That’s what my instinct says too…
Cutting corners really hasn't been about meeting demand.
Well here is my theory. I am an artist. Once in college one of my professors told me "cater to the rich." I didn't listen to him of course and did some pcs that everyone could afford. They sold well. However it felt like I wasn't getting anywhere. It was hard work with little return. So I did some high priced pcs and added them to my shows. It's so much more rewarding selling just 1 pc and making twice the money.
Your welcome to it. As a boomer I am bewildered by how those of us that sincerely wanted to make things better, to have love prevail instead of hatred have failed so spectacularly in what we thought was possible. I sincerely hope you folks do a better job than we did to make this a better world, but unfortunately greed is stronger the righteous intentions.Unfortunately…the Xers time to rule the world has come…
- an Older Xer
1. I totally agree with you
If you need to work to afford to live in a $5 million home, you aren't wealthy.
If you have $2.5 million in equity and a $2.5 million mortgage that you need to work simply to pay? You're wealthy. Unless you consider someone with a net worth north of $2 million not wealthy.
No, I don't consider someone with a net worth of $2 million wealthy.
To confirm, you don't believe a technical multi-millionaire is wealthy? I think you are giving too much credit to the word "wealthy."
Somebody whose mortgage is the same figure as one's net worth needs to get their head examined but then again during the 2008 recession when some in my areas lost their jobs and homes, the local pawn shops and Mercedes and BMW dealers Pre owned sections were flooded with inventory, kids were pulled out of colleges and private high schools.
Whatever the ticket price, the Boss will still perform to sold out arenas.
According to your own math it sure looks like $2.5 million debt. Equity = value that is variable, inconsistent and just numbers on paper. So, I see a net worth of "0".
The comparisons between Walt now WDC and Springsteen are uncanny. Both came from humble beginnings, both had an extremely hard work ethic at their craft, both had the sensitivity to reach the average man and with that both had expensive tastes. Both had a company behind them selling their image and profiting, you can go on and on with the likenesses but both the company and Bruce Inc in the end fell in love with dynamic pricing and maximizing profit. You think Disney’s dynamic pricing and crowd control reservations/genie plus is bad? Take a look at his tickets this tour, he once was buy A GA ticket at a reasonable price come early for a wrist band and lottery and you may be in the front row to now dynamic ticket pricing where a top of the arena seat is $2800 based on algorithms ($5000 on the floor). The defense from Bruce Inc via The NY Times was nearly identical to WDC’s response.
If I'm going to see the Boss and pay $5K I'd rather see him in a more intimate place like one of his scheduled tour shows at Hard Rock Live in FL instead of football stadium shows.
Not quite sure how you get to live in a 5 mil. home and not be wealthy at least at the time. I guess it depends from what direction one is looking at it.
Some people have the notion that if you need to work for a living at all, you aren’t “wealthy.” That true wealth is living off investment income only… I can see that argument, but I dispute it. Building wealth is, and should be, a long-term commitment. If you make $2.5 million you can easily afford a $5 million house and still build investment wealth quickly. They aren’t mutually exclusive.