WEBVTT - Singer's Maz Fawaz and Rob Dickinson 0:00:02.520 --> 0:00:10.400 Bloomberg Audio Studios, Podcasts, radio News. I'm Hannah Elliott and 0:00:10.440 --> 0:00:11.119 I'm Matt Miller. 0:00:11.280 --> 0:00:13.200 This is Hot Pursuit. 0:00:17.560 --> 0:00:20.759 Coming up on today's podcast. Now, we admit we have 0:00:21.000 --> 0:00:24.200 held this week's podcast over the weekend because we want 0:00:24.239 --> 0:00:28.720 to give you the most up to date impressions and 0:00:28.800 --> 0:00:31.600 thoughts that we have from Pebble Beach. I'm still in Monterey, 0:00:32.680 --> 0:00:37.960 and Matt has graciously agreed to do this from paternity 0:00:38.080 --> 0:00:39.320 leave on a random Monday. 0:00:40.159 --> 0:00:41.640 I'm decamped to camp. 0:00:41.720 --> 0:00:45.199 Yes, yes, decamped at the lake, which. 0:00:45.040 --> 0:00:49.040 I'm up at Squam Lake in beautiful, rainy New Hampshire, 0:00:49.120 --> 0:00:51.680 and it is like the perfect place to be on 0:00:51.720 --> 0:00:53.479 the other side of the country from you. But how 0:00:53.960 --> 0:00:55.800 was Monterey? I mean, just in general, I know you're 0:00:55.800 --> 0:00:58.240 getting ready to drive the new Audi Supercar and so 0:00:58.280 --> 0:01:00.560 it's still going on for you, which I want to 0:01:00.560 --> 0:01:04.679 hear about. But in general, I guess the the big 0:01:06.000 --> 0:01:07.840 part of it's over, right, Yeah. 0:01:07.680 --> 0:01:10.840 The big part of it ended yesterday morning. Of course. 0:01:10.880 --> 0:01:13.720 That's with the Pebble Beach Concord Elegance, the big car 0:01:13.760 --> 0:01:16.800 show of two hundred plus cars parked out on the fairway. 0:01:16.880 --> 0:01:20.080 That was sort of the end of the official week. 0:01:20.200 --> 0:01:23.080 And I really and this is really true, there were 0:01:23.120 --> 0:01:26.800 a couple big themes I think that people were talking about. 0:01:27.720 --> 0:01:31.280 One of them was, of course the singer partnership with LVMH, 0:01:31.280 --> 0:01:34.360 which we'll get to in a minute with our guests interview. 0:01:34.520 --> 0:01:37.559 And the other really big thing that everyone was talking 0:01:37.600 --> 0:01:42.600 about was this forty million dollar Ferrari Luce sale, which 0:01:42.640 --> 0:01:45.280 was a charity sale. And we do know who bought 0:01:45.319 --> 0:01:45.920 the vehicle. 0:01:47.200 --> 0:01:47.400 Who. 0:01:48.760 --> 0:01:57.920 It's a billionaire basically optimologist inventor named Herbert Weretime, and 0:01:58.240 --> 0:02:03.040 he is in his eighties. It has been acknowledged that 0:02:03.120 --> 0:02:06.960 he purchased a vehicle. From what I hear speaking with 0:02:07.280 --> 0:02:09.560 some of my sources here in Monterey, he is new 0:02:09.680 --> 0:02:13.359 to buying Ferraris. This is only his second Ferrari he's 0:02:13.360 --> 0:02:17.480 ever purchased. And a big, a big reason for him 0:02:17.520 --> 0:02:20.400 to buy the car, of course, is the charity. Also 0:02:20.520 --> 0:02:24.760 it's a great, great place to put money for tax purposes. 0:02:24.840 --> 0:02:27.800 Of course, what is the charity? What was the charity? 0:02:28.360 --> 0:02:31.600 This charity is Ferrari's own charity. It's like a youth 0:02:31.720 --> 0:02:35.640 charity that is operated through Ferrari. So it's all a 0:02:35.639 --> 0:02:39.320 bit insular and Frankly, when I see the auction results 0:02:39.680 --> 0:02:43.000 from the weekend, the ones that include this Ferrari sale, 0:02:43.040 --> 0:02:46.560 I think we should kind of remove this charity Ferrari 0:02:46.720 --> 0:02:52.160 sale from any auction takeaways, just because it's kind of 0:02:52.160 --> 0:02:54.040 its own thing. But we should say, while I'm on 0:02:54.080 --> 0:02:58.359 the topic, the cumulative total, according to Haggerty, from all 0:02:58.440 --> 0:03:02.680 of the auctions was so forty eight million dollars for 0:03:02.760 --> 0:03:06.520 the week which is really really wild, and I think 0:03:06.600 --> 0:03:10.360 that speaks to this the bigger takeaway from this weekend, 0:03:10.480 --> 0:03:14.720 which is that things are really on a really rapid 0:03:15.520 --> 0:03:20.320 expansion explosion. The amount of supercars, the amount of money, 0:03:20.760 --> 0:03:24.920 the amount of even if they're not supercars, uh, seven 0:03:25.000 --> 0:03:29.880 figure collectibles unprecedented. We have not seen this level of 0:03:30.080 --> 0:03:33.760 just money infused everywhere. 