These were the Nikes and Apples and, later, the Tommy Hilfigers and Starbucks and so on. These pioneers had a different model: Create a transcendent idea or brand surrounding your company. Use it to connect with consumers who share its values. Then charge a steep premium for products that are less about the objects themselves than about the profound human desire to be part of a tribe, a circle of belonging. So when kids lined up all night to buy $250 Nike sneakers, they weren’t exactly buying the sneakers; they were buying the idea of “Just Do It” and the dream of Michael Jordan, who had
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