14. Do More Expensive Wines Taste Better?

That’s the worry. Even the humble eyeglass industry is dominated by a single firm. 

We look into the global spike in myopia, how the Lemtosh got its name, and what your eye doctor knows that you don’t. (Part two of a two-part series.)

• SOURCES:
  • Maria Liu, professor of clinical optometry at the University of California, Berkeley.
  • Harvey Moscot, C.E.O. of MOSCOT Eyewear and Eyecare.
  • Zachary Moscot, chief design officer of MOSCOT Eyewear and Eyecare.
  • Cédric Rossi, equity research analyst at Bryan Garnier.
  • Tim Wu, professor of law, science and technology at Columbia Law School.

• RESOURCES:
  • "Meta in Talks to Buy Stake in Eyewear Giant EssilorLuxottica," by Salvador Rodriguez and Lauren Thomas (The Wall Street Journal, 2024).
  • "The Story Behind Soaring Myopia Among Kids," by Manoush Zomorodi, Katie Monteleone, Sanaz Meshkinpour, and Rachel Faulkner White (Body Electric, 2024).
  • "Why So Many People Need Glasses Now," by Christophe Haubursin (Vox, 2023).
  • "Eyes on World Sight: Taking Action to Advance Eye Health in China," by EssilorLuxottica (2022).
  • "Global Prevalence of Myopia and High Myopia and Temporal Trends from 2000 through 2050," by Brien A. Holden, Timothy R. Fricke, Serge Resnikoff, et al. (Ophthalmology, 2016).
  • "Increased Prevalence of Myopia in the United States Between 1971-1972 and 1999-2004," by Susan Vitale, Robert D. Sperduto, and Frederick L. Ferris (Archives of Ophthalmology, 2009).

• EXTRAS:
  • "The Economics of Eyeglasses," series by Freakonomics Radio (2024).

A single company, EssilorLuxottica, owns so much of the eyewear industry that it’s hard to escape their gravitational pull — or their “obscene” markups. Should regulators do something? Can Warby Parker steal market share? And how did Ray-Bans become a luxury brand? (Part one of a two-part series.)

• SOURCES:
  • Neil Blumenthal, co-founder and co-CEO of Warby Parker.
  • Dave Gilboa, co-founder and co-CEO of Warby Parker.
  • Jessica Glasscock, fashion historian and lecturer at the Parsons School of Design.
  • Neil Handley, curator of the British Optical Association Museum at the College of Optometrists.
  • Ryan McDevitt, professor of economics at Duke University.
  • Cédric Rossi, equity research analyst at Bryan Garnier.
  • Tim Wu, professor of law, science and technology at Columbia Law School.

• RESOURCES:
  • "Leonardo Del Vecchio Dies at 87; Transformed Eyeglass Industry," by Jonathan Kandell (The New York Times, 2022).
  • Making a Spectacle: A Fashionable History of Glasses, by Jessica Glasscock (2021).
  • "Dave Gilboa and Neil Blumenthal: ‍A Vision for Business," by Lucy Handley (CNBC, 2020).
  • "The Roots of Big Tech Run Disturbingly Deep," by Tim Wu and Stuart A. Thompson (The New York Times, 2019).
  • "The Spectacular Power of Big Lens," by Sam Knight (The Guardian, 2018).
  • The Curse of Bigness: Antitrust in the New Gilded Age, by Tim Wu (2018).
  • "Statement of the Federal Trade Commission Concerning the Proposed Acquisition of Luxottica Group S.p.A. by Essilor International (Compagnie Generale d’Optique) S.A.," FTC File No. 171-0060 (2018).
  • Cult Eyewear: The World's Enduring Classics, by Neil Handley (2011).
  • A Far-Sighted Man, by Luca Goldoni (1991).

• EXTRAS:
  • "Direct-to-Consumer Mattresses," by The Economics of Everyday Things (2024).
  • "Are Two C.E.O.s Better Than One?" by Freakonomics Radio (2023).
  • “Are We in a Mattress-Store Bubble?” by Freakonomics Radio (2016).

You wouldn’t think you could win a Nobel Prize for showing that humans tend to make irrational decisions. But that’s what Richard Thaler has done. In an interview from 2018, the founder of behavioral economics describes his unlikely route to success; his reputation for being lazy; and his efforts to fix the world — one nudge at a time.