0:03:35.080 --> 0:03:38.480 And I mean this is just like Wall Street bets 0:03:38.520 --> 0:03:42.440 and retail investors are lining the pockets. 0:03:42.480 --> 0:03:44.559 Of like tech bigwigs. 0:03:44.840 --> 0:03:47.640 If you worked at SpaceX, you just did the IPO, 0:03:47.920 --> 0:03:50.760 all of a sudden, you have a few dozen more 0:03:50.840 --> 0:03:53.280 million dollars than you had before, So why not go 0:03:53.360 --> 0:03:56.280 to Monterey and buy some supercars? I mean, this is 0:03:56.680 --> 0:03:59.760 stock market at all time highs. The top half of 0:03:59.760 --> 0:04:02.560 the CA has never had it better, and they are 0:04:02.600 --> 0:04:06.600 buying everything, I mean, paying forty million dollars for Ferrari Luci. 0:04:06.640 --> 0:04:09.360 I know you want to set that aside, but makes 0:04:09.440 --> 0:04:12.680 no sense at all. It would if you were going 0:04:12.760 --> 0:04:14.440 to give it, if you were saying, like this is 0:04:14.480 --> 0:04:18.120 going to Saint Jude's cancer research, right, yeah, but this 0:04:18.200 --> 0:04:20.000 is kind of a weird mill ground because it's going 0:04:20.040 --> 0:04:22.279 to Ferrari's own charity. 0:04:22.800 --> 0:04:26.560 Yes, yeah, I totally agree. And even if you know, 0:04:26.720 --> 0:04:29.520 like you said, even if we remove the Ferrari charity thing. 0:04:30.440 --> 0:04:33.320 I spoke with Mata Ramac, one of our favorite folks 0:04:33.360 --> 0:04:35.719 to speak with. We spoke with them last year from Monterey. 0:04:35.760 --> 0:04:37.960 I caught up with him again this year. He tells 0:04:38.000 --> 0:04:42.400 me Bugatti order books are full through twenty thirty. You know, 0:04:42.480 --> 0:04:45.880 he was just saying, it's unbelievable. People call him and say, 0:04:45.960 --> 0:04:47.719 I know your order books are closed, but can you 0:04:47.800 --> 0:04:50.800 just make this extra one car just for me? And 0:04:50.960 --> 0:04:55.400 it doesn't matter what you charge me. It seems it's 0:04:55.720 --> 0:04:58.920 reaching a bit of a fever pitch. I don't know 0:04:59.160 --> 0:05:05.120 when it's gonna nothing lasts forever, but yeah, it is 0:05:05.279 --> 0:05:07.760 very noticeable. The other thing that I noticed just driving 0:05:07.800 --> 0:05:10.560 around in Monterey is you know this I think is 0:05:10.600 --> 0:05:13.719 my seventeenth year coming. And when I first started coming, 0:05:14.040 --> 0:05:17.279 you'd see a lot of people just driving a special 0:05:17.360 --> 0:05:20.719 Mustang or a special old Camaro, or a special old 0:05:21.240 --> 0:05:24.320 you know, Triumph, or you know, some of just an 0:05:24.360 --> 0:05:28.720 old Lotus, just obscure. I don't know, one hundred thousand 0:05:28.839 --> 0:05:32.080 or less dollar cars that were obviously just the prize 0:05:32.080 --> 0:05:35.720 possession of hobbyists, and you really are not seeing that anymore. 0:05:35.760 --> 0:05:39.640 The cars on the road are serious supercars and serious 0:05:40.240 --> 0:05:44.839 you know, multiple million dollar vehicles. This like cute little 0:05:45.440 --> 0:05:50.760 sort of special classic car middle ground is not it's disappearing. 0:05:51.160 --> 0:05:52.360 It's not anymore. 0:05:52.680 --> 0:05:53.960 That's a little bit depressing. 