Category: branding | 品牌推廣 | 브랜드 마케팅 | ブランディング

The dictionary definition of branding is the promotion of a particular product or company by means of advertising and distinctive design.

I have covered many different things in branding including:

  • Genesis – the luxury Korean automotive brand
  • Life Bread – the iconic Hong Kong bread brand that would be equivalent of wonder loaf in the US
  • Virgil Abloh and the brand collaborations that he was involved in
  • Luxury streetwear brands
  • Burger King campaigns with Crispin Porter Bogusky
  • Dettol #washtocare and ‘back to work’ campaigns
  • Volkswagen ‘see the unseen’ campaign for its Taureg off road vehicle
  • SAS Airline – What is truly Scandinavian?
  • Brand advertising during Chinese New Year (across China, Hong Kong, Singapore and Malaysia)
  • Lovemarks as a perspective on branding
  • BMW NEXTGen event and Legend of Old McLanden campaign
  • Procter & Gamble’s Gillette toxic masculinity ads
  • Kraft Mother’s Day campaign
  • Kraft Heinz brand destruction
  • Porsche Design in the smartphone space
  • Ermenegildo Zegna
  • Nike’s work with Colin Kaepernick
  • Counterfeit brands on Instagram, Alibaba and Amazon
  • Gaytime Indonesian ice cream
  • Western Digital
  • Louis Vuitton collaboration with Supreme
  • Nokia
  • Nike Korea’s ‘Be Heard’ campaign
  • Mercedes SLS coupe campaign
  • Brand collaborations in Hong Kong
  • Beats headphones
  • Apple
  • Henrion Ludlow Schmidt’s considerations of branding
  • Cathay Pacific
  • Bosch
  • Mitt Romney’s failed presidential bid
  • Microsoft Surface launch
  • Oreo Korean campaign
  • Chain coffee shop brands and branding
  • Samsung’s corporate brand
  • North Face’s brand overeach in South Korea
  • Mr Pizza Korean pizza restaurant and delivery service brand
  • Amoy Hong Kong food brand
  • Chevrolet Corvette ‘roar’ campaign promoting a build your own car service
  • Trends and fads

    Why trends and fads?

    Why trends and fads came about as a post, was that I was scrolling on my LinkedIn notifications on a Saturday (I know, I know I should keep my life free of this crap on the weekends.) Creative Review were talking about how trend forecasting had become rusty, but that got me thinking about did they understand the difference between trends and fads?

    A good deal of what I see described as trends are fads, which then got me wondering about how do I help people differentiate between trends and fads.

    Why has it become harder to differentiate likely trends and fads?

    I would argue that the difficulty in differentiating likely trends and fads is down to a few reasons.

    • The nature of culture has changed. It has become massively parallel in nature. This has in turn impacted trends
    • Culture has become elongated in nature.
    • The changing nature of culture means trends surface and submarine again over time.

    Mass to massively parallel.

    Culture has become massively parallel. Culture and its nature has been transformed over the last century. There were a few sub-cultures at best that mattered at a given given moment in time.

    The idea of the ‘teenager’ which was the first attempt to carve out a new generation was done in the post-war affluence of America and latterly European countries, Japan and Korea as economic development took hold. We might use different language now, but teenagers were the engines for the sale of goods and services:

    • New music
    • New spaces (gaming arcades, fast food restaurants, coffee shops, instant messaging platforms, social platforms)
    • New fashion looks (mods, rockers, greasers, ravers, emo, gorpcore etc.)

    At the time, the mass media helped facilitated the propagation of a mass culture. A few music publications, radio stations, newspapers and TV stations could make a break an artist. We can see this over time with the power of Johnny Carson, Merv Griffin or Ed Sullivan in the US, Gay Byrne and Gerry Ryan in Ireland or Top of the Pops and Pete Tong in the UK.

    Ed Sullivan introduces The Beatles.
    Paul McCartney remembering the 1964 show.

    However a combination of economic improvement and technology saw the mass media broaden with countless publications, TV channels, radio stations, websites and social channels until it is no longer ‘mass’ in nature.

    Add to this, the world got smaller. Travel while still expensive became cheaper from the 1970s and 1980s onwards allowing more people to discover culture from elsewhere. And this was despite a massive surge in the price of oil due to troubles in the Middle East. So trends and fads moved around the world. Liverpool lads brought the ideas of sports casual dress from Spanish and French department stores, Japan borrowed various parts of Americana and streetwear, hip hop went around the world.

