A Quote by Warren Buffett
I'll tell you why I like the cigarette business. It cost a penny to make. Sell it for a dollar. It's addictive. And there's a fantastic brand loyalty.
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I couldn't sell water in a desert. I have no business acumen. I can tell you why you have no business acumen, and I can tell you why your project may or may not work, but I have no ability to make money.
I do not sell life insurance. I sell money. I sell dollars for pennies apiece. My dollars cost 3 cents per dollar per year.
'As a fraction of your tax dollar today, what is the total cost of all spaceborne telescopes, planetary probes, the rovers on Mars, the International Space Station, the space shuttle, telescopes yet to orbit, and missions yet to fly?' Answer: one-half of one percent of each tax dollar. Half a penny. I'd prefer it were more: perhaps two cents on the dollar. Even during the storied Apollo era, peak NASA spending amounted to little more than four cents on the tax dollar.
Getting toxic lead out of gasoline, the oil industry shouted, would cost a dollar a gallon. It turned out to cost just a penny a gallon to protect hundreds of thousands of kids from lead-induced brain damage.
I don't shop by brand loyalty at all. I'm just drawn to what I like when I shop. I do like this brand called Tiger of Sweden a lot, though. They make great sportswear and tailoring. And Calvin Klein; big supporter of them as well.
If loyalty is, and always has been, perceived as obsolete, why do we continue to praise it? Because loyalty is essential to the most basic things that make life livable. Without loyalty there can be no love. Without loyalty there can be no family. Without loyalty there can be no friendship. Without loyalty there can be no commitment to community or country. And without those things, there can be no society.
I was always a kid trying to make a buck. I borrowed a dollar from my dad, went to the penny candy store, bought a dollar's worth of candy, set up my booth, and sold candy for five cents apiece. Ate half my inventory, made $2.50, gave my dad back his dollar.
The digital business is a fantastic business to be in. The only thing you have to do is build a cost structure for a declining business, which is different from the structure for a growing business.
I think when you take the job, you automatically assume that you work for the president. And you are part of a team. And loyalty is a big thing. It's, you know, as a former governor, I can tell you, loyalty and trust is everything when you're a CEO. And so I can totally understand why Donald Trump is looking for loyalty and trust.
If you sell what you do, you're a vendor. If you sell why you do it, you're a brand.
Everything we make in life, eventually, is sold for a dollar or a penny or given away.
There is a kind of a cascading chain, ... If one can't sell, then that business doesn't buy and that means the next business doesn't sell, and the previous business doesn't sell, and so on.
I've never felt like I was in the cookie business. I've always been in a feel good feeling business. My job is to sell joy. My job is to sell happiness. My job is to sell an experience.
My cousin Roger once told me, on the eve of his third wedding, that he felt marriage was addictive. Then he corrected himself. I mean early marriage, he said. The very start of a marriage. It's like a whole new beginning. You're entirely brand-new people; you haven't made any mistakes yet. You have a new place to live and new dishes and this new kind of, like, identity, this 'we' that gets invited everywhere together now. Why, sometimes your wife will have a brand-new name, even.
Good advertising can make people buy your product even if it sucks ... A dollar spent on brainwashing is more cost-effective than a dollar spent on product improvement.
Why make a movie about Ayrton Senna? Someone who drove around in circles at 200mph in a car that looked like a giant cigarette packet? Why would anyone who isn't already a fan of Formula 1 care?
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