请双击下面的英文字幕来播放视频。
翻译人员: Hong Li
校对人员: Wei Wu
00:13
This is the Air Jordan 3 Black Cement.
0
13349
5013
这是一双飞人乔丹3代黑水泥球鞋。
00:19
This might be the most
important sneaker in history.
1
19124
3367
它可能是史上最重要的一双球鞋。
00:23
First released in 1988,
2
23111
1803
于1988年首次推出,
00:24
this is the shoe that started
Nike marketing as we know it.
3
24938
3541
正是它开启了我们熟知的耐克营销(模式)。
00:29
This is the shoe that propelled
the entire Air Jordan lineage,
4
29046
3794
正是它开启了整个飞人乔丹产品线,
00:32
and perhaps saved Nike.
5
32864
2019
甚至可能拯救了耐克公司。
00:34
The Air Jordan 3 Black Cement
did for sneakers
6
34907
2913
飞人乔丹3代黑水泥对于球鞋的意义
00:37
what the iPhone did for phones.
7
37844
1791
就像iPhone对于手机的意义。
00:40
It's been re-released four times.
8
40110
2020
这款鞋先后发售过四次。
00:42
Every celebrity's been seen wearing it.
9
42637
2144
几乎所有明星都穿过它。
00:44
There's a site about what to wear
with the Black Cement.
10
44805
2655
有一个网站还专门介绍
应该穿什么(衣服)来搭配黑水泥。
00:47
It's been right under
your nose for decades
11
47484
2640
它已经流行了几十年
00:50
and you never looked down.
12
50148
1982
而你却从未注意过它。
00:52
And right about now,
13
52577
1766
也许就在此刻,
00:54
most of you are probably
thinking, "Sneakers?"
14
54367
3399
你们大多数人会想,“啥?球鞋?”
00:58
(Laughter)
15
58097
1955
(笑声)
01:00
Yes.
16
60076
1162
是的。
01:01
Yes, sneakers.
17
61262
1571
没错,就是球鞋。
01:03
Some extraordinary things about sneakers
18
63805
3583
(我想说说)关于球鞋的趣事
01:07
and data
19
67412
1589
关于数据
01:09
and Nike
20
69025
1475
关于耐克
01:10
and how they're all related, possibly,
to the future of all online commerce.
21
70524
4229
以及它们是如何同
在线贸易的未来联系在一起的。
01:15
In 2011,
22
75259
1160
2011年,
01:16
the last time the Jordan 3
Black Cement was released,
23
76443
2979
乔丹3代黑水泥最近一次发售,
01:19
at a retail of 160 dollars,
24
79446
2333
零售价160美元,
01:21
it sold out globally in minutes.
25
81803
2459
在全球范围内几分钟就被抢购一空。
01:24
And that's because people were camped
outside of sneaker stores
26
84286
2993
因为人们在店外扎营等候,
01:27
for days before it went on sale.
27
87303
1771
从发售开始几天前就开始了。
01:29
And just minutes after that,
28
89399
1444
在此之后几分钟内,
01:30
thousands of those pairs were on eBay
for two and three times retail.
29
90867
3535
数千双黑水泥在eBay上以2-3倍的价格出售。
01:34
In fact, there's over 1,000 pairs on eBay
right now, four years later.
30
94923
4381
实际上,四年后的今天,
eBay上仍有超过1000双在出售。
01:40
But here's the thing:
31
100107
1598
更为重要的是:
01:41
this happens every single Saturday.
32
101729
3458
这样的事情每个星期六都在发生。
01:45
Every week there's another
release or two or three,
33
105560
2547
每周都会有一、两款鞋发售,
01:48
and every shoe has a story
34
108131
2254
每款鞋都有自己的故事
01:50
as rich and compelling
as the Jordan 3 Black Cement.
35
110409
2930
每个故事都像乔丹3代黑水泥一样精彩。
01:54
This is Nike building
the marketplace for sneakerheads --
36
114069
4156
这就是耐克为“球鞋控”打造的交易市场。
01:58
people who collect sneakers --
37
118249
3776
“球鞋控”就是指这些收集球鞋的人,
02:02
and my daughter.
38
122049
1248
还有我的女儿。
02:03
(Laughter)
39
123321
1925
(笑声)
02:05
That's an "I love Dad" T-shirt.
40
125270
2067
T恤上写的是“我爱老爸”。
02:08
For the brands, sneakerheads
are a very important demographic.