• SOURCES:
  • Richard Thaler, professor of behavioral science and economics at the University of Chicago.

• RESOURCES:
  • “Behavioral Economics,” by Richard Thaler (The Past, Present, and Future of Economics: A Celebration of the 125-Year Anniversary of the JPE and of Chicago Economics, December 2017).
  • Misbehaving: The Making of Behavioral Economics, by Richard Thaler (2015).
  • Nudge: Improving Decisions About Health, Wealth, and Happiness, by Richard Thaler and Cass Sunstein (2008).

• EXTRAS:
  • "Farewell to a Generational Talent," by Freakonomics Radio (2024).
  • "Why Is Richard Thaler Such a ****ing Optimist?" by People I (Mostly) Admire (2021).
  • "All You Need Is Nudge," by Freakonomics Radio (2021).
  • "How to Launch a Behavior-Change Revolution," by Freakonomics Radio (2017).
  • “How To Win A Nobel Prize," by Freakonomics Radio (2015).
  • The Big Short, film by Adam McKay (2015).

Daniel Kahneman left his mark on academia (and the real world) in countless ways. A group of his friends and colleagues recently gathered in Chicago to reflect on this legacy — and we were there, with microphones.

• SOURCES:
  • Maya Bar-Hillel, professor emeritus of psychology at the Hebrew University of Jerusalem.
  • Shane Frederick, professor of marketing at the Yale School of Management.
  • Thomas Gilovich, professor of psychology at Cornell University.
  • Matt Killingsworth, senior fellow at the Wharton School of the University of Pennsylvania.
  • Barbara Mellers, professor of psychology at the University of Pennsylvania.
  • Eldar Shafir, director of the Kahneman-Treisman Center for Behavioral Science & Public Policy at Princeton University.
  • Richard Thaler, professor of behavioral science and economics at the University of Chicago.

• RESOURCES:
  • "Experienced Well-Being Rises With Income, Even Above $75,000 Per Year," by Matthew A. Killingsworth (PNAS, 2021).
  • "The False Allure of Fast Lures," by Yigal Attali and Maya Bar-Hillel (Judgment and Decision Making, 2020).
  • "Learning Psychology From Riddles: The Case of Stumpers," by Maya Bar-Hillel and Tom Noah (Judgment and Decision Making, 2018).
  • Thinking, Fast and Slow, by Daniel Kahneman (2011).
  • "High Income Improves Evaluation of Life but Not Emotional Well-Being," by Daniel Kahneman and Angus Deaton (PNAS, 2010).
  • "Varieties of Regret: A Debate and Partial Resolution," by Thomas Gilovich, Victoria Husted Medvec, and Daniel Kahneman (Psychological Review, 1998).
  • "Some Counterfactual Determinants of Satisfaction and Regret," by Thomas Gilovich and Victoria Husted Medvec (What Might Have Been: The Social Psychology of Counterfactual Thinking, 1995).

• EXTRAS:
  • "Remembering Daniel Kahneman," by People I (Mostly) Admire (2024).
  • "Academic Fraud," series by Freakonomics Radio (2021).
  • "Here’s Why All Your Projects Are Always Late — and What to Do About It," by Freakonomics Radio (2018).
  • "The Men Who Started a Thinking Revolution," by Freakonomics Radio (2017).

American politics is trapped in a duopoly, with two all-powerful parties colluding to stifle competition. We revisit a 2018 episode to explain how the political industry works, and talk to a reformer (and former presidential candidate) who is pushing for change.

• SOURCES:
  • Katherine Gehl, former president and C.E.O. of Gehl Foods.
  • Michael Porter, professor at Harvard Business School.
  • Andrew Yang, co-chair of the Forward Party and former U.S. presidential candidate.

• RESOURCES:
  • "Why U.S. Politics Is Broken — and How to Fix It," by Andrew Yang (TED, 2024).
  • The Politics Industry: How Political Innovation Can Break Partisan Gridlock and Save Our Democracy, by Michael Porter and Katherine Gehl (2020).
  • “Why Competition in the Politics Industry is Failing America,” Katherine Gehl and Michael Porter (Harvard Business School, 2017).
  • “Stronger Parties, Stronger Democracy: Rethinking Reform,” by Ian Vandewalker and  Daniel I. Weiner (Brennan Center for Justice, 2015).
  • On Competition, by Michael Porter (2008).
  • Competitive Strategy: Techniques for Analyzing Industries and Competitors, by Michael Porter (1980).

