Comment by ryandrake
7 hours ago
Yea, at some point, these guys won't really need the vast majority of us to buy from them. They'll be buying from and selling to other wealthy people.
7 hours ago
Yea, at some point, these guys won't really need the vast majority of us to buy from them. They'll be buying from and selling to other wealthy people.
That makes litteraly no sense. All the biggest companies are driven by middle-class purchases. Rich-only companies are boutique and are order-of-magnitude smaller than mass market companies.
This is actually changing. Many consumer and retail companies are already shifting their focus from the mass middle class toward high-income and affluent segments. Businesses find higher profit margins and more resilient demand in premium goods. And in enterprise, companies just pay other rich companies who pay them. (sometimes just directly).
50% of all consumer spending now is done by the top 10% and this keeps shifting up.
We've got a horribly K-shaped economy even before AGI.