I heart you. Classic fixed / variable cost fallacy: if you look at the steel and plastic in a $200k Ferrari, it’s worth about $10k. They have 95% gross margins

I heart you. Classic fixed / variable cost fallacy: if you look at the steel and plastic in a $200k Ferrari, it’s worth about $10k. They have 95% gross margins! Outrageous! (Nevermind the engine R&D cost, the pre-production molds that fail, the testing and marketing and product placement and…)