David Rosenthal: belief

Transcript context

…In order to understand the role of retail in America today, you first need to understand that everything we think of as a retailer or most things we think of as retailer, are actually discounters. I totally didn't get that before doing the Walmart episode. I was like, well, there are stores, like Walmart, Target, and there are department stores, which are more expensive and opinionated, and then the brands that have their own stores. I didn't conceptualize that the most common place that you buy things are actually discounters. Walmart was really the company that single-handedly created the wave of the modern store, period, which then Amazon could take digital. I was so blown away learning about Walmart, how much of a tech company they were. I think we said on the episode, and I still think that they were the first applied technology company in America. I think this is silly. I think you've said this a few times now. I don't agree with it. Technology, at its purest definition, is anything that enhances the productivity of a human. The wheel is technology, because with the same number of calories burned, you're able to go farther. Or a navigational instrument, which means you're able to get somewhere in a shorter amount of time. Maybe you could scope it to apply digital technology.…

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