0:05:54.120 --> 0:05:56.360 And I have to say that we'll get to the 0:05:56.400 --> 0:06:04.400 singer Louis Vaton collab. That's kind of feeding into the 0:06:04.560 --> 0:06:08.279 anger about this from your average car enthusiast. The fact 0:06:08.320 --> 0:06:11.920 that everything that used to be, you know, thirty thousand 0:06:12.000 --> 0:06:14.040 dollars is now three million dollars. 0:06:14.120 --> 0:06:15.880 It's just absolutely insane. 0:06:16.040 --> 0:06:19.159 By the way, just before you get off the mate 0:06:19.240 --> 0:06:25.280 Rimac note Bugatti had killed the W sixteen and now 0:06:25.279 --> 0:06:29.240 they're bringing back the W sixteen. Yeah, to make a 0:06:29.320 --> 0:06:32.120 one off for the same kind of person you were 0:06:32.160 --> 0:06:34.640 just mentioning, like I'll pay anything whatever it is. And 0:06:36.040 --> 0:06:40.360 we're seeing this across the industry. Carmakers that have canceled 0:06:40.400 --> 0:06:45.680 stuff are resurrecting them. Things like Porsche had canceled the 0:06:45.760 --> 0:06:49.839 seven eighteen, like the gas version, and now apparently they're saying, no. 0:06:49.880 --> 0:06:51.080 Wait, we're bringing it back. 0:06:51.560 --> 0:06:54.279 Plus the most I think that for me, the most 0:06:54.360 --> 0:06:58.799 exciting thing that I've seen is Porsche putting a stick 0:06:58.880 --> 0:07:02.440 shift in the Career E s and selling a special 0:07:02.440 --> 0:07:05.720 manual version that also comes with rear wheel steering and 0:07:05.960 --> 0:07:08.360 center lock wheels as fas. 0:07:08.720 --> 0:07:11.040 Yes, I have to say I did have like this 0:07:11.200 --> 0:07:15.280 weird feeling of like I'm kind of proud of automakers 0:07:15.400 --> 0:07:20.120 because I'm sensing that they're really trying. They are trying 0:07:20.760 --> 0:07:24.920 to make things that consumers want. Sometimes they hit the 0:07:24.960 --> 0:07:26.880 mark and sometimes they don't, and there are things that 0:07:26.920 --> 0:07:30.280 they can't control. And you know, obviously there are many 0:07:30.320 --> 0:07:35.480 factors involved in these decisions, but they are trying legitimately 0:07:35.880 --> 0:07:39.840 to make vehicles customers will buy. Obviously, they want to 0:07:39.880 --> 0:07:43.280 make money, you know. Talking with Stefan Winklman, another one 0:07:43.280 --> 0:07:46.720 of our favorites to talk to this. Lamborghini unveiled the 0:07:47.000 --> 0:07:50.840 Ravelto s V, which is their super viloch version of 0:07:50.880 --> 0:07:54.520 the Rovelto, which we love. Wow, you know it's a 0:07:54.640 --> 0:07:57.360 V twelve. It's this By the way, the Rovelto is 0:07:57.360 --> 0:08:02.200 their best selling V twelve ever, obvious, and and they're 0:08:02.280 --> 0:08:06.080 they're very unapologetic. And it's interesting because that company had 0:08:06.120 --> 0:08:09.240 always said, even back during the boom days of evs, 0:08:09.600 --> 0:08:12.440 our customers are telling our they don't want EV's and 0:08:12.440 --> 0:08:13.960 we're going to listen to that as much as we 0:08:14.040 --> 0:08:16.840 possibly can. And at the time, they looked a little 0:08:16.880 --> 0:08:21.280 behind the times, they looked a little maybe over conservative 0:08:21.320 --> 0:08:24.160 about adopting some of this new stuff, but they just 0:08:24.280 --> 0:08:27.720 kept saying, our customers don't want it, and as long 0:08:27.760 --> 0:08:29.760 as we're able, we're not going to put it in 0:08:29.800 --> 0:08:33.520 the cars. Obviously, things change the change wel to of 0:08:33.520 --> 0:08:34.959 course as a hybrid, but. 0:08:36.400 --> 0:08:39.800 To your point, but not to save money on gas. 0:08:40.040 --> 0:08:42.440 Correct, No, no, no, certainly not. 0:08:44.360 --> 0:08:47.040 But by the way, you know what, I heard a 0:08:47.080 --> 0:08:52.600 really cool interview with Tim Kiniskus from Dodge and he 0:08:52.720 --> 0:08:56.040 was talking about the new