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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:13,059 --> 00:00:14,730 It doesn't matter what I'm saying. 2 00:00:14,763 --> 00:00:16,534 It's just, "Oh, that's nice. He showed up." 3 00:00:17,101 --> 00:00:19,038 [music] 4 00:00:21,109 --> 00:00:24,448 The season finale of The Premise is a philosophical fable 5 00:00:24,750 --> 00:00:27,756 about the power of redemption versus the drive for revenge 6 00:00:28,189 --> 00:00:31,129 and whether it's possible for a human being to outrun his fate 7 00:00:31,362 --> 00:00:33,066 or rewrite his destiny. 8 00:00:34,068 --> 00:00:35,337 It's called "โ€œButt Plug". 9 00:00:36,139 --> 00:00:38,243 [music] 10 00:00:51,135 --> 00:00:53,674 [dramatic classical music] 11 00:02:28,564 --> 00:02:31,402 We could dip into the kids' college funds. 12 00:02:33,340 --> 00:02:34,543 That's their future. 13 00:02:35,210 --> 00:02:37,181 I know, but if we lose the house, 14 00:02:37,214 --> 00:02:40,153 we're going to have to move out of the school district, so... 15 00:02:40,387 --> 00:02:41,757 I really think you should just- 16 00:02:41,790 --> 00:02:43,460 No, no, no, no, no... 17 00:02:44,462 --> 00:02:45,732 What do you have to lose? 18 00:02:46,332 --> 00:02:48,504 You're working on a financial services company. 19 00:02:48,771 --> 00:02:51,476 He is the biggest international banking CEO-- 20 00:02:51,510 --> 00:02:52,311 No. 21 00:02:53,279 --> 00:02:53,848 No. 22 00:02:54,816 --> 00:02:56,720 I was terrible to him. 23 00:02:57,856 --> 00:03:00,528 It's a shame in my life how I treated that kid. 24 00:03:00,561 --> 00:03:02,699 It was 30 something years ago. 25 00:03:02,899 --> 00:03:04,669 I would think he would forgive you. 26 00:03:04,703 --> 00:03:05,872 He shouldn't forgive me. 27 00:03:06,907 --> 00:03:08,376 I wouldn't forgive me. 28 00:03:10,581 --> 00:03:12,217 What did you tease him for? 29 00:03:13,019 --> 00:03:13,821 [exhales] 30 00:03:14,723 --> 00:03:15,858 You know, for whatever. 31 00:03:17,327 --> 00:03:18,296 For being... 32 00:03:19,298 --> 00:03:19,933 different. 33 00:03:19,966 --> 00:03:21,202 for being poor. 34 00:03:21,235 --> 00:03:22,471 For being poor? 35 00:03:22,839 --> 00:03:26,880 Eli, he's one of the richest men in the world, 36 00:03:26,914 --> 00:03:28,450 of all the things in the world 37 00:03:28,483 --> 00:03:30,454 to have a sense of humor about. 38 00:03:30,487 --> 00:03:32,391 Look, that's what you should say to him. 39 00:03:32,424 --> 00:03:33,627 How sorry you are. 40 00:03:34,361 --> 00:03:35,865 How funny this is. 41 00:03:36,633 --> 00:03:38,537 That obviously, this is karma. 42 00:03:38,738 --> 00:03:41,777 That you ended up having to turn to him. 43 00:03:41,810 --> 00:03:43,681 He'd never take the meeting. 44 00:03:45,585 --> 00:03:46,920 Just reach out and see. 45 00:03:48,289 --> 00:03:49,458 Swallow your pride. 46 00:03:49,492 --> 00:03:50,661 It's not pride. 47 00:03:51,663 --> 00:03:52,766 It's shame. 48 00:03:54,268 --> 00:03:56,339 Nobody ever says swallow your shame. 49 00:03:58,276 --> 00:03:59,746 Yeah, no, I agree. 50 00:04:00,380 --> 00:04:01,517 It's a weird phrase. 51 00:04:02,017 --> 00:04:02,952 [phone intercom] 52 00:04:02,986 --> 00:04:05,525 Eli Spector, he says you grew up together. 53 00:04:09,733 --> 00:04:10,935 Eli Spector. 54 00:04:11,603 --> 00:04:13,273 After all these years. 55 00:04:14,743 --> 00:04:16,411 No, no. To the contrary. 56 00:04:18,048 --> 00:04:19,820 For you, I can make the time. 57 00:04:22,592 --> 00:04:24,830 [music] 58 00:04:44,503 --> 00:04:45,337 Hi. 59 00:04:45,671 --> 00:04:46,740 [laughs] 60 00:04:46,773 --> 00:04:48,343 Um, wow. 61 00:04:48,777 --> 00:04:50,280 Nice to uh-- 62 00:04:51,449 --> 00:04:52,619 It's been so long. 63 00:04:52,652 --> 00:04:53,687 So long. 64 00:04:54,556 --> 00:04:56,392 Obviously, so much has changed and... 65 00:04:57,127 --> 00:04:58,664 for you, especially. 66 00:04:59,533 --> 00:05:00,835 You still live in Victory? 67 00:05:01,435 --> 00:05:02,004 Yeah. 68 00:05:02,539 --> 00:05:03,306 Yeah. 69 00:05:04,408 --> 00:05:07,481 I remember you were living in this beautiful house 70 00:05:07,949 --> 00:05:09,485 right next to Crystal Lake, 71 00:05:11,355 --> 00:05:13,393 always in the newest, finest clothes. 72 00:05:13,426 --> 00:05:14,295 Yeah, the, the-- 73 00:05:14,996 --> 00:05:16,567 the place has changed, 74 00:05:16,967 --> 00:05:17,936 you know. 75 00:05:18,537 --> 00:05:19,739 Not what it used to be. 76 00:05:20,775 --> 00:05:22,912 Do you know the story of the ship of Theseus? 