41
128244
3169
对于品牌而言,“球鞋控”
是非常重要的目标人群。
02:11
These are the tastemakers;
these are the Apple fanboys.
42
131437
3922
他们就如同时尚达人,
他们就如同苹果的“果粉”。
02:15
Because who else is going to buy
43
135383
1539
因为除了“球鞋控”
02:16
a pair of $8,000
Back to the Future sneakers?
44
136946
3216
谁会花8000美元
去买一双“回到未来”风的球鞋呢?
02:20
(Laughter)
45
140603
1838
(笑声)
02:22
Yeah, 8,000 dollars.
46
142465
2077
没错,8000美元。
02:25
And while that's obviously the anomaly,
47
145364
2351
尽管(在日常生活中)这简直不可思议,
02:27
the resell sneaker market
is definitely not.
48
147739
3178
但在二手球鞋市场就再正常不过了。
02:30
Thirty years in the making,
49
150941
1824
这个市场已经发展了30年,
02:32
what started as an underground culture
50
152789
1936
最初还是一种地下文化,
02:34
of a few people who like sneakers
just a bit too much --
51
154749
2981
起源于一小部分对球鞋的爱,
只比普通人多一点点的人。
02:37
(Laughter)
52
157754
1400
(笑声)
02:40
Now we have sneaker addictions.
53
160524
2210
现在我们都爱鞋成瘾了。
02:42
In a market where in the past 12 months,
54
162758
1928
在过去12个月,
02:44
there have been over
nine million pairs of shoes
55
164710
2254
有超过900万双鞋
02:46
resold in the United States alone,
56
166988
2393
在美国被转手出售,
02:49
at a value of 1.2 billion dollars.
57
169405
4240
总价值12亿美元。
02:53
And that's a conservative estimate --
58
173669
2039
这还只是保守估计。
02:55
I should know, I am a sneakerhead.
59
175732
3203
(这些数据)我应该知道,
(因为)我就是个“球鞋控”
02:58
This is my collection.
60
178959
1507
这些是我的收藏。
03:00
In the pantheon of great collections,
mine doesn't even register.
61
180981
3895
跟大咖们相比,我的数量少得可怜。
03:05
I have about 250 pairs,
but trust me, I am small-time.
62
185392
3046
我有大约250双球鞋,
但是真不算什么。
03:08
People have thousands.
63
188462
1955
有的人有几千双。
03:10
I'm a very typical
37-year-old sneakerhead.
64
190759
2684
我是个典型的37岁的“球鞋控”。
03:14
I grew up playing basketball
when Michael Jordan played,
65
194139
2633
我是打篮球长大的,
当时乔丹还没退役,
03:16
I always wanted Air Jordans,
66
196796
1340
我一直想买乔丹鞋,
03:18
my mother would never buy me Air Jordans,
67
198160
1969
我妈肯定不答应,
我一有钱就会去买乔丹鞋,
03:20
as soon as I got some money
I bought Air Jordans --
68
200153
2393
我想,大家的经历都差不多。
03:22
literally, we all have
the exact same story.
69
202570
2073
03:24
But here's where mine diverged.
70
204667
1695
但我的经历又有些不同。
03:27
After starting three companies,
I took a job as a strategy consultant,
71
207166
4095
在开办了3家公司之后,
我找了一份战略咨询师的工作,
03:31
when I very quickly realized that
I didn't know the first thing about data.
72
211285
3914
然后我迅速意识到,
我对数据一无所知。
03:35
But I learned, because I had to,
73
215950
2788
但我学得很快,因为我不得不学。
03:38
and I liked it.
74
218762
1294
而且我很喜欢。
03:40
So I thought, I wonder if I could
get ahold of some sneaker data,
75
220080
3412
然后我就想,能不能
抓取一些关于球鞋的数据,
03:43
just to play with for my own amusement.
76
223516
2012
仅仅是为了好玩。
03:45
The goal was to develop a price guide,
77
225949
1873
我的目标是做出一个价格指导系统,
03:47
a real data-driven view of the market.
78
227846
2197
能一窥真实的市场状况,
完全靠数据说话。
03:50
And four years later, we're analyzing
over 25 million transactions,
79
230373
4329
四年过去了,我们能(通过)
分析超过2500万宗交易,
03:54
providing real-time analytics
on thousands of sneakers.
80
234726
2916
提供对数千双球鞋的实时(价格)分析。
03:58
Now sneakerheads check prices
while camping out for releases.
