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LAMENTING the rise of inequality is one of the few growth industries in an age of stagnation. One authority on the American wealthy, Robert Frank of CNBC, a TV channel, worries that the rich are “floating off” into their own country. Chrystia Freeland, a journalist-turned-politician, frets about the rise of the “new global super-rich” and the fall of everyone else. Charles Murray, America’s gloomiest social scientist, warns that society is “coming apart” as the rich retreat into their gated communities.
单词：
- lament [ləˈment]
vt. 悲叹; 悔恨; 痛惜; （为…） 哀悼;
n. 哀歌，挽歌; 悲恸，恸哭; 悲痛之情; 悼词;
[例句]Ken began to lament the death of his only son
肯开始对独子的死悲痛不已。 - inequality [ˌɪnɪˈkwɒləti]
n. 不平等，不均等; [数] 不等式; 变动，变化; 不相同;
[例句]People are concerned about social inequality
人们很关注社会不平等问题。 - stagnation [stæɡ’neɪʃn]
n. 滞止; 淤塞，停滞; 不景气;
[例句]Stagnation in home sales is holding back economic recovery
国内销售的停滞不前正阻碍着经济复苏。 - authority [ɔ:ˈθɒrəti]
n. 权威; 权力; 学术权威; [复数] 当权者;
[例句]This provided a pretext for the authorities to cancel the elections
这给当局取消此次选举提供了借口。 - fret about 担心
- gloomy[ˈglu:mi]
adj. 黑暗的; 令人沮丧的; 前景黯淡的; 悲观的，阴郁的;
[例句]Inside it’s gloomy after all that sunshine
尽管阳光明媚，里面依然暗淡无光。 - retreat[rɪˈtri:t]
vi. 撤退，后退; 撤销，作罢; （眼睛等） 凹进; [航] 向后倾斜;
n. 撤回; 静居处; 引退期间; 静思，静修;
[例句]‘I’ve already got a job,’ I said quickly, and retreated from the room
“我已经有了一份工作。”我马上说道，并从房间里退了出来。
长难句：
Lamenting the rise of inequality is one of the few growth industries in an age of stagnation.
这个句子的架构比较清爽，主语是一个doing结构lamenting the rise of inequality，其中lamenting这个词意思是（为。。。）而悲伤，哀伤，为什么唱哀歌这样的感觉。其实这里意思就是为这种上升的不平等性唱哀歌。为上升的不平等性唱哀歌居然是一个growth industry呢，一个增长性行业呢，哈哈，真的是任何事情都可以作为事业为之奋斗终身啊。我们来看这里说这个行业现在的状态是in an age of stagnation。其中Stagnation是不景气的意思。比如我们想说现在经济不景气就可以直接说our economy is in an age of stagnation。
其实第一句话说的意思就是为上升的不平等性唱哀歌这样的一个增长性行业目前也处于一个不景气的状态。
At the top of the income scale, however, a small counter-trend is observable. Never before have so many people been able to get access to the accoutrements of tycoonery—private planes, luxury yachts, fancy cars and interior-designed, exclusive homes. There is only so much comfort to be had from the fact that it is easier for the merely rich to lay claim to the lifestyle of the super-rich. But as a result of a combination of new technologies and businesses, that is nonetheless what is happening.
单词：
- accoutrement[ə’ku:təmənt]
n. 穿着，配备;
[例句]I loved stationery and all the accoutrements of writing.
我喜爱信笺信封和所有文房用具。 - tycoonery
n. [总称] 企业家；商人; 大亨的作为；巨头的地位;
tycoon[taɪˈku:n]
n. 大亨; <日><史>大君; 将军; <口>企业巨头;
[例句]a self-made Irish property tycoon.
白手起家的爱尔兰房地产巨头 - yacht[jɒt]
n. 快艇，帆船，游艇;
[例句]His 36ft yacht sank suddenly last summer.
