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"The unwritten story of the Juicero debacle is that high income inequality causes capital to be misallocated towards luxury production." - Matt Bruenig, with a
by RodericDay 9y ago
"The unwritten story of the Juicero debacle is that high income inequality causes capital to be misallocated towards luxury production."
- Matt Bruenig, with a better take. That, if you look a little closer, also applies to Uber/etc's "sharing servant economy", and even Tesla's "trickle-down environmentalism".
- bbctol 9y agoYeah. Even if Juicero had "succeeded," it would have been research and investment into a $400 juicer.
- ghaff 9y agoBut is this really anything new. The scale of investment may be different (although I'm not sure by how much if you take into account high-end real estate). But walk down Fifth Avenue in Midtown or the typical Las Vegas mall (or even--especially--the high-end shopping streets in Beijing) and there's plenty of money allocated toward making and selling things for the 1% plus that have nothing to do with tech.
- haltingthoughts 9y agoTech nearly always reached the rich first. "Computers are type writers for rich snobs who can't type."