Matthew Giampetroni

If you can find the thing you do for its own sake, the compulsive piece of your process, and dial that up and up, beyond the imaginary ceiling for that activity you may be creating, my experience is the world comes to you for that thing and you massively outperform the others who don’t actually like hitting that particular ball.

Bernard himself continuously expresses that ‘creating desire’ is the most important part of what they are doing at LVMH

Pseudosecrets allow people to:

1. Feel like they know a secret about your company (Even better if you can make an investor think they figured this out themselves vs. being told).


2. Be able to combat doubters in a way that feels intellectually dominant and non-obvious.


3. Paint a narrative that makes the upside future that you believe in feel closer to a

Firms should invest in innovation while cutting losses when a strategy is unlikely to pay off. This is an explicit recognition of the value of quitting

“What is the right amount of capital (and the right number of people) to have in this business in order to support the strategy that will create the most wealth?”182 The answer is based on the future and does not rule out reducing net investment when appropriate.

The research shows that companies that are more proactive in their internal resource allocation generate a higher ROA than those that are more conservative.

There is also evidence that companies that are good at internal capital allocation are also effective at external allocation

People buying premium or even super-premium like to justify every dollar by a return on investment. Premium means pay more, get more in functional benefits. Luxury is elsewhere: it signals the capacity of the buyer to transcend needs, functions, or objective benefits.

markets—these sublime machines that synthesize beliefs and aggregate them into prices—instantiate a secularized version of the sacred