The value must exist when both universality and scarcity coexist. Universality is a property that anyone can recognize, whereas scarcity refers to limited possession. In other words, recognition should be universal so everyone can understand it, but the rights to possess or use the object should be restricted. The universality of perception has been influenced by viral promotion, such as word of mouth and media messages, and now digital networking is taking over. Limiting physical possession and use causes scarcity. Before the digital age, this was protected by spatial limitations; however, with the widespread adoption of digital networking, encryption technology now enforces these limits. The restriction of possession and use means that a master sets the physical boundaries of the scarce object. All businesses must satisfy these two contradictions simultaneously to achieve economic benefits. - Joseph’s “just my thoughts”
Originally, the Louis Vuitton suitcase had no wheels. The ancient journey was the exclusive possession of the nobility and the rich. It was hard to go alone because there was a lot of luggage to travel with, so it was usually possible for people who could handle servants. Therefore, there was no need for wheels in the bag then. Popularized travel is a product of the late 20th century. When we look at the wheel of a suitcase, we have to be able to look at history and class together. And we should be able to see the essence of luxury goods. - Joseph’s “just my thoughts”