What did Shakespeare mean by 'We will all laugh at gilded butterflies'?
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The quote is from King Lear, who is ruefully pondering his own folly after finding out two of his daughters have betrayed his trust in order to take his fortune. "Gilded butterflies" would generally mean someone overdressed or overly fancy in order to appear more than they are, like a courtier. Lear would be comparing his avaricious daughters to gilded butterflies, appearing to be valuable and beautiful on the outside, but are mere whimsical and insubstantial inside. A further overtone is in one meaning of "gilded", which is "covered in blood", an obvious metaphor for violence or death. Laughing at the above would be a form of derision.

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