Listen To This Episode:
AppleSpotifyGoogleLibsynOvercast
In this Twitter Spaces conversation, Tomer Strolight compares Coca-Cola to the U.S. dollar as the world’s formerly most powerful brand and likens Apple’s rise to Bitcoin as the thing that will overtake dollar hegemony.
The beginning of the episode starts with Strolight sharing the story of Coca-Cola and how their product became so powerful once they removed cocaine from the recipe but kept the price. Through the change, Coca-Cola built brand equity and became the king of brands.
Once Apple came along, software became bigger than products with its ephemeral, intangible value. Strolight says, “Apple overtook Coca-Cola in value, not because they were selling electronic components, which are commoditized, but because they had amazing software, where it did things that no other company’s software was able to do and this is what we pay for.” People pay for the incredible experience that software creates.
By viewing the dollar as a brand, it is Coca-Cola in this analogy. The U.S. dollar doesn’t have software. Bitcoin is software.
Strolight talks about all the reasons Bitcoin is a solid brand. It doesn’t have a marketing division nor a budget. The name rolls off the tongue and it’s obvious that it’s digital money because “bits” are digital and “coins” are money. It’s easy to spell and it works in any language.
Toward the end of the episode, Strolight envisions the world on a Bitcoin standard. “I see a very beautiful world. I see a world where everyone gives the best of what they can be in exchange with others for the best of what they can be. And not just that, it’s a world where you can figure out what it is that you are and who you are.”
Bitcoin as a brand, with software at the core, is on track to take over the legacy system.