Scott Galloway

So if you ingest it, you say, well, Scott, what about inflation?

Okay, that's $131 average, and the most expensive ticket inflation adjusted in 1994 was $1,069.

Now it's $38,000.

What it represents more than anything, distinctive whether you think FIFA is corrupt or not, fine, they get to do what they want in terms of dynamic pricing.

It's that the 1%, who goes to the World Cup?

Super fans and the 1%, because it is expensive.

To fly to Monterey or Mexico or Vancouver to see a soccer game, that's a luxury item.

And the reality is the 1%, and you can even argue the 10%, have garnered all of the gains.

And that's why you've seen no one likes to talk about it, but inflation at high-end hotels has gone crazy.

Yeah, rich people inflation.

If you have an asset that appeals to rich people and you can create a sense of scarcity, your pricing power is out of control because, one,

the rich have exploded their wealth, right?

Two, there's a change in zeitgeist where people realize rich people are generally older.

They just got through COVID and they're like, I'm gonna be dead soon.

Why wouldn't I pay $38,000 to go to the World Cup?

I'm gonna be dead soon and I have money.

Why wouldn't I?

So you have this kind of YOLO versus massive demand from people, from the rich who have a lot more money.

And then you have FIFA who's made the following strategic choice, and they get to make this choice.

Traditionally, they have priced their tickets below $100.