Last week, we witnessed two extraordinary events: Venus Williams playing some of the best tennis in the last decade of her career (she lost in the U.S. Open, but with grace and style), and the rollout of Rihanna's new cosmetics line, Fenty Beauty, which was splashier than the launch of the new iPhone X. We learned something unexpected from both. Venus showed us what it means to lose, and yet somehow remain undefeated, and the Rihanna event gave us insight into the economy of social media “influencers” who are radically changing—and possibly democratizing—the beauty and fashion industries.

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