like Copperhead supercar that they've made, 0:08:56.120 --> 0:08:59.439 and somebody asked him why it isn't a hybrid, Why 0:08:59.520 --> 0:09:02.000 why is it just a gas gonna be a gas 0:09:02.040 --> 0:09:05.040 powered motor. I don't think, I don't think the powertrain 0:09:05.080 --> 0:09:07.840 has been made official yet. But his point was, you 0:09:07.880 --> 0:09:11.800 know what, putting batteries, putting electric motors in these cars 0:09:11.880 --> 0:09:13.840 in thirty years, it's going to be like we put 0:09:13.840 --> 0:09:17.240 the eight track in, which I think is an interesting 0:09:17.280 --> 0:09:19.720 thing to think about because I'm a huge we both 0:09:19.760 --> 0:09:23.920 are big fans of automakers using hybrid platforms to make 0:09:23.920 --> 0:09:29.600 cars more fun to drive, faster, higher performance. But it 0:09:29.640 --> 0:09:32.320 could be that in that there's something new comes out 0:09:32.360 --> 0:09:36.200 and eventually it's just so defunct that you're not able 0:09:36.240 --> 0:09:38.920 to get your battery or your electric motor service in 0:09:38.960 --> 0:09:40.480 thirty or forty years, you know. 0:09:40.640 --> 0:09:41.480 Totally total. 0:09:41.520 --> 0:09:42.640 That's very believable. 0:09:42.800 --> 0:09:48.400 Yeah, so fat ish, Yeah, I love that that Porsche 0:09:48.480 --> 0:09:51.319 put the stick back in the carera ass. By the way, 0:09:51.320 --> 0:09:53.920 in the last couple of months you've had Ferrari putting 0:09:54.840 --> 0:09:59.960 a manual transmission of sorts in a car, pors manual transmission. 0:10:00.640 --> 0:10:03.800 And John Hennessy did he did you see his Blackbird there? 0:10:03.840 --> 0:10:06.400 He has a new supercar called the Blackbird which is 0:10:06.840 --> 0:10:09.439 naturally aspirated rear wheel drive. 0:10:09.520 --> 0:10:13.720 Stick shift, thanks you, John Hennessy. And no screens. Apparently 0:10:13.760 --> 0:10:15.680 there's going to be no screens in that. 0:10:15.640 --> 0:10:20.760 Thing completely, which is great. Also, let's not forget McLaren 0:10:21.120 --> 0:10:24.400 announced they're going to bring back this crue sort of 0:10:24.400 --> 0:10:31.440 a manual of sorts again type new supercar. McLaren is 0:10:31.480 --> 0:10:36.400 bringing back, or actually debuting their first manual transmission since 0:10:36.960 --> 0:10:41.640 the F one of the early nineties. So to your point, Matt, 0:10:42.520 --> 0:10:44.240 automakers are listening. 0:10:44.679 --> 0:10:49.000 Yeah, I love it. I love it. Well, except for now. 0:10:49.040 --> 0:10:51.200 I think it's a great time to transition to the 0:10:51.679 --> 0:10:55.959 to thea that Singer and Louis Vatant have gotten Singer 0:10:56.080 --> 0:11:00.160 especially right. I mean, so we recorded this interview with 0:11:00.240 --> 0:11:05.640 the founder, really the founder and his partner at Singer, 0:11:07.280 --> 0:11:11.080 Robin Maz last week, and they were telling us all 0:11:11.120 --> 0:11:15.000 about this Louis Vuitton partnership, and I initially had a 0:11:15.000 --> 0:11:19.439 thought like that's kind of cheesy, but then they totally 0:11:19.480 --> 0:11:21.640 sold me because of all the engineering and all the 0:11:21.679 --> 0:11:24.640 incredible detailed work that went into it, and I was 0:11:24.840 --> 0:11:30.040 just totally fascinated by the fact that they would, you know, 0:11:30.240 --> 0:11:36.080 individually machine the Locke Pokers or that they you know, 0:11:36.440 --> 0:11:39.440 had the rubber gaskets and seals all made in a 0:11:39.480 --> 0:11:42.040 special Louis Vuitton blue and had to go back three times. 0:11:42.240 --> 0:11:44.400 So that kind of drew me away from the fact 0:11:44.440 --> 0:11:49.040 that hang on a second Louis Vauton. That's like the 0:11:49.080 --> 0:11:52.599 Paris Hilton of brands. This is like something for Kim Kardashian, 0:11:52.640 --> 0:11:54.600 and they should be making cars for Steve McLean. 