77 00:05:23,647 --> 00:05:24,481 [laughs] 78 00:05:24,516 --> 00:05:27,822 Never paid much attention in school. 79 00:05:27,856 --> 00:05:32,331 A ship at sea over time has its planks replaced one by one. 80 00:05:32,966 --> 00:05:34,870 At a certain point after many years, 81 00:05:35,605 --> 00:05:37,441 none of its planks are the same. 82 00:05:37,909 --> 00:05:39,946 Is it still in fact the same ship? 83 00:05:41,917 --> 00:05:42,852 [chuckles] 84 00:05:42,886 --> 00:05:43,721 [poof] 85 00:05:44,689 --> 00:05:45,958 I mean uh... 86 00:05:47,027 --> 00:05:48,564 I just uh... 87 00:05:49,098 --> 00:05:52,805 Your success, it just blows me away, 88 00:05:52,839 --> 00:05:56,045 and then you really earned everything on pure merit. 89 00:05:56,547 --> 00:05:58,751 What is merit, when you really think about it? 90 00:05:59,118 --> 00:06:01,690 Inner qualities, outer influences, 91 00:06:01,723 --> 00:06:03,661 Is any of that really merit? 92 00:06:04,763 --> 00:06:08,002 Or are we just sailing blindly along a scripted sea of fate 93 00:06:09,004 --> 00:06:11,475 on a winding path that would seem all too obvious 94 00:06:11,510 --> 00:06:12,979 to anyone looking back? 95 00:06:15,818 --> 00:06:17,354 Hey, man, I--- 96 00:06:17,822 --> 00:06:19,659 I just have to get this out of the way. 97 00:06:19,693 --> 00:06:20,695 I uh... 98 00:06:21,964 --> 00:06:23,433 I feel terrible, 99 00:06:25,571 --> 00:06:27,575 absolutely awful, um... 100 00:06:28,811 --> 00:06:30,514 about the way I was, 101 00:06:31,048 --> 00:06:32,017 and um... 102 00:06:33,787 --> 00:06:36,025 I just want a chance to raise my kids right. 103 00:06:36,793 --> 00:06:37,795 And um... 104 00:06:41,068 --> 00:06:41,803 [clears throat] 105 00:06:43,574 --> 00:06:44,943 We were children, Eli. 106 00:06:48,449 --> 00:06:49,653 We're different now. 107 00:06:51,657 --> 00:06:54,729 And without those obstacles, I wouldn't be who I am today. 108 00:06:55,564 --> 00:06:57,000 It motivated me, Eli. 109 00:06:57,034 --> 00:06:58,102 It still motivates me. 110 00:06:59,471 --> 00:07:01,877 And the more success I have, the more I realize that 111 00:07:01,910 --> 00:07:05,718 the only things that really matter are the elemental things, 112 00:07:05,751 --> 00:07:06,820 the personal things, 113 00:07:08,691 --> 00:07:10,060 like this lunch with you. 114 00:07:11,897 --> 00:07:12,799 So--- 115 00:07:16,472 --> 00:07:17,542 How can I help? 116 00:07:18,711 --> 00:07:19,713 [exhales] 117 00:07:19,746 --> 00:07:20,548 Okay. 118 00:07:21,148 --> 00:07:21,917 [clears throat] 119 00:07:24,789 --> 00:07:26,459 You've heard of the blockchain and 120 00:07:26,492 --> 00:07:27,862 I've heard of the blockchain, 121 00:07:27,895 --> 00:07:31,135 but 97% of insurance providers have never heard of- 122 00:07:31,168 --> 00:07:32,204 I'd say no-- 123 00:07:32,605 --> 00:07:33,674 Stop, I'm sorry. 124 00:07:33,707 --> 00:07:34,475 Um, 125 00:07:35,645 --> 00:07:36,780 You're still doing it. 126 00:07:37,214 --> 00:07:38,216 Blockchain... 127 00:07:39,385 --> 00:07:41,757 You're still following what the popular kids are doing. 128 00:07:41,790 --> 00:07:43,226 You're better than that, Eli. 129 00:07:44,061 --> 00:07:46,566 See, in business, I've learned to not follow 130 00:07:46,600 --> 00:07:48,570 what the popular kids are already doing because 131 00:07:48,604 --> 00:07:50,708 the opportunity is definitionally marginal. 132 00:07:50,941 --> 00:07:53,046 If you want a transformational opportunity, 133 00:07:53,246 --> 00:07:56,653 you need to find something that everyone else sees as worthless 134 00:07:57,187 --> 00:07:59,826 and elevate it to something priceless. 135 00:08:01,162 --> 00:08:02,532 Well, that um-- 136 00:08:03,634 --> 00:08:05,571 sounds very wise and uh, 137 00:08:06,305 --> 00:08:08,677 it's certainly worked for you, 138 00:08:08,711 --> 00:08:10,113 so thanks. 139 00:08:10,146 --> 00:08:12,250 Do you know what would be of interest to me? 140 00:08:15,190 --> 00:08:16,225 A butt plug. 141 00:08:18,731 --> 00:08:20,166 A butt plug? 142 00:08:22,605 --> 00:08:25,010 Just a butt plug? 143 00:08:25,043 --> 00:08:25,911 No, 144 00:08:26,112 --> 00:08:27,615 not just a butt plug. 145 00:08:28,584 --> 00:08:29,786 A great butt plug. 146 00:08:30,955 --> 00:08:33,659 A butt plug the likes of which the world has never seen. 147 00:08:34,260 --> 00:08:37,735 A but plug that once the world does see it, changes the world. 