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“Ian and Steve knew there were no hotels cater- ing to the taste and lifestyle of their clientele. It was obvious to them that the hotel business was stale with sameness; if they could infuse art and lifestyle into this segment of commerce, they would disrupt the industry.”

Quote by Alan Philips

Book:The Age of Ideas: Unlock Your Creative Potential
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The Age of Ideas: Unlock Your Creative Potential

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Alan Philips

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“While many say Schrager’s work is about design, it isn’t—it’s about ideas and experiences. Ian uses the power of his ideas to tap into what he calls the “collective unconsciousness, the ethereal, elusive, and hard-to-define magic and energy.” He understands the power of this intangible, emotional place and uses it to connect deeply with his customers. He knows that “the way a product makes you feel is more important than how it looks. The goal is to create experiences that people will remember, to touch them in emotional and visceral ways, to lift their spirits, to assault their senses, and to wow them in tasteful ways.” But just as important, Schrager under- stands that an amazing experience can’t be created from ideas alone, knowing that “good execution is just as important as a good idea.” And he has consistently manifested his creative potential because he has regularly married the four key elements that create value in our new age: purpose, creativity, execution, and emotion.”

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Book:The Age of Ideas: Unlock Your Creative Potential
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“Instead of leasing buildings in a traditional manner to multiple larger tenants, coworking companies lease entire structures and then sell these leases at a higher rate to members, a/k/a tenants. A change in use, not physical form. Combine that with the intangibles of inventive branding and experiential activation, and you’ve transformed one of the largest industries in the world—commercial real estate—sim- ply by changing the way people perceive it.”

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Book:The Age of Ideas: Unlock Your Creative Potential
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“By shifting the perception of a person, product, or place, you will significantly impact their value and how the market interacts with them. Per- ception is closer to reality than ever before, and your ability to positively shift perception directly correlates to how much value you can create in the Age of Ideas.”

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“Let’s discuss our Swoosh-less Nike sneaker for a moment. My guess is that if you removed the branding from a pair of Nike Dunk sneakers, they would be worth no more than twenty-five percent of their retail price. That means that at least seventy-five percent of the value of a Nike sneaker is tied up in the emotional elements you can’t see or touch, the intangibles. But just because you can’t see them or touch them doesn’t mean they aren’t real.”

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“Let’s discuss our Swoosh-less Nike sneaker for a moment. My guess is that if you removed the branding from a pair of Nike Dunk sneakers, they would be worth no more than twenty-five percent of their retail price. That means that at least seventy-five percent of the value of a Nike sneaker is tied up in the emotional elements you can’t see or touch, the intangibles. But just because you can’t see them or touch them doesn’t mean they aren’t real. For a parallel example, let’s look at Kanye West’s relationship with Adidas. Kanye has little or no athletic prowess—he’s a musi- cian, a tastemaker, a hype man. Whatever you may think of Kanye, he gets people talking and has been able to use his brand to create value for his partners. And that’s exactly what he did when he designed a line of sneakers for Adidas, the Yeezy Boost. In February 2015, a limited run of his shoes sold out within ten minutes at a retail price of two hundred dollars. The shoes were then released to a wider audience a month later and once again sold out in record time. This is where things start to get interesting. According to Complex magazine, in the following quarter the Yeezy Boost accounted for $2.3 million in sales on eBay, three times the gross sales of its closest competitor, for an average price of $751 per pair. Let’s generously assume it cost Adidas fifty dollars per pair to produce and market a pair of Yeezy Boost. If that’s the case, Kanye West’s creativity is worth $701 per pair, and that doesn’t include the halo value to the overall Adidas brand.”

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“At Supreme they do things their way, with little if any con- cern for how the rest of the fashion industry operates. Instead of releasing their new collections all at once, Supreme releases a small number of items at a time, usually somewhere between five and fifteen. The “drop,” as they call it, occurs online at 11 A.M. local time in America, the UK, and Japan, typically selling out in minutes. While many people believe this strategy is about building hype, the truth is that short runs of product were actually born out of not wanting to saddle their business with excess inventory. The strategy was discov- ered, not manufactured.”

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“the ability to reach customers is more cost effective than ever—therefore the intangible and emotional elements have become the key differentiating factor. There are plenty of places to purchase a great spicy tuna roll, but there’s only one Masayoshi Takayama. According to his website, “Masayoshi Takayama’s appreciation for food started at a young age, growing up working for his family’s fish market in a town of Tochigi Prefecture, Japan. From his early years of delivering fresh sashimi to neighbors on his bicycle, to prepping and grilling hun- dreds of fish courses to cater weddings in high school, his relation- ship with food has always been a way of life.” That’s the beginning of a story that makes Takayama’s sushi different and special—that makes it art. And that art is what induces people to pay $600 per person in his New York restaurant for a chance to try it.”

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