They told each other that they were rich, had prospered, and needed nothing. The reference ought not to be seen primarily as financial (though the citizens of Laodicea were generally very well off; they rebuilt the city after the earthquake of AD 60 without government assistance), but ought to be seen as a reference to their conviction that they were rich in the gospel of redemption, justified before God, clothed in Jesus’ righteousness, heirs to life eternal. They were smug and content in their walk with the Lord, convinced that God was happy with them.
17 For you say, I am rich, I have prospered, and I need nothing, not realizing that you are wretched, pitiable, poor, blind, and naked.