Rory Sutherland

For that idea, the agency in Australia got paid 350,000 Australian dollars.

Or rather, that's what they made from it.

So in other words, you have a billion dollar idea.

You get to buy a small flat in a crap part of Sydney.

Now, what I'm saying is that this is not me bleating about the advertising industry.

It's saying that anything like R&D or marketing, which is fat-tailed, in other words, a small percentage of what you do, it's Jeff Bezos' point about in business, in baseball, you can only score four.

In business, you can score 1,000.

In marketing...

When you score 1,000, and the purpose, half the purpose of marketing is not operational, gradual, incremental improvement.

It's finding another way to hit the ball out of the park and score 100.

If you cannot claim the credit for that, except to the extent that it delivers value in the quarter in which you had the idea or the financial year in which you had the idea, you are underfunding your marketing efforts.

It's like saying to – imagine you went to J.K.

Rowling and said, yep, you can have the royalties on the Harry Potter books, but only on the first edition.

And consequently, long-term marketing ideas, when you're paid by the hour or when you're evaluated by the quarter, as marketers would be – now, you wouldn't go into a pharmaceutical research company and say, did you invent a blockbuster drug this week?

No, or you're all fired.

You accept the fact that you spend a load of money –

Effectively, okay, this is the brutal truth.

You don't find entrepreneurs in chess clubs.

You find entrepreneurs in casinos.

They're playing poker.