81
238331
3551
现在“球鞋控”在排队等待发售
的时候可以查询价格。
04:02
Others have used the data
to validate insurance claims.
82
242540
3150
其他人用这些数据来看自己是否买亏了。
04:06
And the top investment banks in the world
83
246781
1981
顶级投资银行们
04:08
now use resell data to analyze
the retail footwear industry.
84
248786
4606
也利用这些二手交易数据
来分析制鞋工业销售情况。
04:13
And here's the best part:
85
253416
1590
但最棒的是,
04:15
sneakerheads have sneaker portfolios.
86
255030
3529
“球鞋控”有了球鞋投资收益表。
04:18
(Laughter)
87
258583
1502
(笑声)
04:20
Sneakerheads can track the value
of their collection over time,
88
260617
2973
他们可以跟踪自己藏品的价值,
04:23
compare it to others,
89
263614
1151
与其他人(的藏品)进行比较,
04:24
and have access to the same
analytics you might
90
264789
2230
得到详细的(投资)分析,
就跟我们的在线经纪人账户一样。
04:27
for your online brokerage account.
91
267043
1920
04:28
So sneakerhead Dan builds his collection
and identifies which 352 are his.
92
268987
4904
所以“球鞋控”丹创建了自己的藏品集,
一共有352双鞋。
04:33
He can see it's worth 103,000 dollars --
93
273915
2889
他可以看到,目前这些鞋值10万3千美元,
04:36
frankly, a modest collection.
94
276828
2001
坦率地说,规模不算大。
04:38
At the asset level,
he can see gain-loss by shoe.
95
278853
3609
上升到资产层面,他可以
看到每双鞋价值的变化
04:42
Here he's made over
600 dollars on one pair.
96
282486
2514
这双鞋他就已经赚了600美元。
04:46
I have one of those.
97
286183
1331
我也有一双这样的。
04:47
(Laughter)
98
287538
1579
(笑声)
04:50
So an unregulated
1.2 billion dollar industry
99
290655
3447
因此,这是一项价值高达12亿美元
的产业,却又缺乏监管,
04:54
that thrives as much on the street
as it does online,
100
294126
2569
它在线上线下同时繁荣发展,
04:56
and has spawned fundamental
financial services for sneakers?
101
296719
3746
还催生出了针对球鞋的基本金融服务。
05:01
At some point I asked myself
what's really going on in the market,
102
301113
3136
有时候我会问自己,
这个市场到底是怎么运作的,
05:04
and two comparisons started to emerge.
103
304273
2315
我的脑海中会浮现两个参照物。
05:06
Are sneakers more like stocks or drugs?
104
306612
3751
球鞋是像股票呢,还是像毒品?
05:10
(Laughter)
105
310387
1201
(笑声)
05:11
In fact, one guy emailed to say
106
311612
1868
一次,一个人给我发邮件说,
05:13
he thought his 15-year-old son
was selling drugs
107
313504
4264
他觉得自己15岁的儿子在卖毒品,
05:17
and later found out
he was selling sneakers.
108
317792
2531
结果发现他在卖球鞋。
05:20
(Laughter)
109
320853
1161
(笑声)
05:22
And now they use the data
to do it together.
110
322757
2531
现在父子俩用我们的数据
一块在做这个生意。
05:25
And that's because sneakers
are an investment opportunity
111
325711
2698
因为在没有其他投资手段的时候,
05:28
where none other exists.
112
328433
1159
球鞋成为了投资机会。
05:29
And I don't just mean the kid
selling sneakers instead of drugs.
113
329616
3037
我想说的并不仅仅是这一个
选择卖球鞋(而非卖毒品)的孩子。
05:32
How about all kids?
114
332677
1690
如果所有的孩子都这样选择呢?
05:34
You have to be 18
to play the stock market.
115
334391
2753
你得年满18岁才能买股票。
05:37
I sold chewing gum in sixth grade,
116
337967
2340
我在6年级的时候卖过口香糖,
05:40
Blow Pops in ninth grade
117
340331
1578
9年级的时候卖棒棒糖,
05:41
and collected baseball cards
through high school.
118
341933
2421
高中阶段一直在收集棒球卡。
05:44
The cards are long dead,
119
344378
1797
棒球卡已经没人玩了,
05:46
and the candy market's
usually quite local.
120
346199
2373
而糖果生意呢通常局限在本地。
05:49
For a lot of people, sneakers are a legal
and accessible investment opportunity --
121
349122
5727
对很多人来说,球鞋是一种合法
且门槛较低的投资机会——
05:54
a democratized stock market,
122
354873
3767
就像是大众化的股票市场,
05:58
but also unregulated.
