Physics reach of rare b-decays

I discuss the theoretical and empirical status of $b \to s \gamma$, $b \to s \ell^+ \ell^-$ decays, as well as their future prospects. I emphasize those observables in rare $b$-decays which can potentially establish new physics and distinguish between extensions of the Standard Model. I briefly review current models of electroweak symmetry breaking, all of which can carry interesting flavor characteristics accessible with $b$-physics experiments.