0:11:55.760 --> 0:12:02.160 Yeah. You know, My interesting servation about that is I 0:12:02.280 --> 0:12:08.439 have actually never covered Singer for pursuits at Bloomberg really, 0:12:08.960 --> 0:12:13.160 and the reason for that is to editors, my editors 0:12:13.160 --> 0:12:15.680 who are not car people, half of them don't have 0:12:15.800 --> 0:12:20.600 driver's license, they don't really understand that a singer is 0:12:20.640 --> 0:12:23.200 not a portie and also a singer is not just 0:12:23.280 --> 0:12:26.440 a resto mod and I think that's that's fine. That 0:12:26.520 --> 0:12:31.720 actually indicates for most readers, for most people, even car people, 0:12:33.760 --> 0:12:36.319 it's difficult to describe what singer is doing. But the 0:12:36.360 --> 0:12:41.520 minute you put Singer and LVMH together, while people understand 0:12:41.559 --> 0:12:44.200 Louis Vaton, of course they know that, and so that 0:12:44.360 --> 0:12:47.520 is really what had that partnership is what has made 0:12:47.640 --> 0:12:51.480 Singer compelling for us now to look at and we 0:12:51.559 --> 0:12:55.400 did do some TV with Singer last week as well 0:12:55.520 --> 0:12:58.600 here from Mona Rey and I do think the partnership, 0:12:58.640 --> 0:13:03.120 although you're right it's a bit of an unusual, unexpected 0:13:03.120 --> 0:13:08.480 pairing for reaching a larger audience, and they certainly did that, 0:13:08.559 --> 0:13:10.600 and we can talk about that. They certainly reached a 0:13:10.679 --> 0:13:16.960 new and larger and non car audience. LVMH makes sense. LVMH, 0:13:17.040 --> 0:13:19.960 of course, is moving into the car world in multiple ways. 0:13:20.280 --> 0:13:20.800 I don't know. 0:13:20.880 --> 0:13:26.640 I mean, I have always loved Singer and I've had 0:13:27.280 --> 0:13:31.880 Rob on TV in the past, you know, because to me, 0:13:32.520 --> 0:13:36.520 what Singer does is exactly what I would want to 0:13:36.520 --> 0:13:40.520 do if I had basically an unlimited budget. And my 0:13:40.679 --> 0:13:44.920 favorite Portia nine to eleven of all the generations would 0:13:44.920 --> 0:13:47.040 probably be the nine to six four because it's the 0:13:47.160 --> 0:13:49.880 last of the what do you call it, the G body, 0:13:50.320 --> 0:13:56.360 you know, look, and they make everything modern and fun 0:13:56.440 --> 0:13:59.240 to drive. They don't care about the performance figures. I 0:13:59.240 --> 0:14:03.080 don't care either about now I would I don't even 0:14:03.120 --> 0:14:05.000 want that. I want to drive a fun car. And 0:14:05.040 --> 0:14:09.880 they make they're so beautiful, They're so intricately produced. There's 0:14:09.960 --> 0:14:12.800 so there's such incredible works of art that to me, 0:14:13.720 --> 0:14:17.480 a Singer has always been like the ultimate car. If 0:14:17.480 --> 0:14:19.720 I could choose any car in the world, it would 0:14:19.760 --> 0:14:21.040 be the Singer, no problem. 0:14:21.080 --> 0:14:23.360 Wow, Oh I'm shocked. I'm shocked. 0:14:23.440 --> 0:14:28.160 Sure, because everything is exactly I mean, you can make 0:14:28.200 --> 0:14:29.320 it work with rob. 0:14:29.120 --> 0:14:32.240 And can choose the Singer over a Roof. 0:14:32.680 --> 0:14:37.480 I sure would, absolutely, because I think they're far better 0:14:37.520 --> 0:14:40.480 pieces of art and I don't really care about the 0:14:40.600 --> 0:14:43.040 performance as much. I want it to be amazingly fun 0:14:43.080 --> 0:14:44.760 to drive, and both of them, I'm sure to make 0:14:44.800 --> 0:14:46.840 cars that would be amazingly fun for me to drive. 0:14:47.120 --> 0:14:49.600 You know, I'm very surprised. 