他那36英尺长的游艇去年夏天突然沉没了。 - exclusive[ɪkˈsklu:sɪv]
adj. 专用的; 高级的; 排外的; 单独的;
n. 独家新闻; 专有物; 独家经营的产品（或项目、设计等）; 排外者;
[例句]He is already a member of Britain’s most exclusive club
他已经是英国最高级俱乐部的成员了。
长难句：
There is only so much comfort to be had from the fact that it is easier for the merely rich to lay claim to the lifestyle of the super-rich.
There is only so much comfort to be had from the fact想想就很爽这样的感觉是不是？
it is easier for the merely rich to lay claim to the lifestyle of the super-rich对于一般有钱的人，对超级巨富的生活方式进行评价变得更加容易了，这句话表面意思好像是这样，其实深层含义是体验超级巨富的生活方式变得更加容易了。Lay claim to sth，体验过才有资格和能力评价嘛。
Tycoon living begins with a private jet. Whereas yachts are dispensable (not everyone wants to float around for weeks with the same dinner companions) private jets are necessities for the aspiring billionaire. They save valuable time. Even first-class passengers have to wait an hour or so for their flights. Private-jet owners can turn up when they want and climb on board. The planes can double as flying offices, and you don’t have to worry about other passengers eavesdropping on your deals or objecting to your spreading papers. The flight is smoother (private jets typically fly at 45,000 feet), the seats are more throne-like, and you can bring your pets.
单词：
- dispensable[dɪˈspensəbl]
adj. 非必需的，可省去的; 不必要;
[例句]All those people in the middle are dispensable.
所有那些立场骑墙的人都可要可不要。 - necessities 英[nɪ’sesɪtɪz]
n. 必需品; 必要（性）( necessity的名词复数 ); （迫切） 需要; 自然规律;
[例句]Truckloads of food, blankets, and other necessities reached the city.
成车的食物、毯子与其他必需品抵达了该市。 - aspiring [əˈspaɪərɪŋ]
adj. 有抱负的; 有志气的; 高耸的;
v. 渴望; 追求;
[例句]Many aspiring young artists are advised to learn by copying the masters.
许多胸怀抱负的年轻画家被建议通过临摹大师的作品来学习绘画。 - eavesdropping [’i:vzˌdrɒpɪŋ]
n. 偷听;
v. 偷听（别人的谈话）( eavesdrop的现在分词 );
[例句]Don’t you know I could have you arrested for eavesdropping?
你不知道我可以因你偷听而叫人把你抓起来？
No longer do you need a net worth in the hundreds of millions of dollars to have one. With 700 jets, NetJets is now the fifth-largest airline by number of planes, after Southwest Airlines, and it has access to thousands of private airports. Its main innovation was to apply the principle of fractional ownership, or time-sharing, to the ultimate executive tool. Customers buy a share in a jet which entitles them to, say, 200 hours of travel a year.
单词：
- innovation [ˌɪnəˈveɪʃn]
n. 改革，创新; 新观念; 新发明; 新设施;
[例句]The vegetarian burger was an innovation which was rapidly exported to Britain.
素食汉堡是一种迅速传到了英国的新开发食品。 - fractional[ˈfrækʃənl]
adj. [数] 分数的，小数的; 微小的，极小的; 部分的，少量的; 零碎的;
[例句]The concept and the universal property of fractional semiring are given.
给出了分式半环的概念和泛性质。 - ownership[ˈəʊnəʃɪp]
n. 所有权; 所有; 所有制; 物主身份;
[例句]He said that anyone trying to export goods without proof of ownership would have them seized.
