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A man who destroyed his multimillion dollar company in 10 seconds (2018)

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Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#131

Post by gdy »

eloff wrote: post #79
roland35 wrote: post #54

Earlier quoted context omitted.

Whenever there is a huge power mismatch in a relationship - that is generally not a situation where you can't say someone is not coerced in any way. Especially when the person in question is the president of the United States!

It's also generally not a situation where you can say someone was coerced in any way without knowing more details. They are two adults engaging in consensual activity. I seriously doubt she thought there would be negative consequences if she said no. More likely she thought she might stand to gain something if she went along with it, but that's hardly coercion. I don't know, I have somewhat different thinking about s…

The goal is to collapse your comment and prevent other people from seeing it, not to change your opinion.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#132

Post by jolux »

sudhirj wrote: post #8

This is really applicable to any products that are valued based on their marketing efforts instead of intrinsic value or utility. Costume jewellery, designer clothes, some kinds of art, all derive their value from the story the creators tell. The most expensive art seems to be that which has the most thoroughly verified, or at least the most believable story. I like to think I’d prefer Apple products over the competi…

Apple stuff is just so clearly beyond anything the competition provides with regards to software, though. I don’t really buy them for the hardware, I buy them because I don’t like Windows or Android, and I don’t want to futz with Linux. Android is still too inconsistent design-wise.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#133

Post by walshemj »

throwaway6845 wrote: post #117

> Elon Musk (right) has drawn comparisons to Gerald Ratner in recent years The 1980s British businessman who Musk most reminds me of is not Gerald Ratner but Robert Maxwell.

Really I don't recall Elon doing any of the really shady shit that Maxwell did.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#135

Post by rootusrootus »

sudhirj wrote: post #8

This is really applicable to any products that are valued based on their marketing efforts instead of intrinsic value or utility. Costume jewellery, designer clothes, some kinds of art, all derive their value from the story the creators tell. The most expensive art seems to be that which has the most thoroughly verified, or at least the most believable story. I like to think I’d prefer Apple products over the competi…

I buy Apple products in spite of Cook and Ive. I am mostly ambivalent about Cook, though I don't think he's nearly as strong a leader as Jobs was. And I really dislike Ive. If he disavowed his designs as coming from an intern, I'd feel relieved.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#136

Post by seem_2211 »

walshemj wrote: post #133
throwaway6845 wrote: post #117

> Elon Musk (right) has drawn comparisons to Gerald Ratner in recent years The 1980s British businessman who Musk most reminds me of is not Gerald Ratner but Robert Maxwell.

Really I don't recall Elon doing any of the really shady shit that Maxwell did.

You should take a closer look at Elon Musk (starting with some of the sketchy shenanigans at Solar City).

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#137

Post by SomeOtherThrow »

spzb wrote: post #46
Axsuul wrote: post #35

Earlier quoted context omitted.

But did it really put them out of business? They did a re-org as Signet Jewelers and is now the world's largest retailer of diamonds.

As a brand it put Ratners out of business. Your average man in the street isn't aware of the corporate structures behind the high street brands.

That's way less of an exciting headline, though. The company is the only way to realize the value of a brand, and if the company is still doing fine today, it considerably weakens the lessons here: it's apparently not even that bad in the worst case scenario.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#138

Post by overcast »

jodrellblank wrote: post #112
overcast wrote: post #9

What I don't understand, is how it wasn't immediately apparent this stuff was junk? You couldn't possibly think that it was equal in quality to much more expensive competitors. I guess it's just the case of not being real, until someone says it.

As someone who couldn't tell a sherry decanter from a hole in the wall, I assume it is equal in quality to more expensive competitors; that is to say, more expensive competitors charge more for effectively the same products. It's a glass bottle, it doesn't leak, it doesn't shatter when you pick it up. Apart from appearance, how much better quality could it usefully be?

Sure, but common sense comes in to play when the one you bought is valued at $1, and everywhere else is $1000. And if everyone knew and didn't care, then why blow it up as if it was some big secret?

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#139

Post by seem_2211 »

sudhirj wrote: post #8

This is really applicable to any products that are valued based on their marketing efforts instead of intrinsic value or utility. Costume jewellery, designer clothes, some kinds of art, all derive their value from the story the creators tell. The most expensive art seems to be that which has the most thoroughly verified, or at least the most believable story. I like to think I’d prefer Apple products over the competi…

Price, value and practical utility are not really correlated.

A Rolex and a Timex will both tell you the time. An iPhone and a $129 Android will do mostly similar things. A Toyota Camry and a Porsche will both get you to work.

But practical utility and value aren't necessarily the most important thing.

Apple intuitively understood this, at a time when other computer companies didn't. Lots of people look at a Macbook and see an overpriced computer that costs a few hundred dollars more than a similarly equipped PC, albeit in a pretty case. But that's the point - lots of people want their computer to look good!

Apple products are relatively cheap to produce - and they make an enormous margin on their hardware. But it doesn't feel cheap. The boxes are substantial. The finishings are high quality. The user experience is taken care of. Other PC makers might have been much cheaper, but you notice that to do so, they've cut corners in places.

I don't think the lesson here is in what he said, but rather that he made his customers feel like idiots. Only a fool would believe that a ring for £1 has the level of quality and craftsmanship that you'd get with a £100 ring, but you don't want to feel like a dumbass for buying it. You don't go to McDonalds with expectations of buying a Michelin Star meal. You go there for something warm & tasty, that comes out quickly.

Re: A man who destroyed his multimillion dollar company in 10 seconds (2018)

#140

Post by jcims »

bgibbons wrote: post #134

Wow...insert foot in mouth. It is pretty unbelievable that today leaders of immense influence i.e. Elon Musk, others referenced in the article aren't more careful with what they might put out in a Tweet. Truly amazing.

That's one way to look at it. Another way to look at it is that constantly vomiting BS into twitter will erode its value as a source of material information.

Anybody that makes a giant investment decision based on a Musk tweet now is certifiable.

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