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The Pricing Power Lollapalooza

There are many sources of pricing power—brand names, network effects, cost advantages, unique technology. One of the most volatile is when a product has limited supply elasticity, is an essential input into a product with growing demand, and is a small proportion of the total price of that product.

– Byrne Hobart

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Dopey Ideas

Steve used to say to me, and he used to say this a lot. Hey Jony, here’s a dopey idea. And sometimes they were. Really dopey. Sometimes they were truly dreadful. But sometimes they took the air from the room. And they left us both completely silent. Bold, crazy, magnificent ideas. Or quiet, simple ones. Which in their subtlety, their detail, they were utterly profound.

– Jony Ive