897
Start-up idea (lemmings.world)
submitted 9 months ago by to c/lemmyshitpost@lemmy.world
129 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] 48 points 9 months ago (6 children)

It's like any other luxury.

Back in 1960, minimum wage was $1.00/hour. You could get a meal at a diner for under $1.00 or go to a really swanky place and spend $4.00 or $5.00.

Today, minimum wage is $7.50, a diner meal is $20.00, and a luxury meal is $100.00

You can go out a find a really well build product that will last, but it will cost ten times as much as the one you can afford.

  • permalink
  • fedilink
  • source
  • hideshow 6 child comments
    •
  • [–] 12 points 9 months ago (4 children)

    Ah yes, the Sam Vimes' boots theory

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 4 child comments
    •
  • [–] 22 points 9 months ago (3 children)

    Nope, totally different.

    Look at the price of Super Bowl tickets.

    First Bowl tickets were $10.00. This year they were going for $6,000.00

    Top luxury car in 1960 was $7,500.00 for a sports car and $35,000.00 for a Rolls or Bentley. Most expensive car today is $30 million.

    The rich have gotten much, much richer and 'need' to spend more so people will notice.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 2 points 9 months ago

    I agree with your larger point, but I think the super bowl comparison is poor. Popularity has changed so ticket prices will have gone up. The first Super Bowl is not what it is today. The luxury car example was a much better like-for-like comparison.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 4 points 9 months ago

    This is true for some products but absolutely the opposite for many others. You can go buy a $500 jacket that will outlive you but good luck finding a car or fridge that won't break, especially the high end models with all the bells and whistles. Samsung will happily sell you a $5k fridge that has dozens of features that will break and require servicing far more frequently than the $500 white apartment fridge.

  • permalink
  • fedilink
  • source
  • parent