    The connectivity from the worldwide web put this in overdrive. A world of culture opened up making things massively parallel, which allowed people to pick and choose their own cues. These choices gave us massively parallel culture and resulting trends.

    Culture has become elongated in nature.

    I have friends (and associates) in their late 50 and early 60s who DJ, surf, skateboard and do martial arts. These were people who remember club nights before house music let alone EDM, who can remember the first skate parks being built in the UK and knew of Stüssy because they were part of the original Stüssy tribe of interesting folks formed by Shawn himself.

    People who might listen to Radio 4 on occasion, but are still cooler and more culturally relevant than many teenagers. Probably more culturally relevant than their college age kids.

    This cultural elongation is something that we’re starting to see gen-z obsessed agencies. A good example of this is ZAK Agency’s Learn To Time Travel white paper. Part of it has been down to life stages happening later for each generation; or not at all.

    • Moving out on your own.
    • Settling down.
    • Having children.
    • Buying their own home.
    • Being able to afford to retire.

    Part of it is down to the world norms changing. I seldom have had to wear a shirt and tie, or suit to work. My Dad wore a tie right up until the mid-1980s to work, because that was expected of him. He wasn’t a banker, but a shipyard worker. Athletes can potentially stay in peak condition for longer, all made possible by the modern world.

    Despite what we believe about technology usage, for those who are 70 or younger, income influences tech adoption as much as age related knowledge. Giving all of us access to as much culture as we can mainline.

    Fads

    If you hear the phrase ‘TikTok trends’ that are fast-changing, it’s a clue that it’s likely to be a fad unless by some blessed miracle it sticks. In the 20th century, fads were often easier to spot and the 1970s in particular were a gold mine for the fad spotter.

    Fads appear, go large and then disappear. They are ethereal in nature, rather like most TikTok trends. The Pet Rock is a prime example with its swift rise and demise.

    Pet Rock

    Northern California-based copywriter Gary Dahl came up with the idea of a pet rock. Essentially adhesive googly eyes attached to a rounded pebble that might feel pleasing in your hand for skimming across a body of still water like a lake. Dahl’s insight came from sitting with friends in a bar and listening to complain about the challenges of pet care.

    Dahl started off his project by writing a satirical pet care manual for a rock, based on the kind of care guide a veterinarian might have for a new dog owner. This included on tips for when your rock was feeling anxious.

    The rock came with the instruction book for care, it sat in a nest of long wood shavings inside a card carrying crate with a handle on top and seven vent holes on each side.

    gary-dahl-2

    Dahl put his product into the market in August 1975. Dahl was apparently selling 10,000 rocks a day and it became a gag gift over the Christmas period with estimates on sales as between 1 million to 1.5 million genuine rocks. By February 1976, they started to need discounting. Dahl ploughed his profits into opening the Carry Nation’s bar in Los Gatos, which is still there.

    The Pet Rock was clearly a fad, yet it did inspire my junior school art teacher to get us to collect stones from a visit to the beach, stick googly eyes on them and varnish the whole lot. Some were brought home and the rest sold at the school fair. Dahl wasn’t able to patent his idea. As far as I know around 2010, someone started an abortive business replicating Dahl’s packaging design and rocks.

    Dahl built his freelance copywriting business up into an agency that produced radio and television ads for local businesses including wireless providers, technology firms and dot coms. The reason for this was that Campbell had been living in the Silicon Valley area as it grew up into what we know today. Dahl even wrote the For Dummies guide on advertising in 2001, which is still available today and is a good primer on the process. Dahl passed away in 2015.

    Trends are resurgent, surfacing and submarining over time.

    Take the idea of cocooning in our own soundscape as an example of a resurgent trend. If you go on the public transport headphones or AirPod type earphones are ubiquitous. If you go and work in an office, you will see a similar set up. Prior to the rise of the AirPods it would have more likely been Sony or Bose over-ear headphones rather than wireless AirPods.

    Back in the early 1970s, my Dad took the train down to London while listening to a collection of cassettes he’d made of his record collection. The trip was one he occasionally made for the shipyard where he worked at the time. It was a long slow train journey. We had a bulky luggable cassette player similar to the one below and he wore a pair of headphones bought in Liverpool that looked like sturdy ear protectors. The tape machine was more designed for basic portable recording such as a manager recording a memo to be typed up. They were occasionally pressed into service in a similar way to my Dad’s usage.

