It's finally here. The highly anticipated, Apple augmented reality, headset has arrived. And in this episode, I'm going to be going over this headset giving you my impressions of it as well, as many of the other Apple announcements and other news as well. So as always we have a lot to get into. Now, they're calling this new device, this new AR headset, The Vision Pro, that is the name. It was rumored to be the Apple
glasses or apple glass. It's the Vision Pro and this is highly anticipated, something that we knew Apple has been working on for years. And they finally got around to releasing it. No more delays. It is hair before I go into all the features and what I think of the look and design and functionality and price point, and what this means for apples future. In fact, before looking at any of that, I want to go back and revisit what's important to pay attention to as investors.
I'm not just an apple consumer. I don't just use their products, but I invest in the company and that's primarily the way I'm going to be judging these products with every investment I have including Apple. There are long-term investments in companies. Annie's that I think are incredibly high-quality Apple. Being one of these that I've owned for over five years, the gains in this company have been significant. I'm up twenty two thousand nine
hundred dollars. Currently I've been extremely bullish on Apple investing in the company. When other people said that it was too expensive, or it was slow growing because I looked at one key characteristic that I knew was incredibly strong in this company and that is the moat. The mo of the company is the most significant. Deterministic aspect of any
investment and with apple. I have remained in the camp where I believe apples moat is incredibly wide incredibly wide and not only is it wide but it's always going in the right direction. The mo is growing over time. I've said apples moat was as wide as the ocean. I would say it was as wide as the Atlantic Ocean. Now it's becoming as wide as the Pacific Ocean.
The mo is already massive, but many new features that Apple implements many new iterative Developments, that they do further the size of their already, massive mode, and I believe they've done that. Again, this year with this developer conference, I see the mote ever-expanding for Apple once again. I don't see any weaknesses here. I don't see the mote shrinking between them and competitors. I see them taking a bigger step into solidifying and growing
their ecosystem. So as we're looking at this apple presentation, keep in mind, the moat and the direction. This is going now, having said that, let's take a look at the Apple Vision Pro headset. We have it right here. It has a lanyard that goes to a battery pack that you can put in your pocket and then it looks like a whitehead set. A lot of people have compared it to ski goggles or scuba diving goggles.
It looks like a VR headset. My impression of it is I don't think there's any way to make these type of headsets look super cool. So I don't think it looks particularly cool but I also don't think it looks bad for what it is which is a, a our headset. In fact, out of the different designs. I don't think this one looks particularly. Really bad at all. It looks like a pretty straightforward a our headset so you can criticize the design for what it is, but it is a simple headset.
It does look like a pair of ski goggles, but this follows the trend of every single Apple product. They're typically not that much different than the competition. It looks somewhat similar to the Oculus but it's all the little differences that really add up to make an Apple product better. For example, this one makes it so you can actually look through the headset. It can become transparent which is something notably different than the Oculus. You can't really look through that.
If you're wearing an Oculus, you have it on and you can only rely on cameras outside to see in front of you where as the Apple headset, has this weird opaqueness that goes to transparency. When someone enters the room that something pretty unique. I haven't seen this anywhere else. Now, early on in the presentation, they show some basic features of a, our headsets that were already used to being able to display multiple windows and different things and apps in front of you.
Sort of like, a multi-monitor desk, Top set up, nothing too special. There we've seen this already with many a our headsets now. Apple is working their ecosystem, making it integrate with the MacBook. You can drag apps from your MacBook up into the sky. You can view them right in front of you.
This is Apple leveraging their ecosystem, but again, this is stuff that we've seen in other a our headsets apple is supposed to be better, A step above all the rest and they can only do this first announcement one time.
One thing that they announced, that seems pretty cool is 3D audio and They call it spatial video so you can actually film something in 3D and then re watch it in 3D, they mentioned over and over again that you really can't see how impressive this is on a 2d screen, but it looks incredible once you have the headset on. That was something that I thought was a bit more impressive. Now, next, they showed off the movie portion of this.