他说任何没有所有权证明就试图出口的货物都将被没收。 - ultimate[ˈʌltɪmət]
adj. 极限的; 最后的; 最大的; 首要的;
n. 终极; 顶点; 基本原理; 基本事实;
[例句]He said it is still not possible to predict the ultimate outcome
他说现在还无法预料最终的结局。 - entitle[ɪnˈtaɪtl]
vt. 使有资格; 给…定名; 给与…权利; 称做;
[例句]If the warranty is limited, the terms may entitle you to a replacement or refund
如果保修有限制，根据条款你也许可以要求退换或者退款。
NetJets is skilled at providing its rich clients with an entrée into the cultural world of the super-rich, with hard-to-get tickets to events such as Art Basel, a series of art fairs, and to private dinners with celebrities. The company is also finding ways to bring down the cost: one of its latest ideas is the private-jet equivalent of London Underground’s electronic ticket, the Oyster card. Rather than buying a share in a jet you can buy a pre-paid card that entitles you to a certain number of flying hours a year, with 25 hours’ worth of flights adding up to about €155,000 ($163,435).
单词：
- client [ˈklaɪənt]
n. 顾客; 当事人; 诉讼委托人; [计算机] 客户端;
[例句]The company required clients to pay substantial fees in advance.
公司要求客户预付一大笔费用。 - entrée
f.
进口； 进气口； 进气管； 门厅； 入口； 输入端； 输入； 引进 - Basel[ˈbɑ:zl]
n. 巴塞尔（瑞士西北部城市，在莱茵河畔）;
[例句]The Basel Committee accepted this.
巴塞尔委员会认可了这一观点。 - celebrity[səˈlebrəti]
n. 名流; 名声; 名人，知名人士; 名誉;
[例句]In 1944, at the age of 30, Hersey suddenly became a celebrity.
1944年，30岁的赫西一夜成名。 - equivalent [ɪˈkwɪvələnt]
adj. 相等的，相当的，等效的; 等价的，等积的; [化学] 当量的;
n. 对等物; [化学] 当量;
[例句]The equivalent of two tablespoons of polyunsaturated oils is ample each day
每天相当于两大汤匙多重不饱和油的量就足够了。 - oyster[ˈɔɪstə(r)]
n. 牡蛎; <俚>守秘密的人; 鸡背肉; 沉默寡言的人;
[例句]He had two dozen oysters and enjoyed every one of them.
他吃了两打牡蛎，每一只都吃得津津有味。
长难句：
NetJets is skilled at providing its rich clients with an entrée into the cultural world of the super-rich, with hard-to-get tickets to events such as Art Basel, a series of art fairs, and to private dinners with celebrities.
首先分析一下这个句子的架构
Be skilled at很擅长作某事
Provide sb with sth为某人提供某物
句子主干部分是：NetJets is skilled at providing its rich clients
with hard-to-get tickets是with an entrée的同位语。
to events和to private dinners两个介词短语并列修饰tickets。NetJets这公司还帮助它富有的客户进入超级巨富的culture world，注意entrée这个词用的是法语哎，贵族语言有木有，咱平常就别用了显得太装逼了。 给自己客户搞一些很难搞定的入场券hard-to-get tickets很难搞到的票，你辛辛苦苦给暗恋对象搞到了一张票，却憋红了脸不知道怎么形容这张票的来之不易，以后记住了告诉他it a hard to get ticket.
The sharing economy was hardly inspired by the needs of the rich. But in some ways it suits them perfectly. The whole idea depends on people having spare assets that they are willing to rent out to total strangers. Who has more idle assets than the super-rich? And who loves extra income more than people who have spent their lives accumulating money? On the other side of the market, bustling plutocrats are an ever-present source of demand for temporary accommodation and bursts of luxury. The system can even have a strange public-relations benefit. A wealthy boss who makes use of NetJets won’t need to explain to his shareholders why he bought a jet, even as he treats the one he flies on as though it were his own.
单词：
- idle[ˈaɪdl]
adj. 空闲的; 无意义的; 懒惰的; 无根据的;
vi. 空转; 虚度; 挂空挡; 未熄火;
vt. 虚度; 使空转;
[例句]Employees have been idle almost a month because of shortages.
由于原料短缺，员工们已将近一个月无事可做。 - accumulate[əˈkju:mjəleɪt]
vt. 堆积，积累;
vi. （数量） 逐渐增加，（质量）渐渐提高;
[例句]Households accumulate wealth across a broad spectrum of assets
家庭在以各种各样的资产形式积累财富。 - bustling[ˈbʌslɪŋ]
adj. 繁忙的，熙熙攘攘的;
v. 闹哄哄地忙乱，奔忙( bustle的现在分词 ); 催促;
[例句]This district is getting more and more prosperous and bustling.