    Old personal stereo
    Around about the same time, luggable stereos were being made by European manufacturers including Philips and Grundig. Soon after that Japanese manufacturers like Sharp, Sony and Panasonic released their own versions which were very successful. These were cemented into culture by young Americans who valued their portability and bass response.
    Beck at Yahoo! Hack Day
    Beck at Yahoo! Hack Day with a boom box

    Boomboxes weighed a lot, Sony provided an alternative with the Walkman and eventually the Discman. These were portable cassette and CD players respectively which offered personal listening with headphones. These were briefly joined by MiniDisc players.

    Around about the time when the web started to take off, you had early MP3 players such as the Rio series of machines and the CreativeLabs Nomad. But things took off with the Apple iPod, offering a new level of personal audio freedom.

    San Fran - ipod advert & Jim

    Eventually a confluence of the smartphone as digital Swiss Army knife and BlueTooth wireless standards provided us with our current personal audio freedom.

    Cocooning is just one example. As far back as the post-war era we have seen military surplus clothing go in and out of style. Thrifting has taken a similar route with it driving the iconic grunge look of the early 1990s and the Dpop shopping of today’s young people.

    We could quite easily come up with a list of trends that never die. The annual trend reports tweaking the relative volumes on these trends over time to match economic and socio-cultural changes.

    More related content here.

  • Morizo and more things

    Morizo

    Akio ‘Morizo’ Toyoda, of the Toyoda family who made their first fortune designing automatic textile looms in the early 20th century and their second fortune as the founders of Toyota. During the week Toyoda-san is the chairman of Toyota Jidōsha kabushikigaisha. But in his spare time he liked to do circuit racing under the name Morizo. At first, the Morizo name was to keep his moonlighting racing of the radar of Toyota board. But recently it has become an asset, with Toyota and its GR performance brand creating some of the best drivers cars available.

    Toyota have started to use his natural enthusiasm for the company’s benefit. The Lexus LBX Morizo RR is currently a concept car that sees a baby Lexus LBX SUV benefit from the mechanicals of a Toyota GR Yaris.

    Although talk about this as a Morizo only concept, it feels like the company might be feeling consumers out to possibly put this into manufacturing. If they did this, it would allow the company to take advantage of the GR Yaris-only components currently made and use them more widely.

    The Criterion closet

    Criterion as a publisher of DVDs and Blu-Rays is a badge of quality. The closest equivalent in the UK would be Curzon who bought Artificial Eye a number of years ago. One of the things Criterion do is video taste-makers who are allowed to take away some of their favourite films away from the company’s stock. Here are a couple of my favourites.

    William Dafoe

    Hideo Kojima

    Watch trends

    While much watch collector videos know feel more like Bloomberg reporting on a commodity because of the rise in the secondary market, this wrap-up strikes a nice balance. Some of the factors mentioned in this review appeared in my 2023 wrap-up and here.

    Mexican street culture

    If you had uttered those words to me before this week, I would have immediately thought of saints festivals, the day of the dead and the Chicano culture that grew out of Mexican communities who emigrated to the US. But there is so much more in Mexico itself as Refinery 29 shows in this film.

    The 50 French words test

    You can imagine the brief that came down to this government department in Quebec: make more English speaking visitors and businesses come to our province. The insights being along the lines of most English speakers don’t feel confident dealing with a foreign language, so how to do demystify French.

    I don’t know who the Ministère des Relations internationales et de la Francophonie used, but they deserve every penny of their fee with this film.

  • Brand clichés

    Brand clichés have been in the background of my career in agencies, all the way through. I am sure that brand clichés will continue long after my career is over.

    I started off writing copy for technology clients. Short pithy marketing copy and longer thought leadership pieces, opinion editorials and white papers.

    See 7 States from Rock City

    Back when I first started working on technology, media and telecoms brands we had a raft of clichés. These brand clichés were in the product and vendor descriptors.

    Broken technology marketing

    These weren’t the most sophisticated brand marketers. Marketing was sales support. There maybe some brand equity at the corporate brand level. But that was often down to user passion, rather than skilful brand marketing. You can still see that mindset at work in ingredient brands like AMD, Broadcom, Intel, MediaTek, NVIDIA, Oracle or SAP.

    marketers
    Created using Dall-E

    Part of this was down to history, marketers were often engineers who had been promoted out of pre-sales consulting. Their corporate and product communications was often run by people who were ‘vested’ having worked early on in the companies life in an admin role. A personal assistant or an office manager, probably with a liberal arts degree from a university or community college.

