A Book with Legs Toby Stuart - Anointed
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Sep 15, 2025 Toby Stuart, an author and professor at UC Berkeley's Haas School of Business, dives into his book "Anointed" with Cole Smead. They discuss how social status impacts our perceptions, using art and technology as examples. The conversation touches on the emotional journeys in careers shaped by initial opportunities, the influence of status on consumer behavior, and the role of stereotypes in professional environments. Additionally, they explore the transformative effects of AI on society, drawing intriguing parallels to past technological revolutions.
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Identity Over Object
- Toby Stuart argues markets shifted from valuing objects to valuing producers' identities when evaluative uncertainty is high.
- A painting's value can jump millions solely because an expert declares its creator, showing status-driven valuation.
Rembrandt Reclassification Case
- Toby tells Jan Six's Rembrandt story where reclassification of a painting multiplies its value dramatically.
- The same physical painting was worth tens of thousands as a 'circle of Rembrandt' and far more if anointed as a Rembrandt.
Evaluative Uncertainty Drives Status Reliance
- Evaluative uncertainty drives us to judge the who instead of the what across many domains like wine and books.
- We rely on prestigious producers as shortcuts because we cannot reliably evaluate many complex products ourselves.
