It's fine in luxury industries. Yachts, jets, jewelry, cruises, etc.
But things that people with limited capital need? That obviously doesn't work. Look at the Cochabamba Water War or the California electricity crisis for good examples.
An unspoken rule of their models is all consumers value money the same and have an unlimited supply.
These assumptions fall flat on >99.5% of people.
But ruby and sapphire encrusted watches? fine! Game on.
But things that people with limited capital need? That obviously doesn't work. Look at the Cochabamba Water War or the California electricity crisis for good examples.
An unspoken rule of their models is all consumers value money the same and have an unlimited supply.
These assumptions fall flat on >99.5% of people.
But ruby and sapphire encrusted watches? fine! Game on.