148 00:08:38,202 --> 00:08:40,073 If you were to bring me that product, 149 00:08:40,106 --> 00:08:42,912 yes, that would be of great interest to me. 150 00:08:46,085 --> 00:08:47,054 You see, 151 00:08:48,189 --> 00:08:50,260 the difference between your face and mine right now, 152 00:08:50,293 --> 00:08:53,032 the difference between our faces is the human definition 153 00:08:53,232 --> 00:08:54,836 of an arbitrage opportunity. 154 00:08:55,738 --> 00:08:56,873 That is profit. 155 00:08:57,642 --> 00:08:58,777 I don't quite- 156 00:08:58,811 --> 00:09:01,683 Of course it would have to be something extraordinary, 157 00:09:02,184 --> 00:09:05,090 something that would require your complete and total focus. 158 00:09:05,123 --> 00:09:07,260 You would have to quit your project and 159 00:09:07,294 --> 00:09:09,899 devote yourself full time to developing a product that 160 00:09:09,933 --> 00:09:11,937 would be worthy of my consideration, 161 00:09:13,206 --> 00:09:14,274 but if you did, 162 00:09:16,646 --> 00:09:18,684 I would schedule a meeting of the full board 163 00:09:18,717 --> 00:09:20,086 of my company a year from today, 164 00:09:20,120 --> 00:09:22,658 and you would have the full and undivided attention 165 00:09:22,692 --> 00:09:24,194 of me and my associates. 166 00:09:25,296 --> 00:09:26,867 Are you saying... 167 00:09:27,769 --> 00:09:29,238 you want me to quit my job-- 168 00:09:29,806 --> 00:09:30,641 and... 169 00:09:31,643 --> 00:09:34,314 spend the next year of my life developing a-- 170 00:09:35,049 --> 00:09:36,152 butt plug? 171 00:09:37,955 --> 00:09:39,993 Would there be a contract? 172 00:09:40,026 --> 00:09:42,130 No, no contract, 173 00:09:42,832 --> 00:09:45,336 no promise of any kind other than a meeting. 174 00:09:46,238 --> 00:09:49,813 No, you would be pursuing this on pure speculation 175 00:09:50,681 --> 00:09:52,184 based on the well-established history 176 00:09:52,217 --> 00:09:53,754 I have of proposing things 177 00:09:53,787 --> 00:09:55,156 that sound outlandish at first 178 00:09:55,190 --> 00:09:57,327 only to be met with unprecedented success. 179 00:09:57,360 --> 00:09:59,331 This could be the next one of those, 180 00:10:01,970 --> 00:10:04,576 or it could be the worst decision you ever make. 181 00:10:05,644 --> 00:10:07,047 Of course, at the end of the day, 182 00:10:07,080 --> 00:10:08,116 you don't bet on an idea, 183 00:10:08,149 --> 00:10:11,322 you bet on a person, so you need to place a bet. 184 00:10:13,259 --> 00:10:15,363 You need to look into my eyes and ask yourself 185 00:10:15,396 --> 00:10:17,334 whether for a person in my position, 186 00:10:17,969 --> 00:10:20,106 mercy is a stronger satisfaction 187 00:10:21,041 --> 00:10:22,210 than revenge. 188 00:10:25,718 --> 00:10:27,955 You can stay on the path you're currently on, 189 00:10:30,126 --> 00:10:30,995 or... 190 00:10:32,264 --> 00:10:35,303 drop what you're doing and come to my office a year from today 191 00:10:35,336 --> 00:10:37,775 with a butt plug that will change the world and 192 00:10:37,809 --> 00:10:39,044 your life along with it. 193 00:10:42,752 --> 00:10:44,354 Um, what ah-- 194 00:10:46,993 --> 00:10:48,697 is a butt plug? 195 00:10:50,300 --> 00:10:52,705 Sounds like you have a long journey ahead, 196 00:10:53,941 --> 00:10:56,278 and you've already taken the first step. 197 00:11:03,861 --> 00:11:05,430 Hm, butt plug. 198 00:11:05,463 --> 00:11:07,434 I had to look it up. 199 00:11:08,202 --> 00:11:09,004 Well... 200 00:11:09,839 --> 00:11:11,743 How hard is it to make a butt plug? 201 00:11:11,776 --> 00:11:13,312 The way he wants to do it? 202 00:11:13,346 --> 00:11:14,849 Take everything I've got. 203 00:11:16,018 --> 00:11:17,855 There's no half-ass in this, Susie, 204 00:11:18,456 --> 00:11:20,126 so to speak, I'd have to-- 205 00:11:20,861 --> 00:11:21,863 quit the startup. 206 00:11:21,897 --> 00:11:24,301 You'd have to take a second job. 207 00:11:28,009 --> 00:11:29,344 Is he fucking with you? 208 00:11:33,219 --> 00:11:34,454 What if he is? 209 00:11:38,429 --> 00:11:40,133 What if he's not? 210 00:11:41,135 --> 00:11:43,072 [phone rings] 211 00:11:44,107 --> 00:11:45,678 Eli... 212 00:11:46,045 --> 00:11:47,180 I'm glad to hear it. 213 00:11:47,848 --> 00:11:49,084 Yeah, we'll be in touch. 214 00:11:56,098 --> 00:11:58,302 [music] 215 00:12:10,260 --> 00:12:11,830 One of the keys to a butt plug is 216 00:12:11,863 --> 00:12:13,299 you don't want to go too small. 