123
358664
2071
但同时缺乏监管。
06:00
Which is why the story
you're probably most familiar with
124
360759
2782
这就是为什么一提到二手球鞋,
大家最先想到的是
06:03
is people killing each other for sneakers.
125
363565
2415
有人为了球鞋不惜伤人性命。
06:06
And while that definitely
happens and is tragic,
126
366606
3775
如果真有这样的事发生,
当然是个悲剧,
06:10
it's not nearly the epidemic
some media would have you believe.
127
370405
3845
但肯定没有一些媒体宣扬的那么可怕。
06:14
In fact, it's a very small piece
of a much bigger and better story.
128
374274
4185
实际上,这样的事还是极少数,
世界还是美好的。
06:18
So sneakers have clear similarities
129
378483
1696
因此,球鞋跟股票和毒品
06:20
to both the stock exchange
and the illegal drug trade,
130
380203
3104
还真是有明显的相似之处,
06:23
but perhaps the most fundamental
is the existence of a central actor.
131
383331
4397
但最基本的一点就是,
都有一个核心玩家。
06:27
Someone is making the rules.
132
387752
1983
有一个规则制定者。
06:30
In the case of sneakers,
that someone is Nike.
133
390988
3993
对于球鞋而言,
这个规则制定者就是耐克。
06:35
Let me walk you through some numbers.
134
395910
2252
我给大家看一组数字。
06:38
The resell market,
we know, is $1.2 billion.
135
398186
3236
二手球鞋市场,我们刚才说到了,
价值12亿美元。
06:41
Nike, including Jordan brand,
136
401446
2298
耐克,包括乔丹品牌,
06:43
accounts for 96 percent of all shoes
sold on the secondary market.
137
403768
4516
占据了整个二手市场出售鞋类的96%。
06:48
Just complete domination.
138
408308
1592
完全的霸主地位。
06:49
Sneakerheads love Jordans.
139
409924
2588
“球鞋控”超爱乔丹鞋。
06:52
And profit on the secondary market
is about a third.
140
412536
3011
二手市场的利润大约为三成。
06:55
That means that sneakerheads
made 380 million dollars
141
415571
5070
也就是说通过倒手卖耐克鞋,
07:00
selling Nikes last year.
142
420665
1888
“球鞋控”去年赚了3.8亿美元。
07:03
Let's jump to retail for a second.
143
423030
2017
让我们来看看零售业。
07:05
Skechers, earlier this year,
144
425071
1420
斯凯奇在今年早些时候,
07:06
became the number two
footwear brand in the country,
145
426515
2790
成为了美国第二大鞋品牌,
07:09
surpassing Adidas --
this was a big deal.
146
429329
2834
超越了阿迪达斯,很了不起。
07:12
And in the 12 months ending in June,
147
432187
2774
从去年6月到今年6月,1年的时间内,
07:14
Skechers's net income
was 209 million dollars.
148
434985
4064
斯凯奇的收入为2.09亿美元。
07:19
That means that Nike's customers
149
439853
3334
这就意味着耐克(通过自己)的消费者们
07:23
make almost twice as much profit
as their closest competitor.
150
443211
3536
创造的利润就几乎达到
其最大竞争对手的两倍。
07:27
That --
151
447758
1799
这真是……
07:29
(Laughter)
152
449581
3424
(笑声)
07:33
How is that even possible?
153
453029
1576
简直不可思议!
07:36
The sneaker market
is just supply and demand,
154
456249
2581
球鞋市场无非就是供给与需求,
07:38
but Nike's gotten very good at using
supply -- limited sneakers --
155
458854
4722
但耐克掌握了供给的秘诀——限量款球鞋——
07:43
and the distribution of those sneakers
to their own benefit.
156
463600
3813
以及强大的分销网络。
07:47
So it's really just supply.
157
467437
2012
因此供给真的很重要。
07:49
Sneakerheads joke that as long
as it's limited and Nike, they'll buy it.
158
469473
3765
“球鞋控”开玩笑说,只要是
限量款的耐克,他们就会买。
07:53
Shoes that sell for 8,000 dollars
do so because they're very rare.
159
473262
3809
之前那双鞋卖到8000美元
就是因为它稀有。
07:57
It's no different than any other
collectible market,
160
477095
2766
其它的收藏品市场其实也是如此,
07:59
only this isn't a market at all.
