Kogan puts a million dollars on the line for publicity
Ruslan Kogan has hit the headlines in the business world again, laying down a challenge to JB Hi-Fi worth…One Million Dollars.
In his blog, Kogan lays down the gauntlet with a wager, which probably cannot legally eventuate, that if there are any Apple hardware products still for sale by March 14, 2014, he will give JB Hi-Fi CEO Terry Smart a million clams, presumably in unmarked dollar bills packed inside a platinum suitcase.
“When Apple sells its products through third party resellers, it sacrifices margin on the product so that the third party reseller can make money too,” Kogan writes in his blog. “But, consider this; if iPods, iPads and MacBooks were only available in Apple stores and their online shop, would it significantly affect the sales of these products in 2011? What about next year, or the year after, as more people turn to online shopping? What happens when Apple realises that it can make more money by selling direct (without sacrificing any of its margin to resellers), than by selling through middlemen?”
You would think it’s a consideration a massively successful company like Apple would have looked into already, but Kogan sounds like he believes he has just handed them a eureka moment.
“When Apple dumps their third party resellers, they will be able to sell products cheaper and make more money,” Kogan continues. “Customers will benefit and Apple will benefit. Win-win situations like this invariably create change. Apple already has the wheels in motion to make this happen by tracking when people visit their website prior to purchasing their products from any store and by logging the email addresses of their customers through iTunes.”
Steve Jobs must have been glad when he logged on to Kogan’s blog, as he surely does everyday, and saw these pearls of wisdom. Kogan is so confident Apple will desert retail, he’s had his lawyers draw up a contract for the bet in a legal document with bonafide legal speak, view it here.
Kogan’s fans responded with typical adoration, with many comments on his blog piece. User ‘Heretic’ writes “Charlie Sheen just called, he wants to buy some of the stuff you've been consuming.”
‘John’ says “more bleating by the goat…very sad if all you can do is attack others for no real reason.”
“I'd suggest you need to get new lawyers,” said another poster, “the wager isn't enforceable, so it's not worth the paper it's printed on.”
Wise words came from user Chris Hore, in a comment that summed up what the bet was really about: “Even if you lose you'll get $1m+ worth of publicity from this, well played sir!”