• EXTRAS:
  • "Andrew Yang Is Not Giving Up on Politics — or the U.S. — Yet," by People I (Mostly) Admire (2021).
  • "The Future of New York City Is in Question. Could Andrew Yang Be the Answer?" by Freakonomics Radio (2021).
  • "Why Is This Man Running for President? (Update)," by Freakonomics Radio (2019).
  • “Ten Ideas to Make Politics Less Rotten,” Freakonomics Radio (2016).

It’s hard to know whether the benefits of hiring a celebrity are worth the risk. We dig into one gruesome story of an endorsement gone wrong, and find a surprising result.

• SOURCES:
  • John Cawley, professor of economics at Cornell University.
  • Elizabeth (Zab) Johnson, executive director and senior fellow with the Wharton Neuroscience Initiative at the University of Pennsylvania.
  • Alvin Roth, professor of economics at Stanford University.

• RESOURCES:
  • "Kanye and Adidas: Money, Misconduct and the Price of Appeasement," by Megan Twohey (The New York Times, 2023).
  • "The Role of Repugnance in Markets: How the Jared Fogle Scandal Affected Patronage of Subway," by John Cawley, Julia Eddelbuettel, Scott Cunningham, Matthew D. Eisenberg, Alan D. Mathios, and Rosemary J. Avery (NBER Working Paper, 2023).
  • "How Celebrity Status and Gaze Direction in Ads Drive Visual Attention to Shape Consumer Decisions," by Simone D'Ambrogio, Noah Werksman, Michael L. Platt, and Elizabeth Johnson (Psychology & Marketing, 2022).
  • "Consumer Responses to Firms’ Voluntary Disclosure of Information: Evidence from Calorie Labeling by Starbucks," by Rosemary Avery, John Cawley, Julia Eddelbuettel, Matthew D. Eisenberg, Charlie Mann, and Alan D. Mathios (NBER Working Paper, 2021).
  • "Consumer Heterogeneity and Paid Search Effectiveness: A Large Scale Field Experiment," by Thomas Blake, Chris Nosko, and Steven Tadelis (NBER Working Paper, 2014).
  • "The Economics of Obesity," by John Cawley (The Reporter, 2013).
  • "Repugnance as a Constraint on Markets," by Alvin Roth (Journal of Economic Perspectives, 2007).

• EXTRAS:
  • "Does Advertising Actually Work? (Part 2: Digital)," by Freakonomics Radio (2020).
  • "Does Advertising Actually Work? (Part 1: TV)," by Freakonomics Radio (2020).

Broadway operates on a winner-take-most business model. A runaway hit like Stereophonic — which just won five Tony Awards — will create a few big winners. But even the stars of the show will have to go elsewhere to make real money. (Part two of a two-part series.)

• SOURCES:
  • David Adjmi, author and playwright.
  • Sonia Friedman, theater producer and founder of Sonia Friedman Productions.
  • John Johnson, theater producer and co-founder of Wagner Johnson Productions.
  • Tom Pecinka, actor.
  • Sarah Pidgeon, actor.

• RESOURCES:
  • "Tony Award Winners 2024: The Full List," by Rachel Sherman (The New York Times, 2024).
  • "Everything to Know About the Stranger Things: The First Shadow Play in London," by Tara Bitran (Tudum, 2024).
  • Stereophonic, by David Adjmi, Will Butler, and Daniel Aukin (2023).

• EXTRAS:
  • "How to Make the Coolest Show on Broadway," by Freakonomics Radio (2024).

The Berlin dance mecca Berghain is known for its eight-hour line and inscrutable door policy. PJ Vogt, host of the podcast Search Engine, joins us to crack the code. It has to do with Cold War rivalries, German tax law, and one very talented bouncer.

• SOURCES:
  • Lutz Leichsenring, executive board member of Clubcommission Berlin and co-founder of VibeLab.
  • PJ Vogt, reporter, writer, and host of the podcast Search Engine.

