The first one is affordability, as I said, because consumers are value conscious, but it's not about low cost. Frugal solution is not low cost.It's about making something more affordable but also three other attributes.
It's all about-- and then fill in the blank. frugal innovation, but I don't buy it.
I'm sorry, frugal . More of a Scottish word, isn't it? Frugal . Get in my belly.So on the drive home I'm thinking to myself, what am I going to tell my wife.
yielded only bitterness, businessmen whose books were port tents of disaster, homeowners who were faced with eviction, frugal citizens whose savings were insecure.We will continue to seek to improve working conditions for the workers of America, to reduce hours over long, to
were a lot of boycots of British products. And you know, this is where we get the tea party from -- the Boston tea party. And there was, what I would call, "conspicuous frugality" going on back then. Ben Franklin, Thomas Jefferson, John Adams, all those guys were trying to get Americans to stop buying imported goods. And, you know, townspeople would get up together and sign petitions saying that they would never drink British tea. They called it "poison.”
And overall, these are becoming the two pillars of what I call the frugal economy. A frugal economy is, in a nutshell, an economy where supply can meet demand in a cost effective, environmentally friendly way. So this is actually enabled, as I said, by the sharing economy, which is the first pillar of this.
Then, moving onto the next principle, which is equally interesting, is to say, well, it's nice to have one or two products that are frugal and sustainable, but how do you fundamentally rethink your whole supply chain to make it frugal so you can reduce the gap between supply and demand, as I said at the very beginning?
Alton Brown: I, like Good Eats, I never paid attention to fans. original Frugal Gourmet cookbook, Jeff Smith's Google for, Frugal Gourmet.
And he's like, I hear you're The Points Guy. But for The Frugal Traveler, which was his column in "The New York Times" at the time, he goes, frugal budget travelers don't need points. Just get the cheapest ticket ever.
And so we're also a very frugal company. We want to be frugal -- Google frugal ? Yeah. Frugal at Google?
So that gets you to one of the design concepts of designing things that are for the bottom of the pyramid. To make them frugal , to make them affordable, you have to engineer them in a way that is stripping down in essentials. That means that they have fewer parts that will break, fewer parts that need to be accessed to begin with, but it still needs to work.
a lot more software simulation, for example, instead of making physical prototypes and things like that. So this is called frugal science. It's basically a cost effective way of conducting scientific experiments and space exploration as well.
the gap between supply and demand, as I said at the very beginning? The definition of frugal is that you reduce the gap in time and space and resources between supply and demand. Well, today, it's not very easy because look at the value chain.
And my response, thanks to my wife, was there's only one Warren Buffett. to be frugal , earnest, entrepreneurial, prepared for autonomy, and interested in the long term.
of the New York and Illinois chapters and got me involved there, got me involved in many of the things we've done. And she's frugal . She went to college on a scholarship. Her father was a military officer.
That's expensive! Wish she was frugal . So I bought it anyway.
That's expensive. Wish she was frugal . So I bought it anyway.
Pam: Uhh. Barry Salzman: She's not telling. Male Audience Member #8: Frugal . Yeah, in a very good way.
And you know, so back in those days, people were deeply connected to the resources that they used, and they had no money. So as a result, they were probably what we would consider 'frugal ' today, very resourceful, very -- oh, it just went off again I think. There it is. -- -- very resourceful, very prudent and cautious about spending.
- So it's the, you know, live fast and burnout and die young, right? Or spend it frugally and live a really long life. - But you might have also noticed something else.
So we wrote our first book on this concept of frugal innovation or frugal science because we noticed that even in the scientific world, this kind of frugality can be useful. As a case in point, this is a spatial mission launched by NASA called Maven for Mars, and this satellite actually
And we're all very frugal .
And my mother was very frugal , and very careful with money.
Of course, we do have our video conferences soon, but nothing truly beats the in-person meetings. And so we're also a very frugal company. We want to be frugal -- Google frugal ?
And so it is very frugal .
Seems like all of my money's really spent. Next time I'll find someone frugal . So I won't have to find out about bankruptcy in Google.
So I won't have to find out about bankruptcy in Google. Hopefully next time I'll find someone frugal . Maybe I'll find a dating site.
cards in the 1950's. As soon as Americans had greater access to cheap money, they took advantage of it. And you know, as much as we like to think of ourselves as having been frugal back then, often again, it was economic necessity and sometimes political necessity. So like, during the American Revolution, there were a lot of boycots of British products. And you know, this is where we get the tea party from -- the Boston tea party. And there was, what I would call, "conspicuous
sobriety and self-denial and frugality.
hard you were working and how frugally you were saving your income. By the industrial revolution, of course,
Where do you see the adaptive rationality and fast and frugal heuristics literature going next?" Oh.
And there's one way of managing costs in a very frugal way.
We want to be frugal -- Google frugal ? Yeah. Frugal at Google? We sunsetted that, but the spirit remains the same.
We sunsetted that, but the spirit remains the same. You know, frugal , but generous. And so you know, what sort of advice do you have for business travelers that want to maintain a sense of price consciousness,
So people say that the French are very frugal in their cooking, but I think that Mexicans are even more.
That means that they have fewer parts that will break, fewer parts that need to be accessed to begin with, but it still needs to work. So this is a great example to me of ingenuity and frugal engineering. I'm going to pass it around if you want to see them.
using, among other things, mobile connectivity. So we wrote our first book on this concept of frugal innovation or frugal science because we noticed that even in the scientific world, this kind of frugality can be useful.
In other words, do more and better with less, and that's what we call frugal innovation. In a nutshell, frugal innovation is about-- and many of you being engineers, I would be not credible if I don't have a formula somewhere in the slides. So essentially, it's about maximizing value while trying to minimize resources.
And they're not stopping here, Renault. Now they're writing the next chapter in the frugal innovation journey, which is going to be unveiled in May in India. This is called CMF-A, which is a new car platform which is being developed in India that will be shared between Renault
components, but what about more complex products, like a car, which has 14,000 components? transpose that in this model to reduce the friction in this frugal economy.
Because they realize that they have used what they call frugal innovation, which is they came up with the $5,000 car in France, in Europe.
We just make it, because we're that cheap. I'm sorry, frugal . More of a Scottish word, isn't it? Frugal . Get in my belly.
and their betting the farm on this newly frugal customers, and their hypothesis goes something like, you know, "we've hit a permanent reset button, people will rethink value, will rethink
Brown uh very smart uh these are words from The Economist Frugal that's a
And I was also telling Katie that, after some of the media stuff that I've done, including the New York Times -- the interview with the Frugal Traveler Blog of the New York Times -- I have gotten a few, very random e-mails from men proposing to me. And usually they say -- there have been three marriage proposals I think -- and usually they say, "Women keep breaking up with me, because they call me too cheap.”
You know, there are some famous examples of horders whose homes got so filled with crap that they actually died from it. There's a famous brother -- the Collyer brothers You know, they prefer "frugal " or "thrifty.” Which is fine.
You know, there are some famous examples of horders whose homes got so filled with crap that they actually died from it. There's a famous brother -- the Collyer brothers While I was writing -- I've always been very frugal , but living on a writer's income, I had an advance, but it wasn't particularly large at all and I went through it fairly
But things like saving, frugality, is part of the moral discipline.
My money lens-- the way I look at the world-- was frugality.
Donc on voit qu'avec des démarches comme ça d'innovation frugale, open source, on peut vraiment arriver à avoir des impacts assez énormes.