217 00:12:13,332 --> 00:12:15,069 - Ahh... - Small ones fall out. 218 00:12:15,103 --> 00:12:18,075 It needs to be wide enough for the sphincters to grip it and 219 00:12:18,109 --> 00:12:19,879 hold it in place. 220 00:12:20,547 --> 00:12:22,217 [background conversations] 221 00:12:23,152 --> 00:12:23,820 Got you. 222 00:12:24,822 --> 00:12:26,425 [background conversations] 223 00:12:34,441 --> 00:12:35,376 Fuck! 224 00:12:43,359 --> 00:12:47,233 [TV: Oh, God. Oh, God.] 225 00:12:48,402 --> 00:12:50,306 [moans] 226 00:12:54,481 --> 00:12:55,684 Uh, good, not great. 227 00:12:55,718 --> 00:12:58,824 I feel like you're losing sight of how the insertion goes. 228 00:12:59,124 --> 00:13:00,159 Right. Right. 229 00:13:00,193 --> 00:13:03,533 I definitely think material-wise, metal is perfect. 230 00:13:03,567 --> 00:13:05,804 It feels better in your butt, in my opinion. 231 00:13:11,382 --> 00:13:13,052 [music] 232 00:13:30,420 --> 00:13:32,892 [manufactuing sounds] 233 00:13:35,129 --> 00:13:37,902 [alarm goes off] 234 00:13:45,584 --> 00:13:47,153 [rhythmic music playing] 235 00:14:21,188 --> 00:14:22,090 My friend. 236 00:14:22,390 --> 00:14:24,161 Oh... [laughter] 237 00:14:24,194 --> 00:14:24,996 Oh, my God. 238 00:14:25,463 --> 00:14:26,265 Are you excited? 239 00:14:26,298 --> 00:14:27,167 Oh-- 240 00:14:27,200 --> 00:14:29,304 I'm fucking terrified. 241 00:14:29,337 --> 00:14:30,440 [laughs] 242 00:14:31,041 --> 00:14:33,145 Well, the whole board is here as promised. 243 00:14:33,547 --> 00:14:36,385 London, Dubai, Buenos Aires, 244 00:14:36,418 --> 00:14:38,289 they all flew in from around the world. 245 00:14:38,322 --> 00:14:39,257 - Really? - Mm-hmm 246 00:14:40,059 --> 00:14:41,495 Just for a butt plug. 247 00:14:41,529 --> 00:14:42,531 [chuckles] 248 00:14:44,267 --> 00:14:46,305 It's not just a butt plug, is it? 249 00:14:47,575 --> 00:14:49,377 I asked for something transcendent, 250 00:14:49,411 --> 00:14:51,181 something revolutionary, 251 00:14:51,215 --> 00:14:53,653 something worth an hour of my time and a year of yours. 252 00:14:53,687 --> 00:14:56,258 You're not telling me now that it's just a butt plug? 253 00:14:58,129 --> 00:15:00,534 Everything I have-- 254 00:15:01,168 --> 00:15:03,907 is riding on this butt plug. 255 00:15:06,178 --> 00:15:07,247 Okay. 256 00:15:07,280 --> 00:15:10,319 The people you're about to meet are my colleagues, 257 00:15:10,353 --> 00:15:11,656 and in many cases, they're my friends, 258 00:15:11,689 --> 00:15:13,426 but they are not my peers. 259 00:15:14,094 --> 00:15:15,998 My peers are the other chairmen 260 00:15:16,031 --> 00:15:17,535 of the world's largest companies. 261 00:15:17,568 --> 00:15:18,670 You see what I'm saying? 262 00:15:23,245 --> 00:15:25,216 We grew up shoulder to shoulder 263 00:15:25,684 --> 00:15:27,253 but we were not peers. 264 00:15:28,523 --> 00:15:30,026 You see what I'm saying? 265 00:15:31,462 --> 00:15:32,330 No. 266 00:15:34,301 --> 00:15:37,340 I don't want an object whose peers are other butt plugs. 267 00:15:38,409 --> 00:15:40,313 I want a butt plug whose peers are 268 00:15:40,346 --> 00:15:42,618 the other great objects in existence. 269 00:15:46,391 --> 00:15:46,993 Whenever you're ready. 270 00:15:55,443 --> 00:15:57,147 My friends, thank you all for coming. 271 00:15:58,048 --> 00:16:01,556 It's my great pleasure to introduce you to Eli Spector. 272 00:16:03,292 --> 00:16:05,363 We've known each other since childhood. 273 00:16:05,396 --> 00:16:08,135 And the time has changed us all so much. 274 00:16:08,169 --> 00:16:09,204 Uh, [laughs] 275 00:16:09,471 --> 00:16:11,141 None more than your chairman here. 276 00:16:11,175 --> 00:16:12,110 [laughs] 277 00:16:12,945 --> 00:16:14,014 Eli, it's a pleasure to introduce you 278 00:16:14,047 --> 00:16:15,249 to the board of directors. 279 00:16:15,283 --> 00:16:18,623 To your immediate left, with the confident smile, is Sandy. 280 00:16:19,224 --> 00:16:21,395 Sandy has led two Fortune 500 companies, 281 00:16:21,428 --> 00:16:24,367 but her sense of humor has remained very down to earth. 282 00:16:25,369 --> 00:16:27,207 To her left is Alice. 283 00:16:27,641 --> 00:16:31,114 Alice comes all the way to us from London and this is in fact 284 00:16:31,148 --> 00:16:33,653 her first time traveling since the loss of her husband. 285 00:16:34,120 --> 00:16:35,591 My condolences, Alice. 286 00:16:35,624 --> 00:16:37,761 The man with the generous light shining through 287 00:16:37,795 --> 00:16:39,030 his eyes is Charles. 