Rory Sutherland

Talking to someone this morning, I better not give away who they are, who discovered that Rightmove, there are areas of London which are holes. In other words, they don't fall into any predefined area on Rightmove. And property prices in those areas are disproportionately low. Because you can't search for any property that's in that area. Now, it might be if you're looking for a much bigger area.

Talking to someone this morning, I better not give away who they are, who discovered that Rightmove, there are areas of London which are holes. In other words, they don't fall into any predefined area on Rightmove. And property prices in those areas are disproportionately low. Because you can't search for any property that's in that area. Now, it might be if you're looking for a much bigger area.

Talking to someone this morning, I better not give away who they are, who discovered that Rightmove, there are areas of London which are holes. In other words, they don't fall into any predefined area on Rightmove. And property prices in those areas are disproportionately low. Because you can't search for any property that's in that area. Now, it might be if you're looking for a much bigger area.

But in other words, they're not in Kensington.

But in other words, they're not in Kensington.

But in other words, they're not in Kensington.

In other words, they're these weird little islands of undefined location where you can actually find disproportionately cheap property because Rightmove is kind of blind to their existence. Wow. You also have the problem, which is you can't sell a property, apparently, now for £850,000. Right. Your estate agent or anybody else will tell you, no, no, you've got to make it, say, 810 or 890.

In other words, they're these weird little islands of undefined location where you can actually find disproportionately cheap property because Rightmove is kind of blind to their existence. Wow. You also have the problem, which is you can't sell a property, apparently, now for £850,000. Right. Your estate agent or anybody else will tell you, no, no, you've got to make it, say, 810 or 890.

In other words, they're these weird little islands of undefined location where you can actually find disproportionately cheap property because Rightmove is kind of blind to their existence. Wow. You also have the problem, which is you can't sell a property, apparently, now for £850,000. Right. Your estate agent or anybody else will tell you, no, no, you've got to make it, say, 810 or 890.

Okay, that's fine. And the reason is that people search for property either 900,000 and down or 800,000 and up. And two things happen. One, they're less likely to find you at all because you're further away from their searching point. Secondly, if they do find you, the people who are searching 900 and down are a bit disquieted because they think you're too cheap.

Okay, that's fine. And the reason is that people search for property either 900,000 and down or 800,000 and up. And two things happen. One, they're less likely to find you at all because you're further away from their searching point. Secondly, if they do find you, the people who are searching 900 and down are a bit disquieted because they think you're too cheap.

Okay, that's fine. And the reason is that people search for property either 900,000 and down or 800,000 and up. And two things happen. One, they're less likely to find you at all because you're further away from their searching point. Secondly, if they do find you, the people who are searching 900 and down are a bit disquieted because they think you're too cheap.

And the people who are searching 800 and up think you're a bit too expensive. So the extent to which what seems like a completely rational filtration process in online searching activity or decision making may be deeply flawed because it doesn't reflect the way in which we make decisions in the real world, which is we recalibrate what we want according to what we find.

And the people who are searching 800 and up think you're a bit too expensive. So the extent to which what seems like a completely rational filtration process in online searching activity or decision making may be deeply flawed because it doesn't reflect the way in which we make decisions in the real world, which is we recalibrate what we want according to what we find.

And the people who are searching 800 and up think you're a bit too expensive. So the extent to which what seems like a completely rational filtration process in online searching activity or decision making may be deeply flawed because it doesn't reflect the way in which we make decisions in the real world, which is we recalibrate what we want according to what we find.

Oh, the story at the beginning. No, that's just a story about how undoubtedly in all kinds of areas, driven partly by technology, what's urgent crowds out what's important. And it's a joke.

Oh, the story at the beginning. No, that's just a story about how undoubtedly in all kinds of areas, driven partly by technology, what's urgent crowds out what's important. And it's a joke.

Oh, the story at the beginning. No, that's just a story about how undoubtedly in all kinds of areas, driven partly by technology, what's urgent crowds out what's important. And it's a joke.

It's an old advertising joke told to me by someone who is literally from the Mad Men era, which is you have a copywriter, an art director, and an account man, okay, who are boarding a plane to present work to a client. And they open the overhead locker and somewhat implausibly a genie gets out and says, I've been trapped in that overhead locker for years.

It's an old advertising joke told to me by someone who is literally from the Mad Men era, which is you have a copywriter, an art director, and an account man, okay, who are boarding a plane to present work to a client. And they open the overhead locker and somewhat implausibly a genie gets out and says, I've been trapped in that overhead locker for years.