They have to be better, they have to be more efficient, they have to be affordable.

Well the worst thing I can have happen is that the share of IBM goes to 0.

And two, it has be more affordable than today's cars.

(Laughter)

Then auctions like eBay are another example of dynamic pricing.

The price of this used car is reasonable.

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Price

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And it's really true.

And then sort of through a process of wandering around, I got to the thought that actually if you could convert an entire country to electric cars, in a way that is convenient and affordable, you could get to a solution.

It's not about low cost.

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

It has been made possible, by the way, for certain other different reasons.

And so the first of these that I will focus on the first is the price of competing products.

Our price is considerably higher than the current market price.

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For any given price, it's going to lower the quantity demanded.

Let's say a guy invents a better light bulb.

The price of admission.

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Wenneck, Price, Garner.

They have needs which have to be met efficiently in terms of energy, in terms of cost, in terms of quality.

So really the stock has no value.

Next thing I learned from Steve Jobs is

And then kind of the third common errors, my price hast to be less than my competitor's price.

I could actually price on specific customer segments or on features I know they need.

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Well, I won't define the vehicle for you, but I will define the cost for you.

Or a great loss.

If they're buying a camera, they want to know if it has good zoom or affordability, or size and weight.

How could you have prices that kind of move?

You would be correct that Company B was cheaper.

One of the things that has happened with technology is that it can only be helpful if it is useful, of course, but it can only be helpful too if it's accessible, and it can only be helpful if it's affordable.

Alright?