Of course, you can watch TV and movies with your headset on. You can expand the display to look much larger than just a big screen TV. And what they showed here was the cinema mode where you can expand it to make it look not only like a big screen TV. TV, but like a massive gargantuan IMAX theater with the huge retina displays at this has. It's also supposed to be incredibly high resolution. So as you're expanding it, it's not supposed to be pixelated or look goofy.
Now, the presentation goes on and I think everything looks good so far, but then we have a company that gets invited on stage to show off their integration with the headset and this is where I believe things got impressive, we have Bob Iger on the Apple stage. What if all the things that we thought? Thought were impossible were suddenly possible, you could experience your favorite stories in unexpected ways. Unbelievable places. Could do more than just watch sports.
You could be at the game without leaving your home or be part of the action, like, never before. What if you could travel on a National Geographic Adventure from your couch, or if your imaginary friends weren't quite so, Nari. What if you could bring Disney World into your world? What if you could become a superhero and seek the answer to the ultimate question? What if Disney has a full integration into the Apple Vision Pro? And it does look impressive, just as this announcement was
happening. Disney stock, jumped two percent. But ultimately, what Apple's doing here is showing all the different various applications of their new product trying to make it useful for as many different audiences as possible. Now, the next part of this, they go into the build quality design of the actual product and like, you can expect from Apple, it's incredibly high quality. In fact, it looks like they spared.
No expense Apple had the goal of installing Instantly making this the number one talked about, number one hyped, a our headset and by far the highest quality and with their build design, they did accomplish that the surprisingly compact form encapsulates. An extraordinary amount of Technology displays cameras, sensors and even a high performance computer all kept cool by an efficient thermal design that quietly draws air through the system.
The design, of course, is highly customizable and Incredibly high quality. Now, they go on showing different. Actions of how it can be used in education and Technology development, different ways to visualize things. There's all different types of applications, obviously for leading a our headset, so we know by now that it's good, it seems really powerful. The design seems incredibly high-quality the chip for its custom design and Incredibly powerful.
It seems really good but then we get to the next part of this, which is the price point for the headset and it's three thousand four hundred and $99. You heard that right three $1500. Now, all say that, I'm what a lot of people consider to be an apple Fanboy. I really like their products. I like what Apple does, I always think that it's at the top end, they make the highest quality
stuff. But when you come out with a product, even one like the headset and you make it above 3,000 dollars, that is incredible. That's incredible. That is so much money $3500 after-tax. You're paying close to thirty seven hundred dollars for It just incredible what they're actually asking for this headset. That was much higher than my expectations. I thought it would be somewhere in the mid-2000s maybe two thousand two hundred dollars. I could see it around there.
But thirty five hundred dollars is a lot of money. In fact, the put that in perspective $3500 is so much money that that's how much I spent on my completely upgraded, specced out, new Macbook Pro. That I use to run this YouTube channel, to edit different videos too. Do a ton of business work on. That is my main daily driver, that's a Workhorse. So you're comparing this headset to one of their top end computers. That's the price point. They have a tad.
Now, when I think of Market fit and who this product could possibly be advertised for, it's certainly not the average American, the average American their household income is around 70 thousand per year. That's just normal. People making 60 to 80,000 per year, working your career. A job to spend three thousand five hundred dollars on a headset. Like, this is a major major investment that would take months of saving for the average person. So this rules out, 90% of
Americans right off the bat. So, you have a very small minority of people, making this amount of money that are willing to dish out $3500 for something. That's pretty discretionary, not something that they have to have. The only people that are going to be buying this in the median, household, income are going to be people. All that are huge enthusiasts of a are some people like this type of stuff more than they like a nice car. More than they like different forms of entertainment or
travel, they'd rather buy this. So to that Niche group, this is going to be something, they save up for and that they're willing to dish out some serious money for. But that is a small group of people that isn't every single person like they're trying to Market with with the iPhone. Apple has priced this out of the majority of Americans when I look at the other group that this product Would appeal to I think there's a couple different categories.
