So you don't want to bid more than what it's really worth to you.

Devaluing Life

The crude oil price is falling further.

Crude oil has been falling in price.

Next thing I learned from Steve Jobs is

Mass production reduced the price of many goods.

I'm going to make money that I otherwise wouldn't have made.

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

Now, finally,

I'll agree to the terms if you lower the price.

And frankly, if there was a bunch of lemonade stands, everyone is trying to sell their capacity.

It will be 100 in two years. It will go below 100.

I believe we should try more things that have a potential to be far less expensive.

It turns out we made this pretty easy.

So the first one I'd like to parce is the idea of market value.

So they print yuan and they buy dollars.

Trust me when I tell you that.

And that's why we will not launch this without five to 10 million units in the first run.

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.

(Laughter)

Some stores discount the price.

Why?

And then they would take a loss.

Price

Is Rome worth one good man's life?

So technically I guess prices can be rounded off to the nearest cent.

And this comes back to what we talked about in the last video.

Also, the price of energy is very important to them.

A man's worth lies in what he is.

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

Then auctions like eBay are another example of dynamic pricing.

Bennington says we'll have to double the price because we're being charged double for steel.

And this is very relevant to what's going on in the world today.

And that might sound like a very reasonable proposition, that the house will appreciate by 1.5 .

And maybe people would short Company A, and the price would move down.

So, let's say, I cut prices below Imran because I realize this increase price strategy was kind of silly.

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

When the Model T was launched and this is, by the way, all the figures that are adjusted to 2007 dollar prices

Obviously a 6 Price to Earnings of 20 times 2013 earnings isn't as good as a 6 Price to Earnings of 2010, because earnings in the future aren't worth as much as earnings today.

We haven't had a price increase in the last five years.

Thorium reactor that Nathan Myhrvold's involved in.

The first stage in a technology's advance is that it'll fall below a critical price.

We have considered your proposal, and we have decided that we are not able to reduce the price.

Having considered your proposal, we have decided that we are unable to lower the price.

We've considered your proposal, and we've decided that we aren't able to reduce the price.