0:14:50.040 --> 0:14:53.640 No, I to me, Singer is like the ultimate piece 0:14:53.680 --> 0:14:57.920 of driveable art you could ever ever purchase. And but 0:14:59.080 --> 0:15:03.440 louis the Tom and Gucci and these you know, big 0:15:03.600 --> 0:15:06.840 mall brands. I realize that they do other stuff, but 0:15:06.880 --> 0:15:09.960 they're basically the kind of stores that make me unhappy 0:15:09.960 --> 0:15:13.200 about shopping around the world because they're there every place 0:15:13.280 --> 0:15:16.720 I go, you know. And it's also not the kind 0:15:16.720 --> 0:15:20.440 of I don't want to be associated with those logos 0:15:20.520 --> 0:15:25.760 and the total consumerism like unabashed, you know, all about 0:15:25.800 --> 0:15:28.240 the label. It's not really about the quality when you 0:15:28.280 --> 0:15:31.440 buy a Louis Vuitton bag. Right, It's not some incredible leather. 0:15:31.520 --> 0:15:33.960 It's not some horse hide that's tanned in Japan at 0:15:33.960 --> 0:15:38.880 the Shanky, you know, Tannery. It's some kind of plastic 0:15:38.960 --> 0:15:41.440 that they've made up, and the only reason it costs. 0:15:41.240 --> 0:15:43.120 More is because they put their logo over it. 0:15:43.360 --> 0:15:45.720 That's not what I want from a car. It's not 0:15:45.760 --> 0:15:48.960 what I want from a Singer, So I can understand 0:15:48.960 --> 0:15:51.400 the backlash, and of course it adds to the fact 0:15:51.440 --> 0:15:55.480 that before Singer, you could buy a nine sixty four 0:15:55.560 --> 0:15:59.240 for thirty or forty thousand dollars in excellent shape. 0:16:00.160 --> 0:16:01.760 Now it's double or triple that. 0:16:02.320 --> 0:16:07.040 Well, singers are selling for more than actual at auction, 0:16:07.160 --> 0:16:09.040 which is a testament to everything you've said. 0:16:09.080 --> 0:16:10.880 So of course, yeah, well I would rather have a 0:16:10.920 --> 0:16:13.760 Singer than any actual Porsche as well, because I love 0:16:14.200 --> 0:16:16.120 what they do to it. They make a big, naturally 0:16:16.160 --> 0:16:18.800 aspirated lump, they put a stick shift in there, and 0:16:18.840 --> 0:16:23.080 they make it, you know, for me, as much fun 0:16:23.120 --> 0:16:25.720 to drive as any GT three that Pronier makes himself. 0:16:25.880 --> 0:16:29.760 So you know, well, I will say, you know, of course, 0:16:29.800 --> 0:16:32.640 through the weekend I have executives asking me what I 0:16:32.680 --> 0:16:35.560 think about it. I'm asking them. Everyone's talking about it, 0:16:35.600 --> 0:16:39.560 including a couple extremely wealthy and well known investors I'm 0:16:39.600 --> 0:16:45.240 not going to name, but the online reaction is one thing. 0:16:45.560 --> 0:16:48.120 But I do think it's interesting that when you talk 0:16:48.280 --> 0:16:51.440 to people who are in positions of power here on 0:16:51.480 --> 0:16:55.080 the ground in Monterey, many of them were of the 0:16:55.160 --> 0:16:59.080 mind that all press is good press, and that the 0:16:59.160 --> 0:17:05.240 bad reaction to how these cars look is not enough 0:17:05.280 --> 0:17:10.640 to offset the value added proposition of working with this 0:17:10.760 --> 0:17:14.720 company LVMH, more specifically LVMH than just Louis Vaton. 0:17:15.040 --> 0:17:17.320 I see, I see it the other way around. 0:17:17.920 --> 0:17:21.919 I think the cars look fantastic. I think they're I 0:17:21.960 --> 0:17:27.080 think the engineering and design is amazing. I mean they're 0:17:27.200 --> 0:17:31.320 just there's nothing else that's made to that standard, to 0:17:31.400 --> 0:17:31.960 that level. 0:17:32.080 --> 0:17:34.520 It's absolute perfection. To me. 0:17:34.680 --> 0:17:37.840 The the problem is the collaboration with this you know, 0:17:38.040 --> 0:17:45.600 multinational uh, you know, luxury handbag maker. It just doesn't 0:17:45.680 --> 0:17:49.960 make any sense at all. And I hate myself for 0:17:50.080 --> 0:17:52.960 not having said that to Robin maz Well. 0:17:53.520 --> 0:17:56.800 That was an early conversation we had, and I think 0:17:56.800 --> 0:17:59.800 it's great that we they're they're happy to talk about it, 0:17:59.800 --> 0:18:02.479 they're happy to talk about how the partnership came together. 