1. Chinese luxury goods: the bear case. Luxury demand from domestic travel has returned (as a reminder, up to 50% of luxury sales in Beijing and Shanghai is contributed by non-local customers), the average spending ticket has continued to rise, and the very high end (e.g. VIPs) has increased its luxury spend since the beginning of 2023. – Read More on the FT
2. FTC sues Amazon over ‘deceptive’ Prime sign-up and cancellation process. The FTC on Wednesday sued Amazon, alleging it tricked customers into signing up for its Prime subscription program and intentionally complicated the the cancellation process. – Read More on CNBC
3. Apple Is an AI Company Now. Apple is a luxury brand, more deeply in the business of making using your computer and phone enjoyable above all else. “So it isn’t surprising that Apple is approaching AI cautiously, with a product-oriented focus.” – Read More on the Atlantic
4. RETRO READ: Is Apple a Luxury Brand? Well, That Depends on Your Definition of Luxury. “If change is happening at Apple, it seems like it’s moving from high-end electronics company to something more like a luxury fashion brand, moving away from focusing on user experience and industrial engineering as driving forces, and toward a company that offers trendiness, status, and individuality first.” – Read More on TFL
5. In tech, everything is labeled “AI” now. Real advances in machine-learning based pattern- recognition and -completion have sparked a new bubble in tech-industry investment, encouraging companies to apply the “AI” label to anything that moves. – Read More on Axios
6. AI’s regulation naysayers protest too much. Behind the new-fangled and possibly game-changing technology is a familiar arm-wrestling contest between regulators and big technology firms. – Read More on Reuters