288 00:16:39,064 --> 00:16:42,437 Charles and his partner Steven run our charitable foundation. 289 00:16:42,470 --> 00:16:44,040 Wonderful to meet you, Eli. 290 00:16:44,074 --> 00:16:46,078 Thank you for the work you do. 291 00:16:46,111 --> 00:16:48,415 And, of course, you'll recognize Gail Truesdale. 292 00:16:48,449 --> 00:16:49,484 Ambassador. 293 00:16:50,419 --> 00:16:52,257 Troy is the youngest member of our board, 294 00:16:52,658 --> 00:16:54,394 a former Fields Medal winner. 295 00:16:54,427 --> 00:16:56,398 That's a prize given out to-- 296 00:16:56,431 --> 00:16:59,070 The most gifted statistical analyst of his generation. 297 00:16:59,471 --> 00:17:04,381 I'm well aware, Troy, or if I may, Dr. Ozdemir. 298 00:17:05,383 --> 00:17:09,089 Last but not least is Marcus 'The Moneyman' Stevens 299 00:17:09,124 --> 00:17:09,992 [chuckles] 300 00:17:10,026 --> 00:17:12,531 representing our emerging investments arm. 301 00:17:12,565 --> 00:17:13,132 Excited and pumped. 302 00:17:13,165 --> 00:17:14,334 [chuckles] 303 00:17:14,367 --> 00:17:18,442 All of us, Marcus, all of us are very excited and pumped. 304 00:17:19,077 --> 00:17:19,779 [chuckles] 305 00:17:20,513 --> 00:17:21,248 Eli. 306 00:17:25,455 --> 00:17:26,458 [clears throat] 307 00:17:29,865 --> 00:17:31,603 I'm here to present a butt plug. 308 00:17:34,241 --> 00:17:35,376 Come on. Laugh. 309 00:17:36,846 --> 00:17:38,683 Butt plug. 310 00:17:39,117 --> 00:17:40,654 Come on, it's funny. 311 00:17:41,723 --> 00:17:43,292 And, those are funny words. 312 00:17:44,461 --> 00:17:46,599 It's funny that I'm here, a stranger, 313 00:17:46,633 --> 00:17:50,139 a total nobody standing in front of all of you saying, 314 00:17:50,172 --> 00:17:52,243 I'm here to present a butt plug, 315 00:17:53,145 --> 00:17:53,813 right? 316 00:17:55,851 --> 00:17:58,355 Come on, let's be honest, when we hear a butt plug, 317 00:17:58,389 --> 00:18:01,228 we assume it's a crude punch line to a cruder joke or a-- 318 00:18:01,495 --> 00:18:03,098 cheap accessory to a-- 319 00:18:04,669 --> 00:18:06,071 cheaper experience. 320 00:18:11,181 --> 00:18:12,083 That ends today. 321 00:18:12,584 --> 00:18:13,853 [swooshing sound] 322 00:18:16,693 --> 00:18:18,730 How do you find the most value? 323 00:18:20,366 --> 00:18:24,074 You search for that which is the most undervalued. 324 00:18:25,343 --> 00:18:28,215 One of the great financial thinkers of our time said that. 325 00:18:28,516 --> 00:18:31,856 In fact, that thinker happens to be in this room right now. 326 00:18:33,425 --> 00:18:37,300 But, I want to take you on my journey in finding value 327 00:18:37,635 --> 00:18:40,239 in the undervalued today. 328 00:18:41,743 --> 00:18:46,318 Now, the sex toy industry, is a $50 billion a year industry 329 00:18:46,351 --> 00:18:49,892 growing at nearly 25% a year for the last 5 years. 330 00:18:49,925 --> 00:18:52,263 Now, as Marcus will be the first to tell you, 331 00:18:52,463 --> 00:18:54,234 those numbers are enough to motivate 332 00:18:54,267 --> 00:18:55,804 just about any company in the world, 333 00:18:55,837 --> 00:18:57,841 but that's not this company's philosophy. 334 00:18:57,875 --> 00:19:01,816 Follow the magic and the math will follow. 335 00:19:03,586 --> 00:19:07,327 The world, since Daniel and I were children, has changed. 336 00:19:07,628 --> 00:19:10,299 And, the inspiring story of our time is 337 00:19:10,333 --> 00:19:12,604 the revolution we're living through 338 00:19:12,971 --> 00:19:15,911 and our approaches to intimacy and identity. 339 00:19:16,879 --> 00:19:17,915 Once marginalized, 340 00:19:17,948 --> 00:19:21,321 orientations and identities are rapidly fighting 341 00:19:21,355 --> 00:19:23,960 for representation and respect in a more 342 00:19:23,993 --> 00:19:26,666 inclusive society they're defining. 343 00:19:27,534 --> 00:19:30,674 With that sexual practices once trivialized and diminished, 344 00:19:31,274 --> 00:19:33,947 with even harmless-seeming mockery and jokes, 345 00:19:33,980 --> 00:19:37,554 move from the shadows into the sunlight of society. 346 00:19:38,222 --> 00:19:40,192 So, that leaves us with a great story, 347 00:19:40,226 --> 00:19:42,698 but with all due respect to the foundation Charles runs, 348 00:19:42,731 --> 00:19:44,602 you guys aren't a charity-- [chuckles] 349 00:19:44,635 --> 00:19:45,837 and a great past but-- 350 00:19:46,405 --> 00:19:48,342 you guys don't have a time machine. 