“Society always wants new things.”
— Naval Ravikant
Naval discusses in a podcast interview that one of the reasons why Uber was so successful is because they distributed the benefit that rich people had from using private chauffeurs to the rest of the population, at scale. So when we think about a business that we want to create, we can predict future demand by discovering what is scarce in the general market right now but, is also highly valued by wealthy people. This is similar to how early tech products have to be enjoyed by early adopters before they reach a critical mass.
So when trying to apply the principle of leveraging what rich people do now to create a future product or service for the rest of the market in the future, we have to see what is truly scarce.
Some ideas that come to mind are:
- Personal and virtual assistants
- Wealth and estate management
- Private jets
Now the implementation will vary depending on which idea one would want to pursue, but I can definitely imagine a world where there is an Airbnb for Yachts or an Amazon for assistants. At all depends on what particular aspect of a rich person’s life can actually be adapted to the middle class. Once you figure out how to do that, you have a shot.
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