0:18:03.280 --> 0:18:06.159 You know, this is this is one thing. They're going 0:18:06.240 --> 0:18:08.760 to move on to something else. I know they've already 0:18:08.760 --> 0:18:13.639 got things in the pipeline, so you know, to me, 0:18:13.760 --> 0:18:17.040 it's kind of like, oh, right, this this The cars 0:18:17.560 --> 0:18:20.760 weren't a hit, but you can move on well. 0:18:20.760 --> 0:18:22.800 I also I was also thinking, as soon as the 0:18:22.960 --> 0:18:26.600 bad backlash came out on the internet, whoever buys these 0:18:26.640 --> 0:18:31.800 cars and banks some is a smarty because in twenty 0:18:31.880 --> 0:18:34.600 years or thirty years, maybe they'll have the bad rep. 0:18:34.880 --> 0:18:38.679 But there's still there's still such amazing works of art, 0:18:38.760 --> 0:18:44.159 and I mean they're just incredibly well designed and made, 0:18:44.720 --> 0:18:48.640 and having that black eye of the internet backlash can 0:18:48.680 --> 0:18:50.000 only add value to them. 0:18:50.040 --> 0:18:52.200 I think, Yeah, it's different for me. 0:18:52.119 --> 0:18:56.440 Than the Luce which is which which I think could actually. 0:18:56.240 --> 0:18:58.560 Hurt Ferrari's brand if it hasn't already. 0:18:58.880 --> 0:19:02.080 I mean, the Lucha taking away the forty million dollars 0:19:02.119 --> 0:19:06.560 sale was a horrible decision at every level. 0:19:07.240 --> 0:19:11.679 I think there are many people and maybe myself included, 0:19:11.800 --> 0:19:14.400 who think the opposite, that think it was actually kind 0:19:14.400 --> 0:19:19.800 of a masterstroke on Ferrari to do that. To clearly 0:19:19.880 --> 0:19:24.520 they arranged for this. We don't know the conversations that 0:19:24.600 --> 0:19:28.040 happened behind the scenes, but it does set a certain benchmark. 0:19:28.400 --> 0:19:32.040 It does prove that someone's willing to spend sixty times 0:19:32.080 --> 0:19:37.000 the cost of the vehicle. It generates a ton of buzz. 0:19:37.480 --> 0:19:43.000 It dominated conversations this weekend on concourse Sunday. It's sort 0:19:43.040 --> 0:19:48.040 of to me it's Ferrari leaning into this. As we 0:19:48.119 --> 0:19:50.040 know they don't have to sell many Luchs at all. 0:19:50.040 --> 0:19:52.280 They've said they've already sold out. They weren't making that 0:19:52.359 --> 0:19:57.000 many of them anyway, And anecdotally, I've heard multiple Ferrari 0:19:57.040 --> 0:20:01.359 owners say, yeah, I'll buy one, it's not a big deal. 0:20:02.119 --> 0:20:05.200 This goes back to our conversation about wealth Matt because 0:20:06.200 --> 0:20:10.160 their under attitude is I'm going to get strong armed 0:20:10.160 --> 0:20:12.919 into buying one, and that's fine, but it's you know, 0:20:12.960 --> 0:20:16.080 they're willing to take the that to take that hit 0:20:16.119 --> 0:20:18.639 in order to stay in Ferrari's good graces. 0:20:18.840 --> 0:20:21.000 I just think it's bad for Ferrari's image. I mean, 0:20:21.040 --> 0:20:27.919 they were the masters of handbuilt, you know, mechanical vehicles, 0:20:28.000 --> 0:20:31.080 and now they're selling Now they're selling computers on wheels 0:20:31.600 --> 0:20:35.240 designed by Apple, which is the ultimate consumer brand, which 0:20:35.280 --> 0:20:39.320 is the ultimate sort of Oi POLLOI vox popular consumer brand, 0:20:39.640 --> 0:20:39.800 you know. 0:20:39.840 --> 0:20:41.920 I mean, we have to really look at the lou 0:20:42.000 --> 0:20:43.280 Jas separate. 