There's the enthusiasts, there's the Educators I think this product will be used in universities and schools to show 3D modeling and displays to their students. So I think this will be a very popular item amongst Educators and then there's also the developers developers will want to buy this item, they'll write it off as a business expense and they'll use it to develop apps and get a head start on when Apple comes out with another AR headset. That's at a more palatable price.
Point. So we have a niche group of enthusiasts, we have Educators and we have developers and we have anybody that falls into the incredibly High income category that has a lot of discretionary income as well. To some people $3500 is not a lot of money so they could pick up one as well. But this misses out on the huge Market that Apple typically goes for Apple doesn't want to carve out some niche market where they can only sell to a very small
group of people. They want to sell to as many people as possible and what I believe they'll do over time. Is what they've done in the past. They initially release a device like this, with the initial aim of having it be impressive and showing off the wide capabilities. That the item is able to do. This is almost like a ongoing advertisement for the new
category. They show the power of what Apple has designed and they eventually release a lower-cost version of it that more people are able to afford. They get to that point. Once they've gone through the initial release phase, so the Vision Pro, a our headset right now is not going to be a big game changer for Apple. It's priced at a point where the majority of Apple customers are unwilling to buy it. They're simply not going to pay for it and apple is aware of that.
I believe after this initial phase the initial release going through a year of iterative development and feedback, they will make it more accessible based on their feedback in terms of timeline. I believe they're going to go through this initial phase at this High entry price point. And then the next versions of this will have different price points. Some of which are much cheaper. That's when Apple I had to really push it to the
mainstream. Now having said all of that with all of the discussion, we're going to get around this Vision Pro headset. I want to restate one fact that I think is significant my investment in the apple and my thesis on this company has never once been reliant on the Vision Pro or apples. A, our headset being a success. Another way that I could State. This is, I believe that Apple will be a very attractive good investment. Even if the Vision Pro is an utter disaster.
A complete failure, even if that happens, is Company still a good investment, The Vision Pro and the Apple car. Those are potential growth paths. By Apple has, so many other avenues of growth, they have so many other levers to pull the monetize, their massive customer base and you can see them doing that. And again, when looking at this, we focus on the mode. Let's Take a look here. First of all, they announced a
new Macbook Air a 15-inch one. This is probably the most important device for normal users. Normal users of MacBooks. Do not need a They need the air. It has all the computing power, they would ever need and now they have a 15 inch version of it. So, I think that this will be an incredibly good selling product. It has all the things that you would expect from Apple. It's then it has good speakers, but they also mention the Apple
M2 Chip, they decided to mock. Intel, just a few more times. Comparing it against the first Intel Chip saying that. It's now 12 times faster. No wonder, they continually brag about their performance in comparison to Intel Apple also and their chip creating Endeavors created. The M2 Max, which is another Ultra powerful chip. They have it as the most powerful Apple chip currently, they decided to slap that chit in the Max studio.
That's the little. It's like the little dock, the little Hub, that's an actual computer now and the thing is incredibly impressive and they mention things that seem completely absurd. Like, it can hook up to 22 8K streams at a time. Apple is still making the most powerful computers for design for editing for audio for all the different Endeavors that professionals do. And they show that often illustrate.
That once more hair. They also brought back the Mac Pro. The Mac Pro is a beast of a computer. Nobody should be buying this for a simple personal use. It has stuff like 192 gigs unified memory. These specs are completely outrageous and it comes along with that typical outrageous price point, seven thousand dollars for that device. Again, these are used mostly for professionals companies, buy
them as business write-offs. Now, as I'm watching this again, I'm asking myself as Apple's moat getting wider. Or is it shrinking in my judgment every single time? I see them come out with leading devices, which are the best in their given category. I believe the mo is widening for this company. I think it has a stronger mote
today than it did yesterday. The company continues to iteratively develop and stay ahead of the competition in both their chip, making their design, the cohesiveness of their products and the power of them. Now, I think that Apple's Hardware division is second to none, they make Hardware, that's better than any other competitor by far. But I think what actually gives Apple the most significant moat is their integration of their software into their Hardware.
