Alejandro Velasco

Especially for the investments required to mount something as large as a car.

But of course, in the logic of limitless wealth, we can do all of the industry required and all of the infrastructure required to create that car.

But in order to make sure that people buy it domestically, especially if the competition is Ford, Chrysler, etc., we're going to also have to impose high tariffs on those exports and then basically get people to buy the local car as opposed to the imported car.

But people may not want it because its quality is not assured, right?

And so the viability and certainly the profitability of that national car is tied to a long-term reality that, as we talked about in a democratic context, is really difficult to see bear out.

And so...

They tried to start this.

First, they tried it through a tractor company.

The company was called Finatracto.

They built the infrastructure.

They built the warehouses.

They bought the machines.

And there wasn't a single tractor that left the production line before the oil money evaporated.

God.

And so, again, you can go and see the warehouse, and it's dilapidated.

But again, at the time, yes, there were lots of different opportunities and lots of excitement about how to start companies that are not tied to oil, which then creates for Latin America what is a very robust middle class.

This is a middle class who is benefiting from access to cheap dollars, and they use these cheap dollars to travel internationally.

This is the period of

as we remember it in Venezuela, which is to say, it's cheap, give me two.

And so you hop on a flight to Miami on a Friday and come back on a Sunday night.