这一带越来越繁华了。 - plutocrats
n. 富豪，财阀( plutocrat的名词复数 );
[例句]He proclaimed his fellow-feeling with workers, and denounced plutocrats and the idle rich in terms which caused them alarm.
他声明了自己对工人的同情，并谴责了财阀和游手好闲的富人5.temporary [ˈtemprəri]
adj. 短暂的; 临时的，暂时的;
n. 临时工，临时雇员;
[例句]His job here is only temporary
他在这儿的工作只是临时的。 - accommodation[əˌkɒməˈdeɪʃn]
n. 住处; 适应; 和解; 便利;
[例句]The government will provide temporary accommodation for up to three thousand people
政府将给多达3,000人提供临时住处。 - burst [bɜ:st]
vi. 爆发; 爆裂，炸破; 使爆炸; 充满，塞满;
vt. 使爆炸; 冲破，胀破; 分帧，分页，分隔;
n. 突发; 爆裂; 爆发; 爆炸;
[例句]The driver lost control when a tyre burst
一个车胎爆了，司机失去了控制。 - shareholder[ˈʃeəhəʊldə(r)]
n. 股东; 股票持有者;
[例句]As I recall, you’re not on the board, Joe; you’re only a minor shareholder
我记得你并没有进董事会，乔，你只是一个小股东而已
Uber, a ride-hailing firm, and Airbnb, an accommodation-sharing service, are prominent in the luxury market as well as the mass market. Uber offers yacht trips in Dubai (UberYacht) and helicopter commutes in São Paulo (UberCopter). Airbnb does a booming trade in luxury apartments in London, Hong Kong and the Caribbean. There are providers in almost every cranny of the luxury landscape. GetMyBoat, a San Francisco-based company, gives customers access to motorboats, luxury houseboats, yachts and jet skis in 7,100 places around the world. Stratajet sells tickets on empty legs on private jets for the price of a business-class ticket or even less. Staller, which describes itself as the “Airbnb for horses”, helps horse-owners rent stalls near equestrian competitions. A home-sharing club called ThirdHome.com allows people with just a couple of homes to live as if they have a dozen.
单词：
- hail[heɪl]
n. 冰雹; 一阵;
vi. 下冰雹; 如冰雹般地降下;
vt. 致敬; 打招呼; 打信号示意（计程车等）停下; 赞扬（或称颂）…为（尤用于报章等）;
[例句]Faulkner has been hailed as the greatest American novelist of his generation
福克纳被誉为他那一代人中最伟大的美国小说家。 - prominent[ˈprɒmɪnənt]
adj. 著名的; 突出的，杰出的; 突起的;
[例句]Here the window plays a prominent part in the design.
这里窗户在设计中起着非常重要的作用。 - helicopter[ˈhelɪkɒptə(r)]
n. 直升机，直升飞机;
vt. 用直升飞机载送;
vi. 乘直升飞机;
[例句]He was found by a police helicopter using thermal imaging equipment.
一架警用直升机借助热成像设备找到了他。 - commute[kəˈmju:t]
vi. 通勤; 代偿;
vt. 减刑; 交换; 用…交换; 使…变成;
n. 通勤来往; 通勤来往的路程;
[例句]Mike commutes to London every day
迈克每天都去伦敦上班。 - cranny[ˈkræni]
n. 裂缝，裂隙;
[例句]They fled like lizards into crannies in the rocks.
他们像蜥蜴一样逃进了石缝。 - landscape[ˈlændskeɪp]
n. 风景; 风景画; 乡村风景画; 地形;
vt. 对…做景观美化，给…做园林美化; 从事庭园设计;
vi. 美化（环境等），使景色宜人; 做庭园设计师;
[例句]We moved to Northamptonshire and a new landscape of hedges and fields.
