200 Berkshire has only 460,000 employees. Why? That's a lot of employees, and they can do things you wouldn't believe. You look at these young Chinese women... Yes, yes, they... Would you buy the whole company if they let you? Or I don't think so, because one of the reasons for his success is that the Chinese are proud of the eighth son of a peasant.
He is creating a small company himself and is still doing it. And a lot of other things they do, joint ventures in the automotive industry , these are joint ventures with the West that already existed. So, I mean, they love and are proud of their man, the son of farmers who did everything himself and is still Chinese.
So I wouldn't want to ruin this Chinese image by buying BYD. It works better the way it is. And, but you're right, I'm betting on the person to some extent. I was at their battery separator manufacturing plant. There are five companies in the world that already produce battery separators. This liquid comes in from the side and connects through its own chemical bond.
This is the most complicated [ __ ] process you've ever seen. It is very difficult to make. If you don't do it absolutely correctly, the battery will fail. He will just learn it. Boom. He simply finds out what he needs to know. Not many people can do that.
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