Rory Sutherland

What do you have back in Canada?

I've got to ask.

I have a Tesla.

Yeah, fine.

You see that, you know, do you have a sticker on it that says I bought this before Elon went mad or anything like that?

So the Canadians don't key your car.

I agree.

It's a little like biting the hand that feeds you, isn't it?

They occupy an environment.

If you think about it, they survive as Land Rover, Range Rover, because they have effectively created the category they dominate.

Right.

So I want more variety.

This is where your wonderful compatriot, Roger L. Martin, raise me upon him, makes this point that economists have this fantasy of the world of companies in direct competition driving down price and increasing efficiency while supplying the same thing.

which is based on a false premise that people know what they want to begin with.

Now, I would argue when you don't create differentiation, everybody suffers.

Now, let me explain.

Because if you have a differentiated car market, it makes the car market more valuable overall to investors because, you know, there is more variety within the market.

It benefits the companies because they can achieve a reasonable profit on what they do because it has some degree of scarcity or uniqueness.

And it benefits the consumer because the consumer ends up with more choice.

What often happens is you have something like a regulated telecoms market or you have a regulated insurance market.