Tough Mudder CEO Will Dean discuss where the original Tough Mudder idea came from, and why people would pay for an experience that puts them through grueling conditions.
There is a lot of research that shows if you spend your money on experiences, you’re going to be happier. Your memories appreciate in value, particularly shared memories with friends and family. These are the things we cherish. By contrast, material goods depreciate. You buy a car, and it loses a third of its value the moment you drive it off the lot. I think we have tapped into that way of thinking, and I believe it’s generational. Many young people are now putting their money towards experiences over everything else.
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