我们迁往北安普敦郡，置身于一派树篱和田野的新景致中。 - stall[stɔ:l]
n. 货摊; 托辞; 畜栏; （房间内的） 小隔间;
vt. （使） 熄火，（使）停止转动;
vi. 拖延;
[例句]The Social Democratic Party has vowed to try to stall the bill until the current session ends.
社会民主党誓言要将该议案拖到本次议会会议结束之后。 - equestrian[ɪˈkwestriən]
adj. 骑马的，马的; 骑术的; 骑士团的;
n. 骑手; 骑马者; 马戏演员;
[例句]New events included handball, equestrian, rowing and golf.
新增项目包括手球、马术、赛艇和高尔夫。 - competition[ˌkɒmpəˈtɪʃn]
n. 竞争; 比赛; 竞争者; [生] 生存竞争;
[例句]There’s been some fierce competition for the title
夺冠之争一直都相当激烈。
The same constraints that affect the wider sharing economy—NIMBY pressure groups who put their interests above the common good and regulators who fail to adapt to new technology—find echoes in the luxury market. With its helicopter service from Manhattan to the Hamptons, Blade has immeasurably improved the life of those New Yorkers who weekend on Long Island. That hasn’t prevented curmudgeons in Battery Park and Brooklyn Heights from complaining about the occasional whump-whump-whump over their heads.
单词：
- constraint [kənˈstreɪnt]
n. 约束; 限制; 强制;
[例句]Their decision to abandon the trip was made because of financial constraints
他们决定放弃这次出游是因为财力有限。 - nimby [ˈnɪmbi]
n. <美口>宁比; Not in My Backyard
[例句]A spokesperson for the chemicals company said that local NIMBY attitudes were arresting development of the site.
化工公司的发言人说地方保护主义限制了场地的开发。 - regulator [ˈregjuleɪtə(r)]
n. 校准者，[机]调整器，校准器，调节器，[化]调节剂，[无线]稳定器，调节基因，（钟表的）整时器，标准钟; 管理者，调整者，整理者; 原则，标准; [英史]选举调查[监视] 委员，监管者;
[例句]Congress is being asked to investigate why it took so long for government regulators to shut the plant down
人们要求国会调查政府监管机构为何花了这么长时间才关闭该工厂。 - immeasurably [ɪ’meʒərəblɪ]
adv. 不能测量地，无限制地;
[例句]They have improved immeasurably since their arrival
他们自来到这里以后，有了很大改进。 - curmudgeon [kɜ:ˈmʌdʒən]
n. 坏脾气的人，吝啬鬼，守财奴;
[例句]Grace and manners that charmed the old curmudgeon;
文雅和礼貌吸引着这个老守财奴； - occasional[əˈkeɪʒənl]
adj. 偶尔的，不经常的; 特殊场合的; 临时的;
[例句]I’ve had occasional mild headaches all my life
间或发作的轻微头疼困扰了我一辈子。 - whump[(h)wʌmp]
n. 撞击的声音;
v. 发撞击声，重击;
长难句：
The same constraints that affect the wider sharing economy—NIMBY pressure groups who put their interests above the common good and regulators who fail to adapt to new technology—find echoes in the luxury market.
这一句的架构我们先分析一下，主语是the same constraints限制因素that引导的从句that affect the wider sharing economy作其修饰语，主义这里the wider sharing economy其实等价于the mass market sharing economy。两个破折号中间的饿内容是解释说明，NIMBY pressure groups who put their interests above the common good and regulators who fail to adapt to new technology。NIMBY是Not in My Backyard，一种保护主义。这群人的特征就是who从句说的put their interests above the common good把个人利益放在大众利益之上，and后面并列了另外一群人就是regulators，who fail to adapt to new technology就是没有跟上新科技节奏的政策制定者，注意这里再一次使用fail来表示没能做到，我们在1月18日against happiness的时候跟大家强调he failed to deliver on his promises，他没能信守承诺。没有直接使用do not或者did not。所以我们立即明白constraints就是这两群人呗。
谓语动词是find，宾语是echoes，in the luxury market是介词短语修饰echoes。Find echoes同样存在。
长难句：
That hasn’t prevented curmudgeons in Battery Park and Brooklyn Heights from complaining about the occasional whump-whump-whump over their heads.
