POWER!!!! Fortescue Future Industries, page-5808

"As for green hydrogen investing failures, I subscribe to the theory that if ya not making mistakes, ya not trying hard enough. The key is to learn from mistakes.....and adapt!"

Cheery sentiments, but FMG didn't need to spend hundreds of millions of dollars making those mistakes. The evidence that green hydrogen was not viable was already well-known. Heck, even a casual industry observer like me learnt about the serious technical challenges and lack of economic feasibility of green hydrogen by having just a few short chats with 3 or 4 industrial gas engineers.

For a mere few thousand dollars in consulting fees paid to a few independent industry experts, FMG management would have come to the same conclusion that has instead cost shareholders millions.

But for shareholders who aren't concerned how the managers of their investee companies spend money, this kind of misdirection of shareholder capital is seemingly of no consequence.

Strange times.

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