Forming, what is called an ecosystem? Describe the Apple ecosystem, I want to reference a video. I did back in 2019, this was four years ago, talking about Apple's mode. In this video, I described apple as a tent in the ground. Pretend that you're going hiking out in the woods and you have to stake down a tent. You're going to be hiking and setting up camp in a place that has severe wind gusts. 20 30 mile an hour wind gust. That is the competition that is capitalism.
There is always someone trying to take your mode away. Someone trying to steal the economics of your business. And what Apple does is they put down a lot of steaks. The stakes in the ground are the ecosystem of the company. You have one steak which is the iPhone. Then you have another one, which is the MacBook, then you have the iPad. You have the Apple watch, you have all the various Hardware products, but then you have other things that they're trying to address.
Add into their ecosystem, more Stakes to keep their users set in stone so that they don't leave to a different operating system. They introduced different things like the Apple savings account. That's one more thing to keep you staked into the Apple ecosystem, they added in iMessage, they made it so that I message worked better with other Apple devices than it did with Android. That is another stake in the ground to keep you in the ecosystem. The same with apple photos, the
same with apple wallet. Now, of course, there's other companies that try to do the same thing. They try setting up a tent, but unfortunately, they don't have as many stakes in the ground. So, when competition comes, they end up getting blown away. This is Intel a company that simply does not have the same moat and ecosystem of apple.
As soon as someone came along and made a slightly better product, Intel stock price, got hammered, so you're looking at companies here and gauging, how did they keep their customers long-term with apple? This is always been a point that I focused on. And what I see is them. Tingly adding in more and more steaks and some of the biggest Stakes, they just recently added in our regarding the phone app and messaging. They added in some cool
features. Like now, you can have an image of someone calling you to make it more personalized. This isn't exactly a huge competitive Advantage. Other companies can do this as well, but it's a fun little feature. They added in collocate, so you can now have live voicemail transcription. You can see what people are saying.
As they're leaving. You voice messages and then you can decide then to pick up. This is a feature that I really We love because I do not answer calls of unrecognized numbers. But again, these are flashy features but I don't think they're massive stakes in the ground. These features in and of themself, I don't believe really grow apples mode another feature.
That's cool and it adds to the Apple ecosystem slightly is leaving voicemails that are now video messages where I believe that Apple has the most to gain from their ecosystem Advantage is in messages. This is already been highly debated, but apples messages creates an Crowd. Once you're part of that and if you're an Android User, you are on the outside. Apple users have different functionality. Android has the green bubbles that come in slowly, and they seem disjointed from the
conversation. And Apple has used this to their advantage, knowing that it is a massive part of their ecosystem. It is one of the big stakes in the ground that keep people on Apple's ecosystem out of Androids, and they've added in a lot of specific functionality like this new check-in feature. King it so that you can tell people when you're going to arrive and they can get specific information on your traveling. So they know right? Where you are that feature does
add to the Apple ecosystem. It's another stake in the ground, but it's not as significant as this new one. This new one, I believe, is a much overlooked feature. People are just going to look at this and kind of scoff at it and move on to the next thing. But I believe it's one of the most significant updates in this entire developer conference. It's called stickers. Here's what Apple stickers are. Let me show it to you. By tapping the plus button.
And then tapping stickers, you'll see the brand new drawer. That brings all my stickers into one place. Like my recently, used stickers from emoji and any sticker packs. I've downloaded and we've made all the Mochi into stickers. I can peel and stick an emoji sticker. And I can rotate and resize it to You can literally grab a sticker from the tray there at the bottom, you can drag it to wherever you want on the iMessage feed, even in group messages.