curmudgeons坏脾气的人，吝啬鬼，守财奴( curmudgeon的名词复数 )
Battery Park 和 Brooklyn Heights 都是穷人区
That指代前文的提升啊：has immeasurably improved the life of those New Yorkers who weekend on Long Island
因为只提升了那些要在长岛过周末的人的生活，可是这当然无法组织那些住在布鲁克林这些地方的坏脾气的人的抱怨啊，抱怨啥，抱怨自己头顶上老嗡嗡嗡的飞飞机呗。
From merely rich to Uber rich
Methods of managing wealth as well as consuming it are trickling down. Until recently only people called Rockefeller and Morgan could afford so-called “family offices” that manage their investments, taxes and charitable giving (and get entry into the best hedge funds). Now people with as little as $5m to invest can afford to do so thanks to a boom in so-called “multi-family” offices. Banks such as Citigroup have set up multi-family divisions. Even blue-blooded wealth advisers such as Rockefeller & Co, in Manhattan, are offering family-office services to the “merely” crowd.
单词：
- trickling[’trɪklɪŋ]
n. 油画底色含油太多而成泡沫状突起;
v. 淌; 滴( trickle的现在分词 ); 使)慢慢走; 缓慢移动;
[例句]The trickling stream glistened in the sunlight.
涓涓溪流在阳光下闪闪发亮。 - charitable[ˈtʃærətəbl]
adj. 仁慈的，慈善的; 宽恕的，宽厚的; 慷慨的;
[例句]They were rather less than charitable towards the referee.
他们对裁判根本不体谅。 - division [dɪˈvɪʒn]
n. 部门; 分开，分隔; [数] 除法; [军] 师;
[例句]The current division of labor between workers and management will alter.
当前工人与管理部门的分工将会改变。
That things are getting better for more rich people does not contradict Mr Frank’s broader worry, but among the Art Basel class it is a notable shift. Once upon a time you had to be born rich to join the global elite. Then you had to make a hundred million dollars, and then the threshold rose to a billion. Now goods and services that used to be confined to a handful of tycoons are available to the millionaire or pretend-millionaire next door, thanks to the magic of the sharing economy. The super-rich may be floating off into their own country. But more people can join them, even if temporarily, than ever before.
单词：
- contradict[ˌkɒntrəˈdɪkt]
vt. 反驳，驳斥; 否认; 与…矛盾，与…抵触;
vi. 反驳; 否认; 发生矛盾;
[例句]She dared not contradict him
她不敢反驳他。 - elite[eɪˈli:t]
n. <法>精华; 精锐，精英; 上层集团; （统称） 掌权人物;
[例句]We have a political elite in this country.
我们国家有一群政治精英。
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LAMENTING the rise of inequality is one of the few growth industries in an age of stagnation. One authority on the American wealthy, Robert Frank of CNBC, a TV channel, worries that the rich are “floating off” into their own country. Chrystia Freeland, a journalist-turned-politician, frets about the rise of the “new global super-rich” and the fall of everyone else. Charles Murray, America’s gloomiest social scientist, warns that society is “coming apart” as the rich retreat into their gated communities.
At the top of the income scale, however, a small counter-trend is observable. Never before have so many people been able to get access to the accoutrements of tycoonery—private planes, luxury yachts, fancy cars and interior-designed, exclusive homes. There is only so much comfort to be had from the fact that it is easier for the merely rich to lay claim to the lifestyle of the super-rich. But as a result of a combination of new technologies and businesses, that is nonetheless what is happening.
