Tim Minnshall

It's quite incredible that just the standardization of a metal box transformed everything about our modern economy.

It's quite incredible that just the standardization of a metal box transformed everything about our modern economy.

It's quite incredible that just the standardization of a metal box transformed everything about our modern economy.

Absolutely. To me, manufacturing is the whole process of making the thing, of moving it to where it's needed, and even the process of consumption. Because by us buying a thing and us having that thing serviced or supported or repaired is also part of this whole manufacturing journey, in my view. And so that great point you make there about a car.

Absolutely. To me, manufacturing is the whole process of making the thing, of moving it to where it's needed, and even the process of consumption. Because by us buying a thing and us having that thing serviced or supported or repaired is also part of this whole manufacturing journey, in my view. And so that great point you make there about a car.

Absolutely. To me, manufacturing is the whole process of making the thing, of moving it to where it's needed, and even the process of consumption. Because by us buying a thing and us having that thing serviced or supported or repaired is also part of this whole manufacturing journey, in my view. And so that great point you make there about a car.

So a typical petrol car, gasoline-powered car, has around 30,000 components. And those will be sourced from factories all around the world. And we're certainly seeing that at the moment. It's becoming much more visible, the consequences of having things made in lots of different countries.

So a typical petrol car, gasoline-powered car, has around 30,000 components. And those will be sourced from factories all around the world. And we're certainly seeing that at the moment. It's becoming much more visible, the consequences of having things made in lots of different countries.

So a typical petrol car, gasoline-powered car, has around 30,000 components. And those will be sourced from factories all around the world. And we're certainly seeing that at the moment. It's becoming much more visible, the consequences of having things made in lots of different countries.

And then all those parts that are made in these different factories, all coming together to one central place to be assembled, is absolutely extraordinary how well that works, how efficiently that all works if you can move things across borders reasonably smoothly. It's interesting as well that a car... With its 30,000 components, which strikes me as quite a lot.

And then all those parts that are made in these different factories, all coming together to one central place to be assembled, is absolutely extraordinary how well that works, how efficiently that all works if you can move things across borders reasonably smoothly. It's interesting as well that a car... With its 30,000 components, which strikes me as quite a lot.

And then all those parts that are made in these different factories, all coming together to one central place to be assembled, is absolutely extraordinary how well that works, how efficiently that all works if you can move things across borders reasonably smoothly. It's interesting as well that a car... With its 30,000 components, which strikes me as quite a lot.

But then if you look at things like an airliner, which is up into the millions of components and some of the older planes like a 747, I think has about 6 million components. Modern planes have slightly fewer than that, but it's still millions of individual components.

But then if you look at things like an airliner, which is up into the millions of components and some of the older planes like a 747, I think has about 6 million components. Modern planes have slightly fewer than that, but it's still millions of individual components.

But then if you look at things like an airliner, which is up into the millions of components and some of the older planes like a 747, I think has about 6 million components. Modern planes have slightly fewer than that, but it's still millions of individual components.

Every single one has to be perfectly manufactured, delivered at the right time, the right cost, at the right quality, to exactly where it's needed to be assembled into some subsystem, to be assembled into some bigger system, to be assembled into the final product, be it an iPhone or a car or a plane. It's just mind-boggling that it works at all.

Every single one has to be perfectly manufactured, delivered at the right time, the right cost, at the right quality, to exactly where it's needed to be assembled into some subsystem, to be assembled into some bigger system, to be assembled into the final product, be it an iPhone or a car or a plane. It's just mind-boggling that it works at all.

Every single one has to be perfectly manufactured, delivered at the right time, the right cost, at the right quality, to exactly where it's needed to be assembled into some subsystem, to be assembled into some bigger system, to be assembled into the final product, be it an iPhone or a car or a plane. It's just mind-boggling that it works at all.

Something as simple as sugar. And I love the story of making sugar because sugar processing plants are quite energy intensive. In one end, raw material straight from field or wherever it may be. Out the other end, nice, clean packets of white or brown sugar. In between those two points, so much energy, so much effort is put in to to process that.

Something as simple as sugar. And I love the story of making sugar because sugar processing plants are quite energy intensive. In one end, raw material straight from field or wherever it may be. Out the other end, nice, clean packets of white or brown sugar. In between those two points, so much energy, so much effort is put in to to process that.