Speaker unverified: belief

Transcript context

…Yeah. You have luxury expanding from this tiny little niche of literally making stuff for kings and queens to now they at least make stuff for rich people because there's an expanding class of a new set of royals in the world, and they're Royals of money. How Luxury Lost Its Luster, which I'm going to quote a few times here because she just has some great perspective on this. Here's her description of this. "Let's pursue the analogy. Since the dawn of humanity right up to the turn of the 19th century, the world of luxury has been virtually totally isolated from the rest of the economy. Its pleasures and delights reserved for a very small elite, practically the entire population. We're living in a subsistence economy firmly rooted in their rural environment. We're living a life of misery in towns and cities without any access to culture. " I think that's the best framing for luxury of anything I found, which is, you really can't think of it as stuff that's expensive. There's actually a different segment of society that is completely walled off from 99.99% of people in the world. These were the goods personally made for them until global wealth started to become a thing. Yes, and this is what Racamier recognized. He was so genius. Nobody else did this mega, mega, mega global trend of there are now enough people in the world that can afford this luxury. A lot of people can afford this luxury. It's not just this very small group anymore.…

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