And then you can twist and expand it to different sizes, specifically on the messages you want. And this is something that a lot of investors. Don't give enough credit to having these seemingly insignificant almost frivolous. Social media functionality is a big deal. People use these all the time. Look how popular memes are. Look how popular emojis are. Look how popular social media is within messaging.
Expanding this toolkit of user messaging is significant, people want to be on the In Crowd and to do that. You have to own an iPhone. Best of all, you can now react to messages by adding stickers directly to any bubble from the tap back menu. And the fun doesn't stop in messages. We've added stickers system wide, so you can access your full Sticker Collection in markup and anywhere you can access Emoji today, including in
third-party apps. I believe that this feature may be overlooked by most, but it is a massive feature. It brings Apple closer to competing directly with social media companies because you have more ways of expression and social media right within apples ecosystem. And there we have yet. Apple putting another stake in the ground, holding their tent down and increasing their mode.
Now, one interesting thing about this entire presentation is Apple really didn't mention a. I at all, they mentioned slightly some machine, learning some language. Modeling when it came to autocorrect that was where they really mentioned that, they're using a lot of machine learning. But that was basically it and they didn't repeat the term aii over and over again. Apple knows that most people don't really care all that much about AI.
All people want is something to work really well, and that's what they focus on the end-user affect. A lot of companies are focused on trying to boost their stock price and show how involved they are on the latest thing. Apple focuses on what users want apples trying to put more.
Stakes in the ground by having a new Journal feature, where you can Journal out your entire life and tie it into videos, timelines Maps photos, everything who knows, how successful Journal will ultimately be, but this is another way to keep people tied into the Apple ecosystem.
If you start journaling an apple, that's One Less Reason To Leave Your Journal halfway through and switch to an Android. And when it comes to, what I believe is the weakest part of this presentation, I think I'd have to give that to the iPad portion. All they really said, is that they're making new widgets, and they have A new home screen that I don't think is particularly all that great to me, the home screen, just looked like a photo with the time on, it doesn't seem like anything.
That revolutionary nothing really to get excited about. It didn't really change my opinion, one way, or the other. In a more exciting announcement. Apple did have their new Mac OS, which is Sonoma apples, working on changing the widget drawer, which I honestly believe is a very weak point of the operating system. The widget drawer just seems messy and cluttered I might use it for a couple apps like the weather app. So I do like what they're doing, trying to improve that aspect of the Mac.
They announced a new toolkit for game developers to be able to develop upon them. This is a weak point of Apple. Most people do not buy their devices for gaming purposes and they're really trying to get into this category. They want to make it so that their devices can be called gaming devices. But I still believe they have a long ways to go to be able to accomplish that, but I think they had more significant announcements when it comes to Safari Apple wants you to use Safari.
They want you to move from Google Chrome into Safari when you're using. Devices. They've improved the security of it, making it so that it actually locks Incognito Windows after browsing if left on idle and they added in a new password manager, there's an entire category of product. And fact, a lot of companies use subscriptions to different products that are entirely centered around managing passwords.
In fact, a lot of companies charge anywhere from four to seven dollars per month, just to manage your passwords and even more money to manage your family passwords. Now, apples building out a tool that could potentially Replace those type of products. The Apple password manager that
works with your entire family. Now, all of these features again seem minor but they add a little bit to the Apple ecosystem and I still think there's a decent chance to Apple can continue to take market share from chrome into Safari now. Moving onto the watch. They announced a couple new features here. One's a new way to measure your
overall health and strength. When doing exercise, which is something that I really have never heard of until now using power heart rate and Motion data Apple watch will estimate your functional threshold. Power known as FTP which is the highest level of cycling intensity that you could theoretically maintain for an hour. That doesn't seem like a huge game changer, but it does seem interesting. The other thing that they went on and on and on about with the watch was hiking, this is where
they made a lot of adjustments. I don't know how big the market is for hiking, but it seems sizable enough for Apple to focus on it for a decent on a time. They Have trailheads, they now have different map locations. They now have different heights for your hike so you can see your altitude and the expanded this into work out apis where now you can use the Apple watch to do even things like improving your golf swing. All of this stuff was cool, but
it's not a game changer. These aren't things that are really going to move the needle all that much. With the Apple watch people that already have their mind made up on it are likely going to be unchanged by these additions. The big thing that Apple still needs to develop in their watch is the glucose monitoring. And that would be a massive Game Changer. Of course, they don't have it yet, they didn't announce it here.