351 00:19:50,379 --> 00:19:51,481 You don't, do you? 352 00:19:51,516 --> 00:19:52,551 [laughter] 353 00:19:53,553 --> 00:19:56,291 No, what you want to know about is the future. 354 00:19:57,026 --> 00:19:59,397 Now, when we've seen this growth parabola and 355 00:19:59,431 --> 00:20:01,703 comparable industries that develop in tandem with 356 00:20:01,736 --> 00:20:04,441 a cultural shift, there's a fascinating commonality. 357 00:20:04,975 --> 00:20:06,979 Whether it's computing or high-end coffee, 358 00:20:07,013 --> 00:20:09,618 a product at the center of a cultural shift reaches 359 00:20:09,652 --> 00:20:12,457 the exact point we're at today when an object, 360 00:20:12,490 --> 00:20:15,764 a singular object emerges that hits the nexus between 361 00:20:15,797 --> 00:20:19,572 elite status and mass appeal and powers the leap from 362 00:20:19,605 --> 00:20:23,312 cultural uniqueness to cultural ubiquity. 363 00:20:24,615 --> 00:20:28,222 With coffee in the 1990s, it was the Starbucks cup. 364 00:20:28,489 --> 00:20:31,495 With computing in the 2000s, it was the iPhone. 365 00:20:31,529 --> 00:20:36,672 This point of no return is when an industry coalesces around 366 00:20:36,706 --> 00:20:40,614 its DSO, its dominant singular object. 367 00:20:40,647 --> 00:20:42,918 Where are you getting this-- 368 00:20:43,485 --> 00:20:45,322 This theory of analysis? 369 00:20:46,291 --> 00:20:48,630 This is my original analysis. 370 00:20:49,063 --> 00:20:51,401 It's proprietary, but I'd be more than honored 371 00:20:51,435 --> 00:20:53,472 to share it with you if we work together and 372 00:20:53,506 --> 00:20:55,309 apply it to all sorts of phenomenon. 373 00:20:55,510 --> 00:20:56,512 But um... 374 00:20:57,380 --> 00:20:58,516 Back to the bottom line-- 375 00:20:58,917 --> 00:20:59,919 [laughter] 376 00:20:59,952 --> 00:21:00,854 if you will-- 377 00:21:01,756 --> 00:21:04,829 What will be that object in this industry? 378 00:21:05,864 --> 00:21:08,001 The Harvard Medical School Center for Study of 379 00:21:08,035 --> 00:21:10,272 Sexual Practices conducted studies on every 380 00:21:10,306 --> 00:21:12,410 sexual and gender identity. 381 00:21:12,744 --> 00:21:15,382 I obtained a researcher pass to visit them and 382 00:21:15,416 --> 00:21:16,485 see what they learned. 383 00:21:16,686 --> 00:21:18,790 Their conclusion was the obvious. 384 00:21:18,823 --> 00:21:22,430 There is one anatomical point with a far higher incidence 385 00:21:22,463 --> 00:21:26,071 of sexual responsiveness across all human beings than any other. 386 00:21:26,104 --> 00:21:27,941 Not more sensitivity, mind you, 387 00:21:27,975 --> 00:21:31,414 but more universally reported sensitivity by a mile. 388 00:21:31,448 --> 00:21:32,518 Why are the numbers so high? 389 00:21:34,053 --> 00:21:39,532 Because it's a body part virtually every human being has. 390 00:21:39,698 --> 00:21:41,001 [laughter] 391 00:21:41,903 --> 00:21:42,805 So, 392 00:21:43,773 --> 00:21:45,042 we've established the potentially dominant 393 00:21:45,075 --> 00:21:48,415 universality of this object in response to one cultural shift: 394 00:21:48,448 --> 00:21:50,520 sexual and gender identity. 395 00:21:50,554 --> 00:21:52,724 But, there's a second shift we're experiencing: 396 00:21:53,091 --> 00:21:55,362 the nature of intimacy. 397 00:21:55,396 --> 00:21:58,001 The two fastest-growing intimacy statuses with which people 398 00:21:58,035 --> 00:22:00,941 self-identify are, one, people who are solitary by preference, 399 00:22:00,974 --> 00:22:03,011 and two, people in a relationship in which 400 00:22:03,045 --> 00:22:05,015 another partner is not physically present. 401 00:22:05,049 --> 00:22:08,088 Now, the object I'm presenting today is not only an object 402 00:22:08,121 --> 00:22:10,861 with near-identical responses across all sexual and 403 00:22:10,894 --> 00:22:13,900 gender identities, it's also an object with near-identical 404 00:22:13,933 --> 00:22:16,973 responses across all intimacy identities. 405 00:22:17,440 --> 00:22:20,045 That means, in intimate partnerships as well as 406 00:22:20,079 --> 00:22:21,448 those without partners or 407 00:22:21,481 --> 00:22:23,385 without partners physically present. 408 00:22:23,418 --> 00:22:26,526 And Troy, you don't need a Fields Medal to know that when 409 00:22:26,559 --> 00:22:28,663 you overlay two growth curves, the curves don't double, 410 00:22:28,696 --> 00:22:29,097 they grow- 411 00:22:29,130 --> 00:22:30,366 Exponentially. 412 00:22:30,399 --> 00:22:33,940 But that's just the dominance of a $50 billion a year industry. 