    The modern iteration of this dearth of marketing experience is the broken adtech space and a legion of growth hacker profiles on LinkedIn. Once you understand this broad brush picture of the technology sector the brand clichés start to make sense.

    Technology brand clichés

    Apple PowerCD

    A leading… – we compete in the following market for sector, but there isn’t anything to separate us from our peers. High fives happen in the office if we end up in the right part of the Gartner Magic Quadrant reports.

    Best – Someone somewhere said that they thought we were better than our competitors based on their particular view at that time. We’ve paid an analyst firm a large amount of money for digital reprints where they said it. We will give you this as PDF if you give us all of your personal information and opt-in to being in constant contact with our marketing automation application.

    Best-of-breed – we cobble together bits of technology from a number of sources, all of which are good. We usually have competitors who are vertically integrated and do everything reasonably competently in-house. It tells you more about market dynamics than it does about benefits. See ‘end-to-end’ used by vertically integrated businesses.

    … compatible – usually a hygiene factor in areas were there are clear open standards like email and web browsing. It used to be that back-in-the-day a peripheral that was Mac compatible would cost double the price of PC compatible products. USB was a major change in this. Where there aren’t open standards, then beware of ‘lock-in’ where you get bled dry by vendors, rather like the Mac users of old. A second aspect of compatability is where vendors built super-standards on top of the ‘open standards’. Adding additional features over the top, if they can get their client to adopt them it can increase lock-in without having to go to the hassle of creating a completely bespoke standard. For example, POP and IMAP email doesn’t support being able to delete an email after you’ve sent it, unlike sending email from and to a Microsoft Exchange email server.

    Cutting edge – will be obsolete, but not just yet.

    Disruptive – we have an incumbent competitor and we hope you’ll change for the sake of change.

    Enabler – we provide part of what you need, but we know that the majority of IT projects fail to reach the objectives that businesses have in mind. A classic example of this truth would be the NPfIT (national programme for IT) done by the NHS, Post Office Horizon project or most implementations from the likes of Autonomy to Adobe Workfront.

    End-to-end – usually followed by solution or solutions provider. This was trying to make a virtue out of vertical integration of the corporate parent (think about the way HP used to do everything from servers to printer paper), in a market that was likely orientated towards horizontal integration (a classic example would be Windows running on an Intel or AMD processor, or Google Android running on a MediaTek or Qualcomm processor). The reality is that it’s barely a feature, let alone a benefit.

    Fastest – the devil really is in the details of fastest. The measure of speed depends on what you want to measure. In technology real world speeds are difficult to capture and you can’t benchmark across systems. Way before Volkswagen’s Dieselgate scandal chip companies like Intel and Nvidia were routinely doing conceptually similar design tricks to recognise and optimise for benchmarking tests, often to the detriment of real-world use.

    First – this would be then followed by a really arcane descriptor. For example ‘Product X is the first tree-based database structure in cloud services that supports MUMPS database language instructions aimed at industry 5.0 applications’.

    Innovative – we spent money on design and putting things together. Appreciate it. Often used to support disruptive.

    … ready – usually this is about a technology that might be in the news but is years away from the standards being developed being ready for commercialisation, or the standards may not even exist. In 2023, we saw several blockchain based companies talk about their technology being metaverse ready. You can read here about how far away and uncertain that statement is. The reality is often that this is pure hype.

    Scaleable – it will work with more of our stuff. It might even work with other people’s products. If by any chance your business grows, we want to sell more stuff.

    Solution – a mix of web hosting, other vendors products, our products and consulting time as a kludge to make things work. Think of every collaboration in streetwear and luxury fashion that was a dog’s dinner – this is exactly the same, but in IT.

    The world’s leading… – this might be supported by either market share data for one quarter’s sales, or a number of analyst reports. Basically ‘a leading…’ but with a bit more confidence. Usually you will find that the brand has some visibility within their market sector and is likely considered. So when green tech company 1pointFive announced an agreement with the Boston Consulting Group (BCG) – BCG was described as:

     Boston Consulting Group (BCG), one of the world’s leading management consulting firms

    1PointFive and Boston Consulting Group Announce Strategic Agreement for Direct Air Capture Carbon Removal Credits

    Yes business people are likely to have heard about BCG, but that doesn’t mean that they would prefer to hire them over McKinsey, Teneo, Bain, Accenture etc.

    Value-added – a synonym for expensive and complex.

