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# HBS vs BAYC
- URL: https://www.taivo.ai/hbs-vs-bayc/
- Published: 2022-05-19T17:18:38.000Z
- Updated: 2022-05-19T17:27:02.000Z
- Author: Taivo Pungas
- Tags: Everything else

At a New Year's Eve house party a few years ago, I met someone who had graduated from Harvard Business School. Among other topics, I brought up something I couldn't figure out: why would someone pay [$200,000](https://www.hbs.edu/mba/Pages/cost-of-attendance-class-of-2023.aspx?ref=taivo.ai) for something you could just get from a [$13.99 book](https://www.amazon.com/Personal-MBA-Master-Art-Business/dp/B0095PELTM/?ref=taivo.ai)? Sure, it's not the same, but most of the $200k you're paying for membership in a club.

Instead of arguing he made an excellent point: you're paying $200k to join a club whose members have also chosen to pay $200k to join that club. As long as a membership badge is famous, scarce, and legible enough, carrying the badge instantly creates a baseline level of trust and respect in everyone – not just other badge holders.

And that's why [Bored Ape Yacht Club](https://opensea.io/collection/boredapeyachtclub?ref=taivo.ai) NFTs go for the price of a house.

![](https://storage.ghost.io/c/4a/28/4a28c12b-061d-4fef-9be7-3d9f25838589/content/images/2022/05/Screenshot-2022-05-19-at-20.17.37.png)