• RESOURCES:
  • "Berghain: 36 Hours Inside the World's Most Exclusive Nightclub," by Linux (Paper Magazine, 2022).
  • Berlin Bouncer, documentary by David Dietl (2019).
  • "High Culture Club: Berghain Secures Same Tax Status as Berlin Concert Venues," by Philip Oltermann (The Guardian, 2016).
  • "One Eye on the Door, the Other on His Photography," by Nicholas Kulish (The New York Times, 2011).
  • Lost and Sound: Berlin, Techno and the Easyjet Set, by Tobias Rapp (2009).

• EXTRA:
  • Search Engine, podcast by PJ Vogt.

Hit by Covid, runaway costs, and a zillion streams of competition, serious theater is in serious trouble. A new hit play called Stereophonic — the most Tony-nominated play in history — has something to say about that. We speak with the people who make it happen every night. (Part one of a two-part series.)

• SOURCES:
  • David Adjmi, author and playwright.
  • Sonia Friedman, theater producer and founder of Sonia Friedman Productions.
  • John Johnson, theater producer and co-founder of Wagner Johnson Productions.
  • Tom Pecinka, actor.
  • Sarah Pidgeon, actor.

• RESOURCES:
  • Stereophonic, by David Adjmi, Will Butler, and Daniel Aukin (2023).
  • Lot Six: A Memoir, by David Adjmi (2020).
  • "On the Performing Arts: The Anatomy of Their Economic Problems," by W. J. Baumol and W. G. Bowen (The American Economic Review, 1965).

Every December, a British man named Tom Whitwell publishes a list of 52 things he’s learned that year. These fascinating facts reveal the spectrum of human behavior, from fraud and hypocrisy to Whitwell’s steadfast belief in progress. Should we also believe?

• SOURCES:
  • Tom Whitwell, managing consultant at Magnetic.

• RESOURCES:
  • "Supercentenarian and Remarkable Age Records Exhibit Patterns Indicative of Clerical Errors and Pension Fraud," by Saul Justin Newman (Working Paper, 2024).
  • "52 things I learned in 2023," by Tom Whitwell (Magnetic Notes, 2023).
  • "Job Satisfaction 2023," by The Conference Board (2023).
  • "What Fax Machines and Floppy Disks Reveal About Britain’s Productivity Problem," (The Economist, 2017).
  • Fighting Traffic: The Dawn of the Motor Age in the American City, by Peter D. Norton (2008).
  • "Beyond Propaganda," by John Kenney (The New York Times, 2006).

Andre Crisp is the Co-Founder and CEO of Legend Napa Valley Custom Crush, Global Wine Brands, and The Crisp Family Foundation. From an early age, Andre had the privilege of immersing himself in the captivating ambiance of the wine country, often spending weekends with his family in this picturesque region. After a decade of remarkable experiences in the tech industry, Andre's innate connection to the world of wine beckoned him to set his sights on a new venture. Thus, he made the natural transition from Silicon Valley to the enchanting landscapes of Napa Valley, where he has resided for the past 15 years, nurturing his passion for winemaking.

Beyond his accomplishments in the business world, Andre's dedication to philanthropy is a defining aspect of his character. This altruistic drive led to the establishment of The Crisp Family Foundation, through which Andre and his wife, Dr. Allison Crisp, strive to make a positive impact on the lives of others.

Here’s a glimpse of what you’ll learn: 

• Andre discusses his introduction to the wine industry and shares the story of how he established his presence in Napa Valley

• Andre explains the concept behind Legend Napa Valley's Custom Crush facility, the first winery located in Napa Valley from the south

• The episode highlights the unique feature of a hospitality center at a custom crush facility

• Andre emphasizes the importance of breaking down barriers and welcoming everyone in the wine industry 

• The discussion explores the challenges faced by wineries in addressing the misconception of being standoffish

• Andre shares insights into the unique challenges faced by a custom crush facility in managing diverse client needs

• Andre provides an example of how clients collaborate with Legend Napa Valley 

• Andre discusses how Legend Napa Valley assists individuals with brand ideas in bringing their wine concepts to life

• The conversation covers the services offered, including assistance with labeling, compliance, and proper licensings

• Andre sheds light on The Crisp Family Foundation and their philanthropic endeavors

• Andre shares his personal wine preferences

In this episode with Andre Crisp

Andre Crisp of Legend Napa Valley shares his insights into the wine industry, his establishment in Napa Valley, and the vision behind the Legend Napa Valley Custom Crush Facility. Discover how Andre is breaking down barriers and promoting accessibility and inclusivity in Napa Valley wineries. 