Now, the presentation went over a lot of different things in a lot more detail, but that's basically the gist of it Apple added, in more stakes in the ground. They widen their moat and they announced the new feature, which is the AR headset which is going to be sold to a very Niche audience to start because of its price point.
In terms of what investors are going to be the most disappointed of, I believe it's going to be the headset price that's going to get the most negative attention, who will ever be able to afford that headset. Looking at it long term, I don't think that's a problem. I think Apple will come out with more affordable versions down the road outside of that, Apple Still Remains with an incredibly wide moat, which should be the central thesis for owning this
company. You can try to look at next year's earnings and next year's PE ratio, but that really hasn't been the best gauge a couple years ago. Apples P/E ratio was 20 to 25, the company remains around the same and the stock has been up 100%. So Apple has grown cash flows much, much faster than the market. Anticipated for me. Apple Still Remains a hold outside of Apple.
There's one other company I want to talk about in my portfolio that recently reported earnings and this entire category of company has been doing terrible recently. It's the retail category. So in my consumer pie, we have CostCo right here. And this is the only physical retailer that I own. I don't own Lowe's or Home Depot. I don't own Target. I don't own Ulta. I don't own Dollar General or any other retailer. I decided to pool all of my
money. That would go into retail and put it into Costco, and this is frustrating for a lot of investors because Costco stock has been doing really well and the stock price never seems to drop. Even though the company is optically, expensive cost, goes up, 14 percent. Year-to-date the company's done. Okay, it's beat the S&P 500. So far this year Target on the other hand is down 14 percent. Year-to-date Dollar General. Generals down a staggering 36 percent.
Year-to-date Ulta is down 10 and a half percent year-to-date. And then we have Walmart which is holding up better, but it's still only up four percent, year-to-date lagging behind the major index. So why is Costco doing so much better than other retailers. I don't believe that this is a result of happened chance, or luck. The reason that Costco continually does well, is
because of its results. The company has continually operationally good results better than other retailers and their specific reasons specific things. Do that drive those results. All of these companies have to deal with something called shrinkage. And what we're talking about here is not the type of shrinkage that's popularized by Seinfeld. The women know about shrinkage. What do you mean like laundry? No. No, that is not the shrinkage.
We're talking about hair. Shrinkage is a term used in retail to describe product loss. Losing out on valuable merchandise. Either through employees stealing it customer stealing it, or it's simply being lost in transit. This has been such a massive issue in the retail category that it's hitting the bottom
lines of these companies. Luckily, we can take Dollar General. For example, here's the CEO on the earnings call and he describes a problem, they're having these were partially offset by an increase in shrink. Markdowns, and inventory, damages, as well as greater proportion of sales coming from consumable categories, right there, he mentions that they're seeing an increase in shrink products being stolen or lost. Now we have the Target, CEO, and their last earnings call Beyond safety.
Concerns were standing shrink rates are putting significant. Are on our financial results, more specifically based on the results we've seen so far this year, we expect that shrink will reduce profitability by more than point five billion dollars compared with last year. He just said, that product, shrink is going to impact targets, bottom line by 500 million dollars massive impact from shrink.
And while we're doing everything we can to address the problem, it's an industry and Community issue that can't be solved by a single retailer, that's why we're actively. Ting with legislation law enforcement and retail industry Partners to advocate for Public Policy solutions to combat organized. Retail crime. People are going into targets and stealing products, whether this is Target's fault for having a messy store having items off the shelf not having good security.
