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"During a gold rush, sell shovels" - What are some other examples of this? (feddit.nl)

submitted 2 months ago by [email protected] to c/[email protected]

62 comments fedilink hide all child comments

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

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[–] [email protected] 7 points 2 months ago* (last edited 2 months ago) (1 children)

Delivery services and rideshares. People using them make meager wages, but the companies hosting them get all the benefit of people desperate for work or convenience.

Edit: in a similar vein, OnlyFans

[–] [email protected] 8 points 2 months ago (1 children)

That's just old fashioned exploitation.

[–] [email protected] 1 points 2 months ago* (last edited 2 months ago) (1 children)

So is everything else OP mentioned.

[–] [email protected] 2 points 2 months ago (1 children)

No, it's not. You clearly have never heard of this phrase.

[–] [email protected] 1 points 2 months ago (1 children)

All of these are things where you capitalize on other people's attempts to get rich by selling them the tools to do so

[–] [email protected] 4 points 2 months ago (1 children)

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.

[–] [email protected] 1 points 2 months ago (1 children)

When COVID hit, there was an explosion in demand for delivery services.

[–] [email protected] 3 points 2 months ago

Yeah. That's just supply and demand. Not a fool's gold type hype.