    Bland brand clichés

    Now the key ones I see, tend to be throughout the brand book. A good proportion of the reason why these have become brand clichés is down to over-use. In a world where brands are the above average equivalent of the children in Lake Woebegon.

    Authentic – we do what we say (most of the time). Unless it has implications for our bottom line. Often used interchangeably with principled and brand purpose. The latter two often look at higher order ambitions than the business.

    Dedicated – more about the focus of the business than the quality of the product or services. Through to the 1980s in western countries, there were companies called conglomerates which were a mass of disparate businesses. Originally they may have started off as looking to integrate businesses into their offering. So if you sold hardware to businesses, you might want to provide software that those businesses would want. You might help them put it all together, which then meant you had a professional services business. All of this doesn’t come cheap, so you might add a finance business to help them spread the payments rather than an overly expensive bank loan. All of a sudden you are a conglomerate. Being a conglomerate makes it harder for you to focus on what you do well. Being dedicated means that in theory you have that focus.

    Helpful – We do enough so that you will probably do business with us again.

    Passionate – we behave in a professional manner. Basically they weren’t the guy in the coffee shop I went to on Saturday, where he let us wait in a queue to be served while he finished rolling out five cigarettes. He then asked ‘what do you want?’. He demonstrated authenticity, but not dedication or helpfulness.

    Trusted – customers pay us for what we do. Some of them do this on a repeat basis.

    It’s even been spoofed in ‘The Bland Book‘ (PDF).

    That’s me for today, happy St Patrick’s Day to my fellow Hibernians out there.

    St Patricks Cathedral
  • FOOH (and John Holmes)

    The inspiration for this post on FOOH (fake out of home advertising) was Ryan Wallman’s marketing predictions for 2024 on LinkedIn. In particular two of his five predictions

    2. Someone will post a viral ad that is a) fake and b) terrible. Hundreds of people will comment: ‘Genius!”

    5. Marketers will try to emulate the success of Barbie but will completely misconstrue its relevance to their brand, culminating in a series of fucking stupid and totally unsuccessful stunts.

    Ryan Wallman

    As with many marketing predictions, they are equally applicable for 2023 as well as next year (and probably several years on).

    These two particularly resonated with me, due to the current trend of FOOH. This is where a creative agency has put together photography or video showing an out of home execution that doesn’t exist.

    These aren’t concepts that have been mocked up for a client to show them how indicate how their campaign would look when activated. Or as a creative calling card by an agency or team to catch the eye of a new client a la the famous Volkswagen Polo car bomb advert which leaked out on to the general public.

    Instead, they are created with the express intent with fooling a good deal of the public that the execution is real. In the case of Maybelline, it was pushed out on third party influencer accounts on TikTok and YouTube as ‘truth’.

    Other examples

    The Popeyes and Truff collaboration campaign can be seen here. British Airways mocked up a billboard at the Glastonbury festival, but wouldn’t have been able to buy the space even if it wanted to.

    The Independent were fooled by Jacquemus with these FOOH-ed giant handbags. It is particularly interesting that a mainstream news media channel was fooled.

    And I find that troubling for a number of reasons. And let’s illustrate this through a quick thought experiment.

    The John Holmes thought experiment

    You probably don’t know me, I am an overweight white male with a shaven head and distinctly average in every physical way.

    A quick John Holmes primer

    John C Holmes via Wikipedia

    The late Mr Holmes was taller than me. He was an army veteran and then worked a number of blue collar jobs from ambulance driver to factory worker and forklift truck driver. He eventually hit a patch of unemployment and agreed to do nude modeling and appear in pornographic films. At the time these films were closely linked with organised crime in the US. Times things changed. During the early 1970s the industry saw a golden age where porn films became mainstream culture. Roger Ebert reviewed these films for the Chicago Sun-Times and his peers did similar at the likes of the New York Times.

    Holmes became a popular culture figure and his name spread far wider than the viewership of his films. Mark Wahlberg’s character in Boogie Nights is heavily influnced by John Holmes. He was famous for his penis size.

    For the latter part of his adult life he was an addict, which affected his ability to work. The movie Wonderland dramatises a low point in Holmes life and his association with murder of the Wonderland drug gang.

    Back to the thought experiment

    By some strange incident, a video of me stepping out of the shower and then putting a towel happens to be made. A creative chum decides to make lemonade from these lemons and uses <insert generative AI video tool du jour here> to create a realistic looking, but fake, appendage.

