What do you work for?No. 128

Henry Ford — Beyond "a Faster Horse"

When Henry Ford began, automobiles were toys for the rich. His revolution was not an invention but a change of "for whom." Build a car working people can afford — everything was back-calculated from that purpose. The 1908 Model T: assembly-line production slashed build time, and the price fell from $850 to under $300.

In 1914 he stunned the world by doubling workers' pay to five dollars a day — wages that let his own workers buy his own cars, uniting maker and buyer. The famous line attributed to him: "If I had asked people what they wanted, they would have said faster horses."

This does not mean ignore customers; it is the insight that customers can articulate only desires along existing lines. The true desire — to move cheaply, quickly, freely — lies beneath the word "horse." Those who answer the deeper want, not the surface request, create the market itself.

What do you work for?

— Tomoki Nagano, Chairman & CEO, INSTINCT BIO TECHNICAL COMPANY (NASDAQ: BIOT)

About the Company

The Nasdaq-listed company where the author serves as Chairman.

This series reflects the personal views of the author. It is not an earnings forecast, a valuation of any security, or a solicitation to invest.