413 00:22:34,140 --> 00:22:35,610 Why quit there? 414 00:22:35,644 --> 00:22:36,779 Stop. 415 00:22:38,015 --> 00:22:38,816 Stop. 416 00:22:40,152 --> 00:22:41,556 I need a break. 417 00:22:44,193 --> 00:22:45,496 [background noise] 418 00:23:04,133 --> 00:23:05,035 This is him? 419 00:23:05,069 --> 00:23:06,037 He is a madman. 420 00:23:06,071 --> 00:23:08,408 - Oh, adorable. - Yeah. 421 00:23:10,947 --> 00:23:13,485 So, we've established the potential of this object 422 00:23:13,519 --> 00:23:15,991 to ride this cultural wave, 423 00:23:16,024 --> 00:23:16,959 Right? But-- 424 00:23:17,894 --> 00:23:20,032 How could it do something more important? 425 00:23:20,767 --> 00:23:23,973 How could it expand the wave all together? 426 00:23:24,474 --> 00:23:26,879 Let me start with an example you might find amusing. 427 00:23:26,913 --> 00:23:29,818 Vibrators are a $3 billion a year business. 428 00:23:30,954 --> 00:23:32,591 Not bad. Not bad. 429 00:23:32,824 --> 00:23:35,162 You know what's a $7 billion dollar a year business? 430 00:23:36,064 --> 00:23:38,001 Hand-held personal massagers. 431 00:23:38,035 --> 00:23:40,039 [laughter] 432 00:23:43,513 --> 00:23:45,449 [laughter continues] 433 00:23:47,219 --> 00:23:48,756 [laughter continues] 434 00:23:49,190 --> 00:23:50,125 I'll wait. 435 00:23:54,535 --> 00:23:58,442 The point being, many consumers need a cover story 436 00:23:58,843 --> 00:24:01,916 to purchase an object designed for sexual pleasure 437 00:24:01,949 --> 00:24:05,523 which alone accounts for enormous hidden numbers. 438 00:24:05,824 --> 00:24:10,065 But, what if their cover story wasn't just a cover story? 439 00:24:11,702 --> 00:24:13,506 What if this were an object that-- 440 00:24:14,207 --> 00:24:16,177 provided relief to nearly 40 million 441 00:24:16,211 --> 00:24:18,549 people a year who suffer from constipation? 442 00:24:19,083 --> 00:24:21,789 What if it had a built-in Wi-Fi-enabled camera 443 00:24:21,822 --> 00:24:23,860 that could automatically operate a colonoscopy 444 00:24:23,893 --> 00:24:26,766 saving as many as 10,000 lives a year? 445 00:24:28,101 --> 00:24:30,540 Do you think $599 is too much to charge 446 00:24:30,573 --> 00:24:32,209 for a previously marginalized object? 447 00:24:32,744 --> 00:24:33,846 I did. 448 00:24:33,880 --> 00:24:36,819 So, I took it upon myself to lead a dozen focus groups 449 00:24:37,019 --> 00:24:39,792 all of which came to the same conclusion. 450 00:24:39,825 --> 00:24:43,498 Even though $411 is the break-even point, 451 00:24:43,700 --> 00:24:48,208 the price point the consumer preferred wasn't $499, $599, 452 00:24:48,241 --> 00:24:49,812 or even $799. 453 00:24:49,845 --> 00:24:56,959 Customers want to pay $999 for this object. 454 00:24:57,728 --> 00:25:00,265 Because the extra cost was what helped 455 00:25:00,299 --> 00:25:04,040 counteract the stigma of a butt plug 456 00:25:05,042 --> 00:25:08,583 and turn it into a genuine "Veblen good." 457 00:25:09,785 --> 00:25:12,256 Like a Lamborghini or a bottle of fine cognac, 458 00:25:12,289 --> 00:25:14,595 this is the type of good where the customer 459 00:25:14,628 --> 00:25:17,567 actually wants to overpay. 460 00:25:18,736 --> 00:25:22,076 $1,000 bucks is a lot, but it's my health, you know. 461 00:25:23,345 --> 00:25:24,380 It's important. 462 00:25:24,414 --> 00:25:28,623 Accounting for this astronomical profit margin. 463 00:25:28,656 --> 00:25:29,825 incredible-- 464 00:25:31,027 --> 00:25:33,298 But what really makes something worth it to a consumer? 465 00:25:34,968 --> 00:25:36,672 If it's a great investment. 466 00:25:37,607 --> 00:25:38,676 I know what you're thinking. 467 00:25:38,710 --> 00:25:41,281 How could something like this be a great investment? 468 00:25:41,314 --> 00:25:42,951 Well, it would be if, say-- 469 00:25:44,755 --> 00:25:46,257 it were made with zinc. 470 00:25:47,928 --> 00:25:51,000 And if I had pre-negotiated zinc futures with the government 471 00:25:51,034 --> 00:25:54,006 of Bolivia to ensure that even a moderate order hits a threshold 472 00:25:54,040 --> 00:25:56,010 that will drive up the price of the metal 473 00:25:56,044 --> 00:25:57,881 so high that anyone who owns the object 474 00:25:57,914 --> 00:25:59,952 can rest assured it will appreciate in value 475 00:25:59,985 --> 00:26:02,624 whether or not they ever take it out of the box... 476 00:26:03,826 --> 00:26:04,728 which I didn't. 477 00:26:05,864 --> 00:26:08,603 Put another way, anyone who owns this butt plug can 478 00:26:08,636 --> 00:26:11,040 at any point in times of financial emergency, 479 00:26:11,374 --> 00:26:13,980 melt it down for parts in case times get tight, 480 00:26:14,313 --> 00:26:17,754 and make a substantial profit on their purchase. 