    Nothing has changed, I am still as I introduced myself earlier, distinctly average in every physical way. Then I add it to a dating profile. In my opinion it would be both unedifying and distinctly dishonest. This is what brands are doing when they create FOOH campaigns to generate social currency (virality, talkability etc).

    Authenticity

    These videos and photos are demonstrations of creative craft and creativity, but good judgement asks not only can something be done, but should it be done. It’s often not part of an ad format that makes it clear that the image isn’t ‘real’ and there is no ‘wink-wink’ moment to bring the audience in on the truth. This isn’t ‘truth well-told’ as advertising as McCann the advertising agency would have put it.

    Brands step across the line of believability, inevitably letting consumers down.

    Authenticity vs. fakery

    While FOOH showcases the incredible capabilities of CGI and digital storytelling, so do 3D digital billboards. 3D billboards do it in a more honest, authentic and entertaining way. The Air Max Day billboard campaign in Tokyo would be genuinely memorable, creating a sense of wonder and generate talkability.

    By comparison FOOH is a fiction cosplaying as reality. FOOH raises questions about the authenticity of the brand experience itself. Advertisers push the boundaries of what is possible with a minimum spend. These simulations of awe-inspiring moments dilute the credible real-life experiences we’ve come to appreciate. Authenticity is a pivotal factor in establishing trust between a brand and its audience. What does it say about the brand as a corporate citizen, when they are normalising fraud, lies and astro-turfing on social platforms? We have enough problems in the media eco-system already, without brands making it worse. FOOH can be seen as a manifestation of brand sociopathy.

    More related content can be found here.

  • Every old idea is new again

    Inspiration for every old idea is new again

    The inspiration for this post on every old idea is new again came from my opening up Rakuten‘s Viber messaging app on my iPhone. Viber is a messaging platform and also does voice over IP, including out to the phone network. It is a hybrid of Skype and WhatsApp in terms of functionality. Viber is popular in parts of Asia, much of central and Eastern Europe, Greece and Russia – often as a second string to Telegram or Zalo.

    Scratchcards, giveaways

    I saw the following image in Viber.

    Viber’s scratch card giveaway promotion.

    Which took me right back to roughly the same time of the year back in 2012, when I worked at Ruder Finn and did a similar digital scratch card execution to promote The National Lottery scratch cards in the run up to Christmas.

    And so it begins

    I was fortunate to work with a great creative and technology team: Stephen Holmes and Dru Riches-Magnier on the project. The promotion was executed within a high security environment because Camelot’s IT standards were way beyond what we usually worked with.

    Here’s the case study that I wrote up about the scratch card project in my portfolio.

    Slide 8
    Slide 9

    This was the most stressful time I had during my time working at Ruder Finn and one of two high points in terms of the work that we did.

    So when I saw the Rakuten Viber execution, I had a deja-vu moment and the epiphany that every old idea is new again.

    Strawberry fields forever & the square mile

    So how do we get to a point where every idea is new again? Years ago I used to DJ in bars, clubs and parties. A couple of young lads on a music production course saw a record label release one of their assignments to tap into the psychedelia and dance-indie hybrid sound. The record was a cover version of a Beatles track with a Soul II Soul type break beat underneath. It became successful and topped the charts.

    There were a surprising number of people who didn’t realise that it was artfully created cover version of The Beatles, I even heard the original described as a poor version of Candy Flip.

    Newness is a matter of perspective. This was brought home to me at a talk that Damien McCrystal gave years ago. This was about the time that he was a business columnist at The Observer. I can’t remember the context but McCrystal said that the memory of ‘the square mile’ (think Wall Street in US parlance) was about eight years.

    Which was the reason why the 2008 mortgage crash looked eerily like the savings and loans crisis of the 1980s. And that is despite most of the people in investment banks having a passing familiarity of Michael Lewis’ insider account Liar’s Poker which outlined how derivatives fuelled much of the 1980s Savings & Loans crisis.

    I got to read it in college, despite having no interest in entering the world of finance. By and large I managed to stay clear of finance aside from being an in-house marketer early on in my career at what’s now HBOS and credit card provider MBNA. I also had a bit of early luck in my career timing, as I left MBNA before the payment protection insurance scandal hit the sector.

    This was the classic example of every old idea is new again, but with the added wrinkle that a bad set of ideas can suddenly turn into good ones over time.

    But as a strategist, this taught me to be careful on interventions pointing out a given concept is an old idea, given that every old idea is new again at some point.