@[email protected] to Ask [email protected] • 22 days ago"During a gold rush, sell shovels" - What are some other examples of this?message-square60fedilinkarrow-up187arrow-down15file-text
arrow-up182arrow-down1message-square"During a gold rush, sell shovels" - What are some other examples of this?@[email protected] to Ask [email protected] • 22 days agomessage-square60fedilinkfile-text
A couple of others I can think of: Crypto-boom of 2016ish: GPUs/mining rigs LLM/AI hype nowish: User generated data 90’s dotcom bubble: Server space
minus-square@[email protected]linkfedilink1•22 days agoAll of these are things where you capitalize on other people’s attempts to get rich by selling them the tools to do so
minus-square@[email protected]linkfedilink4•22 days agoYeah but that’s not what selling shovels means. A gold rush is a bunch of fools chasing the latest hype. Like AI or the dot com boom or NFTs. Selling shovels is when you don’t buy into the hype, but you make money off of the fools who buy into hype. You’re just talking about standard economics.
minus-square@[email protected]linkfedilink1•22 days agoWhen COVID hit, there was an explosion in demand for delivery services.
minus-square@[email protected]linkfedilink3•22 days agoYeah. That’s just supply and demand. Not a fool’s gold type hype.
All of these are things where you capitalize on other people’s attempts to get rich by selling them the tools to do so
Yeah but that’s not what selling shovels means.
A gold rush is a bunch of fools chasing the latest hype. Like AI or the dot com boom or NFTs.
Selling shovels is when you don’t buy into the hype, but you make money off of the fools who buy into hype.
You’re just talking about standard economics.
When COVID hit, there was an explosion in demand for delivery services.
Yeah. That’s just supply and demand. Not a fool’s gold type hype.