Great op-ed in the Wall Street Journal today by our friend and favorite guest Andy Kessler, explaining why the “have nots” should stop pointing fingers at the rich. Why? Because to get rich today, you need to create value for a mass market – and the rising tide inherently lifts all boats. In other words, being wealthy isn’t so special anymore, now that everyone has an iPhone and a flat screen TV.
Yes, some people have more than others. Yet as far as millionaires and billionaires are concerned, they’re experiencing a horrifying revolution: consumption equality. For the most part, the wealthy bust their tail, work 60-80 hour weeks building some game-changing product for the mass market, but at the end of the day they can’t enjoy much that the middle class doesn’t also enjoy. Where’s the fairness? What does Google founder Larry Page have that you don’t have?
Luxury suite at the Super Bowl? Why bother? You can recline at home in your massaging lounger and flip on the ultra-thin, high-def, 55-inch LCD TV you got for $700—and not only have a better view from two dozen cameras plus Skycam and fun commercials, but you can hit the pause button to take a nature break. Or you can stream the game to your four-ounce Android phone while mixing up some chip dip. Media technology has advanced to the point that things worth watching only make economic sense when broadcast to millions, not to 80,000 or just a handful of the rich.
Thanks to JL for the heads up!
Exclusive interviews with Andy Kessler:
- Eat People: And Other Unapologetic Rules for Game-Changing Entrepreneurs
- The Future of Silicon Valley and How You Should Invest (Inspired by Grumby)