In today’s episode of the Legends Behind the Craft podcast, Drew Thomas Hendricks and Bianca Harmon are joined by Andre Crisp, Co-Founder and CEO of Legend Napa Valley, Global Wine Brands, and The Crisp Family Foundation. Dive into the challenges of a custom crush facility and explore the process of working with clients to bring their wine brand dreams to life. Andre also delves into the philanthropic efforts of The Crisp Family Foundation and shares his personal preferences when it comes to wine, emphasizing the importance of openness and inclusivity in the industry.

Sponsor for this episode…

This episode is brought to you by Barrels Ahead.

Barrels Ahead is a wine and craft marketing agency that propels organic growth by using a powerful combination of content development, Search Engine Optimization, and paid search.

At Barrels Ahead, we know that your business is unique. That’s why we work with you to create a one-of-a-kind marketing strategy that highlights your authenticity, tells your story, and makes your business stand out from your competitors.

Our team at Barrels Ahead helps you leverage your knowledge so you can enjoy the results and revenue your business deserves.

So, what are you waiting for? Unlock your results today!

To learn more, visit barrelsahead.com or email us at hello@barrelsahead.com to schedule a strategy call.

A few decades ago, nobody really questioned vaccines. They were viewed as a standard part of staying healthy and safe. Today, the number of people questioning vaccines risks prolonging a pandemic that has already killed hundreds of thousands of Americans. How we got to this moment didn’t start with the rollout of vaccines or in March 2020, or even with the election of Donald Trump. Our confidence in vaccines, often isn't even about vaccines. It’s about trust. And that trust has been eroding for a long time. Doubt, a new series from Bloomberg’s Prognosis podcast, looks at the forces that have been breaking down that trust. We'll trace the rise of vaccine skepticism in America to show how we got here — and where we’re going. Doubt launches on March 23. Subscribe to Prognosis today on Apple Podcasts, Spotify or wherever you get your podcasts.

See omnystudio.com/listener for privacy information.

Randy Detrick is the owner and winemaker of Blue Ridge Estate Vineyard and Winery in Saylorsburg, Pennsylvania. A former ski racer, Randy's journey into winemaking began when his wife sparked the idea of growing grapes on their farm during a trip to Italy. Taking a leap of faith, they embraced the wine business and made their dream come true. Now, their thriving vineyard stands as a testament to their passion and dedication. Randy also inspires others as a sought-after motivational speaker with his podcast, "Living On Purpose By Randy Detrick."

Here’s a glimpse of what you’ll learn: 

• Learn about how Randy and Tiffany founded Blue Ridge Winery and what inspired them to embark on this wine-making journey

• Blue Ridge Winery introduces a unique ancient wine preservation method by aging wine barrels underground

• Randy takes us on a journey through The Underground Experience at Blue Ridge Winery and discover how the wines themselves are an integral part of this immersive experience

• Explore how authenticity and atmosphere play a significant role and Randy shares what makes their winery stand out and how they create memorable moments beyond wine

• Aside from being a winery owner, Randy is a highly sought-after motivational speaker, and he shares some insights into his motivational journey

• Blue Ridge Winery The Godfather, Top 1% Wines in the World

• Get introduced to the enchanting Glitter Inspiration wines from Blue Ridge Winery

• Join us for a glimpse into Blue Ridge Winery, their wine cellar, and the unique underground room

• Randy discusses how Blue Ridge Winery navigated the challenges posed by the pandemic

• Find out what exciting projects and ventures Blue Ridge Winery has in store for the future

• Blue Ridge Winery in the landscape of wineries in the area

• Randy offers valuable advice for anyone aspiring to start their own winery

In this episode with Randy Detrick

Randy Detrick of Blue Ridge Winery, shares his journey from founding the winery with Tiffany to becoming a sought-after motivational speaker. We'll learn about their ancient wine preservation technique, aging wine by burying barrels underground. Get ready to uncover the secrets behind The Underground Experience at Blue Ridge Winery, where wines and the experience blend seamlessly. From their Glitter Inspiration wines to the vision for a multi-generational winery, Randy offers valuable insights for aspiring winery entrepreneurs. 

