But, actually, it's suddenly come to me after years working in the business, that what we create in advertising, which is intangible value you might call it perceived value, you might call it badge value, subjective value, intangible value of some kind gets rather a bad rap.

Actually, let's not say that they dissolve you.

Whatever we call it, Goldman Lynch or Lehman Sachs.

Now what's our mantra of this day and age I wonder?

This is designer. This is expensive.

I wonder if it's worth it.

But the present value, what does that mean?

Not so in Italy.

This actually had symbolic value, badge value.

How is she gonna be valuable?

Let me tell you about a truly magical algorithm called value iteration.

I think that you're going to have a hard time meeting with them, but I think it's certainly worth pursuing a couple big, really obvious brands.

He doesn't speak of brands and prices anymore

A book worth reading is worth reading twice.

We just made it explicit.

And my brother and I were raised with all that you really need

Worth zilch.

It's worth twice as much.

It is.

And this value, this is called a well in general, whenever you're valuing anything, it's called a valuation.

What's also interesting, if you look at products that have a high component of what you might call messaging value, a high component of intangible value, versus their intrinsic value

If a thing is worth doing it is worth doing badly.

Next thing I learned from Steve Jobs is

They are often quite egalitarian.

And I'll do a bunch of videos on margins in the future.

So in the last lecture, you remember the business model canvas, all the 9 components of a startup.

So this is real estate, or building.

This is 5 million.

But, are we comfortable with that?

The next element is the fact that

What values do you use to judge?

It's really not worth it.

Worth fighting for.

Worth dying for.

Worth killing for.

The money's worthless.

Uncle stefan, this girl you came back for.

It was worth a try.

Not worth a bullet.

It's invaluable, sir.

That would have been the market value per share.

A book not worth reading is not worth buying in the first place.

You can either live in a world which is poorer, which people in general don't like.

Whatever is worth doing at all, is worth doing well.

What if there's actually negative equity here?