Ben Gilbert

Yeah.

But if Pepsi said, we broke into the vault and we got the Coca-Cola formula and we're releasing something called Pepsi C and that is identical to Coke...

something would go with it.

There would be some amount of value transferred from Coke to Pepsi.

Okay.

Yeah.

Some.

The public gives meaning to the formula, even if you can synthetically create something that tastes exactly the same as Coca-Cola.

I know you've been texting me all week that you think that the whole secret formula thing is a red herring.

You know, if anything, what you've convinced me of is that the bottlers are actually a cornered resource.

Those bottlers have great distribution and they're not bottling for anyone else.

Coke handed them a license to print money and they're doing it.

Yep.

I actually, I'm very curious.

Can you switch teams as a bottler?

Probably not.

Yeah.

Fascinating.

So listeners, this is something we added earlier this year where we really try to come up with something to land the plane.

What is our takeaway from the episode?