481 00:26:20,125 --> 00:26:21,929 But I don't think they'll want to. 482 00:26:25,804 --> 00:26:27,941 How do you find the most value? 483 00:26:30,412 --> 00:26:34,955 You search for that which is the most undervalued. 484 00:26:36,291 --> 00:26:38,663 We all know what it's like to be undervalued, 485 00:26:39,397 --> 00:26:41,067 but I know both sides of it. 486 00:26:41,869 --> 00:26:43,739 I undervalued someone. 487 00:26:44,842 --> 00:26:47,647 I know I undervalued him not because he went on 488 00:26:47,681 --> 00:26:50,018 to become one of the richest men in the world, 489 00:26:50,753 --> 00:26:53,626 but because when he had no reason to-- 490 00:26:56,231 --> 00:26:57,767 he still gave me a project 491 00:26:59,237 --> 00:27:01,307 to change the last plank 492 00:27:02,109 --> 00:27:03,211 on a ship. 493 00:27:05,115 --> 00:27:07,787 Some say a man's character is his fate. 494 00:27:08,455 --> 00:27:10,960 Others say fate is the joke a man's life 495 00:27:10,994 --> 00:27:12,329 plays on his character. 496 00:27:12,864 --> 00:27:14,100 Where are you getting this? 497 00:27:14,133 --> 00:27:18,074 Revenge is the expression of our yearning to bend 498 00:27:18,108 --> 00:27:21,982 the chaotic world towards balance, justice, logic, 499 00:27:23,853 --> 00:27:25,088 but mercy-- 500 00:27:26,792 --> 00:27:28,328 mercy has no logic. 501 00:27:30,065 --> 00:27:31,669 It's the divine. 502 00:27:32,136 --> 00:27:35,108 It's the expression of a universe that makes no sense. 503 00:27:35,142 --> 00:27:38,248 A universe that has something when it should have nothing. 504 00:27:39,918 --> 00:27:41,889 It's the spark of the divine, 505 00:27:43,759 --> 00:27:46,397 of a new beginning out of nothing 506 00:27:48,368 --> 00:27:52,677 with the potential of the infinite. 507 00:28:02,496 --> 00:28:03,365 Anyway... 508 00:28:05,503 --> 00:28:07,841 that's what this butt plug means to me. 509 00:28:09,477 --> 00:28:11,982 I'm curious to hear what it means to you. 510 00:28:14,120 --> 00:28:15,422 You spent a year on this? 511 00:28:15,455 --> 00:28:16,324 Yes. 512 00:28:17,794 --> 00:28:18,930 It shows. 513 00:28:18,963 --> 00:28:19,865 Thank you. 514 00:28:20,967 --> 00:28:24,106 Look, Daniel, brought us in from all over the world. 515 00:28:24,440 --> 00:28:27,112 He clearly wanted us to be here for this, 516 00:28:28,114 --> 00:28:29,383 and I can see why. 517 00:28:30,219 --> 00:28:33,158 We're more of a financial services company, 518 00:28:33,458 --> 00:28:36,899 but, the principles that you applied to this 519 00:28:37,801 --> 00:28:40,873 couldn't be more in line with what we've been searching for. 520 00:28:41,809 --> 00:28:43,411 We haven't done products here. 521 00:28:43,879 --> 00:28:46,017 We've always had a family-friendly brand. 522 00:28:47,119 --> 00:28:48,789 But you have made a great case 523 00:28:48,823 --> 00:28:50,760 as to why that might not rule this out. 524 00:28:51,829 --> 00:28:53,431 I'm curious as to what Daniel thinks. 525 00:29:01,014 --> 00:29:03,218 You can look me in the eyes and tell me you put 526 00:29:03,251 --> 00:29:04,287 your entire heart 527 00:29:05,022 --> 00:29:05,924 and soul 528 00:29:07,092 --> 00:29:09,263 and vulnerability into this presentation? 529 00:29:09,297 --> 00:29:10,365 Answer carefully-- 530 00:29:12,369 --> 00:29:13,773 Answer honestly. 531 00:29:14,140 --> 00:29:15,042 Yes. 532 00:29:17,379 --> 00:29:19,083 The answer is yes. 533 00:29:46,270 --> 00:29:49,110 I'll tell you exactly what you can do with your butt plug. 534 00:29:53,218 --> 00:29:54,521 You can shove it-- 535 00:29:55,155 --> 00:29:56,892 up your ass. 536 00:29:58,361 --> 00:30:00,399 [laughter] 537 00:30:07,446 --> 00:30:10,252 [classical music playing] 538 00:30:40,078 --> 00:30:42,584 [laughter continues] 539 00:31:04,427 --> 00:31:06,030 Thank you. 540 00:31:25,503 --> 00:31:26,572 [exhales] 541 00:31:27,306 --> 00:31:28,308 How did it go? 542 00:31:31,114 --> 00:31:33,251 Now I'll be the greatest regret-- 543 00:31:34,253 --> 00:31:35,455 of his life. 544 00:31:49,016 --> 00:31:51,387 [classical music plays] 545 00:31:51,437 --> 00:31:55,987 Repair and Synchronization by Easy Subtitles Synchronizer 1.0.0.0 39012

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