Ben Gilbert: belief

Transcript context

…All right, should we do value creation capture, and then we've got a new way to wrap up episodes here? Yes This section was originally created by us five years ago or something to basically assess of the value created in the world. How much does the company actually capture of it? Canonically, Craigslist creates a ton of value. Wikipedia creates a ton of value. It capture's very little of it. On the other hand, Google create a lot of value, you can find stuff on the internet. They're pretty damn good at capturing it. They've built a huge business on that. There, I think, is a reasonable indictment to make that many of you will want to make on all of luxury and say, it's just excess, they don't actually create value in the world, and then they capture a tremendous amount of value because they just have a brand that allows people to social signal, and all luxury is excess. That's a reasonable viewpoint. However, I think there's an interesting way to look at Hermes in particular, which is if what you desire is the highest quality craft they offer at an extreme price, a guarantee to be able to get that super high quality craft. That's different than every other luxury brand that is no longer about craftsmanship, but it's about hype and logos. Brands. Let's bring up brand and fashion.…

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