consumption is the bottleneck of a modern economy’s economic flow. pay and desire control this demand. however, there’s now a third parameter:
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previous economies were limited by production. everyone wanted a corolla but there were only so many car factories. but now we can basically invest (using debt) to create as many factories as we need provided the corollas can be consumed
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but if u increase production so that everyone can have 10 toyota corollas, u will still be bottlenecked b/c no one wants 10 corollas. it’s not that they can’t afford or don’t know the benefits of a corolla
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u have to create sth new like a tesla or a ferrari or a new iphone to constantly “refresh” consumer demand. this is why “innovation” is so necessary in recent times. the half life of desire is much shorter nowadays
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the reason having a faster decay creates such a difference is the same reason a computer is not just a super fast calculator. at different magnitudes, entirely different behaviors emerge
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rapid decay of desire means that marketers alone cannot effectively generate demand. they need “real innovation” because words, pictures, videos, and social nudging can only do so much.
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the big change is that previously you didn’t need designers or engineers etc.... u just needed mad men.
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End of conversation
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