Ben Gilbert: observation

Transcript context

…What's the line that people always say, whenever Wall Street becomes disillusioned with Amazon, they say it's a charity being run for the benefit of the American consumer? Yes. A lot of people are laughing all the way to the bank on the other side of that bet. He makes this great point, which is, okay, let's say we are just a retailer with a retail business model. There are a few things that are pretty different. A gigantic cost in the retailing business is your rent. If you are in a retail space—it's funny when he's saying this—it's much less expensive than it is now in a Prime place in a city. He cites, it could be like $7 a foot for a great retail space. Oh, you're killing me. I'm thinking about San Francisco real estate.…

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