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I think my most genuinely unpopular take is that a widely held and genuine consumer preference for cheaper, lower-quality goods, not private equity, is driving the decline in quality of consumer goods like clothing and housewares.

This is why flying is bad now. People will say they want full service airlines and wax nostaligic about the golden age of jet travel (when it was unaffordable), but revealed preferences are that people choose the lowest up front price option when spending their own money.

True but also once these people get on the plane they absolutely hate it. Spirit is out of business and Southwest is building lounges. I think we’ve reached the limit of how cheap people want their tickets to be.

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