Only rich people can afford Yachts now
I know that this is difficult for some people but when new technology comes along it is really expensive. It is not until thousands maybe millions have been made that the price starts to come down and regular people can afford it.So the wealthy are absolutely essential to the development of new technology. They are early adapters and without them prices don’t fall and technologies don’t advance. Wealthy people don’t compete on the cost of their toys they compete to be the first with the most cutting edge.
Examples
- Cell Phones
- GPS in Cars
- Microwave Ovens
- Air Travel