Status is a tool for the working wealthy, but ultra-luxury brands are only appealing to a subset of wealthy people.
replyThere’s a great number of people with 100+M and even far beyond that who enjoy nobody knowing just what kind of wealth they have. This doesn’t mean looking poor, but there’s plenty of value in anonymity.
He’s probably also too rich for fancy watches to actually be a useful signal of wealth amongst his peers.
replyThe price isn’t keeping anyone at that level of wealth from buying a Nautilus or a Lange 1 or a panda Daytona. But they can still flex with ultralimited pieces like Zuck’s Greubel Forsey.
replyI didn't realize that "fools and their money will soon be parted" was a flex.
reply“There are three of these things made in a year, and I’ve got the juice to get one of them” is. Zuck doesn’t care about a million dollar price tag, any more than I would care about a couple bucks.
reply>>> ...PG writing an essay about being too smart for fancy watches
replyStealthy, like a submarine.
While the ultra rich do buy from luxury brands, they're often spending the most on unique items, such as ordering a custom yacht.
replyHaving the most expensive item in some category, or close to it, often gets you news coverage, which is something a normal purchase can't really offer.
I know I’m being sold something when someone declares the science of human nature.
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