This one company controlled 80% of eyeglasses in the world.

This one company controlled 80% of eyeglasses in the world. Then for college students broke their monopoly with one simple idea. But here's the crazy part. They didn't invent better glasses because what they destroyed is a billion dollar monopoly that wasn't even in technology. They were because they destroyed the middleman. Let me explain. This is Neil Blumenthal and in 2008 he was a business school student who lost his glasses on a backpacking trip. When he tried to replace them, he got hit with a $700 bill for just his glasses. Then he couldn't afford it for months. And that's something was broken. Glasses typically cost about $30 to make, but it was sold for about $500 or $600 per piece. And he quickly realized someone was massive markup. And that someone was no other than Luxottica. They own everything. Ray-Bans, Oakleys, Lenscrafters, Pearle Vision, Target Optical, Sears Optical, EyeMed, Oliver Peoples, and Sunglass Hut. And even the vision insurance that some of you may have. They controlled the entire supply chain and charged whatever they wanted. So in 2010, Blumenthal and three classmates launched Warby Parker with one radical idea. They want to sell glasses online for $95. There's no stores, no middlemen, just quality glasses to your door. But here's what's crazy. Everyone said that it would never work. People need to try on glasses in person, they said. But Warby Parker created the at-home try-on. They would send you about five frames for free and you pick what you like and send the rest back. And because of this genius strategy, they sold over 100,000 pairs in their first year. And by 2024, they hit $771 million in revenue. So if you're starting a brand, your industry standard markup might be your biggest opportunity. When everyone accepts high prices as normal, cutting out the middleman becomes the revolutionary idea. That means looking at your supply chain and asking, what steps add cost but not value? You can remove them and pass the savings to your customers. So follow me to learn more and branding.