Tycoon living begins with a private jet. Whereas yachts are dispensable (not everyone wants to float around for weeks with the same dinner companions) private jets are necessities for the aspiring billionaire. They save valuable time. Even first-class passengers have to wait an hour or so for their flights. Private-jet owners can turn up when they want and climb on board. The planes can double as flying offices, and you don’t have to worry about other passengers eavesdropping on your deals or objecting to your spreading papers. The flight is smoother (private jets typically fly at 45,000 feet), the seats are more throne-like, and you can bring your pets.
No longer do you need a net worth in the hundreds of millions of dollars to have one. With 700 jets, NetJets is now the fifth-largest airline by number of planes, after Southwest Airlines, and it has access to thousands of private airports. Its main innovation was to apply the principle of fractional ownership, or time-sharing, to the ultimate executive tool. Customers buy a share in a jet which entitles them to, say, 200 hours of travel a year.
NetJets is skilled at providing its rich clients with an entrée into the cultural world of the super-rich, with hard-to-get tickets to events such as Art Basel, a series of art fairs, and to private dinners with celebrities. The company is also finding ways to bring down the cost: one of its latest ideas is the private-jet equivalent of London Underground’s electronic ticket, the Oyster card. Rather than buying a share in a jet you can buy a pre-paid card that entitles you to a certain number of flying hours a year, with 25 hours’ worth of flights adding up to about €155,000 ($163,435).
The sharing economy was hardly inspired by the needs of the rich. But in some ways it suits them perfectly. The whole idea depends on people having spare assets that they are willing to rent out to total strangers. Who has more idle assets than the super-rich? And who loves extra income more than people who have spent their lives accumulating money? On the other side of the market, bustling plutocrats are an ever-present source of demand for temporary accommodation and bursts of luxury. The system can even have a strange public-relations benefit. A wealthy boss who makes use of NetJets won’t need to explain to his shareholders why he bought a jet, even as he treats the one he flies on as though it were his own.
Uber, a ride-hailing firm, and Airbnb, an accommodation-sharing service, are prominent in the luxury market as well as the mass market. Uber offers yacht trips in Dubai (UberYacht) and helicopter commutes in São Paulo (UberCopter). Airbnb does a booming trade in luxury apartments in London, Hong Kong and the Caribbean. There are providers in almost every cranny of the luxury landscape. GetMyBoat, a San Francisco-based company, gives customers access to motorboats, luxury houseboats, yachts and jet skis in 7,100 places around the world. Stratajet sells tickets on empty legs on private jets for the price of a business-class ticket or even less. Staller, which describes itself as the “Airbnb for horses”, helps horse-owners rent stalls near equestrian competitions. A home-sharing club called ThirdHome.com allows people with just a couple of homes to live as if they have a dozen.
The same constraints that affect the wider sharing economy—NIMBY pressure groups who put their interests above the common good and regulators who fail to adapt to new technology—find echoes in the luxury market. With its helicopter service from Manhattan to the Hamptons, Blade has immeasurably improved the life of those New Yorkers who weekend on Long Island. That hasn’t prevented curmudgeons in Battery Park and Brooklyn Heights from complaining about the occasional whump-whump-whump over their heads.
From merely rich to Uber rich
Methods of managing wealth as well as consuming it are trickling down. Until recently only people called Rockefeller and Morgan could afford so-called “family offices” that manage their investments, taxes and charitable giving (and get entry into the best hedge funds). Now people with as little as $5m to invest can afford to do so thanks to a boom in so-called “multi-family” offices. Banks such as Citigroup have set up multi-family divisions. Even blue-blooded wealth advisers such as Rockefeller & Co, in Manhattan, are offering family-office services to the “merely” crowd.
That things are getting better for more rich people does not contradict Mr Frank’s broader worry, but among the Art Basel class it is a notable shift. Once upon a time you had to be born rich to join the global elite. Then you had to make a hundred million dollars, and then the threshold rose to a billion. Now goods and services that used to be confined to a handful of tycoons are available to the millionaire or pretend-millionaire next door, thanks to the magic of the sharing economy. The super-rich may be floating off into their own country. But more people can join them, even if temporarily, than ever before.
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