David Rosenthal

Which also means, you know, a lot of these cars have been out there for a long time.

Things happen, right?

It means if you want to get it certified and you want to have it be officially blessed by Ferrari, you're going to have to pay Ferrari or your local dealer to restore it and return all the parts to official Ferrari parts.

Yes, indeed.

Yes.

And this ultimately creates the Ferrari pyramid.

And pyramid is such a great analogy, right?

Because if you want to grow the pyramid, grow the business, and you want to do so...

sustainably or as sustainably as possible as it is to grow a luxury brand you need to grow in all dimensions you need to grow the base you need to widen out the base and you need to grow the height the vertical so you need to be adding the icona series and the special series and etc etc if you also want to be expanding out the base everybody needs to have their place in the pyramid

I was wondering if you were going to bring this up.

And that has always been the core of what Ferrari is and why it is unique, going all the way back to 1947 and Enzo, like we've been talking about all episode.

It is the combination of three things under one roof.

a world-class racing team, a world-class racing car and racing car heritage construction company, and the suite of services and people needed to operate that, available for hire to private clients.

Ferrari's first electric vehicle designed...

in collaboration with Love From, Johnny Ive and Mark Newsome in San Francisco.

Yeah.

This was incredibly daring.

Because so many of the longtime Ferrari clients, the hardcore collectors, the petrolheads, the people who love the old school small displacement V12s and worship at the altar of Enzo.

This is anathema to them.

There were EU regulations saying that ICE cars would have to be phased out by 2030, 2035, you know, at some point in time.