Rory Sutherland

First house deposit. Well, actually, having £5,000 you can call on in a crisis is a really, really big difference. It fundamentally changes what people can do. Very interesting thing. When I first went to America, I was, I think I was 29, roughly. And I remember thinking, I'm glad I never came here when I was skint.

First house deposit. Well, actually, having £5,000 you can call on in a crisis is a really, really big difference. It fundamentally changes what people can do. Very interesting thing. When I first went to America, I was, I think I was 29, roughly. And I remember thinking, I'm glad I never came here when I was skint.

It's a terrible country in which not to have $10,000 sitting there. Correct. You know... You know, one bad thing goes wrong and suddenly, you know, you're in Leavenworth doing a nine stretch.

It's a terrible country in which not to have $10,000 sitting there. Correct. You know... You know, one bad thing goes wrong and suddenly, you know, you're in Leavenworth doing a nine stretch.

It's a terrible country in which not to have $10,000 sitting there. Correct. You know... You know, one bad thing goes wrong and suddenly, you know, you're in Leavenworth doing a nine stretch.

And so, you know, so there are these inflection points where you can take people, you know, one of them I always think is that when you start earning a bit above median income, you notice that actually it's quite nice because things are priced for people who are a bit poorer than you, you know. Televisions, for example, flat screen TVs. Let's be honest, okay?

And so, you know, so there are these inflection points where you can take people, you know, one of them I always think is that when you start earning a bit above median income, you notice that actually it's quite nice because things are priced for people who are a bit poorer than you, you know. Televisions, for example, flat screen TVs. Let's be honest, okay?

And so, you know, so there are these inflection points where you can take people, you know, one of them I always think is that when you start earning a bit above median income, you notice that actually it's quite nice because things are priced for people who are a bit poorer than you, you know. Televisions, for example, flat screen TVs. Let's be honest, okay?

Let's imagine that flat-screen TVs cost five grand, okay? We both would have bought one by now, but we don't have to pay five grand because they're priced for sale to people who earn a lot less than we do. And so, you know, I think there are these interesting inflection points in earnings. Now, what's really interesting, by the way, and this fascinates me, is the extent to which pre-2020...

Let's imagine that flat-screen TVs cost five grand, okay? We both would have bought one by now, but we don't have to pay five grand because they're priced for sale to people who earn a lot less than we do. And so, you know, I think there are these interesting inflection points in earnings. Now, what's really interesting, by the way, and this fascinates me, is the extent to which pre-2020...

Let's imagine that flat-screen TVs cost five grand, okay? We both would have bought one by now, but we don't have to pay five grand because they're priced for sale to people who earn a lot less than we do. And so, you know, I think there are these interesting inflection points in earnings. Now, what's really interesting, by the way, and this fascinates me, is the extent to which pre-2020...

The only real point of negotiation with your employer was how much they paid you. Because it was assumed that you worked a five-day week. It was assumed that you came into an office or some other place of work for five days and that you had hours and you had a place. Those were non-variables. And the only variable was your salary.

The only real point of negotiation with your employer was how much they paid you. Because it was assumed that you worked a five-day week. It was assumed that you came into an office or some other place of work for five days and that you had hours and you had a place. Those were non-variables. And the only variable was your salary.

The only real point of negotiation with your employer was how much they paid you. Because it was assumed that you worked a five-day week. It was assumed that you came into an office or some other place of work for five days and that you had hours and you had a place. Those were non-variables. And the only variable was your salary.

Now, to what extent will people start to practice lifestyle arbitrage, which is to say, well, I could work for Goldman Sachs in London for 200 and something, whatever, but actually 120,000 in Lisbon, okay, and a pretty good broadband connection.

Now, to what extent will people start to practice lifestyle arbitrage, which is to say, well, I could work for Goldman Sachs in London for 200 and something, whatever, but actually 120,000 in Lisbon, okay, and a pretty good broadband connection.

Now, to what extent will people start to practice lifestyle arbitrage, which is to say, well, I could work for Goldman Sachs in London for 200 and something, whatever, but actually 120,000 in Lisbon, okay, and a pretty good broadband connection.

Spending in... The number of people who might simply... I mean, by the way, that applies within the UK.

Spending in... The number of people who might simply... I mean, by the way, that applies within the UK.

Spending in... The number of people who might simply... I mean, by the way, that applies within the UK.