Luca di Montezemolo

They can do things Pagani can't, but they can also do things that Toyota can't.

Yes, exactly.

And they're small enough, but not too small.

Yes.

If they were any bigger, they would be sort of handcuffed by their overhead.

And if they were any smaller, then they couldn't do some of the innovations that they do and design all the programs they design and all that sort of thing.

Exactly.

Yeah.

Yeah.

Yes.

Network economies, by having a robust, rich community around your product, are almost this free defensibility because there's just so much more predisposition to want to buy something with a Ferrari logo on it because of the network economy you were just describing, David.

All right.

You just pulled forward my quintessence, so I'm just going to do it now.

Great.

Ferrari is both inclusive and exclusive.

It has the exclusivity of a luxury brand, but the inclusivity of a sports team.

Yeah, that's it.

I mean, it's this amazing marriage that this is going to sound so self-serving, but I was just sitting there nodding, reading their financials because this is exactly acquired strategy.

We are unbelievably exclusive about the companies that we are willing to do these editorial deep dives on.

We're unbelievably exclusive about our sponsors, and yet we're as inclusive as possible for the community.