Value, in an economic sense, is theoretically created by new things based on new ideas. But when the material basis for these new things is missing or actively deteriorating and profits must be made, what is there to be done? Retreat to the immaterial and work with what already exists: meaning.

Meaning is always readily available to be repeated,... See more

It’s the same logic that powers Erewhon, or Soho House, or influencer-run startups. You’re not paying for the thing. You’re paying for the removal of difficulty . The filtered lighting. The social cachet. The sense that this world still makes sense!

We also believe that the experience economy is dying, its key commodity (umami) has changed status, and nobody knows what’s coming next.