@[email protected] to Ask Lemmy • 3 months ago"During a gold rush, sell shovels" - What are some other examples of this?message-square62fedilinkarrow-up187arrow-down15file-text
arrow-up182arrow-down1message-square"During a gold rush, sell shovels" - What are some other examples of this?@[email protected] to Ask Lemmy • 3 months agomessage-square62fedilinkfile-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@Cryophilialink5•3 months agoThat’s all just regular supply and demand. Doesn’t fit the saying.
minus-square@[email protected]linkfedilink1•3 months agoGold Rush = high demand = invest in (aka buy) shovels Same thing, no?
minus-square@Cryophilialink2•edit-23 months agoNo. Gold rush = a bunch of fools getting hyped up on the latest thing thinking they’ll get rich, but almost none of them will. Selling shovels = not chasing the latest hype, but making money off the fools who chase the latest hype. I’m not offering an opinion or interpretation of the phrase btw, that’s the actual definition.
That’s all just regular supply and demand. Doesn’t fit the saying.
Gold Rush = high demand = invest in (aka buy) shovels
Same thing, no?
No.
Gold rush = a bunch of fools getting hyped up on the latest thing thinking they’ll get rich, but almost none of them will.
Selling shovels = not chasing the latest hype, but making money off the fools who chase the latest hype.
I’m not offering an opinion or interpretation of the phrase btw, that’s the actual definition.