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Lifetime no-questions warranties show that a manufacturer or seller is willing to stand behind their products, but there needs to be goodwill on both sides.
Otherwise, as L.L.Bean demonstrates, a generous policy gets replaced by Rules That We Will Follow, and everyone suffers.
One minor story element of The First 20 Million Is Always The Hardest can no longer happen – the protagonist keeps his tiny startup afloat by returning everything he’s ever bought from L. L. Bean.