The Profit Prophet

I recently read an excellent post by Seth Godin titled, "Understanding luxury goods"  where he goes on to talk about how the internet and luxury are coming into conflict, and this got me thinking about knowledge workers and those in the skills trades (think engineers, athletes, doctors, consultants, actors, etc.).   In Godin’s article he states, “ A luxury good gets its value from its lack of utility and value. A typical consumer would look at what it costs and what it does and say, "that's ridiculous." When a good like this comes to market, it sometimes transcends the value equation and enters a new realm, one of scarcity and social proof. The value, ironically, comes from its lack of value. ….” and he is correct.  It is NOT the utility of the item that gives its value, it is actually the fact that others admire you for owning it. So, as Godin goes on to say, “Discount luxury goods, then, are an oxymoron. The factory outlet or the job lot seller or the...