Recently I was chatting with a friend who has a net worth in and around there (made his money in mining/exploration), he was in a kinda bad mood and I asked what was up... he was supposed to be flying to Italy, but his crew where late putting his USA Yacht away and they hadn't arrived in Italy yet to get his Europe Yacht unpacked and ready to go. I hadn't really considered before... he employs 6 people full-time to travel around the world and deal with his boats. Very different problems from my problems anyway, heh. :)
I have a friend that basically throws the high net worth welcoming party that’s missing from people’s lives
identify a friction and cater to it, this is an underserved field because people are not willing to validate wealthy people’s problems, or specifically invalidate them
I don't understand. Your friend has a catering business that throws parties for wealthy people? Because wealthy people don't get enough parties? Or did you mean metaphorically. In that case, what kind of metaphoric "welcoming parties" are missing from wealthy people's lives?
yeah, not metaphorically, a lot of newly wealthy people are surrounded by resentful people and they spend a lot of cycles hiding it or trying to blend in rather than enjoying it, in comparison to generationally ultra high net worth people that already operate in specific locales and environments
there is no round of applause or red carpet for them, no “wow dude you made it”, and people are fine with that….. until you present them with that specific thing and new circle of socioeconomic equals that also like that specific thing
thats a friction he solves and it is very lucrative
I think you understood fine, its the entertainment and hospitality sector
I believe that these issues were handled by retainers historically. You would employ someone, then that persons children and so on. Thus some knowledge of these problems was built-up over time.
Unfortunately, if wealth inequality continues growing - these will be the most lucrative problems to solve. I'd be quite interested in whether there have been studies of where market forces begin to stop existing.
Well, you need to be in proximity to wealthy people to get that information, and that's why it's under served. There's not really a public clearinghouse of unaddressed wealthy-people-problems to inform this market that I know of.