161
479885
3080
只不过鞋类收藏还称不上一个市场。
08:03
It's a false construct created by Nike --
162
483508
2445
而是由耐克打造的一个空中楼阁——
08:05
ingeniously created by Nike, in the most
positive sense -- to sell more shoes.
163
485977
4281
精妙无比,目标明确——卖出更多的鞋。
08:10
And in the process,
164
490613
1151
在这一过程中,
08:11
it provided tens of thousands of people
with life-long passions,
165
491788
3368
成千上万的人找到了终生的爱好,
08:15
myself included.
166
495180
1481
也包括我。
08:17
If Nike wanted to kill the resell market,
they could do so tomorrow,
167
497488
3215
如果耐克想要干掉二手市场,
那是分分钟的事,
08:20
all they have to do is release more shoes.
168
500727
2032
它只要多发售一些鞋就行了。
08:22
But we certainly don't want them to,
nor is it in their best interest.
169
502783
3517
但我们当然不想他们这么做,
而且这也不符合他们的利益。
08:27
That's because unlike Apple, who will sell
an iPhone to anyone who wants one,
170
507345
4237
苹果的策略是把手机
卖给每一个需要的人,
08:31
Nike doesn't make their money
by just selling $200 sneakers.
171
511606
3818
而耐克不一样,它不光通过
卖200美元的球鞋赚钱。
08:35
They sell millions of shoes to millions
of people for 60 dollars.
172
515448
3251
它以60美元的价格卖出数百万双鞋。
08:39
And sneakerheads are the ones
who drive the marketing
173
519146
2539
“球鞋控”是推动销售的人,
08:41
and the hype and the PR
and the brand cachet,
174
521709
2530
他们口口相传,卖力吆喝,
打造品牌价值,
08:44
and enable Nike to sell millions
of $60 sneakers.
175
524263
3540
耐克才有可能卖出数百万双60美元的鞋。
08:49
It's marketing.
176
529501
1381
这就是营销。
08:50
It's marketing the likes of which
has never been seen before --
177
530906
3112
这种营销前所未见——
任何教科书上都没有写。
08:54
this isn't in any textbook.
178
534042
1420
08:55
For 15 years Nike has propped up
an artificial commodities market,
179
535486
3540
耐克用15年的时间,
打造了一个人工商品市场,
08:59
with a Facebook-level hyped IPO
every single weekend.
180
539050
4463
每个周末都相当于进行了一次
规模堪比Facebook的IPO宣传。
09:03
Drive by any Footlocker at 8am
on a Saturday morning,
181
543537
2673
每周六早上8点,你开车经过
Footlocker任意一家门店,
09:06
and there will be a line down the street
and around the block,
182
546234
2951
都能看见门口长长的队伍,
甚至绕街区好几圈,
有些孩子甚至已经排了整整一周。
09:09
and sometimes those kids
have been waiting there all week.
183
549209
2861
09:12
You know those crazy iPhone lines
you see on the news every other year?
184
552437
3771
大家都记得,疯狂排队买新iPhone,
是两年一次。
09:16
Nike lines happen 104 times more often.
185
556232
4290
而排队买耐克,是每两年104次。
09:21
So Nike sets the rules.
186
561075
1528
所以耐克拥有话语权。
09:22
And they do so by controlling
supply and distribution.
187
562627
2774
他们通过控制供给
和分销网络来做到这一点。
09:26
But once a pair leaves
the retail channel, it's the Wild West.
188
566014
3897
但一旦一双鞋通过零售渠道卖出去后,
事情就失去控制了。
09:30
There are very few -- if any --
legal, unregulated markets of this size.
189
570500
5503
几乎没有哪个合法
又缺乏监管的市场能达到如此体量。
09:36
So Nike is definitely
not the stock exchange.
190
576480
3323
因此,耐克绝对不是(这个市场的)交易所。
09:39
In fact, there is no central exchange.
191
579827
2783
实际上,这样的交易所不存在。
09:42
By last count, there were 48 different
online markets that I know of.
192
582634
4738
根据最新统计,光我知道的
在线市场就有48个之多。
09:48
Some are eBay clones,
some are mobile markets,
193
588610
2868
有些是山寨eBay,
有些是移动互联网商场,
09:51
and then you have consignment shops
and brick-and-mortar stores,
194
591502
3022
还有寄售商店,实体店,
09:54
and sneaker conventions,
and reseller sites,
195
594548
2064
球鞋展会,二手网站,
09:56
and Facebook and Instagram and Twitter --
196
596636
2405
还有Facebook、Instagram和Twitter——
09:59
literally, anywhere sneakerheads
come into contact with each other,
197
599065
3532
一句话,只要是“球鞋控”能建立联系的地方,
10:02
shoes will be bought and sold.