In today’s episode of the Legends Behind the Craft podcast, Drew Thomas Hendricks and Bianca Harmon are joined by Randy Detrick, Owner and Winemaker at Blue Ridge Estate Vineyard & Winery and a motivational speaker. Discover why Blue Ridge Winery stands out as a top-tier destination in the world of wines, as we discuss their pandemic adaptation, future projects, and their unique position within the winery landscape of Saylorsburg, Pennsylvania.

Sponsor for this episode…

This episode is brought to you by Barrels Ahead.

Barrels Ahead is a wine and craft marketing agency that propels organic growth by using a powerful combination of content development, Search Engine Optimization, and paid search.

At Barrels Ahead, we know that your business is unique. That’s why we work with you to create a one-of-a-kind marketing strategy that highlights your authenticity, tells your story, and makes your business stand out from your competitors.

Our team at Barrels Ahead helps you leverage your knowledge so you can enjoy the results and revenue your business deserves.

So, what are you waiting for? Unlock your results today!

To learn more, visit barrelsahead.com or email us at hello@barrelsahead.com to schedule a strategy call.

Philip James is the Founder and CEO of Firstleaf, one of the largest wineries in the US, directly serving hundreds of thousands of consumers with wines from around the world. With over $500 million in online sales to his name, he's an entrepreneur known for combining technology, consumer insights, and the expertise of world-class winemakers. He has also helmed successful ventures like Lot18 and Snooth, earning awards and recognition. With graduate degrees from Oxford and Columbia University, he's not just a business leader but also a sought-after guest speaker at prestigious institutions.

Here’s a glimpse of what you’ll learn:

• Philip introduces Firstleaf as a unique wine company that combines import, winemaking, and personalization

• Firstleaf's wine personalization quiz, exploring its evolution from past wine quizzes

• Philip elaborates on Firstleaf's approach to categorizing users into clusters based on their feedback, creating a unique wine selection for each individual

• Philip shares insights into Firstleaf's fulfillment process

• The conversation shifts to the role of technology in Firstleaf

• Philip reflects on the common misconception that wine appreciation requires memorization

• The discussion touches on Firstleaf's classification as a Consumer Packaged Goods (CPG) or technology company

• The conversation explores wine subscription services in other countries

• Philip shares valuable advice for aspiring entrepreneurs in the wine industry, emphasizing the importance of leveraging technology

In this episode with Philip James

Dive into the world of wine innovation with Philip James, the Founder & CEO of Firstleaf, a game-changing direct-to-consumer wine company. Learn how Firstleaf uses personalization and data to craft unique wine experiences for each customer. 

In today’s episode of the Legends Behind the Craft podcast, Drew Thomas Hendricks is joined by Philip James, Founder & CEO at Firstleaf. Discover the secrets behind their wine personalization quiz, wine clusters, and fulfillment magic. Philip also challenges the need for wine memorization, making wine enjoyment accessible to all. Plus, get insights on entrepreneurship in the wine industry and the role of technology in business growth. If you're curious about wine, tech, and entrepreneurship, this podcast is a must-listen.

Sponsor for this episode…

This episode is brought to you by Barrels Ahead.

Barrels Ahead is a wine and craft marketing agency that propels organic growth by using a powerful combination of content development, Search Engine Optimization, and paid search.

At Barrels Ahead, we know that your business is unique. That’s why we work with you to create a one-of-a-kind marketing strategy that highlights your authenticity, tells your story, and makes your business stand out from your competitors.

Our team at Barrels Ahead helps you leverage your knowledge so you can enjoy the results and revenue your business deserves.

So, what are you waiting for? Unlock your results today!

To learn more, visit barrelsahead.com or email us at hello@barrelsahead.com to schedule a strategy call.

Do more expensive wines taste better? And: what does one little rodent in a salad say about a restaurant’s future?