Or it's a product of the communities that they operate in. The bottom line is investors profits and Target are being robbed by thieves. Walmart said in their last earnings, call on shrink it is a factor. And we've said in the past, It's been challenging for us. It's been challenging really for all of retail. So we're going to actively
manage this issue. We always do we always have and we're going to continue to take steps that are reasonable and required to make sure we're protecting our customers and protecting our Associates and protecting our assets and inventory. We know a lot of communities have been affected by this but it's also important to note that retail can't solve this issue. All on its own it will take communities stepping up and enforcing laws That are able to bring the issue back under control.
Walmart has a huge problem with shrink Ulta set in their last earnings call. Now, similar to what other retailers have shared, we continue to see pressure from inventory, shrink this quarter. And we have updated our full-year guidance to reflect the Persistence of this trend while shrink is a result of various factors theft
specifically organized. Retail crime, especially as we've seen a rise in violence and aggression during these incidents, our first priority is the safety and well-being of our It's and our guests. We are committed to ensuring a safe working environment and investing in fixtures training, support and structure to increase Staffing and security to aggressively address this concerning Trend. All of these companies are dealing with shrink, in many
cases. It's violent criminals going in and robbing these stores, but then we finally have Costco's earnings report call. This is what Costco had a say this last quarter. Our shrink is intact. We haven't seen any major change in trinka JH. It fluctuated a couple of Three basis points up, really before covid, as we rolled out self checkout and since then it's
come back down a little bit. And so it's been a very tight range and we've been fortunate in that regard while every other major retailer is worried about the safety of their employees. Talking about violent, criminals and increase in Theft Costco says that. There's literally been no change. They don't mention any violent incidents. And they don't mention any change in shrinkage. Now, how could this be? What could make Costco different than the rest of the pack?
Well, I have a couple simple observations that I think heavily impact, why Costco stands out from the rest. The first is a simple layout of their story. If you go to a Costco, you notice they have two basic doors. One of them is the entrance and the other one is the exit. They check all receipts at the
exit. So it would be very difficult to steal from a Costco. You'd have to sneak by the receipt Checker. If you did that, they would track down who you are through the camera, and they would ban your membership. So you can never buy. Something from Costco. Again you would never be allowed in the warehouse ever again a punishment in my opinion that would be worse than jail time but the receipt checking is not the only thing that mitigates theft and Costco's.
The other aspect is everything they sell for the most part is huge, its massive, large quantities big boxes. This would be difficult stuff to still consider the logistics of trying to really still anything from a Costco. Can you really sneak out of the store with one of these boxes? Can you really go unnoticed loading? Things in the car you might be able to but it would be very, very difficult and thieves realize this. They're looking at potential victims of theft and they go to
the easiest victim possible. Costco is not the easiest victim. The only Thief that goes to Costco is one that wants to make things a lot more difficult for themselves. And then finally, the last aspect that I'd highlight is a major reason that Costco's different from all of these other retailers is their membership. Based system.
Most retailers, you can go in and just buy a A gallon of milk if you want but the way the Costco initially made their business was focusing on which customers, they did not want, not which customers they did. Want Costco didn't want just anyone to be able to shop at their business? They wanted loyal customers that pay a membership for the privilege to be able to shop in their warehouse.
If members are not willing to pay that membership, they're not able to shop at Costco. This in and of itself is a natural filter against criminals. They're far, more likely to go to places where they don't have any The membership base, the ones that they do. So when I get questions about other retailers, whether it be old te or Dollar General or Target, or whatever, retailer has recently sold off the questions of whether or not I'm
going to buy it is likely. No, I chose Costco because I think it's Superior to these other retailers. Now that's going to be it for this episode. If you enjoyed this style of content, make sure you subscribe to the channel. I'll have more content out soon. If you want to join the patreon, you can join today with a free one-month trial, so, check it out.
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