Ferrari's marriage of luxury brand exclusivity with sports team inclusivity creates a unique competitive advantage—hundreds of millions of fans who will never buy a Ferrari are still invested in the brand's success.

(03:37:14) most popular F1 team in the world by a large margin >> and hasn't really won much since Michael Schumacher. >> Yeah. and sells the most expensive cars that the vast vast vast majority of their fans will never be able to buy. >> Absolutely exclusionary. >> I bet a lot of fans of the Mercedes racing team, one way or another, can find a way to buy a Mercedes. Almost

(03:37:36) none of the fans of Ferrari can find a way to buy a Ferrari. >> All right, you just pulled forward my quintessence, so I'm just going to do it now. >> Great. >> Ferrari is both inclusive and exclusive. It has the exclusivity of a luxury brand but the inclusivity of a sports team. >> Yeah, that's it. >> I mean, it's this amazing marriage that this is going to sound so self- serving,

(03:37:58) but I was just sitting there nodding reading their financials because this is exactly acquired strategy. We are unbelievably exclusive about the companies that we are willing to do these editorial deep dives on. We're unbelievably exclusive about our sponsors and yet we're as inclusive as possible for the community. >> It should be the best deal on the internet. We want to make tickets cheap whenever we have big live events. You

(03:38:22) and I have always talked about it as Costco in the front and Hermes in the back. But really, we're just Ferrari figured this out first. Yes. It's so smart. >> All right. Well, we're going to have to change how we talk about acquired. >> If you can marry a luxury brand with a sports team, it is a business cheat code. >> Yes. Yes. I love it. Oh, that's such a