Culture change. But it is held by rules, and they are driven by status and affiliation.
Nobody really needs a car that can accelerate one second faster than another car. But one is given status in some circles. But what happens when a new generation of technology makes the previous fastest car no longer the fastest? Is it still a luxury good?
Mink coats carried a certain prestige in some circles. What if Patagonia jackets were warmer, more durable, cheaper, lighter, less cruel and easier to wear?
A big steak dinner was a way to express generosity and hospitality. What happens when you live in a community where steak is no longer seen as generous?
Perhaps a Master of the Universe might dictate that he simply hop on his private jet and be at the meeting tomorrow. Is there more status in being the one who can save time and overhead by just dropping in via Zoom?
A large office can’t be more prestigious than a resilient, productive workforce that works wherever it wants. A loud factory packed with workers may not be the sign of power and influence it once was. Smokestacks show that a city is running…
In many cases, luxury goods cease to have status when they make the owner look foolish.
The rules seem normal. Until they are.