Middle class brands collapse, 1% brands thrive

Curiosity finally got the better of me and I checked out Vegas last year. Didn’t like it, for the most part.

What I did notice both from pre trip research and my observations is that collectively the Vegas properties have been weaning themselves off gambling and focusing more on dining and entertainment. I’d hazard a guess that most of those suffering regional casinos can’t begin to compete with what Vegas offers in those realms, so they aren’t drawing as diverse a crowd to begin with.

The other big thing I noticed is that Vegas is swarming with average Joes and their families. No doubt the high rollers are there somewhere, largely out of sight, but in the streets, shows, stores, restaurants and so on the people are by and large perfectly average Americans. I was mildly appalled that people seem to consider this a good place for a family vacation – and baffled that so many love it at all.

But maybe Vegas is emblematic of the wealth gap:

It’s a beacon for a certain part of Middle America, a place that makes them dream, where for a relatively modest price you can be a pretend-billionaire for a few days. But it’s also built almost entirely on swindling rubes by dangling shiny things in front of them. It’s all promise and no payoff, unless you’re the man behind the curtain.

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