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

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.

Not so in Italy.

But the present value, what does that mean?

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

A book worth reading is worth reading twice.

We just made it explicit.

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

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

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

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

Next thing I learned from Steve Jobs is

They are often quite egalitarian.

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.

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.

That would have been the market value per share.

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

What if there's actually negative equity here?

Because of my internal pain from my childhood.

Uniqueness on the vertical axis, value on a horizontal axis.

We cannot rate the picture highly enough.

But the market value or assets is essentially, what is the market saying the assets are worth?

It doesn't have value all by itself.

It's not worth crying over.

It's not even worth a thought.

It's not even worth mentioning.

I think that's 10 shares. Well that's my intention.

let me instead teach you about value.

Brian D? More like Brian Z. The last letter in the alphabet. Oooh!

JA I'm not sure about the incident.

I wouldn't give you two cents!

Here, you are all equally worthless.

It's worth the stretch.

The big residual is always value for money.

I don't care what the actual share price is.

In this case, you're saying that the equity in this company is worth 189,000.