Rory Sutherland
๐ค SpeakerAppearances Over Time
Podcast Appearances
There are all these nuances which I think are very, very easy to lose because costs are quantifiable and instantaneous. And opportunity costs, lost opportunities, lost revenue, that's slow and it's generally hard to actually quantify. A lovely story about this, which I wrote about actually in The Spectator, but people won't mind hearing it once more, I hope.
There are all these nuances which I think are very, very easy to lose because costs are quantifiable and instantaneous. And opportunity costs, lost opportunities, lost revenue, that's slow and it's generally hard to actually quantify. A lovely story about this, which I wrote about actually in The Spectator, but people won't mind hearing it once more, I hope.
There are all these nuances which I think are very, very easy to lose because costs are quantifiable and instantaneous. And opportunity costs, lost opportunities, lost revenue, that's slow and it's generally hard to actually quantify. A lovely story about this, which I wrote about actually in The Spectator, but people won't mind hearing it once more, I hope.
I'm driving along this dual carriageway on the Welsh borders and we wanted to buy some milk and the motorway service station appeared to be closed. All the lights were off. The kind of, you know, the petrol fuel logo was off. The fuel prices were off. It looked, you know, like, as I said, like the Bates Motel. It was completely kind of unlit. My wife said, oh, bugger, it's closed.
I'm driving along this dual carriageway on the Welsh borders and we wanted to buy some milk and the motorway service station appeared to be closed. All the lights were off. The kind of, you know, the petrol fuel logo was off. The fuel prices were off. It looked, you know, like, as I said, like the Bates Motel. It was completely kind of unlit. My wife said, oh, bugger, it's closed.
I'm driving along this dual carriageway on the Welsh borders and we wanted to buy some milk and the motorway service station appeared to be closed. All the lights were off. The kind of, you know, the petrol fuel logo was off. The fuel prices were off. It looked, you know, like, as I said, like the Bates Motel. It was completely kind of unlit. My wife said, oh, bugger, it's closed.
We needed to buy her bloody lacto-free milk because she's convinced she has lactose intolerance. But I said, no, hold on a second. I remember going there on Christmas Day. I'm sure that a place that opens on Christmas Day wouldn't close at 7 o'clock in the evening. Let's just go in anyway.
We needed to buy her bloody lacto-free milk because she's convinced she has lactose intolerance. But I said, no, hold on a second. I remember going there on Christmas Day. I'm sure that a place that opens on Christmas Day wouldn't close at 7 o'clock in the evening. Let's just go in anyway.
We needed to buy her bloody lacto-free milk because she's convinced she has lactose intolerance. But I said, no, hold on a second. I remember going there on Christmas Day. I'm sure that a place that opens on Christmas Day wouldn't close at 7 o'clock in the evening. Let's just go in anyway.
And sure enough, we find a fully functioning 24-hour store with, I think, you know, might have been a Starbucks or something as well or a Burger King. And we're the only customers. It's hardly surprising we're the only customers because for everybody else on the road, it looks like the place is closed. So I go up to the guy behind the tiller. I'm a marketing person.
And sure enough, we find a fully functioning 24-hour store with, I think, you know, might have been a Starbucks or something as well or a Burger King. And we're the only customers. It's hardly surprising we're the only customers because for everybody else on the road, it looks like the place is closed. So I go up to the guy behind the tiller. I'm a marketing person.
And sure enough, we find a fully functioning 24-hour store with, I think, you know, might have been a Starbucks or something as well or a Burger King. And we're the only customers. It's hardly surprising we're the only customers because for everybody else on the road, it looks like the place is closed. So I go up to the guy behind the tiller. I'm a marketing person.
You're pissing away revenue here. This is insane. Every 10 minutes, there are three cars driving past going, oh, shit, you're closed. So I go up to the guy behind the tiller. Why are the lights off on the road? He goes, oh, yeah, I think the guy on the last shift forgot to turn them on. There was no urgency. Now, it occurred to me when I left, the lights were still off when I left.
You're pissing away revenue here. This is insane. Every 10 minutes, there are three cars driving past going, oh, shit, you're closed. So I go up to the guy behind the tiller. Why are the lights off on the road? He goes, oh, yeah, I think the guy on the last shift forgot to turn them on. There was no urgency. Now, it occurred to me when I left, the lights were still off when I left.
You're pissing away revenue here. This is insane. Every 10 minutes, there are three cars driving past going, oh, shit, you're closed. So I go up to the guy behind the tiller. Why are the lights off on the road? He goes, oh, yeah, I think the guy on the last shift forgot to turn them on. There was no urgency. Now, it occurred to me when I left, the lights were still off when I left.
If that guy had nicked a lion bar at two o'clock in the morning and been picked up on CCTV, there would have been a kind of inquiry. He might have lost his job. There would be extreme disciplinary action. Cost of the Lion Bar is about, you know, one pound in lost revenue, okay? The cost of leaving the lights off is probably, certainly in revenue terms... ยฃ200 an hour, maybe more.
If that guy had nicked a lion bar at two o'clock in the morning and been picked up on CCTV, there would have been a kind of inquiry. He might have lost his job. There would be extreme disciplinary action. Cost of the Lion Bar is about, you know, one pound in lost revenue, okay? The cost of leaving the lights off is probably, certainly in revenue terms... ยฃ200 an hour, maybe more.
If that guy had nicked a lion bar at two o'clock in the morning and been picked up on CCTV, there would have been a kind of inquiry. He might have lost his job. There would be extreme disciplinary action. Cost of the Lion Bar is about, you know, one pound in lost revenue, okay? The cost of leaving the lights off is probably, certainly in revenue terms... ยฃ200 an hour, maybe more.
Maybe ยฃ1,000 that night.
Maybe ยฃ1,000 that night.