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In the podcast episode, the importance of design in the success of a product or company is emphasized. The speaker believes that as the significance of a domain or industry increases, so does the importance of design. Design is seen as a way to attract attention, instill trust, and differentiate from competitors. The speaker mentions that today, high-level design is crucial from the beginning to be taken seriously. Several examples are given to highlight the impact of design on user experience and perception, emphasizing the need for a well-designed product in today's competitive landscape.