Supramolecular chemistry of conjugated and conformationally rigid arylene ethynylene macrocycles (AEMs) has been the subject of increasing recent interest. AEMs are suited to function as supramolecular building blocks and hosts for small molecular guests thanks to their well-defined, non-collapsible central cavities and the potential for long range ordering through intermolecular π-stacking. Their syntheses are highly modular—albeit typically lengthy—allowing access to a great structural variety of AEM candidates for applications as carbon-rich mesogens and ligands in liquid crystals, nanoporous solids, molecular electronics, and chemical sensors. In this perspective, we highlight our recent work on the inclusion complexes and porous materials constructed from AEMs. Through this prism, we reflect on the recent advances and the remaining challenges in the supramolecular chemistry of AEMs.