At what point did you realize, okay, I need to make a change here? And was it scary at first?

Yeah, so it's funny.

There was kind of two moments for that for me.

One is when I started at Google, I was like, I'm going to be here for a year.

I'm going to give myself a year and then I'm going to start a company.

It was always in my mind that I wanted to do something entrepreneurial.

The funny thing about Google is just it's such an amazing place to work and you work with such intelligent people that it's very hard to leave and they do an amazing job at making it feel very comfortable and they incentivize you to stay.

What information do you think somebody who is interested in collecting watches, but hasn't started yet needs to know before going into it?

Mm.

I think, like, the, the pro side argument is that, to your point, Jordy, it's an interesting entry point.

It allows people to kind of aspirationally engage with the product before they can buy the product.

I think the con is, uh, if you see a bunch of people wearing a $400 example of the watch that you spent $30,000 for, does it in some way detract from the ownership that you have? There's a lot of these arguments on the internet of like, "You don't see Ferrari out here collaborating with Toyota to make a Civic."

Mm-hmm

... available that are trending kind of at retail or less than retail.

And so, you know, if you look back on the Ro- on the Royal Oak catalog, there's like, you know, you can get a 15300.

It's a 39 millimeter, oftentimes argued better size for in the low 30s, right about where retail is.

That was-

Yeah.

So they, then that initial, I think it was like 10% or 15% whatever the initial tariff was, was announced while I was in Geneva, and then I came back and chatted with you all about like the overall experience.

And then it shot all the way up to like 39, or high 30, 39%, um, and then came back down to 15.

And so, um, throughout that cycle, the first thing that happened is exactly what you're describing, where folks who had watches in the US immediately shot up in value, and there was much more demand.

Because two things happened.

One, the pricing goes up, but also the access goes down.

Like, we don't, you know, we don't, we don't want it"?