198
602621
1990
就有球鞋买卖。
10:05
But that means no efficiencies,
no transparency,
199
605504
5011
但这也意味着缺乏效率,不透明,
10:10
sometimes not even authenticity.
200
610539
2216
有时候甚至不可靠。
10:13
Can you imagine if that's
how stocks were bought?
201
613584
2793
想象一下如果买股票也是这样呢?
10:17
What if the way to buy
a share of Apple stock
202
617125
2284
想象一下,你想买苹果公司股票,
10:19
was to search over 100 places
online and off,
203
619433
2855
结果你需要在线上线下
搜索超过100个地方,
10:22
including every time
you walk down the street
204
622312
2223
每当你在街上走的时候,
10:24
just hoping to pass someone
wearing some Apple stock?
205
624559
2638
还得希望碰到几个持有苹果股票的人。
10:27
Never knowing who had the best price,
206
627221
1867
不知道谁出价最合理,
10:29
or even if the stock
you were looking at was real.
207
629112
2567
甚至不知道这股票是真是假。
10:31
That would surely make you say:
208
631703
1817
这时候,你可能会说:
10:33
[WTF?]
209
633544
2054
[这都什么鬼?!]
10:35
Of course that's not how we buy stock.
210
635622
2287
当然,买股票不是这样的。
10:38
But what if that's not how
we need to buy sneakers either?
211
638904
3019
但是,为什么买球鞋就要这样呢?
10:42
What if the inverse is true,
212
642923
1382
如果反过来,
10:44
and what if we could buy sneakers
213
644329
1586
我们可以像买股票一样
10:45
exactly the same way as we buy stock?
214
645939
1793
来买球鞋呢?
10:47
And what if it wasn't just sneakers,
but any similar product,
215
647756
2889
或者除了球鞋,
包括所有类似的商品,
10:50
like watches and handbags
and women's shoes,
216
650669
2103
比如手表、手袋、女式鞋,
10:52
and any collectible, any seasonal item
and any markdown item?
217
652796
3348
收藏品,季节性商品,减价商品。
10:56
What if there was
a stock market for commerce?
218
656168
3243
如果能有一个用来做贸易的“股票市场”呢?
11:00
A stock market of things.
219
660046
2822
一个交易物品的“股票市场”。
11:04
And not only could you buy in a much more
educated and efficient manner,
220
664167
4323
这样一来,你不光可以用
更文明更有效的的方式买买买,
11:08
but you could engage in all
the sophisticated financial transactions
221
668514
3240
你还可以进行更为精确的金融交易,
11:11
you can with the stock market.
222
671778
1583
就像在股市上一样。
11:13
Shorts and options and futures
223
673385
1603
缺点,可能性,未来
11:15
and well, maybe you see
where this is going.
224
675012
3110
也许,一些人觉得这事不靠谱。
11:18
Maybe you want to invest
in a stock market of things.
225
678146
3923
而你呢,想往这个交易物品的
“股票市场”里投些钱。
11:22
Because if you had invested in a pair
of Air Jordan 3 Black Cement in 2011,
226
682997
6272
因为如果你在2011年投资了
一双飞人乔丹3代黑水泥球鞋,
11:29
you could either be wearing them onstage,
227
689293
2397
你要么可以在舞台上穿着它们,
11:31
(Laughter)
228
691714
1919
(笑声)
11:33
or have earned 162 percent
on your money --
229
693657
3297
或者赚取162%的回报——
11:37
double the S&P and 20 percent
more than Apple.
230
697670
3345
是标准普尔指数的两倍,
比苹果公司还多20%。
11:41
(Laughter)
231
701039
1719
(笑声)
11:43
And that's why
we're talking about sneakers.
232
703203
2461
这就是我们今天谈论球鞋的原因。
11:46
Thank you.
233
706228
1151
谢谢大家。
11:47
(Applause)
234
707403
2922
(掌声)
New videos
关于本网站
这个网站将向你介绍对学习英语有用的YouTube视频。你将看到来自世界各地的一流教师教授的英语课程。双击每个视频页面上显示的英文字幕,即可从那里播放视频。字幕会随着视频的播放而同步滚动。如果你有任何意见或要求,请使用此联系表与我们联系。