Premium vs. Luxury Defined

In the latest episode of The Materialist, I sit down with my friend Ben Gilbert, co-host of Acquired, to talk about brands, luxury, and the meaning we assign to the things we own.

Ben has spent the last decade dissecting the world’s most successful companies, and in light of his recent blockbuster five-hour episode on Rolex, we sat down to explore what makes something valuable—not just in dollars and cents, but in culture, psychology, and personal connection.

What We Cover:

🔹 Luxury vs. Premium – Why a $20,000 handbag performs the same function as a $1,000 handbag, but people are willing to pay more. Is it just branding, or is there something deeper at play?

🔹 The Rolex Effect – How a brand moves from being a product to becoming the default mental image of an entire category. Is success just about making a great product, or does it require reshaping how the world sees it?

Marc’s circa 1977 Rolex Oyster Perpetual Date Reference 1503 in 14k yellow gold.

🔹 The Scarcity Question – What happens when technology disrupts luxury? We get into lab-grown diamonds, high-end watch dupes, and whether the future of desirability is in real rarity or just perceived rarity.

🔹 Materialism vs. Meaning – Do we define ourselves by what we own? Ben reflects on how he surrounds himself with brands that feel reliable—Trek, Starbucks, Apple—but stops short of calling himself a "materialist."

🔹 The Power of Storytelling – Whether it’s a luxury house like Hermès or a company like Apple, the most enduring brands aren’t just selling products. They’re selling identity, continuity, and trust.

Why This Conversation Matters

We live in a world of abundance—countless choices, endless products, and AI-generated everything. But as options multiply, trust becomes the scarce commodity. Who do we trust to curate our choices? Who do we trust to tell us what’s real?

That’s as true in business as it is in style, and it’s why brands that stand for something—brands that have built reputations over time—continue to thrive. The companies that endure are the ones that make us believe in something beyond the product itself.

This episode is about the difference between function and feeling, utility and symbolism, price and value. And it’s a reminder that the things we bring into our lives aren’t just about what they do—they’re about what they mean.

Ben hard at work at Master Control, ACQ Global Headquarters, Seattle, WA.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit atpresent.substack.com