0:20:42.920 --> 0:20:45.200 From the rest of the Apple car. They said, let's 0:20:45.240 --> 0:20:46.200 make an Apple car. 0:20:46.440 --> 0:20:50.399 Why if anybody who was at the Ferrari the Kassa 0:20:50.600 --> 0:20:56.040 Ferrari Cossa this weekend, there were dozens of new old 0:20:56.080 --> 0:20:59.720 classic Ferraris on the lawn. I mean, Ferrari was the 0:20:59.800 --> 0:21:03.560 do dominant presence, I would say here in Monterey in 0:21:03.640 --> 0:21:06.160 terms of cars on the road, cars on the lawn, 0:21:06.440 --> 0:21:10.159 cars on the auction block. Even still, yes, the lucha 0:21:10.280 --> 0:21:13.760 is polarizing. It's to me, it's sort of like this, 0:21:14.240 --> 0:21:16.800 It's like the planet Pluto way out in the universe 0:21:16.800 --> 0:21:20.879 of Ferrari. It's not anywhere near what's happening in the 0:21:20.880 --> 0:21:23.920 main orbiting of everything in the Ferrari universe. 0:21:24.400 --> 0:21:24.840 I don't know. 0:21:25.000 --> 0:21:28.600 I mean, polarizing usually means there's split opinion, And I 0:21:28.640 --> 0:21:31.960 think everybody has a negative opinion of the lads, except 0:21:31.960 --> 0:21:36.439 for this eighty year old guy who maybe forty dollars 0:21:36.480 --> 0:21:39.800 to a charity. I don't think that that really represents 0:21:40.240 --> 0:21:41.040 Herbie's new. 0:21:41.359 --> 0:21:43.480 He's new, He's just getting into it. He's got the 0:21:43.720 --> 0:21:44.800 enthusiasm of. 0:21:45.359 --> 0:21:47.600 Herbie was like, let me buy a luch so that 0:21:47.840 --> 0:21:50.479 in five years they let me buy when I turned ninety, 0:21:50.520 --> 0:21:52.040 they'll let me buy, you know. 0:21:52.040 --> 0:21:53.000 The real supercar. 0:21:53.440 --> 0:21:57.920 Sure, the real supercar is also going to have it's 0:21:57.920 --> 0:22:03.160 got already a synthetic gear shift, and it'll have any 0:22:03.160 --> 0:22:06.720 synthetic throttle and a synthetic handbrake, and eventually it's going 0:22:06.800 --> 0:22:11.240 to have like augmented reality wheels and you won't even 0:22:11.280 --> 0:22:13.600 need a road to drive it. I mean, that's not 0:22:13.720 --> 0:22:15.680 what it's supposed. 0:22:15.359 --> 0:22:15.760 To be about. 0:22:15.760 --> 0:22:17.720 Maybe that's maybe that's the future of cars, and it 0:22:17.720 --> 0:22:19.159 seems like it's the future of Ferrari. 0:22:19.720 --> 0:22:22.720 I disagree. I don't think Ferrari. I don't think that's 0:22:22.720 --> 0:22:25.240 the future of Ferrari. I think if anyone brand, I'll 0:22:25.240 --> 0:22:27.640 take the posing view, if anyone brand is actually big 0:22:27.720 --> 0:22:32.399 enough to withstand a massive hit against against the brand, 0:22:32.440 --> 0:22:34.719 and the Lucha did was a big blow. I mean, 0:22:34.760 --> 0:22:37.680 look at their stock prices that have jump bounced back 0:22:37.720 --> 0:22:41.720 to quite a bit. It's Ferrari. I think they can 0:22:41.720 --> 0:22:44.199 withstand this blow and keep keep moving forward. 0:22:44.320 --> 0:22:48.040 All right, Well, uh, let's agree to disagree on that 0:22:48.400 --> 0:22:51.440 as well as the singer. By the way, I would 0:22:51.520 --> 0:22:53.880 choose a Singer over a Ferrari, even if we're talking 0:22:53.880 --> 0:22:57.960 about what if we're talking about class Yes, yeah, no, 0:22:58.240 --> 0:23:00.600 worn't for the price tag. I'd rather have a singer 0:23:00.600 --> 0:23:03.800 classic then at two fifty you know, Gto. 0:23:04.200 --> 0:23:06.200 I'm happy to let you have the singer and I'll 0:23:06.240 --> 0:23:06.560 have all. 0:23:07.480 --> 0:23:10.120 Yeah. Of course I make a lot of bad decisions 0:23:10.119 --> 0:23:10.520 in life. 0:23:11.000 --> 0:23:14.239 Let's talk with Mas Flaws and Rob Dickinson. They are 0:23:14.280 --> 0:23:18.640 the key executive leaders and creative forces behind Singer, which 0:23:18.680 --> 0:23:23.960 is the renowned Portia nine to eleven reimagined company making 0:23:24.119 --> 0:23:25.639 cars out here in California. 0:23:26.640 --> 0:23:28.119 Rob, you want to kick it off and tell us 0:23:28.160 --> 0:23:28.760 what you've got. 0:23:29.680 --> 0:23:33.480