Luca di Montezemolo

It's the obvious thing to tie the emotion of your brand to.

Aston Martin has fallen down because they've been terrible at running a business.

McLaren, various changes in ownership and leadership and strategy.

So different for different reasons, but no one has over, what is it, 80 years been able to run the Ferrari playbook.

Certainly.

It's funny, David, you know this, but I talked with the CEO, Benedetto Vigna, yesterday, and he told me, we don't sell a car, we sell a dream.

And I think that captures that.

And the one thing I will add to that, back on our Rolex episode, we threw out the idea of a functional alibi, a reason you could claim that you need such a watch.

For Ferrari, they have lots of incredible alibis.

Most people do not experience the thing that you just described, feeling maximally alive and going right up to the edge.

But that is one of several...

plausible alibis for why you can convince yourself that you are buying this thing.

For me, it's the incredible engineering.

I think for some people, it's the racing heritage.

I also think they're cool manufacturing and their craftsmanship.

These are all tremendous assets that the brand has that are extremely plausible alibis that you can tell yourself why you are buying this.

Yeah, that's a great point.

Even if what you're really, really doing is social signaling.

Or you have too much money and you truly don't know what to do with it and this seems fun.

I've got a couple bits of trivia for you, David.